Bitcoin and Ether hold steady after recent gains
Bitcoin steady after latest bounce
It is becoming clear that this rally in Bitcoin has legs. Over the past six weeks declines have been contained while the advances have remained strong. While it seems obvious now that $60k was the low in the 2025-26 selloff, it required a combination of revived inflows and a compelling story to really get a proper rally going. Inflows were picking up nicely and then Bessent got stuck into yields, providing the story. Since then the buyers have generally been in control, and a drop in expectations around an October Fed hike provides the extra juice for the rally to push on.
What we’re watching – Oil prices and earnings
A quieter macro week might be just what cryptocurrencies need to make some more headway. Friday’s payrolls dealt a blow to fears that the Fed would have to move in October, giving risk appetite a boost. Meanwhile oil prices are dropping back thanks to a recovery in shipments, and further falls would help alleviate fears about the spread of inflation. Beyond this, the focus now moves to earnings season, which begins in a slightly odd way with Delta’s numbers on Friday before really getting underway next week.
Author
Chris Beauchamp has been with IG for four years, and in that time has become a regular commentator and analyst for the financial press and TV, with appearances on all the major financial channels as well as the BBC and Sky News.
