A welcome sight—markets are finally in the green 📈 Driven by statements from Trump and economic news from the US, crypto market capitalization has surged by $200 billion. Futures liquidations were among the highest seen in the past year—nearly $3 billion was wiped out, taking out almost all short positions. And, of course, analysts have already weighed in following this rally: The Coinbase CEO offered his market outlook: the CLARITY Act is set to pass on September 15, "Uptober" (market growth in October) is on the horizon, and the bull run is kicking off. Meanwhile, CZ from Binance hinted that Hyperliquid might not be the only project eyeing the US market; he appears to be referring to Aster and Lighter.
🔥 Trump stated that the SEC Chair is working on bringing Hyperliquid to the US market. 👉 HYPE/USDT trading pair. Other interesting statements from Trump today: ▶ Congress must pass the CLARITY Act—a bill regarding the crypto market structure. ▶ The US must maintain its status as the "undisputed leader" in the crypto space. ▶ The US is discussing plans to accumulate "significant" amounts of Bitcoin and other cryptocurrencies. Trump is really just blowing hot air today, though 😁.
🔥 ETH poised for a breakout Ethereum is holding between key moving averages, while low trading volumes are constraining price movement.
📊 The Ethereum Foundation has launched the Platåberget testnet for early testing of the upcoming Glamsterdam upgrade. A breakout below $1,850 or above $2,000 could set a new direction for ETH.
⚡️Zelenskyy discussed the protection of food supplies from russian attacks with Egyptian President Abdel Fattah El-Sisi, specifically addressing threats to Black Sea exports and the risks of rising prices and food shortages.
According to the President, russian attacks have already led to a significant drop in Ukrainian food supplies to Egypt, Africa, and the Middle East, and two Egyptian citizens were killed during russian strikes on cargo vessels.
📉 Bitcoin under pressure near $63.5K BTC/USD is trading near $63.5K following softer US inflation data.
📊 Weak PPI data reduced the risk of a tighter Fed policy, but a strong labor market is tempering optimism. Outflows from Bitcoin ETFs indicate that the market is not yet ready for a new rally.