Crypto Market Outlook: Inflation Report and Multicoin's Attention Perps Proposal

The cryptocurrency market is experiencing a surge, with bitcoin reaching $111,500 and the CoinDesk 20 Index rising 2% to 3,667 points. Major cryptocurrencies such as BNB, XRP, SOL, and ETH have seen gains following the pardon of Binance founder Changpeng Zhao by President Trump. The White House has also confirmed a meeting between Trump and Xi on the sidelines of the Korea summit. According to Timothy Misir, head of research at BRN, the market bounce is constructive but fragile, with long-term holder distribution and a record options complex leaving the market exposed to volatility. Traders are awaiting Friday's U.S. consumer price index data, which is expected to show an 18-month high in September. Meanwhile, a Bloomberg report suggests that JPMorgan is set to allow institutional clients to use bitcoin and ether as collateral, deepening the integration of crypto into traditional finance. Multicoin Capital has proposed the concept of perpetual futures contracts tied to Attention Assets, enabling traders to take positions based on cultural or social attention. These 'Attention Perps' will leverage Attention Oracles to create a reliable index reflecting real-world attention. In traditional markets, the dollar index remains steady near 99.00, and the 10-year Treasury yield looks to extend Thursday's bounce to 4%. A hotter-than-expected U.S. inflation report could add to the DXY's bullishness, capping BTC's gains.