Overview
- Traders price a roughly 90% chance of a 25 bp Fed cut, with Bitcoin pulling back to the low $90,000s after an intraday high near $94,640 and Powell’s remarks set to steer the next move.
- Ethereum climbed to roughly $3,380–$3,400 with more than $120 million in short positions liquidated, outpacing Bitcoin on the day as the ETH/BTC ratio strengthened.
- CoinShares reported $716 million of weekly inflows into crypto investment products, including $357 million to Bitcoin and $245 million to XRP, marking a second straight week of renewed demand.
- On-chain data show centralized exchange BTC balances near record lows around 2.76 million coins and reduced large-holder deposits, signaling accumulation despite thin market depth.
- Fresh institutional signals included PNC’s launch of direct spot Bitcoin trading for clients and BlackRock’s filing for an Ethereum staking ETF, while options and short liquidations amplified the latest price spike.