In yesterday’s data interpretation, I mentioned the argument whether CPI can activate the market. At present, it is obvious that the argument has been verified. CPI has activated the recent sluggish market. At the same time, it has also brought a glimmer of hope to cottage industries.

By comparing yesterday's data, I can clearly see that after BTC rebounded downward, the overall market value increased. At the same time, the increase in market value did not come from BTC itself, but from the collective rise of ETH altcoins.

It can be clearly seen from the market share that BTC's share has decreased, ETH's share has increased slightly, and altcoins' share has increased significantly, and the market risk preference has improved.

Considering the trading volume, the increase in BTC transactions and the turnover in the early morning are normal, while the altcoin transactions are still decreasing, indicating that the rise of altcoins today is shrinking, the selling pressure has obviously weakened, and the optimistic sentiment has increased.

Funding:

The market value of stablecoins on the exchange has decreased by 200 million and currently remains at 173.1 billion.

USDT: Official website data is 119.732 billion, a decrease of 124 million compared to yesterday, and the trading volume increased by 11%. Although Asian and European funds consolidated the price rebound during the day, there is still a clear outflow. We will continue to pay attention to whether the outflow will continue.

USDC: The data website shows that the market value increased by 66 million, and the transaction volume increased by 21.71%. It is suspected that a small part of the funds in the US area flowed back. In the first three days of this week, the funds in the US area should have flowed out. Last night's CPI should have appeased the market stability and caused some funds to flow back. Detailed data will be available on the official website tomorrow, Saturday. However, the overall liquidity of funds in the US area is relatively large, especially at the beginning of this week. It is preliminarily determined that there should be a lot of funds flowing out, and then there will be inflows in the next two days.

Summarize:

BTC’s pullback touched the daily support and rebounded, and it maintained a stable rebound during the day and activated the overall market activity, which is a good thing and has met our previous expectations.

This shows that the previous market downturn was caused by an insufficient correction. That is why I have always said that sometimes a price drop is not a bad thing. When the market is sluggish, an appropriate correction to activate market buying volume and activity is also healthier for the future market trend.

As usual tonight, no macro narrative, let's see how the US stock market goes. Focus on S&P. #6万保卫战 #9月美国CPI实现6连降