Good morning, Asia. Here’s what makes news in the markets:
Welcome to Asia Morning Briefing, a daily overview of top stories during the US HOURS and an overview of market movements and analysis. For a detailed overview of US markets, see Coindesk’s Crypto Doybook Americas.
When Hong Kong begins his trading day, ETH changes hands over $ 4600, down 3% a day.
Since ETH has risen almost 16% in the last week and 45% in the last month, this is probably not a problem for most dealers. After all, the ETH/BTC ratio is broken over its 365-day sliding average, a signal that has historically marked longer periods of one-beds than ETF streams, amplifies the move.
However, the same data shows early warning signs of cooling in the short term, as Cryptoquant argued in a recent report.
Daily ETH flows for exchanges have surpassed Bitcoin’s, which suggests some holders are placed to make profits. ETH’s MVRV ratio against BTC has risen from 0.4 in May to 0.8 and is approaching historically overestimation area. Cryptoquant warns that such levels in previous cycles have gone ahead of breaks or withdrawals in ETH’s relative strength.
Commercial tables repeat this view.
In a recent note, France-based FlowDesk reports that although there were $ 1 billion in one-day ETH ETF flow Monday, with broad client purchases versus BTC and SOL, there was also increased call overwriting in ETH options at $ 7K-$ 8K strikes for December-one sign, as some are expected.
QCP framed eth’s rally within a macro background with softer heading CPI in its Daily Asia Color Telegram update, with strong expectations of a September bold -cut and geopolitical easing, but marks upcoming Jackson Hole notes and remaining CPI/NFP prints as potential feelings.
Market manufacturer Enflux added in comments to Coindesk that a warmer than expected PPI printing reminded of traders that inflation risks remain uneven and that ETH’s great benefit could invite consolidation.
While the structural drivers remain intact, ETF demand, institutional participation and favorable on-chain signals, the market is into a phase where stretched positioning and macro-event risk could test ETHS Momentum. As Cryptoquant’s data shows, rally is strong, but so are the early signs of profit.
Market Movers
BTC: Bitcoin fell over 3% from record highs after the warmer US inflation attenuated speed -cut hope, and the Treasury signaled that it will not expand Bitcoin purchases for its strategic reserve.
ETH: ETH is down by 3.3%as the sales pressure increases as dealers make profits after a record mounting.
Gold: Gold dropped 0.62% to $ 3,336.6 as the warmer US inflation and strong job data increased the dollar and yield, trimming expectations at a big September -born rate.
Nikkei 225: Nikkei 225 opened higher as Japan’s economy grew an annual 1.0% in 2nd quarter, knocking forecasts on strong exports and capital costs, although analysts warn US tariffs could slow down growth in the coming months.
S&P 500: US stocks stopped Thursday as a warmer than expected PPI dampened hope for a large September frequency. Goldman Sachs warns its models showing elevated odds of an S&P 500 drop, citing low volatility and growing customs risks.
Elsewhere in crypto:
- US Blacklists Krypto Network Behind Ruble -Supported StableCOin and Closed Exchange Garantex (Coindesk)
- Strategy pushed ‘misleading’ comparison with Apple and Nvidia, says Wall Street Veteran (Decryptter)
- Crypto Casino CEO charged after allegedly having playing investors’ million million million of (Decryptter)
