Celestia leads altcoin gains as Bitcoin holds steady near $82,100
Altcoins surge while Bitcoin holds near $82,100
Altcoins are outpacing Bitcoin on Thursday, with Celestia jumping 16% and leading gains across the market. Bitcoin held steady near $82,100 after bouncing from a dip to about $81,600 earlier in the day. The broader market showed strength as more than two-thirds of CoinDesk 100 Index members finished higher.
Celestia (TIA) led with a 16% gain, followed by injective up 7.7% and layerzero adding 7.3%. Ether also rose 0.5% to trade near $2,450. The CoinMarketCap Altcoin Season index climbed to 60 from 50 a day earlier, reflecting the shift in trader interest toward smaller cryptocurrencies.
Key market numbers
- Bitcoin trading around $82,100, up from a dip to $81,600 around 03:30 UTC
- Celestia jumped 16%, injective rose 7.7%, layerzero added 7.3%
- Ether gained 0.5% near $2,450
- More than two-thirds of CoinDesk 100 members higher
- Altcoin Season index rose to 60 from 50
Fed Chair Warsh gives no rate signal
Federal Reserve Chair Kevin Warsh spoke at the IMF and World Bank meetings in Bangkok but declined to signal what the central bank would do at its meeting later this month. According to the CME Fedwatch tool, the odds of an October interest-rate increase fell to about 15% from roughly 30%.
Treasury yields were largely stable following the comments.
Derivatives positioning shows mixed signals
Crypto futures volume cooled, sliding 20% over 24 hours to $200 billion, while open interest rose 2% to $142.21 billion. Liquidations dropped sharply to $311 million from nearly $1 billion the previous day, suggesting forced selling has eased.
The long-to-short taker volume ratio returned to balanced levels after shorts made up 52% of activity the day before. However, analysis from CoinDesk noted that Bitcoin's recent gains lack fresh long bets — open interest rose just 0.3% against a 1% price gain. The moves appear driven by traders closing short positions rather than opening new long positions.
Among major tokens, Zcash (ZEC) stood out with a 14% jump in open interest against an 11.5% price gain, indicating new bullish bets. XRP showed the opposite pattern, with open interest falling 1% as traders closed positions during the price rise.
Asian and US equities steady
Asian equities recovered from Thursday's sell-off, with South Korea's Kospi closing 2.05% higher and Japan's Nikkei up 1.39%. S&P 500 futures were little changed after the index snapped a three-day losing streak.
Why this matters
The market shift toward altcoins suggests traders are rotating capital away from Bitcoin into smaller cryptocurrencies, a pattern that has historically preceded broader risk-on sentiment. Meanwhile, the fading odds of a rate hike and easing liquidation pressure point to reduced macro headwinds for digital assets in the near term.
What is confirmed
Bitcoin traded near $82,100 with altcoins posting stronger gains. Celestia, injective, and layerzero all rose significantly. Fed Chair Warsh gave no indication of upcoming rate policy. Derivatives data showed cooling volume and balanced sentiment after a day of heavy short selling.
What is still unclear
It remains uncertain whether the altcoin rally will sustain or if Bitcoin will reclaim dominance. The market has not yet reacted to the upcoming Federal Reserve meeting later this month.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.