Bitcoin Volatility Rises as PCE Inflation Data Approaches

2 min

Crypto Daybook Americas will not be published on Monday due to the Labor Day holiday. It will return on Tuesday.

Bitcoin BTC has decreased by nearly 3% to $109,800 in the last 24 hours, impacting the broader market including ETH. The current price movements are within established valuation ranges.

Key highlights:

BTC's volatility is rising from multiyear lows, with 30-day implied volatility surpassing the 100-day moving average for the first time since mid-June.
This increase may signal potential volatility in September, influencing both crypto and traditional markets.
U.S. core PCE data, expected later today, could influence Fed policy and risk sentiment; a lower than expected release may support investor confidence.
ETH ETFs have seen over $1 billion in net inflows this week, significantly outpacing BTC ETF inflows of $567 million.
The U.S. 10- and two-year Treasury yield spread has widened, which could support bullish positions in gold and bitcoin.

What to Watch:

Aug. 29: Stellar Development Foundation livestream on NEAR Intents.
Aug. 30: Conflux CFX hard fork upgrade.
Sept. 1: Starknet STRK mainnet upgrade.
Sept. 2: Tellor TRB mainnet upgrade.
Sept. 4: Polygon’s token migration from MATIC to POL.

Market Movements:

BTC is down 1.87% at $109,828.05.
ETH is down 2.66% at $4,013.41.
CoinDesk 20 index down 2.52% at 4,168.55.

ETF Flows:

BTC ETFs saw daily net flows of $178.9 million, cumulative net flows of $54.34 billion.
ETH ETFs had daily net flows of $39.1 million, cumulative net flows of $13.7 billion.

Technical Analysis: