Trading Desk Insights
Crypto put up a strong weekend performance, led by BTC climbing roughly 5% from $101.5K to $106.5K through Asia open. The move came as traders positioned ahead of potentially market-friendly headlines out of Washington, where Senate lawmakers took a key step toward ending the historic U.S. government shutdown. The proposed deal would reopen the government through January, reverse parts of the recent mass layoffs, and include new job protections for federal workers. A final Senate vote still needs to happen, followed by approval in the House, but markets clearly liked the progress. Optimism was also boosted by a post from President Trump pledging a $2,000 “dividend” to low-income Americans funded by trade tariff revenues, echoing the 2021 stimulus payments that kicked off the last big altcoin mania.
Even with that backdrop, BTC ETFs saw their third-largest weekly outflow on record, suggesting that institutional flows remain mixed despite the broader market bid. Yet price resilience has improved. The $98K to $100K area continues to hold as a sturdy base, with risk/reward now tilting favorably for spot buyers after two failed attempts to break lower. Crypto held firm Friday even as U.S. equities stayed soft, a reversal from the lagging pattern we’ve seen for much of the past month. That bounce looks notable given steady OG selling and ongoing ETF redemptions. On the derivatives side, risk reversals are less skewed toward puts, showing traders have dialed back fears of another sharp flush.
Alt side was lively too. XRP stole the spotlight after five spot ETFs tied to the token appeared on the DTCC list, stoking hopes of an imminent approval and pushing the coin 6% ahead of BTC on the day. Privacy names kept running, with ZEC up roughly 37% since Saturday, rebounding from $490 to $680 as speculative interest rotated into high-beta plays.
Digital Asset Treasuries stayed quiet, but their influence over market sentiment remains intact. Large holders still dominate direction, and any sign of profit-taking from that cohort could cap upside. For now, BTC’s clean defense of $100K has given treasuries and funds room to re-engage. Still, rallies above $116K will likely meet renewed selling from long-term holders, keeping the medium-term picture biased toward a wide consolidation range rather than breakout mode.
Crypto Charts
ETF Flow
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