Crypto Markets Weaken Amid Intensifying Macro Risks

Crypto markets remained weak in early Monday trading after failing to extend Friday's post-CPI rebound. The U.S. August CPI was broadly in line with expectations, but core CPI rose 0.3% MoM, slightly above consensus, pushing market pricing for a 25bp Fed hike this week to around 85%. This move is likely due to external macro risks intensifying again over the weekend.

The Saudi Arabia East-West oil pipeline was shut after an attack, while another vessel was hit in the Strait of Hormuz. Brent crude climbed back toward $107.5 in early Asian trading. BTC fell back below 77K and ETH retreated toward 2.5K.

For BTC, near-term support remains around 76K, with 75K still the more important downside level. On the upside, 78K-79K has returned as the first resistance zone, while 80K-82K remains the key area for confirming a meaningful recovery.