Bitcoin is rising modestly while major altcoins are posting notable gains, with Ethereum climbing nearly 3%. Crypto prices remain at critical levels where buyers are concentrated, leaving markets poised to benefit from any meaningful positive fundamental signal. Early gains are fragile and could reverse if negative shocks re-emerge, as seen after last week's Producer Price Index figures. Attention is focused on Jerome Powell's Jackson Hole speech and on signals of wider cryptocurrency adoption, including attendance by prominent industry figures such as Eric Trump. A hawkish monetary stance or weak fundamentals amid low liquidity could push Bitcoin toward $110,000. Recent data show tariffs and stronger activity raising inflation concerns that have weighed on equities and cryptocurrencies.
Bitcoin is rising by around 0.6% but remains below the $114,000 level, while major altcoins are posting notable gains, with Ethereum climbing by nearly 3%. These gains come as crypto prices remain at critical levels where buyers are still concentrated, leaving the market poised to benefit from any meaningful positive signal on the fundamental side that could revive the upward trend once again.
The market also remains wary of the upside risks to inflation, which have begun to surface in recent data. According to the preliminary August PMI report from S&P Global, tariffs were a major factor driving costs higher this month at the fastest pace since May, and the second-fastest since January 2023. This came alongside stronger-than-expected growth in both manufacturing and services activity, as well as the highest business sentiment in two months. However, inflation concerns appeared to outweigh the report's positive elements, contributing to the continued declines in both equities and cryptocurrencies yesterday.
Collection
[
|
...
]