The latest research from Matrixport Research Institute shows that the general trend of the crypto market is positive. The main factors are as follows:
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Stablecoin daily minting data increased BTC mining hash rate increased, BTC price is expected to rise
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Trump may announce that BTC will be included in the US strategic reserve assets, and the expectation of BTC rising due to the election continues to be released
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ETH ETF finally approved, first-day trading volume is 20-25% of BTC ETF trading volume
BTC maintained its upward momentum over the past week, driven by factors including: increased stablecoin minting, increased BTC mining hash rate, speculation that Trump might include BTC in his strategic reserve assets if he wins the election, and the successful launch of the ETH ETF.
Stablecoin daily minting data increased BTC mining hash rate increased, BTC price is expected to rise
Recently, the daily minting volume of stablecoins has increased, and the inflow of fiat currency-crypto assets has increased. Based on past experience, this means that funds are flowing from traditional financial markets to the crypto asset field, and the crypto market trend is positive.
The BTC mining hash rate, one of the main indicators of the Bitcoin rally, has risen. Although some mining machines have been forced to shut down due to unprofitability, BTC inventory has not decreased but increased, and future price increases are expected. The recovery of the hash rate has reduced the pressure on miners.
Trump may announce that BTC will be included in the US strategic reserve assets
As of 2024, nearly 35-38% of the worlds BTC mining activities take place in the United States. The United States is the largest BTC mining country in terms of hash rate. Former US President Trump declared that he wanted the remaining BTC to be mined in the United States and used BTC as a strategic move to consolidate US energy hegemony and counter the influence of countries such as China and Russia. Trump also emphasized the potential benefits of US-based BTC mining for energy grid stability and national economic interests.
It is said that at the 2024 BTC conference to be held in Nashville at 2 pm on July 27, Trump will deliver a keynote speech, which is suspected to announce the inclusion of BTC in the US strategic reserve assets. BTC miners will be the main beneficiaries. However, this news has not been officially confirmed, but crypto investors have high expectations for it.
ETH ETF finally approved, first-day trading volume is 20-25% of BTC ETF trading volume
Preliminary data shows that BTC ETF trading volume has reached 20-25% of BTC ETF trading volume, which means that $3.2-3.5 billion of capital inflows are expected in the next six months. Due to the lack of marketing and large-scale promotion activities, the initial capital inflow may be small.
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This article is sourced from the internet: Matrixport Investment Research: Daily coin minting data rebounds, and the general trend of the crypto market is positive
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