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Rate Hike Risk, $328M Liquidations & ETF Outflows | Jul 29
Audio is available on Spreaker — see link below.
The Fed's hawkish hold triggered $328M in crypto liquidations and four straight days of Bitcoin ETF outflows — while whales quietly accumulated $1.3B in BTC. Today's briefing cuts through the macro noise with the signals that matter for crypto traders heading into August.
Audio is available on Spreaker — see link below.
The Federal Reserve held rates steady on July twenty-ninth, and crypto felt it immediately. Three dissenting votes called for a hike.
Treasury yields moved sharply on the back of the decision. The ten-year jumped to four point six six percent.
Bitcoin ETFs posted net outflows for four consecutive days, with over five hundred million dollars withdrawn. July is at risk of turning net negative with only two days remaining in the month.
Coinbase's second quarter results confirm what was already suspected. Analyst estimates put Q2 trading volume at one hundred fifty-two billion dollars, twenty-six billion below the Street consensus of one hundred seventy-eight billion.
Binance US is moving to file a CFTC Designated Contract Market application next month. The goal is to launch regulated prediction markets and perpetual futures.
The regulatory picture is not moving in one direction. While Binance US pursues expansion, SEC Commissioner Hester Peirce warned that crypto vaults and lending products may trigger securities law regardless of whether they are onchain or use non-security assets.
The two real watchpoints from here are straightforward. First, the next inflation print and Warsh's August remarks at Jackson Hole.
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