Bitcoin price dipped to approximately $83,600 on Friday, marking a 1% decline following an intraday high near $87,000. This movement coincided with the expiration of $15.6 billion in Bitcoin options on the Deribit exchange, which led to a 14.39% drop in open interest and a 13.68% decrease in 24-hour trading volume.
Market liquidations over the last 24 hours reached $161.96 million for long positions and $156.1 million for short positions. Spot Bitcoin ETFs recorded inflows of $299.09 million on Friday. The total cryptocurrency market capitalization currently stands at $2.87 trillion, while the Fear and Greed Index has adjusted to 72.
XRP and Solana showed growth despite the broader market trend. XRP rose 4.37% over the day to trade near $1.58 with a market cap of $99 billion. Solana increased by 3.36% to approximately $119.84, reaching a market cap of $70 billion. Solana is currently preparing for the Alpenglow network upgrade, which aims to reduce transaction finality to 150 milliseconds.
Macroeconomic factors continue to influence market sentiment. Odds for an October interest rate hike have risen to 75% on CME's FedWatch tool and 68.5% on Myriad Markets. Investors are now awaiting the Personal Consumption Expenditures inflation data scheduled for September 30 and the jobs report due on October 2.
