The BTC has experienced a new decline. On Wednesday, the leading cryptocurrency is balancing near 20,303 USD though yesterday it rose to 22,780 USD.

Yesterday the USD reversed abruptly after the US inflation statistics came out. The CPI in the US in August turned out to be 8.3% y/y while the forecast level had been 8.1%. Base inflation leaped up to the high of March, 6.3% y/y.

After such statistics were published, market expectations of the interest rate of the US Fed worsened quite a bit. Investors are now 86% sure that the rate will grow by 75 base points in September. There is even a forecast about growth by 100 base points at once, but the probability of such an event is just 14%.

Over the nearest two days, investors will try to play back the losses. If this does not happen, the bears will be heading for 20,000 USD and then – to 18,000 USD. For growth to become possible again, the BTC needs to return above 22,500 USD.

Terra Classic: new uptrend

The Terra Classic token (LUNC) yesterday turned out to be the only crypto out of the Top 30 list that demonstrated growth. While other digital assets were selling, the token grew by 20%, reversing the decline that started on weekend.

North Island Ventures starts new fund

An investment company North Island Ventures that invests in crypto announced a launch of a new fund. It will be sized 125 million USD. The company plans to invest the money in new crypto and Web3 companies and protocols at early stages.

Binance will distribute tokens of Ethereum PoW fork

The Binance crypto exchange plans to distribute among ETH holders the tokens of the Ethereum PoW fork after The Merge update comes in force. The fork tokens will be deposited as 1 to 1. Withdrawal will become available a bit later.