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Source: Newsmaker.id
The cryptocurrency market faced downward pressure during the European session on Friday (Sept. 11) as investors reduced their exposure to risk assets ahead of the US Consumer Price Index (CPI) release. Bitcoin traded around US$77,069—down approximately 2.6%—struggling to break back above the psychological US$80,000 level.
Pressure was also evident across most major altcoins. Ethereum traded around US$2,445 (down 1.8%), XRP fell about 4.3% to US$1.36, and Solana dropped roughly 4.3% to the US$99.3 range. BNB hovered around US$709, down about 4.9%, while Dogecoin saw one of the steepest declines, dropping approximately 6.1% to US$0.0835.
Negative sentiment stemmed primarily from growing expectations of a Federal Reserve interest rate hike. Markets are pricing in a 67%–70% probability of a 25-basis-point increase next week, following Producer Price Index (PPI) data that indicated persistent inflationary pressure at the producer level. Meanwhile, the 10-year US Treasury yield remained near 5%—hovering around 4.95%—making risk assets like tech stocks and cryptocurrencies less attractive compared to bonds.
Energy prices also exacerbated the pressure. Brent crude remained in the US$105–US$106 per barrel range—despite pulling back from nearly US$110—after US-Iran tensions and shipping disruptions in the Middle East stoked inflation fears. High oil prices could prompt central banks to maintain tight monetary policies for longer, a scenario that is fundamentally unfavorable for Bitcoin and altcoins.
Market focus is now squarely on the US CPI data. If core inflation comes in hotter than expected, the likelihood of a Fed rate hike could rise, pushing yields and the dollar higher and potentially subjecting Bitcoin to renewed pressure. Conversely, a softer CPI reading could lower yields and pave the way for a rebound in BTC, Ethereum, and major altcoins.
Newsmaker Analysis: The crypto market enters the European session with a defensive bias. Bitcoin is holding steady around US$77,000, but altcoins are facing greater pressure due to their sensitivity to shifts in liquidity and interest rates. As long as Treasury yields remain near 5% and expectations for Federal Reserve rate hikes stay high, any crypto recovery is likely to be limited. Tonight's US CPI data could serve as a key catalyst, determining whether Bitcoin retests the US$80,000 level or faces continued downward pressure. (arl)
Source: Newsmaker.id