📈Market Colour 07/06/2024

🔸 ETFs: ETFs observed 18 consecutive days of net inflows, the longest streak of positive inflows recorded since its launch. The ETFs have recorded massive inflows of $886.6M, $488.1M and 217.7M in the past 3 days. Franklin Templeton, issuer of a Spot $BTC ETF, is considering an institutional investment fund focused exclusively on altcoins.

🔸 $BTC & Macro: In line with expectations, ECB cuts interest rates by 25bps for the first time since 2019. QCP Capital predicts that favorable macro reports from the US (jobless claims and CPI) within the next week may push $BTC to an ATH. Furthermore, Standard Chartered expects $BTC to hit $100K ahead of the US elections and touch $150K by year-end in the case of a Trump victory.

🔸 IOTA: IOTA has launched its L2 EVM network that focuses on DeFi applications and RWA. Following this news, IOTA OI rose 13% in the last 24 hours with its annualized funding rate stable at 10.95%.

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