August shook things up and September could be even more eventful. Here's what happened and what to watch for next.
📈 Inflows and liquidations
In August, institutional investors poured record yearly inflows into crypto funds: +$3.3B in BTC and +$1.5B in ETH. Interest in BTC and ETH remains high.
At the same time, the market saw its largest liquidations in months: $9.71B over the last two weeks of August, including $6.55B in shorts and $3.16B in longs.
🔼 Will rates rise in September?
On August 28, Fed Chair Kevin Warsh signaled a potential rate hike in September. BTC dropped from $81,000 to $77,000 the same day.
When rates rise, money can flow into more conservative assets like gold or bonds. Crypto and equities may come under pressure as a result.
✍️ CLARITY Act vote
On September 15, the U.S. Senate may vote on a key piece of legislation — the CLARITY Act. If the vote succeeds, the market could read it as a positive signal. We covered it in detail in our previous post.
September is historically one of crypto's weaker months, but this time the rules might change. What do you think: up or down? 👇
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