Cryptocurrency markets are ticking higher on Monday morning, led by Bitcoin rebounding to $112,000.
Notable Statistics:
- Coinglass data shows 87,737 traders were liquidated in the past 24 hours for $345.03 million.
- SoSoValue data shows net outflows of $418.3 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net outflows of $248.3 million.
Trader Notes: Crypto trader Scient notes Bitcoin closed the week strong but is stalling at key resistance near $112,000 ahead of the monthly close.
The rally from recent lows filled prior gaps, yet underlying support levels remain untested, leaving the recent bottom somewhat uncertain.
A flip above $112,000 could set a push toward $117,000, while failure may trigger a retrace toward the $107,000 range.
Ted Pillows highlights that Bitcoin's recent uptick was largely fueled by short covering, similar to Ethereum.
For sustained momentum, BTC requires a daily close above $113,500; otherwise, a revisit of recent lows is likely.
For Ethereum, Scient sees signs of a potential low forming a broader bottom structure.
A dip below $3,800 could present strong add opportunities, with safer entries in the $3,700–$3,800 range supported by weekly order blocks and the 0.75 Fibonacci pocket.
Upside strength requires reclaiming the $4,200 1D MSS level; failure keeps ETH in choppy territory.
Early October will be critical for ETH and the broader market.
AltcoinGordon anticipates a sharp, aggressive next leg higher. Traders need to position themselves early, as entering late risks chasing the move.
GreyBTC observed a new higher low for Solana targeting fresh all-time highs in Q4. Strong SOL momentum could lift meme coins and broader market sentiment.
Cas Abbe noted Dogecoin is nearing a golden cross. Historically, such setups signal the start of Altseason, with a move above $0.33 potentially triggering widespread altcoin rallies.
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