Today's highlights
1. Bitcoin and major altcoins slightly correct downwards
On August 15, Bitcoin fell 2%, trading around $119,000, more than 5% lower than its recent historical high. Altcoins like Ethereum, Solana, and XRP also experienced slight declines, at 1.4%, 3%, and 3.2% respectively.
The reason is believed to be that incoming inflation data in the US exceeded expectations, causing the market to worry that the Fed may delay interest rate cuts—reducing the attractiveness of risk assets like crypto.
2. Inflows into Bitcoin and Ethereum ETFs remain strong
While the overall market shows signs of correction, institutional investment demand remains very strong: the Ethereum ETF in the US recorded an inflow of $639.61 million, while the Bitcoin ETF recorded $230.93 million on the morning of August 15.
3. Bitcoin may be strongly 'cheered on' in August
Bitcoin is recovering above the $120,000 threshold, benefiting from strong inflows into crypto. Total inflows into this sector reached $572 million, of which Bitcoin accounted for $260 million—the main driver being Trump's executive order promoting the expansion of alternative assets in retirement accounts.
4. Brevan Howard increases investment in BlackRock's Bitcoin ETF
Hedge fund Brevan Howard just announced an additional investment of $2.3 billion into BlackRock's iShares Bitcoin Trust (IBIT), accounting for over 20% of the fund's portfolio. Notably, they have surpassed Goldman Sachs (which previously held about $1.4 billion) to become the largest shareholder in IBIT.
