The crypto market opened the new week with a slow but steady lift, as Bitcoin climbed back toward the $113,000 mark after dipping into the high $109Ks over the weekend. It’s not a breakout, but it’s not a breakdown either — more like the calm before a decision.
Ethereum is following the same rhythm, trading just above $4,100, while major altcoins are split between modest gains and mild hesitation. Solana, XRP, and Dogecoin are inching higher but without conviction, suggesting traders are participating — carefully — rather than betting big.
What’s helping today’s tone is a slight pullback in the U.S. dollar, which has been one of crypto’s biggest headwinds lately. A softer dollar typically gives risk assets more breathing room, and Bitcoin is taking advantage — though still hesitating below its key resistance band around $116K–$117K. That level has now become the market’s psychological “prove it” zone. Until Bitcoin breaks above it and holds, traders are treating every move higher as temporary.
On the other side, support around $110K–$111K has held multiple times this month. A lot of leveraged longs have already been flushed out, which reduces the chance of a sudden liquidation cascade — at least for now.
Beyond price, eyes are also on Washington today, where the SEC and CFTC are holding a joint discussion on crypto oversight. There’s no expectation of immediate policy, but tone matters — even a hint of unity between regulators could improve long-term sentiment.
For now, the market feels like it’s leaning bullish, but with one foot hovering over the brake pedal. Traders want to believe in an October run — they just need Bitcoin to give them a reason.
Disclaimer
This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile and influenced by macroeconomic conditions and regulatory developments. Always conduct your own research or consult a licensed advisor before making investment decisions.
