SOL Futures Are More Popular Than Ever as U.S. Inflation Report Looms
The crypto market is down today, signaling risk aversion ahead of the U.S. core PCE inflation data release, which could influence the Federal Reserve’s path on interest-rate cuts.
The CoinDesk 20 Index, a measure of the broad market, has dropped 3.6% in the past 24 hours, with all but one member lower over that period.
According to analysts at Bitunix , a hotter-than-expected figure could prompt the Fed to adopt a one-and-done stance following the expected rate cut at the September meeting.
“For BTC, watch whether $114.5K flips into support, or if a retest of $107.6K support confirms market resilience,” the exchange told CoinDesk in an email.
Derivatives Positioning
- Open interest (OI) in futures tied to the top 20 coins, excluding SOL, has…
