Bitcoin Reclaims $81,000: Crypto Rally’s Latin America Read
Key Facts
- Bitcoin settled at US$81,272, a 5.14% daily jump that broke back above the closely watched US$81,000 level in Thursday’s session.
- Ethereum and XRP rallied hardest, with Ethereum up 4.87% to US$2,508 and XRP jumping 7.52% to US$1.4513 as other cryptocurrencies followed Bitcoin’s rise.
- A signal from the US Federal Reserve drove the move, after Fed Governor Christopher Waller said he could support holding US interest rates steady, which weakened the dollar and made riskier investments like crypto more attractive.
- Traders who had bet on falling prices got burned, as roughly US$415 million worth of those bets were forced to close when prices rose instead, adding fuel to the rally.
- Brazilians still prefer dollar-pegged coins over Bitcoin, with about 90% of first-quarter crypto purchases going into USDT or USDC — digital tokens designed to always be worth one US dollar — on US$6.9 billion of trading volume.
- El Salvador’s crypto remittances stay a small niche, at US$35.4 million in the first half of 2026, just 0.7% of the roughly US$5.06 billion total money migrants sent home to the country.
Today’s Focus
Bitcoin settled at US$81,272 on Thursday, a 5.14% gain that pushed the largest cryptocurrency back above US$81,000 for the first time in the current cycle. Ethereum added 4.87% to US$2,508, while XRP outperformed with a 7.52% jump to US$1.4513 and Solana rose 3.58% to US$103.98.
The trigger was macro: Federal Reserve Governor Christopher Waller signalled he could support holding interest rates steady, weakening the US dollar and lifting both equities and crypto. That dovish tilt caught bearish traders off guard, with roughly US$415 million in short positions liquidated within minutes of the breakout.
For Latin America, the rally is a secondary story. The region’s deeper shift is toward stablecoins, not Bitcoin, as the working currency for Brazilian and Argentine crypto users.
Brazil’s first-half 2026 buying rose 135% year-on-year to US$14.68 billion, almost entirely in dollar-pegged tokens.
What matters today. A global macro rally lifted prices, but Latin America’s real story remains the quiet dominance of stablecoins for hedging and everyday payments.
01 The session in one read
Bitcoin settled Thursday at US$81,272, a 5.14% daily rise that reclaimed the US$81,000 handle with conviction. The move came after Federal Reserve Governor Christopher Waller said he could support pausing rate increases, which weakened the US dollar index and drew capital into risk assets.
The result was a violent unwinding of bearish positions. Roughly US$415 million in crypto short bets were liquidated as Bitcoin broke higher, forcing bearish traders to buy back and amplifying the rally.
Ethereum settled at US$2,508, up 4.87%, while XRP jumped 7.52% to US$1.4513 and Solana added 3.58% to US$103.98.
This looks like a positioning-driven bounce triggered by the Fed’s rate-pause signal and a softer dollar index, rather than evidence of new adoption demand. The liquidation cascade of roughly US$415 million in shorts amplified the move beyond what spot buying alone would justify.
For Latin America, the session changes little: household hedging in Argentina and business remittances in Brazil continue to flow overwhelmingly through stablecoins, not volatile majors. The variable to watch is whether Bitcoin holds above the US$81,000 level into next week, which would confirm the short squeeze has legs.
Watch whether total crypto market capitalisation, now around US$2.82 trillion, holds above US$2.8 trillion through the weekend.
02 The board
All four major instruments we track closed firmly in positive territory. Bitcoin’s 5.14% gain to US$81,272 was the headline move, but XRP’s 7.52% rise to US$1.4513 marked the strongest percentage performance among the majors.
Ethereum advanced 4.87% to US$2,508, maintaining the positive correlation with Bitcoin that has defined this cycle. Solana’s 3.58% rise to US$103.98 was more muted, suggesting traders favoured established names over faster-moving layer-one bets during the short squeeze.
| Asset | Level | Change |
|---|---|---|
| Bitcoin | US$81,272 | +5.14% |
| Ethereum | US$2,508 | +4.87% |
| Solana | US$103.98 | +3.58% |
| XRP | US$1.4513 | +7.52% |
Source: RT close, 2026-09-03. Where a commodity has no spot feed, an exchange-traded tracker or leading producer is shown as a labelled proxy.
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Latin America — Cross-Market Board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 205,430.33 | +0.54% | +21.85% | 204,324.26 | 168,310 | 167,142 | — |
| IPSA | 10,970.29 | -0.01% | — | 10,971.88 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 68,929.72 | +1.87% | +12.17% | 67,663.29 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 2,848,945 | -0.35% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,566.28 | -0.55% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 60,210.69 | -0.91% | — | — | — | — | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| EUR/BRL | 5.95 | +1.01% | -5.83% | 5.89 | 5.98 | 5.94 | — |
| USD/MXN | 17.06 | -0.24% | -8.58% | 17.10 | 17.08 | 17.01 | — |
| USD/CLP | 913.98 | +0.04% | -5.67% | 913.65 | 915.11 | 906.68 | — |
| USD/COP | 3,140 | +0.03% | -22.04% | 3,139 | 3,141 | 3,105 | — |
| USD/PEN | 3.36 | -0.66% | -4.82% | 3.38 | 3.38 | 3.35 | — |
| USD/ARS | 1,493 | +0.10% | +12.96% | 1,491 | 1,494 | 1,480 | — |
| USD/UYU | 40.27 | +1.24% | +1.80% | 39.77 | 40.27 | 40.23 | — |
| USD/PYG | 5,939 | +1.68% | -19.54% | 5,841 | 5,939 | 5,925 | — |
| USD/BOB | 11.64 | -0.76% | +72.04% | 11.73 | 11.72 | 11.64 | — |
| USD/DOP | 58.34 | +1.25% | -3.44% | 57.62 | 58.34 | 58.04 | — |
| USD/CRC | 445.92 | +0.89% | -9.71% | 441.97 | 448.50 | 445.92 | — |
03 What moved it
The proximate driver was monetary policy. Governor Waller’s comments on Wednesday signalled the Federal Reserve could hold rates steady at its next meeting, directly lowering the opportunity cost of holding non-yielding assets like Bitcoin and Ethereum.
The US dollar index fell in response, a historically reliable tailwind for crypto prices.
The technical catalyst was Bitcoin’s break through the US$81,000 level. That triggered roughly US$140 million in crypto short liquidations within 60 minutes, according to market trackers, which in turn forced algorithmic buying.
By session close, total liquidations had reached US$415 million, with Ethereum and XRP short sellers also squeezed.
04 The Latin American read
For most Latin American users, this Bitcoin rally is a secondary event. Stablecoins dominate regional crypto activity: in Brazil, about 90% of first-quarter 2026 purchases were USDT or USDC on US$6.9 billion of volume, and first-half buying reached US$14.68 billion, up 135% from the same period in 2025.
Argentina shows the same pattern. More than 70% of buys on the Bitso exchange were USDT or USDC, and roughly 75% of crypto-paid workers chose stablecoin salaries over Bitcoin or Ethereum, using dollar-pegged tokens to hedge against local currency depreciation and capital controls.
El Salvador’s remittance story remains modest. Digital-currency remittances reached US$35.4 million in the first half of 2026, up 39.1% year-on-year but still just 0.7% of the country’s roughly US$5.06 billion total.
Traditional providers like banks and remittance companies still handle more than 84% of inflows, and the sovereign treasury’s roughly 7,660 BTC holding underscores how small crypto remains relative to the country’s broader financial flows.
05 The names to watch
Tether faces a new legal challenge in Asia, where Thai businessmen are suing over US$42 million in frozen USDT tied to a pig-butchering scam. The case tests how stablecoin issuers handle law-enforcement freezes and could shape trust in USDT across emerging markets, including Latin America where it dominates.
Kraken and SoFi announced a partnership linking SoFi’s banking network and SoFiUSD stablecoin to Kraken Prime, expanding dollar settlement rails that Latin American users have increasingly adopted for cross-border transfers. Meanwhile, the CFTC — the top US regulator of futures and derivatives markets — moved to dismiss a lawsuit from the CME exchange over crypto “perpetual” futures (contracts that let traders bet on crypto prices with no expiration date), arguing CME lacked standing to challenge a rival’s Bitcoin contract.
06 The outlook
The immediate question is whether Bitcoin can consolidate above US$81,000 without another wave of short-covering to support it. If the US dollar continues to weaken ahead of the Fed’s next meeting, the rally could extend; if rate-cut expectations fade, the squeeze-driven gains may reverse quickly.
For Latin America, watch Brazil’s stablecoin volumes and Argentina’s USDT premium rather than Bitcoin’s price. Those metrics reveal whether real demand for dollar exposure is still growing, independent of what happens on global exchanges.
07 What to watch
- Bitcoin above US$81,000: Whether the breakout level holds through the weekend determines if the short squeeze has follow-through demand.
- Brazil stablecoin volumes: Second-half 2026 data will show if the roughly 90% stablecoin share of purchases persists or shifts toward volatile assets.
- Argentina USDT premium: Widening premiums would signal renewed demand for dollar hedging amid currency pressure and capital controls.
- Tether litigation: The US$42 million frozen-USDT lawsuit in Asia could test stablecoin issuers’ legal liabilities, with ripple effects for USDT-heavy Latin American markets.
Frequently Asked Questions
Why did Bitcoin rise on Thursday?
Federal Reserve Governor Christopher Waller signalled he could support pausing rate increases, weakening the US dollar and triggering a short squeeze that pushed Bitcoin above US$81,272, up 5.14%.
Why did other cryptocurrencies rally too?
Bitcoin’s breakout liquidated roughly US$415 million in short positions across multiple coins, forcing bearish traders to buy back Ethereum, XRP and Solana, which amplified gains across the board.
Does this rally change crypto adoption in Latin America?
Not meaningfully. Latin American users overwhelmingly prefer stablecoins: Brazil’s first-quarter crypto buying was about 90% USDT or USDC, and Argentina’s share exceeded 70%, suggesting the rally matters more to traders than to everyday users.
How big is El Salvador’s crypto remittance market?
El Salvador processed US$35.4 million in digital-currency remittances in the first half of 2026, up 39.1% from a year earlier but still only 0.7% of the country’s roughly US$5.06 billion total remittance flows.
Market data: RT
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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