By Omkar Godbole (All times ET unless indicated otherwise)
The week is off to a positive start with bitcoin (BTC) up more than 1% at $89,800, approaching the upper end of the recent week-long range play between $85,000 and $90,000. Overhead supply between $92,000 and $95,000 remains a key hurdle to beat for the bulls, according to BRN.
This week’s U.S. economic calendar is light but relevant, with third-quarter U.S. gross domestic product (GDP) and consumer confidence reports on Tuesday, followed by jobless claims on Wednesday.
These figures could influence investors’ risk sentiment, although year-end holidays could keep market liquidity thin, leading to erratic price moves. On Friday, BTC and ETH options worth $27 billion are set to expire on Deribit, with positioning leaning bullish ahead of the event.
Some analysts remain cautious despite the price bounce.
“The short-term positive momentum may be misleading, and the broader picture of disappointment compared to hopes at the start of the year should not be overlooked,” Alex Kuptsikevich, chief market analyst at the FxPro said in an email.
“Bitcoin is 30% below its peak and trading at a level lower than it was at the beginning of 2025. Attempts to bring YTD momentum to zero are little consolation in this context,” he added. The largest cryptocurrency started the year around $93,400, CoinDesk data show.
In the broader market, tokens like HYPE, KAS, SKY and NIGHT have gained 4% to 6% in 24 hours while major altcoins such as XRP, ETH, and SOL are trading mixed. The CoinDesk 20 and CoinDesk 80 indexes are little changed.
Uniswap’s UNI token is down over 1% as voting starts on a proposal to activate the protocol fee switch and turn the token into a value-accruing instrument. Voting has been overwhelming in support of the protocol.
In traditional markets, gold hit a record high $4,420 as longer dated bond yields in Japan continued to rise, highlighting fiscal concerns. The dollar index fell back slightly to $98.48, erasing Friday’s gain. Stay alert!
Read more: For analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today
What to Watch
For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.
* Crypto
* Macro
* Earnings (Estimates based on FactSet data)
Token Events
For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.
