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Trump announces pro-crypto VP and Bitcoin saw record inflows.
Market Highlights
Matt Curda
July 16, 2024
Hello Investors!
Let’s see what’s moving the markets today.
Top 3 Market Highlights
Inflows are back
Bitcoin saw the 5th largest weekly inflows on record with $1.35bn.
That's bringing year-to-date inflows to a record $17.8bn.
Far surpassing the 2021 inflows of $10.6bn.
Source: CoinShares
Learn more: CoinShares
Why is that important?
It feels like inflation talk again - The CPI numbers are better than expected, which gives funds more space to buy.
Funds are buying the dip and keep accumulating, mainly Bitcoin.
A few key people started talking about possible rate cuts on July 31st. That date will be important for understanding the market sentiment for this summer.
Mt Gox moves $3.1 billion in bitcoin
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