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Phemex Crypto Market Daily: Bitcoin and Ethereum Gain as US CPI Release Looms; Siren Surges 23% (Apr 10)
Key Takeaways:
1. Macro Environment US CPI is expected to show the largest monthly inflation jump in four years, driven by surging oil prices and persistent Middle East tensions. The Federal Reserve is likely to delay rate cuts, tightening financial conditions for risk assets. Regulatory uncertainty persists as the US pushes for the CLARITY Act and new stablecoin AML rules, impacting global crypto innovation. 2. Crypto Market The crypto market showed mixed performance over the past 12 hours. Bitcoin (BTC) rose 1.87% to $71,840, while Ethereum (ETH) gained 0.77% to $2,183.79, both supported by moderate risk appetite. Among altcoins, SIREN (SIREN) surged 23.46%, Canton Network (CC) climbed 6.58%, and JUST (JST) advanced 5.98%, mainly on speculative flows rather than fundamental news. Most major altcoins saw mild gains, with Solana (SOL) up 1.48% and FET up 1.82%. 3. Today's Outlook Today, the US March CPI report will be released at 8:30 a.m. EST, with markets bracing for a sharp inflation uptick that could drive volatility across crypto assets. Additionally, nearly 38 billion RAIN tokens (3.37% of supply) will unlock, potentially impacting token-specific market dynamics.
