Bitcoin, XRP and Solana Bounce Back: Here’s What’s Going On
The post Bitcoin, XRP and Solana Bounce Back: Here’s What’s Going On appeared on BitcoinEthereumNews.com. In brief Bitcoin and other major cryptocurrencies posted gains Tuesday morning, driven by expectations of a rate cut. Experts further attributed the recent uptick to a weakening U.S. dollar, Metaplanet’s 1,009 BTC acquisition, and rise in open interest. Analysts noted that a hawkish commentary post-rate cut decision from the Fed could trigger volatility spikes. The crypto market’s rebound this week signals an attempt to pivot from the sustained downtrend noted since mid-August, with experts attributing this comeback to improving macroeconomic conditions and on-chain metrics. Among the top 10 cryptocurrencies by market cap, Bitcoin, XRP and Solana posted gains of at least 2% each according to CoinGecko data—carrying BTC back above $111,000 for the first time since last Friday. While Bitcoin is only up slightly on the week, by 1% as of this writing, Solana has posted a weekly gain of more than 7%, per CoinGecko. Other top coins like Ethereum, Dogecoin, and BNB remain slightly down on the day. Bitget chief analyst Ryan Lee told Decrypt that the depreciation of the U.S. dollar has “bolstered risk-on sentiment and encouraged capital flows into assets like cryptocurrencies.” He added that macroeconomic factors are “amplifying this trend, with markets increasingly pricing in Federal Reserve rate cuts expected in September 2025, which reduce the opportunity cost of holding non-yielding assets such as cryptocurrencies.” Lee pointed to declining Bitcoin exchange reserves, slipping BTC dominance, and Satoshi-era whales accumulating Ethereum, reinforcing the aforementioned bullish sentiment. “The net taker volume has turned positive, suggesting traders are now leaning toward a short-term upside,” DarkFost, a pseudonymous verified analyst at CryptoQuant, told Decrypt. The overnight uptick in open interest for Bitcoin, with a 7-day change in open interest crossing a negative threshold, indicates a liquidation of positions. This has historically been followed by positive reactions, according to DarkFost. The rise…
The post Bitcoin, XRP and Solana Bounce Back: Here’s What’s Going On appeared on BitcoinEthereumNews.com.
In brief Bitcoin and other major cryptocurrencies posted gains Tuesday morning, driven by expectations of a rate cut. Experts further attributed the recent uptick to a weakening U.S. dollar, Metaplanet’s 1,009 BTC acquisition, and rise in open interest. Analysts noted that a hawkish commentary post-rate cut decision from the Fed could trigger volatility spikes. The crypto market’s rebound this week signals an attempt to pivot from the sustained downtrend noted since mid-August, with experts attributing this comeback to improving macroeconomic conditions and on-chain metrics. Among the top 10 cryptocurrencies by market cap, Bitcoin, XRP and Solana posted gains of at least 2% each according to CoinGecko data—carrying BTC back above $111,000 for the first time since last Friday. While Bitcoin is only up slightly on the week, by 1% as of this writing, Solana has posted a weekly gain of more than 7%, per CoinGecko. Other top coins like Ethereum, Dogecoin, and BNB remain slightly down on the day. Bitget chief analyst Ryan Lee told Decrypt that the depreciation of the U.S. dollar has “bolstered risk-on sentiment and encouraged capital flows into assets like cryptocurrencies.” He added that macroeconomic factors are “amplifying this trend, with markets increasingly pricing in Federal Reserve rate cuts expected in September 2025, which reduce the opportunity cost of holding non-yielding assets such as cryptocurrencies.” Lee pointed to declining Bitcoin exchange reserves, slipping BTC dominance, and Satoshi-era whales accumulating Ethereum, reinforcing the aforementioned bullish sentiment. “The net taker volume has turned positive, suggesting traders are now leaning toward a short-term upside,” DarkFost, a pseudonymous verified analyst at CryptoQuant, told Decrypt. The overnight uptick in open interest for Bitcoin, with a 7-day change in open interest crossing a negative threshold, indicates a liquidation of positions. This has historically been followed by positive reactions, according to DarkFost. The rise…
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