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Bitcoin trades near USD 81,282, up 5.54% on the day, holding above the USD 80,000 support zone.
September rate hike odds slipped to roughly 50%, down from 70% a day earlier.
Total crypto market capitalization climbed to USD 2.72 trillion as liquidations hit USD 691 million.
Bitcoin pushed back above USD 81,000 on Friday, extending a sharp rebound from earlier this week. The move gathered pace after Federal Reserve Governor Christopher Waller signaled support for holding rates steady this month. Traders quickly repriced September rate hike odds lower, and risk appetite returned across digital assets. Total crypto market capitalization climbed to USD 2.72 trillion, a gain of nearly 5% on the day.
Every major token followed Bitcoin higher, with Zcash, XRP, and Hyperliquid posting the sharpest moves. On-chain data showed heavy short covering as leveraged bets got squeezed out of the market.
The Crypto Fear and Greed Index reached 78, firmly in greed territory, up from extreme fear just weeks ago. Traders are now watching next week's inflation data ahead of the Fed's September 16 meeting.
Bitcoin traded at USD 81,282.87, up 5.54% over the past 24 hours, according to live CoinMarketCap data. Its market capitalization stood at USD 1.63 trillion. Trading volume over 24 hours reached USD 40.56 billion. Bitcoin dominance held near 59.87% of the total crypto market.
Below is today's Daily Quote roundup from leading crypto market analysts on Bitcoin's near-term structure.
Balaji Srihari, VP - Business, India at CoinSwitch, said Bitcoin's broader trend stays constructive above its key moving averages. He flagged daily RSI above 73 and hourly RSI above 80 as signs of stretched momentum.
A short-term pullback would be healthy at this stage, he said. Srihari marked USD 80,000 as key support, with a decisive move above USD 83,000 opening the door for further upside.
Prateek Gupta, Head of Business at Mudrex, tied the rally to Waller's comments favoring a steady rate hold. September rate hike odds fell 12 percentage points to 54.6% following the remarks.
Bitcoin's correlation with gold has climbed to its highest level since 2020, Gupta noted. He flagged six straight days of unusually large fund flows as a possible warning sign. Resistance sits near USD 83,000, with support now at USD 78,000.
Also Read: Bitcoin ETFs Post Best Month of 2026 as BTC Holds Near USD 77K
Riya Sehgal, Research Analyst at Delta Exchange, said total crypto market capitalization jumped 3.9% to near USD 2.72 trillion. Roughly USD 691 million in positions were liquidated over 24 hours, up 166% from the prior session.
Forced short covering likely added extra buying pressure, she said. Sehgal placed resistance between USD 82,000 and USD 84,000, with a pullback toward USD 78,000 to USD 78,900 seen as a healthy retest.
Source: CoinGecko, prices as of today's session.
Zcash led the top ten with a sharp 16.4% gain, extending its rebound to an eight-year high near USD 945. XRP followed with a 7.7% rise, and Hyperliquid added 6.5% on renewed derivatives demand. No coin in the top ten posted a decline over the past 24 hours today. Tether and USDC stayed flat, as expected of dollar-pegged stablecoins.
CME FedWatch odds for a September rate hike fell back to roughly 50% on Friday. The move reversed a sharp climb that had pushed the probability above 70% a day earlier.
Odds had touched just 37% a week before that, driven by whipsawing Fed commentary. Traders now see a possible second hike slipping toward March instead of December.
US spot Bitcoin ETFs logged roughly USD 135 million in net outflows week to date through Tuesday. A single-day rebound of USD 101 million only partly offset earlier withdrawals from the group.
Ethereum ETFs saw about USD 37 million leave over the same stretch. Analysts said flows have yet to fully catch up with this week's sharp spot price rally.
Roughly USD 691 million in crypto derivatives positions were liquidated over the past 24 hours. That marked a 166% jump from the previous session, with shorts bearing the brunt.
The wave of forced buying added extra fuel to Friday's rally. Traders said elevated leverage in derivatives markets could still trigger sharp swings in either direction soon.
Zcash surged past USD 940, its strongest level since 2018, as futures volume approached USD 10 billion. The rally builds on renewed privacy-coin demand and a pending Grayscale ETF filing.
ZEC has outpaced every other major token this week by a wide margin. Traders flagged the token's sharp swings as a reminder that altcoin rallies can reverse just as fast.
The Dow gained 1.18%, the S&P 500 rose 1.06%, and the Nasdaq advanced 1.40% on Thursday. The VIX volatility gauge dropped nearly 6%, and Asian markets followed with broad gains.
Gold slipped slightly even as oil edged higher through the session. Lower volatility and stronger equities gave crypto an extra tailwind heading into Friday's trade.
SoFi Technologies agreed to open its banking infrastructure to crypto exchange Kraken under a new partnership announced this week. The deal deepens ties between traditional finance and crypto trading platforms.
The tie-up follows a broader trend of banks courting crypto firms as regulatory clarity improves. Analysts said such partnerships could widen retail access to digital asset trading over time.
Michael Saylor's Strategy resumed Bitcoin purchases this week, adding 4,603 BTC after a ten week pause. The renewed buying signals fresh confidence as Bitcoin reclaimed the USD 80,000 level.
Strategy-linked stock jumped double digits on the news, far outpacing the broader crypto market. Analysts said a sustained move above USD 80,000 could support further accumulation ahead.
Brent crude touched a six-week high near USD 97 a barrel this week. Reports suggested the White House is pressing for an end to hostilities between the US and Iran.
Easing war fears added to risk appetite already lifted by softer Fed rate expectations. Traders said a formal ceasefire could remove one lingering overhang from crypto markets soon.
Also Read: Is Bitcoin Still a Portfolio Diversifier in 2026? How its Role has Changed
Friday's rally reflects a shift in rate expectations rather than a fresh crypto-specific catalyst. Bitcoin now faces resistance between USD 82,000 and USD 84,000 heading into next week's session.
A decisive close above USD 83,000, backed by steadier ETF inflows, would strengthen the recovery case. Investors should track next week's CPI report and the Fed's September 16 decision closely. Elevated leverage and stretched RSI readings suggest a near-term pullback remains possible even within an uptrend.
Desks recommend disciplined position sizing over chasing strength after a sharp one-day move. Staggered entries and lower leverage remain the preferred approach until both the data and geopolitical picture settle.
1.What is the Bitcoin price today?
Bitcoin trades near USD 81,282.87, up 5.54% over the past 24 hours, according to live CoinMarketCap data. Resistance sits near USD 83,000, while support holds close to USD 78,000, based on levels flagged across trading desks today.
2.Why did Bitcoin rally above USD 81,000 today?
Bitcoin climbed after Fed Governor Christopher Waller signaled support for holding interest rates steady this month. September rate hike odds fell sharply, easing pressure on yields and reviving demand for Bitcoin.
3.What is the biggest crypto news today?
Today's headlines include swinging Fed rate hike odds, a USD 691 million liquidation spike, Zcash's rally to an eight-year high, and SoFi's new banking partnership with crypto exchange Kraken.
4.Which coins are performing best today?
Zcash leads the top ten with a 16.4% daily gain, followed by XRP and Hyperliquid. No coin among the top ten posted a decline over the past 24 hours today.
5.What should investors watch this week?
Track next week's US CPI report, ongoing Bitcoin ETF flow data, and the Federal Reserve's September 16 rate decision, since each could move crypto prices sharply in the days ahead.
