Crypto Market Analysis | 12 September 2024 

Crypto Market Analysis

US stock indexes rebounded strongly, closing near weekly highs despite a sharp drop following yesterday’s positive inflation data. This recovery has led to growing speculation that the indexes may be heading toward all-time highs.

Crypto insights: Bitcoin (BTC) has reclaimed the $58K level and is holding steady after dipping below $56K briefly yesterday. Positive net inflows into ETFs for the third consecutive day highlight increasing institutional demand. In the altcoin space, SUI is among the top gainers following Grayscale’s launch of the SUI Trust.

Sentiment check: The Fear & Greed Index is at 31, signaling fear and uncertainty as the market remains cautious about its next move.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered investment/financial advice from CoinSwitch. Any action taken upon the information shall be at the user’s risk.

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