*By Jacqueline Corba*
The crypto world is turning to institutional investors to get the market out of its summer slump.
"This year, it's not *only* an asset that's only gone up, but it has great trading range, and that attracts a different type of institution where they see that volatility as an opportunity," Harbor Peak partner Paul Johnson said Thursday on Cheddar's CryptoCraze.
"But they are still, to some degree, trapped on the sidelines mostly for technical and institutional reasons ー not for any kind of market reasons," he said.
Bitcoin dropped Thursday below the $7,000 threshold, a mark it has hovered around for much of the summer. And it's a far cry from its all-time high close to $20,000 back in December of 2017.
"Short-term I think you are in a tight trading range through the fall," Johnson said.
The market is also anxiously awaiting approval of a Bitcoin ETF by the SEC. The agency rejected several proposals [last week] (https://cheddar.com/videos/sec-rejects-some-bitcoin-etf-proposals).
Johnson said the SEC is wary that its approval may signal investors to act too quickly.
"If they endorse an ETF they almost feel like they are telling retail and institutional investors this is a green light, and I think that makes them very nervous," he said.
For full interview [click here](https://cheddar.com/videos/why-many-institutional-investors-are-trapped-on-sidelines-of-crypto).
Shan Aggarwal, VP of Corporate and Business Development at Coinbase, discusses the company's acquisitio of Deribit as it heads into the S&P 500. Watch!
American businesses that rely on Chinese goods are reacting with muted relief after the U.S. and China agreed to pause their exorbitant tariffs on each other’s products for 90 days. Many companies delayed or canceled orders after President Donald Trump last month put a 145% tariff on items made in China. Importers still face relatively high tariffs, however, as well as uncertainty over what will happen in the coming weeks and months. The temporary truce was announced as retailers and their suppliers are looking to finalize their plans and orders for the holiday shopping season. They’re concerned a mad scramble to get goods onto ships will lead to bottlenecks and increased shipping costs.
Shopping expert Trae Bodge discusses how talks between the U.S. and China is good news for now, but uncertainty remains for back-to-school and the holidays.
Jake Traylor, White House reporter at Politico, joins Cheddar to discuss how Trump is aiming to lower drug prices and how it differs from Biden's approach.
DJ X, alongside Molly Holder, Senior Director of Product Personalization, takes us inside Spotify's A.I. DJ and how it's the best new way to listen to music.
