TA Tuesday: Bitcoin Leads the Charge

 

Week-over-week performance:   

  • BTCUSD: 85,247 / +9.8% 
  • ETHUSD: 2,726 / +9.2% 
  • US10Y: 4.98% / -3 bps 
  • DXY: 100.45 / +0.83% 
  • Gold (USD/oz): 4,319 / +0.65% 
  • SPX: 7,764 / +1.9% 
  • NDX: 30,482 / +4.65% 
  • VIX: 14.86 / -13%

Looking ahead – economic calendar: 

  • Wednesday, 23 September 2026: US Crude Oil Inventories 
  • Thursday, 24 September 2026: SNB Interest Rate Decision, US Initial Jobless Claims

On the macro side:

Risk assets continue to attract buyers, with tech leading the advance. 

The NASDAQ 100 is now just 1% away from its all-time high, and so is the S&P 500. The strength in equities comes despite a 25 bps Fed rate hike and oil prices holding around USD 100/bbl, highlighting the resilience of the current risk-on environment. 

With both the Clarity Act and the latest FOMC meeting now behind us, the near-term calendar is relatively light. Market attention is increasingly shifting toward developments in US-China trade negotiations. For now, we believe momentum remains firmly intact.

On the crypto side:

BTCUSD finally broke through the USD 80,000 level in convincing fashion.

Importantly, the move has been accompanied by only a modest increase in open interest, suggesting that buying remains predominantly spot-driven rather than leveraged. 

Meanwhile, Saylor added to his Bitcoin holdings once again, while STRC continues to trade close to par at USD 98.92. Overall positioning and market structure remain supportive. From a technical perspective, USD 84,300 should act as initial support, while USD 87,300 represents the first area of resistance. 

Beyond that, the USD 90,000-95,000 region remains the key zone to watch as participants increasingly position for a potential breakout. 

The picture is similar in ETHUSD, which is currently testing the important USD 2,700 level and looking for a catalyst to reclaim USD 3,000. On the downside, support appears less well defined, with the USD 2,400-2,500 area expected to provide the first meaningful cushion.

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