Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
Bitcoin got absolutely nowhere. Spent the entire weekend bouncing between $79K and $81.4K before giving up and dropping 1.3% since midnight
Written by:
Sophia Cruz•Monday, September 7, 2026•2 min read
•Last updated: Monday, September 7, 2026
Bitcoin got absolutely nowhere. Spent the entire weekend bouncing between $79K and $81.4K before giving up and dropping 1.3% since midnight UTC. Nasdaq futures climbed 0.3% while crypto sat there doing nothing. Classic divergence nobody wants to see.
Altcoins had their moment though. Over the weekend TAO, KAS, ICP, and TIA all ripped 12% or higher. Bittensor hit $266 on $568 million volume. The rally looked real until midnight hit. Now TAO’s up 0.4%, LINK up 1%, NEAR down 1.5%. The bid just evaporated.
Here’s what killed it. Capital’s exiting crypto futures hard. Bitcoin OI dropped to 670K from 709K on Friday. That’s the lowest since March 23. Annualized funding rates are tanking toward zero, losing their bullish bias. Went from 8-10% recently to basically nothing now. When funding rates die, leverage players close positions. That means selling.
XRP looks even worse. Open interest cooled to 2.29 billion tokens, lowest since Aug 7. Price got choppy between $1.35 and $1.45. People are getting tired of holding.
The derivatives picture shows bears now control 51.6% of taker buy-sell flow. That’s a flip from Friday when bulls were still bidding. Options markets show $78K and $80K puts as the most popular bets expiring Sept 25. Translation: people hedging downside hard.
Jupiter got absolutely crushed, down 9% to $0.2514 with no obvious reason. The Solana DEX token’s been under pressure since breaking $0.33 support back in November.
Smaller coins like WLD are actually the only ones holding a bid. Open interest there jumped 11% alongside a 13% spot price move. That’s a combo that usually confirms uptrends. WLD has the highest 24-hour OI-adjusted CVD among smaller tokens, meaning buyers actually showed up as aggressive market-order takers.
The narrative is capital exit. Iran-US tensions escalating, Fed rate hike fears coming back, whatever. Excuses don’t matter when money’s leaving. Funding rates dying, open interest crashing, puts dominating options markets – all screaming the same thing. Leverage is gone, conviction is gone.
Bitcoin needs to break $81.4K decisively to flip the script. Until then it’s just grinding lower on a Monday when nobody even cares because the market’s closed. That’s the worst kind of price action – getting buried when volume’s thin and nobody’s around to defend.
Altcoins got their weekend pump
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
- Read our latest reviews on: Avatrade, Exness, HFM and XM
ABOUT THE AUTHOR
See More
Sophia Cruz
Financial Writer – Asian & European Desks
Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.
Source: www.fxleaders.com