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Following
AVAX 
BNB 
BTC 
DOGE 
DOT 
ETH 
LINK 
LTC 
SOL 
XRP The cryptocurrency market rose in early trading
The global cryptocurrency market showed an upward trend in early trading today. The total market value rose 0.66% to US$2.7 trillion. As of 08:45 Turkish time, Bitcoin prices rose 0.38%, trading at US$78,980.
The altcoin market also showed positive sentiment. Ethereum rose 0.78% to break the $2,500 mark; Ripple (XRP) rose 2.55% to hit $1.42; and Solana rose 0.88% to $104.11.
What signals does the outflow of funds from Bitcoin and Ethereum ETFs reveal?
Despite the rise in prices, capital flows in the spot ETF market showed a more cautious outlook. On September 8, the U.S. spot Bitcoin ETF showed a net outflow totaling US$46.65 million. On the same day, the Ethereum ETF also recorded a net outflow of US$24.29 million. This shows that despite the short-term price rise in the cryptocurrency market, the flow of funds from institutional investors has not yet sent a strong buy signal.
In terms of altcoin ETFs, the flow of funds shows a polarized trend. The XRP ETF received a net inflow of US$1.55 million, and the HBAR ETF received a net inflow of US$431.18 million. In comparison, HYPE ETF outflows of $12.96 million and Solana ETF outflows of $667.72 million. In addition, ETFs of DOGE, BNB, LINK, LTC, AVAX and DOT did not show significant capital flows on September 8.
Why are oil prices and geopolitical risks so important?
The cryptocurrency market is not only influenced by digital asset news, but also deeply restricted by macro factors. Brent crude oil prices are approaching $100 a barrel, reigniting global inflation expectations. Previously, geopolitical risks in the energy market were further exacerbated due to the U.S. attack on Iranian oil tankers and subsequent missile counterattack, as well as the Houthi attack on the capabilities of Saudi Arabia's refining facilities.
The rise in oil prices has heightened concerns that global inflationary pressures may build again. As a result, investors are recalibrating their expectations for the future of monetary policy.
How will Fed interest rate expectations affect the crypto market?
High yields in the U.S. bond market are also a factor suppressing risky assets. Currently, the yield on the 10-year Treasury bond remains at around 4.8%, while the yield on the 2-year Treasury bond is above 4.3%. High bond yields have prompted investors to reassess their capital allocation strategies. Current market pricing shows that the probability of the Fed raising interest rates next week is about 60%.
Jasper De Maere, an OTC trader at Wintermute, pointed out that the market is increasingly focusing on interest rates rather than events specific to cryptocurrencies. He said that economic data released before the FOMC meeting on September 15-16 may increase market volatility, and emphasized that the price range of US$75,000 to US$82,000 remains important for Bitcoin.
What signals will the producer price index (PPI) and consumer price index (CPI) provide for Bitcoin?
Before the Fed meeting, the two most important economic data were the U.S. producer price index (PPI) and consumer price index (CPI). The PPI will be released on Thursday and the CPI will be released on Friday. Markets expect core inflation to fall back to 2.4%. The released data will directly affect market expectations for interest rate policy before the Federal Reserve's September 15 - 16 FOMC meeting.
Therefore, Bitcoin's movement around US$79,000 cannot be explained by technical indicators alone. Only when a comprehensive evaluation is carried out based on ETF capital flows, oil prices, bond yields and inflation data can a more comprehensive market analysis conclusion be drawn.
This content does not constitute any investment advice. Markets are highly risky and investors should conduct independent research before making decisions.
