BTC breaks 80,000 and is overbought, Solana leads the rise and conceals a pullback

According to Woofun AI, the plan proposed by US Treasury Secretary Scott Bessent to step up bond repurchases has reignited market discussions on “depreciation transactions,” that is, holding assets not controlled by the government to avoid the risk of currency depreciation. This macro-narrative directly contributed to a strong rebound in the crypto market.

During the opening of the Asian market on Tuesday, the price of Bitcoin rose above $80,000, up 4% on the same day, with a cumulative increase of more than 25% this week. However, according to Bitfire Research, the value of the momentum indicator, which measures the recent rise and fall rate, has risen to 78. The indicator ranges from 0 to 100, and usually over 70 means that the price is rising too fast and is at risk of a pullback. The report further revealed that Bitcoin faced significant selling pressure in the $78,500 to $82,000 range, while buying support was concentrated in the $72,400-$73,500 range.

From a structural point of view, this pattern of high volatility indicates that although the momentum of the bulls is strong, short-term profit settlement pressure is building up, and market sentiment is being strongly dragged between extreme optimism and technical overbuying.

According to data compiled by Woofun AI, the performance of mainstream and altcoins was divided. Solana's increase was close to 8%, and the price surpassed $101. The cumulative increase this week was about 35%. Its upward logic stems from validators currently voting on two proposals to reduce SOL supply—slowing the issuance of new tokens and increasing the number of tokens burned daily to $800,000, and the voting ends on Thursday. Ethereum is up more than 2%, and the price is just under $2,500, with a cumulative increase of nearly 32% this week. BNB was up more than 2%, and the price was just under $714.

XRP is up close to 2%, and the price is slightly above $1.50. This week's cumulative increase of over 52% is the best performer. Zcash rose more than 1% to $846, leading the way with a cumulative increase of 66% this week. Dogecoin rose 32% this week, and the price rose to 9 cents; Tron rose 0.5%, slightly less than 35 cents, and increased 4% this week, making it the only mainstream coin that did not reach double digits. Hyperliquid's HYPE index fell slightly to $81, but it still achieved a 36% increase this week.

The more critical variable is the subsequent macroeconomic policy trend. Scott Bessent said on Monday that the bond sale plan will not be adjusted until the next quarterly debt repayment announcement in November, but interest rate strategist Martin Tobias estimates that the Treasury has between $80 billion and $200 billion of idle capital that can be used for repurchases. Federal Reserve Chairman Kevin Walsh will speak in Jackson Hole, Wyoming on Wednesday. This is the first time he has spoken here since taking office, and has always been viewed as a harbinger of policy changes.

Additionally, procedural voting on the Clarity Act, the SEC's regulatory framework consultation, the September Federal Reserve meeting, PCE inflation data, and employment data will all be core factors influencing market trends.