The crypto markets fell for the week, with Bitcoin (BTC) dropping 7.0%, Ethereum (ETH) down 9.0%, and Solana (SOL) falling 3.8%. The Nasdaq Crypto IndexTM (NCITM) declined 7.1%. Crypto markets remain in a consolidation phase but have accrued a sequence of weeks performing negatively, despite positive newsflow regarding institutional adoption.
US jobs report sparks volatility
After the release of the US jobs report on September 6, which led to speculation about the Fed’s intentions for rate cuts, Bitcoin experienced significant volatility. The price surged to $57,000 but then dropped below $54,000, marking its lowest point in a month. This sharp swing triggered nearly $50 million in liquidations of leveraged positions in just one hour, affecting various altcoins.
Australia’s first ETH ETF may begin trading soon
The Monochrome Asset Management filing is expected to be listed by the end of the month. This news is significant for investors as it signals greater acceptance of crypto from regulators, which could further drive adoption in global markets.
Crypto-native travel platform integrates with Skyscanner
Travala, a crypto-friendly travel platform, has formed a strategic partnership with Skyscanner, one of the world’s largest travel aggregators. This integration allows Skyscanner’s over 110 million monthly users to access Travala’s offerings, including booking more than 2.2 million hotels and the ability to pay with over 100 different cryptocurrencies. This move aims to facilitate crypto adoption in the travel sector. The integration highlights the growing acceptance of alternative payment methods, reinforcing the practical utility of crypto assets in everyday services.
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