FameEX Morning Crypto News Recap | August 16, 2024

701 New Funds Now Report Holding Bitcoin Spot ETFs

After the second-quarter 13F report deadline, 701 new funds reported holdings in spot Bitcoin ETFs, bringing the total number of holders to nearly 1,950. Hedge funds, pensions, and banks are increasingly investing in direct Bitcoin ETFs, indicating sustained strong interest in cryptocurrency assets.

Real Vision Analyst Anticipates Significant Bitcoin Surge Ahead

On August 15, Real Vision analyst Jamie Coutts shared on X that central banks are easing, liquidity is rising, and Bitcoin is set for a significant surge. The Global Liquidity Momentum Composite Model (MSI) gave its first bullish signal since November 2023, after Bitcoin's 75% rise from November to April before turning bearish.

JPMorgan Cautions That Strict Regulation Could Undermine Tether's Market Dominance

JPMorgan's report on Wednesday warned that stricter stablecoin regulations could challenge Tether's market dominance. The European MiCA Directive requires 60% of stablecoin reserves to be held in European banks, potentially compelling Tether to adjust its reserve management strategy to comply with these new rules.

U.S. Retail Sales Climb 1.0% in July, Easing Concerns of Economic Slowdown

U.S. retail sales increased by 1.0% in July, surpassing expectations, while June's sales were revised down to a 0.2% decline. The continued demand might prompt markets to lower expectations for a 50 basis point rate cut next month. However, with modest inflation in July, a 25 basis point rate cut remains probable.

Philippine Central Bank Initiates Interest Rate Cut, Possibly Influencing Other Asia-Pacific Central Banks

ING analyst Robert Carnell described the Philippine Central Bank's rate cut as bold, being one of the few in Asia to act before the Federal Reserve. Although the bank hinted at a rate cut in August, recent inflation spikes had cast doubt on the move, making the decision unexpected.

BlackRock Becomes the Largest Digital Asset Fund Manager, Surpassing Grayscale

CoinShares research director James Butterfill announced on X that BlackRock has recently surpassed Grayscale, becoming the largest digital asset fund management company by total assets under management.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.​