• bitcoinBitcoin (BTC) $ 67,207.00
  • ethereumEthereum (ETH) $ 3,238.56
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 592.50
  • solanaSolana (SOL) $ 152.71
  • usd-coinUSDC (USDC) $ 0.999149
  • staked-etherLido Staked Ether (STETH) $ 3,227.75
  • xrpXRP (XRP) $ 0.543540
  • dogecoinDogecoin (DOGE) $ 0.172319
  • the-open-networkToncoin (TON) $ 6.51
  • cardanoCardano (ADA) $ 0.493545
  • avalanche-2Avalanche (AVAX) $ 38.97
  • shiba-inuShiba Inu (SHIB) $ 0.000024
  • bitcoin-cashBitcoin Cash (BCH) $ 532.97
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 67,318.00
  • tronTRON (TRX) $ 0.114434
  • polkadotPolkadot (DOT) $ 7.11
  • chainlinkChainlink (LINK) $ 14.92
  • matic-networkPolygon (MATIC) $ 0.757688
  • litecoinLitecoin (LTC) $ 85.68
  • internet-computerInternet Computer (ICP) $ 13.81
  • nearNEAR Protocol (NEAR) $ 5.76
  • uniswapUniswap (UNI) $ 7.95
  • leo-tokenLEO Token (LEO) $ 5.76
  • daiDai (DAI) $ 1.00
  • ethereum-classicEthereum Classic (ETC) $ 29.12
  • first-digital-usdFirst Digital USD (FDUSD) $ 1.00
  • aptosAptos (APT) $ 9.83
  • blockstackStacks (STX) $ 2.67
  • mantleMantle (MNT) $ 1.15
  • crypto-com-chainCronos (CRO) $ 0.137507
  • cosmosCosmos Hub (ATOM) $ 9.29
  • bittensorBittensor (TAO) $ 541.67
  • filecoinFilecoin (FIL) $ 6.44
  • stellarStellar (XLM) $ 0.114777
  • okbOKB (OKB) $ 53.65
  • immutable-xImmutable (IMX) $ 2.18
  • vechainVeChain (VET) $ 0.042504
  • render-tokenRender (RNDR) $ 8.08
  • hedera-hashgraphHedera (HBAR) $ 0.085784
  • arbitrumArbitrum (ARB) $ 1.12
  • kaspaKaspa (KAS) $ 0.123736
  • makerMaker (MKR) $ 2,935.86
  • dogwifcoindogwifhat (WIF) $ 2.68
  • the-graphThe Graph (GRT) $ 0.263748
  • pepePepe (PEPE) $ 0.000006
  • theta-tokenTheta Network (THETA) $ 2.44
  • optimismOptimism (OP) $ 2.42
  • ethena-usdeEthena USDe (USDE) $ 0.999190
  • injective-protocolInjective (INJ) $ 26.54
  • wrapped-eethWrapped eETH (WEETH) $ 3,347.52
  • fetch-aiFetch.ai (FET) $ 2.16
  • moneroMonero (XMR) $ 118.33
  • fantomFantom (FTM) $ 0.759628
  • thorchainTHORChain (RUNE) $ 5.92
  • lido-daoLido DAO (LDO) $ 2.12
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,574.98
  • ethenaEthena (ENA) $ 1.25
  • galaGALA (GALA) $ 0.047485
  • bitget-tokenBitget Token (BGB) $ 1.25
  • mantle-staked-etherMantle Staked Ether (METH) $ 3,281.43
  • celestiaCelestia (TIA) $ 8.98
  • arweaveArweave (AR) $ 24.24
  • suiSui (SUI) $ 1.23
  • algorandAlgorand (ALGO) $ 0.191712
  • flokiFLOKI (FLOKI) $ 0.000159
  • bitcoin-svBitcoin SV (BSV) $ 78.38
  • flowFlow (FLOW) $ 1.02
  • quant-networkQuant (QNT) $ 103.94
  • sei-networkSei (SEI) $ 0.559710
  • aaveAave (AAVE) $ 99.56
  • neoNEO (NEO) $ 20.17
  • beam-2Beam (BEAM) $ 0.026940
  • jupiter-exchange-solanaJupiter (JUP) $ 1.04
  • coredaoorgCore (CORE) $ 1.60
  • bittorrentBitTorrent (BTT) $ 0.000001
  • ribbon-financeRibbon Finance (RBN) $ 1.40
  • zebec-protocolZebec Network (ZBCN) $ 0.025413
  • whitebitWhiteBIT Coin (WBT) $ 9.07
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 3,230.49
  • flare-networksFlare (FLR) $ 0.033882
  • ordinalsORDI (ORDI) $ 60.43
  • nervos-networkNervos Network (CKB) $ 0.027778
  • tokenize-xchangeTokenize Xchange (TKX) $ 14.93
  • ecasheCash (XEC) $ 0.000059
  • elrond-erd-2MultiversX (EGLD) $ 43.60
  • the-sandboxThe Sandbox (SAND) $ 0.509613
  • axie-infinityAxie Infinity (AXS) $ 7.98
  • bonkBonk (BONK) $ 0.000017
  • starknetStarknet (STRK) $ 1.51
  • dydx-chaindYdX (DYDX) $ 2.35
  • singularitynetSingularityNET (AGIX) $ 0.846790
  • tezosTezos (XTZ) $ 1.11
  • wormholeWormhole (W) $ 0.598926
  • eosEOS (EOS) $ 0.940959
  • havvenSynthetix Network (SNX) $ 3.22
  • chilizChiliz (CHZ) $ 0.118300
  • conflux-tokenConflux (CFX) $ 0.267729
  • gatechain-tokenGate (GT) $ 7.55
  • ondo-financeOndo (ONDO) $ 0.706043
  • roninRonin (RON) $ 3.16
  • kucoin-sharesKuCoin (KCS) $ 10.09
  • worldcoin-wldWorldcoin (WLD) $ 5.23
  • msolMarinade staked SOL (MSOL) $ 180.68
  • pyth-networkPyth Network (PYTH) $ 0.634407
  • decentralandDecentraland (MANA) $ 0.513780
  • jasmycoinJasmyCoin (JASMY) $ 0.019305
  • mina-protocolMina Protocol (MINA) $ 0.845673
  • cheeleeCheelee (CHEEL) $ 16.00
  • gnosisGnosis (GNO) $ 343.95
  • akash-networkAkash Network (AKT) $ 3.79
  • heliumHelium (HNT) $ 5.26
  • iotaIOTA (IOTA) $ 0.264038
  • kavaKava (KAVA) $ 0.781162
  • apecoinApeCoin (APE) $ 1.29
  • pancakeswap-tokenPancakeSwap (CAKE) $ 3.19
  • echelon-primeEchelon Prime (PRIME) $ 21.16
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,283.61
  • frax-etherFrax Ether (FRXETH) $ 3,217.67
  • dexeDeXe (DEXE) $ 13.20
  • nexoNEXO (NEXO) $ 1.33
  • aioz-networkAIOZ Network (AIOZ) $ 0.691820
  • mantra-daoMANTRA (OM) $ 0.908834
  • klay-tokenKlaytn (KLAY) $ 0.202487
  • bitcoin-goldBitcoin Gold (BTG) $ 41.41
  • sats-ordinalsSATS (Ordinals) (SATS) $ 0.00000035
  • usddUSDD (USDD) $ 0.995959
  • aerodrome-financeAerodrome Finance (AERO) $ 1.78
  • dydxdYdX (ETHDYDX) $ 2.31
  • swethSwell Ethereum (SWETH) $ 3,403.11
  • lido-staked-solLido Staked SOL (STSOL) $ 177.81
  • oasis-networkOasis Network (ROSE) $ 0.102300
  • axelarAxelar (AXL) $ 1.10
  • osmosisOsmosis (OSMO) $ 1.05
  • corgiaiCorgiAI (CORGIAI) $ 0.001976
  • illuviumIlluvium (ILV) $ 102.64
  • fraxFrax (FRAX) $ 0.997746
  • radixRadix (XRD) $ 0.061813
  • astarAstar (ASTR) $ 0.114205
  • theta-fuelTheta Fuel (TFUEL) $ 0.098404
  • blurBlur (BLUR) $ 0.413212
  • based-brettBrett (BRETT) $ 0.075477
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000106
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 3,440.98
  • pendlePendle (PENDLE) $ 6.33
  • altlayerAltLayer (ALT) $ 0.486588
  • iotexIoTeX (IOTX) $ 0.063313
  • woo-networkWOO (WOO) $ 0.321994
  • dymensionDymension (DYM) $ 3.64
  • wemix-tokenWEMIX (WEMIX) $ 1.65
  • tether-goldTether Gold (XAUT) $ 2,343.24
  • curve-dao-tokenCurve DAO (CRV) $ 0.480447
  • fasttokenFasttoken (FTN) $ 1.78
  • xdce-crowd-saleXDC Network (XDC) $ 0.039516
  • 1inch1inch (1INCH) $ 0.474467
  • book-of-memeBOOK OF MEME (BOME) $ 0.009841
  • pups-ordinalsPUPS (Ordinals) (PUPS) $ 69.56
  • staked-frax-etherStaked Frax Ether (SFRXETH) $ 3,489.80
  • ocean-protocolOcean Protocol (OCEAN) $ 0.872276
  • manta-networkManta Network (MANTA) $ 2.08
  • enjincoinEnjin Coin (ENJ) $ 0.361858
  • mx-tokenMX (MX) $ 5.23
  • skaleSKALE (SKL) $ 0.099837
  • zilliqaZilliqa (ZIL) $ 0.028043
  • true-usdTrueUSD (TUSD) $ 0.999282
  • memecoin-2Memecoin (MEME) $ 0.032349
  • apenftAPENFT (NFT) $ 0.00000050
  • ether-fiEther.fi (ETHFI) $ 4.31
  • qtumQtum (QTUM) $ 4.65
  • siacoinSiacoin (SC) $ 0.008474
  • ankrAnkr Network (ANKR) $ 0.047848
  • ethereum-name-serviceEthereum Name Service (ENS) $ 15.30
  • stepnGMT (GMT) $ 0.240789
  • terra-luna-2Terra (LUNA) $ 0.677255
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.11
  • 0x0x Protocol (ZRX) $ 0.543097
  • celoCelo (CELO) $ 0.854114
  • holotokenHolo (HOT) $ 0.002552
  • rocket-poolRocket Pool (RPL) $ 22.23
  • aelfaelf (ELF) $ 0.616443
  • compound-wrapped-btccWBTC (CWBTC) $ 1,350.75
  • ravencoinRavencoin (RVN) $ 0.032440
  • ethereum-pow-iouEthereumPoW (ETHW) $ 4.11
  • biconomyBiconomy (BICO) $ 0.586558
  • polymeshPolymesh (POLYX) $ 0.421046
  • project-galaxyGalxe (GAL) $ 4.15
  • basic-attention-tokenBasic Attention (BAT) $ 0.290250
  • frax-shareFrax Share (FXS) $ 5.40
  • pax-goldPAX Gold (PAXG) $ 2,331.75
  • amp-tokenAmp (AMP) $ 0.007585
  • jeo-bodenJeo Boden (BODEN) $ 0.613952
  • golemGolem (GLM) $ 0.422870
  • superfarmSuperVerse (SUPER) $ 0.931431
  • raydiumRaydium (RAY) $ 1.60
  • compound-governance-tokenCompound (COMP) $ 59.78
  • stader-ethxStader ETHx (ETHX) $ 3,316.68
  • safepalSafePal (SFP) $ 0.878770
  • origintrailOriginTrail (TRAC) $ 0.992933
  • jito-governance-tokenJito (JTO) $ 3.37
  • gasGas (GAS) $ 6.06

As the US dollar’s strength persists, Bitcoin remains trapped in tight ranges

0 115
  • Bitcoin has moved in tight ranges since it broke above $30k in 2023
  • Market participants await key economic events in September
  • All eyes are on the Fed and its monetary policy decision

Bitcoin investors probably have lost their patience during the summer months, as the cryptocurrency did not move. Known for its high volatility levels, Bitcoin is simply consolidating current levels.

Make no mistake, the start of the year was a promising one. After all, Bitcoin rallied from 16k to $32k, doubling in price.

But since it traded above $30k for the first time this year, it began a consolidation that currently lasts for more than five months. Moreover, the ranges become tighter and tighter, making it difficult to swing trade. Speculators, therefore, must scalp or wait for the market to move first and act second.

As the US dollar’s strength persists, Bitcoin remains trapped in tight ranges

Bitcoin chart by TradingView

Financial markets await key events in September

Most likely, financial markets (and the cryptocurrency market) do not move because market participants await key events due in September.

More precisely, they await the Federal Reserve of the United States September decision and the US CPI data for August. Both events will increase volatility for the US dollar, so Bitcoin might finally break the range it held during the summer.

The latest inflation data showed that the prices of goods and services in the United States have come down nicely. Sure enough, inflation is way above the Fed’s 2% target.

Nevertheless, the disinflationary process suggests that inflation has peaked and what remains is to give the interest rate hikes time to make their way through the economy.

Therefore, the Fed’s focus might not be on inflation anymore but on job creation – the other part of its dual mandate. As such, if the current inflation trend remains unchanged, the Fed might not see the need to raise the funds rate again.

It means the US dollar might weaken in September if the Fed does not pause and delivers a dovish message. Bitcoin may resume its bullish 2023 trend if that is the case.

Source

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