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The period from September 2 to September 8 was volatile but ultimately constructive for the crypto market. After beginning the week near $77,000, bitcoin benefited from a temporary improvement in sentiment and reached $82,164, its highest level in more than three months. It was trading near $78,300 on September 8, representing a gain of approximately 1% over the period. The pullback from the weekly high therefore erased part of the advance without taking the price below its starting area.
The main catalyst for the rally was a speech by Federal Reserve Governor Christopher Waller. He expressed openness to keeping interest rates unchanged in September if the next data confirmed an improvement in inflation. His comments pushed bond yields and the U.S. dollar lower, allowing bitcoin to temporarily move above $80,000 and triggering substantial liquidations of short positions.
The U.S. employment report released on September 4 quickly tempered that optimism. The American economy created 162,000 jobs in August, well above expectations of approximately 56,000, while the unemployment rate remained at 4.1%. June and July employment figures were also revised upward by a combined 55,000 jobs. This strength reduces the need for the Federal Reserve to ease policy and brought the implied probability of a September 16 rate increase back to approximately 60%.
The yield on the ten-year U.S. Treasury consequently moved back toward 4.8%. Brent crude simultaneously approached $100 per barrel because of tensions in the Middle East. High real interest rates and more expensive energy remain obstacles for risk assets, but bitcoin’s ability to stay above $77,000 despite this environment is an encouraging indication of underlying demand.
That demand was clearly visible in spot Bitcoin ETFs. During the three available U.S. trading sessions between September 2 and September 4, the funds recorded approximately $1.01 billion in net inflows. The September 3 session alone produced $730.8 million in inflows, the largest amount since January. Markets were closed for Labor Day on September 7, and September 8 flow data was not yet available at the time of writing.
Ethereum also advanced, rising from approximately $2,418 to $2,471, a gain of just over 2%. It briefly moved above $2,500 before giving back part of its advance. Ethereum ETFs recorded approximately $119 million in net inflows during the three available sessions despite a $48 million outflow on September 2. The recovery in flows and the price’s stability above $2,400 suggest that institutional interest remains present.
From a technical perspective, the $77,000-to-$78,000 area remains bitcoin’s first support. A sustained break could bring the price back toward $75,000 and then $72,000 to $74,000. On the upside, bitcoin will need to reclaim $80,000 and move decisively above the $82,164 high. Such a move would reopen a path toward $85,000. For Ethereum, $2,400 is the immediate support, followed by $2,300, while $2,500 and $2,600 represent the main resistance levels.
Solana remained stable, moving from approximately $100 to $103 despite modest net outflows of $4.9 million from its ETFs during the three available sessions. Holding above $100 remains constructive, while the upcoming v1 transaction-format upgrade is expected to raise the maximum transaction size from 1,232 to 4,096 bytes, making it easier to accommodate zero-knowledge proofs, complex multisignature arrangements and batched operations. Mainnet activation nevertheless remains pending. ZEC was once again one of the market’s strongest assets, rising from approximately $816 to $1,150, a gain of close to 40%, after temporarily moving above $1,200. Grayscale’s ZCSH ETF reached approximately $463 million in assets, while voting on the scope of the NU7 upgrade continues until September 14. The move confirms a significant revival of interest in Zcash, although its speed and the high level of leveraged positioning increase the risk of a correction. The Rivemont Crypto Fund holds both Solana and ZEC in its portfolio.
On the regulatory front, the U.S. Senate is scheduled to begin an important step in the CLARITY Act process on September 15. The legislation seeks to better allocate responsibilities among the main regulators and clarify the status of digital assets. Passage is not guaranteed, but its progress represents a potentially favourable development for the industry. Coinbase also filed documents with the Securities and Exchange Commission to offer equity perpetual contracts to U.S. investors. The product will also require approval from the Commodity Futures Trading Commission. This initiative illustrates the growing convergence between crypto infrastructure and traditional financial markets.
In summary, the market moved through another week of significant volatility without undermining its recent structure. Bitcoin and Ethereum ended the period higher, Bitcoin ETFs attracted more than $1 billion, and several technological and regulatory developments continue to support adoption. The relatively contained reaction to the strong employment report and higher bond yields is particularly encouraging.
The next several sessions will be dominated by U.S. inflation data, the CLARITY Act vote process and the Federal Reserve’s September 16 decision. Elevated inflation or another increase in oil prices could maintain pressure on risk assets. Conversely, bitcoin’s ability to defend the $77,000-to-$78,000 region ahead of these events would preserve a constructive setup and could prepare the market for another attempt above $82,000.
The presented information is as of September 8th, 2026, unless otherwise indicated and is provided for information purposes only. The information comes from sources that we believe are reliable, but not guaranteed. This statement does not provide financial, legal or tax advice. Rivemont Investments are not responsible for any errors or omissions in the information or for any loss or damage suffered.
