USDT continues to dominate, accounting for 78.4% of volumes among the top 10 stablecoins by market capitalization.

CME Group futures now represent over 83% of the calendar futures market for Bitcoin and 65% for Ethereum, highlighting CME's growing influence in institutional trading

Spot ETH ETFs are slated to launch on July 23, just over two months after the SEC approved a rule change for exchanges to list these funds.

Grayscale will convert its ETHE trust into a spot ETF as well as launching a mini trust which will be seeded with $1bn from the former fund.

In a similar fashion to its BTC ETF decision Grayscale kept ETHE’s fee significantly higher than competitors, at 2.5%.

Bitcoin dominance reached a high of 53.68% yesterday, its highest level in three years since April 2021

Touch the grass

$259M from 97,000 traders liquidated last 24H! 85% of them were $BTC longs.

1 Billion + Stables Wiped Out Of Traders

Digital asset investment products saw outflows for the first time in 4 weeks totalling $528m in what we believe is a reaction to fears of a recession in the US, geopolitical concerns and consequent broader market liquidations across most asset classes.

Bitcoin saw outflows totalling $400m, the first following 5 weeks of inflows.  Ethereum saw outflows totalling $146m, bringing the net outflows since the ETF launch in the US to $430m.

A federal judge has ordered Ripple to pay a $125 million civil penalty to the Securities and Exchange Commission (SEC), effectively drawing a close to their protracted legal dispute.

While the financial penalty is substantial, the core of the SEC's case, classifying XRP as a security, has been dismissed.

600k BTC has changed hands between $66.2k & $66.9k price levels

Recent market data indicates a substantial $9 billion in Bitcoin short positions are vulnerable to liquidation if the Bitcoin's price ascends to the $68,000 level.

This significant short interest suggests a prevailing bearish sentiment among market participants.

2Q24 13-F filings for US spot Bitcoin ETFs revealed a rise in institutional inflows

BTC futures basis has completely bled out from 30% earlier this year to ~5% now.

Bitcoin Dominance has surged from 38% in Nov 2022 to a notable 56% today. Meanwhile, Ethereum, the second-largest asset, saw its dominance decline by 1.5%, remaining relatively stable over the past two years.

In contrast, Stablecoins and the broader Altcoin sector experienced more significant declines of 9.9% and 5.9%, respectively.

🟠Bitcoin Dominance: 38.7% (Nov 2022) —> 56.2% (Current)
🔵Ethereum Dominance 16.8% —> 15.2%
🟢Stablecoin Dominance 17.3% —> 7.4%
🟣Altcoin Dominance 27.2% —> 21.3%