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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Altın fiyatları, haftanın başında yaşanan sert satışların ardından kayıplarını telafi etmeye çalışırken 4.200 dolar seviyesine yakın hareket ediyor. Pazartesi günü görülen güçlü satış baskısının ardından toparlanma sinyalleri veren değerli metal, küresel piyasalardaki gelişmelerin etkisiyle dalgalı bir görünüm sergiliyor. Yükselen ABD Hazine tahvil getirileri ve güçlenen dolar altın fiyatları üzerinde baskı oluşturmaya devam ederken, petrol fiyatlarındaki gerileme ise değerli metale sınırlı destek sağlıyor. Yatırımcıların odağı bugün açıklanacak kritik ekonomik verilere çevrilirken, verilerin Fed’in faiz politikasına yönelik beklentileri nasıl şekillendireceği yakından takip ediliyor.
Altın Fiyatlarında 4.200 Dolar Mücadelesi Altın, önceki işlem seansında yüzde 1,63 değer kazanarak günü 4.182 dolar seviyesinde tamamladı. 30 Eylül saat 07.25 itibarıyla ise yüzde 0,14 düşüşle 4.176,39 dolar seviyesine geriledi. Değerli metalin eylül ayını yaklaşık yüzde 6 kayıpla tamamlaması bekleniyor. Pazartesi günü yaklaşık yüzde 4’lük sert düşüş yaşayan altın, salı günü yeniden toparlanma arayışına girdi. Petrol fiyatlarında görülen gerileme altına sınırlı destek sağlarken, yüksek tahvil getirileri fiyatların daha güçlü bir toparlanma gerçekleştirmesini zorlaştırıyor.
İlginizi Çekebilir: Bitcoin’de Dikkat Çeken Sinyal: Alarm Veriyor!
ABD Hazine tahvil getirilerindeki yükseliş, altın fiyatları üzerindeki temel baskı unsurlarından biri olmaya devam ediyor. ABD’nin 30 yıllık tahvil getirisi yüzde 5,62 seviyesine kadar çıkarak Haziran 2002’den bu yana görülmeyen seviyelere ulaştı. Enerji kaynaklı enflasyonun devam edebileceğine yönelik endişeler ve ABD Merkez Bankası yetkililerinden gelen şahin mesajlar tahvil getirilerindeki yükselişi destekliyor. New York Fed Başkanı John Williams, Ortadoğu’daki çatışmaların ve yapay zeka alanındaki genişlemenin yüksek enflasyonun önemli itici güçleri arasında kalmaya devam ettiğini belirtti. Williams, yılın ilerleyen dönemlerinde bir faiz artırımının daha uygun olabileceğine işaret etti.
Altında Kritik Seviyeler ve Satış Baskısı Saxo Bank Emtia Stratejisi Başkanı Ole Hansen, altının 4.230 dolar seviyesinin altına gerilemesinin ardından piyasa üzerindeki satış baskısının belirgin şekilde arttığına dikkat çekti. Hansen’e göre özellikle ABD Hazine tahvil getirilerindeki yükseliş ve doların güç kazanması, yatırımcıların altına yönelik iştahını zayıflatan başlıca faktörler arasında yer alıyor. Mevcut piyasa koşullarında altın üzerindeki baskıya karşı en önemli destek unsurlarından birinin ise güçlü ETF talebi olduğu belirtiliyor.
Hansen, kısa vadeli likidite ihtiyacının uzun vadeli yatırım gerekçelerinin önüne geçebileceğine dikkat çekerek, altının yüksek tahvil getirileri karşısında yatırımcı talebini koruma kapasitesinin ciddi bir sınavdan geçtiğini ifade etti.
Özellikle önemli teknik destek seviyelerinin kaybedilmesi durumunda satış baskısının daha da güçlenebileceği değerlendiriliyor. Bununla birlikte Çinli yatırımcıların yaklaşan tatil dönemi öncesinde pozisyonlarını azaltarak kar satışına yönelme ihtimali de altın fiyatları açısından yakından takip ediliyor. Hansen’e göre yükselen tahvil getirileri, güçlü dolar ve teknik satışların oluşturduğu baskıya Çin kaynaklı kâr realizasyonlarının eklenmesi, değerli metalde kısa vadeli dalgalanmanın artmasına neden olabilir.
Altında Gözler Bugünkü Verilerde Altın fiyatlarında kısa vadeli görünüm açısından 4.200 dolar bölgesi yakından takip ediliyor. Yükselen tahvil getirileri, güçlü dolar ve teknik satışlar değerli metal üzerinde baskı oluştururken, ETF talebi ve petrol fiyatlarındaki gerileme düşüşü sınırlayabilecek faktörler arasında bulunuyor. Piyasaların odağı ise bugün açıklanacak ekonomik verilere çevrilmiş durumda. Verilerin enflasyon ve Fed’in faiz politikası beklentilerini değiştirmesi halinde altın fiyatlarında oynaklığın artması beklenebilir. Özellikle faizlerin daha uzun süre yüksek kalacağı beklentisinin güçlenmesi altın üzerinde baskı yaratabilirken, daha güvercin beklentileri destekleyen veriler değerli metalin yeniden toparlanmasına katkı sağlayabilir.
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BTC bulls need to defend one key level to avoid deeper slide. (Joa70/Pixabay)Summary
Bitcoin’s pullback from above $87,400 has put the $82,000 support level in focus, with analysts warning that a break could send the cryptocurrency into the high $70,000s.Holding the roughly $81,500-to-$83,000 zone could preserve bitcoin’s bullish momentum and support a move above $90,000, with some analysts forecasting a rally to $100,000.Rising Treasury yields, sustained outflows from spot bitcoin exchange-traded funds and upcoming inflation data could determine whether the rally resumes or a deeper correction takes hold.Bitcoin's BTC$83,012.15 rally has stalled, and a handful of analysts say one price level will decide whether the next move is up or down.
The world's largest cryptocurrency hit a high above $87,400 on Sept. 21. It has pulled back since, testing the $82,000 to $83,000 zone. That area matters. It's where bitcoin topped out in May before tumbling to about $57,000 in June.
Bitcoin is still trading close to that level. Most market watchers expect another leg higher soon, with some expecting a rally to $100,000.
But some analysts are keeping an eye on the bearish case, and it starts with a drop below $82,000.
In trading terms, $82,000 is support, a price floor where buying pressure is expected to overpower selling pressure. Old ceilings often turn into new floors. Bitcoin struggled to break above $82,000 in May and again in early September. Once it finally did, that level became the line buyers are expected to defend.
"The level to watch is $82k," said Jeff Anderson, head of U.S. at crypto trading firm STS Digital. He pointed to the double top at that level, a chart pattern shaped like the letter M that forms when prices hit the same peak twice and fail both times.
"A breakdown will probably yield a slip back into the high 70s," Anderson said.
He doesn't see a drop as the end of the rally, though. U.S. inflation and shaky confidence in U.S. government debt are the kind of forces that tend to help bitcoin over time. "Any move like this would be well supported," he said.
Anderson blames the recent weakness on the bond market rather than on bitcoin itself. U.S. Treasury note prices are falling and yields are climbing. When yields on safe government bonds rise, riskier assets like crypto can look less attractive.
"Current softness this week is a direct result of yield markets unravelling and volatility exploding in fixed income space," Anderson said. "At the current pace it feels like treasuries will keep selling off until equities finally crack out!"
Lacie Zhang, a research analyst at Bitget Wallet, sees the $81,500 to $83,000 zone as the key area.
"Holding that region would keep the market structure constructive," Zhang said.
Losing it is one of three warning signs she's watching. "A deeper correction would become more likely if ETF flows turn negative for several sessions, the 10-year Treasury yield continues to rise and support below $82,000 fails," she said.
ETF flows track money moving in and out of U.S. exchange-traded funds that hold bitcoin. Steady outflows would signal that big investors are pulling back.
Iliya Kalchev, an analyst at Nexo Dispatch, drew his line a little lower. "A sustained break below $80,000 would suggest the market isn't ready to push higher for some time," he said.
A bounce could still flip the picture. "Renewed momentum from here could carry price well above $90,000," Kalchev said.
The next test may come from the economy rather than the charts. Anderson said the Personal Consumption Expenditures index, the Federal Reserve's preferred inflation gauge, "will be the market's next guidance" on how long inflation is likely to stay high.
US-based investment platform Robinhood has announced AI-powered trading tools, weekend stock trading, and crypto futures offering leverage of up to 10x.
Robinhood announced its new products targeting active investors at the HOOD Summit event in Houston. The company’s most notable innovation is Robinhood Agents, which can conduct market research on behalf of users and execute trades under certain conditions.
Users can create AI agents with access to a separate trading account by selecting either OpenAI or Anthropic models from within the application. These agents can analyze market data, create watchlists, and suggest stock, option, and cryptocurrency trades. Initially, each trade suggested by the agent will require user approval. However, users can disable this protection.
When the feature called “Loops” is activated, investors will be able to give the AI continuously valid instructions. For example, the agent will be able to automatically execute trades when the conditions are met by monitoring specified price or market conditions. Robinhood stated that agents will initially not be able to perform leveraged trades and will only be able to use the assets in their assigned account.
The company is also preparing to offer eligible US users perpetual futures contracts with up to 10x leverage on Bitcoin and Ethereum. Unlike traditional futures contracts, these products do not have a specific expiration date. Leverage can increase potential gains, but it can also rapidly increase an investor’s losses.
Another move by Robinhood will be to launch weekend trading for select US stocks and exchange-traded funds. The service will be offered through Bruce ATS. With this, the company aims to bring the seamless trading experience found in crypto markets to traditional assets.
Not all of the announced features are available at once. Some will be rolled out gradually, and only eligible US customers will be able to access the crypto derivatives.
*This is not investment advice.
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An ancient Bitcoin wallet has suddenly sprung back to life after more than 15 years of inactivity.
The wallet had roughly $1.7 million worth of BTC that had remained untouched since May 2011.
According to Galaxy Research, 20.43 BTC associated with the address moved in two separate transactions on Sept. 29.
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Tiny Bitcoin holdings turn into $1.7 millionGalaxy Research estimated an average historical basis of roughly $4 for the 10.33 BTC batch.
The analytics firm calculated a gain of approximately $872,000, or an eye-popping 2,192,671%.
The other 10.10 BTC had an estimated basis of only around $3 per coin.
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Combined, Galaxy put the gain associated with the two groups of ancient outputs at approximately $1.724 million.
Galaxy Research had no attribution for either the sender or the recipient.
Month of ancient Bitcoin awakeningsThere has been a rather notable series of transfers involving coins that had remained untouched for anywhere from four years to more than 16 years.
One of the month's most notable events occurred on Sept. 5, when 12 wallets containing 50 BTC apiece moved a combined 600 BTC after more than 16 years of inactivity.
The coins originated from mining rewards generated in March 2010.
The 600 BTC was worth roughly $48 million at the time. The old outputs were swept into newer, previously unidentified Bitcoin addresses. Blockchain investigators found no evidence establishing that the coins belonged to Bitcoin creator Satoshi Nakamoto despite their extremely early origin.
During the first five days of the month alone, approximately 626.74 BTC from long-dormant wallets moved for the first time in years. That included eight wallets dating to 2013 that moved 25 BTC each within roughly 25 seconds.
Galaxy Research tracked four wallets that had been inactive for at least a decade moving a combined 1,971.03 BTC between Sept. 6 and Sept. 22.
An even older wallet containing 10.25 BTC also woke up after being dormant since March 2011.
On Sept. 19, yet another 2011 wallet moved 100 BTC worth approximately $8.09 million.
Just three days later, on Sept. 22, a wallet that had been inactive since July 2012 moved 600 BTC worth approximately $51.9 million.
Key Highlights BTC remained stable around $83,453 on Tuesday as crude oil prices declined and Treasury bond market volatility subsided. The digital asset peaked at $85,128 over the weekend before retreating under $83,000 on Monday. Geopolitical friction between Washington and Tehran regarding the Strait of Hormuz, combined with elevated Treasury yields, weighed on market sentiment. The cryptocurrency has surged 43.1% during Q3 2026, marking its strongest quarterly performance since the final quarter of 2024, based on analysis from The Kobeissi Letter. Data from Glassnode and CoinGlass indicates significant resistance from long-term holder supply concentrated around the $85,000 price level. BTC maintained its position around $83,453 on Tuesday, registering a modest 0.3% daily increase. This stability emerged as crude oil markets softened and the recent Treasury bond selloff showed signs of moderating.
Bitcoin (BTC) Price After touching $85,128 on Sunday, the cryptocurrency slipped beneath the $83,000 threshold on Monday before finding its footing.
According to Iliya Kalchev from Nexo Dispatch, the $82,000 zone represents a probable floor for support. Should prices breach $80,000, it would indicate diminishing bullish momentum, whereas a successful breakout could propel the asset toward $90,000.
Kalchev highlighted a disconnect in market psychology. Digital asset markets are approaching “extreme greed” territory, he noted, while traditional equity markets have maintained a fearful stance for three consecutive weeks.
Meanwhile, Citi announced the extension of its cryptocurrency services into Japanese and UAE markets, adding a positive note to the broader landscape.
Crude Prices and Treasury Yields Drive Market Dynamics Brent crude dropped to its weakest point in almost seven days. Middle Eastern exports climbed to 12.8 million barrels daily in September, representing the strongest flow since February.
US-Iran diplomatic tensions persisted. President Trump dismissed an Iranian proposal to reopen the Strait of Hormuz and refuted reports suggesting willingness to relax economic sanctions.
Qatari intermediaries remained engaged in facilitating dialogue between the parties. Reuters sources indicated that reaching an agreement before the upcoming midterm elections appears improbable.
Government bond yields experienced dramatic movements. The 10-year note reached its peak since April 2002, while the 30-year bond touched levels not witnessed since June 2002.
The Treasury selloff moderated following comments from New York Federal Reserve President John Williams, who indicated the central bank faces no urgency in implementing its next policy adjustment.
BTC oscillated between $82,807 and $84,545 throughout the session before stabilizing around $83,150. Total liquidations approached $78 million, with short positions accounting for $44 million of that volume.
Utkarsh Ahuja from Moon Pursuit Capital attributed the decline below $83,000 to factors extending beyond cryptocurrency markets. He identified elevated yields, dollar strength, and geopolitical uncertainty as contributing forces.
Ahuja explained that excessive leverage can amplify broader market movements into sharper corrections within crypto markets, though he anticipates swift repricing once external pressures diminish.
Kyle Rodda, senior analyst at Capital.com, suggested that escalating oil prices are constraining bitcoin’s upward trajectory. Nevertheless, he maintains that technical indicators continue supporting a near-term bullish structure.
The Kobeissi Letter reported via X that bitcoin has climbed 43.1% throughout the third quarter of 2026. This represents its strongest quarterly advance since late 2024, supported by $2.4 billion in spot ETF inflows during the week concluding September 25.
BREAKING: Bitcoin is up +43.1% so far in Q3 2026, on track for its best quarterly performance since Q4 2024.
This would also mark their 3rd-best quarterly gain since US spot Bitcoin ETFs officially began trading in January 2024.
Since August 19th alone, Bitcoin prices have… pic.twitter.com/lfZ3a8vHGp
— The Kobeissi Letter (@KobeissiLetter) September 29, 2026
Critical Barrier Emerges Around $85,000 Exchange order book data from CoinGlass revealed substantial resistance forming near $85,000, mirroring patterns observed earlier in the week.
Glassnode analysts posted on X that long-term holder positions are concentrated between $84,000 and $85,000. They emphasized that prices must decisively break through this zone for the rally to maintain momentum.
Gold experienced a 3.6% decline to $4,115 per ounce before rebounding to $4,166. The Kobeissi Letter characterized this movement as “highly unusual” in a separate X post, attributing the disruption to yield-driven pressures affecting precious metals broadly.
Mosaic Asset Company observed that equity markets are displaying oversold conditions unprecedented since late March, and suggested that robust August employment figures could underpin gains despite expectations for an October rate increase by the Federal Reserve.
CryptoQuant analyst Axel Adler Jr. said BTC rose from around $76,000 to $87,000 between September 17 and 27, pushing the share of BTC in profit up from 65% to a peak of 73.8%. As of September 29, that figure had pulled back to roughly 72%, still below the long-term average of 76%. Separately, the fast and slow lines of the Bitcoin Impulse Performance indicator both dropped to 0 during September 29–30, with BTC price holding at around $83,000. Adler pointed out that a momentum reading of zero means the current rally has temporarily lost directional momentum, though a trend reversal cannot yet be confirmed. If the indicator falls further into negative territory while the profit supply share declines again, the signal of a weakening market will strengthen significantly.
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Bitcoin edged higher on Wednesday, with the cryptocurrency holding above $83,400 as traders evaluated whether its robust third-quarter gains could persist amid declining speculative futures activity and ongoing profit-taking.
Spot demand faces test after futures slowdownDuring Asian market hours, Bitcoin recorded a modest 0.4% increase, trading above the $83,400 mark but remaining beneath its recent eight-month peak of about $87,400. The total market capitalization of cryptocurrencies reached approximately $2.95 trillion, rising 0.3% over the previous day.
Recent analysis by CryptoQuant revealed a dramatic decline in speculative futures demand, with open interest dropping from an estimated 164,000 BTC on September 14 to around 16,000 BTC by September 29. This represents a 90% reduction within just over two weeks.
Despite the slowdown in futures activity, data indicates that newer Bitcoin investors are experiencing average unrealized gains of 33%, the highest level seen since December 2024. Many have recently taken the opportunity to realize profits, with a single day in late September seeing 25,700 BTC sold for realized gains—the largest daily total this year.
CryptoQuant’s head of research, Julio Moreno, described the challenge facing the market:
Without renewed demand, it becomes difficult for rallies to continue, particularly as spot activity remains subdued and futures growth slows, increasing the pressure on recent gains.
The figures suggest Bitcoin’s upward momentum increasingly depends on fresh spot demand rather than leverage-driven trading. In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, jumping between different apps for charts, news, and portfolio tracking is costing investors money. Smart traders are now utilizing privacy-first tools like CryptoAppsy to consolidate everything. Without even the hassle of creating an account, you get real-time charts, smart price alerts, coin-specific news, and critical macro data all on one screen.
Macro risks persist but Bitcoin holds groundBroader market sentiment has been pressured by rising US Treasury yields and sustained oil prices above $100 per barrel as geopolitical tensions between the US and Iran remain unresolved. Financial markets continue to anticipate the possibility of further US interest rate hikes, which typically dampen risk appetite.
Despite these challenges, Bitcoin has maintained resilience. Thahbib Rahman, Research Analyst at Block Scholes, noted that Bitcoin has traded within a narrow range between $82,000 and $84,000 over the past ten days, even as institutional interest supported the price.
Rahman highlighted that spot BTC exchange-traded funds (ETFs) have recorded eight consecutive sessions of inflows worth roughly $3 billion, indicating continued demand from larger investors. This institutional support appears to be balancing the reduction in leveraged futures activity.
ETF inflows provide critical supportUS spot Bitcoin ETFs registered approximately $2.4 billion in net inflows during the week ending September 25, with positive momentum continuing as $66 million flowed in on September 29. This marked nine straight sessions of inflows, according to fund data.
Sonali Gupta, Research Lead at AMINA Bank, commented that confirmation of a sustainable recovery would depend on maintaining both price stability above the $83,000 to $86,000 range and persistent ETF inflows. Gupta explained that if ETF flows reverse and Bitcoin falls below this key support zone, optimism surrounding the current rally would weaken.
Gupta also referenced other evolving macroeconomic factors, including high government bond yields and significant gold purchases by China’s central banks, as additional variables influencing market sentiment.
Gold’s ability to hold important technical levels while Bitcoin sees rising institutional inflows reveals a growing divergence as both assets vie for the role of non-sovereign stores of value.
At this point, analysts identify supportive ETF demand and strong recent performance, while cautioning that elevated profits and reduced derivatives activity could encourage some investors to step back.
PCE inflation gives direction to marketsTraders are closely watching the upcoming US Personal Consumption Expenditures (PCE) inflation data, which is expected to offer new clues on the Federal Reserve’s next policy decisions. A higher-than-expected figure could increase the likelihood of future rate hikes, strengthening the dollar while putting pressure on risk-sensitive assets like Bitcoin.
Conversely, softer inflation would potentially reduce monetary tightening risk and improve the outlook for digital assets. Bitcoin climbed more than 43% during the third quarter, putting it on track for its best quarterly performance since late 2024 and among the strongest since US spot Bitcoin ETFs debuted at the start of that year.
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Crypto analyst Darkfost’s data shows that demand from Bitcoin retail investors (trading volumes between $0 and $10,000) has rapidly faded during this latest BTC rally, with the 30-day change rate shifting from over 17% to -3.5%. Darkfost notes that this indicates retail investors tend to engage in quick in-and-out trades at current market highs, which could impact BTC’s short-term volatility.
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Anthropic discloses a computing power agreement worth up to $84.5 billion, SPCX rises nearly 2%
Reuters cited confidential IPO documents from Anthropic, revealing that the company’s computing power agreement with SpaceX’s xAI involves potential spending of up to $84.5 billion by 2029 for accessing Nvidia chip-based computing resources. Most of the agreement can be canceled with 90 days’ prior notice, and the related amounts are not locked-in revenue. Earlier, SpaceX’s Starship completed its first Earth orbital flight during the 14th test flight, successfully deploying 26 next-generation Starlink V3 satellites, though the mission ended earlier than planned. According to TradingBeats monitoring, the marked price of the SPCX perpetual contract on Hyperliquid stands at $149.50, up roughly 2.01% in 24 hours, with trading volume of approximately $52.65 million over the same period, and current open interest nominal value is around $118 million.
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Iranian Foreign Minister Alaghi has informed the cabinet that he has received a U.S. proposal.
Iranian government spokesperson: Iranian Foreign Minister Araghchi has informed Iran’s cabinet that he has received a U.S. proposal. Earlier reports said Araghchi and his team held talks with Qatari mediators in Doha on Tuesday evening. Araghchi received the U.S.’s feedback on the seven-day plan and will discuss the matter in Tehran on Wednesday. The document under negotiation outlines a seven-day initiative aimed at building mutual trust and returning to an enhanced version of the memorandum of understanding (MoU) signed by the U.S. and Iran in June. The main point of contention between the two sides lies in the sequence of implementing measures under the seven-day plan, rather than the specific content included in the plan.
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Standard Chartered Bank has initiated coverage on ENA in its research report, projecting that its price will rise to $2 by the end of 2028.
Standard Chartered has initiated coverage of Ethena’s token ENA, projecting it will appreciate to $2 by the end of 2028. The bank’s report notes that Ethena sits at the intersection of perpetual contracts, tokenization, and stablecoins, with ENA set to benefit from growth in these sectors and its newly launched buyback program. It adds that Ethena is currently the fourth-largest stablecoin issuer globally, trailing only Tether, Circle, and Sky, and the second-largest interest-bearing stablecoin issuer after Sky. Its USDe stablecoin holds the record for reaching a $10 billion market cap the fastest.
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It is reported that ByteDance's personal AI assistant has been named "Xiaodou" and will have a standalone app.
Beating AI News Flash: ByteDance’s Doubao is developing a personal AI assistant product named “Xiaodou” and plans to launch a standalone app. “Xiaodou” was not a last-minute initiative launched after Muse’s viral rise; the name was finalized this summer. Doubao kicked off internal beta testing for its personal assistant project codenamed “Spell” back in April this year, initially led by Doubao’s mobile assistant team. Recently, the project has started further integration with Doubao’s existing products, and is now jointly managed by the Spell project team and Doubao’s dialogue team. ByteDance is accelerating the push to bring its existing personal assistant projects to official product status. The main Doubao app will remain the general AI entry point, “Doubao Work” is positioned for office use, while “Xiaodou” targets consumer-grade personal assistants.
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Bitwise's NEAR Spot ETF records $35.5 million in net inflow on its first day of trading.
Bitwise officials announced that the U.S.’s first spot NEAR ETP, the Bitwise NEAR ETF (ticker: NRR), reached $36 million in assets under management (AUM) on its debut day, with a net inflow of $35.5 million and trading volume of $15.1 million. Earlier reports noted that Bitwise plans to internally stake the NEAR tokens held by the fund to maximize participation in NEAR’s average ~5% staking rewards.
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German stablecoin startup AllUnity launches US dollar stablecoin USDAU.
EU MiCA-regulated stablecoin issuer AllUnity has announced the launch of its USD stablecoin USDAU, which maintains a 1:1 peg to the U.S. dollar through segregated reserves. The stablecoin will first be issued on Ethereum, Solana, Base, Tempo, Arc, and Polygon. This is AllUnity’s fourth fiat stablecoin, following the euro-pegged EURAU, Swiss franc-backed CHFAU, and Swedish krona-linked SEKAU. AllUnity CEO Alexander H?ptner said USDAU aims to bring U.S. dollar liquidity into the European regulatory framework, providing a USD settlement tool for European enterprises’ global trade and cross-border payments. (Cointelegraph)
None of Bitwise’s 15 institutions cut crypto exposure during the 2025–26 drawdown. Most crypto allocations remain modest at between 1% and 2% of investable assets. Bitcoin has gained roughly 37% against gold from its August ratio low. Bitcoin’s rivalry with gold is starting to show up where it matters most: in the source of institutional capital.
One sovereign wealth fund interviewed by Bitwise said it was funding its crypto allocation by selling foreign-exchange and gold reserves. The fund was not identified, and the finding comes from a relatively small sample of 15 large institutions. Still, it offers a rare look at Bitcoin competing directly for capital previously assigned to traditional monetary reserves.
The portfolio signal is appearing alongside a sharp recovery in Bitcoin relative to gold. The BTC/gold ratio in the TradingView chart climbed from roughly 14.4 in August to 19.79 on September 30, a gain of about 37% from the trough.
Bitcoin strengthens relative to gold as the BTC-to-gold ratio holds near 20 after a sharp September rally. Bitcoin Is Moving Into a Different Portfolio Conversation Every crypto-owning institution interviewed by Bitwise held Bitcoin. For almost all of them, BTC was the first crypto asset purchased, the largest position and the one held for the longest period. Institutions also frequently framed Bitcoin alongside gold as a store of value and hedge against fiat-currency debasement.
That creates a more complicated picture than the familiar idea of institutions treating Bitcoin simply as a high-risk technology investment.
The source of an allocation can reveal how an investment committee thinks about an asset. Funding Bitcoin from a venture, technology or alternatives bucket places it alongside other growth-oriented investments. Funding it from gold or foreign-exchange reserves puts it into competition with assets held for monetary protection.
Bitwise’s research does not establish that this second approach is widespread. Fifteen institutions are not representative of the entire institutional market, and Bitwise itself manages crypto investment products.
But the sovereign example demonstrates that the portfolio transition is no longer entirely theoretical.
Bitcoin Has Recovered Sharply Against Gold The BTC/gold ratio provides another way to examine that competition without relying on their separate dollar prices.
On the daily TradingView chart, one Bitcoin is worth approximately 19.79 ounces of gold on September 30.
The ratio had fallen to around 14.4 in August before reversing. It climbed through 17 in late August, approached 18.5 in September and then broke sharply toward 20. After briefly trading above that threshold, it consolidated just below it.
From the August low to September 30, Bitcoin gained roughly 37% in gold terms.
That distinction is useful because Bitcoin and gold can appreciate simultaneously against a weakening currency.
The ratio asks a narrower question: which asset is gaining purchasing power against the other?
Recently, the answer has been Bitcoin.
The chart does not tell us why the move occurred, and there is no evidence that the sovereign allocation identified by Bitwise caused it. What it does show is that Bitcoin’s recent recovery has not been limited to dollar appreciation.
BTC has also materially outperformed the asset most commonly used as its monetary benchmark.
The Drawdown Tested Institutional Conviction Bitwise’s interviews were conducted after crypto markets had fallen roughly 50% between the fourth quarter of 2025 and the second quarter of 2026.
Not one of the 15 institutions reduced its crypto allocation during that period. Several increased their positions instead. More strikingly, none identified a falling market price itself as a reason it would sell.
Their stated exit conditions were more fundamental: failure of the investment thesis, a regulatory reversal or an industry-wide credibility crisis.
That behavior helps separate strategic allocation from price momentum.
Ryan Rasmussen has separately argued that Bitcoin’s decline to around $60,000 marked the bottom. That is Rasmussen’s market view, not a conclusion established by Bitwise’s institutional survey.
The survey provides a different piece of evidence: regardless of whether $60,000 ultimately proves to have been the cycle low, the institutions interviewed did not use the decline as an exit signal.
Conviction Is Rising Faster Than Allocation Size Institutional interest should not be confused with enormous portfolio exposure.
Crypto represented between 0.5% and 13% of investable assets among the institutions Bitwise interviewed, but most allocations clustered between just 1% and 2%. Family offices reported the largest positions, while sovereign wealth funds had the smallest. Bitwise also found that allocation size tended to fall as the number of internal approvals required increased.
That creates an important tension.
Bitcoin can become an accepted institutional asset without immediately becoming a large institutional position. A pension fund or sovereign investor does not need to replace a substantial part of its gold exposure for the portfolio framework to change. Even a small Bitcoin allocation matters differently if it begins competing with monetary hedges rather than only with other alternative investments.
Spot ETFs have also reduced some of the operational friction. Almost every institution Bitwise interviewed either uses them or plans to, citing costs, operational simplicity and familiarity for back-office systems.
The More Useful Metric May Be Bitcoin Priced in Gold Whether Bitcoin eventually captures meaningful capital from gold cannot be established from one anonymous sovereign fund.
The next evidence will come from allocation decisions across a much larger set of institutions, particularly through future drawdowns and changes in monetary conditions.
Until then, the BTC/gold ratio offers a cleaner market measure of the competition.
Dollar prices show whether Bitcoin and gold are appreciating. BTC priced in gold shows whether Bitcoin is actually gaining ground against the monetary asset it increasingly sits beside in institutional portfolios.
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.
A Bitcoin wallet dormant for more than 15 years transferred approximately $1.7 million in BTC, adding to a series of high-value awakenings from long-inactive addresses throughout the month.
Historic wallet springs to lifeA previously inactive Bitcoin wallet that had not seen movement since May 2011 recently transferred a total of 20.43 BTC in two transactions, as reported by blockchain analytics firm Galaxy Research. At the time of the transactions on September 29, the Bitcoin holdings were valued at nearly $1.7 million.
For the first batch of 10.33 BTC, Galaxy Research estimated an average acquisition price of just $4 per Bitcoin, resulting in a gain of about $872,000—a return of more than 2,192,000%. The remaining 10.10 BTC were acquired at an even lower basis, around $3 each, further boosting the wallet’s cumulative gains.
The analytics firm attributed the two batches of coins to combined gains of approximately $1.724 million, but did not identify the sender or recipient behind the transactions.
Galaxy Research highlighted that the wallet owner secured an extraordinary return, moving funds acquired for just a few dollars into assets now worth over a million.
Surge in ‘ancient’ wallet activitySeptember saw a significant uptick in the activity of wallets that had remained untouched for years—some since the earliest days of Bitcoin. Galaxy Research observed several notable transactions during the month, including the transfer of coins from wallets inactive for anywhere between four and sixteen years.
On September 5, a remarkable event involved 12 different wallets, each holding 50 BTC, moving a combined total of 600 BTC after more than sixteen years without activity. These coins originated from mining rewards issued in March 2010, linking them to one of Bitcoin’s earliest periods. At the time of transfer, the collective value of the coins was about $48 million, and all holdings were directed to newer, previously unidentified Bitcoin addresses.
Despite the coins’ early provenance, blockchain investigators found no clear evidence associating the transactions with Bitcoin’s creator, Satoshi Nakamoto.
Within the first five days of September alone, about 626.74 BTC emerged from long-dormant wallets, including eight 2013-era addresses each moving 25 BTC in less than half a minute. Galaxy Research also tracked four wallets, inactive for at least ten years, which moved a combined 1,971.03 BTC between September 6 and September 22.
Throughout the month, even older wallets became active. An address that had been dormant since March 2011 moved 10.25 BTC, while on September 19, another 2011 wallet transferred 100 BTC valued at about $8.09 million.
Three days later, a wallet unused since July 2012 shifted an additional 600 BTC, worth roughly $51.9 million, marking another of the month’s significant awakenings.
Throughout September, the reactivation of several old wallets collectively involved assets valued at more than $100 million, underscoring the scale of dormant Bitcoin now entering circulation after years of sleep.
Mini dictionary: Galaxy Research is a blockchain analytics and research division of Galaxy Digital, which provides data, insights, and in-depth reporting on digital asset markets and blockchain activity.
Wallet originBTC movedWallet inactivityEstimated value at moveMay 201120.43 BTC15+ years$1.7 millionMarch 2010 (12 wallets)600 BTC16+ years$48 millionMarch 201110.25 BTC12+ yearsNot specified2011 wallet100 BTC12 years$8.09 millionJuly 2012600 BTC11 years$51.9 million
Key Points President Trump forecasted a swift conclusion to hostilities with Iran following discussions between U.S. representatives and intermediaries. Tehran has offered to reopen the Strait of Hormuz within one week if Washington agrees to specific conditions. Trump rejected claims that the U.S. offered sanctions relief or unfroze Iranian assets. Iran’s currency plummeted to an unprecedented low versus the dollar. Cryptocurrency markets showed Bitcoin hovering around $83,000 while Treasury yields remained elevated. During remarks in the Oval Office, President Donald Trump indicated that hostilities between Washington and Tehran would reach a conclusion in the near future. His statement followed communications between American representatives and diplomatic intermediaries working toward a resolution.
BREAKING: US-Iran talks have failed to make progress, with Trump now inclined to order a return to major combat operations after the November midterms, US officials tell Axios.
Trump said just six hours ago that the war will be over "very, very soon."
Iran's SNSC chief Rezaei…
— The Hormuz Letter (@HormuzLetter) September 30, 2026
Speaking with members of the press on Monday, Trump expressed confidence in achieving a favorable outcome. He emphasized that the United States would prevail and anticipated a rapid conclusion to the conflict.
The President’s remarks stopped short of announcing a formal cessation of hostilities. Neither Washington nor Tehran has publicly verified reaching any binding agreement.
The framework under discussion originates from Tehran’s diplomatic initiative. Iranian Foreign Minister Abbas Araghchi stated that his government submitted a proposal capable of restoring navigation through the Strait of Hormuz within a week.
Diplomatic Efforts Center on Sequential Actions Araghchi unveiled the Iranian framework during September’s United Nations General Assembly session. The proposal requires an end to military operations before Tehran would allow passage through the strategic waterway.
Following the reopening, both nations would commence negotiations regarding Iran’s nuclear activities. Tehran’s demands include lifting the American naval presence and reducing restrictions on petroleum exports.
The Iranian proposal also requested access to approximately $12 billion in assets currently frozen under sanctions. Trump dismissed this offer on September 26.
Diplomatic intermediaries have subsequently circulated a modified proposal. According to Financial Times reporting, negotiations now concentrate on coordinating the timeline for Iran’s reopening of Hormuz with America’s withdrawal of naval forces.
Trump categorically denied providing Iran with incentives related to nuclear negotiations. In a Truth Social post, he stated emphatically, “I offered them NOTHING.”
His refutation addressed U.S. concessions specifically. The denial did not contradict his previous acknowledgment that American officials had engaged with mediators.
The present diplomatic effort follows a failed June arrangement. That previous understanding would have permitted commercial vessels to transit the waterway during negotiations, but it dissolved due to disagreements over navigation corridors.
Tehran Confronts Intensifying Economic Strain Iranian officials maintain that any settlement must address American sanctions and military operations. Araghchi emphasized Tehran’s preference for a diplomatic solution.
Ebrahim Azizi, chairman of a parliamentary committee on security matters, challenged Trump’s characterization of how the conflict would conclude. No official confirmation of agreed-upon terms has emerged from either capital.
The Iranian rial collapsed past 2.5 million against the U.S. dollar on Tuesday. This historic depreciation reflects the combined impact of international sanctions and naval restrictions on petroleum shipments.
Trump suggested gasoline prices would decline following the war’s conclusion. Such an outcome hinges on finalizing an agreement that remains under negotiation.
Bitcoin maintained a position near $83,081 following Trump’s public statements. Ethereum traded around $2,680 while XRP hovered near $1.48, with both declining over 1.5%.
U.S. Treasury yields for 30-year bonds increased during this timeframe. The 10-year yield had touched 5.20% on September 25, with 30-year bonds closing at 5.47%.
American spot Bitcoin exchange-traded funds recorded $2.39 billion in net capital inflows across five consecutive trading sessions ending the previous Friday. Bitcoin had dropped beneath $84,000 after Trump rejected Iran’s original proposal.
Crude oil markets have responded to changing expectations regarding Hormuz. Brent crude stood at $106.77 while U.S. crude traded at $93.94 on September 29, based on Reuters data.
Petroleum shipments transiting the Strait of Hormuz have approached pre-conflict volumes. Analytics from Kpler indicated average daily flows of approximately 13.2 million barrels during the preceding week, notwithstanding ongoing military incidents.
US spot Ethereum (ETH) exchange-traded funds (ETFs) recorded $2.81 million in net outflows on September 29. The move ended a 7-day inflow streak that had brought roughly $850.8 million into the products.
Bitcoin (BTC) ETFs moved in the opposite direction on the same day. They took in $66.19 million, extending their own inflow run to 9 straight sessions.
How the Ethereum ETF Streak Lost Steam Before It BrokeThe streak began on September 18, according to SoSoValue data. It followed 3 sessions of outflows between September 15 and 17, which pulled about $404.8 million from the funds.
BeInCrypto reported that those outflows coincided with the Clarity Act stalling in the Senate. The largest day of the run came on September 21, when the funds drew $269.98 million.
Daily totals then eased across most of the following sessions and slipped to $17.1 million by September 28.
Ethereum ETF inflow streak ends with outflow. Source SoSoValueWeekly figures show how strong the run was at its height. The funds added $689.88 million in the week ending September 25, their biggest week since late August.
On September 29, BlackRock’s ETHA recorded the largest outflow at $8.94 million. Meanwhile, Grayscale’s Ethereum Mini Trust took in $12.83 million, which kept the net loss small.
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Ethereum Price Slipped While the Money Kept Coming InEthereum’s price fell during the same week the funds were attracting capital. ETH traded at $2,673.54 at press time, down 3.32% over 7 days, according to BeInCrypto Markets data. The token gained 0.41% over the past 24 hours.
Ethereum (ETH) Price Performance. BeInCrypto MarketsBitcoin showed the same split between price and flows. BTC dropped 3.78% over the week to $83,359, although its ETFs gathered roughly $3.08 billion during their 9-session streak.
Ethereum ETFs still hold $17.79 billion in net assets, equal to 5.45% of Ethereum’s market capitalization. They have also attracted $979.69 million in net inflows over the past 30 days.
The funds have opened this week with $14.29 million in net inflows, a fraction of the previous week’s pace. Flow data from the coming sessions will show whether ETHA’s exit stays isolated or spreads to other issuers.
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Bitcoin (BTC) maintains its position as the premier cryptocurrency investment as ETF-driven institutional interest accelerates. Ethereum (ETH) provides essential infrastructure for decentralized finance, stablecoin operations, and asset tokenization platforms. Solana (SOL) merges growing institutional participation with one of the industry’s most rapidly expanding ecosystems. Chainlink (LINK) stands to gain significantly as tokenized traditional assets gain traction in conventional finance. Hyperliquid (HYPE) represents the highest-risk option among these selections, though its expanding derivatives trading platform offers compelling fundamental support. Those seeking the best crypto to buy now are navigating a markedly different landscape than in previous market cycles. The role of institutional participants and exchange-traded funds has expanded considerably.
Cryptocurrencies demonstrating genuine utility are beginning to separate themselves from tokens dependent primarily on speculative momentum. For investors with longer time horizons, five digital assets warrant particular attention: Bitcoin, Ethereum, Solana, Chainlink, and Hyperliquid.
Bitcoin’s recent trading activity placed it near the $84,000 level. The leading cryptocurrency posted gains exceeding 40% throughout Q3 of the year.
American spot Bitcoin exchange-traded funds attracted approximately $2.4 billion in capital between September 21 and September 25. These figures indicate persistent institutional appetite despite periods of portfolio rebalancing.
Bitcoin Serves as the Foundation for Crypto Portfolios Bitcoin frequently represents the initial position for investors establishing long-term cryptocurrency exposure. Its protocol enforces a hard cap of 21 million coins.
Bitcoin (BTC) Price This immutable supply limit, paired with substantial market liquidity, distinguishes Bitcoin from alternative cryptocurrencies with smaller market capitalizations. The emergence of regulated investment vehicles has simultaneously lowered barriers to entry for retail participants.
Bitcoin is progressively viewed as an institutional asset class rather than purely a speculative trading vehicle. Strategy has expanded its treasury position to 847,666 BTC.
The return of capital flows into Bitcoin ETF products has introduced an additional demand dynamic.
Ethereum Underpins Digital Finance Infrastructure Ethereum presents a fundamentally different investment thesis compared to Bitcoin. It functions as the foundational layer supporting stablecoin networks, decentralized financial protocols, tokenized securities, and countless blockchain-based applications.
Corporate and institutional interest in Ethereum has intensified. American spot Ether ETFs have recently attracted several hundred million dollars in net inflows.
Current estimates suggest over 40 million ETH is actively staked on the network. This represents a substantial portion of circulating supply being committed to validation rather than available for trading.
Solana Draws Growing Institutional Attention Solana potentially delivers superior growth characteristics relative to Bitcoin or Ethereum, albeit with elevated risk factors. The blockchain has established itself among the most heavily utilized networks in the cryptocurrency sector.
High-speed transaction processing combined with minimal fee structures has enabled Solana to expand its decentralized finance and trading ecosystems. Institutional accessibility through regulated products continues to improve.
American Solana ETFs registered $5.4 million in net positive flows on September 29. This marked the seventh consecutive trading session with inflows.
Chainlink Bridges Blockchain Networks and Legacy Finance Chainlink delivers the oracle infrastructure and interoperability protocols enabling blockchain networks to interface with established financial systems. This functionality gains importance as equities, fixed income, and investment funds migrate to blockchain rails.
The protocol deployed CCIP 2.0 on September 28. The upgrade incorporates enterprise-grade capabilities including enhanced compliance frameworks and cross-chain security mechanisms.
According to Chainlink, CCIP has facilitated over $84 billion in cross-chain token transfers. Its partnership network now encompasses banking institutions, asset managers, and technology providers, including collaborations with Coinbase and Ondo.
Hyperliquid Presents Maximum Risk-Reward Profile Hyperliquid constitutes the most speculative selection among these options. The platform has developed into one of the cryptocurrency industry’s largest decentralized derivatives exchanges.
Data from DeFiLlama indicates the protocol maintains approximately $7.5 billion in total value locked. Trading activity reached roughly $210 billion in perpetual futures volume during the preceding 30-day period.
The majority of eligible platform fees generated by Hyperliquid are allocated to a treasury that purchases HYPE tokens. This mechanism establishes a direct correlation between trading volume and token buying pressure.
Hyperliquid simultaneously introduces greater valuation uncertainty, competitive threats, and execution challenges compared to Bitcoin or Ethereum.
These five digital assets each fulfill distinct roles within a diversified long-term cryptocurrency portfolio. Bitcoin and Ethereum establish the core positions, Solana introduces growth-oriented exposure, Chainlink provides infrastructure layer access, and Hyperliquid incorporates higher-risk, higher-reward potential.
Key Takeaways Tom Lee and Changpeng Zhao indicated optimism about an incoming crypto bull cycle Changpeng Zhao shared a meme-inspired post suggesting the market may soon recover Lee responded by challenging investors to evaluate their crypto exposure Lee maintains his ambitious price projections for Bitcoin and Ethereum Bitmine continues its weekly Ethereum acquisition strategy Tom Lee and Changpeng Zhao have reignited cryptocurrency market discussions this week. Lee serves as chairman of Bitmine Immersion Technologies, while Zhao founded the Binance exchange. Both industry leaders suggested that a significant bull market may be on the horizon.
The conversation began when Zhao shared an artificial intelligence-generated image of himself. The picture depicted him lying in bed, rendered in green night vision tones, with a drowsy yet startled expression.
The image referenced a widely recognized internet meme format. It implied that market participants might be unprepared when cryptocurrency valuations begin their next ascent.
Zhao’s social media activity also reinforced a previous statement highlighting the strong fundamentals of BNB Chain. That earlier message emphasized the sustained potential of the BNB cryptocurrency.
Lee replied to Zhao’s content with a concise question. He asked, “Agree, do you own enough crypto?”
Ambitious Projections and Continued Accumulation Lee has publicly stated his belief that the cryptocurrency sector has already entered a fresh bullish phase. He continues to stand by his long-term forecast of $150,000 for Bitcoin.
🇰🇷LATEST: Bitmine's Tom Lee says "a crypto BULL MARKET is underway.”
Tom Lee at Korea Blockchain Week 2026 outlines his reasons on why a crypto bull market is underway.
“Ethereum has been consolidating for 5 years” he adds. pic.twitter.com/Xd8n0qZIqL
— Coin Bureau (@coinbureau) September 30, 2026
Additionally, he anticipates Ethereum will climb to $60,000 within the next few years. Lee has reiterated these price predictions consistently throughout recent months.
Meanwhile, Bitmine has maintained its commitment to acquiring Ethereum. The company purchased 17,362 ETH during the previous week.
This latest acquisition brought Bitmine’s cumulative Ethereum position beyond 6 million tokens. Based on present market valuations, this reserve exceeds $16 billion in value.
Bitmine has executed Ethereum purchases weekly without interruption since launching its treasury accumulation approach in June of the previous year. The company has maintained this discipline regardless of market volatility.
Digital asset prices experienced substantial recovery throughout September. Bitcoin, Ethereum, and BNB all recorded monthly advances.
However, that upward movement decelerated recently. Rising Treasury yields applied downward pressure on cryptocurrency valuations.
Bitcoin declined approximately four percent during the preceding seven-day period but remains up more than seven percent for the month. Ethereum and BNB demonstrated comparable performance, declining weekly while maintaining monthly gains.
Bitmine’s equity also experienced weakness. The stock retreated modestly in extended trading and finished Tuesday’s standard session in negative territory.
Lee offered additional perspective on the cryptocurrency landscape during his appearance at Korea Blockchain Week. He suggested the approaching bull market may develop into the most substantial cycle on record.
He referenced cryptocurrency-related equities, which have outperformed during the third quarter. Lee interprets that performance as confirmation that a bull market has already commenced.
He also noted this cycle exhibits distinct characteristics compared to previous ones. Past cycles were propelled by ICOs, NFTs, meme tokens, and stablecoins.
For this cycle, Lee anticipates tokenization, artificial intelligence, and improved regulatory frameworks for cryptocurrency will serve as primary catalysts. He projects the market could experience a more significant breakout than previous cycles following an extended consolidation period.
Robinhood is pushing deeper into active trading with two major announcements: perpetual futures for eligible US customers and 24/7 weekend trading for select US stocks and ETFs, unveiled at the firm's HOOD Summit in Houston on September 29.
Crypto Perps Come to the US In the coming months, , with no expiration dates.
The weekend trading expansion remains subject to regulatory approval.
Sources:
Robinhood HOOD Summit 2026 Official Announcement
The Block: Robinhood to launch perps, weekend stock trading for US users
Bloomberg: Robinhood Debuts Weekend Trading, Perpetual Futures to Customers
The crypto market starts the month of October with multiple events likely to change the balance of power. Indeed, Bitcoin remains essential, however Ethereum, Solana, Chainlink, and BNB also have catalysts that would attract investors’ attention.
In brief Bitcoin remains at the center of the market, supported by flows to ETFs and the seasonality of October. Ethereum prepares a new stage of Glamsterdam with the Sepolia testnet scheduled for October 6. Solana bets on Alpenglow to significantly reduce transaction finality time. Chainlink enters October with CCIP 2.0 and new tools dedicated to interoperability. BNB Chain prepares the Jenner hard fork, expected on testnet before deployment in November. October 2026 concentrates several crypto catalysts Bitcoin closed the month of September around 84000 dollars after reaching levels unseen in many months. Moreover, the US Bitcoin ETFs have especially come back with significant inflows. Approximately 2.4 billion dollars were captured by these funds between September 21 and 25.
However, the macroeconomic context will remain crucial. On October 27 and 28, the Federal Reserve will meet. Therefore, US interest rates and mandatory yields remain capable of triggering strong fluctuations in risky assets.
Various events deserve particular attention in October :
Bitcoin behavior and flows to ETFs ; The Sepolia test of the Ethereum Glamsterdam upgrade on October 6 ; The expected deployment of Alpenglow on Solana ; The adoption of CCIP 2.0 at Chainlink ; The preparations for the Jenner hard fork of BNB Chain. Bitcoin and Ethereum remain the two references Bitcoin (BTC) remains the primary crypto to watch during October. Beyond its weight in the total valuation of the crypto market, it continues to set the pace for altcoins. Currently, institutional flows represent one of the essential indicators. Bitcoin ETFs recorded a significant return of capital at the end of September, after many more hesitant weeks.
Thus, October also benefits from a favorable reputation among investors. Bitcoin has closed this month up ten times out of thirteen between 2013 and 2025. Such seasonality, often called “Uptober”, does not necessarily guarantee an increase in 2026.
Regarding the crypto Ethereum (ETH), it has its own schedule. The network prepares Glamsterdam, its next major update expected in the fourth quarter. Starting October 6 with the Sepolia testnet fork, an important phase must occur.
The Glamsterdam upgrade should notably improve how Ethereum designs and verifies its blocks. Thus, the stakes go beyond the ETH price. The success of these tests will provide indications about developers’ ability to meet the planned schedule before transitioning to the main network.
Solana and Chainlink have technical catalysts Solana (SOL) would be one of the most watched cryptos during the month. The Solana Foundation plans the arrival of Agave 4.3 in October, with Alpenglow. This new consensus protocol aims for a finality close to 150 milliseconds, against nearly 12.8 seconds with TowerBFT.
It could be one of the most important technical changes in Solana’s history. The blockchain has already reduced its slot time and increased the maximum size of certain transactions in recent months. Alpenglow must push this latency reduction strategy much further.
Chainlink (LINK) also deserves a place in this selection. On September 28, the project launched CCIP 2.0. This new version of its interoperability protocol notably adds compliance tools, new verification options, and faster cross-chain transfers.
The timing is notable as tokenization of financial assets gains ground. Thus, the actual use of CCIP 2.0 by institutions or asset issuers will be one of the indicators to watch in October.
BNB completes the cryptos to watch in October This list is completed by BNB (BNB). BNB Chain is coming out of the Pasteur hard fork, which increased network capacities. The next project is Jenner, whose deployment on testnet is scheduled for the end of October before going live on the mainnet expected in November.
Jenner mainly aims to introduce a standard intended for assets compliant with regulatory requirements as well as an infrastructure reserving space in blocks for payments. BNB Chain thus wants to consolidate its positioning on stablecoins, payments, and tokenized assets.
Bitcoin, Ethereum, Solana, Chainlink, and BNB therefore present five different profiles. However, their interest for October relies less on a promise of increase than on institutional flows, technical upgrades, and concrete developments of their ecosystems. In a market still sensitive to Fed decisions, these catalysts will however have to be confronted with the macroeconomic context.
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Luc Jose A.
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Leading cryptocurrencies stayed resilient on Tuesday while rising government bond yields weighed on stock markets.
Crypto Market Holds SteadyBitcoin held on to support in the mid-$82,000 region, while bulls attempted a break above $85,000. Ethereum oscillated between $2,650 and $2,740, while XRP and Dogecoin inched higher.
Cryptocurrency-related stocks also fell, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing down 1.57% and 0.41%, respectively.
More than $220 million in crypto positions were liquidated over the past 24 hours, with long traders suffering most of the losses, according to Coinglass data.
Bitcoin’s open interest slid 2.20% over the last 24 hours. A fall in open interest alongside a price increase typically suggests short sellers are buying back contracts to close losing positions.
Investor sentiment leaned toward “Greed,” according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $2.96 trillion, up 0.30% over the last 24 hours.
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Stocks Extend LossesThe stock market continued its downward trend on Tuesday. The Dow Jones Industrial Average fell 131.59 points, or 0.26%, to close at 51,349.9. The S&P 500 dropped 0.16% to end at 7,670.84, while the Nasdaq Composite dipped 0.09% to close at 26,797.54.
Bond yields climbed further, while talks aimed at ending the war in Iran made limited progress.
The returns on long-dated 10-year Treasury notes climbed to 5.29%, its highest level since 2007, while the 30-year yield rose above 5.6%, reaching its highest level since June 2002.
On-chain analytics firm CryptoQuant noted that Bitcoin profit-taking has reached its highest level since Dec. 2024, a signal that demand is “fading.”
“The bull market is intact, but the rally is showing cracks. $80,000 is the first support to watch,” CryptoQuant added.
Blockchain research firm Santiment highlighted that wallets holding 10-10,000 Bitcoin accumulated 41,025 BTC over the past 10 days, increasing their share to 67.93% of the total supply.
However, retail wallets under 0.01 BTC have remained largely “flat” since the $87,000 price peak.
“The current divergence is encouraging, but it isn’t a guaranteed price signal,” Santiment stated. “That combination has repeatedly appeared before stronger Bitcoin moves.”
Bitcoin miners finally got some breathing room last week. It did not last. JPMorgan estimated that Bitcoin’s production cost was around $85,000. The token spent 280 days below this price, meaning miners were not seeing profit.
BTC briefly climbed up to $87,000 earlier this week, giving relief to miners.
Why $85,000 is Critical for Bitcoin PriceIn a September 23 note, JPMorgan analysts led by Nikolaos Panigirtzoglou called Bitcoin’s production cost a “soft floor” for the market.
At the time, Bitcoin traded at $85,795, just above the bank’s estimated mining cost of $84,948.
That mattered because Bitcoin had spent 280 days below that level. The stretch was even longer than the roughly 224-day mining downturn during 2018.
Implied Bitcoin cost of production vs. BTC price / Source: XHashrate also fell around 19% from its October peak, while mining difficulty dropped roughly 15%. Higher-cost miners switched off machines, retired older rigs and searched for cheaper power.
Some redirected capacity toward AI workloads.
“To the extent it is sustained, this new backdrop should provide relief to bitcoin miners, thus reducing the risk of forced selling by them,” wrote analysts at JPMorgan.
Miners are Selling Less, But They are Still SellingCryptoQuant data shows the worst selling wave came in February, when miner-to-exchange flows approached 24,000 BTC.
Later spikes were smaller: roughly 12,400 BTC in June, 13,500 BTC in August and about 10,000 BTC during September’s rally above $85,000.
Miner-to-exchange flows in 2026. Source: CryptoQuantThat supports JPMorgan’s argument that forced selling is easing. However, miners are still moving coins to exchanges whenever Bitcoin rallies.
Transfers do not always mean immediate sales, but the pattern shows that higher prices remain an opportunity for miners to raise cash.
The Recovery is Still FragileCapriole’s Hash Ribbons show a similar picture.
Bitcoin’s 30-day hashrate average fell from about 1,105 EH/s in late 2025 to 895 EH/s in August. It has since recovered to roughly 947 EH/s, barely above the 60-day average of 943 EH/s.
The gap is less than 0.5%, so the recovery could easily reverse.
With Bitcoin now roughly 2.4% below JPMorgan’s estimated production cost, the market has returned to the same uncomfortable line it only just escaped.
Dan Tapiero reveals why a new bull phase has begun, pointing to core revenue growth across stablecoins, tokenization, and Hyperliquid.
Dan Tapiero says a new bull phase has begun in the core assets of the digital asset space. The founder and CEO of 50T Funds explains where he’s seeing real revenue growth underneath the hood, from stablecoins and tokenization to Kraken, Ledger, and Polymarket, and why Hyperliquid has been leading the market.
Chapters:
0:00 Dan Tapiero on What Makes a Digital Asset Company Worth Backing
1:25 Passing on FTX, Celsius, and BlockFi – Why Valuation Matters
3:50 Where the Real Revenue Growth Is: Stablecoins, Tokenization, and Kraken
5:15 Bitcoin, Solana, and Why Hyperliquid Is Leading This Bull Phase
6:59 Raising the $500M 50T Fund and Institutional Appetite
9:41 50T’s $42M MoonPay Investment
11:05 Japan’s 30-Year Bond Base and the Biggest Macro Theme
14:04 Scott Bessent, the Yen, and Kevin Warsh’s Rate Hike
16:31 AI, Productivity, and the Natural Rate of Interest
18:22 The Debasement Trade: Why Bitcoin and Gold Win Long Term
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.
Six million barrels a day of oil still aren’t getting through the Strait of Hormuz, and Tracy Shuchart says markets are still tightening. The NinjaTrader Live senior economist explains why lost GCC production won’t come back quickly, why crack spreads are signaling stress, and why the global refining shortage could get worse heading into winter.
Chapters:
0:00 Tracy Shuchart on the Strait of Hormuz and Tightening Oil Markets
1:07 Crack Spreads, Russian Refineries, and the Global Refining Shortage
2:50 Fall Refinery Maintenance and a Dire Winter Setup
3:22 Why a US Diesel Export Ban Would Backfire
4:45 Gold vs. Bitcoin: Why Hard Assets Are Holding Up
7:15 Venezuela’s Oil Discount and What It Means for US Refiners
8:31 Venezuela as a Geopolitical and Critical Minerals Play
9:28 AI Data Center Debt and Stress in the Bond Market
11:02 The Coming Copper Shortage and AI’s Supply Problem
12:41 Can the US Grow Its Way Through a Supply Shock?
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.
When Bitcoin fell from $125K to $60K, not one of the 15 major institutions Bitwise interviewed sold, and many bought more. Ryan Rasmussen, head of research at Bitwise, breaks down the firm’s first institutional crypto adoption report, covering pensions, endowments, foundations, and sovereign wealth funds, and why they treat Bitcoin alongside gold as a hedge against debasement.
Chapters:
0:00 Ryan Rasmussen on Bitwise’s Institutional Crypto Adoption Report
0:49 Why No Institutions Sold Bitcoin During the Bear Market
1:45 Wells Fargo’s 2–3% Bitcoin Allocation and the Debasement Thesis
3:45 Fidelity, BlackRock, and 2–8% Bitcoin Allocations
4:50 How ETFs Made This Bitcoin Bear Market Shallower
6:24 $2.5B in Weekly ETF Inflows and a New Wave of Capital
7:06 Why Bitwise Believes the Bitcoin Bottom Was $60K
9:36 Why Institutions Hold Both Bitcoin and Gold
11:37 Sovereign Wealth Funds Selling Gold to Buy Bitcoin
15:17 Why Bitcoin Isn’t Correlated to Bonds, Gold, or Stocks
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.
Volmex Finance has listed perpetual futures contracts based on its Bitcoin Volmex Implied Volatility Index (BVIV) on Hyperliquid, creating what amounts to the first onchain market dedicated to trading Bitcoin’s expected volatility as a standalone asset.
Think of it as crypto’s answer to the VIX, the Wall Street “fear gauge” that tracks expected S&P 500 volatility. Except instead of being locked behind institutional brokerage accounts, this one lives on a decentralized exchange and comes with up to 5x leverage.
How the BVIV contract works The BVIV index captures Bitcoin’s 30-day expected implied volatility by pulling real-time options data from Deribit and OKX, two of the largest crypto options venues. Recent index readings have sat in the mid-to-high 30s, which gives a rough sense of the market’s current anxiety level about near-term BTC price swings.
The perpetual futures contract uses a linear payout model. For every 1.00 point the index moves, a trader gains or loses $1 USDC. So if you’re long BVIV at 35 and it spikes to 50 during a market panic, that’s a $15-per-contract gain, no options Greeks required.
Contracts are USDC-collateralized with isolated margin, meaning a blown position on your volatility trade won’t cannibalize your other holdings on the platform. Funding is calculated hourly rather than the more typical eight-hour intervals seen on most perp markets, reflecting the unique dynamics of a volatility index that can gap sharply.
The initial open-interest cap is set at $2 million, a deliberate guardrail as the market finds its footing. Trading is accessible through the Markets by Kinetiq frontend under the ticker mkts:BVIV.
Why trade volatility instead of price Volmex CEO Cole Kennelly framed the launch in those terms, calling it a significant opportunity for crypto traders and investors to access hedging and speculation strategies without the barriers typically associated with options trading.
Hyperliquid’s expanding menu The choice of Hyperliquid as the listing venue is notable. The platform has established itself as the dominant decentralized perpetual futures exchange, processing billions in daily trading volume with a valuation that has exceeded $90 billion. Adding a volatility-specific product diversifies the exchange beyond straightforward crypto price speculation.
Still, the product comes with documented risks. Volatility indices can exhibit gap behavior, where the index jumps sharply between calculation intervals rather than moving smoothly. For leveraged traders, those gaps can mean the difference between a manageable drawdown and a liquidation. The isolated margin structure helps contain that risk, but it doesn’t eliminate it.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Bitcoin’s (CRYPTO: BTC) rally keeps pulling in fresh capital, but the buying pressure behind it has turned uneven, according to Glassnode’s latest weekly report.
Spot Buyers Are Losing ConvictionGlassnode wrote in its Sept. 28 report that Bitcoin traded near $84,000 after touching $87,000 the previous Wednesday.
The week finished about 4% higher, but the report attributes that entire gain to the prior Monday’s jump, meaning the rest of the week showed limited follow-through.
The Relative Strength index climbed 14.8% to 70.4, above its upper band, showing momentum still reflects the earlier advance.
Perpetual futures traders turned outright sellers as open interest rose 2.1% to $38.9 billion, staying elevated even as bullish conviction cooled.
ETF Demand Is the One Bright SpotGlassnode also flagged that US spot ETFs pulled in roughly $2.7 billion in weekly net inflows, well above the report’s upper band, even as ETF trading volume fell from $18.1 billion to $14.9 billion.
In other words, strong inflows kept coming even as secondary trading cooled.
Capital flow data reinforced that trend. Monthly realized-cap growth hit 1.1%, above its upper band, while the share of supply in profit rose from 69.3% to 74%.
Buyers are clearly absorbing supply at higher valuations, but that same profitability now gives more holders a reason to sell into strength.
Why the Next Move Hinges on One Price ZoneGlassnode posted separately on X that Bitcoin sits up 35% from the August low while coin-denominated open interest has dropped almost 20% to its lowest level since March, a setup that could make the rally less exposed to leverage flushes.
One hurdle sits directly overhead: more long-term holder coins cluster between $84,000 and $85,000 than at any other price level on the chart. Bitcoin needs to clear and hold above that zone to keep the rally alive.
Glassnode noted altcoin spot volume has climbed to nearly four times Bitcoin’s, the highest ratio since September 2025. That kind of rotation into riskier assets has historically lined up with local Bitcoin tops.
Pakistan is making moves on two separate energy fronts: capturing methane from massive landfills, and mining Bitcoin with surplus electricity from underused power plants. While social media buzz has framed the story as Pakistan deploying Bitcoin miners powered by landfill methane, the actual picture involves two distinct government-backed initiatives that haven’t been integrated. One focuses on landfill gas capture for carbon credits. The other channels excess coal-plant electricity toward crypto mining and AI data centers. Both are real. The combination is not, at least not yet.
What Pakistan is actually doing with Bitcoin mining In May 2025, the Pakistan Crypto Council, led by Bilal Bin Saqib, announced plans to allocate roughly 2,000 MW of surplus electricity for Bitcoin mining and AI data center operations. The power comes from coal-fired plants currently operating at approximately 15% capacity, meaning the country is paying to maintain generation infrastructure that mostly sits idle.
The landfill methane side of the equation Separately, Pakistani authorities have been advancing methane capture projects at major landfill sites. The most prominent is the Mehmood Booti dumpsite, a 43-acre site that has accumulated approximately 13 million tons of waste since 1997. The Ravi Urban Development Authority (RUDA) and the Lahore Waste Management Company (LWMC) are leading the effort there.
An investment of roughly Rs5 billion (approximately $17.86 million) is going toward methane capture, flaring, energy conversion, leachate treatment, urban forestry, and solar park construction at the site. The project aims to generate around 100,000 tons of carbon credits annually, with target revenue exceeding Rs2 billion per year.
Another site, Lakhodair, is focused on generating millions of carbon credits aligned with Article 6 carbon market frameworks. These projects’ primary objective is carbon credit generation and emissions reduction, not powering crypto operations.
Roughly 73% of Pakistan’s waste sector emissions come from landfills, which contribute about 3% to the country’s overall greenhouse gas inventory. Capturing that methane instead of letting it escape into the atmosphere has clear climate benefits, and under international carbon trading mechanisms, it can also be monetized directly.
Why the two haven’t merged Globally, landfill-gas-to-Bitcoin operations do exist. Several projects in the US and elsewhere have demonstrated that methane from decomposing waste can power generators, which in turn run mining rigs. Pakistan has all the ingredients for this kind of project: massive, decades-old landfills producing significant methane, a government actively pursuing both methane capture and crypto mining, and a regulatory body, the PCC, that is explicitly trying to attract investment into digital asset infrastructure.
The methane projects are focused on carbon credits and emission reduction. The Bitcoin mining initiative is focused on monetizing surplus coal power. No confirmed project has bridged the two. A methane-powered Bitcoin mining operation would require additional infrastructure: gas capture systems connected to generators connected to mining hardware, with all the regulatory and engineering coordination that implies.
What this means for Pakistan’s crypto ambitions The methane capture projects at Mehmood Booti and Lakhodair are advancing on their own timeline, focused on carbon market revenue. The PCC’s mining initiative is advancing on a separate track with coal-surplus power. If Pakistan does eventually connect these initiatives, it would join a small but growing list of countries and companies using waste-derived energy for Bitcoin mining. Until that happens, what exists is a country making two separate bets on energy monetization, one through carbon markets and one through crypto.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
David Pan _ writes about the latest tinkering by Michael Saylor to revive Bitcoin accumulator Strategy Inc.’s crypto-funding engine. _
Perpetual payments
Michael Saylor is back in sales-pitch mode.
Bitcoin’s best-known evangelist is asking Strategy Inc. shareholders to approve shifting the dividend payments on its billions of dollars in outstanding preferred shares to daily from semi-monthly and quarterly distributions.
“This is the latest exciting development in the digital-credit space,” Saylor said in a video presentation Friday, where he outlined the benefits to liquidity and market efficiency for the securities paying an annualized yield as high as 12%.
The proposal is the latest in a string of moves by Saylor — who pioneered the strategy of companies buying and holding the cryptocurrency as an appreciation bet six years ago — to shore up demand after the firm’s outlook faded among investors. After initially selling common shares to fund purchases, Saylor shifted to non-dilutive preferred stock after the initial premium paid on the common evaporated.
Some market observers say the dividend change still doesn’t address the underlying question of whether “digital credit” can become a durable source of capital rather than a product that works only when enthusiasm for Strategy and Bitcoin is running high.
“The change would mainly reduce dividend-related volatility rather than the underlying credit and Bitcoin-linked risk,” said Lacie Zhang, research lead at Bitget Wallet. “Deeper liquidity is also not guaranteed simply by increasing the frequency of payments.”
Investors had initially flocked to the STRC, or Stretch, perpetual preferred securities marketed as being comparable to money market securities, but with junk-bond level returns. That was until Bitcoin’s price crumbled. Without a continual funding source, the financial flywheel created by Saylor risks grinding to a halt.
Strategy then sold a handful of Bitcoin in June, breaking with Saylor’s long-held recommendation to never part with the digital currency. That helped to send crypto prices even lower. To halt the slide, Strategy set up cash reserves and began buying back STRC to boost its price to par, a level that would make new issuance accretive to shareholders.
Despite repurchasing more than $1 billion of the variable-rate securities, the firm hasn’t been able to issue new STRC since May. Strategy — which has more than $14 billion in preferred shares outstanding — declined to comment beyond the presentation.
“The goal is pretty simple,” said Adam McCarthy, head of research at trading firm LO:TECH. “It’s another attempt of securing demand.”
Preferred stock sits between debt and common equity. Holders get priority over common shareholders for dividends, but typically give up much of the upside that comes with ordinary shares. And because Strategy’s preferreds are perpetual, the company doesn’t face a set date when it must repay the capital. That gives Saylor another pool of investors to tap for financing without relying solely on buyers of Strategy’s more volatile common stock.
Saylor isn’t alone in seeking to resort to daily payments to entice buyers. Strive Inc. has issued more than $1 billion of the securities since June. The much smaller Bitcoin treasury firm is paying an annualized yield of 13%, while using the proceeds to buy the non-income asset.
The voting process for Strategy shareholders is set to be completed on Oct. 28. With Saylor being the dominant shareholder, the measure is likely to pass.
And if daily dividends aren’t enticing enough to restart demand, the advocate for never selling your Bitcoin can always resume selling more of its $71 billion of the cryptocurrency to meet the never-ending payments.
Charting it out
Bitget recorded roughly $463 million in net outflows in the 24 hours into Tuesday, as customers moved assets off the platform following last week’s $388 million theft.
Counting it out
US spot Bitcoin ETFs attracted about $2.4 billion in the week ended Sept. 25, their biggest weekly haul since the period that ended on Oct. 10, when inflows topped $2.7 billion. That came just ahead of a selloff that extended through much of 2026.
Hearing them out
What we’re reading (and writing)
Bukele Turns to Stablecoins as Bitcoin Payments Fail to Catch On
Bitcoin Pioneer Adam Back’s Empire Beset by Hack, Lawsuits
Senate Investigation Finds Rampant Use of Tether by Iran (WSJ)
Blockchain.com Is Said to Target $500 Million IPO This Year
CFTC Pulls Back on Markets Enforcement Under Trump (NYT)
Crypto Hack Spurs $463 Million in Customer Outflows at Bitget
Pokemon Fan Charged With $55 Million Crypto Hack Goes on Trial
What we’re watching on Bloomberg TV
SEC Commissioner Hester Peirce joins Scarlet Fu and Tim Stenovec on “Bloomberg Crypto.” This week marks the last one for Peirce at the regulator. They discuss how the crypto industry has changed during her almost nine years in the position.
More from Bloomberg
Markets Daily for what’s moving in stocks, bonds, FX and commodities
Banking Monitor for staying on top of the global banking industry with emerging trends, winners and losers and market opportunities.
CFO Briefing for Nina Trentmann’s weekly newsletter on what finance leaders need to know
Going Private for coverage of private markets and the forces moving capital away from the public eye
Money Stuff for Bloomberg Opinion’s Matt Levine’s newsletter on all things Wall Street and finance
Investors withdrew over 4,000 bitcoins worth over $334 million at today’s prices in one hour after hacked Bitget resumed customer withdrawals, the company’s CEO has said.
Bitget CEO Gracy Chen told Bloomberg Television Tuesday that withdrawals from the exchange had since stabilized following the immediate bitcoin transactions.
Hackers last week made away with $388 million in crypto after targeting the Victoria, Seychelles-based exchange’s hot wallets.
“The withdrawals actually stabilized a lot today,” Chen said. “Those hundreds of millions [in bitcoin withdrawals] actually most of them happen on the first hour of the withdrawal restart.”
In a Monday X post, Chen said that 9,585 orders of 4,098 bitcoins were processed. The exchange is allowing customers to withdraw funds in phases.
Bitget froze withdrawals after blockchain experts flagged that money was leaving the exchange. Bitget later said the attack method in the incident was “highly consistent with known patterns of North Korean hacker organizations.”
Chen said that no cold storage funds were touched but rather attackers had “exploited vulnerabilities from third-party products to steal internal credentials, then used those credentials to send fraudulent withdrawal commands that bypassed our risk controls.”
She added that the company was using its own money to top up its protection fund after it dropped in size. Bloomberg reported that it was below $200 million after standing at $464 million before the hack.
Bitget said that it was the first “security incident of this nature in eight years.”
“The incident remains contained, and no further unauthorized transfers are possible,” the exchange noted.
Bitget is the sixth biggest by trading volume, according to CoinGecko, processing in the past 24 hours $811 million in transactions. The exchange’s customers are mostly based in Asia.
Attackers linked to North Korea’s government have long targeted crypto exchanges and are some of the most sophisticated cyber criminals out there.
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.
New York Fed President John Williams, the second-ranking official on the Federal Reserve’s rate-setting committee, pushed back on an October rate hike. The Fed has “no need for urgency,” he said.
Last week, markets predicted a 70% probability of an October rate hike. Today, it has dropped below 50%. What does this mean for Bitcoin and the wider crypto market?
Fed Can Wait After September’s HikeThe Fed raised its benchmark rate by a quarter point on September 16. This increased the borrowing costs for everything from mortgages to business loans.
Williams is vice chair of the Federal Open Market Committee (FOMC), the group that votes on rates. He spoke at the University at Buffalo.
“With the policy action we took at our September meeting, there is no need for urgency, and we have time to gather more information,” said Williams.
He still called 3.7% inflation “unquestionably too high.” He added that one more hike “may be appropriate late this year.” The Fed’s two remaining meetings of 2026 fall on October 28 and December 9.
Traders took the hint. According to CME FedWatch, which turns futures prices into odds, the chance of an October hike is now close to a coin flip. Weeks ago, it was well above 70%.
Target Rate Probabilities for 28 October Fed Meeting. Source: CME FedWatch ToolFed Governor Says More Rate Hikes Are Likely NeededFed Governor Michael Barr spoke at the Detroit Economic Club and sounded less patient. He tracks core PCE, the Fed’s preferred inflation gauge, which leaves out food and energy prices.
Over the past 20 months, he counted only two months when that gauge was in line with 2%.
“In my base case, further policy adjustments are likely to be needed to ensure inflation comes down to target in a timely fashion,” Barr said.
He said part of the pressure comes from spending on artificial intelligence (AI), which is pushing up chip prices.
Why Bitcoin Is Not Off the Hook YetHigher rates pay savers more on cash and bonds. That can pull money out of riskier assets like Bitcoin.
A delay would give risk assets more time. However, neither Williams nor Barr ruled out another hike this year. Williams pointed to “late this year,” and Barr said more increases are likely.
FED’S BARR SEES MORE RATE HIKES AHEAD
Fed Governor Michael Barr says further policy adjustments are likely needed, warning that inflation risks have increased while labor-market risks have receded.
Barr expects U.S. growth to accelerate from the 2% first-half pace, with AI…
— *Walter Bloomberg (@DeItaone) September 29, 2026
Bitcoin has held up so far. BeInCrypto reported that it rose 13% after the hike as institutional funds bought back in. Today, it rose just 0.2% over 24 hours, data shows.
Bitcoin (BTC) Price Performance. Source: BeInCryptoThe next test comes on Wednesday with August PCE inflation data, one of this week’s key catalysts. A hot reading could push the October odds back toward the 70% level they hit on Monday.
Riot Platforms has fully repaid its Coinbase Credit borrowing and closed the $200 million Bitcoin-backed facility, releasing the lender’s claims on pledged assets after settling principal and accrued interest on Sep. 21.
Summary
Riot terminated the Coinbase facility after paying all outstanding principal and interest through Sep. 21. Coinbase’s security interests were released, alongside the termination of its commitment to provide further loans. Riot held 5,821 BTC as collateral as of June 30, roughly 51% of its Bitcoin reserves. The facility carried a fixed 6.15% annual interest rate following an April amendment. Riot Platforms’ Form 8-K, filed with the U.S. Securities and Exchange Commission on Sep. 25, disclosed that the company voluntarily prepaid its outstanding borrowing under the agreement signed on April 21, 2026.
After receiving Riot’s repayment notice, Coinbase Credit was paid the remaining principal and all accrued, unpaid interest through Sep. 21, according to the filing. The payment discharged Riot’s obligations under the agreement and ended the lender’s commitment to make further loans.
Riot Platforms repayment releases pledged assets Under the terminated agreement, Coinbase Credit served as lender, collateral agent and administrative agent, the SEC filing stated. The facility allowed multiple drawdowns up to an aggregate principal amount of $200 million, backed by financial assets held with Coinbase Custody Trust Company.
Eligible pledged assets included Bitcoin, USDC, and cash, according to the disclosure. Alongside the repayment, Coinbase’s security interests under the collateral documents were released.
No early-termination fee or penalty applied, the filing said, because Riot repaid after the four-month anniversary of the agreement’s original maturity date. The day-count fraction used to calculate the termination charge was therefore zero.
In its June-quarter financial disclosure, Riot reported holding 11,380 BTC, including 5,821 BTC pledged as collateral. At the June 30 valuation of $58,527 per coin, the pledged holdings were worth approximately $340.7 million and represented about 51% of the company’s Bitcoin inventory.
Across its entire Bitcoin balance, Riot reported a value of approximately $666 million at quarter-end. Its August earnings release also listed $548.9 million in cash, including $77.5 million classified as restricted cash.
April amendment set a 6.15% fixed borrowing rate According to Riot’s first-quarter Form 10-Q, the Coinbase borrowing arrangement began as a $100 million facility on April 22, 2025. An amendment on May 20, 2025 doubled the lender’s commitment to $200 million.
By the first-quarter disclosure, Riot had drawn the entire facility, the company reported. It identified strategic initiatives and general corporate purposes among the intended uses, including capital spending associated with developing data centers.
Before the April 2026 amendment, the agreement charged interest based on the federal funds rate, subject to a minimum base rate, plus 4.5 percentage points. Riot reported an applicable interest rate of 8.3% as of March 31.
Under the second amended agreement, the company extended maturity to April 20, 2027 and replaced the previous pricing with a fixed annual rate of 6.15%, according to the quarterly filing.
Using that disclosed rate, a $200 million balance outstanding for a full year would incur approximately $12.3 million in interest. The figure is an annualized calculation from the loan terms, rather than the amount Riot paid when it settled the facility.
For U.S. shareholders, Riot’s disclosures concern a Nasdaq-listed company trading under RIOT. Its August earnings announcement identified Bitcoin mining and data center operations in Texas and Kentucky, alongside engineering and fabrication facilities in Denver and Houston.
Riot’s Bitcoin sales accompanied data center revenue In a May 1 report, crypto.news covered Riot’s first-quarter financial results, which showed revenue of $167.2 million, compared with $161.4 million a year earlier.
The company disclosed selling 3,778 BTC during the quarter for $289.5 million, while producing 1,473 BTC. According to the report, mining revenue fell to $111.9 million from $142.9 million, a decline Riot attributed to lower average Bitcoin prices and increased global network computing power.
Alongside mining, Riot reported its first quarter of data center revenue at $33.2 million, including $0.9 million from operating leases and $32.2 million from tenant fit-out services. The May report also noted that AMD exercised an option for another 25 megawatts, bringing its contracted capacity to 50 megawatts.
On July 3, a separate report documented Riot’s 500 BTC custody transfer to NYDIG, valued at approximately $30.72 million at the time. The report attributed the transaction to on-chain information shared by Onchain Lens.
For the second quarter, Riot’s earnings release reported total revenue of $174.2 million, up 14% from a year earlier. The company recorded $23.2 million in data center revenue and produced 1,587 BTC, compared with 1,426 BTC in the same quarter of 2025.
Other miners disclosed Coinbase borrowing and refinancing An Aug. 9 report detailed how MARA Holdings secured new Bitcoin-backed loans after pledging 18,750 BTC worth approximately $1.2 billion as initial collateral.
According to MARA’s SEC disclosure cited in that report, the arrangements provided $600 million in fresh borrowing through Coinbase Credit and Two Prime Lending. Coinbase’s $450 million facility included $300 million of new funding and the refinancing of an existing $150 million credit line.
Two Prime separately provided a fully drawn $300 million term loan at a fixed annual rate of 7.65%, the report stated. MARA said the proceeds could support general corporate purposes, including part of the cash consideration for its planned Long Ridge Energy & Power acquisition.
Earlier, a May 4 report covered Hut 8’s replacement of Coinbase financing with a $200 million FalconX credit agreement. Hut 8 said the new facility carried a fixed 7% annual rate, compared with 9% under the previous Coinbase arrangement.
Under that refinancing, Hut 8 said approximately 3,300 BTC would move out of pledged collateral once the transaction was completed. The company valued those coins at approximately $260 million using Bitcoin’s May 1 market price.
The amount of futures notional value backing Bitcoin on exchanges has slipped to 0.24 times relative to spot, its lowest reading in two years. That number might sound abstract, but it tells a concrete story: the leveraged speculation that once turbocharged Bitcoin’s price swings is quietly evaporating.
Think of futures notional as the total dollar value of outstanding bets on where Bitcoin is headed. When that figure shrinks relative to spot market activity, it means traders are pulling back from leveraged positions. A ratio of 0.24x suggests the futures market is now a fraction of the size it once was compared to the underlying spot market.
A market shedding its leverage habit The decline didn’t happen overnight. Aggregate Bitcoin futures open interest has drawn down between 47% and 55% from peak levels, with total notional exposure fluctuating between $40B and $70B. Offshore Bitcoin futures activity has fallen roughly 97% from the highs seen during the 2021 bull market frenzy.
CME Bitcoin futures, the venue of choice for institutional players, saw open interest and volume sink to 14-month lows earlier in the year. Daily open interest on the CME averaged under $8B in March, a stark contrast to the tens of billions that once rotated through the platform when basis trades were printing easy money.
The basis trade works like this: buy spot Bitcoin, sell a futures contract at a premium, and pocket the difference when the contract expires. Annualized basis yields used to exceed 20%. Now they’ve compressed to roughly 3-5%, which is barely enough to justify the operational complexity and counterparty risk involved.
Where the leverage went The futures notional decline doesn’t mean leverage has vanished from crypto entirely. Perpetual contracts and options markets have absorbed much of the speculative activity that once lived in traditional dated futures.
On Binance, which remains the dominant venue for crypto derivatives, the futures-to-spot deployment ratio has fluctuated between 8 and 9 times. CryptoQuant analysis flagged this as indicative of an unstable market depth with diminished speculative engagement.
The positioning data adds another layer of nuance. Leveraged funds have recently increased their short positions while asset managers have taken the opposite side, building long exposure.
What low leverage actually means for Bitcoin The waning institutional interest visible in CME data is particularly worth watching. If basis yields stay compressed and futures volumes remain depressed, the institutional thesis for crypto derivatives participation needs a new catalyst.
For spot traders, the environment is similarly challenging. Thin futures markets mean fewer arbitrage opportunities and less price discovery happening in the derivatives layer. That can leave spot prices more susceptible to idiosyncratic flows, like large wallet movements or exchange-specific liquidity events, rather than being anchored by a robust derivatives complex.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Sivar, built by Coinbase-backed Modveon under a five-year deal with El Salvador’s Bitcoin Fund Management Agency, settles transfers from the U.S. in a stablecoin on Base.
El Salvador launches a $2 stablecoin remittance app
Original Photo by wd toro 🇲🇨 on Unsplash
Posted September 29, 2026 at 7:18 pm ET.
El Salvador’s government and the startup Modveon launched Sivar, a national app that charges U.S. residents a flat $2 to send any amount of money to people in El Salvador who have verified their identity. The money moves as a stablecoin on Base, Coinbase’s blockchain.
The government and Modveon announced the national launch on Tuesday. Modveon signed a five-year agreement with AAB, a Salvadoran public institution whose full name is the Agencia Administradora de Fondos Bitcoin, or Bitcoin Fund Management Agency. The contract, which took effect this month, puts Modveon in charge of developing the app and running it day to day.
AAB is also one of Modveon’s investors, according to the release. The Palo Alto company has raised $10 million, a round it first announced in February, from backers that also include Coinbase Ventures and Firebolt Ventures.
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How the Money Moves Coinbase said its infrastructure handles Sivar’s payments from start to finish. Senders in the U.S. fund a transfer through Coinbase Onramp, every user gets a non-custodial wallet inside the app, and recipients can withdraw cash at more than 1,000 locations across El Salvador. The app keeps the crypto out of view, according to Coinbase.
Remittances to El Salvador came to about $9 billion last year, and roughly 92% of that money came from the U.S., the release said.
“Salvadorans send billions of dollars home every year, and too much of it disappears into fees,” Faryar Shirzad, Coinbase’s chief policy officer, said in the company’s blog post.
Payments are one part of the app. Salvadoran users verify their accounts with the national identity card, known as the DUI, and can then post, join local communities organized down to the district level and vote in polls. More than 25,000 Salvadorans used Sivar during a phased rollout before the launch, Modveon said. Bill payments, merchant payments and payments between citizens and the government are planned, depending on product, partner and regulatory availability.
From Bitcoin Law to Stablecoin Rails El Salvador made bitcoin legal tender in 2021 and launched Chivo, a government-sponsored bitcoin wallet. In early 2025, lawmakers amended the Bitcoin Law to make accepting bitcoin voluntary for businesses, a condition of a $1.4 billion loan deal with the IMF, which also said the government’s role in Chivo would be gradually wound down.
Stablecoin remittance services have drawn big checks this year. Félix, a WhatsApp-based remittance service for Latinos in the U.S., raised $200 million in equity and credit in September. Andreessen Horowitz led the equity portion.
Related Listen: How the Bitget Hack Reopened Crypto’s Fight Over Neutral Infrastructure
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Bitcoin continues, in my opinion, to show a generally positive structure, even though the market remains very volatile. After the recent rise, I would not be surprised to see BTC correct further before resuming. A drop towards the 82,000-79,000 dollars zone remains quite possible and, in my eyes, this would not mean that the bullish trend is over. On the contrary, this type of movement is necessary and healthy for the market.
After a strong rise, many traders arrive late, use too much leverage, and become vulnerable to a quick correction. A return towards 80/79K could therefore allow the market to clean some of these positions before attempting a new upward move.
87,400 and 82,000 dollars remain important levels On the upside, I am particularly watching the 87,400 dollars zone. On the downside, I am watching the 82,000-79,000.
ema 50 at 79,000 and the important levels I am watching If Bitcoin manages to clearly surpass this level of 87K and stay above it, this would strongly reinforce the scenario of a new bullish continuation. But before that, it is quite possible that the market continues to move sideways or undergo some abrupt movements.
It is precisely during these periods that many traders make the mistake of wanting to anticipate every candle. Personally, I prefer to wait for the market to confirm, I will look to open longs around 79k BTC.
Ethereum can also become interesting Ethereum is also in an area to watch. For me, the 2,800 dollar region is important.
If ETH manages to return above this level with strength, it could create an interesting movement, especially because many short positions are still present in the market.
If these traders start to close their shorts, this can quickly add buying pressure.
Altcoins continue to offer great opportunities In my latest article, I advised you to take a look at some altcoins and here we are. This month, some of the best opportunities did not come only from Bitcoin.
Cryptocurrencies like ZEC, ZAMA, NEAR and other altcoins have offered particularly interesting movements.
It is precisely several of these assets that have allowed me, through my futures operations and by deliberately using a small account, to surpass 14,000 dollars of profits for the month.
September operations CryptoCedric For me, this shows an important thing: it is not always necessary to have a huge capital to achieve good results.
What matters much more is to select the right assets, wait for the right levels, and above all, manage risk properly.
Be careful not to chase the price NEAR, for example, has seen a very significant rise in a short time.
Even though I remain positive on some of these projects in the medium term, I do not like to buy after a vertical rise just because everyone starts talking about it. I generally prefer to wait for a correction.
Zcash has also been one of the strongest assets recently. The trend remains interesting, but after such progress, it becomes even more important to protect profits and watch for signs of a slowdown. Being bullish on an asset does not mean holding a position no matter what.
Protecting capital remains a priority It is probably one of the most important lessons I have learned over the years.
When a position begins to show signs of weakness, I sometimes prefer to reduce my exposure and keep cash.
If the market clearly becomes bullish again afterward, I absolutely do not mind entering again, even slightly higher.
The goal is not to sell exactly at the top and buy exactly at the bottom. The goal is mostly to avoid unnecessarily large drawdowns.
My current scenario For now, my view remains generally positive.
I think Bitcoin can still experience volatility and potentially return towards 80,000 dollars before resuming. Above, 87,400 dollars remains for me the important zone to break.
Ethereum could also become much more interesting above 2,800 dollars, while altcoins continue to offer some of the best opportunities in the market.
This month is a good example: assets like ZEC, ZAMA, SOL, ONDO, or NEAR have largely contributed to my performance and allowed me to surpass 14,000 dollars in profits on my futures operations with a relatively small account.
The market therefore remains interesting, bullish, but one must accept a simple reality: even in an uptrend, the path is never perfectly linear.
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CryptoCedric
Cedric Cerezo is a professional cryptocurrency trader, market analyst, mentor, and international speaker. Recognized for winning two world cryptocurrency trading competitions, he specializes in Bitcoin market structure, on-chain analysis, institutional capital flows, and trading psychology. His research combines technical analysis with macroeconomic and blockchain data to deliver high-conviction market insights for investors and industry professionals.
Bitcoin is holding key support at $83,000, with analysts arguing that Treasury yields surging to a 24-year high have yet to derail crypto markets.
Notable Statistics:
Coinglass data shows 80,621 traders were liquidated in the past 24 hours for $292.56 million. SoSoValue data shows net inflows of $31.07 million from spot Bitcoin ETFs on Monday. Spot Ethereum ETFs saw net inflows of $17.1 million. In the past 24 hours, top gainers include Bitway, Curve DAO and Aave. Notable Developments:
XRP Compresses Around $1.50: What Does Technical Analysis Say?Bitcoin Plummeted After the Last 4 Midterm Elections: Will History Repeat?Bitcoin’s Rally Breaks Analyst’s Bear Thesis: What Happens Next?XRP or Solana: Which ETF Is Really Winning? The Answer Is ‘Very Simple,’ Bitwise CIO SaysBitcoin ETF Inflows Surge but ETH Still Outperforms: What Is Going On?Rising Bond Yields Stop Bitcoin’s Rally. These 3 Indicators Signal It May Resume SoonCoinbase Wins CFTC Approval for Its Own ClearinghouseTrader Notes:
Scott Melker’s interview with Andrew Parish, Tillman Holloway and Mark Yusko highlighted that ETFs, options and futures have transformed Bitcoin into an institutional yield opportunity, potentially changing traditional cycle dynamics.
Yusko argued rising Treasury yields aren’t necessarily bearish for Bitcoin, saying global liquidity matters more than rates.
Since late 2023, the 10-year Treasury yield has risen roughly 135 basis points while Bitcoin has approximately doubled.
Yusko estimates Bitcoin’s fair value at $104,000 to $105,000, leaving BTC undervalued in the $80,000s.
Image: Shutterstock
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Market News and Data brought to you by Benzinga APIs
BlackRock says that AI and crypto are built for the same user, a machine. The world’s largest asset manager says artificial intelligence could become an overlooked source of demand for digital assets.
The claim comes from a BlackRock research paper titled “The Machine-Native Economy.” Robert Mitchnick, the firm’s head of digital assets, co-wrote it.
“AI is machine-native intelligence and crypto is machine-native money,” the team wrote.
Why BlackRock Says Bank Cards Fall Short for AIAI agents are programs that finish tasks with little human help. Today’s payment systems were not built for them, according to BlackRock.
AI is machine-native intelligence and crypto is machine-native money. Both AI and digital assets translate real-world inputs into formats machines can use. Our latest research looks at why that connection could become increasingly important as AI evolves. https://t.co/z5T88Orble pic.twitter.com/IHYRlQvvZ3
— BlackRock (@BlackRock) September 29, 2026
Cards and bank transfers need a human to sign up. Their fees make penny payments pointless. Some take a day or more to settle.
Stablecoins, crypto tokens pegged to the dollar, never close. They moved more than $11 trillion in 2025, BlackRock says. That puts them in the same league as Visa and Mastercard.
The pipes are already being laid. Coinbase built x402, a tool that lets software pay a website instantly. Earlier this month, Cardano joined x402.
BlackRock Wants AI Computing Power to Trade Like OilThe bolder bet concerns compute, the raw processing power behind AI. Analyst estimates cited by BlackRock put cloud revenue at Amazon, Microsoft, and Google near $1.1 trillion by 2030.
BlackRock says that power could be sold in standard contracts, like oil, and settled on blockchains.
Stripe is already moving that way. In August, the payments giant agreed to buy OpenRouter, which routes AI requests across more than 400 models.
“Tokens are the central currency for companies building with AI,” said Patrick Collison, CEO of Stripe.
BlackRock Has Billions Riding on CryptoBlackRock also has money on the line. Its iShares Bitcoin Trust (IBIT) held $67 billion on September 25, per iShares. The fund has lost about a third of its value this year.
BlackRock IBIT Bitcoin Holdings. Source: iSharesThe paper carries its own fine print, too. It admits payments by AI agents are still limited.
It also cites tests where AI models chose stablecoins to spend and Bitcoin to save, a result BeInCrypto examined last week. However, those were simulations, not real purchases.
Grayscale has spotlighted four cryptocurrencies built for digital-currency use within its Currencies sector, singling out Zcash as the asset with the most room to grow.
Zach Pandl, Grayscale’s Head of Research, argues that Zcash could gradually capture part of Bitcoin’s enormous market share as demand for private digital payments grows.
Grayscale’s Four Digital-Currency BetsGrayscale places Bitcoin, Litecoin, XRP and Zcash among the main assets in its Currencies Crypto Sector.
The broader sector contains roughly 15 cryptocurrencies worth about $1.6 trillion combined. Bitcoin controls close to 90% of that value.
Litecoin and XRP have spent years pitching themselves as faster or cheaper payment alternatives. Yet neither has seriously threatened Bitcoin’s position.
XRP’s market cap, for example, remains only a fraction of Bitcoin’s despite being one of crypto’s largest assets.
Zcash offers a more unusual argument. Its main selling point is something Bitcoin, XRP and Litecoin do not provide by default: private transactions.
Why Grayscale Thinks Zcash Has Room to GrowZcash uses zero-knowledge proofs known as zk-SNARKs, allowing users to hide transaction amounts and wallet details.
By mid-2026, roughly 90% of Zcash transactions used shielded transfers. Grayscale sees that adoption as increasingly relevant as digital surveillance becomes more sophisticated.
The market has already noticed.
Zcash’s market cap has risen from roughly $4 billion in March to about $24.27 billion today. Yet that still leaves it below 1% of Bitcoin’s roughly $1.56 trillion valuation.
ZEC trades near $1,431 and has risen almost 19-fold over the past year.
That rally makes Grayscale’s thesis harder to dismiss.
It also raises the obvious question: after such a huge run, is Zcash still an overlooked challenger, or has the market already started pricing in the privacy story?
NEAR Protocol Price traded near $4.97 on September 29, down 4.62% over 24 hours.
NEAR price gained more than 15% this week. The token held above $4.90 as Bitwise introduced the first U.S. spot exchange-traded product tracking NEAR.
The broader crypto market rose 0.69% to $2.9 trillion during the same period. Bitcoin hovered around $84,000, Ether traded near $2,700, XRP stood above $1.50, and Solana price held above $120. That firmer backdrop offered some support, although NEAR still faced selling pressure around the $5.00 level.
Bitwise Launches First Spot ETF Bitwise said its NEAR ETF began trading on NYSE Arca on September 29 under the ticker NRR. The product holds NEAR directly, giving shareholders exposure through a conventional brokerage account. Shares trade during regular exchange hours. Its annual management fee is 0.75%, according to the fund manager.
Bitwise also intends to stake the fund’s tokens through its own institutional team. The company cited a current network staking rate of approximately 5%, though actual rewards can change. Those rewards accrue to the fund’s value instead of providing shareholders with a fixed cash payment.
The Bitwise NEAR ETF ($NRR), the first spot $NEAR ETP in the US, is now trading on NYSE Arca.
It gives institutions straightforward access to the protocol powering universal markets, the privacy renaissance, and user-owned AI. https://t.co/qqraopVABm pic.twitter.com/IwiqcZqohh
— NEAR Protocol (@NEARProtocol) September 29, 2026
The launch extends Bitwise’s single-asset lineup beyond Bitcoin and Ether to several other crypto assets. Its existing products include funds tied to Solana, XRP, and Hyperliquid. Still, the listing alone does not establish how much fresh capital NRR will attract.
Bitwise has emphasized NEAR’s role in transactions involving artificial intelligence agents. The company said NEAR Intents has processed more than $32 billion in cumulative volume. That compares with less than $1 billion roughly one year earlier, according to Bitwise.
NEAR Protocol Price Prediction: Will $5.00 Open a Move Toward $6.00? A four-hour reading placed NEAR around $4.93, with its active candle up 0.35%. The smaller rebound followed a sharp September advance from roughly $2.00 to above $5.00. Traders now face a test of whether that earlier climb can hold after the latest pullback.
A sustained four-hour close above $5.00 would improve the case for another challenge of $5.30. Clearing that recent high could then bring the marked $6.00 target into view as per the future NEAR outlook.
Source: TradingView The four-hour relative strength index stood at 51.57, close to neutral territory. Meanwhile, the MACD line remained below its signal line, and the histogram stayed negative.
If NEAR Protocol Price cannot reclaim $5.00, attention shifts toward the recent $4.70 area. A break beneath that level could expose support around $4.50.
This morning HBAR was the market’s best large-cap story. By evening it was the worst. Same news, same coin, twelve hours apart.
The crypto market has steadied after a rough start to the week. Total market cap sits near $2.86 trillion, up 1.1% on the day, and 61 of the top 100 coins are green. Bitcoin trades at $83,558, flat on the day (+0.27%) and down 2.03% on the week.
The calm has a reason. The Bureau of Economic Analysis releases August PCE inflation data on September 30 at 8:30 a.m. ET, two weeks after the Fed raised rates for the first time since 2023. Nobody wants a big position into that print.
Underneath the flat surface, two coins went in opposite directions on the same kind of news.
HBAR: From +22% to -16.5% Hedera (HBAR) trades at $0.1043, down 16.5% over 24 hours. Earlier today it was up more than 20% and traded above $0.12.
The fuel was a September 23 announcement from The Hashgraph Group: its Hedera-based IDTrust identity platform for AI agents was listed on the IBM Cloud Catalog. A real partnership, but a narrow one. This is a partner’s product on a cloud marketplace, not IBM building on Hedera itself.
The market seems to have reached the same conclusion within a day. HBAR is still up 9.91% on the week, so the move has not been erased. But anyone who bought the midday spike is now sitting on a loss of roughly 15%.
Longer view: our HBAR price prediction.
QNT: The Rally That Has a Date Attached Quant (QNT) trades at $270.48, up 12.84% today and 299.39% over seven days. It roughly quadrupled in a week.
The difference from HBAR is the size of the counterparty. On September 24, The Clearing House announced that Quant will power its On-Chain Money Initiative, a network for clearing and settling tokenized bank deposits, with connections to the RTP and CHIPS payment rails. Full details in our report on The Clearing House selecting Quant.
Now the honest part. The network is expected to open to banks only in the first half of 2027. The token has priced in a lot, very fast, for a product that is months from launch. HBAR just showed what happens when a pump outruns its news. A +299% week makes QNT the riskiest chart on the board for anyone buying now.
The Rest of the Board CoinPrice24h7dQNT$270.48+12.84%+299.39%NEAR$5.03+6.29%+15.16%UNI$8.98+2.73%+1.01%ETH$2,691+0.74%-1.20%BCH$307.66+0.28%+15.90%BTC$83,558+0.27%-2.03%TRX$0.335-0.30%-3.81%ZEC$1,399-4.10%-7.67%HBAR$0.1043-16.50%+9.91% Two names worth a sentence each:
Uniswap (UNI) and Bitcoin Cash (BCH) stabilized after heavy losses earlier in the session. Both are due to get CME futures on October 19, pending regulatory review, per CME Group’s September 22 announcement. BCH is still up 15.90% on the week on that news. Our coverage: CME’s Bitcoin Cash and Uniswap futures. NEAR is quietly one of the strongest large caps: +6.29% today and +15.16% on the week, with no single headline behind it. The One Number That Matters QNT +299% in seven days vs HBAR -16.5% in one.
Put those two numbers side by side and you have the lesson of the day. Enterprise-partnership news can move a token enormously, and it can reverse just as fast. The only difference between the two today is time. HBAR’s reversal happened within hours. QNT’s has not happened yet, and it may not, because a bank-owned clearing house is a much larger counterparty than a cloud listing. But “may not” is not the same as “will not”.
Bottom Line The market is flat and waiting on PCE. Bitcoin holds $83,500. HBAR shows how quickly a partnership pump can unwind, and QNT is the rally everyone is watching to see if it does the same. A hot PCE print tomorrow would test every one of these moves at once.
FAQ Why is HBAR down today? HBAR fell 16.5% to about $0.104 after rallying above 20% earlier in the day on news that a Hedera-based identity platform was listed on the IBM Cloud Catalog. Traders took profits once the size of the deal became clear. HBAR is still up about 10% on the week.
Why is Quant (QNT) up? The Clearing House selected Quant on September 24 to power its tokenized deposit network for US banks. QNT is up roughly 299% over seven days, though the network only opens to banks in the first half of 2027.
What is the crypto market doing today? The market is roughly flat to slightly up, with total market cap near $2.86 trillion and 61 of the top 100 coins green. Traders are cautious ahead of August PCE inflation data on September 30.
What is the Bitcoin price today? Bitcoin trades around $83,558, up 0.27% on the day and down about 2% on the week. See our bitcoin price page for live data.
When is the PCE inflation report? The Bureau of Economic Analysis publishes August personal income and outlays, including PCE inflation, on September 30, 2026 at 8:30 a.m. ET.
Is it too late to buy QNT? Nobody can say. A token that quadrupled in a week carries high reversal risk, as HBAR showed today. Never invest more than you can afford to lose.
Disclaimer: This article is for information only and is not investment advice. Cryptocurrency is highly volatile. Do your own research before making any financial decision.
AUTHOR
Simeon is a detail-driven editor who sharpens every piece with clarity and precision, ensuring clean, consistent, and professional content throughout.
Bitcoin (CRYPTO: BTC) has pulled back to $84,000 over the last week, but the real test is yet ahead in light of rising Treasury yields, according to a Binance Research note published Monday.
Brent crude topped $103 on Sept. 23, while PMI data hit a 62-month high. A weak 5-year Treasury auction then pushed October rate-hike odds toward 70% and sent the 10-year yield to 5.17%, its highest level since 2007.
Bitcoin has pulled back to around $84,000 in response, which the analysts say shows pressure at the long end of the yield curve matters more right now than the Fed’s actual policy decision.
Yet, Binance Research analysts Moulik Nagesh and Ken Lam wrote in their note that three bullish signals could counterbalance the macro pressure on Bitcoin.
ETF Demand Is Turning PositiveSpot Bitcoin ETFs saw net outflows for most of 2026, bottoming at a cumulative net outflow of $5.69 billion on July 13.
That reversed sharply on Sept. 21, when ETFs pulled in $999 million in a single day, the largest daily inflow of the year and the biggest since Oct. 6, 2025.
Flows have stayed positive since, pushing 2026 into net positive territory even through the recent bond selloff. To the analysts, this signals real spot demand rather than futures-driven speculation.
Bitcoin Reclaimed Its 50-Week Moving AverageBitcoin closed the week of Sept. 20 at $81,159, its first weekly close above the 50-week moving average since Nov. 9, 2025, a 45-week gap.
The next test is whether Bitcoin holds above that level through market pullbacks. Most historical reclaims haven’t led to new cycle lows, though the analysts note the signal isn’t infallible.
A Golden Cross Followed a Deep ResetA golden cross formed Sept. 8, when the 50-day moving average crossed above the 200-day, following 293 days spent below it.
Looking at 12 prior similar crosses, those following at least 150 days below the 200-day average were associated with peak gains between 100% and 600% within the following year.
The analysts caution these figures represent peak gains rather than guaranteed returns, and the small, overlapping sample size limits how much weight to put on the pattern.
What’s NextUpcoming inflation and employment data will decide which force wins out:
Bullish scenario: Softer-than-expected core PCE data eases rate pressure and supports the recovery Bearish scenario: Hotter inflation, strong payrolls, or an upside GDP revision reinforces the case for another Fed hike and adds fresh pressure on Bitcoin Photo via Shutterstock
Bitcoin’s hold on the crypto market is starting to weaken. BTC dominance has fallen below 59%, while altcoin trading volume is now nearly four times higher than Bitcoin’s. At the same time, ETH/BTC has broken a nearly five-year downtrend, pointing to a possible shift toward altcoins.
These signs are sparking the talk of a broad “Altseason.”
Bitcoin Dominance Falls Below 60%The first sign of a possible market shift is Bitcoin’s falling dominance. BTC dominance has dropped to around 58.9%, slipping below the important 60% level. This means Bitcoin now holds a smaller share of the total crypto market.
At the same time, altcoin dominance has jumped by 16.7% to 8.75%. This shows altcoins are taking a larger share of the crypto market.
The shift follows a pattern often seen during altcoin seasons. Bitcoin leads first, then its dominance falls as traders move more capital into higher-risk altcoins.
Altcoin Trading Volume Jumps Nearly 4x BitcoinGlassnode data shows altcoin spot trading volume has risen to nearly four times Bitcoin’s volume, reaching its highest level since September 2025. The shift is also visible in performance, with 72.5% of tracked altcoins outperforming Bitcoin through September 23, compared with 39% during the August rally.
Spot traders are turning to altcoins.
Total spot volume now runs close to 4x Bitcoin's, the highest since September 2025.
Demand for higher risk like this has often lined up with local tops in $BTC. pic.twitter.com/O5ySkK8Hqn
— glassnode (@glassnode) September 28, 2026 Spot buying is also playing a bigger role, while altcoin futures leverage has remained mostly unchanged.
The same trend is visible in major altcoins.
U.S. spot Ethereum ETFs recorded six straight days of inflows, ending the week with $689.9 million in net inflows. Meanwhile, U.S. spot XRP ETFs extended their inflow streak to 11 straight weeks, with cumulative inflows now above $1.79 billion.
ETH/BTC Adds Another Altcoin SignalThe ETH/BTC chart adds another sign of rising altcoin strength. Ethereum has finally broken out of a nearly five-year downtrend against Bitcoin and is about to close its third straight green month.
This matters because Ethereum often leads when money starts moving beyond Bitcoin. A stronger ETH/BTC trend can also support large- and mid-cap altcoins.
Meanwhile, the OTHERS/BTC chart shows a similar shift. After a four-year downtrend, the ratio has broken above its long-term trendline and started moving higher after the 2026 breakout.
Similar patterns appeared in earlier market phases around 2017, 2021, and 2024, when ETH and other altcoins started gaining strength after Bitcoin led the market.
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Bitcoin, the leading cryptocurrency, retreated after testing above $87,000 and is currently trading in the $82,000-$85,000 range.
With uncertainty surrounding Bitcoin’s direction, and the technical outlook back in focus after a prolonged downturn, Binance Research has released an updated analysis.
In its latest report, Binance Research, referring to the golden cross in Bitcoin, stated that the current formation bears similarities to the golden cross of October 2015, and that Bitcoin rose by approximately 150% from its peak level in the period that followed.
Golden Cross Signal in Bitcoin! Binance Research reported that the “golden cross” formation that Bitcoin, the highest-volume asset in the cryptocurrency market, created in September bears similarities to some past recovery periods.
According to Binance Research, Bitcoin’s 50-day moving average crossed above the 200-day moving average on September 8th, forming a “golden cross.” Prior to this formation, Bitcoin spent 293 days below its 200-day moving average.
At this point, Binance Research’s report examined 12 past examples of golden crosses.
The report states that in the crossovers formed after Bitcoin remained below the 200-day moving average for at least 150 days, the peak gains seen in the following year ranged from approximately 100% to 600%.
However, Binance Research noted that these figures represent the maximum gains achieved over the following period, not the return on one-year holdings.
In contrast, Binance Research noted that in four of the other six cases where the period below the 200-day average was relatively short, the maximum gain within a year remained below 100%.
Similarities with the 2015 Period! Binance Research states in its report that the current technical pattern is particularly similar to the golden cross seen in October 2015, after which BTC surged by 150%. According to the report, during that period, Bitcoin formed a golden cross after a prolonged correction and then experienced a significant rise. At that time, Bitcoin also recovered its technical outlook after a long period of weakness and entered its next major bull cycle.
However, Binance Research emphasizes that historical similarities do not guarantee future price movements. Due to the limited sample size in the analysis and the potential for overlap between periods, historical performance alone should not be considered a bullish indicator.
Macroeconomic conditions are decisive!
Despite the technical improvement in Bitcoin, macroeconomic pressures persist. Binance Research notes that the US 10-year Treasury yield has risen to 5.17%, reaching its highest level since 2007, and that interest rate expectations are putting pressure on Bitcoin.
According to the report, in the coming period, technical signals as well as inflation and employment data will be closely monitored to determine if Bitcoin can maintain its upward trend.
*This is not investment advice.
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