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Share link:In this post: Ethereum whales have stopped accumulating ETH since July, analysts note. Interoperability issues across Layer 2 solutions like Polygon and Arbitrum could be frustrating users. Ethereum, with a $300 billion market cap, faces high expectations as per top industry executives.
Quick Take Global crypto investment products witnessed $726 million in net outflows last week amid rate cut uncertainty, according to CoinShares. This matches the largest recorded net outflows set in March, Head of Research James Butterfill noted.
Bitcoin starts trading above $55K early in the week, recovering from weekend losses. This is the final week of inflation data before the long-anticipated September Fed meeting. Trump and Kamala Harris’s Tuesday presidential debate will be the leading market catalyst.
Quick Take Polymarket users have bet $101,000 that Trump will say “crypto” at the second presidential debate on Sept. 10 in Philadelphia. The prediction sits low on the list of possible mentions, comparable to the 19% odds of Trump saying “alien” three or more times during the event.
- 16:52Swap Contracts Show Over 50% Probability of Fed Cutting Rates by 50 Basis Points This WeekBond traders once again believe that Federal Reserve policymakers are more likely to cut interest rates by 50 basis points than 25 basis points at this week's meeting. Swaps linked to the Fed's interest rate resolution show a more than 50 per cent chance that the Fed will cut rates by 50 basis points this week, compared with last week when traders almost completely ruled out the possibility. That sent two-year U.S. American yields back to their lowest level in two years and dragged the dollar index to its lowest level since January. Philip Marey, senior U.S. strategist at Rabobank, wrote that he expects the Fed to implement its standard 25 basis point rate cut. ‘Powell's lack of guidance could indicate that the FOMC has yet to reach consensus. More importantly, Tuesday's retail sales could still alter market expectations.’
- 16:50Bitwise Analyst: Expectations of Further Fed Rate Cuts Will Have a Positive Impact on BitcoinOn 16 September, André Dragosch, Head of European Research at Bitwise, said, ‘The relatively strong manufacturing report suggests that the market's reaction could be positive if the Fed cuts interest rates by 50 basis points, as this leading indicator has already shown even an acceleration in underlying economic momentum in September, signalling a possible entry into the early stages of the “just right scenario”, i.e. low inflation, stable growth, and stimulative monetary policy. In my view, markets will be driven more by expectations of a rate cut than the cut itself over the next few months. Expectations of further rate cuts are likely to intensify due to the weak US economy and impending recession, which we expect to have a net positive impact on Bitcoin and crypto assets.’
- 16:50A trader bought about $16,500,000 of Neiro in July and is currently floating more than a hundredfoldOn 16 September, Arkham monitored a trader who had floated over $1.8 million through Neiro, having purchased around $16,500 of Neiro within the first two days of its launch.
