Crypto traders are in risk-on mode as bitcoin dominance nears return to 60% — SkimNews
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- Bitcoin climbed 3.4% to above $86,000 ahead of the September nonfarm payrolls report, with ether, XRP, Solana and BNB also gaining but all lagging the leader.
- Bitcoin's dominance approached 60% of total crypto market cap as USDT's share slipped to roughly 6.3%, signaling capital rotating out of stablecoins and into risk.
- BTC open interest rose to $22.4 billion from $20.9 billion, with annualized funding rates spiking to 9-10% on Hyperliquid and OKX — evidence of leveraged longs being added.
- $344 million in crypto liquidations hit over 24 hours (up from $100 million the prior day), split 28/72 between longs and shorts, with Binance's heatmap identifying $87,400 as a core liquidation level.
- Fed October rate-hike odds dropped to 30% from 70% after remarks from New York Fed President John Williams and Vice Chair Philip Jefferson, a dovish shift that supports risk assets.
- Tesseract Group's Oliver Carding flagged a 3% threshold on 10-year real yields — a sustained breach would make a retest of $80,000-$82,000 more likely than a push toward $90,000.
- SKY, AAVE and APT led the top-100 with 7-10% gains, while QNT gave back roughly 15% after a multi-day surge had more than tripled its price.
Why it matters: A strong September payrolls print could push 10-year real yields past the 3% level Carding monitors, dragging bitcoin toward $80,000-$82,000 and unwinding leveraged longs behind $22.4 billion in open interest. A soft print cements the dovish Fed repricing — already cutting October hike odds from 70% to 30% — clearing a path toward $90,000.
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