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Daily Details

Coinex Daily: Bitcoin price fluctuates at high levels, Trump events continue to drive political MEME

  • TRUMP 0%
  • MEME 0%
  • BTC 0%
  • FIGHT 0%
  • FIGHTETH 0%
Published on 2024-07-16

Overview

Bitcoin prices fluctuate at high levels, surpassing $65,000 before falling back to $63,000 and then rebounding. Bitcoin ETFs continue to attract inflows, indicating steadfast investor confidence. Federal Reserve Chair Powell's dovish remarks boost market expectations of a 100% probability of a September interest rate cut, benefiting the cryptocurrency market. The shooting incident involving Trump drives Polymarket trading to record highs, with the new meme token $FIGHTETH showing notable performance amid heightened market sentiment, though caution is advised due to investment risks.

Daily Macro

Bitcoin Market  Bitcoin prices oscillate at high levels, breaking past $65,000 before retracing to around $63,000 and rebounding. Overall, market demand for Bitcoin remains strong despite short-term volatility.

Bitcoin ETF Bitcoin ETFs continue to attract a net inflow of $300 million, underscoring investor confidence and supporting upward price trends.

Macroeconomic Data Fed Chair Powell's continued dovish remarks on July 16th, fueled by stronger second-quarter inflation data, bolster confidence in rate cuts expected in September, with a 100% probability. Such macroeconomic expectations favor the cryptocurrency market, driving overall market growth.

Daily Focus

Trump-Related MEME Coins

Reason for Focus:  Trump's involvement boosts Polymarket to record trading volumes, significantly increasing odds for the new U.S. president. The new meme token $FIGHT stands out, driving market sentiment.

Performance of Related Tokens:

  • $FIGHTETH: Price increased by 400% in the last 24 hours. 
  • $FIGHT: Price increased by 17% in the last 24 hours.

Market Outlook: Meme tokens carry significant investment risks due to their high volatility and sentiment-driven nature. Investors should exercise caution, allocate investments prudently, avoid heavy exposure, and maintain risk control.


Next Focus

Polit-Fi

Reason for Focus: Recent political events and macroeconomic data bode well for the cryptocurrency market, expected to attract more capital in the near term.

Related Assets: MEME tokens tied to political figures like TRUMP and FIGHT may garner increased attention



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