- Bitcoin clawed back above $80,000 after a rough stretch defined by a Federal Reserve rate hike, the Senate's 49-50 vote against advancing the Clarity Act, and a surprise rate hike from the Bank of Japan. The market held its range rather than selling the regulatory setback.
- Bitcoin's dominance slipped from 64% to 59% of total crypto market value, the clearest sign traders are rotating profits into smaller tokens. XRP was a top beneficiary, opening at $1.2964, topping $1.4028, and settling near $1.3863 for a 6.93% daily gain.
- Solana and Hyperliquid rallied alongside XRP as the market shrugged off the Clarity Act setback, with the SEC and CFTC advancing crypto-related rulemaking despite the bill stalling in the Senate.
- XRP's 50-day and 200-day EMAs narrowed to their tightest gap since August 2024, setting up a possible daily golden cross as soon as mid-October. ADX at 35.2 with DI+ above DI- confirms trend strength, and RSI at 54.6 leaves room before overbought territory.
Quotes
“Bitcoin has clawed its way back above $80,000.”
“Bitcoin's dominance, or its share of total crypto market value, slipped from 64% to 59%, a sign that traders are rotating profits into smaller tokens.”
“XRP opened the day at $1.2964 and pushed as high as $1.4028 before settling near $1.3863, a gain of 6.93% on the daily candle and one of its sharpest single-day moves in weeks.”
“The moves comes as the SEC and CFTC advance crypto-related rulemaking despite the Clarity Act stalling in the Senate.”