Bitcoin Remains Steady While Ethereum Gains Traction Ahead of September
Market Overview
Bitcoin is stabilizing around $112,000, while a divide is emerging between BTC and ETH. Investors are treating BTC as a macro hedge, whereas ETH shows potential for higher returns.
- BTC acts as a hedge due to policy uncertainties and elevated term premiums.
- ETH is gaining momentum with traders anticipating a breakout, supported by recovering risk reversals.
- SOL options activity is increasing, driven by sentiment in its ecosystem and corporate initiatives.
- Prediction markets suggest BTC may remain capped near $120,000, while ETH has a strong chance of surpassing $5,000.
- Flowdesk reports high client positioning for upside amid macro risks.
Market Movements
BTC: Trading within the $110K–112K range with decreasing short-term volatility.
ETH: Currently at $4,400, boosted by institutional interest and upcoming network upgrades.
Gold: Reaches record highs amid expectations of Federal Reserve rate cuts and increased ETF demand.
Nikkei 225: Gains 0.57% following a tech rally in the U.S.
S&P 500: Rose on positive news from Alphabet and increased bets on Fed rate cuts.
Elsewhere in Crypto
- U.S. CFTC approves Polymarket's new exchange, QCX.
- Pump.fun distributes $2M to creators in its first 24 hours under a new fee model.
- Novogratz predicts AI agents will become the largest users of stablecoins.