Bitcoin Rebounds as China Growth and Nasdaq Futures Pick Up
The rebound comes alongside higher Nasdaq futures after stronger-than-expected Chinese growth. Altcoins and DeFi tokens are also outperforming Bitcoin.
Key Takeaways
- Bitcoin is trading around $82,500 and is up about 0.5% since midnight UTC after recovering from the drop to $80,700.
- Altcoins outperformed Bitcoin, with gains for Ether, Solana, XRP, and BNB, while Cardano slipped slightly.
- Nasdaq 100 futures rose more than 1% after stronger-than-expected Chinese growth, while derivatives volume and liquidations stayed high.
Bitcoin is trading around $82,500 (€73,300), putting it about 0.5% higher since midnight UTC. The price is continuing to recover after Sunday’s dip to around $80,700 (€71,700) and remains well above Thursday’s brief drop below $80,000 (€71,100).
Altcoins Take the Lead
Altcoins did better than Bitcoin. Ether was at $2,421.65 (€2,150) and gained 0.75%, while the CoinDesk 80 rose 0.9%, nearly three times the 0.35% gain in the Bitcoin-heavy CoinDesk 5. Within that broader move, DeFi tokens led the way, rising 0.81% with green prices across all six members of the DFX sector index.
Solana, XRP, and BNB also posted gains, while Cardano edged lower. That fits a market where the biggest coins are recovering, but smaller tokens sometimes move faster than Bitcoin. The broader crypto market has also shown a similar pattern over the past few days, with a quick return above $82,000 after the price briefly fell below $80,000 (€71,100).
Support From the Stock Market
The rebound came alongside a recovery in the U.S. futures market. Nasdaq 100 futures rose more than 1% on Monday after China’s economy grew 4.5% in the third quarter, beating expectations. That news followed a weak week for U.S. tech, where the Nasdaq fell 4.5%, its worst week since June.
For crypto, that matters because the market has clearly been moving with tech stocks and risk sentiment in recent weeks. Broader worries about AI spending, debt, and the fragility of global growth are also still in the background, especially with big names like Meta Platforms and Tesla reporting earnings this week.
Derivatives Stay Busy
Trading stayed active in the derivatives market. 24-hour futures volume rose 51% to $146 billion (€130 billion), while open interest increased just 1.25% to $141 billion (€125 billion). That suggests traders were churning through a lot of contracts without building many new net positions.
Liquidations came in at $329 million (€292 million), about the same as a day earlier. That kept the balance between longs and shorts fairly neutral, although the numbers do show that the recent move higher is being driven more by positions and less by broad spot buying.
