TLDR
- The global crypto market climbed to nearly $2.82 trillion, reaching its highest level in more than seven months.
- Bitcoin broke above $81,000, gaining about 5.4% and helping lift broader market sentiment.
- Zcash led major crypto gains with a 16.5% jump, while Cardano, Dogecoin and XRP also posted strong advances.
- Crypto-linked stocks joined the rally, with Strategy, Circle and Coinbase recording double-digit gains.
- About $100 million in ETF inflows and OTC activity supported Bitcoin’s move above the $80,000 level.
The Crypto market climbed to nearly $2.82 trillion on Thursday, its highest level in more than seven months. Bitcoin price moved above $81,000, while several major altcoins recorded strong daily gains. The advance marked a sharp recovery from the January sell-off, when total market value fell toward $2.3 trillion in early February. Trading activity strengthened across large-cap tokens as investors returned to risk assets before fresh U.S. economic data and the Federal Reserve decision scheduled later this month.
Crypto market Rebounds as Bitcoin Clears $81,000
Bitcoin traded near $81,460 at publication time, gaining about 5.4% over 24 hours. Its move above $80,000 helped lift broader market activity after months of uneven trading and weak risk appetite.
The Crypto market has now recovered much of the value lost during the early-year decline. Total capitalization had fallen from about $3.4 trillion in mid-January before reaching a low near $2.3 trillion in the first week of February.
Zcash led gains among the top 50 cryptocurrencies, rising about 16.5%. Cardano advanced roughly 13%, while Dogecoin and XRP each gained close to 10% as buying spread beyond bitcoin.
Crypto-linked shares also moved higher during the session. Strategy and Circle gained about 15%, while Coinbase rose around 10%. Strategy’s STRC preferred shares also moved close to their $100 target value after falling to about $69 five weeks earlier.
ETF Flows and Fed Expectations Drive Attention
Wincent Senior Director Paul Howard linked bitcoin’s move above $80,000 to about $100 million in ETF inflows and over-the-counter activity. He also pointed to renewed memecoin trading as another source of market activity.
Rate expectations remain divided before the Federal Reserve’s Sept. 16 meeting. Traders currently assign a 50.4% chance to a 25-basis-point rate increase and a 49.6% chance that policymakers leave rates unchanged.
Richard Green of RootstockLabs said bitcoin’s rise alongside gold reflects investor interest in hard assets during concerns about government debt and future monetary support. He also said further price declines remain possible.
Tesseract Group’s Adam Haeems noted about $1.4 billion in September bitcoin puts between $68,000 and $75,000. Call open interest remains stronger, with heavy positioning from $82,000 to $100,000. He described the setup as a hedged long, where investors keep exposure while protecting against a pullback.
