🧧 With a clear sense of principle in your heart, you don’t blindly follow the tide. Proceed rationally and calmly, build consensus, and empower dreams—LUCIC.
💥The Tao that can be told is not the eternal Tao; the name that can be named is not the eternal name. Explanation: A Tao that can be spoken of is not the immutable, ever-lasting Tao; a name that can be given is not the eternal appellation. The source of all things is difficult to describe fully in words.
🚀 September 11|Crypto Market Brief $BNB 🧧 📉 Before the CPI release, the market remains under pressure
BTC is currently around $77.2K, down about 1.7% over the past 24 hours; ETH around $2,441; SOL around $99.7; BNB has fallen back to around $707.8.
The market is waiting for today’s U.S. CPI data, while the Federal Reserve will hold its policy meeting on September 15–16.
Earlier-hot PPI, higher U.S. Treasury yields, and a rise in oil prices have all dampened risk appetite.
🧲 Pressure appears in Bitcoin ETF fund flows
After a period of strong institutional demand, spot BTC ETFs have recently seen renewed consecutive outflows, and BTC has also fallen back below $80K.
Now the market’s main question is simple:
Will CPI bring in fresh buying, or will it further confirm a risk-off trend?
🏛 Crypto regulation continues to advance
The SEC has approved Nasdaq Texas’s updated listing rules for commodity trusts, allowing qualifying commodity-linked trusts to allocate up to 15% of NAV to certain digital commodity-related assets, among others.
Meanwhile, the CLARITY Act remains a key focus. The U.S. Senate is expected to hold a crucial procedural vote on September 15.
Fed rate-hike expectations heat up: a tug-of-war between data and debt
After the U.S. August PPI data was released last night, market expectations for a Fed rate hike in September quickly rose to about 70%. Both the crypto market and U.S. stocks plunged; at the open, all three major U.S. stock indexes fell across the board. Tech and semiconductor stocks faced the most pressure, with the Philadelphia Semiconductor Index dropping more than 3% at one point. Notable declines were seen in Intel, SK hynix, Micron, and others.
Bitcoin fell more than 2%–3%, briefly dropping below the $77,000 level. Major cryptocurrencies such as Ethereum also weakened in tandem. The entire market saw a large-scale liquidation event (according to statistics, more than 160,000 people).
Overall PPI rose 0.4% month-on-month, while the year-on-year figure accelerated to 5.4%; core PPI was relatively more moderate. Energy prices were pushed higher by the Middle East situation, and were the main driver. Tonight’s CPI will be the key: if the core data runs hot, the probability of another rate hike may rise further; if it is mild, expectations could ease.
Despite the market’s fairly hawkish pricing, some believe rate hikes are “impossible.” The reason is that U.S. debt has surpassed $40 trillion. Further rate hikes would push up long-term bond yields, increase interest burdens, and ultimately result in nobody wanting to buy U.S. Treasuries. Recent increases in long-term yields and the limited effectiveness of the Treasury’s buyback operations seem to validate this concern. There was also a mysterious options trade yesterday, with $14 million bet on the 10-year U.S. Treasury yield breaking 5%.
However, this is not a foregone conclusion. There is still buying support at auctions; higher yields can actually attract institutions pursuing returns. If the market expects a rate hike but it ultimately stays on hold, expectations could be questioned due to the Fed’s anti-inflation resolve, which may push up the term premium and put additional pressure on long-duration bonds. The Fed’s top priority remains controlling inflation, not simply accommodating fiscal needs.
In short, PPI has lifted rate-hike expectations, and tonight’s CPI will set the tone for the near-term direction. This tug-of-war is the clash between market reality and hidden debt concerns.
Fellow readers, make sure to manage your positions and DYOR on your own. Feel free to exchange ideas and discuss together! $BNB $ZEC #美国8月PPI涨幅低于预期 #美国续请失业金人数177.4万 #苹果发布首款折叠屏手机 $AAPL.US