Gate Weekly Crypto Market Review: Strong Inflows for BTC ETF, Decline in ETH Market Share

Last week (from September 1 to September 7), the crypto market maintained a narrow range of fluctuations under the interplay of macro factors and capital flows. Bitcoin (BTC) ETFs attracted strong capital, while Ethereum (ETH) ETFs faced significant net outflows. Altcoins lacked new narratives to drive momentum, and market sentiment hovered between fear and neutrality. This week (from September 8 to September 14), several macro and project events may become new triggers for market fluctuations.

BTC: Strong Inflow into ETF, Price Volatility at High Levels

Capital Flow: BTC ETF had a net inflow of 349 million USD last week.

Price performance: Fluctuated between 107,000 and 113,000 USD throughout the week.

Market share: temporarily reported at 57.7%, unchanged from last week.

Technical aspect: A pullback of 11% from the historical high in August is considered a normal surge and retreat.

Macroeconomic Impact: After the release of the US non-farm data, expectations for a rate cut in September have increased, but it has also raised concerns about an economic recession.

ETH: ETF large net outflow, market share decline

Capital flow: ETH ETF had a net outflow of 787 million USD last week.

Price performance: Although there is capital outflow, the price remains relatively stable without significant declines.

Market share: temporarily reported at 13.5%, down from last week.

ETH/BTC exchange rate: reported at 0.0389, down about 5% for the week, indicating that BTC is performing better than ETH.

Technical analysis: A pullback of 13% from the historical high point in August, with the market focusing on the CPI data on September 11.

alts: Overall dull, altcoin season index rebounds

Market sentiment: Lack of collective new narratives, following the fluctuations of BTC and ETH.

Fear and Neutral Zone: Narrow Fluctuation Maintained for Two Consecutive Weeks

Altcoin Season Index: Currently reported at 51, indicating signs of strength in alts.

Events of Interest This Week (9.08-9.14)

Macroeconomic Aspect

September 8: The US SEC made a decision on Bitwise's BTC & ETH ETF physical redemption application.

September 11, 20:30 (Beijing Time): The US August CPI data is released.

September 9: SOL Strategies listed on Nasdaq (Ticker STKE)

Project Overview

Linea: Open airdrop claim, tokens fully unlocked

Aptos (APT): Unlocking 11.31 million tokens on September 11 at 18:00 (accounting for 2.20% of the circulating supply, approximately 48 million USD)

Cheelee (CHEEL): Unlocking 20.81 million tokens on September 13 at 08:00 (accounting for 3.13% of the circulating supply, approximately 56 million USD)

Conclusion

Last week, the overall fluctuation in the crypto market was limited, with continuous inflows into BTC ETF supporting high price fluctuations, while ETH ETF saw significant net outflows, placing pressure on its market share. Although there are no new stories in the altcoin market, the altcoin season index has risen to 51, which may indicate the possibility of capital rotation. This week's CPI data and several unlocking events will be key observation points for the short-term market trend.