Altcoins News
By Evie Vavasseur
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Inflation Data Shifts Market Mood. The recent weakness can be traced to U.S. economic data released last week.
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Treasury Comments Add to Pressure. Adding another layer of uncertainty, U.S. Treasury Secretary Scott stated that the government…
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ETF Flows Signal Rotation, Not Exit. Despite the selloff, institutional flows into crypto ETFs suggest that capital is not fleeing the…
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Key Levels to Watch. From a technical perspective, Bitcoin faces immediate support at $115,000, with a further buffer…
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The Road Ahead: Jackson Hole and Jobless Claims. Looking forward, analysts agree that the next major catalyst for the market will come from U.S.
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Broader Implications for Crypto Markets. The latest developments underscore the growing entanglement between cryptocurrencies and…
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Bitcoin and Ethereum both retreated sharply over the weekend as investor sentiment weakened in response to U.S. macroeconomic signals.
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On Sunday evening, Bitcoin was trading at $115,500, down about 2% on the day, according to data from The Block.
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The recent weakness can be traced to U.S. economic data released last week. After a rally fueled by softer consumer price index numbers, sentiment turned when the producer price…
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“Bitcoin’s recent dip reflects cautious investor sentiment amid hotter-than-expected U.S. inflation,” said Vincent Liu, Chief Investment Officer at Kronos Research.
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This shift in expectations is critical for cryptocurrencies, which have benefited from an era of easy monetary policy and heightened risk appetite.
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Adding another layer of uncertainty, U.S. Treasury Secretary Scott stated that the government would not be purchasing Bitcoin for its strategic reserve.
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Market psychology appears caught in the middle ground. CoinMarketCap’s fear and greed index currently stands at 56, indicating a neutral reading.
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Despite the selloff, institutional flows into crypto ETFs suggest that capital is not fleeing the market altogether. Instead, money appears to be shifting between funds.
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Rachael Lucas, a crypto analyst at BTC Markets, noted that Friday saw outflows from Grayscale and Ark Invest’s Bitcoin ETFs, while BlackRock’s IBIT continued to attract net…
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