BTC bounces back, corporate buying continues, and Friday’s US jobs numbers
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📈 Bitcoin rebound - BTC back above $110,000, up 2% overnight.
📉 Stocks under pressure - S&P 500 and Nasdaq 100 in the red ahead of US jobs data.
🏢 Corporate buying - Japan’s Metaplanet boosts Bitcoin holdings to 20,000.
Crypto markets bounced back this morning, with Bitcoin (BTC) reclaiming $110,000 even as the broader US stock market retraced. The market leader is up more than 2% overnight, with a few others in the top 10 by market cap also posting similar gains. Bitcoin Cash (BCH) rose more than 4%, while Stellar (XLM) and Avalanche (AVAX) were both up more than 2%. Despite the uptick, the Fear and Greed Index continues to reflect creeping uncertainty in crypto markets.
US stock markets remain under pressure, with both the S&P 500 and Nasdaq 100 in the red this morning. Investors appear cautious ahead of Friday’s US labour market data, which could give the Fed a clearer picture of how to balance inflation concerns against a weakening employment sector. Some analysts also pointed out that September has historically been a sluggish month for equities, though past performance is no guarantee of the future.
Meanwhile, public companies continue to add crypto to their balance sheets. Japan’s Metaplanet purchased more than 1,000 Bitcoin, bringing its total holdings to 20,000.
In the markets…
🌍 Total crypto market cap ↘️
The global crypto market cap is approximately $3.77 trillion, down 0.5% over the past 24 hours.
🟠 Bitcoin (BTC) ↗️
Price: $110,414 up 2.1% in the last 24 h.
Daily high: $110,507
Daily low: $107,542
📈 S&P 500 ↘️
SPY is currently down about 0.64% since yesterday’s close.
📈 Nasdaq 100 ↘️
The Nasdaq 100 is down about 1.22% overnight.
😐 Fear & Greed Index
The Crypto Fear & Greed Index stands at 39/100, in Neutral.
Data is correct as at 2 September, 07:01 GMT.
Cautionary Notes
It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
