BTC is currently trading around $62,700 and ETH around $3,350. Notable gainers in the last 24 hours are MOG, STX, and JASMY. The global crypto market cap is $2.41T, up 4.0% over the last day. DeFi Total Value Locked is ~$95b and BTC dominance is around 55%.
Traditional equity markets are mixed while crypto prices are higher after an assassination attempt on former US President Donald Trump failed over the weekend. In the wake of the event, Trump’s odds of winning the presidential election in November increased from 60% to 70% on Polymarket, Trump received several notable endorsements like from Elon Musk and Justin Sun, Trump-related memecoins surged, and Trump reaffirmed he will still speak at Bitcoin 2024 in less than two weeks. Looking ahead, traders anxiously await the potential launch of the US spot Ethereum ETFs, which could occur this week, and will further watch new crypto trading rules that take effect in South Korea on Friday. Lastly, it’s a light week for macro data, which includes US retail sales on Tuesday and the ECB meeting on Thursday, where the ECB is widely expected to hold rates steady.
Notable news includes: Russia is considering allowing qualified investors to trade digital assets on stock exchanges; Germany has now liquidated all its Bitcoin; the US spot Bitcoin ETFs attracted over $1b of inflows last week, despite the market downturn; crypto trading platform Abra reportedly purchased several of Valkyrie’s private crypto trusts; and, BlackRock is looking to participate in MakerDAO’s effort to bring $1b of tokenized assets onto its platform.
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Author:
Brian Rudick, Senior Strategist | Twitter, Telegram, LinkedIn
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