September 16
Market trend
BTC fell, while most altcoins fell across the board. US stocks fell, and oil prices rose.
Market highlights
1. BTC dropped to around a one-month low. The US Senate’s Clarity Act procedural vote did not pass, cooling expectations for crypto regulation. Crypto-related stocks such as Coinbase, Circle, and Galaxy fell in tandem.
2. ARB rose against the trend by about 14%. The market focus on Standard Chartered’s bullish view on ARB and expectations for Robinhood Chain revenue.
3. The AI theme led the decline. TAO fell by about 6%, FET by about 8%, and Render and Virtual also pulled back. On-chain AI beta continued to weaken.
4. Small-cap coins diverged: VTHO, SAGA, and FFX/X rose, while INJ, REZ, FIL, CVC, and MARSCOIN plunged. Continued profit-taking was seen in previously squeezed/short-squeeze coins.
5. The market is pricing the Fed as raising rates by 25 bps, but it still worries that the post-meeting guidance could be more hawkish.
Today’s Fear & Greed Index: 51 Grade: Neutral
Market trend
BTC fell, while most altcoins fell across the board. US stocks fell, and oil prices rose.
Market highlights
1. BTC dropped to around a one-month low. The US Senate’s Clarity Act procedural vote did not pass, cooling expectations for crypto regulation. Crypto-related stocks such as Coinbase, Circle, and Galaxy fell in tandem.
2. ARB rose against the trend by about 14%. The market focus on Standard Chartered’s bullish view on ARB and expectations for Robinhood Chain revenue.
3. The AI theme led the decline. TAO fell by about 6%, FET by about 8%, and Render and Virtual also pulled back. On-chain AI beta continued to weaken.
4. Small-cap coins diverged: VTHO, SAGA, and FFX/X rose, while INJ, REZ, FIL, CVC, and MARSCOIN plunged. Continued profit-taking was seen in previously squeezed/short-squeeze coins.
5. The market is pricing the Fed as raising rates by 25 bps, but it still worries that the post-meeting guidance could be more hawkish.
Today’s Fear & Greed Index: 51 Grade: Neutral