The US July CPI data was slightly lower than expected, hitting a new low since March 2021, which is widely believed to further push the Fed to cut rates in September, with current market expectations expecting a 25BP rate cut. Both the U.S. stock market and crypto market fell along with the data, with ETH falling the most significantly, by more than 4%.After the ETF was passed, ETH price was extremely weak, leading the way in the decline, with a very weak rebound. From the options data, short-term IV declined further, skew favored put options, Block trading was less, the main transaction was selling forward deep OTM calls, the market sentiment was more depressed.
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