While most market participants were resting, the cryptocurrency industry continued to live its own life, full of landmark events and sharp price movements. Here is a detailed analysis of the market situation as of the morning of September 4.
Market dynamics: bullish momentum is gaining strength
The leading cryptocurrency demonstrated impressive dynamics. Over the past 24 hours, bitcoin (BTC) surged from $77,200 to a local high of around $81,800. At the time of analysis, the asset was trading near $80,895, representing a gain of 4.13% over the day. This move looks particularly confident against the backdrop of the broader market recovery.
The second-largest cryptocurrency by market capitalization — Ethereum (ETH) — also showed positive dynamics, rising 4.33% to $2,506. The asset's quotes climbed from $2,380 to $2,525, indicating a return of buyer interest in altcoins.
Leaders and laggards: who is driving the market
The wave of growth swept across nearly the entire top-25 crypto assets. The strongest upward volatility was demonstrated by Zcash (ZEC) with a gain of 15.62%, Uniswap (UNI) — 9.99%, and Cardano (ADA) — 6.79%. XRP also posted a solid rise of 5.72%. The only notable exception was Monero (XMR), which corrected by 2.09%.
Among the top-100 assets, Pons (PONS) stood out, soaring 32.16%, while Dash (DASH) added 16.02%. At the same time, Filecoin (FIL) became the main laggard, losing 5.74% of its value.
Institutional interest and market sentiment
The key driver of growth was strong inflows into spot bitcoin ETFs, which attracted $730.87 million over the day. Ethereum-based products also delivered a solid result — $141.39 million, while Solana and XRP funds added $6.40 million and $6.14 million, respectively. This is a clear signal of the return of institutional money.
The Fear and Greed Index jumped to 74 points, firmly settling in the "greed" zone. For comparison, just a month ago the indicator stood at 27 points, corresponding to extreme fear. The shift in sentiment has been rapid.
Overnight events: new products and important statements
The prediction platform Polymarket announced the launch of Polymarket Perps, offering perpetual contracts with leverage of up to 20x. Trading will be available to users outside the United States where permitted by local law. This is a step that could significantly expand the platform's audience.
Meanwhile, Fidelity is cautioning against excessive optimism. The company's analysts emphasize that August's bitcoin rally is not unequivocal proof that the bear cycle has ended. Some investors adhering to the four-year cycle theory expect a reversal only in November 2026. Among the factors that could change the situation, they highlight an exit from low volatility, regulatory clarity, and the arrival of institutional players.
The International Monetary Fund (IMF) confirmed that El Salvador has not used government funds to purchase bitcoin since June 27, 2025. All coins accumulated since the first review of the EFF program were received exclusively as private donations. The fund does not expect further accumulation beyond the documented amounts.
The Curve DAO community approved funding for the yRisk team, which will handle risk management for the crvUSD stablecoin and the Llamalend protocol. Notably, both members of yRisk are lead developers of the Resupply protocol, which lost approximately $9.6 million in a hack in June 2025. However, this fact was not mentioned in the proposal — the vote passed unanimously: 536.9 million veCRV "for" with zero "against."
My comment: The return of the Fear and Greed Index to the "greed" zone in just one month is an extremely telling signal. However, with such sharp moves, one should always remember the risk of a correction. I advise investors not to succumb to euphoria and to closely monitor support levels near $80,000. The market remains highly sensitive to macroeconomic news, and the current momentum may be only a temporary phenomenon.