Crypto Comeback: Market Extends Winning Streak to Three Days
- According to BlockBeats, QCP Capital's daily report on September 21 revealed that cryptocurrencies experienced their third consecutive day of gains.
- This upward movement was fueled by strong inflows into BTC and ETH spot ETFs.
- As the market awaits the upcoming PCE price report on Friday, the enthusiasm for rate cuts is gradually waning.
Cryptocurrency Market Sees Third Consecutive Day of Gains
According to BlockBeats, QCP Capital’s daily report on September 21 revealed that cryptocurrencies experienced their third consecutive day of gains. Bitcoin (BTC) briefly touched the $64,000 mark, while Ethereum (ETH) rebounded to $2,500.
This upward movement was fueled by strong inflows into BTC and ETH spot ETFs. Over the past two days, BTC ETFs recorded net inflows of $250.3 million, while ETH ETFs saw net inflows of $8.1 million, indicating a surge in investor interest.
As the market awaits the upcoming PCE price report on Friday, the enthusiasm for rate cuts is gradually waning. As of this morning, BTC has fallen below $63,000, signaling a potential correction in the market.
In the options market, front-end BTC volatility has decreased by 6 points from yesterday’s peak. As the market adjusts to the path of policy normalization, volatility continues to decline, suggesting a more stable market outlook.