TechFlow news, on August 14, QCP Capital's latest report indicated that BTC rebounded back to $60,000 last night and stabilized at this level, fully reversing Monday's sell-off. Despite Bitgo transferring $2 billion worth of Mt. Gox BTC last night, BTC still posted slight gains, indicating the market is beginning to ignore this supply factor. ETH spot ETFs attracted inflows for two consecutive days, with net inflows reaching $24.3 million on Tuesday.
Weak U.S. Producer Price Index (PPI) data has increased market expectations for a 50-basis-point rate cut by the Fed in September, now priced at 52.5%. Tonight’s U.S. Consumer Price Index (CPI) data will be closely watched; if weak, it could support a rebound in risk assets such as equities and cryptocurrencies.
Regarding trading outlook, although the crypto market is supported by ETF inflows and BlackRock’s buying-the-dip move last week, due to a lack of major catalysts, no significant breakthroughs are expected before the fourth quarter.
