July 9 Market Dynamics: ETH ETF to be approved next week, prices of ETH-based tokens rebound

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Bitget2024/07/09 02:51

By:Bitget

I. Market Dynamics

1. BTC is weak and fluctuating, with altcoins rebounding after a sharp drop. The market fell too quickly in the early stage, now it's moving sideways waiting for the convergence of moving averages.

2. U.S stocks are flat as the market awaits Powell's speech on Capitol Hill.

II. Market Focus

1. ETH-based ENS, TIA, DYM, XAI etc., are rebounding. The ETH ETF will be approved next week. The XAI team continues to lock up part of their holdings for 6 months; circulation unlock ratio drops from 71% to 36%. TIA plans to unlock 120% of its circulating supply by the end of October.

2. MEME's NOT, BONK, PEPE are bouncing back - MEME remains the most vigorous sector in terms of recovery.

3. Public chain SOL rebounds; SOL ETF can only pass if Trump wins again.The ecosystem BILLY surged by nearly 60%, approaching new highs.WIF’s dealer ANSEM may build positions in BILLY.

4.DEBANK which tracks on-chain addresses has airdropped XP points; DEBANK and wallet RABBY belong to one Chinese team.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Share link:In this post: Bernstein predicts Bitcoin will reach $200,000 by the end of 2025. Key factors include the rise of debt in the United States and increased demand from spot ETFs. According to Bernstein, if Trump is to win, then Bitcoin may rise to between $80,000, and if Harris wins, Bitcoin may drop to $50,000.

Cryptopolitan•2024/11/04 21:55