FameEX Morning Crypto News Recap | August 16, 2024

701 New Funds Now Report Holdings in Bitcoin Spot ETFs

Following the deadline for second-quarter 13F reports, 701 new funds reported holdings in spot Bitcoin ETFs, raising the total number of holders to nearly 1,950, according to recent data. Hedge funds, pensions, and banks are increasingly investing in direct Bitcoin ETFs, reflecting continued strong interest in cryptocurrency assets.

Real Vision Analyst Forecasts Major Bitcoin Surge Soon

On August 15, Real Vision analyst Jamie Coutts shared on X that central banks are easing, liquidity is increasing, and Bitcoin is poised for a significant rise. The Global Liquidity Momentum Composite Model (MSI) issued its first bullish signal since November 2023, after Bitcoin had surged 75% between November and April before turning bearish.

JPMorgan Warns That Strict Regulation Could Challenge Tether's Market Dominance

JPMorgan's Wednesday report highlighted that stricter stablecoin regulations could significantly challenge Tether's market dominance. The European Markets in Crypto-Assets (MiCA) Directive mandates that 60% of stablecoin reserves be held in European banks, potentially forcing Tether to revise its reserve management strategy to comply with these new regulations.

U.S. Retail Sales Increase by 1.0% in July, Alleviating Economic Slowdown Worries

U.S. retail sales rose by 1.0% in July, exceeding expectations, though June's sales were revised down to a 0.2% decline. The sustained demand may lead markets to reduce expectations for a 50 basis point rate cut next month. With modest inflation growth in July, a 25 basis point rate cut remains likely.

Philippine Central Bank Leads with Interest Rate Cut, Potentially Sparking Similar Moves Across Asia-Pacific

ING analyst Robert Carnell noted that the Philippine Central Bank's decision to cut interest rates was bold, as it's among the few in Asia to do so before the Federal Reserve. Although the bank hinted at an August rate cut, recent inflation spikes have cast doubt on this move, making the decision even more surprising.

BlackRock Overtakes Grayscale as the Largest Digital Asset Fund Manager

CoinShares research director James Butterfill revealed on X that BlackRock has recently overtaken Grayscale to become the largest digital asset fund management company in terms of 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.