Bitcoin Pushes Higher as Wall Street Recovers From Rough Open
U.S. equities stumbled at the start of the shortened week but have already pared back a large portion of their initial declines.
Crypto markets are entering September with renewed momentum after August’s weak finish. Buying picked up quickly as U.S. desks reopened, propelling bitcoin (BTC) from around $107,500 to as high as $111,700. At last check, BTC traded near $111,600, up roughly 2.5% in the past 24 hours. Solana (SOL) and XRP advanced in line, while ether (ETH)—which led gains last month—was little changed.
Equities Steady After Early Slide
Sentiment across risk assets improved as stocks trimmed steep opening losses. Worries over tariff headlines and the persistence of higher global bond yields initially pushed the Nasdaq down 2%. Within 90 minutes, though, buyers had halved that drop.
Macro Drivers Ahead
Economic data releases continue to set the backdrop. August’s ISM Manufacturing Index came in at 48.7, slightly below expectations and pointing to ongoing contraction. The Prices Paid subindex eased to 63.7, indicating some relief in cost pressures.
Investors now turn to Friday’s U.S. jobs report, a key test for Federal Reserve policy. Strong hiring could challenge expectations of a modest quarter-point rate cut this month, while softer numbers might encourage speculation of a larger 50-basis-point move.
