Daily Market Brief

Jul 3, 2024

Daily Market Brief 240703

PC
Peter Chung
MJ
Min Jung
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  • Even with the S&P 500 printing an all-time high, $BTC traded rangebound, currently at $62,103, down 1.3%, and $ETH at $3,421, down 0.6%. On the ETF front, there was a $129.5M net inflow on Monday.

  • On the macro front, Powell says the Fed has made “quite a bit of progress” on inflation but needs more confidence before cutting rates. The market is expecting a 67% probability of a rate cut in September.

  • A few notable headlines include Pump.fun becoming the 1st on the 24-hour revenue outpacing Ethereum, zkSync unveiling Elastic Chains, and Robinhood considering listing crypto futures in the US and Europe.

  • During the last 24 hours, the top three gainers were $POPCAT, $RAY, and $BEAM, while the top three losers were $PENDLE, $TAO, and $MOG.

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PC
Peter ChungHead of Research
MJ
Min JungResearch Analyst