What You Need to Know:

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Latest Developments in the Market

Bitcoin has reverted to levels seen before Federal Reserve Chairman Jerome Powell’s accommodating remarks last Friday, which ignited a temporary increase in U.S. stocks and cryptocurrencies. This drop paused Ethereum’s rally and resulted in losses across the altcoin market.

According to Alex Kuptsikevich, a senior analyst at FxPro, assets like Ethereum are starting to see increased liquidity as funds flow from Bitcoin.

“Bitcoin is trading around $112,000, having dropped to a low of $110,000 – its lowest since early July. The uptick on Friday drew new sellers, pushing Bitcoin below its 50-day moving average,” Kuptsikevich observed in an email.

(Note: Translation - “Bitcoin is trading around $112,000… below its 50-day moving average.” )

In related news, analytics firm Lookonchain noted that a significant Bitcoin investor who previously collected 100,000 BTC began reallocating into Ethereum over the weekend.

Institutional Moves

Singapore-based QCP Capital expressed that while Bitcoin seems to be losing short-term momentum to Ethereum, they maintain optimism about Bitcoin’s long-term outlook.

Japanese institution Metaplanet recently acquired more Bitcoin, taking its total to 18,991 BTC, signaling growing institutional interest in cryptocurrency as a component of diversified investment strategies.

Notable Market Activity

The fluctuations following the recent price movements have ignited activity in the derivatives market. Hyperliquid reported a record in spot trading volume, demonstrating an increase in BTC and ETH deposits that has positioned it among the largest exchange platforms in terms of transaction volume.

Market Metrics

• Bitcoin** is trading at $111,825.43, down 4.45%.
• Ethereum** is now valued at $4,612.09, reflecting a 4.84% drop.

As this recap emphasizes, staying informed about market shifts and institutional trends can help navigate the evolving landscape of cryptocurrency investments.