Crypto bulls on firmer footing as U.S. rate-hike risk recedes
Crypto ended the week in a more buoyant state after weak U.S. jobs data reduced the chances of a Fed interest-rate increase and Uniswap gained on a link-up with Robinhood.
Make preferred on
Share this article
Summary
- Bitcoin recovered to $61,600, up 6.5% from Tuesday’s low of $57,750, after weak U.S. jobs data lowered expectations for a Federal Reserve rate hike and lifted Nasdaq 100 futures by 1.9%.
- Ether dominated the derivatives picture, accounting for $160 million of the $417 million in 24-hour liquidations as heavily bearish positioning was squeezed out, with ETH open interest climbing to its highest since June 10 alongside bullish funding rates and the strongest cumulative volume delta among majors.
- Uniswap (UNI) was the standout altcoin, surging 11% on doubled trading volume after being confirmed as the primary AMM for Robinhood’s layer-2 network, while Solana extended its weekly gain to 17% and AI tokens FET, RENDER and TAO posted modest gains after weeks of selling pressure.
