markets
PCE came in at 3.7% and bitcoin dipped under $78k before buyers returned
Headline PCE came in a tenth hot at 3.7%, stocks and gold fell, and bitcoin dropped under $78,000 before recovering to $79,027. Jackson Hole opens today on a payments theme.
Bitcoin closed above $80,000 for the first time since May
Bitcoin closed 25 August at $80,547 after touching the low $81,000s, with shorts accounting for 71.9% of the day’s liquidations. A Treasury buyback and a stalled bill did most of the work.
$1.61bn into bitcoin ETFs in a week: how to read an inflow-driven rally
Bitcoin at $77,463, ether at $2,455, XRP up 49% on the week and $1.61bn of weekly ETF inflows. Flow-led rallies have a specific shape — and a specific way of ending.
$109.66m liquidated over the weekend, and 80% of it was longs
A 1.7% dip cleared $109.66m of positions over the weekend of 23 August, four fifths of them longs, and open interest fell $2.4bn. The lesson is about weekend liquidity, not direction.
Zcash at $796 and a fifth Grayscale filing: privacy is bid again
ZEC printed $796 on 22 August, a 33% day on $5.6bn of volume, and Grayscale filed its fifth amendment for a spot Zcash ETF. Privacy assets are being repriced — and they are the hardest thing to route.