Bitcoin Bounce Back from Support at $111.8K, Altcoins Dey Rally
Bitcoin don bounce back 1.22% inside 24 hours go reach $114,738, after e drop from $119,000 for July 31 go down reach low $111,800 for weekend. Altcoins sef recover: Ethereum gain 3.12% go $3,549, XRP jump 6.32% go $3.00, and Solana climb 1.66% go $163.69. Analysts talk say last week sell off na because of 'risk-off' mood after US nonfarm payrolls only increase by 73,000 for July, e no reach expectations. Presto Research Min Jung talk say weak jobs data plus falling US stocks make people take profit. BTSE COO Jeff Mei look the pullback as short time thing, with institutional buyers stepping in. Kronos Research Vincent Liu notice say Fear & Greed Index don shift go 'greed' and e point to upcoming US CPI data plus SEC’s “Project Crypto” as possible reasons wey fit make market continue to rise. This kain resilience show say market outlook dey cautiously optimistic.
Bullish
Dis news dey bullish. Quick rebound from di critical support level for $111.8K show say buyers get confidence well well, especially among institutions dem. Similar drop for key US jobs data before don plenty times lead to recoveries as investors dem dey ‘buy di dip’. Di rally for Ethereum, XRP and Solana show say di market strong well well. Upcoming US CPI figures plus di SEC’s “Project Crypto” still get potential catalysts. For short term, traders fit continue to buy when market weak, while better long-term prospects dey with clearer regulation plus steady institutional demand wey dey support sustained upside.