Daily Market Brief

Aug 7, 2024

Daily Market Brief 240807

Peter-Headshot
Peter Chung
Min-Headshot
Min Jung
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  • After Black Monday, both the crypto and equities markets have shown signs of recovery. The Nikkei 225, which dropped 12.4% on Monday, was up 10.23%, the Nasdaq rose by 1.03%, and the S&P 500 rose by 1.04%. In the crypto market, $BTC is now trading at $56,057, up 3.9%, and $ETH is trading at $2,461, up 1.9%.

  • On the Bitcoin ETF front, we observed a continuous outflow on Monday, with $IBIT recording zero inflows. However, on the ETH ETF side, there was a small net inflow of $48.8M.

  • Key headlines include Capula Management reporting $464M in Bitcoin ETF holdings, the CEO of the $STRK foundation stepping down, and Hyperliquid reaching a new all-time high in 24-hour perps volume.

  • During the last 24 hours, the top three gainers were $MEW, $DOG, and $NOT, while the top three losers were $MKR, $GAL, and $WEMIX.

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Peter-Headshot
Peter ChungHead of Research
Min-Headshot
Min JungResearch Analyst