“A $100K+ floor makes Bitcoin feel less like a high-beta trade and more like a global reserve asset in the making,” one observer said.
The MOVE index, an indicator of bond market volatility, has surged, signaling potential liquidity tightening.
BTC is on the brink of losing a key level that could see prices plunge to $93,000 before a stronger final quarter, Bitfinex analysts cautioned.
The upcoming nonfarm payrolls report is expected to show an increase of 110,000 jobs, with the unemployment rate steady at 4.2%.
Both bitcoin and the CoinDesk 20 Index are lower, and the negative sentiment is echoed in the options and perpetual futures markets.
SOL is the "most obvious long right now," fueled by up to $2.6 billion demand from crypto vehicles in the next month, Arca CIO Jeff Dorman said.
Almost $250 million worth of derivatives positions were liquidated in the past 24 hours despite a relative lack of volatility.
Traders say the combination of macro uncertainty, fragile sentiment, and thinning volumes leaves little room for error heading into what has historically been the toughest month on the calendar.
Exchanges liquidated $370 million of crypto futures bets as bitcoin confounded expectations for a move lower while gold topped $3,500 an ounce for the first time.
Chinese investors have borrowed a record 2.28 trillion yuan to buy local stocks.
A weaker US jobs market has strengthened the case for easing, and investors are seeking protection in hard assets, some opine.
DOGE led losses among major tokens with a 4.5% slide in the past 24 hours ahead of the Labor Day holiday in the U.S.
Top bankers and economists expect the BOJ to hike rates in the fourth quarter, boosting the appeal of yen and yen-backed assets.
Negative price action around the annual U.S.-based Bitcoin Conference has been well-documented, but it also appears to have applied to this week's Bitcoin Asia get-together.
Open interest in SOL futures hit a record high alongside a rally in the token's price to a level not seen since February even as Solana application revenue dropped.
Tiger’s model pegs a “base price” of $135,000, then layers on multipliers for fundamentals (+3.5%) and macro conditions (+35%) to reach the $190,000 forecast.
While the CoinDesk 20 Index of largest tokens has gained less than 1% in the past 24 hours, the CoinDesk 80 Index has rallied 4%.
Analysts highlight Hyperliquid's strong fundamentals but caution about potential risks from scheduled token unlocks and its high valuation.
Positive policy developments coupled with technical indicators point to bitcoin and the cryptocurrency market being well-placed to explode to new trading highs, writes Biyond’s Nathan Batchelor.
Bitcoin, holding above $111,000 having bounced from lows earlier in the European day, is up less than 1% in 24 hours while the CoinDesk 20 Index has added 3.2%.
Since the beginning of June, ether treasury companies and ETH ETFs have purchased a massive 4.9% of the crypto's circulation, the bank's Geoff Kendrick said.
The prospects of sustained recovery appear bleak as on-chain activity points to weak network adoption.
“This sharp move appears to be the result of overleveraged positioning, particularly following ETH’s recent run-up, and an overnight dip in the S&P 500, which weighed on risk assets more broadly,” a trader note said.
"Sell of Rally" sentiment weighs on BTC as ETH's futures and options markets hit record highs.
A flush of long liquidations can reset the market for a cleaner bounce, while a cluster of short wipes can fuel the next leg higher.
Bitcoin's price flash crashed on Sunday after a whale reportedly sold 24,000 BTC, reversing gains from Fed Chair Powell's dovish speech.
Powell’s dovish tone sent ether to fresh highs, but nearly $400 million in liquidations shows just how stretched traders were heading into the move.
Bitcoin held a crucial support level amid cautious market positioning ahead of Powell's Jackson Hole speech.
Crypto markets are treading water as investors wait for Fed Chair Jerome Powell’s Jackson Hole speech, where a hawkish tone could drag bitcoin lower while a dovish pivot may offer relief.