Bitcoin Reclaims $81,000 as Ethereum, XRP, Dogecoin Gain 2% on Equity Market Rebound

Bitcoin rose 1% on Monday, recovering from a weekend low of $80,000 as equities rebounded.

Notable Statistics:

• Coinglass data shows 87,503 traders were liquidated in the past 24 hours for $333.58 million.       
• SoSoValue data shows net outflows of $82.4 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net outflows of $69.7 million.
• In the past 24 hours, top gainers include Morpho, Arbitrum and LayerZero.

Notable Developments:

• JPMorgan Taps Ethereum for JPM Coin as Tokenization Race Heats Up
• XRP Exchange Reserves Hit One-Year High: What Does It Mean?
• Bitmine Buys 12,535 Ethereum as Tom Lee Calls Tech, Crypto a ‘Coiled Spring’
• ‘Of Course’ Bitcoin Could Grow to $50 Trillion, Jordi Visser Says: But How?
• Could Bitcoin’s Next Big Catalyst Come From the $300 Trillion Bond Market?
• Michael Saylor ‘Found More Room for Orange’ as Strategy Adds 267 Bitcoin

Trader Notes:

Market commentator KillaXBT believes Bitcoin’s messy price action, repeated liquidity hunts and negative sentiment are shaking out traders ahead of a potentially sharp rally.

He warned that prolonged consolidation encourages traders to short every bounce, leaving them vulnerable to a sudden reversal that could erase weeks of gains.

Key opinion leader Roman Trading remains bullish on Bitcoin, citing strong support above $80,000, bullish higher-timeframe indicators and daily bullish divergences.

With Bitcoin consolidating above key support, he expects a potential Q4 rally around the U.S. midterm elections, although he does not necessarily anticipate new all-time highs next month.

Trader Exitpump noted that Bitcoin buyers are consistently defending dips below $81,000, absorbing selling pressure and triggering rebounds. Sustained spot buying could trigger a short squeeze and fuel Bitcoin’s next rally.

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