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▲ Cryptocurrency ©
The virtual asset market is attempting a rebound from last week's lows, stabilizing around $2.87 trillion. With Bitcoin (BTC) confirming support at $82,500 and Ethereum (ETH) continuing its upward trend for seven consecutive weeks, there's a possibility that the market could retest recent highs if risk appetite persists.
According to the investment media FXStreet on September 29 (local time), the total market capitalization of the virtual asset market is around $2.87 trillion, cautiously rebounding from last week's low of $2.83 trillion. However, analysis suggests that it remains in a short-term downtrend technically until it recovers $2.9 trillion. Although the strong US dollar and stock market uncertainties are acting as a burden, the virtual asset market has historically reacted first to changes in investor sentiment, so the possibility of improved risk appetite in traditional financial markets within the next day or two cannot be ruled out.
Bitcoin found support whenever it dipped to $82,500 on Monday evening and early Tuesday, then rebounded to $84,000, returning to its recent 7-day stabilization range. In the short term, the analysis indicates that the previous high's adjustment has significantly alleviated overheating and secured support levels. If bullish sentiment continues, there's a prospect of testing new multi-month highs above $87,000.
Ethereum is drawing attention as an indicator of investor sentiment within the virtual asset market. Having avoided significant corrections and recording an uptrend for seven consecutive weeks, ETH surpassed $2,700 again on Tuesday morning. Last week's high was $2,800, and if the current uptrend continues, there's a possibility of re-entering the $2,800-$3,300 range where prices consolidated from November last year to January this year.
Institutional and corporate buying trends are also continuing. Strategy bought Bitcoin for two consecutive weeks, adding 1,666 BTC at an average of $85,700. This brings its total holdings to 847,666 BTC, with an average purchase price of $75,400. Bitmine also acquired an additional 17,362 ETH last week, securing a total of 6,001,000 ETH. This accounts for 4.92% of the total Ethereum supply, meaning approximately 100,000 more ETH need to be purchased to reach its 5% target.
Funds also flowed into the Solana (SOL) spot ETF. The US Solana spot ETF saw a net inflow of $188 million last week, marking its largest weekly inflow since its launch in October 2025, with cumulative inflows exceeding $1.6 billion. Bitmine Chairman Tom Lee predicts that asset tokenization and AI Agents could be the two key drivers of the next virtual asset market growth cycle. Whether the market can recover $2.9 trillion and Bitcoin can break $87,000 is considered a critical variable in determining if recent highs will be retested.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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