Inflation data is moderate, Bitcoin will attract attention! BTC price rebounds, ETH trend flat

This site (120bTC.coM): Led by the rebound of technology giants from deep declines, the three major U.S. stock indexes rose on Friday, but the S&P500 and Nasdaq still closed in the black on the weekly basis. Bitcoin rebounded to around 68K, and Ethereum barely remained flat under the selling pressure of Grayscale ETHE, falling more than 7% in a week.

Inflation data is moderate

According to CNBC, the U.S. Department of Commerce’s personal consumption expenditures (PCE) price index in June rose slightly by 0.1% as expected after remaining flat in May, highlighting the improvement in the inflation environment. The Fed may Rate cuts began in September.

The PCE price index increased by 2.5% year-on-year after rising by 2.6% in May, which was also in line with the forecast of economists polled by Reuters. The Fed's PCE price indicator, which closely tracks monetary policy, could help officials meeting next week gain confidence that inflation is moving toward the Fed's 2% target.

Led by the rebound of technology giants, the three major U.S. stock indexes rose on Friday, but the S&P500 and Nasdaq still closed in the black on the weekly basis.

Bitcoin rebounds, Bitcoin Conference on Saturday attracts attention

Republican presidential candidate Trump will attend the Bitcoin Conference (BTC2024) on Saturday and give a speech. Many Bitcoin enthusiasts speculate that Trump is about to At the conference, it was recognized that "Bitcoin is a reserve asset." Crypto-friendly Congressman Cynthia Lummis, who will also attend, has even reported that she will introduce legislation on "Bitcoin being listed as a U.S. reserve asset."

Bitcoin has been rising from the low of 63,456 on 7/25, hovering around 68K before the deadline, up 1.5% in 24 hours.

According to statistics from SoSoValue, the Bitcoin spot ETF showed a net inflow of US$51.66 million on 7/26.

The trend of Ethereum is flat, Grayscale ETHE still has an outflow of US$360 million

Affected by the continued outflow of Grayscale ETHE funds, the trend of Ethereum is relatively weak. According to statistics from SoSoValue, Ethereum spot ETF showed a net outflow on 7/26 US$163 million, with a total outflow of US$340 million since listing.

However, the asset size of the nine Ethereum spot ETFs has reached US$9.24 billion, accounting for 2.36% of the total market value of Ethereum.

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