and BTC may still have room to recover after consolidation, but the trend awaits confirmation from fund flows and macroeconomic data ETH There is still room for recovery after consolidation, but the trend awaits confirmation from fund flows and macroeconomic data

AT A GLANCE

HTX Research analyst Chloe believes that BTC and ETH may have room to recover after consolidation, but this still depends on capital flows, inflation, and employment performance.

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HTX DeepThink: Opportunities may concentrate in assets with earnings and funding support,BTC which may still have room to recover after consolidation

BlockBeats reported that September 24，HTX DeepThink columnist and HTX Research analyst Chloe noted that, over the coming 1 months, U.S. equities may remain range-bound at elevated levels,BTC and ETH may still have room to recover after consolidation, with opportunities concentrated in assets whose earnings and fund flows can be validated. This view assumes that inflation does not deteriorate materially further, corporate earnings expectations remain resilient, and demand for crypto ETF continues.

At the macro level, the Federal Reserve September 16 raised rates by 25 basis points to 3.75%—4%, while U.S.August CPI rose 3.4%year over year and 0.4%month over month; core CPI rose 0.3%month over month. Rate pressures have not yet been lifted, and the transmission of oil prices to inflation remains a key risk. If inflation cools and employment remains stable, risk appetite may recover; if employment weakens abruptly, downward earnings revisions could offset the benefit of falling rates.

U.S. equities still have earnings support. FactSet expects S&P 500 earnings to grow 28.9%year over year in the third quarter, above the June trough of 26.7%. The forward P/E ratio over the next 12 months is 19.1, close to the ten-year average. Valuations near historical averages may provide a buffer against a correction, but in a high-rate environment this does not mean the market is cheap, and the earnings cited above remain analyst forecasts awaiting confirmation in financial reports. Over the next 1 months, further gains in U.S. equities will depend more heavily on earnings being delivered, while a breakout by the index will require yields to stabilize;AI among infrastructure companies, those able to convert orders into profits and cash flow have a relative advantage, while companies relying solely on capital-expenditure narratives may diverge further.

In crypto,September 21 to 22 U.S. spot BTC ETF ETFs recorded combined net inflows of approximately 1714000000 USD，ETH ETF recorded net inflows of approximately 432000000 USD, and demand for funds has extended to ETH, but days of data are insufficient to confirm a trend.BTC broke through September 23 before falling back below 87000 USD, indicating that strong subscriptions may still be interrupted by macroeconomic shocks. The base case is to digest the recent gains first, with fund flows then determining the direction of the breakout: if the five-day 84000 USD cumulative net inflow remains positive,ETF regains and holds BTC and U.S. Treasury yields decline, the market may test 87000 USD; if five-day fund flows turn negative and price lows move lower, the recovery view will be invalidated. 90000 USD has secured funding support, while a broad altcoin rally still requires confirmation from more widespread spot demand.ETH Key upcoming windows include

Key points

HTX Research analyst Chloe expects that over the next 1 months, U.S. stocks may remain range-bound at high levels, BTC and ETH still have room for recovery after consolidation.
This assessment is premised on inflation not deteriorating materially further, corporate earnings expectations remaining resilient, and crypto ETF demand continuing.
The article stated that the Federal Reserve September 16 raised interest rates 25 basis points to 3.75%—4%。
The article states that the United States August CPI rose year on year 3.4%, and rose month on month 0.4%, while core CPI rose month on month 0.3%。
FactSet expects the S&P 500 third-quarter earnings to grow year on year 28.9%, higher than June the bottom's 26.7%the next 12 months' price-to-earnings ratio is 19.1 times.
The article states that,September 21 to 22 U.S. spot BTC ETF recorded combined net inflows of approximately 1714000000 USD，ETH ETF recorded net inflows of approximately 432000000 USD。
The article states that,BTC at September 23 broke above 87000 USD then fell back below 84000 USD。
The author proposes that if the five-day ETF cumulative net inflow remains positive,BTC regains a firm footing, 87000 USD and US Treasury yields decline, the market may test 90000 USD。
The author also suggests that if -day fund flows turn negative and price lows move lower, BTC recovery assessment will be invalidated.
The article states that the content is not investment advice and does not constitute an offer, solicitation, or recommendation of any investment product.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

This is a conditional market outlook, not a definite result that has already occurred. The author believes that whether U.S. stocks can continue rising depends more on the realization of corporate earnings;BTC and ETH whether it can recover remains something to observe ETF through fund flows and macroeconomic data. The two-day ETF inflow is viewed as financial support, but the author explicitly states that this is still insufficient to confirm the trend.

Why it matters to readers

The text lists corporate earnings,ETF cash flows, inflation, employment, and U.S. Treasury yields as indicators for assessing the market direction going forward, and gives the conditions under which BTC recovery scenario would fail.

Beginners should understand the target prices and trend assessments in the article as conditional scenarios, not guarantees. A single-day rise, a single-day pullback, or two-day capital-flow data is insufficient on its own to confirm a long-term trend.

Risks and unknowns

Macroeconomic data,ETF Inflows,BTC prices and FactSet forecasts are both paraphrased from the original text; the available evidence cannot be independently verified.
Corporate earnings data reflects analyst expectations; whether they will materialize remains unknown.
days ETF Net inflows are insufficient to confirm a sustained trend.
It remains uncertain how inflation, employment, oil prices, and U.S. Treasury yields will evolve going forward.

and BTC may still have room to recover after consolidation, but the trend awaits confirmation from fund flows and macroeconomic data ETH There is still room for recovery after consolidation, but the trend awaits confirmation from fund flows and macroeconomic data

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