đ BTC Pumps to $116K+
Bitcoin is on the move, climbing past $116,000 â the highest this month!
This pump is fueled by weaker-than-expected U.S. jobs data â markets expect the Fed to cut interest rates in September.
According to CMEâs FedWatch Tool, there's now a 93.4% chance of a 25bps rate cut! đŠ
Risk assets like BTC and stocks are getting a boost.
đŠ Big Investors Still Bullish
đ Michiganâs state retirement system (SMRS) is increasing BTC exposure via spot ETFs.
Thatâs long-term institutional confidence in crypto!
đ BTC Volatility Drops
Despite the rally, BTC volatility is shrinking â lowest since Oct 2023 (when BTC was under $30K!).
This mirrors Wall Street bull markets, where lower volatility means growing confidence.
Projects offering yield through options may also be calming the price swings.
đ Macro Moves & Geopolitics
Global markets are strong:
Nikkei +0.65%
Euro Stoxx +1.2%
Nasdaq +1.2% (thanks to chip news + Trumpâs dovish Fed hints)
But geopolitics are heating up:
Trump added a 25% tariff on India over Russian oil.
Ukraine peace talks are slow â geopolitical risks remain.
đ Whatâs Coming Up?
đ Key Crypto Events:
Aug 7: Circle webinar on the new stablecoin law
Aug 15: FTX claims distribution record date
Aug 18: Coinbase launching nano SOL & XRP futures
đ Key Macro Events:
Aug 7:
UK interest rate decision
Brazil & Mexico inflation data
Mexico rate decision
Aug 8: Fed Governor Kugler resigns â Trump will nominate a replacement
đ Earnings to Watch:
Aug 7-12: Hut 8, Block, CleanSpark, Cipher Mining, TeraWulf, Bitfarms, Fold, and more releasing earnings
đ TL;DR:
â Bitcoin is surging
â Fed rate cut odds are rising
â Institutions are buying
â Volatility is dropping
â ïž Geopolitics still a wildcard
đŹ Are you feeling bullish or cautious this week?
Drop your thoughts đ and donât forget to follow for more daily insights! đ