Welcome to the morning summary of Asia Pacific: its essential summary of cryptographic developments during the night that the regional markets and the global feeling configure. Monday’s edition is the conclusion of last week and this week’s forecast, presented by Paul Kim. Take a green tea and look at this space.
The expectations of three interest rate cuts this year have returned to the market after an US job report. The main indices of US shares were recovered, but the price of Bitcoin saw a relatively silenced response.
The works report worsens, fuel rate cutting bets
Sponsored
Last week, Bitcoin (BTC) rose 2.72% and Solana (Sun) increased 2.64%. However, Ethereum (ETH) had a lower yield, falling 2.07% during the same period.
The most observed event of last week in the Risk Asset Market was Friday’s launch of the US Non -Agricultural Payroll Report. UU. (NFP). This key indicator can significantly influence the interest rates of the United States and the general liquidity of the market.
Previously, a surprisingly low PFN number of only 73,000 new jobs in July caused fears of an economic crisis. These concerns led the United States Secretary of the Treasury, Scott Besent, to suggest a rate of 100 basic points this year, which helped boost Bitcoin to a new historical maximum of $ 123,000.
August data were weaker than those of July, with only 22,000 non -agricultural jobs added. In addition, a review of the June data revealed a loss of 13,000 jobs, marking the worst performance since 2021.
The unemployment rate also increased 0.1% to 4.3% compared to the previous month. While 4.3% is not a level of crisis for historical standards, dramatic deceleration in employment growth is a concern. This suggests that the labor market could be at a turning point and can deteriorate quickly.
Sponsored
According to the Fedwatch tool, the probability of three Fed rates cuts this year increased once again in response to poor numbers. The price of Bitcoin quickly recovered at the level of $ 113,000.
However, Bitcoin could not hold on to his profits. A recession in the actions related to AI led to a fall in the Nasdaq, which dragged the price of Bitcoin to the low of $ 110,000. There was also a disappointment wave after the strategy (MSTR) was not included in the S&P 500 index.
The US ETF Spot market, which has previously supported the price of Bitcoin during periods of uncertainty, also showed a weak response. On Friday, around $ 160.1 million flowed outside the ETF Spot BTC market, with the Blackrock Ibit seeing an exit of $ 63.2 million, it is first in 10 days.
Ethereum’s struggles highlight market weakness
Sponsored
Ethereum’s situation is even worse. The weekly price trend shows that faces a downward pressure. Its largest growth engine, the spot Etf Market, saw more than $ 780 million in net exits only last week, including $ 446.71 million huge on Friday when the US jobs report was published. UU.
The price of Ethereum has been somewhat resistant, probably due to the continuous purchase of digital assets treasury (DAT). Public companies with extensive ETH holdings, such as Bitmine (152,300 ETH), Sharplink Gaming (39,000 ETH) and the Ether machine (150,000 ETH), have continued accumulating.
Ultimately, US jobs data has worsened and tariff cutting expectations have grown. However, cryptocurrency prices have not been able to see a significant or sustained rally.
While the main Altcoins, excluding ETH, have demonstrated a relatively strong rebound, their profits could be limited if the price of Bitcoin is not maintained. This makes the market management this week crucial.
Sponsored
Will the August CPI and the PPI trigger a BTC rally?
The United States will publish two key inflation reports this week: the Producer Price Index (PPI) and the Consumer Price Index (CPI).
Sponsored
The August PPI is expected to be published on Wednesday, increase 0.3% month by month. Last month, a higher PPI reading than expected of the expectations of cooled rate of 0.9% and was a key reason for which the price of Bitcoin fell from the $ 120,000 to the low of $ 110,000.
Economists expect the CPI to increase 2.9% year after year on Thursday. The central ICC should increase 3.1%, a slight increase in the numbers last month. The weekly unemployment claims that are due to Thursday are another indicator to see.
If these inflation figures do not significantly exceed expectations, speed -cut hopes will be further strengthened. A rally in US risk assets could provide the necessary impulse for Bitcoin and Ethereum. We hope that investors have a profitable week.
