Crypto Alert: All Eyes on PPI, CPI & the Fed
Crypto markets moved cautiously on Wednesday. Bitcoin held around $112,000 after hitting an intraday low of around $110.8,000 and a high of $112.9,000. Sentiment was driven by expectations that the Fed will cut interest rates next week; market participants are pricing in a 91% chance of a 25 bps cut, making this week's US PPI/CPI release the next major catalyst.
Ethereum (ETH) moved sideways above $4,300. Flows into US-based Ethereum ETFs turned positive on September 9, recording an inflow of $44 million and breaking a six-day streak of outflows—supporting the price to hold near the $4.28–$4.30,000 support area. This re-inflow into ETH-based products is seen as a sign of recovering institutional interest after last week's large withdrawals.
Among altcoins, Solana (SOL) stood out after hitting a 7-month high, while the overall market remained in consolidation mode. The global crypto market capitalization stands at around $3.99 trillion, with Bitcoin dominating 56%. Market participants are monitoring the return of positive Bitcoin ETF flows and US inflation data to gauge the strength of the next rally. If the data supports the interest rate cut scenario, volatility could increase over the weekend.
Source: Newsmaker.id