📈 Will Today Be As Bullish As Yesterday?
👉 Crypto Spot ETF Altseason Commencing?
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📰 Will Today Be As Bullish As Yesterday?
💎 Crypto Spot ETF Altseason Commencing?
💥 Best Alpha Posts of the Day
🐸 MEMEoirs of a Degen!
📢 Biggest Announcements
💭 Banter’s Take
GM Degens,
Yesterday, we got news which the market liked, but can we expect similar news today as more macro data comes out?
Also, interestingly, it seems like we're seeing a shift towards some kind of crypto spot ETF altseason.
Let’s dive in!
🌍 Market Catch-Up
Top 100 coins Daily Performance - Banter Bubbles
Source: CoinMarketCap
📰 Question of the Day
Will Today Be As Bullish As Yesterday?
Today we have headline CPI data coming out, which is forecast at 2.9%. Truflation is actually forecasting it at just above 3%. This follows yesterday when we got PPI data coming in below expectations, which the market liked. Here's what that data looked like:
Producer Prices Rise 0.2% M/M; EST. +0.3%
Producer Prices Rise 3.3% Y/Y; EST. +3.4%
Core PPI Unchanged M/M; EST. +0.3%
Core PPI Rises 3.5% Y/Y; EST. +3.8%
Now, as it stands, there is only one rate cut being priced in for 2025. This could possibly change going forward with the new US presidency, as President-elect Donald Trump has promised to push rates down, having said that both inflation and rates are high. We previously discussed that bringing these two down simultaneously would be difficult, but when you bring into the equation that the Department Of Government Efficiency (DOGE) might be bringing down government costs, it does become more plausible.
Now, over to the crypto spot ETFs, where something interesting has happened; Bitcoin is seeing outflows whereas Ethereum is seeing inflows:
BTC spot ETFs saw $209.8M in net outflows.
ETH spot ETFs saw $1.2M in net inflows.
There are also rumors going around about ETH staking coming to the ETFs. It's almost as if there is an ETF altseason rotation, and we will talk about that a bit further down, as there is a more important point to this.
Lastly, in macro, we got news that China is injecting lots of capital into its economy. The liquidity injection comes to the tune of $131 Billion, which is the 2nd largest since 2004.
💎 Degens’ Den
Crypto Spot ETF Altseason Commencing?
JP Morgan has predicted that somewhere between $3 - $8 billion will flow into XRP (XRP) and Solana (SOL) spot ETFs if and when they get a US spot ETF approval.
This is what I meant further up, it’s like there is a rotation into altseason for the ETFs—or at least the sentiment is heading that way. XRP has been one of the top performers in the last seven days but, currently sitting at a $162 billion market cap, there are some accounts on X questioning how much further it could rise from here, as Ethereum sits only 2.4 times higher than XRP on the same metric.
Speaking of Solana, Eric Trump, one of Donald Trump's sons, has revealed his crypto holdings, and SOL is one of them. The full list is:
Bitcoin (BTC)
Ethereum (ETH)
Solana (SOL)
Sui (SUI)
Over to the Sony Group blockchain which we mentioned yesterday, and it seems like the group tried to block new tokens being created on their network, which unfortunately wasn't possible as users were able to bypass the sequencer entirely and force their transactions through to the L1.
Overall, the altcoin market seems to be testing an important level as it touches the Gaussian channels, as ‘Stockmoney Lizards’ show in their chart below. These channels measure volatility, and the more contracted they are, the more likely it is that there's going to be an explosion to either the upside or the downside. Talking about the recent dump altcoins had, Stockmoney Lizards posts “Price always reverts to the mean after excessive pumps. This is completely normal.”
💥 Best Alpha Posts of the Day
Do You Promise?
Altcoin Daily has posted a nice video of all the promises that Donald Trump has made regarding crypto.
Bitcoin Dominance Decision Time!
According to this chart by analyst Matthew Hyland, Bitcoin Dominance (BTC.D) has been trading in the following wedge, and a breakout to either side is imminent.
🐸 MEMEoirs of a Degen!
📢 Biggest Announcements
Thailand Considers Allowing Bitcoin Spot ETFs
Chainlink Teams Up with BTguru to Drive Institutional Adoption of Tokenized Securities in Turkey
Political Strategist Samuel Armes Declares Florida Bitcoin Reserve Deal is Sealed
Arweave Sponsors ETHDenver 2025 as Leading On-Chain Data Storage Network
💭 Banter’s Take
The inflation data which comes out today will likely cause a lot of volatility, whether it is below, above, or exactly at expectations.
Stay safe.
See you all tomorrow!