September 12 update—no wonder ETH surged; we found the reasons
1. The ETF market: Yesterday, Bitcoin saw a net outflow of 172 BTC, while Ethereum had a net inflow of 88,800 BTC
That’s why Ethereum surged last night—there was capital backing it, and it was also the day with the largest inflow this week. Bitcoin recorded a net outflow, but the amount wasn’t large, so it’s not a big issue.
2. The Fear & Greed Index: 63 — Greed
3. The BTC.D index: 59.20. Thanks to that last night rally led mainly by altcoins stronger than before, Bitcoin’s dominance is inching back toward 59.
4. The M2 indicator: This week it’s been range-bound at low levels. Starting next Monday, a new round of upside move should begin, and it should continue through the end of November
Summary: After a short-term spike last night, Bitcoin fell again, dragging the whole altcoin market down with it. Meanwhile, Ethereum has been much stronger overall. Next week has two major events: first is the vote on the “CLEAR Act” on the 15th. On the 17th, there’s a possible Fed meeting. Both are “wild-card” level.
$BTC
#CPI数据来袭能否触发9月加息
1. The ETF market: Yesterday, Bitcoin saw a net outflow of 172 BTC, while Ethereum had a net inflow of 88,800 BTC
That’s why Ethereum surged last night—there was capital backing it, and it was also the day with the largest inflow this week. Bitcoin recorded a net outflow, but the amount wasn’t large, so it’s not a big issue.
2. The Fear & Greed Index: 63 — Greed
3. The BTC.D index: 59.20. Thanks to that last night rally led mainly by altcoins stronger than before, Bitcoin’s dominance is inching back toward 59.
4. The M2 indicator: This week it’s been range-bound at low levels. Starting next Monday, a new round of upside move should begin, and it should continue through the end of November
Summary: After a short-term spike last night, Bitcoin fell again, dragging the whole altcoin market down with it. Meanwhile, Ethereum has been much stronger overall. Next week has two major events: first is the vote on the “CLEAR Act” on the 15th. On the 17th, there’s a possible Fed meeting. Both are “wild-card” level.
$BTC
#CPI数据来袭能否触发9月加息
