Bitcoin News
By James Thorp
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Derivatives Are Doing the Heavy Lifting. Here's the part that's making analysts nervous. Bitcoin's rally to $80,000 wasn't really built on…
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Japan's Currency Moves Add Another Layer of Risk. Meanwhile, Japan is making things complicated. The Ministry of Finance reported that Japan's…
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What the Divergence Actually Means. The gap between derivatives activity and spot demand is the central tension in Bitcoin's current…
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Bitcoin crossed $80,000 and held it at the close — first time that's happened since May. Now everyone's waiting to see if it sticks.
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The move came as traders braced for a heavy week of US economic data, with both the Producer Price Index and Consumer Price Index figures for August due out.
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The CME Group's FedWatch Tool puts a 58.4% probability on a 0.25% rate hike.
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That number got extra weight from the latest nonfarm payrolls report. August added 162,000 jobs — way above the earlier estimate of 56,000.
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Here's the part that's making analysts nervous. Bitcoin's rally to $80,000 wasn't really built on spot buying. Open interest in Bitcoin derivatives jumped by $2.
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When futures lead and spot lags, that's not a great sign. It means the price action is being driven by leveraged bets rather than actual accumulation.
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Liquidity is concentrated around $80,560. That's been a ceiling Bitcoin's struggled to clear cleanly.
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Developer Jesse Olson sees a potential reversal around $76,000, drawing parallels to an earlier bullish pattern.
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Related: Jobs Surprise Sends Bitcoin Below $80K as Fed Rate Odds Split 50/50
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If Japan sells US Treasuries to finance future rounds of intervention — which is one of the tools available — that could push US bond yields higher and create ripple effects…
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Polymarket puts the probability of a BOJ rate hike in September at 98%. That's basically a done deal in the market's eyes.
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The crypto market is sensitive to USD/JPY moves because of how the yen carry trade works. When the yen strengthens sharply, it tends to unwind carry positions, and that can pull…
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