The crypto market dropped about 1% to $2.61 trillion over the past 24 hours as renewed U.S.-Iran military strikes pushed oil toward $90 per barrel and revived inflation concerns. More than $400 million in leveraged positions were liquidated, and a whale deposited 41,000 ETH to exchanges, adding potential sell pressure.
Bitcoin was trading near $78,013, down 0.22%, after bouncing from Fibonacci support around $77,584. Key support sits at $76,400 to $77,000, while resistance starts at $80,000 to $82,000, followed by $82,500. Momentum indicators were mixed, with RSI at 47.64, STOCH at 41.63 and Ultimate Oscillator at 49.31, while MACD remained negative at -74.81. U.S. spot Bitcoin ETFs held $101.42 billion in assets on August 31, up from $79.22 billion a month earlier, showing roughly $22.2 billion in institutional inflows. Bitcoin dominance climbed to 59.71%, close to its yearly high, while the Altcoin Season Index stood at 24.
Ethereum was trading at $2,444, up 1.13%, after defending the $2,400 support zone. Resistance remained at $2,520 to $2,535, with further upside targets at $2,750 to $2,800. A break below $2,400 could expose $2,350 to $2,300. Ethereum developers also drafted a quantum-safe validator deposit contract designed to protect roughly 42.4 million staked ETH, valued at about $104 billion, from future quantum-computing threats. The proposal remains early-stage, with a rough security roadmap targeting 2029.
XRP was trading at $1.36, down 2.54%, with $1.35 acting as main support. Resistance sat near $1.40, then $1.45 to $1.50, while a daily close below $1.35 could expose $1.31 to $1.24. RSI at 39.50 and STOCH at 28.60 put XRP near oversold territory, while MACD remained bearish. Ripple Prime launched a Delta One desk with more than $1 billion in regulatory net capital, accepting XRP as collateral. Additional potential catalysts included Evernorth’s effective Form S-4, its treasury of more than 473 million XRP, a planned Nasdaq listing under XRPN, and a reported ProShares XRP ETF filing.
