The Bitcoin Bottom Is Looking More Convincing | Trading The Markets: Septmeber 2, 2026

The episode focuses on the current state of the Bitcoin market, highlighting a significant achievement with Bitcoin closing above both the 10-month and 20-week moving averages. Chris Bullock notes that while the market did not start the week strongly, it ended on a high note, achieving the highest monthly close since the bear market began. He suggests that while the low may be in, there could still be dips into the 70,000 range, and a solid close above 83,000 would signal the start of a new bull market.

Another speaker expresses confidence that the bottom is in and advocates for dollar-cost averaging (DCA), while also warning of the possibility of a retest of major moving averages. They predict that significant market movements could occur in October, especially if Bitcoin starts closing above the 83,000 level, which may lead to a more aggressive DCA strategy.

The performance of various altcoins is also discussed, with Solana showing strength and Uniswap benefiting from recent meme coin activity. Curve continues to perform well as a legacy DeFi token, while the meme coin sector thrives. Monero is on the rise, and Arbitrum is capturing fees from Robinhood transactions, indicating a resurgence of DGENs and potential continuation of uptrends.

Market dynamics reveal that Robinhood is influencing many charts, with its stock in an uptrend since early August. However, the speakers caution that buying Robinhood stock does not directly correlate with on-chain activities. They recommend focusing on building positions in assets with strong fundamentals rather than chasing meme coins.

Bitcoin's price remains steady but has not surpassed its recent weekly close, while Ethereum has faced rejection at its 200-week moving average. Hyperliquid and Athena are showing strength, with Athena breaking above its 200-week moving average. Chainlink is noted for its relative strength, although its recent performance may be driven more by speculation than by fundamentals. The episode also mentions Nier and Aave, both of which have given back some of their recent gains.

XRP is holding a horizontal support level established long ago, but two consecutive red weeks raise concerns about its stability. While XRP serves primarily as a utility token for interbank transactions, it is not directly comparable to Canton, which is designed for large banking institutions. PONS has surged 415% last week and an additional 24% today, but purchasing it now carries significant risk due to its overextended position. Morpho shows a nice uptrend compared to other assets, although its recent recovery has been unimpressive. BitTensor and Tron are both rolling over, indicating potential declines.

The Bitcoin bottom appears more convincing, but buying now carries risks of overextension and possible correction. DRV has shown relative strength and has been in a solid uptrend since April, while Galaxy has bottomed out and is trending upward on the weekly timeframe, likely to perform well if the crypto market remains bullish. Hype is in price discovery, having set a second all-time high, with expectations of increased market activity once it becomes legal in the U.S. The integration with Kraken is anticipated to enhance user experience and boost adoption.

However, the market environment for miners and AI compute providers remains challenging, necessitating close monitoring of trends and announcements. Chris predicts that the market will likely continue to experience sideways movement for another week or two, influenced by a tighter financial macro environment affecting rates and bond yields. He expects the current price action to remain dull in the near term, suggesting that there are easier investment avenues than those in the current landscape of miners and AI compute providers.