Crypto Markets Stable Amid Anticipation of Key U.S. Economic Data
The crypto market has stabilized after a $1.5 billion liquidation, with Bitcoin holding the $110,000 support and Ether recovering to $4,075. Total market capitalization is now at $3.85 trillion, down 1.3% from the previous week.
- Bitcoin's price range: $108,000–$118,000, showing consolidation and reduced volatility.
- Upcoming U.S. economic data, including Powell's speech and September Jobs Report, are crucial for market direction.
- Weak labor data could prompt rate cuts, benefiting major cryptos like BTC, ETH, and XRP; strong data may sustain uncertainty.
- Ethereum's potential bottom is noted, with interest in its first U.S. ETF featuring staking capabilities.
- Solana's total value locked surged by 57% since June, with positive outlooks for altcoins.
- Meme coins have seen a 70% increase in sector capitalization over three months.
- Regulatory concerns persist, with investigations into potential insider trading and warnings on stablecoin expansion risks.