Idle markets ahead of tomorrow’s CPI print, and Nasdaq bets on crypto
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📊 Top 10 cryptos flat - trading in -1% to +1% range
💎 Bitcoin slips 0.4% - Ethereum steady; AVAX jumps 3%
🏦 Nasdaq to invest $50M - in Gemini ahead of IPO
📉 Markets await US CPI data - with Fed cut bets mounting
Crypto markets are idling this morning, with most of the top 10 assets by market cap trading in a tight band between -1% and +1%, ahead of tomorrow’s US inflation numbers for August. Bitcoin is down 0.4%, while Ethereum is tracking closely. Avalanche (AVAX) is outperforming peers with overnight gains of more than 3%.
Stock markets are also moving sideways ahead of the CPI release, while ongoing tariff tensions cool sentiment.
In crypto news, Nasdaq is reportedly investing $50 million in Gemini, the Winklevoss-founded crypto exchange, as part of the exchange’s IPO on Friday. The deal will give Nasdaq’s clients access to Gemini’s custody and staking services, while Gemini’s institutional clients will get access to Nasdaq’s Calypso platform for managing and tracking trading collateral, according to Reuters. The line between TradFi and crypto continues to blur.
For now, all eyes are on tomorrow’s inflation print. Most investors are already convinced the US central bank will begin easing monetary policy on 17 September, the question is by how much.
In the markets…
🌍 Total crypto market cap ↗️
The global crypto market cap is approximately $3.92 trillion, up 1.6% over the past 24 hours.
🟠 Bitcoin (BTC) ↘️
Price: $112,455 down 0.45 % in the last 24 h.
Daily high: $113,138
Daily low: $110,822
📈 S&P 500 ↗️
SPY is currently up about 0.27% since yesterday’s close.
📈 Nasdaq 100 ↗️
The Nasdaq 100 is up about 0.33% overnight.
😐 Fear & Greed Index
The Crypto Fear & Greed Index stands at 44/100, in Neutral.
Data is correct as at 10 September, 08:06 GMT.
Cautionary Notes
It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
