Understanding the Market | Digital Currency ETFs Strong Across the Board, CAM BTC Rises Nearly 8%, Trump's Re-election Probability Soars After Shooting Incident
Cryptocurrency ETFs are all strong, as of the time of writing, Bosera Bitcoin rose by 7.96% to HKD 48; Jiashi Bitcoin rose by 7.84% to HKD 7.705; Huaxia Bitcoin rose by 7.85% to HKD 7.695; and Huaxia Ethereum rose by 6.94% to HKD 8.015. In terms of news, former U.S. President Donald Trump survived an assassination attempt. Following the shooting, the probability of Trump becoming president again has increased to 66.5%. Earlier reports indicated that former U.S. President Trump will speak at the Bitcoin 2024 conference in Tennessee. Influenced by this news, Bitcoin has broken through $61,000, and Ethereum briefly surpassed $3,300. Additionally, the market currently believes that a rate cut by the Federal Reserve in September is highly probable, which is also favorable for the cryptocurrency market. Federal Reserve Chairman Jerome Powell stated earlier this week that concerns about maintaining high interest rates for an extended period could jeopardize economic growth, hinting that a rate cut may be possible as long as inflation continues to show progress
According to the Smart Finance app, digital currency ETFs are all on the rise. As of the time of publication, Bosera Bitcoin (03008) rose by 7.96% to HKD 48; CSOP Bitcoin (03439) rose by 7.84% to HKD 7.705; CAM Bitcoin (03042) rose by 7.85% to HKD 7.695; and CAM Ethereum (03046) rose by 6.94% to HKD 8.015.
On the news front, former U.S. President Donald Trump survived an assassination attempt. Following the shooting, the probability of Trump becoming president again has increased to 66.5%. Earlier reports indicated that former U.S. President Trump would speak at the Bitcoin 2024 conference in Tennessee. In response to this news, Bitcoin has surged above $61,000, and Ethereum briefly surpassed $3,300.
Furthermore, the market currently believes that a rate cut by the Federal Reserve in September is a high probability event, which is also favorable for the cryptocurrency market. Federal Reserve Chairman Jerome Powell stated earlier this week that he is concerned that maintaining high interest rates for an extended period could jeopardize economic growth, hinting that a rate cut may be possible as long as inflation continues to show progress