Today's Key Events Interpretation
Last night, the market had another stir, with Bitcoin and Ethereum unable to sustain their highs; the rebounds were merely "flash in the pan," as the bears swiftly extinguished the bulls' hopes.
On the ETF front, BlackRock took the lead in withdrawals, causing a massive outflow of funds. The market sentiment, which had just sparked a little flame, was doused with cold water. After a streak of more than ten days of net inflows, BlackRock has begun leading the outflows again.
The probability of a rate cut in September has decreased again, from 94% to 84.6%. The more the market rises, the more the whales release positive news to push you, and the more it falls, the more they release negative news. An old saying in the crypto world: buy when no one cares, sell when voices are loud.
This Thursday at 2 AM, the Federal Reserve will release the minutes of its monetary policy meeting, and on Friday night at 10 PM, Powell will speak—these two time points are worth paying attention to.
