Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Robinhood has announced the launch of crypto perpetual futures contracts for US customers, expanding its digital asset offerings by allowing traders to access up to 10x leverage on both Bitcoin and Ether. This development marks a significant milestone as the company seeks to provide more advanced trading instruments traditionally available to institutional investors.
Regulatory progress and strategic partnershipsThe introduction of perpetual futures follows Robinhood’s efforts to secure regulatory approval. This includes obtaining a no-action letter from the Commodity Futures Trading Commission (CFTC), mitigating potential compliance risks for the company. Nicola White, Robinhood’s vice president of institutional crypto, outlined how regulatory clarity played a pivotal role in moving the new product forward.
Robinhood’s collaboration with Bitstamp proved decisive, as Bitstamp’s exchange infrastructure was integrated to manage the trading of these derivatives. At the same time, Robinhood Derivatives was developed to create a seamless user experience for both retail and professional clients. The joint strategy allowed Robinhood to introduce leveraged perpetual futures contracts to US markets where such products have historically faced restrictions.
Nicola White noted the importance of keeping markets accessible around the clock, reflecting growing demand for 24/7 trading among both retail and institutional participants. “We see an industry need for always-on markets, especially as crypto trades continuously with no closing bell,” she stated.
Addressing demand and product innovationThe company has observed a merging of retail and institutional interest, particularly as larger investors seek deeper liquidity for substantial block trades. Robinhood also highlighted increased attention to sub-account controls, which are particularly important when supporting institutions wishing to allocate capital or manage strategies across multiple accounts.
In this environment, institutional clients are increasingly exploring advanced strategies, including the use of AI trading agents and innovations such as tokenized stocks. Robinhood believes the expansion of crypto derivatives will give US investors access to risk management tools commonly available in other markets, while adhering to leverage restrictions informed by prior market turbulence.
Retail and institutional interest is converging, creating demand for continuous markets and deeper liquidity, while institutions are focusing on large block trades and advanced sub-account controls to support their evolving strategies.
Learning from the volatility experienced during the 2022 market downturn, Robinhood said it has adopted stricter leverage controls and enhanced transparency measures. The company aims to serve the growing appetite for sophisticated products while managing risk responsibly.
Market integration and evolving trading habitsAs trading and macroeconomic environments shift rapidly, the importance of real-time tools is becoming more pronounced. In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, the operational friction of switching between multiple apps for news, portfolio tracking, and price analysis has become a pressing concern for both retail and institutional investors.
Smart traders are now turning to privacy-centric solutions such as CryptoAppsy, which aggregates live charts, tailored news, portfolio overviews, and macroeconomic data on a single interface. Without the need for account registration, users can set price alerts and receive asset-specific updates, contributing to more decisive and responsive trading experiences.
Looking ahead, Robinhood’s strategy around tokenized stocks and innovative financial products aligns with broader trends reshaping digital finance. As the company continues to explore new avenues for expanding its crypto and equity offerings, institutional participation in the crypto sector is expected to increase, especially as access to derivatives and continuous trading becomes the industry standard.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bitcoin is holding above $83,000 as traders watch key support levels for signs of the next breakout.
Notable Statistics:
Coinglass data shows 75,142 traders were liquidated in the past 24 hours for $269.57 million. SoSoValue data shows net inflows of $66.2 million from spot Bitcoin ETFs on Tuesday. Spot Ethereum ETFs saw net inflows of $2.8 million. In the past 24 hours, top gainers include Quant, Stacks and NEAR Protocol. Notable Developments:
Ethereum-Based Stablecoin Issuer ENA Could Surge 600%: Standard CharteredMastercard, Visa, Stripe-Backed Consortium Enters USD Stablecoin MarketBitcoin, XRP Whipsaw On Positive PCE Inflation Print Battling Surging Oil PricesDogecoin Gets New Utility Push With DogeOS TestnetBitcoin, XRP Have Utility but One Privacy Token Is Gaining Market ShareBitcoin ‘Debasement Trade’ Gains Steam Again as Institutions Pile InRipple Steps Into Brazil’s Securities Market: What Does It Mean for XRP?‘Bitcoin Senator’ Lummis Says ‘Democrats Hate Trump More Than They Like Good Policy’Trader Notes:
CryptosBatman explained Bitcoin is breaking out of its four-hour downtrend, putting $90,000+ back in play if the breakout holds.
Daan Crypto Trades sees $83,000 as Bitcoin’s key line in the sand, turning more defensive if BTC breaks below it amid elevated yields and macro uncertainty.
A reclaim of $85,000 would strengthen the bullish case, while losing $83,000 could signal a broader risk-off environment, particularly for altcoins.
Trader exitpump noted Bitcoin is consolidating around $82,000 support as excess leverage clears, with open interest back to pre-FOMC levels and spot order-book depth improving.
The setup points to a healthier market structure heading into bullish October.
Image: Shutterstock
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Leading cryptocurrencies held firm on Wednesday as investors digested the latest inflation data and expectations of another rate hike.
Cryptocurrencies Hold Their LevelsBitcoin hit an intraday high of $85,518 in the early hours, then pulled back to the $83,000 range by evening. Ethereum consolidated between $2,650 and $2,730.
Cryptocurrency-related stocks dipped further, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 1.02% and 1.12%, respectively.
Over $260 million was liquidated from the cryptocurrency market in the last 24 hours, with longs and shorts accounting for roughly equal shares, according to Coinglass data.
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Bitcoin’s open interest rose 0.92% over the last 24 hours. When open interest rises while the asset’s price falls, it typically signals a short buildup, as new sellers enter the market.
"Greed sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
Stocks Slip Even as Inflation Slows DownStocks were a mixed bag on Monday. The Dow Jones Industrial Average shed 0.86%, or 443.87 points, to close at 50,906.05. The S&P 500 fell 0.25% to close at 7,651.54. Nasdaq Composite bucked the decline, rebounding 0.24% to end at 26,861.06.
August’s personal consumption expenditures price index rose 0.3% month-over-month, below economists’ expectation of 0.4%. Headline PCE inflation held at 3.4%, matching July’s revised reading and below the 3.7% consensus.
Traders are now pricing in a 38% chance of another 25-basis-point rate hike next month, down from 50% the day before, according to the CME FedWatch tool.
Bitcoin Still Not Out of the Woods?Rekt Capital, a widely followed cryptocurrency analyst and trader, stated that Bitcoin needs to show stability above the low $80,000s for “additional trend continuation to the upside.”
“Loss of that stability would see price revert into the $60,000-$80,000 Macro Range for additional consolidation there,” the analyst added.
On-chain analytics firm CryptoQuant noted that Bitcoin’s 90-day Buy/Sell Pressure indicator has returned to a zone associated with “stronger buying pressure,” though still below the higher levels seen during “stronger expansions.”
“If the delta stalls near its current level and rolls over while price pushes higher, the divergence would suggest that the rally is losing support,” CryptoQuant added. “A continued rise in the delta…would strengthen the case for a durable trend.”
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Photo Courtesy: Sodel Vladyslav on Shutterstock.com
Researchers have proposed a way to make Bitcoin private without changing Bitcoin itself. Misha Komarov, co-founder of alloc/init, explains Shielded Bitcoin: zero-knowledge proofs that hide the sender, receiver, and amount of a Bitcoin transfer, with no soft fork, no custodians, and no bridges. He covers how Bitcoin PIPEs make it possible and what the proposal still needs. It is a research proposal, not a finished product.
Chapters:
0:00 Shielded Bitcoin: Private Bitcoin Transactions With Zero-Knowledge Proofs
0:38 How Bitcoin PIPEs Make Privacy Possible Without a Soft Fork
1:42 Do Indexers and ZK Rollups Require Trust?
3:16 Shielded Bitcoin vs. Monero and Zcash
4:21 What Privacy Shielded Bitcoin Protects
5:59 How Private Are Early Users? The Small Privacy Set Problem
7:37 Is Shielded Bitcoin an Altcoin Killer?
9:12 Fees, Block Space, and Larger Shielded Transactions
10:50 Who Needs Private Bitcoin? Wrench Attacks and Corporate Treasuries
12:20 Dark Pools, Governments, and the Next Wave of Bitcoin Buyers
DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.
Patrick Green
Patrick Green is an Assistant Producer and Channel Manager on the multimedia team at Bitcoin Magazine, focusing on production, content distribution, and channel strategy across the network.
Researchers have introduced a proposal that could enable fully private Bitcoin transactions, eliminating the need for fundamental changes to the network. Misha Komarov, co-founder of the privacy-focused technology firm Alloc Init, detailed the solution dubbed “Shielded Bitcoin,” relying on advanced cryptographic techniques to conceal key transaction details.
Zero-Knowledge Proofs for Bitcoin PrivacyKomarov explained that Shielded Bitcoin uses zero-knowledge proofs—a method allowing a participant to prove knowledge of certain information without sharing it—to hide the sender, receiver, and transaction amount. Unlike previous privacy approaches, this proposal would not require a soft fork, custodians, or blockchain bridges.
Komarov stated that, “Shielded Bitcoin allows users to transfer funds privately while remaining on the original Bitcoin network and without giving up asset control to a third party.”
The key innovation involves integrating Bitcoin PIPEs (parallelized input, parallelized execution), which facilitate the processing of complex proofs and allow privacy features without network modifications.
Mini dictionary: Zero-knowledge proofs are cryptographic methods enabling users to verify the validity of data or claims without revealing the data itself. This technique underpins the privacy features of cryptocurrencies like Zcash and Monero by hiding transaction details from public view.
Comparison to Monero and ZcashKomarov compared Shielded Bitcoin to existing privacy-oriented cryptocurrencies such as Zcash and Monero. Both of these networks already use cryptographic techniques to obscure transactions, but they require separate blockchains and asset conversions. Komarov suggested that implementing similar privacy directly on Bitcoin, without splitting liquidity or custody, would represent a major advancement.
FeatureShielded Bitcoin (proposal)ZcashMoneroNetworkBitcoinZcashMoneroPrivacy methodZero-knowledge proofs (no soft fork)Zero-knowledge proofs (Zk-SNARKs)Ring signatures, stealth addressesRequires new assetNoYesYesCustodial/Bridges neededNoN/AN/AAdoption Hurdles and Privacy LimitationsThe Shielded Bitcoin proposal is still at the research stage and not yet a deployable product. Komarov highlighted ongoing challenges, including limited privacy for early users due to a small anonymity set and uncertainties around computational fees and transaction size limits on the Bitcoin blockchain.
He also addressed practical considerations, such as whether indexers or zero-knowledge rollups may require some level of trust in practice, and how larger transactions might impact blockspace usage and fees.
Aim: Enhanced User Privacy Without Sacrificing Bitcoin’s Core FeaturesThe proposal is designed for users who need advanced privacy, such as corporate treasuries or individuals concerned about security threats. Komarov referred to attacks and surveillance risks, suggesting that privacy protections on Bitcoin could attract new segments of institutional and private buyers seeking greater confidentiality.
Shielded Bitcoin aims to offer the privacy features of assets like Zcash without users having to leave the security and liquidity of the Bitcoin network.
Researchers are seeking additional feedback and development to address current limitations. Komarov emphasized that, for now, Shielded Bitcoin remains a concept in active exploration rather than an immediate upgrade for the Bitcoin protocol.
Bitcoin is holding above the $83,000 area as buyers defend a key market level after BTC climbed toward $87,363. The move matters because Bitcoin has also closed above its weekly 50-EMA, a chart signal that often brings renewed focus to the broader crypto market.
For altcoin buyers, Bitcoin’s strength can create a better backdrop for projects with clear momentum and useful product stories. Solana is up 68% in two months and preparing its Alpenglow upgrade, while NEAR is holding near $4.90 after breaking a long resistance channel.
MemeToro adds a much earlier-stage angle. The BNB Chain AI launchpad has entered Stage 8 at $0.00528 and raised more than $157K. Its open-source fair-launch tools and memecoin ecosystem give it a different kind of position for the next phase of the market.
Why MemeToro $MT is a Top Altcoin to Buy Now $MT is intended to power the wider MemeToro ecosystem. Users may use it for premium platform features, launch funding, transactions, staking, rewards, and planned memecoin trading.
The platform is designed around a repeatable user journey. A creator can find a trend through the AI agent, build a token proposal, use a public fair-launch framework, and then bring a successful project toward trading activity.
MemeToro’s public-sale allocation represents 71% of the 1.2 billion-token supply. The structure gives public buyers a large role in the planned ecosystem, while marketing and partner allocations follow a 24-month vesting schedule.
At the Stage 8 price of $0.00528, $400 secures about 75,758 $MT before transaction costs. Using the displayed $0.05186 launch price, that holding would show a paper value of about $3,928.
Buyers interested in this earlier BNB Chain route can review the official how to buy $MT guide. The core appeal is that MemeToro is pairing a low Stage 8 entry with a platform designed for active creator and trader use.
Bitcoin’s $83K Support Gives Altcoins a Stronger Market BackdropBitcoin is trading around $83,720 after bulls defended the $82,500 support zone. The chart is showing a bull flag just below the recent $87,363 high, which keeps the market focused on whether BTC can build another move higher.
Bitcoin also has strong institutional support. Spot Bitcoin ETFs recorded $2.25 billion in weekly inflows, showing that large buyers continue to view the asset as a major part of the crypto market.
The weekly 50-EMA close is important because weekly chart signals often show the market’s wider direction. When Bitcoin holds important support and stays above a major weekly trend line, buyers often begin looking further down the market for altcoin opportunities.
Three ideas stand out during this market phase:
Solana is advancing fast blockchain technology through Alpenglow.NEAR is building on a strong Layer-1 chart structure and cross-chain activity.MemeToro is creating a new AI-memecoin launchpad narrative on BNB Chain.Bitcoin remains the market anchor, but new cycles often create room for several types of crypto projects. Layer-1 networks, AI platforms, and memecoin ecosystems can each attract different user groups.
Solana’s Alpenglow Upgrade Keeps $124 in FocusSolana is trading near $118.36 after a 68% rise over the last two months. The token remains above its 50-day EMA near $101.81, while its daily RSI near 62 suggests buyers are still active as SOL approaches the $124 resistance level.
The bigger story is the Alpenglow upgrade. Solana has deployed the upgrade across its second public test network, with the goal of reducing transaction settlement time from about 13 seconds to 150 milliseconds.
That is a major speed improvement. Faster settlement can help Solana support trading, payments, games, and consumer apps that need quick confirmation.
Solana’s current narrative includes:
a 68% two-month rallysupport above the 50-day EMAa $124 resistance level in focusAlpenglow test-network progressfaster transaction settlement for future appsSOL is already one of the best-known high-speed networks. Its next chapter depends on whether the network can turn technical upgrades into more active users, developers, and applications.
NEAR Holds a Bullish Range as MemeToro Enters Stage 8NEAR is holding near $5.19 after breaking through a multi-month resistance channel. The token has settled into a range between $4.90 and $5.30 after reaching $5.19, giving the market a clear level to watch as the Layer-1 story develops.
Its moving averages remain on a strong-buy setting, while the 14-day RSI has cooled to a neutral 49.5. This gives NEAR a steadier setup after its earlier move and keeps attention on the $4.79 swing low.
MemeToro offers another way to follow the next crypto cycle. Rather than operating as a Layer-1 blockchain, MemeToro is building tools on BNB Chain for users who want to create, research, and trade trend-based memecoins.
Its AI agent is designed to find rising online narratives and help creators build token concepts. Its public FairLaunchEscrow contracts are designed to lock launch terms, manage refunds, and route successful launches toward liquidity.
Stage 8 places $MT at $0.00528, with more than $155K raised. This gives early buyers access to a platform that aims to combine AI trend discovery, fair-launch tools, a news hub, and future memecoin trading.
Should You Add these to Your Altcoin Portfolio?Bitcoin’s hold above $83K and its weekly 50-EMA close give the crypto market a stronger technical base. That backdrop puts attention on altcoins with clear developments rather than vague promises.
Solana has speed and Alpenglow progress. NEAR has a bullish Layer-1 structure after breaking resistance. MemeToro brings an earlier AI-memecoin platform story with more than $157K raised, public fair-launch contracts, and a Stage 8 price of $0.00528.
These three altcoin narratives approach the next cycle from different directions. Solana focuses on high-speed settlement, NEAR focuses on Layer-1 expansion, and MemeToro focuses on making memecoin launches more intelligent, transparent, and accessible on BNB Chain.
FAQsWhy is Bitcoin’s $82K level important?Bitcoin’s $82,500 area is a major support zone below its current price. Holding that level helps maintain the market’s broader bullish structure.
What is Solana’s next key level?Solana is approaching resistance near $124. Its Alpenglow upgrade is also a major development to follow.
Crypto investment products recorded $3.55 billion in weekly inflows, marking their highest weekly total of 2026 to date. CoinShares, a leading digital asset investment manager based in Europe, stated that nearly all these inflows originated from US-based funds, reflecting renewed demand following weeks of minimal activity.
US dominates global inflowsCoinShares reported that US-based products accounted for approximately $3.434 billion of worldwide inflows, representing nearly 97% of the total. Germany followed distantly with $73.9 million, while Canada and Switzerland recorded $21.8 million and $20.9 million, respectively. The bulk of investment centered in the United States underscored the importance of American institutional activity.
Total assets under management for digital asset investment products reached $173 billion globally. Year-to-date inflows stood at $8.6 billion as of the week ending September 29.
RegionWeekly InflowsUnited States$3.434 billionGermany$73.9 millionCanada$21.8 millionSwitzerland$20.9 millionBitcoin and altcoins attract fresh capitalBitcoin products played a dominant role, collecting $2.52 billion in inflows for the week. The flagship cryptocurrency recovered from levels below $75,000 and climbed above $83,000 during the reporting period. Ethereum-focused investment products also attracted robust interest, adding $702 million in inflows. Solana products drew $193 million, while XRP funds received $92.3 million.
With nearly all weekly inflows allocated to US-based products, CoinShares described the trend as clear evidence that institutional interest has strengthened following recent macroeconomic volatility.
CoinShares associated the rebound with improved investor confidence after two weeks of subdued activity. Investors reportedly responded to reduced uncertainty regarding US monetary policy after the Federal Reserve raised interest rates by 25 basis points, bringing the target range to 3.75% to 4.00% on September 16.
Mini dictionary: CoinShares — A leading digital asset investment and research firm offering insights and fund management for cryptocurrencies and blockchain-related assets.
Spot Bitcoin and Ether ETFs see steady inflowsUS-listed spot cryptocurrency exchange-traded funds (ETFs) continued to draw sustained capital throughout the week. Spot Bitcoin ETFs received $2.39 billion, while Ether ETFs added $690 million in new money. Both product groups recorded inflows on every trading day of the week, although momentum slowed after Friday.
On the following Monday, net flows declined significantly, with Bitcoin ETFs collecting $31 million and Ether ETFs $17 million. Despite a temporary surge, broader market momentum tapered off as the week progressed, particularly after Bitcoin touched $87,000 on September 23 before retreating toward $84,000.
Market analysts stated that rising US Treasury yields and a stronger dollar could continue to influence crypto fund inflows as investors monitor the prospect of additional interest rate hikes.
With total assets under management rising to $173 billion, several major crypto investment products reported their busiest week of inflows in 2026 so far, led by Bitcoin and Ethereum.
Bitcoin topped $85,000 and gold jumped within minutes of new US inflation data on Wednesday. The Fed’s preferred price gauge rose 3.4% from a year earlier, well below forecasts of 3.7%.
Gold price increased in a straight line, ending a week-long downtrend.
Gold and Bitcoin hourly charts showing the jump after the US inflation release, Source: TradingViewHow Much US Inflation CooledThe personal consumption expenditures (PCE) price index measures what Americans pay for goods and services. The Federal Reserve watches it more closely than any other inflation gauge.
Headline PCE slowed to 3.4% from July’s 3.7% reading. Core PCE, which strips out volatile food and energy, rose 3.0%, below the 3.3% consensus.
— zerohedge (@zerohedge) September 30, 2026 On a monthly basis, core prices climbed 0.2%, under the 0.3% forecast. Headline PCE rose 0.3%, in line with estimates.
Bullish for Bitcoin and Gold?The timing points to the rate outlook. The Fed is raising rates, and this report was one of two it was watching before its Oct. 27 and 28 meeting.
On Sept. 16, the central bank lifted rates by 0.25% to a 3.75% to 4.00% range, its first hike since 2023. Of 18 officials, 16 projected at least one more increase before year-end.
Traders had braced for a hotter print. As of Sept. 28, CME FedWatch data showed a 72.5% chance of an October hike. Updated odds were less than 40 as of this writing.
Target Rate Probabilities for October Meeting. Source: CME FedWatch ToolThe dollar was also running hot going in. The US Dollar Index, which tracks the greenback against major currencies, was having its best month since June on hawkish Fed signals.
A softer reading chips away at the case for the next hike. BeInCrypto reported earlier this month that lower rate hike odds tend to support Bitcoin by easing pressure from Treasury yields. Gold pays no interest, so it also tends to lose appeal when rates climb.
Part of the cooling may be technical, however. Bank forecasts flagged the risk ahead of the release, expecting core PCE to print around 0.27%.
August PCE Forecasts. Source: Timiraos/XThe BEA updated how it calculates prices in three components. That change was expected to trim August’s annual figure by a few tenths of a percentage point.
Strong GDP Keeps a Fed Hike in PlayGrowth data released at the same time pointed the other way. Gross domestic product (GDP), the total value of goods and services the US produces, grew at a 2.2% annual rate in the second quarter. That beat the 1.5% forecast.
US FINAL Q2 GDP +2.2% (CONSENSUS +1.5%)
US FINAL Q2 PCE PRICE INDEX +5.0%
US FINAL Q2 CORE PCE +3.3% (CONSENSUS +3.6%)
— *Walter Bloomberg (@DeItaone) September 30, 2026 Households also spent more. Consumer spending adjusted for inflation jumped 0.6% in August, the biggest monthly gain since March 2025.
The September jobs report on Friday is the last major data point before the Fed meets. Policymakers will weigh cooler inflation against hot spending and growth.
1 October 2026 | 01:10 Bitcoin’s push above $85,000 ended in a quick reversal. The jump came as softer-than-expected US inflation data briefly eased concerns about another Federal Reserve rate hike.
Key Takeaways Bitcoin lost $85,000 after its initial inflation rally. Core inflation matched July’s revised annual rate. The four-hour 50 SMA remains the first hurdle. The August personal consumption expenditures report arrived on September 30 around 12:30 UTC. Bitcoin briefly climbed above $85,000, then slipped back below $84,000, according to CoinDesk’s intraday coverage. The initial buying was not enough to sustain the move.
Softer inflation eased rate fears, but did not settle them Core PCE, which excludes food and energy, rose 0.2% in August and 3.0% from a year earlier. The annual figure was below the 3.3% forecast reported by The Wall Street Journal. Headline inflation, including food and energy, came in at 0.3% for the month and 3.4% annually.
For Bitcoin, the immediate attraction was a reduced risk of another rate hike. Higher interest rates raise borrowing costs and can make interest-paying savings more attractive than assets such as Bitcoin. A softer inflation reading can give the Fed more room to pause.
The comparison with July needs care, however. Reuters reported that July’s annual core reading was revised down to 3.0%, matching August. There was no new decline between those two months, and headline inflation remained above the Fed’s 2% target.
Treasury yields also reversed their initial decline. CoinDesk reported that the US 10-year yield recovered to around 5.28% after falling as low as 5.20%. A rebound in yields can weaken the initial support for riskier assets by increasing the return available on government bonds.
That is a possible explanation for the fading momentum, but timing alone does not prove what caused Bitcoin’s reversal. The chart shows more clearly which price levels buyers failed to hold.
Bitcoin cleared resistance briefly, then fell back below it The Bitstamp four-hour chart shows the September 30 spike reaching roughly $85,500. The candle’s long upper wick records the move higher and the retreat that followed. At 21:20 UTC, Bitcoin was near $83,700, below the 50-period simple moving average around $84,200.
Bitcoin’s four-hour chart shows the inflation rally reversing below the 50 SMA. Snapshot: September 30, 2026, at 21:20 UTC. Source: TradingView, Bitstamp. The 50 SMA averages the closing prices of 50 four-hour candles. Bitcoin crossed above it during the rally, but was back underneath it later. That makes the average the first level to reclaim before another attempt at the rejected price area.
BTC level Why it matters $84,200 Four-hour 50 SMA; the first recovery hurdle. $85,000–$85,500 The area reached during the inflation rally before the reversal. Around $83,000 Nearby trading area within the recent consolidation. $81,900 Four-hour 100 SMA, below the recent range. $80,200 Four-hour 200 SMA, a deeper reference if selling continues. Levels are rounded from the September 30 chart snapshot. Moving averages change with each candle.
A four-hour close above the 50 SMA, followed by a pullback that holds around it, would be more convincing than another brief spike. It would show buyers maintaining higher prices after the initial buying subsides.
Bitcoin had already traded above $87,000 earlier in September. The inflation jump was therefore an attempt to recover lost ground within the month’s range, with the earlier high still overhead.
The failed rally does not erase September’s gains That wider range helps put Santiment’s assessment in context. The analytics firm described Bitcoin as outperforming stocks and gold heading into the fourth quarter. At the time of its post, it estimated BTC had gained roughly 7% in September, while the S&P 500 barely moved and gold fell more than 6%.
Santiment compares Bitcoin, the S&P 500 and gold using separate price scales and different return periods. Source: Santiment/Sanbase. The graphic uses a different Bitcoin comparison from the post: it marks a 6.3% gain over five weeks, alongside September changes of +0.3% for the S&P 500 and -6.5% for gold. These figures should not be treated as returns over the same period.
A failed intraday recovery can coexist with those earlier gains. Santiment is describing the wider advance; the four-hour chart is testing whether buyers can restart it.
Santiment’s demand argument also has a concrete example in Strategy’s purchase of 1,665 BTC. The company’s September 28 disclosure covered purchases made between September 21 and September 27. That confirms corporate buying during the month, while placing it before the inflation release.
The next attempt needs buyers to stay The next recovery will be more useful if it lasts beyond the initial burst. Two outcomes would change the short-term reading:
A sustained recovery: Reclaiming the 50 SMA and holding above it would improve the prospect of another attempt at the rejected $85,000 area. A deeper pullback: A sustained move below the trading area near $83,000 would increase attention on recent lows and the lower moving averages. Those averages are reference levels, rather than guaranteed support. A recovery while Treasury yields stay elevated would be a more demanding test of buyers than another rally on favourable inflation news. Holding higher prices in that setting would strengthen Santiment’s demand argument without relying on a fresh improvement in the rate outlook.
Author
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
The Federal Reserve raised interest rates on September 16. The following week, investors poured $3.55 billion into crypto funds, the most in any week of 2026.
Higher rates make safe assets like government bonds pay more. Crypto pays no interest at all. Yet big money went the other way.
Why Investors Bought Crypto After a Rate HikeThe Fed raised its benchmark rate by 0.25 percentage points to a range of 3.75% to 4.00%. Markets had seen it coming.
CoinShares, the asset manager that tracks these flows, says the hike ended weeks of guessing. Buyers then rushed back.
“The scale and breadth of the week’s demand suggest institutional conviction returned once the policy decision removed a key source of uncertainty, a pattern consistent with buying the fact after weeks of caution,” CoinShares wrote in the report.
CoinShares also sells crypto funds of its own.
The rebound came after a bruising stretch. On September 15, the CLARITY Act, a bill to set federal rules for crypto markets, failed a Senate vote 49 to 50. Bitcoin sank below $75,000. Lawmakers are now drafting replacements.
US Funds Led the Buying as Strategy Sold Stock for BitcoinBitcoin (BTC) funds took $2.52 billion. Ethereum (ETH) funds added $702 million. Solana (SOL) and XRP (XRP) followed with $193 million and $92.3 million.
US products drew $3.43 billion of the total. US spot Bitcoin exchange-traded funds (ETFs) took in money on all five trading days. In late May, crypto funds lost $1.67 billion in a week.
Bar chart of weekly crypto fund inflows by asset. Source: CoinSharesMicroStrategy, the company that holds 847,666 BTC, bought 1,666 more last week. It paid for part of that $143 million purchase by selling new shares of its stock, MSTR. CoinShares noted this dilutes existing shareholders.
Another Fed Hike Could Test the RallyBitcoin now trades near $84,236, up 1.37% in 24 hours, per BeInCrypto data. Traders see a less than 40% chance of another hike in October. The 10-year Treasury yield sits near 5.28%.
10-Year US Treasury Yield. Source: TradingViewWednesday offered some relief. US PCE inflation cooled to 3.4% in August. Friday’s jobs report comes next.
Bitcoin is now nearing $85,000 after receiving new hints from the latest US inflation report on the Federal Reserve’s next rate cut. The data came as traders persisted in watching for inflation, consumer spending data and prospects for monetary policy.
Bitcoin Nears $85,000 Level As US PCE Inflation Cools At press time, Bitcoin rose 0.5% to $84,813.74, approaching the $85,000 level on Wednesday, September 30. The move comes as a continuation of the recovery that started from the times of BTC’s descent to around $76,000 in mid-September.
The chart displays Bitcoin price action around September 19, which appears to be when it broke above the $80,000 threshold. The rally took off around September 21 when BTC rallied above $86,000. The BTC price then entered a consolidation period.
Bitcoin price chart today. Source: TradingView From September 23, the price of BTC rose and fell within a $83,000 to $85,000 range.The price of BTC has been stable, trading between $83,000 and $85,000 since September 23. The price rallied again on September 30 and is now back near the upper end of the range.
Driving the Bitcoin rally, the U.S. PCE report for August revealed a further slowdown in monthly inflation. The headline PCE price index increased 0.3% from July. Excluding food and energy, the index for core PCE increased 0.2%.
The market had expected headline PCE growth of 3.7% and core PCE growth of 3.3% for the year. The official BEA release, however, has annual headline PCE at 3.4% and core PCE at 3.0%.
Strong Spending Complicates Fed Rate Outlook The report revealed that demand by American consumers remained solid as well. The price indexes for personal consumption expenditures rose 0.9% in August, with the indexes for real personal consumption expenditures rising 0.6%.
Personal income increased 0.2%. Disposable personal income increased 0.3%. Despite the easing of inflation pressures, the figures indicate that households remained spending.
That makes for a mixed picture for the Fed rate decision. A less tight policy stance would be warranted with lower monthly core inflation. But inflation is still above the central bank’s 2% target, although it is less than that rate annually.
October Fed rate decision odds. Source: CME FedWatch tool That uncertainty is reflected in CME FedWatch data as displayed in the chart above. The markets assumed a 52.9% chance that the rates will stay unchanged at 3.75%-4.00% at the October 28 FOMC meeting. Meanwhile, a 47.1% probability was assigned toward a 25 bps hike to the 4.00%-4.25% range.
Traders have been adjusting their rate expectations after Bitcoin moved closer to $85,000.
The pullback in Bitcoin, the leading cryptocurrency, following its rise above $87,000, has reignited discussions about critical support levels in the market.
At this point, analysts generally point to the $82,000 level as a key factor for Bitcoin’s short-term direction.
Bitcoin Reaches a Critical Level: $82,000! Why is it Important? After rising above $87,000, Bitcoin retreated and tested the $82,000-$83,000 region. This area corresponds to the level that halted Bitcoin’s rise in May, subsequently causing the price to fall to around $57,000 in June.
While Bitcoin continues to trade near this level, some analysts are closely monitoring a bearish scenario, predicting it could begin with a drop below $82,000.
Speaking to CoinDesk, Jeff Anderson, President of STS Digital USA, stated that the most critical level to watch for Bitcoin is $82,000. Anderson noted that price movement at this level forms a “double top” pattern on the chart.
According to Anderson, a break below the $82,000 level could see Bitcoin fall towards the highs of $70,000. However, Anderson added that such a move would not necessarily mean the end of the uptrend.
Anderson also noted that the recent weakness in Bitcoin stems more from movements in the bond market than the cryptocurrency market itself. According to him, upward movement in bond yields is putting pressure on risky assets.
Analysts Point to Different Levels! While Anderson points to the $82,000 level, Bitget Wallet research analyst Lacie Zhang states that she considers the region between $81,500 and $83,000 to be critical.
Speaking to Coindesk, Zhang stated that Bitcoin’s ability to hold this space could support the current market structure, but a break below $82,000, coupled with increased ETF outflows and a continued rise in 10-year US Treasury yields, could increase the risk of a deeper correction.
Finally, Nexo Dispatch analyst Iliya Kalchev lowered his expectation line slightly, pointing to $80,000. The analyst stated that a break below $80,000 would indicate that Bitcoin is not ready for a short-term uptrend. However, according to the analyst, a rise above current levels could push BTC above $90,000.
*This is not investment advice.
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In brief August core PCE rose 3.0% year over year against 3.3% expected, and headline PCE came in at 3.4% versus 3.7%. October rate-hike odds now sit at 34.9%. Bitcoin popped above $85,000 to a high of $85,598.94, then eased to $84,376, up 0.9%. That's still inside the range it has held since its September surge. On Myriad, traders put just 7% odds on Bitcoin topping its $126,199 all-time high before 2027, and ETF inflows have faded since their $2.4 billion week. Bitcoin is doing something Wall Street can't right now: staying calm.
The Federal Reserve's preferred inflation gauge, the PCE index, rose 0.3% in August and 3.4% from a year earlier, below the 0.4% and 3.7% economists expected. Core PCE, which strips out volatile food and energy prices, rose 0.2% on the month and 3.0% annually, against forecasts of 0.3% and 3.3%.
Myriad: When will Bitcoin hit a new all-time high? Click to make your prediction.Bitcoin reacted, pushing above $85,000 to a high of $85,598.94 before easing back to $84,376.09. The total market capitalization of the crypto ecosystem is up a bit, 0.6%, just below $3 trillion.
The PCE numbers change the October conversation. CME's FedWatch tool now shows a 62% chance the Fed holds rates and a 37% chance of a 25-basis-point hike.
Hike bets had already been fading of late, which bodes well for risk assets. A rate hike means higher borrowing costs across the economy, and it typically strengthens the dollar while lifting returns on cash and government bonds. Lower rates tend to increase market liquidity, which typically means more money flowing into investments like Bitcoin.
Cool is relative, though: 3.0% core inflation is still well above the Fed's 2% target.
The 10-year Treasury yield hit around 5.25% on Tuesday, its highest level since 2002. The S&P 500 lost 0.2% to 7,670.84, the Dow Jones fell 0.3% and the Nasdaq slipped 0.1%. Brent crude briefly topped $100 on Monday before easing to $96.16 as the U.S.-Iran conflict keeps disrupting shipments through the Strait of Hormuz. Consumer confidence hit a 12-year low, and August job openings came in at 7.08 million, below forecasts.
Even with Bitcoin proving strong, on Myriad, a prediction market built by Decrypt's parent company Dastan, traders aren't ready for a victory lap. The market asking when BTC will reach a new all-time high uses the previous record of $126,199.63 on Binance as the target. The odds of it happening before 2027 stand at just 7%. Bitcoin would need to climb about 50% in three months.
That said, traders are currently pricing in 49% odds that Bitcoin stays above $84,000 in the near term, with 21% odds it rises above $86,000 by Monday.
Bitcoin price: a rocket, then a breatherToday's daily candle opened at $83,624.30, touched a high of $85,598.94 and corrected to its current price of $84,376.09, up $751.62 or 0.9%.
That's a pause after a vertical run. Bitcoin dipped below the $75,000 line in mid-September, then exploded after a massive ETF inflow day on September 21, the biggest of 2026, and a wave of short liquidations sent it to $87,354, its highest price since January.
Over the past week it has bounced in a tight band between roughly $82,600 and $85,600.
The Average Directional Index, or ADX, measures how strong a trend is regardless of direction. Readings above 25 confirm a real trend, and BTC's 41.9 is a strong one, with the positive directional line above the negative one, meaning buyers are steering. The catch is that ADX lags. It's high because of the vertical move and can stay elevated even while price goes sideways, as it's doing now.
Exponential moving averages, or EMAs, track average prices while giving more weight to recent days. The 50-day EMA sits at $77,809.88, above the 200-day EMA at $74,423.93. When the shorter average is above the longer one, traders read the trend as bullish, and the ribbon on the chart flipped from red to green in September after BTC spent June through mid-August under the 200-day. Bitcoin’s current price is about 8% above the 50-day, which is a stretched gap. Traders often expect a retest of that average before the next leg.
The Relative Strength Index, or RSI, gauges buying versus selling momentum on a 0-100 scale. Above 70 is considered overbought, and below 30 oversold. At 63.4, buyers are in control but not exhausted, which leaves room for more upside before profit-taking typically kicks in.
Overall, the technical picture leans bullish on trend and momentum but is stalling under $85,599. Traders would want daily closes above that level, and ideally above $87,354, with ADX staying north of 25 for confirmation.
The inflation scare is off the table for now. The bond market's problem isn't. Notably, the post-PCE pop stalled at $85,599, the same ceiling that has capped Bitcoin all week. Cool data gave bulls a catalyst, but not yet a breakout.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Bitcoin futures open interest has climbed above $50 billion for the first time this year, fueling debate among traders and analysts over whether this signals a healthy expansion or rising risk in the market. David Lawant, head of research at Anchorage Digital, described this surge in open interest as evidence of market vitality and pointed to several technical indicators suggesting the Bitcoin market may be entering an early growth phase.
Market structure and rising dynamicsLawant emphasized that the current uptick in open interest is accompanied by rising spot trading volume and decreasing depth in order books, both of which he believes are early signs of a potential uptrend for Bitcoin. He suggested that these shifts in liquidity and trading activity reflect increased participation and growing interest from both retail and institutional investors.
Explaining the impact of these developments, Lawant noted that the Liquidity Absorption Ratio—a metric that measures how quickly the market digests large orders—has been shifting in recent weeks. Thinning order books can amplify price swings, and higher spot volumes often precede significant price movement, signaling a change in the prevailing market regime.
Options market and volatility insightsWith the Bitcoin options market now valued at around $60 billion, the volatility curve for short-dated contracts has remained elevated during 2026. Lawant indicated that elevated short-term volatility often occurs in periods when traders are uncertain about near-term price direction but expect significant movement ahead.
He also discussed Anchorage Digital’s experience running over 37,000 backtests for covered call strategies, finding that real-world option market insights often provide more nuanced data than price charts alone. Lawant highlighted that Bitcoin options data can reveal shifts in sentiment not yet reflected in spot prices.
ETFs, treasuries, and changing price discoveryLawant acknowledged that the emergence of Bitcoin Exchange-Traded Funds (ETFs) and the involvement of treasury-focused companies are having a notable impact on price discovery. These entities tend to execute large, strategic trades that can reshape order book dynamics and affect overall liquidity.
He indicated that the presence of institutional-grade products is contributing to new layers of complexity and maturity within Bitcoin markets. This institutionalization, Lawant argued, further supports the thesis that Bitcoin is entering a new, potentially bullish market regime.
Lawant identified a series of technical and structural shifts—rising spot trading volume, shrinking order book depth, and a $60 billion options market—as evidence for a developing uptrend and possible market regime change for Bitcoin.
Against this background of changing liquidity, investor behavior, and rapid market movements, tracking not only price but also market sentiment and participation can be crucial. In niche markets like meme tokens, an internet trend may quickly generate millions of dollars in activity. For instance, data from Fomo App highlights a recent trade in the “Niu Lai” meme token, where an individual turned a $99 initial investment into approximately $370,000. The platform enables users to monitor live token launches, social feeds, and investor rankings—all tools that can help market participants identify new trends as they emerge.
Overall, Lawant reiterated that the market’s current structure, alongside robust trading volumes and increased institutional presence, may signal the early stages of a new bullish cycle for Bitcoin.
In brief August core PCE rose 3.0% year over year against 3.3% expected, and headline PCE came in at 3.4% versus 3.7%. October rate-hike odds now sit at 34.9%. Bitcoin popped above $85,000 to a high of $85,598.94, then eased to $84,376, up 0.9%. That's still inside the range it has held since its September surge. On Myriad, traders put just 7% odds on Bitcoin topping its $126,199 all-time high before 2027, and ETF inflows have faded since their $2.4 billion week. Bitcoin is doing something Wall Street can't right now: staying calm.
The Federal Reserve's preferred inflation gauge, the PCE index, rose 0.3% in August and 3.4% from a year earlier, below the 0.4% and 3.7% economists expected. Core PCE, which strips out volatile food and energy prices, rose 0.2% on the month and 3.0% annually, against forecasts of 0.3% and 3.3%.
Myriad: When will Bitcoin hit a new all-time high? Click to make your prediction.Bitcoin reacted, pushing above $85,000 to a high of $85,598.94 before easing back to $84,376.09. The total market capitalization of the crypto ecosystem is up a bit, 0.6%, just below $3 trillion.
The PCE numbers change the October conversation. CME's FedWatch tool now shows a 62% chance the Fed holds rates and a 37% chance of a 25-basis-point hike.
Hike bets had already been fading of late, which bodes well for risk assets. A rate hike means higher borrowing costs across the economy, and it typically strengthens the dollar while lifting returns on cash and government bonds. Lower rates tend to increase market liquidity, which typically means more money flowing into investments like Bitcoin.
Cool is relative, though: 3.0% core inflation is still well above the Fed's 2% target.
The 10-year Treasury yield hit around 5.25% on Tuesday, its highest level since 2002. The S&P 500 lost 0.2% to 7,670.84, the Dow Jones fell 0.3% and the Nasdaq slipped 0.1%. Brent crude briefly topped $100 on Monday before easing to $96.16 as the U.S.-Iran conflict keeps disrupting shipments through the Strait of Hormuz. Consumer confidence hit a 12-year low, and August job openings came in at 7.08 million, below forecasts.
Even with Bitcoin proving strong, on Myriad, a prediction market built by Decrypt's parent company Dastan, traders aren't ready for a victory lap. The market asking when BTC will reach a new all-time high uses the previous record of $126,199.63 on Binance as the target. The odds of it happening before 2027 stand at just 7%. Bitcoin would need to climb about 50% in three months.
That said, traders are currently pricing in 49% odds that Bitcoin stays above $84,000 in the near term, with 21% odds it rises above $86,000 by Monday.
Bitcoin price: a rocket, then a breatherToday's daily candle opened at $83,624.30, touched a high of $85,598.94 and corrected to its current price of $84,376.09, up $751.62 or 0.9%.
That's a pause after a vertical run. Bitcoin dipped below the $75,000 line in mid-September, then exploded after a massive ETF inflow day on September 21, the biggest of 2026, and a wave of short liquidations sent it to $87,354, its highest price since January.
Over the past week it has bounced in a tight band between roughly $82,600 and $85,600.
The Average Directional Index, or ADX, measures how strong a trend is regardless of direction. Readings above 25 confirm a real trend, and BTC's 41.9 is a strong one, with the positive directional line above the negative one, meaning buyers are steering. The catch is that ADX lags. It's high because of the vertical move and can stay elevated even while price goes sideways, as it's doing now.
Exponential moving averages, or EMAs, track average prices while giving more weight to recent days. The 50-day EMA sits at $77,809.88, above the 200-day EMA at $74,423.93. When the shorter average is above the longer one, traders read the trend as bullish, and the ribbon on the chart flipped from red to green in September after BTC spent June through mid-August under the 200-day. Bitcoin’s current price is about 8% above the 50-day, which is a stretched gap. Traders often expect a retest of that average before the next leg.
The Relative Strength Index, or RSI, gauges buying versus selling momentum on a 0-100 scale. Above 70 is considered overbought, and below 30 oversold. At 63.4, buyers are in control but not exhausted, which leaves room for more upside before profit-taking typically kicks in.
Overall, the technical picture leans bullish on trend and momentum but is stalling under $85,599. Traders would want daily closes above that level, and ideally above $87,354, with ADX staying north of 25 for confirmation.
The inflation scare is off the table for now. The bond market's problem isn't. Notably, the post-PCE pop stalled at $85,599, the same ceiling that has capped Bitcoin all week. Cool data gave bulls a catalyst, but not yet a breakout.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Affluent investors already own crypto in large numbers, but very few appear willing to treat it like a conventional long-term wealth asset. More than 90% of affluent 18–25-year-olds surveyed by Nexo, a digital assets wealth platform, say they own some crypto, but a low 2% of them report owning it for 10-years or more. The Nexo survey, released on Sept. 23, suggests that Bitcoin (CRYPTO: BTC) ownership does not equal conviction about long-term wealth building via cryptocurrencies.
Nexo argues that the biggest barriers to wider crypto adoption are increasingly practical ones, including security concerns, high fees and complicated platforms. Its survey report, the "Future of Digital Wealth 2026", released last week, suggests that broader perceptions of crypto as inherently risky are becoming less of a differentiating factor among more experienced investors. Still, crypto theft remains a major industry issue, with losses continuing to mount, according to blockchain security firm CertiK.
"In our data, risk perception barely separates investors who’ve built real wealth with crypto from those who haven’t," said Iliya Kalchev, an analyst at Nexo. "What actually divides them is whether they’ve substituted crypto for a traditional asset and folded it into retirement planning," Kalchev said in a press release about their new survey. For affluent investors, the main issue is future planning with crypto, and the smoothness of operating within the existing platforms.
Nexo released their new Crypto Integration Index (CII), a 1-to-10 measure gauging how digital assets are included in an investor’s financial plans – including percentage of crypto in their overall investment portfolio, holding horizon, substitution of traditional securities with crypto products, and whether or not they hold crypto in a retirement fund. Two-thirds of affluent investors surveyed (around 67%) said they hold crypto, but the average CII score was 4.83, suggesting wealthy investors are exposed to crypto, but more as a short term speculative asset than long term strategic hold. Less than 20% of respondents said they expect crypto to be their number-one personal wealth driver over the next 10 years, ahead of salary, equities, and real estate.
The seven-year old company has roughly $7 billion in assets under management with more than $430 billion in trades processed since inception.
Among the most crypto-integrated investors, Nexo survey respondents said the leading problems for them were security at 36%, high fees at 34%, and platform complexity at 28%.
Crypto Investing: A Generational DivideCryptocurrencies may increasingly have a conviction-to-integration problem, but surveys from traditional financial firms suggest the real gap is a mix of investment risk, regulation and tax complexity and institutional infrastructure, which may allude to what Nexo refers to as platform frictions.
Among affluent investors, crypto conviction and interest have broadened, especially among younger wealthy and tech savvy investors. A Bank of America 2024 survey finds unusually strong crypto interest among younger high net worth investors, while Fidelity’s 2024 investor survey identified price volatility as the leading obstacle. Wealthier family-offices are sitting this market out. J.P. Morgan’s 2026 Global Family Office report finds 89% have no crypto exposure, alongside broader concerns about market disruption and regulatory/tax complexity.
There are investors who believe crypto has value and are willing to make it a structural part of their portfolio. But investment bank research provides some evidence for a gap between "crypto has value" and "is worth the long term hold."
Fidelity & JPM’s Take on Crypto ‘Hodlers’Although the study is two years old, Fidelity’s survey did ask investors not too long ago what they felt were the core obstacles to investing in cryptocurrencies. Their sample explicitly includes affluent investors and the family offices that manage multi-million dollar portfolios. It found that 53% of investors said price volatility was the most prevalent obstacle. Still, some 65% said they planned to buy or invest in digital assets anyway.
More than one-quarter of Fidelity’s respondents said their perception of digital assets had improved over the prior year, even though Fidelity characterized 2023 as a period marked by volatility, scandals/bad actors and negative media coverage. There is also an important timing qualification to their survey. It was conducted in 2023, before U.S. spot Bitcoin ETFs began trading in early 2024.
For JP Morgan, 89% of surveyed family offices reported no cryptocurrency exposure. Even gold was more widely held than Bitcoin. J.P. Morgan summarized the finding as evidence that family offices remain reluctant to add Bitcoin despite the narrative of it being "digital gold" (Famed crypto bear Peter Schiff disagrees with that comparison) and an inflation hedge.
The lack of crypto exposure among the ultra wealthy (over $1 billion in AUM for JPM’s 2026 survey target) exists even though these are sophisticated investors and asset managers. Making simple retail-style upgrades such as app usability is not a persuasive reason to get that class of investor into crypto.
"Even with geopolitical risks rising, most family offices remain hesitant to add gold and crypto," report authors wrote.
Crypto platforms say wealthy investors no longer need convincing, just an easier way to invest in digital assets. But independent wealth surveys tell a more complicated story, with volatility and regulatory complexity still weighing on allocations even as younger millionaires embrace crypto.
Crypto has won a place in many wealthy investors’ portfolios, but not necessarily in their wealth plans, Nexo says.
Surveys from Bank of America, Fidelity and J.P. Morgan suggests the remaining divide runs through risk tolerance, regulation uncertainty and portfolio infrastructure rather than a lack of enthusiasm for digital assets.
In a Sept. 18 interview with The Block, Kevin O’Leary said he was getting back into crypto as the bear market may be coming out of hibernation finally.
"I’m back in the saddle buying new positions, putting my bets on for this next cycle," he said, adding that he believes the next "watershed moment" will be a major stock exchange adopting blockchain infrastructure. That’s part of the Nexo argument.
Brian Armstrong, CEO of Coinbase (NASDAQ:COIN) said in an earnings call this month that "the largest (globally systemically important) banks in the world are building on our infrastructure." Armstrong’s quote shows adoption migrating from merely owning crypto toward traditional financial institutions actually using crypto infrastructure to make it easier to do so.
If today’s financial plumbing creates friction, tokenization and institutional infrastructure can remove it, Larry Fink of BlackRock wrote recently in his Chairman’s Letter.
"Half the world’s population carries a digital wallet on their phone," Fink wrote. "Imagine if that same digital wallet could also let you invest in a broad mix of companies for the long term—as easily as sending a payment. Tokenization could help accelerate that future by updating the plumbing of the financial system and making investments easier to issue, easier to trade, and easier to access."
*The writer owns Bitcoin. Artwork created by the author using Canva.
Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.
Sen. Cynthia Lummis (R-Wyo.) on Tuesday cited partisan divisions over President Donald Trump as reason why the CLARITY Act failed its procedural vote, arguing that more than a year of bipartisan negotiations ultimately gave way to politics.
"Democrats hate President Trump more than they like good policy," Lummis said during a CoinDesk industry event.
Lummis: Only Senators Are to BlameLummis entered the Senate floor vote believing the bipartisan negotiations, with 126 substantive changes incorporated requested by Democrats, had put the bill in a strong position.
Instead, the motion to proceed failed to secure the votes needed to advance as every Senate Democrat opposed the motion.
"I was dismayed, dumbfounded and saddened that we couldn’t move past cloture into voting on the bill," Lummis expressed.
She rejected arguments that the crypto industry or Coinbase CEO Brian Armstrong should shoulder responsibility for the outcome, saying ultimately only senators could determine whether the legislation advanced.
Lummis attributed the breakdown partly to Democratic opposition surrounding Trump and his crypto activities.
Lawmakers allowed their views of the President to outweigh what she viewed as the merits of the legislation.
Democrats and some Republicans had raised concerns ahead of the vote and the final proposal incorporated much of a separate ethics framework and gave state attorneys general an enforcement role.
Why the Focus Should Be on the SEC, CFTCWith the CLARITY Act stalled, Lummis urged the industry to focus on regulators rather than wait for Congress.
"I strongly encourage you to work with the SEC and the CFTC," Lummis advised, as both agencies are preparing regulatory frameworks within the authority granted by existing law.
She acknowledged that agency rulemaking cannot provide the same durability as legislation, but regulators could still establish clearer rules for crypto businesses operating in the U.S.
Lummis, who is preparing to leave the Senate, hopes the CLARITY Act could eventually return even if its immediate path has closed.
"Hopefully someday the CLARITY Act will get dusted off," she concluded.
Bitcoin has climbed back above $73.3K, and the people who bought most recently are finally in the green. On-chain data shows short-term buyers now hold an average profit of about 13%.
A modest cushion, not a jackpot The key figure is cost basis, the average price a group of investors paid for their coins. When the market trades above that level, the group is in profit and has little reason to dump. When the market falls below it, underwater holders start looking for a way out.
Analysis through 2026 has found that short-term holder cost-basis levels cluster between roughly $63K and $73K. One reference point sits near the top of that range: the 3-6 month cohort has an average cost basis around $73.19K.
With Bitcoin now above $73.3K, the price is sitting just over that line. The broader short-term group shows the 13% average gain. The 3-6 month buyers are barely breaking even.
The same 13%, in a very different market In mid-to-late July 2025, CryptoQuant data showed short-term holders in the 1-3 month bracket carrying almost the same average unrealized profit, about 13%. Bitcoin was trading above $118K back then, and that cohort’s realized purchase price sat around $104K.
CryptoQuant analysts argued at the time that thin profit margins can actually limit panic selling. Their logic: when buyers sit only slightly above their entry price, they have little incentive to cash out early. Aggressive selling tends to show up only when the price slips below the cohort’s cost basis, which in July 2025 meant a drop under $104K.
How this cycle compares to past tops Historical data puts the current gains in perspective. At the 2012 market peak, short-term holders sat on average profits of 232%. At the 2021 top, the figure was 150%. The 2025 cycle peak reached just 69% by the same measure.
What this means for the market The $73.3K level matters because it sits so close to the 3-6 month cohort’s cost basis of roughly $73.19K. A cost-basis level like that often works as a pivot. Above it, the level can act as support, since holders defend their breakeven. Below it, the same level can turn into resistance, as trapped buyers sell into any rally to escape.
That makes the $63K to $73K band the zone to watch. If Bitcoin holds above it, the short-term holder base stays mostly profitable. If the price slides back into or below that range, the 13% cushion disappears quickly, and the risk of capitulation rises.
Across 2026, short-term holder profitability streaks and cost-basis levels have become common tools for judging whether the market is recovering. The reason is simple: they measure pain directly. Price tells you where the market is. Cost basis tells you how many people are hurting at that level.
The 13% figure also shows how much the market has reset. In July 2025, the same margin came with a six-figure price tag and a $104K cost basis. Now it arrives with Bitcoin in the low $70K range.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Dutch people could soon be paying tax on their bitcoin gains — if they sell.
The Dutch government on Tuesday announced that it was planning to introduce a capital gains tax starting from 2028.
If approved, gains on investments would be paid when they are realized, rather than imposing levies on assumed returns or unrealized increases in value, a Tuesday the Dutch cabinet to the House of Representatives read.
“The earning capacity of the Dutch economy calls for a way of taxing wealth that facilitates investment,” the letter read.
It added that most financial instruments would be taxed from 2028 while remaining assets would transition two years later. The letter wasn’t clear whether digital assets would be taxed in 2028 or from 2030.
Bitcoin and digital assets in the Netherlands are currently taxed based on an assumed annual yield rather than your actual or realized profits. Tax authority currently assumes assets earned a notional 4% return, regardless of what you actually earned.
Regulations in Europe regarding crypto and taxes are mixed but on the whole stricter than the U.S.
Since January, the European Union’s DAC8 directive has required crypto exchanges to collect detailed data on their users and transactions and report it to national tax authorities, much like banks already do for ordinary accounts.
But not all countries within the trading bloc are strict: Germany still exempts crypto held for more than a year, and Portugal does the same after 365 days.
Mathew Di Salvo
Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.
The crypto market remains supported by expanding institutional access, including ETFs and tokenized Treasuries, although elevated yields and persistent inflation means the backdrop remains uncertain.
A softer-than-expected reading of the Federal Reserve's preferred inflation gauge is reducing expectations for another interest rate hike in October, potentially providing a tailwind for bitcoin and other risk assets.
The latest PCE price index for August showed headline inflation rising 0.3% from July and 3.4% year-over-year, while core PCE rose 0.2% month-over-month and 3% annually.
"A 0.2% monthly rise in core PCE prices is welcome news for the Fed," said Brendan Ma, head of investment strategy at the Arbitrum Foundation. "If September CPI points the same way, the pressure for an October hike eases."
Martin Lee, market insights lead at DWF Labs, said the softer reading could reduce the risk of another Fed hike and could shift positioning toward the upside. Bitcoin volatility remains near its yearly lows, while options skew is broadly neutral, he said, suggesting investors were not heavily positioned for either direction ahead of the inflation data.
A gentler rate path could support digital assets and equities, although elevated Treasury yields remain a headwind for risk assets. K33 analyst Vetle Lunde said bitcoin is being held back by surging yields, which are "pushing investors away from risk," while the cryptocurrency continues to consolidate after posting its highest weekly close since January.
Bitcoin (BTC) traded around $83,700 at the time of publication, up less than 1% over the past 24 hours. Ether (ETH) was around $2,700, while XRP (XRP) fell about 2% to $1.50. Ether is on course for a nearly 70% third-quarter gain, while XRP is set to finish the quarter more than 40% higher.
The broader crypto market has also shown signs of profit-taking.
"Some profit-taking pressure is emerging, with seven-day altcoin inflow transactions to exchanges reaching their highest level since October 2025," said Iliya Kalchev, an analyst at Nexo Dispatch.
Ma also said a gentler rate path could eventually ripple into the tokenized Treasury market. As short-dated Treasury bills mature, holders of those products would face lower yields if they rolled them over, which could push some of that capital toward higher-returning assets, including crypto.
Bitcoin traders are having a very good quarter. Their profit and loss margin has climbed to 30.7%, the highest reading since December 2024.
The timing matters because Bitcoin recently pushed toward an eight-month high of around $87,400. When prices run and paper gains pile up, the next question is simple: who blinks first?
The numbers behind the margin The profit and loss margin tracks how far traders’ holdings sit above what they paid. At 30.7%, the average trader in this cohort is comfortably in the green.
A closer look at short-term holders shows an even bigger cushion. Data from CryptoQuant, shared by Head of Research Julio Moreno on September 26, 2026, put the unrealized profit margin for traders holding Bitcoin for one to three months at approximately 33%.
That figure also marks the peak since December 2024. So traders who bought within the last quarter are, on average, up roughly a third on paper.
On September 22, Bitcoin holders booked net profits of 25,700 BTC, according to the CryptoQuant analysis. That was the largest single-day profit realization recorded in 2026. It arrived during the same rally that carried Bitcoin close to its eight-month high.
A bull market with some fatigue Bitcoin posted a weekly close above its 365-day moving average, which sits at $80,000, confirming it remains in a bull market.
Underneath the headline strength, CryptoQuant’s analysis points to rising sell-side pressure tied to profit-taking. Other indicators flag weakening spot demand and a slowdown in futures growth.
Where this leaves the market The 25,700 BTC profit day on September 22 shows that appetite to sell already exists. If a large share of short-term holders sell at roughly the same time, the added supply could push prices lower and stir up volatility.
Short-term holders matter here because they tend to react faster than long-term investors. They bought recently, often with shorter time horizons. A 33% paper gain looks a lot more tempting to someone holding for weeks than to someone holding for years.
Two support levels stand out in the analysis. The first is the 365-day moving average at $80,000. The second is the 200-day moving average near $71,000. If Bitcoin dips but holds above those lines, the move reads as consolidation inside an ongoing uptrend. If those levels break, the story shifts from “taking a breather” to “something is actually wrong.”
For traders, the practical watchlist is short. Keep an eye on whether realized profits keep spiking after the September 22 record. Watch whether spot demand stabilizes or keeps fading. And track how price behaves around $80,000, since that level is doing a lot of the work in the current bull case.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
A UK court has ordered Paul Chowles, a former officer with the National Crime Agency (NCA), to pay £1,810,678.93, approximately $2.4 million, after he was found guilty of stealing Bitcoin seized during an investigation into the Silk Road 2.0 dark web marketplace.
Confiscation order tied to surging Bitcoin valueThe Crown Prosecution Service (CPS) secured the confiscation order against Chowles on Wednesday under the Proceeds of Crime Act 2002. Authorities recovered 30 of the original 50 Bitcoin, but the order covers the total value of the stolen cryptocurrency, reflecting the significant increase in Bitcoin’s price since 2017. When Chowles committed the theft, the coins were valued at approximately £60,000, or $77,000.
Chowles, 44, from Bristol, was responsible for analyzing and extracting cryptocurrency from digital devices during the Silk Road 2.0 investigation. The dark web marketplace, launched by Thomas White shortly after the FBI closed the original Silk Road in 2013, became a major focus of law enforcement.
The stolen Bitcoin originated from an address linked to Thomas White’s own reserve. Chowles moved the total of 50 Bitcoin from a confiscated wallet over two days in May 2017, splitting the amount and attempting to disguise its path.
Mini dictionary: Silk Road 2.0 was a successor to the original Silk Road darknet market, allowing users to buy illicit goods using cryptocurrencies. Launched by Thomas White in 2013, it operated until law enforcement action led to its shutdown and asset seizures.
To mask the trail, Chowles routed the funds through Bitcoin Fog, a mixing service designed to obscure cryptocurrency transactions, and then withdrew funds to debit cards issued by Cryptopay and Wirex. Over 279 separate transactions, he cashed out a total of £144,580.
YearBTC StolenBTC Value at TheftRecovered BTCRepayment Ordered201750£60,000 / $77,00030£1,810,678.93 / $2.4 millionInvestigation and legal processThe coins remained unaccounted for several years, with suspicion initially falling on White. He denied involvement, and by late 2021, the missing cryptocurrency was considered untraceable. However, a police search of Chowles’ home in 2022 recovered devices containing the wallet’s private keys. Merseyside Police, with assistance from blockchain analysis firm Chainalysis, traced the coins’ flow through the mixing service.
Chowles pleaded guilty at Liverpool Crown Court to theft, transferring criminal property, and concealing criminal property. He received a sentence of five years and six months in July 2025 and was dismissed by the NCA shortly after.
An additional compensation order was granted for the victim. The CPS noted that, over the past five years, more than £530 million has been recovered through confiscation orders, with upwards of £102 million returned to victims.
Exploiting trust and agency responseChowles, who worked as an operational officer at the NCA, was charged with 15 criminal offences linked to the 2017 theft. The case was investigated by Merseyside Police, with Chowles accused of exploiting his trusted position during an online crime operation.
Paul Chowles exploited a position of trust for personal gain, stealing assets already recovered through law enforcement action. The CPS Proceeds of Crime Division has pledged to pursue offenders’ assets relentlessly.
The agency reiterated its commitment to recovering proceeds of crime and holding offenders accountable. Chowles’ conviction highlights increased scrutiny within agencies dealing with digital assets and ongoing efforts to recoup stolen funds.
Crypto analyst Rekt Capital stated that the $82,500 level is critically important in Bitcoin’s short-term outlook. According to the analyst, Bitcoin is likely to continue fluctuating around $82,500 until the September monthly candle close.
Rekt Capital stated that if Bitcoin closes below approximately $82,500 on a monthly basis, the likelihood of a shallow pullback and/or sideways consolidation increases. Conversely, if the monthly close is above $82,500, Bitcoin would need to retest this area in October and establish it as support to confirm the continuation of the uptrend.
The analyst noted that the critical retest in the current price movement appears to have been successful so far. The shared weekly BTC/USD chart shows Bitcoin finding support just above $80,000 and trading around $84,000.
According to Rekt Capital, for Bitcoin to maintain its upward trend over time, it needs to remain stable above the lows of $80,000. If this stability is lost, the Bitcoin price could return to the broad macro price range of $60,000 to $80,000, entering a new consolidation phase there.
*This is not investment advice.
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Bitcoin’s price rose — albeit slightly — on data Wednesday showing that inflation had risen slower than expected.
The Fed’s main inflation gauge, the personal consumption expenditures price index, increased in August by 3.4% on headline and 3% for core — both well below estimates.
Bitcoin’s price recently stood at $84,246 after jumping as high as $85,518 at one point Wednesday morning in New York.
The news means the Federal Reserve is less likely to hike interest rates in October. High inflation is causing the U.S. central bank to take a more hawkish approach to managing monetary policy.
In his first speech since he became Fed chair, Kevin Warsh in August said the U.S. central bank had “more work to do” to fight inflation.
Then, in September, the bank raised interest rates. “The plain fact is that inflation is too high, and has been for too long,” Warsh said at the time.
Still, bitcoin’s price appeared to shrug off the move and had a good run in the week following the central bank’s move.
The coin surged as high as $87,158 earlier this month. Some analysts have said that investors are shrugging off the move as they don’t expect the Fed to change policy and start hiking rates successively.
Bitcoin has rallied since the U.S. Treasury announced plans to more than double the size of its government debt repurchases.
Bitcoin’s price has in the past performed well in a low interest rate environment, along with other “risk-on” assets.
U.S. President Donald Trump has repeatedly put pressure on the Federal Reserve to lower interest rates.
Last year, Trump threatened to fire ex-Fed Chair Jerome Powell and said he did a “bad job” for not lowering interest rates.
Mathew Di Salvo
Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.
In brief Bitcoin ETFs took in $66.19 million on Sept. 29, their ninth straight day of net inflows. The Sept. 17–29 run has drawn about $3.08 billion, edging past the roughly $3.04 billion pulled in during August's nine-day streak. Bitcoin traded near $84,400 on Wednesday, below its September high near $87,350, while daily inflows have shrunk from $999 million on Sept. 21 to $66 million. Bitcoin is grinding higher, and the ETF buyers keep showing up.
U.S. spot Bitcoin ETFs took in $66.19 million on Tuesday, their ninth straight session of net inflows, according to Decrypt’s Bitcoin ETF tracker. Bitcoin changed hands near $84,400 on Wednesday, up roughly 1% on the day, recovering Monday’s losses.
Myriad: When will Bitcoin hit a new all-time high? Click to make your prediction.The run began on Sept. 17 and has pulled in about $3.08 billion, based on Decrypt data. That edges out August's nine-day streak, which ran from Aug. 17 to Aug. 27 and totaled roughly $3.04 billion.
So the streaks tie on length. This one wins on dollars, by about $33 million. Hardly a landslide, but notable nonetheless, considering the August rally is widely considered to have pulled Bitcoin out of the bear market.
Bitcoin ETF net flows. Image: DecryptBitcoin ETFs allow investors to gain exposure to the asset without buying BTC directly from a crypto exchange or holding it in a wallet. ETFs track the price and trade like stocks on brokerage apps. They’ve been widely popular since first launching two and a half years ago, and market observers look to their flows—both in and out—as a reliable sentiment indicator.
And that sentiment has shifted quite dramatically within recent weeks.
On Sept. 16, the Federal Reserve raised rates by 25 basis points to 3.75%–4%, its first hike since 2023. Traders had put the odds at nearly 93% beforehand. Rising interest rates spook investors in risk assets, such as Bitcoin, as “cheap money” becomes more scarce.
Bitcoin slid to about $75,000 that week, and the ETFs had just bled roughly $746 million over two days. Then flows flipped on Sept. 17 with $159.5 million, and Bitcoin was back above $80,000 within two days.
The money then arrived fast. Inflows hit $999 million on Sept. 21, and the week ending Sept. 25 drew $2.4 billion, the biggest weekly haul since October 2025. That pushed the funds back into positive territory for 2026.
The macro backdrop hasn't gotten easier. Bitcoin's summer rebound traces to Aug. 19, when the Treasury said it would double its longer-dated bond buybacks to at least $4 billion per operation. Bitcoin reached $69,000 that day for the first time in two months.
It is now about a third below its October 2025 record of $126,296.
The current run still trails the 13 straight days from June 2025. Matching that would take inflows through Monday, Oct. 5.
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In brief Bitcoin ETFs took in $66.19 million on Sept. 29, their ninth straight day of net inflows. The Sept. 17–29 run has drawn about $3.08 billion, edging past the roughly $3.04 billion pulled in during August's nine-day streak. Bitcoin traded near $84,400 on Wednesday, below its September high near $87,350, while daily inflows have shrunk from $999 million on Sept. 21 to $66 million. Bitcoin is grinding higher, and the ETF buyers keep showing up.
U.S. spot Bitcoin ETFs took in $66.19 million on Tuesday, their ninth straight session of net inflows, according to Decrypt’s Bitcoin ETF tracker. Bitcoin changed hands near $84,400 on Wednesday, up roughly 1% on the day, recovering Monday’s losses.
Myriad: When will Bitcoin hit a new all-time high? Click to make your prediction.The run began on Sept. 17 and has pulled in about $3.08 billion, based on Decrypt data. That edges out August's nine-day streak, which ran from Aug. 17 to Aug. 27 and totaled roughly $3.04 billion.
So the streaks tie on length. This one wins on dollars, by about $33 million. Hardly a landslide, but notable nonetheless, considering the August rally is widely considered to have pulled Bitcoin out of the bear market.
Bitcoin ETF net flows. Image: DecryptBitcoin ETFs allow investors to gain exposure to the asset without buying BTC directly from a crypto exchange or holding it in a wallet. ETFs track the price and trade like stocks on brokerage apps. They’ve been widely popular since first launching two and a half years ago, and market observers look to their flows—both in and out—as a reliable sentiment indicator.
And that sentiment has shifted quite dramatically within recent weeks.
On Sept. 16, the Federal Reserve raised rates by 25 basis points to 3.75%–4%, its first hike since 2023. Traders had put the odds at nearly 93% beforehand. Rising interest rates spook investors in risk assets, such as Bitcoin, as “cheap money” becomes more scarce.
Bitcoin slid to about $75,000 that week, and the ETFs had just bled roughly $746 million over two days. Then flows flipped on Sept. 17 with $159.5 million, and Bitcoin was back above $80,000 within two days.
The money then arrived fast. Inflows hit $999 million on Sept. 21, and the week ending Sept. 25 drew $2.4 billion, the biggest weekly haul since October 2025. That pushed the funds back into positive territory for 2026.
The macro backdrop hasn't gotten easier. Bitcoin's summer rebound traces to Aug. 19, when the Treasury said it would double its longer-dated bond buybacks to at least $4 billion per operation. Bitcoin reached $69,000 that day for the first time in two months.
It is now about a third below its October 2025 record of $126,296.
The current run still trails the 13 straight days from June 2025. Matching that would take inflows through Monday, Oct. 5.
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Federal prosecutors in Massachusetts have opened a civil forfeiture case aimed at recovering digital assets they say are connected to a 2023 account takeover that drained 33.7 bitcoin from a single Coinbase (NASDAQ:COIN) login.
According to court papers, a beneficiary of a Massachusetts family trust was already emailing Coinbase about opening a separate account for the trust when two text messages arrived on June 1 and June 2, 2023.
The messages appeared to come from the exchange.
At that moment, the beneficiary and the trust each held a wallet inside one Coinbase account controlled by the beneficiary.
Combined, those wallets held 33.7 BTC, then worth about $900,000. The trust wallet alone contained 28.5 BTC.
Prosecutors allege the texts prompted the beneficiary to hand over a username, password, and other access details.
With that information, unknown actors moved the entire 33.7 bitcoin to other wallets without the owners’ knowledge or consent.
Coinbase’s own security guidance states that its employees never request passwords or two-step verification codes.
Investigators later followed 11.2 of the stolen coins to a Binance account opened in late May 2023 in the name of Enrique Mora Morales through Binance Spain.
Six deposits totaling just over 11.20 BTC arrived between June 5 and June 15, 2023. Some of the bitcoin was quickly swapped into Monero, a privacy-focused coin, before remaining value was converted into Tether.
At the FBI’s request, Binance froze the account.
A seizure warrant followed, and roughly 110,270 USDT was transferred to a government-controlled wallet in August 2026.
Prosecutors value that seized Tether at about $47,000 and now ask a federal court to forfeit it as property traceable to wire fraud proceeds.
Civil forfeiture does not require a criminal conviction of a named defendant.
The government proceeds against the assets themselves.
Anyone claiming an interest in the seized tokens can file a claim and contest the action.
The complaint emphasizes that the allegations have not been proven in court.
The episode illustrates how impersonation by SMS can collapse account security even when a customer is already speaking with a legitimate exchange. Because cryptocurrency transfers are difficult to reverse, a brief lapse in verification can move large sums beyond easy recovery.
Authorities recovered only a fraction of the original 33.7 BTC, underscoring both the value of blockchain tracing and its limits once funds pass through mixers or privacy coins.
Users are repeatedly advised to ignore unsolicited texts that claim to be from Coinbase, never share login credentials or codes, and confirm any account issue only inside the official app or by typing the company’s web address themselves. The Massachusetts filing is one of several recent civil actions in the district seeking to claw back crypto tied to frauds that targeted local victims.
On-chain analytics platform Glassnode reported that the Bitcoin price continues to remain above significant cost floors, but weakening spot ETF inflows, low trading volume, and accumulated sell orders in the $85,000-$85,500 region are limiting the upside.
According to Glassnode’s latest assessment, spot Bitcoin ETFs traded in the US saw net inflows of approximately $1 billion on two separate days in the latter part of September. However, this strong demand subsequently weakened significantly, and the Bitcoin price began to exhibit a sideways trend.
The report noted that investor profit-taking remains at a low level compared to past market peaks. However, it highlighted that long-term Bitcoin investors increased their selling this week.
While Bitcoin has outperformed the S&P 500 index on most of the last 30 trading days, it has been noted that Bitcoin experienced a sharper decline compared to stocks during this week’s pullback.
According to Glassnode, the most important resistance zone in the short term is between $85,000 and $85,500. It is noted that concentrated sell orders in this region are putting pressure on the Bitcoin price, while the first significant support level on the downside is indicated as the “Real Market Average” level at $77,200.
The report also added that total Bitcoin trading volume is near the lower end of the range seen since the launch of US spot Bitcoin ETFs. Glassnode stated that the low volume indicates that the current bullish movement is still in its early stages and largely speculative in nature.
The altcoin market, however, has shown stronger performance compared to Bitcoin over the past month. Glassnode notes that the rise in altcoins occurred without excessive speculation or new leverage accumulation, but also states that this movement has lost momentum in the last week.
*This is not investment advice.
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Bitcoin is trying to stay above the $83,000 level, and according to a technical analyst tracking the chart, this is actually working out well for many altcoins. Almost every day right now, a different altcoin is breaking out. Today saw a few small pullbacks, but nothing serious. As long as Bitcoin holds above this level, that trend could keep going.
Bitcoin’s Bigger Picture Still Looks Strong
Looking at the bigger trend since Bitcoin’s low back in July, the analyst says Bitcoin has already met the basic requirements of a strong upward move, meaning price has been making higher highs and higher lows. If this move stretches a bit further, he’s watching three resistance levels above, $88,600, $92,200, and $97,637.
But he was clear about one important thing. If Bitcoin breaks clearly below the $83,000 area, not just a brief dip, but a real, confirmed break, that would shift attention down to the next support zone instead.
Why This Isn’t Quite “Altcoin Season” Yet
Even though some altcoins are performing really well right now, the analyst says it’s too early to call this a full-blown altcoin season. He’s watching something called Bitcoin dominance, basically how much of the total crypto market Bitcoin takes up compared to altcoins.
Right now, that number is stuck moving sideways in a range, not clearly falling. If Bitcoin dominance does eventually drop below 58%, he says that would be the real signal that a genuine altcoin rally has started. Until then, what we’re seeing is more like scattered strength in individual altcoins, not the whole market moving together.
The Exact Levels Traders Are Watching
On the shorter-term chart, the analyst is watching a support zone between $81,600 and $82,937, an area tied to Bitcoin’s old high from back in May. Price briefly dipped just below this zone earlier in the week, but buyers quickly stepped back in, which he says shows this support is still holding strong rather than breaking down.
He explained what a real, meaningful breakdown would actually look like: either Bitcoin breaks support and then keeps trading below it, or it breaks support, bounces back briefly, and then breaks down again. A quick dip followed by an immediate recovery, like what happened this week, doesn’t count as a real breakdown.
On the upside, he’s watching for a move back above $85,140 as a sign that buyers are firmly back in control, with resistance expected between $85,140 and $86,960.
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Bitcoin (CRYPTO: BTC) and XRP (CRYPTO: XRP) pared back Wednesday’s gains as cooler-than-expected inflation data collided with surging oil prices, leaving traders caught between two opposing signals.
What the Data Actually ShowedCoinDesk reported Wednesday that core PCE prices rose just 0.2% in August against a 0.3% forecast, with the year-over-year reading at 3.0% versus the 3.3% estimate.
Widely-followed market commentator Bull Theory flagged one caveat: the BLS changed how it measures advisory fees, software, and legal services, a shift analysts estimate cut up to 20 basis points off core PCE.
Still, he argued the cooler reading isn’t purely a methodology artifact.
Why the Rally Didn’t HoldNot every signal pointed the same direction, and that’s likely why crypto gave back its initial pop. GDP grew 2.2% annualized in Q2, beating the 1.5% forecast, and consumer spending jumped 0.6% in August, its biggest gain since March 2025.
Friday’s jobs report is the last major data point before the Fed meets, leaving traders stuck between a Fed that may not need to hike and an economy that isn’t exactly cooling either.
Brent Crude is up 3% on the day, with no resolution to the conflict in the Middle East in sight.
Bull Theory posted separately on X that Bitcoin surged above $85,000 and Ethereum (CRYPTO: ETH) reclaimed $2,700 as PCE inflation hit a six-month low, with over $75 million in shorts liquidated in 60 minutes.
That initial spike has since faded, with BTC settling back around $84,000 and XRP near $1.50.
What the BTC and XRP Charts SayBTC is trading flat after tagging a high of $85,599 earlier in the session. Price holds firmly above every key EMA, with RSI at 61.72 still showing constructive momentum despite the pullback from session highs.
Resistance: $85,600, then $87,600 Support: $82,100 (20-day EMA), then $80,700 Meanwhile, XRP (CRYPTO: XRP) is up 0.5% after tagging $1.54, still capped by the descending trendline from August’s spike high near $1.70.
RSI at 58.57 reflects steady momentum with room to build.
Resistance: $1.54, then $1.60 Support: $1.46 (20-day EMA), then $1.40 Photo via Shutterstock
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The latest U.S. inflation data, which the market had been eagerly awaiting, brought an unexpected boost to cryptocurrency derivatives markets. The August report on the core personal consumption expenditures (PCE) index showed that price pressures in the U.S. economy remain persistent: prices for more than half of the components in the PCE basket are still rising faster than the target rate.
However, despite stubborn inflation and a tough macroeconomic backdrop, Bitcoin and the largest altcoins triggered a powerful wave of buying activity that completely overwhelmed sellers.
Liquidation heatmap and total liquidations dashboard showing market metrics, Source: CoinGlassEven though prices for more than half of the components in the PCE basket are still rising faster than the target rate, short sellers instantly found themselves trapped. The market interpreted cooling inflation as a green light for risk assets, triggering a cascade of forced liquidations of leveraged positions.
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According to analytics platform CoinGlass, the market steamrolled 73,709 traders over 24 hours, wiping out $259.12 million in positions. The epicenter of the catastrophe was an extreme one-hour imbalance: when the data was released, short liquidations surged to $82.61 million, while longs lost a mere $3.09 million. This 2,633% imbalance turned an ordinary price move into a classic macroeconomic short squeeze.
Plenty of reasons to sell, zero actual sellers. What is happening with crypto right now.The main drivers of the rally, absorbing most of the sellers' liquidity, were three key assets: Bitcoin, Ether, and XRP.
Bitcoin, which maintains a firm hold on nearly 59% of the entire crypto market, reached $83,825.17 at the peak of the move. Bitcoin short sellers accounted for more than $51.69 million in losses over 24 hours. The hardest hit came on the HTX exchange, where a single BTC-USDT position was forcibly liquidated for $6.91 million.
Ether, the second-largest cryptocurrency, contributed a substantial $16.39 million to total liquidations despite an intraday dip to $2,679.29. XRP then fell into the grip of the short squeeze: after settling at $1.4975, Ripple's token accounted for a share of triggered stop orders alongside the most volatile altcoins.
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This short squeeze exposed the central paradox of the current market: Bitcoin has plenty of reasons to fall. U.S. stocks have stopped rising, oil is insanely expensive, the yield on 10-year U.S. Treasury bonds is hovering around 5.2%, and the CLARITY Act's failure in the Senate should have sent crypto plunging. But after a brief move lower, Bitcoin held firm and returned to its previous levels.
The asset's resilience in the face of bad news shows that institutionalization has already taken place through ETFs, major banks, and funds that have entered the market for the long term and are developing the sector regardless of Congress's decisions. There appear to be regulatory and macroeconomic reasons to sell, but there are simply no actual sellers in the market, and year-end is approaching — the time when funds will start allocating fresh money to strategies for 2027.
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The crypto market cap is finally moving beyond the accumulation range that has defined much of the year, with total market value around $2.86 trillion. The move comes as the business cycle starts expanding, according to the market analysis by an analyst Dan Gambardello.
Crypto Market Cap Moves Beyond Year-Long RangeThe latest setup focuses less on CZ’s “Soon…” post and more on what the charts are showing. His September 29 post was heavily reposted across crypto Twitter, but its meaning wasn’t specified.
The bigger signal is the crypto market cap breaking out of its long-running accumulation range. The analysis frames February 2026 as the start of the accumulation phase, with current market-cap action suggesting that sideways trading may be ending.
Ethereum Charts Add Another LayerEthereum is also central to the setup, with its accumulation channel and ETH/BTC dynamics forming part of the broader analysis.
The 11-minute market review also examines bearish divergences and compares post-QT conditions in 2019 and 2025. Those comparisons are being used to frame the current market structure rather than relying on a single social-media post. The business cycle expansion is another part of the argument.
2026 Accumulation Window Faces A ShiftThe analysis describes 2026 as a year for bullish positioning and preparation for expansion. It argues that the crypto accumulation and opportunity window is approaching its end as market capitalization pushes beyond the established range.
That doesn’t make CZ’s “Soon…” post any clearer. It simply makes the chart more relevant than the speculation surrounding a two-word message.
For now, the crypto market cap remains around $2.86 trillion while the breakout from accumulation, Ethereum’s structure and the expanding business cycle form the core of the current market thesis.
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While everyone’s watching Bitcoin, one expert says there are 4 other assets quietly leading this entire bull market. Matt Hougan, Chief Investment Officer at Bitwise, said his long-standing “Mount Rushmore” of crypto assets remains unchanged: Bitcoin, Ethereum, Solana, and Chainlink. He described this basket as essential exposure for anyone playing crypto’s two biggest macro themes: currency debasement and tokenization. “It’s hard to argue with those four assets not being part of your exposure,” he said.
Challengers Making Their Case
Hougan said the basket isn’t set in stone. Hyperliquid, he said, is “making its case to be chiseled into the Mount Rushmore,” while Zcash is arguing privacy deserves a spot and Venice is pushing the case for real-world AI applications. He said he’s bullish on several of these downstream DeFi assets, but still views the original four as the core, broad-based play.
Why He’s Bullish On Chainlink Despite Its Token Weakness
Asked specifically about Chainlink, given its steady stream of positive news around on-chain data and real-world asset integration, Hougan acknowledged the token itself remains “questionable.”
His broader thesis is that current tokenomics represent the worst version of themselves for nearly every crypto asset, and that regulatory pressure easing will force progressive improvement across the board.
He said he’s already seeing that reflected in Chainlink’s price, and that the underlying protocol business is strong enough to carry the token forward even as its economics catch up. He compared his current view on Chainlink to how he felt about Uniswap for years before its tokenomics improved.
A New Frontier: Tokens Tied To Real Assets
Hougan also flagged growing interest in pairing tokens with real-world assets, floating ideas like companies distributing rewards through tokenized stocks or fund companies marketing through tokenized funds.
He said while the current economics behind some of these paired-asset trades look unusual and likely temporary, the underlying concept, attaching a token to a real asset, still has significant unexplored potential ahead.
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Tether, the largest company in the digital asset industry, said on Sunday, September 28, that it is working with Shiga to bring self-custodial financial products to individuals, businesses and institutions across Africa and the Gulf Cooperation Council, according to a company announcement. The initiative, built on Tether’s open-source Wallet Development Kit (WDK), builds on the stablecoin issuer’s 2025 strategic investment in Shiga and marks the next phase of its push to expand blockchain-based financial infrastructure and USD₮ access across the two regions.
ENTA and Pulse target consumers and institutions Tether and Shiga will roll the effort out through two products. ENTA will let individuals, high-net-worth users and businesses fund self-custodial wallets with local currency, U.S. dollars or Bitcoin, then hold and transfer USD₮, Bitcoin and XAU₮. Pulse will enable banks, fintech companies and other institutions to build digital asset products around specific payment corridors, treasury operations and settlement flows, tailored to the way each institution moves money rather than a generic wallet interface.
WDK powers both offerings WDK provides the open-source wallet infrastructure underlying both products, letting Shiga support the blockchain networks available through WDK from a single integration, with built-in USDT0 technology, DeFi primitives and cross-chain interoperability. Tether framed the move as a response to currency volatility and costly remittances, noting the average cost of sending money to Sub-Saharan Africa reached 8.46% in 2025. “WDK gives companies the tools to build financial products that keep users in control of their assets,” said Paolo Ardoino, CEO of Tether. “Together with Shiga, we are bringing that infrastructure to markets where people and businesses face real challenges protecting savings and moving money across borders.”
Nigeria licence nears final approval Shiga is completing the final stage of approval for a Digital Asset Intermediary licence in Nigeria, which, subject to final approval, would authorize regulated digital asset dealing, broking and custody services to individuals and institutions in the country. Shiga said it will also run ENTA on the same underlying platform it offers to external clients, giving prospective partners a live example of the infrastructure in operation. The expansion extends Tether’s wallet tooling for developers and adds to the institutional stablecoin rails that corporate clients are already adopting.
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Blockchain analyst specializing in the regulatory impact of government policies on the crypto industry. Known for his thorough research and clear, engaging writing, Emmanuel provides insightful analysis on the latest trends, market shifts, and emerging crypto innovations. His work aims to educate and inform both novice and experienced readers, offering expert perspectives on the fast-evolving world of digital assets. With a passion for staying ahead of the curve, Ogwu is a trusted voice in the cryptocurrency and blockchain space.
Tom Lee, chairman of Bitmine Immersion Technologies, and Changpeng Zhao, founder of Binance, have sparked renewed optimism in the cryptocurrency market with a series of public statements and social media posts suggesting an upcoming bull market. Both are among the most prominent figures in the industry, and their comments have drawn widespread attention.
The conversation gained momentum after Zhao shared an AI-generated image of himself on social media, depicting a meme format with green night vision tones. The image humorously suggested that many market participants may be caught off guard when crypto valuations start to recover.
Following the post, Zhao echoed earlier remarks about the robust fundamentals of BNB Chain and the ongoing strength of the BNB token. In response to Zhao’s meme post, Lee replied, “Agree, do you own enough crypto?” The brief exchange led to renewed market speculation about a potential bull cycle.
Tom Lee has maintained that the next crypto bull market could surpass previous cycles, and he has encouraged investors to evaluate their exposure and consider if they are prepared for a recovery.
Lee’s bullish price projectionsLee, known for his bold forecasts in the cryptocurrency sector, continues to stand by his prediction of $150,000 for Bitcoin, while expecting Ethereum to reach $60,000 in the coming years. These projections have been repeated throughout recent months, underlining Lee’s long-term optimism.
Speaking at Korea Blockchain Week, Lee stated that “Ethereum has been consolidating for five years,” highlighting his view that the market is primed for a major breakout.
Bitmine Immersion Technologies, a firm specializing in blockchain infrastructure and digital asset management, has kept its strategy of weekly Ethereum purchases. In the latest acquisition, Bitmine bought 17,362 ETH last week, pushing its total Ethereum holdings above 6 million tokens, valued at more than $16 billion based on current prices.
Mini dictionary: Bitmine Immersion Technologies is a company focused on cryptocurrency mining, digital asset management, and blockchain infrastructure. Its ongoing Ethereum accumulation reflects a treasury strategy aimed at long-term asset growth.
The company initiated its Ethereum accumulation strategy in June of the previous year and has not missed a weekly purchase since, regardless of market volatility.
Market trends and recent performanceDigital assets saw significant gains throughout September, with Bitcoin, Ethereum, and BNB each closing the month higher. However, momentum slowed recently as rising Treasury yields exerted downward pressure on crypto markets.
AssetWeekly ChangeMonthly ChangeBitcoin-4%+7%EthereumSimilar to BitcoinMonthly gainsBNBSimilar to BitcoinMonthly gainsBitcoin dropped approximately 4% in the last week, while still trading over 7% above monthly lows. Ethereum and BNB displayed comparable patterns, with declines on a weekly basis but overall upward movement for the month.
Bitmine’s own shares experienced a modest downturn, closing lower in after-hours and standard trading sessions.
During his appearance at Korea Blockchain Week, Lee offered further analysis, suggesting this emerging bull market could be the most significant in cryptocurrency history. He highlighted the recent outperformance of crypto-focused equities in the third quarter as a sign that a new cycle is underway.
Lee also pointed to evolving market catalysts. While earlier cycles were driven by ICOs, NFTs, meme tokens, and stablecoins, he expects the latest cycle to be shaped by tokenization, advancements in artificial intelligence, and improved regulatory environments.
Lee concluded that these factors could set the stage for a larger breakout following several years of consolidation, particularly as new technologies and investor sentiment align.
Ether ETFs shed $3 million Tuesday after seven days of inflows, following an $8 million outflow from Zcash funds at the start of the week.
US spot Bitcoin exchange-traded funds (ETFs) extended their net inflow streak to nine trading days, while Ether and Zcash funds flipped to outflows.
Bitcoin ETFs attracted $66.2 million on Tuesday, bringing net inflows over their winning streak to roughly $3.1 billion, according to data from SoSoValue. The year-to-date net inflows rose to roughly $1 billion.
However, some altcoin funds saw a reversal. Spot Ether ETFs ended their seven-day streak by posting roughly $3 million in net outflows on Tuesday. The funds had attracted more than $851 million during the seven sessions, bringing cumulative net inflows to about $14 billion.
Earlier in the week, Zcash ETFs snapped a six-day inflow streak after recording $8 million in net outflows on Monday.
Bitcoin traded at about $83,567 at the time of publication, down 0.4% over the past 24 hours, according to CoinGecko. Crypto market sentiment also softened slightly, with Alternative.me’s Crypto Fear & Greed Index slipping to 71 from 73 a day earlier, while remaining in “Greed” territory.
“The rise in crude prices is capping non-yielding assets, so Bitcoin’s rally has taken a bit of a pause,” Kyle Rodda, senior financial market analyst at Capital.com, told Cointelegraph.
Rodda said Bitcoin could struggle to regain upward momentum while energy-price risks persist, though its technical picture remained “quite constructive.”
This article is produced in accordance with Cointelegraph's Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.
US spot Bitcoin exchange-traded funds (ETFs) continued their winning streak, recording net inflows for the ninth consecutive trading day. Data from SoSoValue showed that Bitcoin ETFs attracted $66.2 million on Tuesday, lifting total net inflows during this period to approximately $3.1 billion. On a year-to-date basis, net inflows into US Bitcoin ETFs reached almost $1 billion.
Altcoin funds lose momentumWhile spot Bitcoin ETFs drew consistent investor interest, Ether and Zcash funds experienced a shift. After seven straight days of inflows, US spot Ether ETFs registered net outflows of around $3 million on Tuesday. Over the previous seven sessions, these funds had accumulated more than $851 million, bringing total net inflows to roughly $14 billion.
Zcash ETFs also saw their momentum stall earlier in the week. On Monday, Zcash funds ended a six-day inflow run by posting $8 million in net outflows, signaling waning investor appetite for the privacy-focused token during the latest trading sessions.
Market sentiment and Bitcoin’s priceBitcoin traded at approximately $83,567 at the time of publication, reflecting a 0.4% decline over the preceding 24 hours, based on CoinGecko data. Broader crypto market sentiment fell slightly, as the Crypto Fear & Greed Index, published by Alternative.me, dipped to 71 from 73 the previous day, but still indicated a “Greed” reading.
Commenting on the pause in Bitcoin’s rally, Kyle Rodda, senior financial market analyst at Capital.com, pointed to external macroeconomic factors. He stated that rising crude oil prices are weighing on non-yielding assets like Bitcoin, with energy-price risks potentially constraining BTC’s momentum in the short term.
Kyle Rodda observed that Bitcoin may struggle to regain upward momentum as energy prices continue to pose risks, but highlighted that the technical outlook for the leading cryptocurrency remains “quite constructive.”
Meme token frenzy and investor strategiesIn the current landscape, many market participants are not only monitoring price charts and technical patterns, but also tracking the behavior of meme tokens—an increasingly popular segment. An internet trend in this area can rapidly generate millions of dollars in trading volume. According to Fomo App data, a notable example involved a $99 purchase of the “Niu Lai” meme token, which turned into approximately $370,000, underscoring the significant gains sometimes made through timely meme token trades.
With such volatility, closely following both price movements and the timing and selections of individual traders is essential. Fomo App has emerged as a platform that combines the discovery of new tokens with trading functionalities, enriched by features like social feeds, trader rankings, and notification systems. These tools enable investors to stay updated in the fast-paced meme token environment and observe shifting investor preferences in real time.
Lion funded its latest HYPE purchase by exiting SOL and reducing Bitcoin. SUI had already been fully converted into HYPE in September 2025. Future purchases should be judged by both HYPE accumulation and what Lion sells to finance it. Lion Group is financing its latest Hyperliquid purchase from inside its own crypto portfolio.
The Nasdaq-listed company sold all of its remaining Solana and part of its Bitcoin holdings on Sept. 29, directing the proceeds into HYPE. The transaction added approximately 38,102 HYPE and brought Lion’s total position to about 232,900 tokens, valued at $20.1 million when the company announced the reallocation.
The source of that capital is more revealing than the purchase itself.
Lion is not simply putting additional cash into crypto. It is deciding which digital assets deserve space on its balance sheet, and Hyperliquid is increasingly winning that competition.
Lion’s Treasury Has Been Narrowing for More Than a Year The shift did not begin this week.
Lion launched its digital-asset treasury in June 2025 around three assets: HYPE, SOL and SUI. HYPE was designated the primary reserve asset, but the strategy was initially presented as a broader bet on next-generation Layer-1 networks.
By September 2025, that structure had already started disappearing.
Lion first announced plans to rotate its SOL and SUI holdings toward Hyperliquid, citing the availability of institutional HYPE custody through BitGo. Three days later, it completed the conversion of its entire SUI position, leaving a disclosed treasury of 194,726 HYPE and 6,707 SOL.
The latest transaction effectively completes the SOL side of that transition while bringing Bitcoin into the reallocation for the first time.
Lion Group Treasury
From crypto basket to HYPE concentration
JUNE 2025
Lion launches a multi-asset treasury strategy.
HYPE
SOL
SUI
SEPTEMBER 2025
Strategy shifts toward converting
SOL
and
SUI
into HYPE.
SEPTEMBER 29, 2026
Lion sells all remaining SOL and part of its
BTC position to buy more HYPE.
+38,102 HYPE
Resulting HYPE position
232,900
HYPE tokens
Approximately $20.1 million at the time of the announcement
Lion Group is reducing other crypto positions while increasing its exposure to Hyperliquid.
The progression changes how Lion’s future crypto purchases should be interpreted. Buying HYPE with new capital expands its digital-asset exposure. Buying HYPE by selling another cryptocurrency primarily changes the composition of exposure already on the balance sheet.
That is a different treasury decision.
Hyperliquid Has Given Lion More Reasons to Stay Lion’s increasing commitment comes as Hyperliquid expands beyond the perpetual futures market that established the protocol.
In its latest announcement, the company pointed to the introduction of manual borrowing, where supported assets can be supplied as collateral to borrow stablecoins, as well as record open interest and broader infrastructure around the network.
HYPE’s market access has expanded too, including a Binance spot listing and staking access through Gemini for eligible U.S. customers.
Those are Lion’s stated reasons for remaining bullish, rather than independent evidence that concentrating the treasury will improve shareholder returns. The distinction is important because the strategy ties a growing portion of Lion’s digital-asset exposure to the performance and development of a single ecosystem.
There is also a useful historical benchmark in Lion’s SEC disclosures.
On Sept. 21, the company reported approximately 195,000 HYPE worth $18.2 million and said it had not sold any tokens from the position. The latest reallocation raises the token balance substantially without reversing that holding strategy.
What Lion Sells Next May Matter More Than What It Buys The next treasury announcement now has two sides worth watching.
One is straightforward: how much additional HYPE Lion acquires.
The other is the funding source.
If future purchases come from new financing or available cash, Lion would be expanding the capital committed to its crypto strategy. If they are financed by further Bitcoin sales or disposals of other digital assets, the company would instead be continuing the internal rotation that has gradually reshaped the portfolio.
That distinction also puts Lion’s original $600 million treasury announcement into perspective. The figure referred to a financing facility secured in June 2025, not $600 million of cryptocurrency immediately deployed. The first closing under that facility was $11 million, while Lion’s initial HYPE acquisition was $2 million at an average price of roughly $37.30 per token.
The treasury has therefore developed incrementally rather than through a single $600 million deployment.
Its direction, however, has become progressively clearer.
SUI was removed first. SOL has now followed. Bitcoin has begun funding additional HYPE purchases.
For Lion’s next treasury update, the asset leaving the balance sheet may be just as informative as the HYPE entering it.
Alex is a financial markets journalist and co-founder of Millennial Media Group, and he's spent close to ten years trying to answer one stubborn question: what's really driving this? It started in 2016, when Bitcoin refused to make sense to him - and rather than shrug, he stayed with it until it did. That patience became his method. He's less interested in what an asset is doing today than in the plumbing behind it: how liquidity flows, where risk hides, what a chart is quietly telling you that the headline isn't. That lens eventually stretched well past crypto into traditional markets, because the same forces - fear, leverage, incentives, timing - show up everywhere once you know how to look. Most coverage, in his view, insults the reader by stopping at the surface. Price up, price down, moving on. He'd rather leave someone genuinely understanding a move than merely informed that it happened. His path into markets ran through a Tourism degree at New Bulgarian University - proof, maybe, that curiosity beats credentials. With more than 200 deep analyses and over 10,000 articles behind him, he still walks away from most trading days having learned something he didn't know that morning.
Today could set the tone for financial markets heading into the final quarter of 2026. It could also land at an awkward moment for Donald Trump, with voters increasingly focused on prices just weeks before the US midterm elections.
PCE inflation: The Federal Reserve’s preferred inflation gauge measures how prices are changing across what Americans actually spend money on. Economists expect headline inflation to remain at 3.7%, while core PCE is forecast at 3.3%, with a 0.3% monthly increase.
Q2 GDP: The US will publish its third estimate of economic growth between April and June. The previous estimate showed 1.5% annualized growth, and markets expect little change.
Why it matters: The Fed raised rates this month for the first time in three years. Today’s data could decide if they will raise rates again in October.
The bigger test: Hot inflation could push bond yields higher and hit stocks and crypto again. A softer number could challenge one of Wall Street’s biggest trades of September.
US economic prints to watch this week:
💠Core PCE (Wed, 8:30 am ET): YoY: 3.3% prev, 3.4% est | MoM: 0.2% prev, 0.3% est
💠GDP Q2 (Wed, 8:30 am ET): 1.5% prev, 1.5% est
💠S&P Global Mfg PMI (Thu, 9:45 am ET): 57.0 prev, 57.0 est
💠ISM Mfg PMI (Thu, 10:00 am ET): 54.6 prev,… pic.twitter.com/IL3gzyoYqI
— Lark Davis (@LarkDavis) September 30, 2026
Crypto Has Already Taken the First Hit
Bitcoin traded around $84,000 early Wednesday, while most major cryptocurrencies remained under pressure.
Some of today’s bad news is already priced in. Investors know inflation is expected to stay well above the Fed’s 2% target, while markets have already shifted sharply toward more rate hikes.
That means a 0.3% core PCE reading may produce limited surprise.
A 0.4% or 0.5% reading would be different. It could strengthen expectations for further Fed hikes, lift Treasury yields, and put another round of pressure on Bitcoin and higher-risk altcoins.
A 0.2% reading could trigger the reverse. Traders may start questioning whether the recent rise in rates has gone too far.
Stocks Face the Same Problem
Wall Street has handled the bond selloff surprisingly well.
The S&P 500 remains close to recent highs even as the 10-year Treasury yield has climbed above 5%. The yield has risen around 81 basis points since July and recently reached its highest level in 19 years.
Stocks slipped Tuesday, with the S&P 500, the Dow, and Nasdaq trading lower. Another hot inflation reading would test how long that resilience can last.
What is happening here.
The bond market is now pricing-in 4 more 25 basis point rate hikes by June 2027, a total of +125 basis points including September's hike.
Just 9 months ago, markets had expected at least 100 basis points of rate CUTS by June 2027.
That's a +225 basis…
— The Kobeissi Letter (@KobeissiLetter) September 29, 2026
Trump Has a Different Problem
The same inflation report will land just over a month before the November midterms.
A Reuters/Ipsos poll last week put Trump’s approval rating at 32% — the lowest of his political career.
Reuters said rising prices have become a major political problem, with roughly half of voters naming the cost of living as the most important issue in the congressional elections.
Consumer confidence has also fallen to a 12½-year low, as households face expensive fuel, groceries and borrowing costs.
Donald Trump Approval Rating. Source: New York Times
PCE will not decide an election.
But if inflation refuses to fall while interest rates keep rising, it gives voters another economic number that matches what many already feel at the checkout and the gas pump.
That makes today’s release a test far beyond Wall Street.
Core PCE data came in cooler than expected, propelling risk-on markets into a fresh move upward.
Bitcoin’s price surged in the past hour after the US Bureau of Economic Analysis released the core PCE report. The cryptocurrency touched $85,600, jumping from below $84K just an hour ago, showcasing that crypto traders welcomed the signs of cooling inflation.
It’s important to note that many altcoins also surged in the past hour, including ZEC, which is up more than 3.6%, HYPE, up 1.1%, ETH up 1.5%, SOL up 2.2%, and so forth.
Source: TradingView This comes on the back of the fact that consumer prices posted a smaller-than-expected increase in August from a year ago, according to the primary inflation gauge of the Federal Reserve. The personal consumption expenditures price index increased by 0.3% for the month, putting the 12-month gain at 3.4%.
On the other hand, excluding food and energy, PCE posted a 0.2% increase that put the annual core level at 3%. The expectations were for a 0.3% increase and 3.3% annual rate, conversely. Speaking on the matter was David Russel, global head of market strategy at TradeStation, who said that this is “good news for investors worried about the recent surge in bond yields, and it bolsters the case for not hiking in October.” Recall that earlier this month, the Federal Reserve increased interest rates for the first time in three years, which, contrary to what many expected, pushed BTC’s price up.
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About the author
Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over 8 years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping.
According to Farside’s monitoring, on September 29, U.S. spot Bitcoin ETFs posted a total net inflow of $66.2 million, broken down as: BlackRock’s IBIT: +$51.1 million; ARK’s ARKB: +$33.2 million; Bitwise’s BITB: -$18.1 million; while Fidelity’s FBTC, Invesco’s BTCO, Franklin’s EZBC, Valkyrie’s BRRR, VanEck’s HODL, WisdomTree’s BTCW, Morgan Stanley’s MSBT, Grayscale’s GBTC, and BTC saw no inflows or outflows. U.S. spot Ethereum ETFs recorded a total net outflow of $2.8 million yesterday, with details: Grayscale’s ETH: +$12.8 million; BlackRock’s ETHA: -$8.9 million; Fidelity’s FETH: -$6.7 million; and BlackRock’s ETHB, Bitwise’s ETHW, 21Shares’ TETH, VanEck’s ETHV, Invesco’s QETH, Franklin’s EZET, Morgan Stanley’s MSSE, and Grayscale’s ETHE had no inflows or outflows.
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October Fed rate hike odds have taken a sharp U-turn after New York Fed President John Williams said there is no need to rush another rate increase. Odds of a 25-basis-point hike have dropped from above 70% to around 44%.
The shift could give Bitcoin and the wider crypto market some much-needed relief.
Williams Pushes Back Against October HikeSpeaking at the University at Buffalo, Williams said the Fed’s unanimous decision last month to raise rates to 3.75%–4% gives policymakers enough time to assess new economic data before making another move.
“With the policy action we took at our September meeting, there is no need for urgency, and we have time to gather more information.”
Before Williams’ speech, futures markets priced in nearly a 70% chance of another 25-basis-point hike in October. Those odds later fell to around 44.8%, according to the CME FedWatch Tool.
A prediction market including traders on Kalshi has now turned toward no rate change in October, with those odds rising to 55.2%.
Also, what’s interesting is that the Fed has never raised rates in October ahead of a U.S. election.
Barr Keeps October Hike on the TableThe Fed’s message is not completely one-sided. Federal Reserve Governor Michael Barr said the central bank has been “knocked off course” by strong AI demand and higher oil prices, suggesting that policy may need to be recalibrated.
This puts Barr’s view at odds with Williams’ call for more time to assess incoming data.
Still, Williams expects another hike later this year if the economy follows his forecast. He also expects inflation to reach 3.5% by the end of 2026.
Bullish News for the Crypto MarketThis Fed’s signal could be good news for crypto if rate hikes slow down. The global crypto market cap now stands at $2.95 trillion, almost unchanged over the past 24 hours.
As of now, Bitcoin accounts for $1.67 trillion, with a market dominance of 56.62%. Meanwhile, around 13,800 BTC left Binance, marking its largest single-day net outflow since 2023. The move comes as Bitcoin trades below $83,213, with more investors moving BTC into long-term wallets.
Altcoins are also seeing stronger activity. Altcoin spot trading volume has reached nearly four times Bitcoin’s volume, while Glassnode’s Altcoin Cycle Signal has climbed above 81.
Story Ends Here
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