Markets rally ahead of tomorrow’s key US inflation report
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🟠 Bitcoin breakout attempt – BTC up 2.5% overnight, trading above $120,000.
💎 Altcoin strength – Ethereum above $4,200; Lido DAO and Layer Zero rally.
📊 Market sentiment shift – Fear and Greed Index back in Greed territory.
📅 Key macro trigger – US inflation data tomorrow could set the week’s tone.
Crypto markets are off to a good start to the week, with Bitcoin (BTC) up 2.5% overnight and trading above $120,000 after struggling to break through this level for weeks. Ethereum (ETH) is gaining momentum above $4,200, while others like Lido DAO (LDO) and Layer Zero (ZRO) have also surged overnight. The momentum has pushed the Fear and Greed Index firmly back into Greed territory.
It’s unclear what exactly jolted markets this morning. Some point to strong tech stock earnings last week, but attention now turns to the US inflation report due tomorrow. Analysts say the latest CPI reading could set the tone for the week, with the Federal Reserve watching to see how the economy is responding to Trump’s tariff wars, and whether a September rate cut is still on the table, as investor expectations suggest. Will Bitcoin break above the benchmark of roughly $123,218 this week? Will altcoins keep outperforming the market-cap leaders? It’s an interesting development to watch.
In the markets…
🌍 Total crypto market cap ↗️
The global crypto market cap is approximately $4.03 trillion, up 2.% over the past 24 hours.
🟠 Bitcoin (BTC) ↗️
Price: $121,590 up 3.02% in the last 24 h
Daily high: $122,227
Daily low: $117,983
📈 S&P 500 ↗️
SPY is currently down about 0.78% since yesterday’s close.
🥳 Fear & Greed Index
The Crypto Fear & Greed Index stands at 62/100, in Greed.
📊 Bitcoin Relative Strength Index (RSI) (14)
The 14-day RSI for BTC is approximately 70, in neutral territory.
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.
