Crypto update: BTC holds above $111k, ETH trades sideways; altcoins mixed

Market analysts attribute the the cautious optimism to a balance between consolidating price action and renewed corporate activity

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Flagship cryptocurrency Bitcoin (BTC) held steady around the $111,000 level on Monday, September 8, supported by strong network fundamentals and ongoing institutional interest. Ethereum (ETH) also maintained a foothold above the $4,200 mark, while altcoins displayed broadly positive momentum amid mixed market conditions. Market analysts attribute the cautious optimism to a balance between consolidating price action and renewed corporate activity.

Bitcoin price today

At last check, Bitcoin was trading at $111,134.9, marking a 0.52 per cent increase over the past 24 hours. The daily trading volume surged to $28.6 billion, while its market capitalization remained steady at $2.21 trillion, securing Bitcoin’s position as the largest cryptocurrency globally. The day’s price action ranged between $110,501 and $111,591, according to CoinMarketCap.

 

From a technical perspective Vikram Subburaj, CEO, Giottus, said, The attention is on whether bulls can clear resistance at $112,000–$113,000. ETF outflows and reduced treasury accumulation continue to weigh. Average deal sizes have dropped nearly 86 per cent from early 2025 highs and this signals tighter liquidity and more cautious positioning.

 

"Support is firm near $110,000, while the 50-day moving average at $115,000 caps the upside. A daily close above $113,000 would reset momentum but any slip below $110,000 could open the way for a deeper retest," said Subburaj.

 

Meanwhile, according to the CoinDCX research team, though the Bitcoin price rose briefly before the weekly close, it failed to break through the pivotal resistance. Meanwhile, the weakness of the bears is also failing to drag the token lower, and as a result, it continues to consolidate around $111,000.

 

In further development, the Tether CEO Paolo Ardoino denies rumors of the company selling Bitcoin for gold, saying, ‘We buy both and hold both.’ Besides, Metaplanet bought another 136 BTC worth $15.2M, bringing a total of 20,136 BTC worth $2 billion in its treasury. Meanwhile, Bitcoin treasuries are now holding over 840,000 BTC, and hence this steady accumulation from the companies is expected to add a layer of long-term support for the BTC price. 

Ethereum trade sideways, other altcoins mixed

Ethereum on the other hand was facing some resilience. Last check it was quoted trading at $4,293, down 0.21 per cent over 24 hours, with trading volume at $20.99 billion. The asset fluctuated within a narrow range between $4,271 and $4,334 during the same period.  Ethereum, at current levels, Ryan Lee, chief analyst at Bitget, believes, stands to benefit from the same dynamics driving broader market trends.  “If ETF-driven demand holds, ETH could rise toward $4,100 to $4,600, reflecting a broader recovery across major altcoins," Lee said. "Its performance may also diverge due to network-specific upgrades and DeFi-related catalysts, which could add an independent layer of momentum alongside Bitcoin’s influence.”

 

Among altcoins, Worldcoin (WLD), SPX6900 (SPX), Dogecoin (DOGE), Hyperliquid (HYPE), Pudgy Penguins (PENGU), Bonk (BONK), Four (FORM), Zcash (ZEC), Virtuals Protocol (VIRTUAL), and Polkadot (DOT) were the day’s top gainers, posting gains of up to 27 per cent. Conversely, the biggest losers included World Liberty Financial (WLFI), OKB (OKB), MemeCore (M), Cronos (CRO), Conflux (CFX), Bitcoin Cash (BCH), Sky (SKY), POL (POL), Litecoin (LTC), and Aave (AAVE), falling as much as 12 per cent.