Morning Minute: Crypto Stages Major Rally on Rate Hopes

GM!

Today’s top news:

• Crypto majors stage huge rally as rate hike odds cool; BTC +5% to $81.3k
• HYPE, ZEC, and LIT all hit new ATHs as alts soar
• BTC ETFs see $730M in net inflows, biggest since January
• AMC CEO calls out Robinhood tokenized stocks, Vlad replies and MEME soars
• PONS hits $500M on new daily high in revenue

$81.8k$80.7k$79.6k$78.5k

24h HighHigh$82,108

24h LowLow$78,446

VolVol$1.9B

Market projectionsOdds by Myriad

📈 Crypto Stages Major Rally on Rate Hopes and Weaker Dollar

Bitcoin reclaimed $80,000 and pushed past $81,100, the Dow added 453 points, and more than 119,000 traders got liquidated for more than $500M. The BTC ETFs took in $731M in net inflows, their biggest day since January.

And where Bitcion led, everything else followed. XRP led the majors at 7.8%, BNB and Solana each added roughly 5%, and Ethereum climbed 4.7% to $2,497. Zcash jumped 18% to $1,000 and a new ATH.

Down the risk curve, things were even crazier. PONS ran 56% and is up 3,001% over 30 days. Lighter added 16.8% (also new ATH), Ethena 13.6%, Arbitrum 12%, SPX6900 13.2%.

Twenty-four hours of gains erased a week of damage. Now we certainly aren’t out of the woods yet. Waller is one governor giving a conditional answer on data that hasn’t printed yet, and hike odds are still a coin flip at 50.4%. The August jobs report lands this morning, the last major release before the September 15-16 meeting, and its results will likely dictate if this rally continues the next few weeks.