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Bitcoin Retakes $111K as Risk Assets Reverse Off Worst Levels
U.S. stocks opened sharply lower after the three day weekend, but have narrowed those losses.
Sep 2, 2025, 3:01 p.m.
What to know:
- Crypto got off to a strong start in September, led by bitcoin's rise to nearly $112,000.
- The move happened as U.S. stocks shrugged off a panicky open to the month.
- Friday's U.S. employment numbers should go a long way to determining whether and by how much the Fed might cut interest rates later in September.
After a very rough close to the month of August, crypto markets are starting September on a far stronger tone.
The buying got started in force as U.S. traders returned to their desks following the three-day weekend, sending bitcoin to as high as $111,700 versus the $107,500 level seen as September began.
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At press time, bitcoin was changing hands at $111,600, up 2.5% over the past 24 hours. Solana and were ahead similar amounts. Notably lagging was August outperformer ether , roughly flat over the past day.
Stocks shake off panicky start
Likely helping the tone in crypto was a strong bounce in stock markets. Reacting to negative tariff news and a continued rise in global long-term interest rates, major U.S. indices began the month with big losses, including the Nasdaq's 2% decline.
Buyers are stepping in though and roughly 90 minutes after the open, stocks have about halved their early losses.
Economic data on tap
The new month has already seen one important economic report, the ISM Manufacturing Index for August. Coming in at 48.7, the number missed economist forecasts by a hair and showed continued contraction in the U.S. manufacturing sector. The Prices Paid subindex at 63.7 remained perky, but was softer than the 65.3 forecast and 64.8 the previous month, suggesting at least some easing in price pressures.
The big report this week will be Friday's U.S. employment numbers. Strong data is likely to put into some question the Fed's apparent plan to trim interest rates when it meets later this month. A week print, however, might put a 50 basis point cut on the table as opposed to the universally expected 25.
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- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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These Three Metrics Show Bitcoin Found Strong Support Near $80,000
Onchain data shows multiple cost basis metrics confirm heavy demand and investor conviction around the $80,000 price level.
What to know:
- Bitcoin rebounded from the $80,000 region after a sharp correction from its October all time high, with price holding above the average entry levels of key metrics.
- The convergence of the True Market Mean, U.S. ETF cost basis, and the 2024 yearly cost basis around the low $80,000 range highlights this zone as a major area of structural support.
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