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Share link:In this post: Institutional investors jumped on the BTC dip this week, buying big as prices dropped. Spot Bitcoin and Ethereum ETFs saw major cash inflows, especially midweek, as the market began to recover. Morgan Stanley started promoting Bitcoin ETFs to wealthy clients, pushing other big players to consider doing the same.
Share link:In this post: Bitcoin, Ethereum, and Solana took a beating this week, with their biggest drops since 2022. The market was on a high in July, but momentum traders started pulling back, signaling potential trouble. After a wild sell-off, traders quickly jumped back in to buy the dip as liquidations slowed down.
The spot Bitcoin ETFs were in the red in four of the past six days.
- 22:31Tesla Has Made No Cryptocurrency Transactions in the Past Three Months, Currently Holds Nearly $1 Billion in BitcoinAccording to Jinse, Tesla holds nearly $1 billion in Bitcoin. The Financial Accounting Standards Board now requires digital assets to be marked to market quarterly. Tesla's first-quarter revenue was $19.34 billion, falling short of analysts' expectations, who had previously projected revenue of $21.37 billion. As of March 31, Tesla's digital asset holdings were valued at $951 million, down from $1.076 billion on December 30 of the previous year, due to a drop in Bitcoin prices. Tesla currently holds 11,509 bitcoins on its balance sheet. Data from Arkham indicates that Tesla has not conducted any transactions in the past three months.
- 22:31Fed Official Kashkari: Must Ensure Tariffs Do Not Trigger Persistent InflationJinse reports that Minneapolis Fed President Neel Kashkari stated that the Federal Reserve is responsible for ensuring that tariffs do not trigger persistent inflation issues, echoing recent remarks by Fed Chairman Powell. "We are just not sure if this will have a one-time effect on inflation or a long-term impact," Kashkari said at a U.S. Chamber of Commerce event in Washington on Tuesday. "Our job at the Federal Reserve is to ensure that this does not lead to a longer-term effect."
- 22:31Trump: Trade Losses Brought by the Biden Administration Will Never ReturnJinse reports that U.S. President Trump stated that in the last year of Biden's term, we were losing $5 billion every day, and their actions in trade were simply a disaster. However, now this number has significantly decreased because we have imposed a 25% tariff on the automotive industry, and also a 25% tariff on steel and aluminum, with a basic tariff of 10%. We almost lost $2 trillion in trade. But those days are gone, and we won't let them happen again. We will not allow such things to happen again.