Bitcoin traded above the $80,000 mark and Ethereum near $2,620 despite a hawkish Federal Reserve decision and a setback for the CLARITY Act. Bitcoin was trading at $81,012, while Ethereum stood at $2,622 on Saturday.Over the past 24 hours, Bitcoin gained 4.6%, and Ethereum rose 6%. Among major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin and Cardano gained up to 6.2%.Riya Sehgal Research Analyst Delta Exchange said the rebound reflects improving risk sentiment and positioning.
Cooling oil prices have eased inflation concerns. The rally also forced bearish leverage out of the market, accelerating the move through short liquidations.Also Read |Explained: When should mutual fund investors use CAGR, XIRR or IRR to calculate returns?Sehgal further said the focus now shifts to whether the breakout can hold. Bitcoin remaining above $80,000 and Ether holding 2,580–2,600 would preserve the near-term structure.The global crypto market capitalisation was up 4.1% to $2.86 trillion on Saturday, according to the data on Coingecko.Over the last week, Bitcoin and Ethereum gained 4.9% and 4.6%, respectively.
Among major altcoins, BNB, XRP, Solana, Hyperliquid, Dogecoin and Cardano gained up to 18.4%, while Tron declined 1.18%.Nischal Shetty, founder of WazirX, said ETF activity reversed during the week. Bitcoin ETFs moved from daily inflows of $159.9 million to outflows of $450.33 million and $295.98 million. Ethereum ETFs shifted from a $121 million inflow to outflows of $141 million and $224.11 million.Also Read |Only 2 of 23 mutual fund themes gained in August; IPO, defence stay green as auto, railways and tech slide : ReportShetty further said BTC and ETH remained relatively stable as spot demand and derivatives positioning absorbed part of the selling.
Overall, recovering US and Asian equities, falling volatility and softer commodities supported crypto sentiment, although elevated rates, regulatory uncertainty and expensive oil kept the weekly outlook balanced.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
