The cryptocurrency Queen tries to consolidate over US $110,000 in a context of record sales by long -term investors. Ethereum falls below US $ 400 and Altcoins show disparate behavior.
Cryptocurrencies operate disparate this Tuesday, September 2. He Bitcoin (BTC) is located around US $ s110,000according to Binance, while the Ethereum (eth) is kept under pressure and quoted below US $4,400.
Among the Altcoinsthe panorama is mixed: most cryptocurrencies yield 5.5%headed by Cronos, Dogecoin (-2.7%) and Ethereum (-1.7%). Meanwhile, the increases are led by Bitcoin Cash (3.4%) and Ripple (0.9%).
Performance contrasts with that of goldwhich renews historical maximums once again so far this year. Analysts like Rania Gule, of XS, underline that although Bitcoin was defined many times as “digital gold”, the market perceives it more and more as an asset of growth, sensitive to the monetary cycle and global liquidity.
According to Nick Ruck, by LVRG Research, The gold rebound reflects its role as coverage in the face of devaluation and stock volatility, while Bitcoin begins to act as a complement rather than a competitor in that function.
The markets look towards the Federal Reserve and the Rate Movement
The divergence of yields has as a backdrop the Monetary policy of the Federal Reserve (FED). After Jackson Hole, the Central Bank left the door open to a rate cut in September and the markets discount between one and two additional casualties this year. However, the latest PCE inflation data – giggle above the expected – complicate the stage. This Friday’s employment report will be key to confirm the next steps.
In parallel, the Bitcoin long -term investors They have accelerated sales, with the greatest liquidation of the year last Friday: 97,000 BTCequivalent to almost US3,000 million. For Glassnode, these movements suggest that the market needs time to digest the $ 100,000 zone as a “new floor.”
Despite recent weakness, cryptocurrency investment products recorded net tickets for US $2.5 billion Last week, after the strong exits of the previous one, which could show a renewed appetite for risk.
Source: Ambito
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