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Bitcoin is holding firm above $80,000, prompting renewed bullish calls from crypto commentators who argue the recent bounce is more than a short-term relief rally. According to an expert, the setup points to further upside rather than a retest of the $58,000 lows some traders had feared.
Why Bitcoin Is Holding Above $80,000
- The CLARITY Act vote is scheduled for September 15
- The Department of Labor is preparing to open the $10 trillion 401k market to crypto exposure
- An estimated $176.8 trillion currently sits with Registered Investment Advisors who cannot yet access spot crypto, with the SEC having filed to change that
- Coinbase has introduced Bitcoin-backed mortgages, letting buyers access home financing without selling their holdings
- The Treasury’s ongoing bond buybacks are seen as capping yields and softening the dollar, a backdrop the host linked to renewed risk appetite
- Strong earnings from Nvidia and Salesforce added to broader risk-on sentiment in software and tech markets
The expert set a short-term Bitcoin target of $83,000 to $84,000 in the coming days, framing the run-up to the CLARITY Act vote as a period where he expects continued upward pressure, while acknowledging the vote itself could still trigger a sell-the-news reaction.
Altcoins Gaining Momentum Alongside Bitcoin
Several altcoins posted moves during the same session:
- Hyperliquid hit a new all-time high, with the host maintaining a long-term view that the token trades above $100 eventually
- Solana traded in the $105 to $107 range, with the network’s validators weighing tokenomics changes aimed at reducing emissions
- Zcash rose 6%, while Near Protocol gained 5% and Towo climbed 10%
- Pump.fun held near $0.005, after adding roughly $100 million in total value locked over the past week
Two Under-the-Radar Names the Host Is Watching
Beyond the majors, the analyst pointed to two smaller tokens showing strength after steep earlier drawdowns:
- Lighter (LIT), which he said he opened a long position on at $3.35, was trading at $3.64, up 36% over the week
- Bittensor (TAO) climbed from around $190 to $252 after falling as low as $190 roughly ten days earlier
- He also said that Near Protocol could be the next AI token to run.