🌍 Total crypto market cap has surged over $4 trillion, driven largely by a major rally in altcoins .
🟩 $BTC is trading around $120K, inching closer to its July peak (~$123K), and rose ~1% today following cooler U.S. inflation data .
🧠 $ETH is leading the charge with an impressive ~8% daily gain, now nearing $4,700, propelled by strong institutional demand and rising futures interest .
Altcoins like $SOL (+13%), DOGE (+10%), XRP (+4%), and BNB (+6.5%) are also making major gains, reflecting robust bullish momentum across the board .
Key Drivers Behind Today's Surge
Cooling U.S. CPI – July inflation came in lower than expected (~2.7% y/y), boosting hopes of a September Fed rate cut that favors risk assets .
ETH ETF Inflows – Institutional appetite is strong, with ~$524M flowing into ETH spot ETFs vs. $66M into BTC ETFs .
On-chain & futures optimism – ETH futures open interest is climbing, signaling trader confidence .
Altcoin season warming up – The Altcoin Season Index hit 41 today, reflecting capital rotation into altcoins .
Macro & Sentiment Insights
The crypto market cap briefly overtook Apple in value, underscoring bullish sentiment .
Bitcoin dominance is down below 60% as more investors diversify into altcoins .
The Fear & Greed Index sits in the “greed zone” around 63, signaling confident but not euphoric sentiment .
Corporate BTC holdings continue to grow, amplifying sentiment from traditional finance .
What to Watch Next
ThemeWatchpointBTC resistanceEyes on $120K–$123K range. A breakout may signal a fresh rally Fed outlookA probable September rate cut could further fuel crypto gains ETH price actionWill ETH continue outperforming and challenge its all-time high (~$4,878)? ETF flowsTracking BTC vs ETH ETF inflows will show institutional appetite trends
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