Bitcoin (BTC) rose about 3% to trade near $110,203, bouncing back after a turbulent week of losses. The intraday range stretched between $108,721 and $113,600, reflecting heightened volatility across global markets.
Analysts attribute the rebound to improved liquidity conditions, alongside optimism that institutional flows will stabilize the market. Ethereum (ETH), however, diverged by slipping to around $4,383, highlighting the uneven performance within the crypto sector. Experts such as Avinash Shekhar of Pi42 and Vikram Subburaj of Giottus.com noted that traders are beginning to price in stronger liquidity dynamics for BTC compared to altcoins. Still, investors remain cautious, aware that Bitcoin has yet to reclaim levels above $115,000 where resistance remains strong.
Market correction looms after recent rally
Despite Bitcoin’s short-term gains, many analysts warn the market may be heading toward a larger correction. Over the Labor Day weekend, BTC held steady near $108,721, while Ether dropped 0.7%, XRP fell 2.8%, and Solana retreated 1.5%. This pullback follows Bitcoin’s mid-August peak above $124,000, which many analysts saw as overextended.
John Glover, chief investment officer at Ledn, suggested that technical indicators could drive BTC down toward $75,000, though he acknowledged such models are speculative. The possibility of a broader retracement has been reinforced by seasonal patterns, as September historically delivers weaker returns for crypto. While long-term fundamentals remain positive, near-term risks are keeping traders wary of over-leverage.
Altcoin spotlight: Remittix gains traction amid BTC resistance
As Bitcoin struggles to break through the $113,600 resistance zone, investor attention has shifted to alternative projects. One standout is Remittix (RTX), a PayFi altcoin that has raised $22.2 million and recently secured listings on BitMart and LBank. The token has attracted backing from major XRP whales, reflecting strong institutional and retail interest. Its utility lies in facilitating instant, fee-free cross-border crypto-to-fiat transfers, a sector expected to see rapid adoption.
Remittix’s beta wallet is scheduled to launch on September 15, creating anticipation in the market. Meanwhile, XRP itself has stayed relatively resilient at $2.96, supported by whale accumulation and optimism surrounding newly approved U.S. spot ETFs. Altcoins like RTX highlight how investor appetite is shifting even as Bitcoin shows signs of fatigue.
Recently we wrote that Bitcoin (BTC) is currently trading at $110,209.3, marking a daily gain of $2,343.18 or 2.17%.
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