🪙Cryptocurrency market review
😀The market is being rocked. Yesterday there were some sharp movements, I didn't find adequate triggers for this fundamental. Today, the market waited for US statistics and sagged a bit, the producer inflation report came out good, the stock market rushed up and the cryptocurrency market, also started to bounce.
CME (Chicago Exchange) has an open gap to close, it needs to reach $61,000, a good target for today.
Most alts are quiet today. In the big meme coins a slight decline, DeFi tokens CRV and MKR are noticeably better than the market. If CRV's leapfrogging, I still can't find an explanation, MKR has excellent metrics and the project is doing well.
😀Weak dynamics in RWA: TOKEN after strong recent growth on the news about lunchpad memes is correcting for the second day, and ONDO looks slightly worse than the market, OM was mercilessly rolled for two days in a row and only today the decline has stopped. The industry doesn't appear oversold yet, but is getting close to it.
SOL looks good overall and is approaching important levels, with the Solana ecosystem showing weakness again today.
The ETF showed token positivity in cash flows yesterday.
BTC: +$27 million
ETH: +$5 mln
TON started so sharply to recover from last week's drop, but stalled. I look at the coin with moderate positivity.
Musk - Trump interview turned out to be bland and had no impact on the market.
😀TradFi
PPI (producer inflation) report came out better than forecast, if CPI (consumer inflation) comes out tomorrow, we will see a nice rise in the market as inflation is almost at the Fed's target.
I recently wrote about the JPY (Japanese Yen) narrative that a new round of appreciation would crash the markets, and for a while the market was sensitive to the JPY, but today the appreciation in the JPY was ignored, most likely due to the general decline of the dollar against other currencies, because of the PPI report.
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