#writetoearn #ETH🔥🔥🔥🔥🔥🔥
Asia Morning Briefing – ETH trades above $4,600, down 3% on the day but still up 16% in a week and 45% in a month, with the ETH/BTC ratio breaking above its 365-day average — a sign of potential extended outperformance. Spot ETF inflows support the rally, but rising exchange inflows, a high MVRV ratio, and increased call overwriting suggest profit-taking and near-term cooling. Macro risks include upcoming Jackson Hole remarks, CPI, and NFP prints, with inflation data still uneven.
Market Movers:
• BTC: -3% from record highs on hotter U.S. inflation and Treasury’s decision not to expand Bitcoin reserves.
• ETH: -3.3% on profit-taking after a strong rally.
• Gold: -0.62% to $3,336.6 on stronger dollar and yields.
• Nikkei 225: Opened higher as Q2 GDP beat forecasts, though U.S. tariffs pose risks.
• S&P 500: Stalled on hotter PPI; Goldman Sachs warns of correction risk.
Elsewhere in Crypto:
• U.S. blacklists network behind ruble-backed stablecoin and Garantex.
• Wall Street veteran calls out “deceptive” Apple/NVIDIA comparisons.
• Crypto casino CEO charged with gambling away investor funds.