Macro Overview
- US CPI m/m – higher (0.4% vs 0.3% expected) → negative, but market jumped, showing uncertainty
- US PPI m/m – lower (-0.1% vs 0.3% expected) → positive
- US Unemployment Claims – higher than expected → bullish
Key Note: Overall, last week’s data remained mixed, implying a neutral impact on the crypto market. Upcoming Fed Funds Rate will be key to watch.
Crypto Markets Overview
- Market Movement: This week, the crypto market experienced a 3.95% rise, bringing the total market capitalization to $3.94 trillion. Notably, BTC saw a rise of 3.16% and ETH saw a rise of 5.90%. Bitcoin’s dominance stands at 58.08%, while Ethereum’s holds at 13.85%.
- London Stock Exchange Launches Blockchain Platform for Private Funds: London Stock Exchange Group (LSEG) has launched its Digital Markets Infrastructure (DMI), a blockchain-based platform for private funds. Developed with Microsoft and hosted on Azure, the platform supports issuance, tokenization, and post-trade settlement while connecting with traditional financial systems. Private funds are the first asset class to go live, with more to follow.
- Vietnam Launches Five-Year Crypto Trading Pilot: Vietnam has approved a five-year pilot program for crypto asset trading, requiring all issuances, trading, and payments to be conducted in Vietnamese dong. Only domestic companies may provide platforms, signaling a major shift toward regulated crypto activity in a country where 17 million people already hold over $100 billion in digital assets.
- Strategy Adds 525 BTC, Total Holdings Near 639K BTC: Strategy acquired 525 BTC for roughly $60 million at an average price of $114,562, bringing its total holdings to 638,985 BTC — over 3% of Bitcoin’s total supply. The purchase was funded through perpetual preferred stock sales, with the company now sitting on around $26 billion in paper gains.
- Solana TVL Hits Record $13B Amid Surge in Network Activity: Solana’s DeFi TVL has reached an all-time high of $13B, fueled by rising user demand and strong inflows. SOL price jumped nearly 25% last week as daily active addresses rose 37% and transactions climbed 17%, signaling robust network growth and renewed bullish momentum.
- Polkadot DAO Approves 2.1B DOT Supply Cap: Polkadot DAO has voted to cap DOT supply at 2.1B, replacing the unlimited issuance model and reducing annual emissions. The new framework introduces a two-year inflation schedule, signaling increased scarcity and long-term sustainability for the network.
- Polymarket Integrates Chainlink Oracles for Market Resolution: Polymarket has partnered with Chainlink to use its oracles for verifiable price data and automated market settlements. The integration, live on Polygon, leverages Chainlink Data Streams and Automation to deliver faster, tamper-resistant outcomes for price-based markets, with plans to expand to subjective questions.
“Big Picture: Upcoming Weeks’ Key Economic Events”
| DATE | TIME | EVENT | USUAL EFFECT |
| Sep-17 | 11:30 PM | US Federal Funds Rate | Actual’ less than ‘Forecast’ is good for crypto |
| Sep-18 | 12:00 AM | US FOMC Press Conference | More dovish than expected is good for crypto |
| Sep-18 | 6:00 PM | US Unemployment Claims | Actual’ greater than ‘Forecast’ is good for crypto |
Bitcoin Technical Analysis
Summary:
- The current sentiment around BTC is Neutral.
- As mentioned in our last weekly report, BTC broke out post-CPI as expected. Now, price action looks choppy until the Fed funds rate decision on the 17th. A small pullback is likely before a bigger move, which will depend on the Fed’s stance.
Key support levels to consider are around $112,000 and $107,000. On the upside, resistance level is at $117,000 & $123,000. - It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
- For profit-taking, strategically selling near the outlined resistance levels/support levels is a recommended approach. Always exercise caution and implement sound risk management practices in trading endeavours.
Ethereum Technical Analysis
Summary:
- The current sentiment around ETH appears Neutral.
- As mentioned in our last weekly report, ETH continued to rise while staying above the 20 EMA (D), confirming our view. Price action remains choppy, with $4763 as the key level to watch. As long as ETH holds above the 20 EMA, the HTF bias stays bullish.
- Significant support levels include $4075 and $3392, while resistance level to watch is at around $4763.
- These levels play a crucial role in determining potential price movements. It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
Solana Technical Analysis
Summary:
- The current sentiment around SOL is Neutral.
- As highlighted in our last weekly report, SOL outperformed BTC and ETH and broke above the key level. For the coming days, price action may turn choppy with a possible pullback toward $220 ahead of FOMC. Overall, short-term PA is expected to remain sideways.
- Key support levels to consider are around $219 (20 EMAD) and $205. On the upside, resistance level is at $244 and $260.
- It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
- For profit-taking, strategically selling near the outlined resistance levels/support levels is a recommended approach. Always exercise caution and implement sound risk management practices in trading endeavours.
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