ETF flow
*Top Bitcoin ETFs net inflow today: BITB 16.54M, IBIT 13.82M.
*US BTC ETFs see 18M outflows, Grayscale leading with 12.14M.
*ETH ETFs see no net inflow today.
*US ETH ETFs see 2.97M outflows, all from VanEck Ethereum ETF.
Desk Flow:
*BTC, ETH, MOCA, TAO, SUI, TON buyers.
*BCH sellers.
News:
*Stocks, bonds, and the dollar saw fluctuations after a key inflation report provided little new information to shift expectations that the Federal Reserve might begin cutting interest rates next month.
*Equities remained mostly unchanged in early New York trading, following the S&P 500’s strongest four-day performance of 2024. Treasury yields showed some volatility, while swap traders factored in about a 40 basis-point Fed rate cut in September, anticipating a total reduction of over 105 basis points for the year. The dollar stayed near its four-month low.
*After the inflation data was released, Bitcoin remained steady at around $61,000, indicating that the market had largely anticipated the figures, leaving Bitcoin's price unaffected.
*In the UK, inflation increased less than economists and the Bank of England had predicted, leading traders to raise their expectations for further interest rate cuts.
Price Action:
*In the last 24 hours, Bitcoin and Ethereum have both seen significant gains, with BTC increasing by 3.39% and ETH by 3.25%. While recent price action and short-term bullish indicators point to the possibility of further upward momentum, caution is advised due to strong resistance levels and mixed longer-term signals.
