Last night, the broader market weakened again. I think it was mainly driven by news and headlines, not because the crypto market itself suddenly saw any major negative catalyst.
The U.S. PPI year over year rose to 5.4%, and oil prices have broken back above $100. Concerns about the Fed raising rates again in September have intensified, and U.S. stocks also kept falling consecutively. As a result, the crypto market was pressured and pulled back.
Today, I’m watching a few key levels first:
For BTC, the main support is around 76,000. If it can’t hold, the next level to watch is around 75,000.
For ETH, first watch around 2,400. If it breaks below, then look around 2,350.
SOL has already fallen back below 100. In the short term, focus on around 97. If it continues to weaken, then look around 95.
I think the most important thing right now is tonight’s U.S. CPI at 20:30. As long as CPI doesn’t come in noticeably above expectations again, this round is more likely to be a defensive pullback ahead of the news release, and BTC still has a chance to rebound later to the 79,000–80,000 range. Conversely, if inflation stays elevated and rate-hike expectations rise further, the broader market will likely continue to face pressure in the short term.
So today’s plan is simple: before the news comes out, trade the contracts mainly for intraday short-term swings. For spot, it may be better to wait for the CPI result; if there’s another pullback, it could be a better opportunity to consider building positions in batches—prioritizing major coins with good liquidity and the stronger sectors that have been showing momentum recently.
$BTC $ETH $SOL #BTC #ETH #solana