Cryptocurrency Market ‍Sees Slight Uptick Ahead of New York Stock Exchange Opening

The‍ cryptocurrency​ market advanced slightly ahead⁣ of the opening of the New York Stock Exchange on ⁢the 12th, ⁢continuing the positive trend in the Asian⁢ and European time‌ zones. Bitcoin is​ consolidating above $58,000.

The New York Stock Exchange‍ showed volatility the day before after the announcement of the US Consumer ⁤Price Index (CPI) for August, but it‌ closed higher, which is also having ⁢a positive effect on the cryptocurrency market sentiment. The New York Stock Exchange stock index futures‍ are also ⁤showing a gentle upward trend today. ​The Federal Reserve’s (Fed) interest rate cut next week is certain, and some analysts predict that the Fed will now focus on employment and ⁢growth rather than inflation.

There was also news⁤ that leverage in the Bitcoin market was increasing again and that some exchanges, such as Coinbase and Kraken, were actively buying ‌at low prices. However, Bitcoin ⁢and Ethereum spot‍ ETFs turned to net outflows again the previous day, indicating that the market ⁣atmosphere has not ‌yet ⁢fully recovered. However, the amount of ⁣funds that were withdrawn⁤ was not large.

Continued uncertainty surrounding the U.S. presidential election, the possibility of further appreciation of the yen and the potential further unwinding ​of yen carry ​trades as a result, and geopolitical tensions are ⁢still cited as ⁢factors weighing​ on market sentiment.

The market is awaiting the U.S. producer price⁣ index (PPI) for August‍ and the number of initial jobless claims last week, which will⁣ be⁢ released later​ this month.

Cryptocurrency Market Data

As of‌ 8:15 a.m. on ⁣the​ 12th, New York time, the cryptocurrency market capitalization on CoinMarketCap ⁢was $2.4 trillion, up 2.15% from 24 hours ago. It increased by $20 billion compared to the previous day’s New York Stock Exchange closing. The ‌24-hour trading volume of the cryptocurrency market was $69 billion, up 9.78%. Bitcoin dominance was 56.3%, ‌and Ethereum⁣ dominance was 13.9%. The fear and greed index of the cryptocurrency market is still in a state of fear at ⁤37.

Bitcoin and Ethereum Prices

At this time, Bitcoin is up 2.24% from 24 hours ago at $58,074 on CoinMarketCap. The Asian time zone high was recorded ​at $58,454.16. Bitcoin is in ⁢a correction after hitting⁢ an​ all-time high of $73,750.07 on March 14.⁢ Ethereum is up 0.75% at $2,347. Ethereum’s all-time high was $4,891.70 on November 16, 2021.

Altcoin Prices

Other altcoins that⁣ made‌ it to the top 10‌ by market cap have also all risen over the past 24 hours. BNB is up ‌5.67%, Solana is up 2.30%, XRP is up 0.66%,⁢ Dogecoin is up 1.44%, TON is up 3.37%, and Tron is up 1.05%.

Futures Market

Bitcoin⁤ futures for September ‌delivery on the Chicago Mercantile Exchange (CME) rose 0.59% ⁣to $58,200, October futures rose 0.81% ⁣to $58,760, and ​November futures rose 0.68%‌ to ⁤$59,140. Ethereum futures for September⁣ delivery⁢ advanced 0.17% to $2,355.50, and ⁣October futures advanced 0.53% to $2,378.50.

Global Market Data

The dollar index is trading at 101.76, according to Wall Street Journal data. The ⁤yield‍ on ⁤the 10-year Treasury note rose 1.3 basis points to 3.671%.