BTC Slows Down Post-Summer Rally
Bitcoin (BTC) is taking a breather after a stunning summer climb.It peaked near $124,000 in August but has since retreated about 10%.
It hovers around $112,000 as of Sept. 8,up slightly in the last 24 hours. This consolidation comes as key economic events approach.
Big players haven’t lost faith. MicroStrategy bought another 1,955 BTC for $217 million. Metaplanet, too, added 136 BTC worth about $15 million.
Ethereum trails Bitcoin, dropping around 13% from its peak near $5,000. It trades between $4,240 – $4,480 now.
Altcoins Show mixed Signs
Altcoins are cautious, with Solana (SOL) and Ripple (XRP) up around 4-5%. XRP got attention for ETF rumors, briefly topping $3.
Dogecoin (DOGE) and Hyperliquid rose 7% and 8%, respectively. Worldcoin (WLD) spiked over 20% with new sign-ups reported.
World Liberty Financial (WLFI) faced trouble. Over 270 wallets got blacklisted amid manipulation concerns, leading to a 31% drop.
Market Sentiment and Macro Factors
The Fear & Greed Index stands at 42 – neutral territory. U.S. labor market softness hints at a Fed rate cut in September.
Ninety percent expect a 25 basis point cut; only 10% think 50 basis points. Looser policy could help crypto by improving liquidity.
Equity markets also influence crypto. Recent stock rebounds steadied crypto, despite tariff concerns and high jobless claims.
The crypto road ahead depends on Bitcoin’s lead and macroeconomic cues. As always, investors should stay cautious.
