Bitcoin, Ethereum, XRP Fall Together; Analyst Says BTC Not in Bull Market Unless It Bounces Back Quickly

Major cryptocurrencies fell broadly on Monday as geopolitical tensions and rising oil prices dampened risk appetite.

Cryptocurrency 24-hour change price

Bitcoin -0.57% $79,397.43

Ethereum
-0.14% $2,503.39

XRP -0.14% $1.40

Solana -1.10% $104.27

Dogecoin +1.66% $0.09144

Long Liquidations Surge

Despite a 12% surge in trading volume over the past 24 hours, Bitcoin longs are still waiting for a breakout above the $80,000 level.

Ethereum trading activity has also heated up significantly, with the second-largest cryptocurrency by market cap challenging the $2,530 resistance level. Dogecoin stands out, up 1.66% from the previous day.

According to Coinglass data, over $175 million was liquidated across the cryptocurrency market in the past 24 hours, with the vast majority being forced closures of leveraged long positions.

Bitcoin's open interest edged lower over the past 24 hours. Meanwhile, the "smart money" sentiment indicator, which reflects institutional investors' collective expectations and capital allocation trends, shows "extremely bullish." Retail and whale derivatives traders on Binance remain net long.

Top 24-hour gainers

Cryptocurrency gain price

Artificial Inu +41.74% $0.2839

Worldcoin +21.29% $0.4986

BUILDon +19.91% $0.1952

The total global cryptocurrency market cap contracted 0.15% over the past 24 hours to $2.71 trillion.

Dow Futures Slide Sharply

U.S. stock futures were mixed Monday evening. As of 9:25 p.m. ET, Dow Jones Industrial Average futures fell 328 points, or 0.61%. S&P 500 futures slipped 0.12%. Nasdaq 100 futures bucked the trend, posting a 0.24% gain.

Geopolitical tensions continue to weigh on investors, with U.S. Central Command saying it struck three Iranian oil tankers over the weekend after Iran's Islamic Revolutionary Guard Corps fired ballistic missiles at two naval vessels. West Texas Intermediate crude rose 1.11% to $92.50 per barrel.

The New York Stock Exchange and Nasdaq were closed Monday for the Labor Day holiday. Regular trading resumes Tuesday.

Will BTC Test Lows Again?

Influential cryptocurrency analyst and trader Michaël van de Poppe believes the $72,000 to $74,000 range will be a key test for Bitcoin.

The analyst added: "If Bitcoin somehow drops to $72,000-$74,000 and fails to bounce back quickly from that level, we are not in a bull market."

The bounce is interesting, but I personally have no active interest in trading #Bitcoin.

Beyond that, many are asking: will we test the lows again?

The answer is actually simple.

If Bitcoin somehow drops to $72,000-$74,000 and fails to bounce back quickly...

— Michaël van de Poppe September 7, 2026

On-chain analytics firm CryptoQuant noted that unrealized profits for Bitcoin short-term holder whales have reached an all-time high.

CryptoQuant stated: "A group sitting on record paper profits will turn into sellers the moment prices wobble, and historical data shows short-term holder whales are always the fastest to cash out when profits are available."

Short-term holder whale unrealized profits hit a record $9.07 billion

"A group sitting on record paper profits will turn into sellers the moment prices wobble, and short-term holder whales are always the fastest to take profits." — Author @IT_Tech_PL

Link ⤵️

— CryptoQuant.com September 7, 2026