Bitcoin Stays Above $60K – The Crypto Whale Keeps Calm
Yesterday’s Bitcoin market hiccup had it dipping below $50,000, but the digital gold rush quickly bounced back and has been sitting comfortably over $60,000 since.
What’s Behind the Bounce?
- Cooler Jobs News: U.S. weekly unemployment claims came in at 233,000 — the lowest in a month and lower than the market expected.
- Less Room for Rate Cuts: Because the jobs data looked decent, traders are less likely to push for a half‑point cut of interest rates in September.
- Stocks Cheer: The NASDAQ 100 jumped over 3% in response to the upbeat vibe.
- Bitcoin ETF Super‑Stack: Investors poured in over $192 million into Bitcoin ETFs— the biggest flow in nearly twenty days.
Altcoin Rollercoaster
Altcoins rode the Bitcoin wave at first, but dipped again early Monday, hinting that volatility is still on the menu. The market mood for altcoins is still quite pink‑tired.
A legal win for Ripple Labs also gave altcoins a momentary boost. The SEC’s settlement with Ripple was trimmed from $2 billion to just $125 million. Still, risks linger.
The Capriole Investment Speculation Index – a gauge comparing altcoins to Bitcoin – sits at its lowest in a year, currently just 5%.
Quick Takeaway
- Bitcoin’s >$60k hold shows market confidence easing after the surprise unemployment dip.
- Risk appetite is surfacing, sparking gains in stocks, ETFs, and a brief lift for altcoins.
- Stay alert: the altcoin market could still be primed for a sharp pullback.
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