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US BTC spot ETF tops $5 billion in daily trading volume the day before... Buying on Fear?, CME Fedwatch sees September ban cut as more likely...

According to Cryptoslate, the daily trading volume of U.S. Bitcoin spot ETFs surpassed $5 billion on Friday (local time). This is the first time since mid-April. The previous day, BlackRock's bitcoin spot ETF IBIT had the largest daily volume of nearly $3 billion, increasing its assets under management by $172 million. Fidelity's FBTC traded more than $858 million, making it the second-largest after BlackRock. Grayscale's GBTC saw $693 million in daily trading volume, but saw net outflows of about $148 million. Eric Balchunas, senior ETF analyst at Bloomberg, commented: "BTC bulls don't like to see high trading volumes when the market is in bad shape. This is because it is a reliable indicator of market fear. However, it's also good in the long run to see abundant liquidity on days like this. It's good for traders and institutions," he concluded.

Meanwhile, According to CME Fedwatch, traders see an 83.5% chance that the U.S. Federal Reserve (Fed) will cut its benchmark interest rate by 50 basis points at the September Federal Open Market Committee (FOMC) meeting. That compares to an 11.4% chance just a week ago. Traders also put the odds of a 25-basis-point cut at 16.5%, with no traders expecting a pause.

“Zhao Changpeng's release from prison could boost BNB and 5 other altcoins”

With former Binance CEO Changpeng Zhao set to be released from prison on September 29th (local time), BeInCrypto reports that five altcoins are likely to see an uptick in value. BNB is one of the most prominent coins expected to see price movement following Zhao's release from prison.

blockchain crypto cryptocurrency French Hill blame Gary Gensler (SpotedCrypto)

French Hill : “SEC's approach to regulating crypto firms will only confuse markets”

During a hearing on the Securities and Exchange Commission (SEC) held by the U.S. House of Representatives' Financial Services Committee on March 18 (local time), Congressman French Hill criticized SEC Chairman Gary Gensler's approach to regulating cryptocurrency companies, saying that it is causing confusion and uncertainty

blockchain crypto cryptocurrency us fed ratecut 50bp (SpotedCrypto)

US Fed 'big cuts' interest rates by 0.5 percentage point to bring inflation closer to target, considers another 50 basis point cut later in the year.

The US Federal Reserve's (Fed) Federal Open Market Committee (FOMC) announced in an official statement that it will cut its benchmark interest rate by 0.5%. This is the first rate cut in nearly four years. The Fed raised rates from March 2022 through July of last year.

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