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Ahead Of The Curve
29 Jul 2024

Big news week, big volume, relatively flat price

Ethereum ETFs went live, with five day net outflows of $440m stemming from Grayscale, seized coins continue to move, and Donald Trump stated at Bitcoin 2024 that he wants a strategic U.S. BTC reserve.
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Big news week, big volume, relatively flat price
Ethereum ETFs went live, seized coins continue to move, and Donald Trump stated at Bitcoin 2024 that he wants a strategic U.S. BTC reserve. Two days after Trump’s speech, the DOJ moved $2b worth of BTC. The headlines were matched with high trading volume, but prices have remained relatively stable, with BTC’s 7-day volatility declining to 1.6%. Regardless of logistical issues around the seized BTC (and uncertainty about the election), Trump’s statement is huge and solidifies crypto as an election issue this year.
Institutional trader demand remains solid
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