The overnight market is rather subdued, with BTC moving sideways around $86,260 (-0.10%) and ETH also slipping slightly to $2,753 (-0.61%). Market breadth remains modestly positive at 67%, but total volume is only $6.99 billion. 😐
Despite the August headline CPI matching expectations at 3.4% YoY, core CPI and the month-over-month figures came in hotter than expected, implicitly raising major questions about the Fed’s upcoming rate policy. If the Fed takes a more hawkish stance, pressure on risk assets such as crypto is hard to avoid. Even though the macro news isn’t particularly favorable, BTC is still absorbing the inflows into recent ETFs well, helping it hold above the $85,000 level after a strong rally that previously tested an 8-month high. As for ETH, its ETF is currently seeing net outflows.
Turning to altcoins, <$MUBARAK > leads with +78.06%, followed by MARSCOIN at +38.39%. These two coins are showing a strong growth structure, distinctly separate from the broader trend. Meanwhile, ONE is left far behind with -20.69%, possibly representing oversold supply that a large player needs to accumulate. 👀
Despite the August headline CPI matching expectations at 3.4% YoY, core CPI and the month-over-month figures came in hotter than expected, implicitly raising major questions about the Fed’s upcoming rate policy. If the Fed takes a more hawkish stance, pressure on risk assets such as crypto is hard to avoid. Even though the macro news isn’t particularly favorable, BTC is still absorbing the inflows into recent ETFs well, helping it hold above the $85,000 level after a strong rally that previously tested an 8-month high. As for ETH, its ETF is currently seeing net outflows.
Turning to altcoins, <$MUBARAK > leads with +78.06%, followed by MARSCOIN at +38.39%. These two coins are showing a strong growth structure, distinctly separate from the broader trend. Meanwhile, ONE is left far behind with -20.69%, possibly representing oversold supply that a large player needs to accumulate. 👀
