This morning, when I opened the app, the whole screen was green, and I’m sure many of you were wondering what event was going on. 🤓 BTC surged hard, closing at $81,244.00, up 5.28% overnight. Ethereum wasn’t far behind either, reaching $2,507.75, up 5.02%. The total crypto market capitalization rose 4.7% to $2.82 trillion.
The main driver came from Fed Governor Waller’s signal to keep interest rates unchanged if inflation cools, significantly reducing the odds of a September rate hike to 50.5%. Spot Bitcoin ETF flows also turned positive again, with $216.7 million in net inflows on 9/2 after the prior outflow period. This shows institutional buying pressure is returning to BTC. However, it’s worth noting that Ethereum, XRP, and Solana ETFs are still seeing outflows.
Among altcoins, $CHIP was the standout, rising 31.46%, while ZEC also gained a hefty 16.37%. On the other hand, T was left behind at -13.80%, and ANKR also cut losses with an 8.66% drop. The market breadth is excellent, with 87/100 top coins in the green. Total 24h volume among the top 100 reached nearly $5 billion. 🧮
The main driver came from Fed Governor Waller’s signal to keep interest rates unchanged if inflation cools, significantly reducing the odds of a September rate hike to 50.5%. Spot Bitcoin ETF flows also turned positive again, with $216.7 million in net inflows on 9/2 after the prior outflow period. This shows institutional buying pressure is returning to BTC. However, it’s worth noting that Ethereum, XRP, and Solana ETFs are still seeing outflows.
Among altcoins, $CHIP was the standout, rising 31.46%, while ZEC also gained a hefty 16.37%. On the other hand, T was left behind at -13.80%, and ANKR also cut losses with an 8.66% drop. The market breadth is excellent, with 87/100 top coins in the green. Total 24h volume among the top 100 reached nearly $5 billion. 🧮
