The past night was rich in events: bitcoin made a powerful surge, the prediction platform Polymarket launched leveraged trading, and the IMF shed light on El Salvador's BTC purchases. At the same time, a landmark reshuffle occurred in the DeFi sector that could change the balance of power in the Curve ecosystem.
Bitcoin and the market: upward momentum
The leading cryptocurrency demonstrated impressive dynamics, rising 4.13% in 24 hours. At the time of analysis, BTC was trading near the $80,895 mark, with the price breaking through a range from $77,200 to $81,800 during the upward move. Ether (ETH) also strengthened, gaining 4.33% and reaching $2,506, after quotes climbed from $2,380 to $2,525.
The upward wave swept across nearly the entire top 25: the growth leaders were Zcash (+15.62%), Uniswap (+9.99%), and Cardano (+6.79%). XRP rose 5.72%. In the broader top-100 list, Pons (+32.16%) and Dash (+16.02%) stood out. Only a few ended in the red: Monero fell 2.09%, while Filecoin lost 5.74%.
The inflow of funds into spot crypto ETFs confirms institutional sentiment: bitcoin funds attracted $730.87 million, while Ethereum products brought in $141.39 million. The Fear and Greed Index jumped to 74 points, returning to the "greed" zone, although just a month ago it stood at 27 points, corresponding to extreme fear. This shift in sentiment led to $537.28 million in liquidations, with the main blow hitting short positions ($456.46 million), indicating the strength of the bullish momentum.
Polymarket expands horizons, Fidelity urges caution
The prediction platform Polymarket announced the launch of Polymarket Perps — a service with perpetual contracts and leverage of up to 20x. Trading will be available for cryptocurrencies, stocks, commodities, and other assets, but access for US residents will be restricted.
At the same time, Fidelity analysts advise against rushing to conclusions about the end of the bear cycle. The August rally is not sufficient evidence of a trend reversal. Among the factors that could radically change the situation, they highlight exiting the low-volatility period, regulatory developments (including the CLARITY bill in the US Senate), and increased activity from institutional players. Some investors still look toward November 2026, adhering to the four-year cycle theory.
El Salvador and the IMF: clarity on bitcoin purchases
The International Monetary Fund confirmed that El Salvador has not used state funds to purchase bitcoin since June 27, 2025. All accumulated coins came exclusively from private donations, and the fund does not expect further increases in reserves beyond documented volumes. This statement came after the approval of the second and third reviews of the EFF program, opening access to additional financing of approximately $140 million for the country.
Curve DAO: new faces at the helm of risk
The Curve DAO community approved funding for the yRisk team, which will take over risk management for the crvUSD stablecoin and the Llamalend protocol. Notably, both yRisk members are lead developers of the Resupply protocol, which lost approximately $9.6 million in a June hack. During the vote, holders of 536.9 million veCRV supported the proposal, with no votes against.
Expert commentary: The launch of Polymarket Perps is a serious bet on synthesizing prediction markets with classic trading, which could attract a new audience. However, Fidelity's caution seems justified: the current growth is not yet backed by a fundamental breakthrough, and the market will need to consolidate above key levels before we can talk about a shift in the global trend.