There's a vague sense of momentum building. Can the awful September curse be broken? Let's take a look at the events worth watching this month: 1⃣ September 5th: The US will release August non-farm payroll data. This is very important. The previous reading was 73,000, while the expected reading was 75,000. 2⃣ September 10th: The US will release CPI data, which will better reflect the true inflation trend and is very important. If the CPI data weakens, BTC will have more upward momentum. 3⃣ September 17th: The Federal Reserve's interest rate decision. Powell's speech will be a key anchor in determining market expectations. If nothing unexpected happens, rate cuts are imminent.
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On the funding front, BTC ETFs have seen continuous outflows, exceeding $1 billion this week. However, this trend won't last, as historically, outflows have often been followed by strong rebounds. Whales and institutions are still secretly increasing their holdings, with the ETH ETF even seeing a net inflow of $287 million, contributing to the strength of the ETH/BTC exchange rate.
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Broader market sentiment added to the volatility. Grayscale filed for Delaware trust registrations for potential HBAR and Cardano spot ETFs, using a structure familiar from previous crypto investment products. Meanwhile, Binance expanded BNB Smart Chain functionality to include HBAR and SUI, enabling more efficient cross-chain transactions and increasing retail accessibility. These developments signaled strengthening institutional interest even as near-term price action wavered.
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