FOMC

Solana

Bitcoin

Mode

Daily

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin [BTC] rebounded to $58k following slower August inflation data.</li>
 <li>Alameda/FTX unstaked over $23 million SOL as repayment for victims approaches.</li>
</ul>
The US CPI (Consumer Price Index) increased 0.2% last month, meeting analysts’ predictions.
The core CPI, however, was slightly higher at 0.3%, above the anticipated 0.2%.
This resulted in <a href="https://coineagle.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price falling to $55.5k.
<h2 id="investors-risk-off-mode">Investors’ Risk-Off Mode</h2>
Before the release of the CPI data, investors were in risk-off mode, leading to $750 million outflows from exchanges on 10 September.
However, the world’s largest digital asset recovered and was valued at $58k.
Joshua Kang, Head of Trading at Mozaik Capital, commented on the post-CPI movement and the market’s focus on the upcoming FOMC (Federal Open Market Committee) meeting.
Following the slower CPI, the market appeared to be pricing in an 85% likelihood of a 25-basis-point Fed interest rate cut at the next FOMC meeting.
QCP Capital, a crypto trading firm, reported increased demand for Bitcoin and a bullish outlook for Q4 post-CPI data.
<h2 id="alameda-ftx-unstakes-23-75m-sol">Alameda/FTX Unstakes $23.75M SOL</h2>
A wallet linked to Alameda/FTX redeemed 177,693 SOL from Solana PoS staking, with $951 million SOL still staked.
This occurred as FTX’s repayment for victims neared.
Despite FTX reportedly selling most of its SOL through OTC (over-the-counter) markets, market analyst EmberCN suggested that the unstaked SOL could soon hit central exchanges.
If this happens, it could exert downward pressure on SOL.
At press time, the altcoin was trading at $134, slightly above its yearly support of $128.
Swift announced support for regulated digital and real-world tokenized asset transfers as part of its “global interoperability strategy.”
This follows a series of blockchain payment experiments last year involving Chainlink, Ethereum, and several banks, including BNY Mellon.
The move will enable buyers to settle and exchange tokenized assets in real time through the Swift network.

Crypto Daily Rundown: Bitcoin, Solana, and Others Make Headlines!

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CoinEagle.com

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