by Coinstrooper Crypto Articles
Quick Take
  • By Omkar Godbole (All times ET unless indicated otherwise)
  • It's not been a happy 24 hours for crypto bulls, with the CoinDesk 20 Index dropping 5% and market leaders bitcoin (BTC) and ether (ETH) falling nearly 2%.
  • Still, a few coins, including MNT, CRO, KAS, OKB and XMR, managed gains of around 1%.
  • The downturn coincides with a stronger dollar, pushed higher by Thursday’s U.S.

What Happened

Analysts at Bitunix exchange warned that President Donald Trump's tariff announcements on Thursday have increased market uncertainty, with sentiment oscillating between “rising inflation” and “slowing growth.”

Trump announced tariffs of as much as 100% on trucks, furniture and pharmaceuticals, effective Oct. 1.

Market Context

It's not been a happy 24 hours for crypto bulls, with the CoinDesk 20 Index dropping 5% and market leaders bitcoin (BTC) and ether (ETH) falling nearly 2%.

Major altcoins such as XRP, BNB and SOL lost even more, and ASTR, the native token of Aster DEX, which recently flipped Hyperliquid in 24-hour volume, fell 4% as the decentralized exchange saw abnormal price movements in the XPL-USDT perpetual trading pair. Still, a few coins, including MNT, CRO, KAS, OKB and XMR, managed gains of around 1%.

The downturn coincides with a stronger dollar, pushed higher by Thursday’s U.S. GDP and jobless claims data. Meanwhile, market flow dynamics turned bearish.

The Fed’s preferred inflation gauge, the core personal consumption expenditure, is due later today. The report is projected to show a 2.9% year-over-year rise in August, matching July. Month-on-month, it’s forecast to have increased 0.2%, slightly below July’s 0.3%, according to FactSet. A softer-than-expected print could temper the dollar’s rally, putting a floor under bitcoin and the wider crypto market.

Traders should remain vigilant about regulatory developments related to digital asset treasuries. A WSJ report on Thursday cited U.S. regulators' concerns about unusual trading volumes and stock price volatility in over 200 companies linked to crypto treasury strategies. Regulatory pressure on these treasuries, or DATs, could accelerate market sell-offs.

Nothing scheduled. MacroSept. 26, 8:30 a.m.: Canada July GDP MoM Est. 0.1%. Sept. 26, 8:30 a.m.: U.S. August headline PCE Price Index YoY Est. 2.7%, MoM Est. 0.3%; core YoY Est. 2.9%, core MoM Est. 0.2%. Sept. 26, 10 a.m.: (Final) September Michigan Consumer Sentiment Est. 55.4. Sept. 26, 1 p.m.: Fed Vice Chair for Supervision Michelle Bowman speech on "Approach to Monetary Policy Decision-Making." Earnings (Estimates based on FactSet data)Nothing scheduled. Nothing scheduled. Sept. 26, 8:30 a.m.: Canada July GDP MoM Est. 0.1%. Sept. 26, 8:30 a.m.: U.S. August headline PCE Price Index YoY Est. 2.7%, MoM Est. 0.3%; core YoY Est. 2.9%, core MoM Est. 0.2%. Sept. 26, 10 a.m.: (Final) September Michigan Consumer Sentiment Est. 55.4. Sept. 26, 1 p.m.: Fed Vice Chair for Supervision Michelle Bowman speech on "Approach to Monetary Policy Decision-Making." Token Events

Sept. 26, 8:30 a.m.: Canada July GDP MoM Est. 0.1%. Sept. 26, 8:30 a.m.: U.S. August headline PCE Price Index YoY Est. 2.7%, MoM Est. 0.3%; core YoY Est. 2.9%, core MoM Est. 0.2%. Sept. 26, 10 a.m.: (Final) September Michigan Consumer Sentiment Est. 55.4. Sept. 26, 1 p.m.: Fed Vice Chair for Supervision Michelle Bowman speech on "Approach to Monetary Policy Decision-Making." Earnings (Estimates based on FactSet data)Nothing scheduled. Nothing scheduled. Sept. 26, 8:30 a.m.: Canada July GDP MoM Est. 0.1%. Sept. 26, 8:30 a.m.: U.S. August headline PCE Price Index YoY Est. 2.7%, MoM Est. 0.3%; core YoY Est. 2.9%, core MoM Est. 0.2%. Sept. 26, 10 a.m.: (Final) September Michigan Consumer Sentiment Est. 55.4. Sept. 26, 1 p.m.: Fed Vice Chair for Supervision Michelle Bowman speech on "Approach to Monetary Policy Decision-Making." Token Events

Sept. 26, 8:30 a.m.: U.S. August headline PCE Price Index YoY Est. 2.7%, MoM Est. 0.3%; core YoY Est. 2.9%, core MoM Est. 0.2%.

Nothing scheduled. Nothing scheduled. Sept. 26, 8:30 a.m.: Canada July GDP MoM Est. 0.1%. Sept. 26, 8:30 a.m.: U.S. August headline PCE Price Index YoY Est. 2.7%, MoM Est. 0.3%; core YoY Est. 2.9%, core MoM Est. 0.2%. Sept. 26, 10 a.m.: (Final) September Michigan Consumer Sentiment Est. 55.4. Sept. 26, 1 p.m.: Fed Vice Chair for Supervision Michelle Bowman speech on "Approach to Monetary Policy Decision-Making." Token Events

Why It Matters

By Omkar Godbole (All times ET unless indicated otherwise)

“ETF behavior changed from a primary absorber of supply to a net seller this week," analysts at BRN told CoinDesk. "Yesterday, Bitcoin ETFs posted $258 million of outflows while Ethereum ETFs recorded $251 million of outflows, marking four straight days of red for ETH funds.”

Details

Whales have also become net sellers, offloading 147,000 BTC since Aug. 21, the most since the bull cycle began in early 2023, according to CryptoQuant.

Additionally, geopolitical developments warrant attention, as reports are circulating about Russia's aerial incursions in Europe. WTI crude oil is already up 4% for the week, the most since June. Stay alert!

What to Watch

Crypto

Macro

Sept. 26, 10 a.m.: (Final) September Michigan Consumer Sentiment Est. 55.4.

Sept. 26, 1 p.m.: Fed Vice Chair for Supervision Michelle Bowman speech on "Approach to Monetary Policy Decision-Making."

Earnings (Estimates based on FactSet data)

Nothing scheduled.

Sept. 26, 8:30 a.m.: Canada July GDP MoM Est. 0.1%.

Token Events