Daily Summary: BTC ETF large inflow, 50 basis point probability of substantial increase in September rate cut

According to Farside Investor data, the net inflow of BTC Spot ETF in the United States was $186 million yesterday. Among them, Fidelity FBTC had an inflow of $56 million, Ark Invest ARKB had a net inflow of $42 million, and Bitwise BITB had an inflow of $45 million. There was no fund inflow or outflow for BlackRock IBIT.

Yesterday, the US ETH Spot ETF saw a net outflow of $15 million, with overall ETH ETF volume remaining relatively small. Among them, Grayscale ETHE saw a net outflow of $17.9 million, while BlackRock's ETHA did not see any fund inflows or outflows.

Data: The number of CEXBTC deposit Addresses has dropped to the lowest level in recent years, indicating a possible reduction in selling pressure

According to a recent research report by CryptoQuant, the number of deposit addresses on BTC CEX platforms has dropped to 132,100, reaching the lowest level in years. This indicator represents the number of addresses sending incoming transactions to trading platforms. The analysis suggests that the lowest level in years indicates a decrease in the number of investors selling BTC on spot trading platforms, which may indicate a decrease in dumping pressure.

However, Julio Moreno, the research director of CryptoQuant, also pointed out that when the deposits on the trading platform decrease, it may not only indicate a drop in interest in selling BTC. It may also mean a decrease in overall demand for BTC, as there are fewer traders depositing funds to bet on a pump in price.

Eigenpie will conduct IDO on September 20th

Eigenpie announced on social media that its IDO will be held on the Magpie Launchpad via the Arbitrum network. A snapshot will be taken between September 18th and 20th to determine the IDO allocation for vlMGP holders, MGP, and vlMGP burners. The IDO will start at 21:00 on September 20th Beijing time and end at 21:00 on September 24th. The allocation for the private sale round is as follows:

· Eigenpie Points holder is 70.59%

· vlMGP holder is 20.59%

· MGP / vlMGP destroyer is 8.82%

The PE Round will be completed within 24 hours, with a FDV of 3 million US dollars. The public sale will last for 72 hours, with a FDV of 6 million US dollars, and the final price will be determined by dividing the total committed funds of this round by the total number of tokens sold in this round. The total token allocation for IDO is 3,600,000 EGP. PE Round tokens will be in a Lock-up Position for 6 months, and then linearly unlocked over 2 years. Tokens from the public sale round will be 100% unlocked at TGE.

The probability of a 50 basis point rate cut by the Federal Reserve this week is 63%.

According to CME's 'FedWatch' data, the probability of a 25 basis point rate cut by the Fed in September is 37.0%, and the probability of a 50 basis point cut is 63.0%.

Market Analysis: BTC leads the overall pump, NEIROCTO stands out

Market Trends

• BTC returned to $61,000 in the early hours of today, currently consolidating around $60,000, with significant inflows into BTC ETF, and the Fed is about to cut interest rates;
• ETH has been weak, with little price fluctuation during the day, still hovering around $2,300, and ETH ETF continues to flow out;
• AltCoin followed the market's general Rebound, with impressive performances from NEIROCTO, BIGTIME, FIGHT, etc;
• In terms of data indicators, today's AHR999 index is 0.65, and the index has rebounded significantly along with the BTC price; the fear and greed index is 45, and the market's sentiment has improved after the general pump.

Market Hotspots

1. Meme zone: NEIROCTO, FIGHT, BABYDOGE, etc. pumped, with NEIROCTO becoming the market-leading star Token with a daily increase of over 100%. NEIROCTO is the first Neiro Token deployed on the ETH blockchain and has gained significant market attention this week, achieving a doubled price within 24 hours. FIGHT is a meme coin based on the concept of the US presidential election, with candidate Trump stimulating FIGHT pump by posting related content on Twitter, leading to a once 400% daily increase, which has now significantly declined.
2. GameFi zone: BIGTIME, MAVIA and other tokens surged, with BIGTIME leading as the best-performing GameFi Token with a 45% intraday gain. BIGTIME, which has been online for 1 year, has been pumping all the way after being listed on a Korean exchange. The project has been consistently updating game content and has a well-established community. Another pumped game, MAVIA, is a tower defense strategy game. The project announced the listing on the Web Ruby Marketplace yesterday, where users can trade in-game assets and will add MAVIA Token trading functionality on this exchange market in November.
3. Social concept: UXLINK surged by more than 60%, with a current circulating market capitalization of 1.23 billion US dollars, and UXLINK pumped 500% compared to the beginning of the month. Uxlink is the basic infrastructure of the web3 social platform, and UXLINK Token can capture the value of the entire Uxlink ecosystem.

Macro Economy: S&P 500 Hits Another Record High, Fed to Announce Interest Rate Decision Tomorrow Morning

The three major US stock indexes rose and fell differently, with the S&P 500 rising 0.03% to 5634.58 points; the Dow Jones falling 0.04% to 41606.18 points; and the Nasdaq rising 0.20% to 17628.06 points. The 10-year Treasury yield of the Benchmark is 3.65%, and the 2-year Treasury yield, which is most sensitive to the Intrerest Rate policy of the Federal Reserve, is 3.59%.

This week, the global financial market will kick off the 'Super Central Bank Week', and the most followed focus will be the Intrerest Rate decisions announced by the Federal Reserve and the Central Bank of Japan. In addition, Central Banks of many countries including the UK, Brazil, Norway, and Indonesia will also release their latest Intrerest Rate decisions. Christine Lagarde, the President of the European Central Bank, and several other members will deliver speeches during the week. Nick Timiraos, a well-known macroeconomic journalist known as the 'megaphone of the Federal Reserve', recently stated that the Federal Reserve will definitely cut interest rates this week, but it is still uncertain whether the rate cut will be a larger 50 basis points or the traditional 25 basis points.

According to CME's FedWatch tool, the probability of a 25 basis point rate cut by the Fed in September is 37.0%, and the probability of a 50 basis point rate cut is 63.0%.

Summary

The current market is experiencing a certain degree of recovery in overall sentiment, driven by macro Favourable Information. BTC and some AltCoins are performing strongly, especially Tokens in the Meme and GameFi sectors showing significant pump momentum. However, Ethereum and some assets are still showing weakness, investors need to closely follow market dynamics and policy changes, operate cautiously, and allocate assets reasonably.

Author: icing This article represents only the author's point of view and does not constitute any trading advice. This article is original and the copyright belongs to Gate.io. If you need to reprint, please indicate the author and source, otherwise legal responsibility will be pursued.