BTCC Evening News Highlights (September 10)

1. Bitcoin Falls Toward $77,000, Down Around 1.5% in 24 Hours

Latest CoinMarketCap data showed Bitcoin trading around $77,100, extending its decline over the past 24 hours. High oil prices, US Treasury yields approaching 5%, and rising expectations for another Fed rate hike are weighing simultaneously on risk assets, pushing Bitcoin’s recent trading range around $80,000 lower.

2. SOL Falls Below $100 as ZEC Retreats Nearly 10% From Recent Highs

SOL fell to around $100, down roughly 3% over 24 hours. ZEC pulled back toward $1,120, losing about 10% over the same period, although it remains among the top 10 cryptocurrencies by market capitalization. Higher-volatility assets that had recently outperformed are seeing more pronounced profit-taking.

3. White House Crypto Adviser Says CLARITY Act Progress Is “Pretty Good”

A White House crypto policy adviser said the administration currently feels “pretty good” about progress on the US CLARITY Act. The legislation is intended to further clarify the regulatory boundaries between the SEC and CFTC in digital asset markets and remains in the legislative process.

4. US August PPI Rises 0.4% Month-on-Month and 5.4% Year-on-Year

US Bureau of Labor Statistics data showed the final-demand Producer Price Index rising 0.4% month-on-month in August and 5.4% year-on-year. Goods prices increased 1.1% from the previous month, while services prices rose 0.1%. The index excluding food, energy and trade services increased 0.3% month-on-month.

5. US CPI Due at 8:30 p.m. Singapore Time, Markets Expect 0.4% Monthly Increase

The US August CPI report is due at 8:30 p.m. Singapore time today. Markets expect headline CPI to rise around 0.4% month-on-month and 3.4% year-on-year, while core CPI is forecast to increase 0.2% from the previous month. Following the hotter PPI report, CPI has taken on even greater importance for next week’s Fed decision.

6. Probability of September Fed Rate Hike Rises to Around 70%

Interest-rate markets now imply around a 70% probability that the Federal Reserve will raise rates on September 16, up further from the previous session. High oil prices, strong PPI data and a resilient labor market have prompted investors to increase bets that the Fed could resume tightening.

7. US 10-Year Treasury Yield Nears 5% as 30-Year Yield Hits Highest Since 2007

The US 10-year Treasury yield traded around 4.97% in early Asian hours, approaching the key 5% threshold. The 30-year yield rose to its highest level since 2007, while the two-year yield jumped around 12 basis points overnight as global bond markets continued repricing inflation risks.

8. ECB Raises Rates Another 25 Basis Points, Deposit Rate Reaches 2.5%

The European Central Bank raised its key policy rates by another 25 basis points, lifting the deposit facility rate to 2.5% in its second rate hike this year. Continued increases in energy prices have worsened Europe’s inflation outlook, and markets are beginning to price in further tightening over the coming year.

9. Brent Crude Reaches $109.97, Highest in Four Months

Brent crude climbed as high as $109.97 per barrel during Asian trading, its highest level in roughly four months. WTI also moved above $103. Continued restrictions on shipping through the Strait of Hormuz and worsening conditions around Yemeni ports have intensified concerns over global energy supplies.

10. US Stocks Fall for Fourth Straight Session as Dow Drops More Than 300 Points

On September 10, the Dow fell around 0.6% to 52,064, the S&P 500 declined 0.58% to around 7,592, and the Nasdaq dropped 0.65% to 26,082. The S&P 500 has now fallen for four consecutive sessions and is down roughly 3% from its August high.

11. Nvidia Falls 2.3% and Micron Drops 4.7% as Higher Rates Hit AI Trade

With long-term Treasury yields approaching multi-year highs, valuation pressure on technology stocks intensified. Nvidia fell around 2.3% overnight and Micron dropped 4.7%, while the semiconductor sector came under broad pressure. Inflation risks from high oil prices are reshaping expectations for how long interest rates may remain elevated.

12. Apple Defies Market Weakness with 3.6% Gain After Foldable iPhone Launch

Apple rose around 3.6% despite broad market declines. The company’s latest product event introduced its first foldable iPhone and other new products, with investors responding positively to the prospect of a new hardware cycle. Apple was one of the few major technology stocks to post a notable gain overnight.