Bitcoin has moved decisively above the resistance level that had limited its advance in late August, while privacy-focused cryptocurrencies posted some of the market’s strongest gains.
BTC was trading around $81,060 on Friday morning, down 0.22% since midnight UTC, after reaching $81,309 overnight. The move took Bitcoin above the level that had capped its rally in late August.
The broader market was also firmly in positive territory. Ether gained 4.52% over the past 24 hours, XRP rose 5.58% and Solana advanced 3.04%. Crypto liquidations totaled $318.6 million, according to Coinalyze.
Privacy tokens were among the biggest winners. Zcash jumped 16.55% over 24 hours, while Monero gained 5.89% and Dash surged 19.24%. None of the moves appeared to be linked to a clear, immediate catalyst.
Gold rose 0.17% to $4,480 and silver added 0.25% to $67.11. The dollar index was little changed at 99.063, while Nasdaq 100 futures climbed 0.42%.
Futures Positioning Turns More Bullish
Bitcoin’s futures market is showing a modest shift toward bullish positioning. The long-to-short taker volume ratio stood at 51.4% versus 48.5%, suggesting buyers were slightly more aggressive as BTC moved firmly above $80,000.
Takers execute trades against existing orders in the order book, consuming available liquidity.
Dash posted one of the strongest combinations of price and derivatives activity. The token was up about 25% over 24 hours at $53.10, while open interest increased roughly 20%. Rising open interest alongside a climbing price typically points to new positions entering the market and supports the ongoing uptrend.
DASH also showed positive funding rates and a positive normalized cumulative volume delta over the same period. Funding remained around 10%, indicating that the rally had not yet reached overheated levels.
Zcash displayed a similar setup. The privacy coin was the second-best performer over 24 hours, while its open interest, CVD and perpetual futures indicators also pointed to bullish positioning without clear signs of excessive leverage.
TRON presented a different picture. Annualized perpetual funding rates for TRX fell to -59% after remaining negative for most of the week, aside from a brief recovery to around -20% on Thursday.
The increasingly negative funding suggests short positions are becoming crowded. Traders holding bearish positions are effectively paying to maintain them, making TRX a token worth monitoring if the squeeze continues.
Bitcoin Futures See Fresh Interest
Bitcoin futures open interest rose to roughly 709,000 BTC from about 687,000 BTC a day earlier. While the figure remains within the range seen over recent weeks, the increase alongside BTC’s break above $80,000 suggests new capital may be entering the market.
Positive funding rates and a positive OI-adjusted 24-hour CVD indicate that much of the new positioning is tilted toward the upside.
Ether futures showed a similar, though modest, increase in open interest. Solana and XRP, however, have yet to see comparable growth in futures positioning despite their recent price gains.
Solana’s open interest has remained largely unchanged over the past 24 to 48 hours even after SOL moved above $100. XRP is showing a similar lack of momentum in derivatives activity.
Volatility Remains Relatively Low
Bitcoin’s 30-day implied volatility index, BVIV, remained near 40% after retreating from an August spike toward 50%. The decline suggests traders are pricing in relatively calm conditions.
That trend is also visible in traditional markets, where the VIX is around 14%, its lowest level since January.
Lower volatility and subdued fear can create a supportive backdrop for further gains, while ether’s volatility indicators are signaling a similar environment.
Options activity is also leaning bullish. Bitcoin’s 24-hour options volume was dominated by calls, with the $80,000 call expiring Sept. 25 among the most active contracts. Trading was concentrated around strikes between $85,000 and $95,000.
Ether options showed a comparable preference for calls, with the $2,800 call expiring Sept. 18 ranking as the most actively traded bet.
Pons, Zcash and Dash Extend Gains
Pons continued its extraordinary weekly run, climbing 31.50% over 24 hours to $0.6607 and extending its seven-day gain to 379.33%. Trading volume reached $151 million, while the Robinhood Chain launchpad token has added more than $100 million to its market capitalization this week.
Zcash rose to around $967, gaining 16.55% over 24 hours and 22.21% over seven days. Its open interest jumped 38.72%, while funding turned negative at -0.0118%, meaning short traders are paying to maintain their positions even as ZEC rises.
Dash gained 19.24% over 24 hours to $50.66 and was up 6.91% since midnight, bringing its weekly advance to 30.52% on $204 million in trading volume.
Monero added 5.89% to reach $544 and was up another 3.82% since midnight. Its seven-day gain stood at 16.03%, extending a steady climb with few meaningful interruptions.
Uniswap also continued its recovery, gaining 9.84% over 24 hours to $6.34 and 36.94% over the week, reversing much of Thursday’s sharp decline.
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