U.S. August PPI YoY came in at 2.6% and MoM at –0.1%. This reflected a material cooling of wholesale inflation, with markets rallying.
Bitcoin pushed to $114,000 after the print, crossing the decisive $113,000 level, while spot BTC ETFs recorded $757 million net inflows on Sept 10 (third straight day).
Ethereum spot ETFs posted $172 million in inflows yesterday while Bitmine received 46,255 ETH ($201 million), taking its holdings to 2,126,018 ETH ($9.24 billion).
Futures open interest jumped to 84.86 billion for BTC, as liquidations eased to 37.96 million, with shorts bearing the brunt.
CPI tomorrow is the near-term event risk; a second downbeat print would likely accelerate the current risk-on move.
As more traders position for downside following Bitcoin’s recent pullback, futures market pressure is building. With key support near $68,000 and resistance at $70,000, technical indicators suggest volatility ahead as the market searches for direction.
As Bitcoin slips back below $69,200 after failing to hold $70,000, onchain data points to a critical long-term support near $45,225 based on the CVDD metric.
Latest move by Japanese financial giant SBI Holdings marks a major consolidation in Singapore's digital asset sector as institutional demand for tokenization surges.
