Total crypto market capitalization is hovering around the $4 trillion mark today, up nearly 1%, with investors digesting part of this week\u2019s U.S. inflation data, which could indicate the Fed\u2019s next move.<\/p>\n
Bitcoin (BTC<\/a>) is trading at about $114,200, up 1.2% over the past 24 hours and almost 3% on the week. Meanwhile, Ethereum (ETH<\/a>) is trading at $4,430, up just under 2% on the daily and weekly timeframes.<\/p>\n Among the top-10 crypto assets, Solana (SOL<\/a>) continues to lead gains, up 3.3% today and more than 7.6% over the past week, trading at almost $224.<\/p>\n XRP<\/a> is holding steady over $3 and remains up a solid 6% on the week. BNB<\/a> is also a top performer among large caps, gaining 3% in the past 24 hours to break over $900. <\/p>\n Dogecoin (DOGE<\/a>) is the only top-10 asset in the red today, down a modest 1% after a strong rally on news of an upcoming exchange-traded fund (ETF) for the asset. DOGE is up 13% on the week.<\/p>\n Spot crypto ETFs showed a slight change in dynamics yesterday, as spot Ethereum ETFs posted $44.16 million in net inflows, their first positive day since Aug. 28. Bitcoin ETFs logged $23.05 million in inflows, down from $368.25 million the prior day, according to SoSoValue<\/a>.<\/p>\n Over the past 24 hours, about $300 million in leveraged positions were liquidated, $108 million of which were on Binance, Coinglass<\/a> data shows. Bitcoin led with over $65 million in liquidations, followed by Ethereum at $47 million.<\/p>\n Analysts at Coinbase anticipate a \u201cstronger crypto market\u201d in early Q4 due to \u201cresilient liquidity, a favorable macro backdrop, and supportive regulatory dynamics, with bitcoin poised for outperformance.\u201d The analysts said in a market overview<\/a> today, Sept. 10:<\/p>\n \n\u201cIn our view, bitcoin in particular can continue to outperform market expectations as it benefits directly from existing macro tailwinds.\u201d<\/p><\/blockquote>\n<\/figure>\n They noted that technical demand from digital asset treasury (DAT) companies is expected to provide \u201congoing support\u201d for crypto markets even as the industry enters a \u201ccompetitive \u2018player-versus-player\u2019 phase.\u201d<\/p>\n Meanwhile, new producer price index (PPI) data came out today and showed prices were down in August, given lower service costs. Headline PPI unexpectedly slipped 0.1% from July, but economists had forecast it would rise 0.3%, per Reuters<\/a>. Overall, PPI was up 2.6% from a year ago, down from July\u2019s 3.1% increase.<\/p>\nLiquidations and Macro<\/h2>\n
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