The mood cooled off a bit first.
Alternative Fear & Greed fell from 69 yesterday to 56.
It’s still hanging in the greed zone.
But it’s no longer as restless as the day before.
$BTC This time, it’s probably around 77,000.
Over the past 24 hours, it has basically shed 1.8%.
The high was touched at 78,560.
The low dipped to 76,460.
ETH is around 2,450—down less than a single point in a day.
The funding situation doesn’t look great either.
The U.S. spot Bitcoin ETF saw net outflows of about $120 million on the 9th.
On the other side, ETH actually attracted more than 30 million.
SOL also came in with roughly 10 million.
The money is being moved—not running together.
Don’t read the macro like a calendar.
Friday’s CPI is the next shot.
At CME, the odds of a 25bp hike in September have already reached around 70%.
In the morning, the PPI tightened a bit.
Over in Europe, interest rates have just been tweaked too.
Risk assets have been getting hit one after another these past two days.
Sectors have been vomiting for two consecutive days.
The top seven assets still account for more than 90% of the market value within the top 100.
Liquidity is still concentrated at the top.
Don’t expect the knockoffs to lead the turnaround first.
I’m not in a hurry to jump in and copy trades right now.
Let’s first see whether the numbers get smashed on Friday, then we talk about positioning.