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On Tuesday, September 2, leading cryptocurrencies showed growth amid a return of market greed and new large institutional investments.
Thus, Bitcoin BTC $78,154.98 Bitcoin 0.97% Market capitalization $1.57 trillion VOL. 24 hours $0.59 billion rose by 1.66% to $ 111,119, reaching an intraday high of $ 111,782. The price was positively influenced by Strategy Inc.'s announcement that it would buy BTC for $ 450 million, as well as $ 260 million in inflows into bitcoin ETFs as of September 2.
Ethereum ETH $2,450.56 Ethereum 0.98% Market capitalization $295.74 billion VOL. 24 hours $0.28 billion remained relatively stable at $ 4317, while XRP XRP $1.40 XRP 1.07% Market capitalization $87.55 billion VOL. 24 hours $73.26 million gained 3.09% to $ 2.85 and Dogecoin DOGE $0.09 Dogecoin 0.35% Market capitalization $13.27 billion VOL. 24 hours $24.15 million rose 1.67% to $ 0.2142. Solana SOL $105.10 Solana 1.39% Market capitalization $61.4 billion VOL. 24 hours $0.16 billion showed the largest growth, adding almost 6% to reach $ 211.5. The total capitalization of the crypto market increased to $ 3.82 trillion (1.34% per day).
The Fear and Greed Index for cryptocurrencies has moved from «neutral» to «greed». Over the past 24 hours, more than $ 267 million was liquidated from the market, mostly by short traders, while open positions on Bitcoin on Binance were more than 60% long.
Amid the growth of cryptocurrencies, US stock indices declined: Dow Jones lost 0.55%, S&P 500 — 0.69%, and Nasdaq — 0.82%. This was due to a rise in the yield of 10-year government bonds to 4.27% and 30-year bonds to over 4.9%.
CryptoQuant analysts note that the current drop in bitcoin from its highs of 12% is a typical correction within a bull market. Historically, they have ranged from 20% to 25%. According to them, such movements help reduce excessive leverage and cool the market. Renowned trader Michael van de Poppe believes that the correction could end soon if BTC breaks through $ 112,000 ahead of the September 17 Fed meeting.