Zest Protocol, the firm operating Bitcoin’s largest DeFi lending market on Stacks, is in the news today after announcing the launch of a capped mainnet demonstration for its Bitcoin Collateral Vaults. Bitcoin users can now deposit real BTC into a self-custodial vault on Bitcoin L1 and borrow real USDC against it, without wrapping or bridging.
Zest Protocol has opened a capped public demo of its Bitcoin Collateral Vaults on mainnet. This marks the first full public-mainnet deployment of its native-Bitcoin collateral vault infrastructure. It will allow users to deposit native BTC and borrow against it using real assets.
What is Zest Protocol actually doing? Bitcoin Collateral Vaults are self-custodial vaults on Bitcoin L1, enforced by Bitcoin’s own rules and built for BitVM proof verification. Ordinary DeFi approaches require users to wrap BTC into a token such as wBTC or bridge it to another chain. However, Zest Protocol keeps the BTC on Bitcoin, in the user’s own vault, never pooled with other users’ coins.
Proofs of the vault’s state travel to EVM chains, where users borrow stablecoins against it, and proofs of repayment or liquidation on the destination chain govern what happens to the BTC on Bitcoin. In the mainnet demo, users lock real BTC and borrow real USDC, with collateral capped per wallet while the system is proven at scale.
Watch the Bitcoin Collateral Vault process in action – Here
The demonstration runs on mainnet with real BTC and real USDC, capped per wallet. Owing to the same, users can test the full flow at small size: deposit BTC into an individual Bitcoin Collateral Vault and borrow USDC on Ethereum. Each vault holds one user’s coins only, and the same coins come back on repayment. Caps stay in place until the protocol completes extensive external audits, after which Zest Protocol moves to production launch with institutional partner activations in the lead-up.
Proof of the mainnet demo’s functionality, including Bitcoin transaction hashes, vault addresses, and EVM contract interactions, is available for independent verification on public block explorers here.
Community reactions According to Tycho Onnasch, Founder of Zest Protocol,
We’ve spent five years on programmable Bitcoin, first on Stacks and now on Bitcoin itself. Today you can put real BTC in a vault on Bitcoin and borrow against it on mainnet. That’s why Zest Protocol exists: turning Bitcoin from an idle asset into productive capital. We’re very excited to put this in people’s hands.
Here, it’s worth noting that the mainnet demo also carries key lessons from two years of running the Zest Protocol Stacks Market, the largest lending market on Bitcoin L2s, which reached over $100 million in peak TVL with zero bad debt and no BTC lost.
Bitcoin Collateral Vault borrowers get partial liquidations instead of all-or-nothing, partial withdrawals, and a vault. This will be controlled by one ordinary Bitcoin key, with nothing else to manage.
Tim Draper, Founder of Draper Associates, chipped in too and stated,
I backed Zest Protocol because this team has been building on Bitcoin longer than almost anyone, and they know how to ship great products with amazing user experience. Seeing real Bitcoin collateral working on mainnet, with the coins never leaving Bitcoin, is something I’m incredibly excited about.
All about Zest Protocol and its latest approach Zest Protocol was founded by core contributors to the Stacks blockchain, including co-architects of the sBTC and Nakamoto upgrades. Prominent investors included Draper Associates (led by Tim Draper), YZi Labs, Trust Machines, Flow Traders, and Asymmetric.
The protocol’s native token, ZEST, was launched in May 2026 via Binance Alpha. It is currently traded on major exchanges including KuCoin, Gate, MEXC, and HTX.
The native self-custodial approach adopted by Zest Protocol tries to remove third-party counterparty risk. Now, while there are hybrid options such as those adopted by Kraken to bypass these native code breaches, they also elevate centralization risk.
To overcome these two limitations, there are some proposing a new institutional approach. Under the same, users’ physical BTC will be untouched with regulated custody. Instead, deposits are mirrored and tracked by receipt tokens and used for lending purposes across DeFi.
Even so, Zest Protocol’s latest update remains a step in the right direction.
Bitcoin traded at $86,379, up 0.24% since midnight UTC, with daily volume down 36% to $38 billion after Monday's breakout.Breadth has narrowed sharply, 38 of 100 CoinDesk 100 constituents lower on the day against 13 over the rolling 24 hours, placing the weakness in the past few hours.Brent crude fell below $100 for the first time since Sept. 9 on hopes of a U.S.-Iran deal, taking the last of the energy-driven inflation scare out of the picture.Bitcoin BTC$85,449.61
is consolidating on Wednesday after an explosive breakout on Monday, trading at $86,379 in the European morning, up 0.24% since midnight UTC and 1.3% over 24 hours as daily trading volume dips by 36% to $38 billion.
Beneath the surface the rally has narrowed sharply, with 38 of the 100 CoinDesk 100 constituents lower on the day, even as the index itself rose 0.67% to 1,926.99. Over the rolling 24 hours the picture is still broad, 87 higher and 13 lower, which places the weakening firmly in the past few hours rather than on Tuesday.
The majors have split rather than moved together, XRP (XRP) adding 3.3% to $1.62 and bitcoin cash BCH$348.36
2.0% to $351.59, while ether ETH$2,717.14
slipped 0.089% to $2,750.24 as chainlink LINK$12.69
lost 0.0053%.
Brent crude has fallen back below $100 for the first time since Sept. 9, trading at $99.13 after touching $108 in mid-September, which takes the last of the energy-driven inflation scare out of the picture that followed the Federal Reserve's Sept. 16 rate rise. Oil’s dip can be attributed to hopes that a deal will be struck between the U.S. and Iran, with a Qatari mediator currently in New York having talks with U.S. officials, while Iranian President Masoud Pezeshkian is scheduled to address the UN General Assembly later today
Traditional havens are being sold with it, gold down 0.85% to $4,321 and silver 2.2% to $65.53, while the dollar index rose 0.21% to 100.76 and U.S. equity futures sat close to unchanged, leaving crypto as one of the few places with a bid at all.
Derivatives positioningFutures volume falls as open interest ticks up: Crypto futures trading volume has tanked by 21% to $227 billion in 24 hours, while open interest (OI) edged up 1% to $159.4 billion. Taker flow has turned decisively short for the first time in over a week, with shorts making up 51% of volume. It’s a shift worth watching since falling volume plus rising OI alongside short-heavy flow reads more like the market is positioning for a pullback.Binance borrow costs near a multi-month high: USDT margin borrow rate stands at 5.49%, just under last week's 5.52% high, the highest since October. Elevated borrow costs make leveraged longs more expensive to hold, adding a headwind on top of the bearish taker flow.BTC OI isn't confirming the dip: Bitcoin slipped below $86,000 in European hours, but OI is flat near Tuesday's 710K BTC. A price drop with no OI increase is a sign of de-risking, not fresh short conviction. Whale positioning is cooling, not reversing: Binance's whale long/short account ratio dipped below 0.98, while position ratio sits at 1.97, down from above 2.3 recently. OKX and Bybit whales are closer to neutral around 1. This reads as large accounts trimming longs rather than flipping short.XRP OI climbs, but not on the pullback: Futures OI rose for a second day to 2.50 billion tokens, the highest since Aug. 20, though most of the build came during Thursday's earlier bid, not the European-session drop to $1.59 from $1.69. Binance whale bias is "extremely bearish" on XRP per Coinglass.BCH is the standout, and the positioning backs it up: Bitcoin cash is up over 30% on news of CME futures, with OI up nearly 7% to its highest since Aug. 22, an 8% annualized funding rate, and the most positive 24-hour OI-adjusted CVD among majors. All three point the same direction – a rally supported by long build, not just a headline-driven spike.Funding turns expensive in NEAR and smaller alts: NEAR longs are paying an annualized 43% funding rate. Among smaller names, BTW funding has topped 100%, a level that typically signals overheated, crowded longs vulnerable to a flush.Implied vol stays cheap despite the rally: Deribit's DVOL sits near 38%, around the 23rd percentile of its annual range. Per Deribit, "it signals that implied volatility remains cheap relative to historical spot momentum," meaning options aren't pricing much froth even as spot grinds higher.Options flow leans toward higher strikes, with a floor below: Call OI is building at $90,000, $95,000 and $100,000, mostly via condor and butterfly structures, while OI at $75,000 and below suggests traders see that as firm downside support.Token talkBitcoin cash BCH$348.36
is the standout performer, up 32% over 24 hours to $351.59 against a 2.0% gain since midnight. This follows the CME’s decision to announce a listing for BCH futures alongside uniswap (UNI).Memecoins have split from the rest of the market, bonk BONK$0.0₅3779
rising 14% since midnight and 17% over 24 hours and NFT collection token pudgy penguins PENGU$0.01018
8.3% and 20%, while the CoinDesk Memecoin Index fell 0.31% on the day as spx6900 (SPX) lost 1.1%, pepe PEPE$0.0₅4699
1.0% and pump.fun PUMP$0.004191
1.9%.Interoperability token layerzero ZRO$1.4829
gained 22% over 24 hours to $1.44 and indexing protocol token the graph GRT$0.02678
14%, both up far more over the rolling window than since midnight, which is where most of the CoinDesk 100's 2.7% 24-hour gain has come from.The DeFi Select Index (DFX) added 0.83% on the day and 9.6% over 24 hours, the strongest of the CoinDesk index family on both measures, though the gains are concentrated in aave AAVE$146.79
at $151.18 and aerodrome finance (AERO), up 6.1%, rather than spread across the sector.Worldcoin WLD$0.4493
led the decliners at 3.0% lower, followed by polkadot DOT$1.1534
at 2.9% and solana-based liquid-staking token jito JTO$0.5102
at 2.8%, with jito the only one of the three also down over 24 hours, at 0.16%.Related Assets
12345678910The Definitive Stablecoin Landscape Series: Asia Pacific
The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Sep 15, 2026
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Bitcoin's current stabilization around $60,000, which most retail investors have rushed to call the long-awaited cyclical "bottom," is highly likely to prove false.
Bloomberg Intelligence's leading macro strategist, Mike McGlone, has issued a stark warning: a final bottom forming at these levels is "unlikely," and the market is on the verge of a broad return to historical averages.
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For large investors, this statement changes the rules of the game, turning the current rebound to $86,200 into a final warning of a crash—and, at the same time, a rare opportunity to set aside cash for buying at much more attractive lows.
Echoes of the 2008 crisis: why Bitcoin at $60,000 may not hold and where investors should look for the real bottomThe main argument against the durability of the current bottom is the unprecedented liquidity shortage in the crypto market. Bitcoin is squeezed by fierce competition from traditional finance. McGlone notes: "too much competition for non-income-producing assets from the US Treasury 10-year yield's move above 5% in 3Q."
When risk-free U.S. Treasury bonds offer a guaranteed yield of 4.95%–5.00%, while the S&P 500 Total Return Index is pushing to new all-time highs, institutional capital simply sees no reason to hold positions in volatile Bitcoin, which generates no passive income.
Bitcoin chart versus 10-year Treasury yields and S&P 500, warning of macroeconomic headwinds, Source: Bloomberg IntelligenceThe historical reference point here is WTI crude oil in 2008. "Guidance for Bitcoin's direction may come from WTI crude oil's downward price path since its first month-end close above $100 a barrel in February 2008," the strategist notes. Bitcoin's break above $100,000 in January 2025 acted as a "high-price cure," setting off a prolonged downturn in demand.
The economics of supply and demand are now playing out in full amid a fundamental shift toward a surplus of up to 9 million barrels per day in the U.S. and Canada by 2027.
"Similar rules of supply-and-demand economics may continue to pressure Bitcoin since it first closed above $100,000 in January 2025," McGlone stresses, pointing to the inevitability of WTI returning to $40.
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Bloomberg's crash warning is more than a bearish manifesto; it is a roadmap for those looking for exceptionally attractive entry points. The market's true phase of deflationary cleansing will begin alongside a correction in overheated U.S. stocks.
"A top prerequisite for typical post-inflation deflation hasn't yet occurred — about a 20% drawdown in the US stock market that stays down for a while," McGlone emphasizes.
Once that scenario plays out, Bitcoin's inevitable return to its mean will open a long-term window of opportunity for buyers. Historical economic cycles and Bloomberg Intelligence's calculations suggest that the real, fundamentally justified bottom—where large investors should begin building positions—is at $10,000.
With Treasury yields still around 5%, September's rally looks like a temporary reprieve. It gives investors a chance to exit the overheated asset above $80,000, wait for the true liquidation phase, and enter the market at the lows.
Bitcoin traded near $86,000 after US spot Bitcoin ETFs recorded nearly $999 million in single-day inflows, their strongest in 11 months. Institutional demand and short liquidations supported the rally, while analysts watched $89,000 as a potential trigger toward $100,000.
ETMarkets.comBitcoin holds near $86,000 after record ETF inflows, with institutional demand and short liquidations supporting the cryptocurrency’s strongest weekly gains since early 2026.
Bitcoin traded near the $86,000 mark on Wednesday after US spot Bitcoin ETFs recorded their largest single-day inflow in 11 months, at $999 million. The cryptocurrency was last trading at $85,938.
In the past 24 hours, Bitcoin and Ethereum were down 0.02%. Among the major altcoins, BNB, XRP, Solana, Dogecoin, Cardano gained upto 4.43% whereas Tron was down 1.54%.
Prateek Gupta, Head of Business, Mudrex said the move also pushed BTC above its 365-day moving average for the first time since March 2023. Interestingly, on-chain data shows unusually little profit-taking for a move this size, though the Coinbase Premium Index remains negative, suggesting this rally has leaned more on futures and ETF flows than organic spot buying so far.
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He further said a sustained move above $89,000 could open doors toward the $100,000 mark.
The global crypto market capitalisation was down 0.08% to $2.92 trillion, according to data on Coinmarketcap. The crypto fear and greed index stands at 78, which suggests the market sentiments are somewhere between ‘Greed' and 'Extreme Greed”, said CoinDCX Research Team.
Balaji Srihari, VP - Business, India, CoinSwitch said BTC surged to $87.4K, its highest level since January 2026, as strong institutional demand and short liquidations accelerated the move. U.S. spot Bitcoin ETFs recorded nearly $999 million in net inflows on 21st September, led by major issuers including BlackRock and Fidelity, while roughly $648 million in short positions were liquidated.
Over the last week, Bitcoin and Ethereum were up 13.49% and 14.20% respectively. Among the major altcoins, BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin, and Cardano gained upto 31.26%.
Avinash Shekhar, Co-Founder & CEO, Pi42 said the latest move in crypto market is a good example of how quickly sentiment can change when geopolitical uncertainty starts to ease.
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Market perspective
Riya Sehgal, Research Analyst, Delta Exchange : ETF flows have been a major part of the story. U.S. spot Bitcoin ETFs drew roughly $999 million in net inflows on September 21, marking their strongest daily inflow since October 2025.
Vikram Subburaj, CEO, Giottus: Bitcoin is trading near $86,500 after gaining almost 14% over the past week. The immediate driver is the return of institutional demand. US spot-Bitcoin ETFs attracted nearly $1.96 billion over four trading sessions through September 22.
Nischal Shetty, Founder, WazirX: The broader crypto market is trading with a positive bias, with total market capitalization rising toward $2.93 trillion and 24-hour trading volume at approximately $110.73 billion.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Bitcoin hovered near $87,200 on Wednesday, following statements from US President Donald Trump that American officials had a “very good meeting” with Iranian representatives in New York. Data from CoinGecko showed Bitcoin gained approximately 14% over the past week, rebounding sharply from the $75,600 level seen on September 15. The leading cryptocurrency’s market capitalization now stands at about $1.75 trillion.
US-Iran Talks and Market ReactionPresident Trump stated that envoys Steve Witkoff and Jared Kushner conducted a three-hour negotiation session with Iranian officials at the United Nations General Assembly, which included Iranian Foreign Minister Abbas Araghchi. Trump described these discussions as “very productive” and suggested that another round would follow soon.
Iranian state media reported that the Iranian delegation reiterated their conditions, including lifting the US naval blockade and unfreezing Iranian assets. Iran reportedly indicated its willingness to reopen the Strait of Hormuz within seven days if the US initiated steps to de-escalate tensions.
Covering the summit, journalist Elizabeth Hagedorn shared on X that Jordan’s King Abdullah referred to his meeting with President Trump regarding the regional situation as “very good.” According to Hagedorn, King Abdullah expressed cautious optimism by crossing his fingers when asked about a possible Iran deal.
Amid these developments, oil prices fell for a sixth consecutive day, settling at $89 per barrel. Trump has suggested that a definitive decision around a new Iran agreement may not take place before the November midterm elections.
AssetRecent Price1-Week ChangeMarket CapBitcoin$87,200+14%$1.75 trillionOil$89 per barrelDown 6 straight days—Analyst Outlook: Smaller Bull Cycles ExpectedKi Young Ju, CEO and founder of CryptoQuant—a blockchain analytics firm based in South Korea—shared that he anticipates Bitcoin’s current bull cycle to be less intense than previous phases. Ju expects potential gains in the range of three to five times, rather than the tenfold rallies commonly observed in earlier years.
He noted on X, “I expect this Bitcoin bull cycle to deliver 3–5x rather than another 10x+ parabolic rally, followed by a milder bear market.” He did not specify a price or exact starting date for these calculations.
Ju indicated that as Bitcoin’s global adoption has expanded and institutional activity has grown, the market has matured, reducing the likelihood of both extreme gains and deep losses seen in earlier cycles.
Ju highlighted that the MVRV ratio, which measures Bitcoin’s market value against holders’ average cost basis, has remained above one throughout the current cycle—even during substantial corrections. He also emphasized that older large holders, or “whales,” have mostly stopped selling, while new entrants continue to accumulate Bitcoin at recent price lows.
He further commented that “giving up the 10x parabola also means giving up the 80% crash.” Previously, Bitcoin reached an all-time high just under $126,000 in October 2025 before retreating to around $60,000 this year.
Mini dictionary: MVRV ratio, or Market Value to Realized Value, is a blockchain metric comparing a cryptocurrency’s market value to the average acquisition price among holders. A ratio above one indicates most holders are in profit.
ETF Inflows, Futures Positioning, and Market ActivitySpot Bitcoin ETFs attracted $433 million in new inflows on September 18 following recent outflows. Tim Sun, a researcher at digital asset platform HashKey, stated that ETF flows often follow rather than lead major price movements.
Bitcoin futures open interest increased over 1% in 24 hours to $61.40 billion, as reported by crypto analytics provider Coinglass. Open interest climbed over 5% on CME and more than 6% on Hyperliquid, while Binance saw a decline of nearly 2%.
Amid this activity, trading volumes have decreased by 32% as traders anticipate statements from Federal Reserve officials later this week. While Bitcoin dominated, other major cryptocurrencies including Ethereum, XRP, Solana, and Zcash also recorded gains during the period.
Bitcoin remains trading around the $87,200 mark, with an intraday high of $87,251. Separately, Iran’s President Masoud Pezeshkian is scheduled for meetings at the UN later today.
According to Ki Young Ju, founder of CryptoQuant, the Bitcoin bull cycle would multiply its price by three to five, compared to more than ten during some historical phases. This forecast is based on less extreme volatility and a significant institutional presence, but it does not represent a guaranteed price target.
In brief Ki Young Ju anticipates a less explosive Bitcoin bull cycle, with a potential return of 3 to 5 times. A starting point at 58000 dollars would place bitcoin between 174000 and 290000 dollars, without constituting an official target. The rise in capitalization and the arrival of institutional investors could reduce volatility compared to previous cycles. On-chain data supports the idea of a more mature market, with potentially less deep corrections. These indicators do not guarantee any price trajectory, and the scenario will depend notably on flows and long-term holders. CryptoQuant forecasts a less explosive bull cycle On September 22, Ki Young Ju made a presentation on a scenario in which Bitcoin’s progression would remain under the explosions observed during its early cycles.
He therefore emphasized:
I expect a return of 3 to 5 times this bull cycle, rather than a new parabolic rise of over 10 times.
The CryptoQuant leader thinks that the market expansion reduces the influence of speculative capital. When Bitcoin’s valuation was lower, limited inflows were enough to trigger strong rises. Then, outflows caused corrections of up to 80%.
His scenario relies on four essential developments :
The price could be multiplied by three to five during the cycle ; The next bear market could trigger a less deep correction ; Institutional investors would limit some speculative movements ; A higher capitalization could reduce the effect of each new flow. Such progress implies a compromise. Bitcoin could offer fewer parabolic increases, but it would also be less exposed to the crashes observed during previous cycles. Ki Young Ju sees this stability as a factor able to attract more capital in the long term.
The low point at $58,000 changes the calculation This publication by Ki Young Ju does not explicitly specify the price from which his multiple should be applied. Thus, it would be misleading to directly multiply the current price, near $86,000, by three or five.
At the end of June, Bitcoin reached a low point near $58,000. Taking this level as the start of a new cycle, multiplying by three could give nearly $174,000. Multiplying by five would lead to $290,000. This range represents a simple mathematical translation of the scenario, not an officially set target by CryptoQuant.
A price of $174,000 would exceed the record of $126,080 reached in October 2025 by nearly 38%. Bitcoin has already gained about 49% since its low point in June. Part of the projected return would thus already be realized if this date indeed serves as a reference.
Moreover, a price multiplied by three corresponds to an increase of 200%, not 300%. Similarly, multiplying by five constitutes a rise of 400%. Such a distinction avoids overestimating the extent of the forecast.
Bitcoin volatility decreases gradually This analysis by Ki Young Ju aligns with a trend documented by Fidelity Digital Assets. In a study published in 2024, the company observed a gradual decline in Bitcoin’s volatility as its capitalization increased. Logically, identical capital produces less effect when it enters an increasingly deep market.
However, market size does not explain everything. A new analysis by Glassnode attributes about 19% of trend-adjusted volatility fluctuations to the supply held by long-term investors. This illiquid supply would justify nearly 12% compared to just 3% for capitalization.
When many bitcoins remain immobilized in long-term wallets, the volume available for transactions decreases. This situation can stabilize the price when supply and demand remain balanced. It can also amplify movements if demand suddenly increases or if former holders start selling again.
On-chain indicators do not guarantee the rise Ki Young Ju also bases his scenario on CryptoQuant’s profit and loss index. Its 365-day moving average shows lower peaks than during earlier cycles, but also more resilient troughs. The MVRV ratio would have remained above one, including during the recent correction. Thus, holders collectively retained a market value greater than their estimated acquisition cost.
Realized capitalization is also rising, which CryptoQuant interprets as the arrival of new capital. Hence, sales from large historical addresses would have slowed down, while many significant players in the futures markets would have taken bullish positions near the low point.
These indicators support the hypothesis of a more mature cycle, yet they do not validate an immediate trajectory toward $174,000 or $290,000. The annual average of the profitability index remains below zero and continued to decline. The evolution of institutional flows, volatility, and long-term holder sales may therefore determine if CryptoQuant’s scenario is confirmed.
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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.
PANews reported on September 23, citing CoinDesk, that Bitcoin oscillated near $86,000 on Wednesday, following a breakout move on Monday. Data shows BTC is now trading at around $86,379, up 1.3% over 24 hours, while intraday trading volume fell 36% to $38 billion. The CoinDesk 100 Index rose 0.67%, but 38 of its constituent assets declined intraday, indicating the recent rally has clearly narrowed.
In derivatives, crypto futures trading volume fell 21% over 24 hours to $227 billion, open interest (OI) edged up 1% to $159.4 billion, and the share of active seller trades rose to 51%; Binance's USDT margin lending rate climbed to 5.49%, near multi-month highs. BTC OI remained roughly flat at around 710,000 coins, and the whale long/short position ratio declined, with the overall picture closer to reducing positions than turning short. In the options market, open interest in call options at the $90,000, $95,000 and $100,000 strike prices is increasing, while $75,000 and below is viewed as a relatively strong support zone.
SlowMist: Official FOMO iOS App Exposed to Contain Crypto-Stealing Malware, Was Available on App Store for a Week
Blockchain security firm SlowMist has warned that the official FOMO iOS app was found to contain malware capable of stealing cryptocurrency assets. The affected versions of the app were available on the App Store between September 9 and September 17. SlowMist stated that the malicious module has attack capabilities similar to the DarkSword malware, which could result in the theft of users’ seed phrases and private keys. Given that the FOMO app was promoted via crypto KOLs, some users may have downloaded the affected versions. SlowMist also cautioned that simply updating or deleting the FOMO app may not be sufficient to eliminate the risk; users who used the affected versions should assume their seed phrases, private keys, and sensitive credentials have been compromised, and take corresponding security measures. Additionally, SlowMist’s Chief Information Security Officer Shan Zhang previously warned that iOS versions 13 through 16.5 may be vulnerable to malicious Safari link attacks exploiting memory corruption vulnerabilities in WebKit and JavaScriptCore. Attackers can leverage these flaws to gain read and write access to the JavaScript layer, further bypass pointer authentication, escape the WebContent sandbox, and escalate kernel privileges, ultimately obtaining encryption keys and wallet data.
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The upward movement in Bitcoin and altcoins continues to attract attention. BTC has climbed above $87,000 since January, and analysts say it is giving significant technical signals confirming Bitcoin’s entry into a new bull market.
At this point, according to CryptoQuant analysts, Bitcoin (BTC) has crossed its 365-day moving average again for the first time in nearly three years, signaling a significant shift in the long-term market outlook.
New Bull Market Signal in Bitcoin: Critical Level Exceeded! In its latest report, CryptoQuant stated that Bitcoin has given a technical signal indicating the start of a new bull market by rising above the 365-day moving average, which is used to track long-term market trends.
According to CryptoQuant’s weekly analysis, BTC’s reclaiming of the 365-day moving average around $80,500 was considered a significant indicator that the market was changing direction.
This means BTC has recovered that average for the first time since March 2023.
The company stated that in past market cycles, Bitcoin rising above its 365-day moving average coincided with the start of bull markets, while falling below this level coincided with bear markets.
CryptoQuant stated that bull markets were observed after the indicator rose above the levels seen in 2019 and 2023, while downward breaks in late 2021 and November 2025 coincided with bear market periods.
According to the report, the 365-day moving average, as well as the Bull Score, have been in bullish territory since mid-August and are currently at the 80 level. The Bull-Bear Market Cycle Indicator has also moved from the early bull phase to the “Bull” phase. At this point, CryptoQuant noted that three indicators signaling in the same direction offer stronger confirmation compared to a single indicator.
Breaking Through Key Resistance Levels Also Supports the Bullish Outlook! Bitcoin’s vượt qua the key supply zone between $76,000 and $81,000 was also among the key developments highlighted in the analysis.
At this point, Bitcoin has surpassed the $76,000-$81,000 range where long-term investors and early adopters who hadn’t moved in over seven years made significant sell-offs earlier in the year. According to CryptoQuant, this region stood out as one of the areas where long-term Bitcoin holders concentrated their selling pressure.
It was stated that with this level being surpassed, Bitcoin has overcome the strongest supply resistance it has faced in the short term.
Thus, the next significant resistance zone for the price has shifted to the $88,000-$90,000 range. The $90,000 level is particularly important as it intersects with the upper band of the on-chain price action for investors. CryptoQuant noted that as the price approaches this region, selling pressure could increase as investors’ profit margins widen.
Critical Support Levels for Bitcoin: $80,400 and $70,600! Despite the bullish outlook and signals, CryptoQuant also pointed out that corrections in the Bitcoin price are possible.
According to the analysis, the 365-day moving average around $80,400 acts as a significant support, while the 200-day moving average at $70,600 stands out as a more critical support level below.
CryptoQuant notes that while momentum and technical indicators are upward, price corrections can be seen in the early stages of a bull market, and the current uptrend does not completely rule out such pullbacks.
*This is not investment advice.
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Bitcoin has climbed back above $86,000, but Bloomberg Intelligence senior commodity strategist Mike McGlone is warning that the recovery could face another sharp reversal. McGlone sees Bitcoin caught between the $100,000 area and a potential return toward $60,000, citing high Treasury yields, stock-market risks and weaker support from traditional markets.
Mike McGlone Warns of a Bitcoin “High-Price Cure”McGlone’s “high-price cure” theory suggests that unusually high prices can eventually weaken demand and trigger a correction. He has compared Bitcoin’s move above $100,000 in January 2025 with crude oil’s rise above $100 a barrel before its major decline in 2008.
Using this comparison, McGlone has questioned whether Bitcoin has already established a durable bottom around $60,000.
He also noted that Bitcoin has struggled to remain significantly above previous resistance levels even as major U.S. stock indexes continue to trade near record highs.
McGlone further point to increased competition within the digital-asset market. While gold primarily competes with other precious metals, Bitcoin now competes with thousands of cryptocurrencies and Layer-1 networks for global investment capital.
5% Treasury Yields Add More PressureMcGlone sees the U.S. Treasury market as another potential source of pressure. The 10-year Treasury yield has moved toward 5%, providing institutional investors with an income-generating alternative to Bitcoin.
He also warned that Bitcoin’s correlation with equities could increase downside risk during a broader market correction. If the S&P 500 falls sharply, Bitcoin could face additional selling as investors reduce exposure to riskier assets.
Ki Young Ju Sees a 3x – 5x RallyWhile McGlone warns about higher volatility, CryptoQuant founder Ki Young Ju sees a more controlled Bitcoin cycle. He expects Bitcoin to rise 3x to 5x, instead of the 10x-plus rallies seen in earlier cycles.
Ju said Bitcoin’s larger market size and growing institutional ownership are helping reduce extreme price swings.
His on-chain data also supports this view. Bitcoin’s MVRV has stayed above 1 throughout the current cycle, while realized capitalization continues to rise.
Meanwhile, Bitcoin recently climbed above $86,000, its highest level in eight months. U.S. spot Bitcoin ETFs also recorded around $1.71 billion in inflows over two days, led by BlackRock and Fidelity, showing strong demand from institutional investors.
Story Ends Here
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Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
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Bitcoin price today surged towards the $85,000-$87,000 range after breaking above key technical resistance levels, with strong spot Bitcoin ETF buying emerging as a major driver of the latest rally.
BTC price recently moved above the $81,000-$82,000 area, where it had faced resistance around its 50-week moving average and 365-day moving average. Bitcoin then extended gains toward $85,000-$86,000.
Bitcoin ETFs Drive BuyingStrong demand from U.S. spot Bitcoin ETFs has supported the move higher. According to Data, Bitcoin ETFs purchased more than 12,000 BTC in one recent session, followed by another day of purchases exceeding 8,000 BTC. The buying has helped reduce selling pressure and provided additional momentum after Bitcoin moved above the $80,000 level.
Bitcoin ETF Inflows Approach $1 BillionU.S. spot Bitcoin ETFs recorded nearly $1 billion in inflows in a single session, adding to a sharp increase in institutional demand. The daily inflows rose from $159 million on Thursday to $433 million on Friday before approaching $1 billion on Monday.
The increase has coincided with Bitcoin’s move toward eight-month highs.
Bitcoin’s rally has also triggered significant short liquidations. More than $900 million in leveraged short positions across Bitcoin and the broader crypto market were reportedly liquidated over a 24-hour period.
Bitcoin Price Faces Resistance Near $90,000Despite the bullish momentum, Bitcoin faces several resistance levels ahead.
Short-term holders have reportedly booked profits around the current price range, creating potential selling pressure between $86,000 and $88,000. Bitcoin could then face another resistance zone around $88,000-$90,000 linked to its 100-week moving average.
A sustained weekly or monthly close above these levels could strengthen the bullish technical structure.
Fidelity International’s global macro director said Bitcoin may be entering a new bull-market phase if it can maintain levels above approximately $85,500.
CryptoQuant founder Ki Young Ju has also suggested that investors should not expect another 10x Bitcoin rally. Instead, he has outlined the possibility of a 3x to 5x gain during the next bullish cycle, followed by a relatively mild bear market.
Such a scenario would put Bitcoin significantly above current levels if the projected gains materialize.
Bitcoin’s recovery has also improved momentum across the broader altcoin market. Several major altcoins have recently outperformed Bitcoin.
Glassnode data as showing signs that market conditions could be shifting from a Bitcoin-led phase toward an altcoin cycle. Several sectors, including Layer-1, Layer-2, DeFi and gaming tokens, have recorded strong rebounds after significant declines.
Ethereum has moved toward the $2,600-$2,800 range, ETH Price could face resistance near $3,000 if its current recovery continues.
Solana has traded around $120. XRP rose 13%. Zcash gained roughly 40% during the week and entered the top 10 cryptocurrencies by market capitalization.
Other notable weekly gains included Dogecoin at 22%, Cardano at 24%, Chainlink at 16%, and Hyperliquid at 26%.
Near Protocol recorded one of the larger moves, rising about 90% over seven days and 126% over the month. Uniswap gained roughly 44% over seven days and 100% over the month, while Avalanche rose about 50% during the week.
Sui, Aptos Pepe, Bittensor and Canton also recorded significant weekly gains.
Altcoin Season Has Not Been ConfirmedDespite the current crypto rally, the altcoin season index remains between Bitcoin season and altcoin season rather than confirming a full altcoin cycle.
However, other indicators are showing improving conditions for altcoins.
There is a rise in the market-cap index for altcoins outside Bitcoin and the top 10 cryptocurrencies. The index is described as bullish on the weekly timeframe.
Bitcoin dominance has also been declining since July 25, suggesting that altcoins have been gaining market share relative to Bitcoin.
These indicators could point to an early rotation toward altcoins, but they do not by themselves confirm that a full altcoin season has begun.
Story Ends Here
Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Ripple‘s XRP token has registered strong gains in recent trading sessions, with the price advancing 8.3% in the past 24 hours, 26.5% over the last week, and nearly 12% in the previous month, according to data from CoinGecko. The asset currently faces resistance at the $1.65 price level as investors assess whether the rally will continue through the end of the year.
Market performance and historical contextXRP experienced a significant surge in 2025, hitting an all-time high of $3.65 in July after Ripple reached a settlement with the US Securities and Exchange Commission (SEC). The conclusion of this legal dispute delivered regulatory clarity for the token, leading to increased investor confidence and driving the price higher.
Despite last year’s bullish momentum, XRP has faced strong headwinds in 2026. The token’s price has declined approximately 56% from its 2025 peak. Developments throughout the year weighed heavily on investor sentiment, but recent upside movement signals renewed interest in the asset.
XRP reached an all-time high of $3.65 in July 2025 following the settlement with the SEC, but is currently trading about 56% below that level.
Potential catalysts for further gainsAnalysts have identified several factors that could propel XRP toward the $2 mark before the end of 2026. One significant catalyst is the prospect of a final diplomatic agreement between the United States and Iran. Iranian officials have indicated willingness to reopen the Strait of Hormuz within seven days if a deal is concluded, which has already contributed to a drop in oil prices.
Lower oil prices could translate into reduced inflation rates, potentially prompting the Federal Reserve to ease its monetary policy in the coming months. A shift to lower interest rates is often seen as bullish for risk assets, including cryptocurrencies such as XRP. Consequently, easing monetary conditions could pave the way for the asset to rally toward the $2 threshold.
Mini dictionary: Strait of Hormuz, a strategic waterway in the Middle East that handles a significant portion of the world’s oil shipments; any closure or reopening of this strait can heavily influence global oil prices and, by extension, inflation rates.
EventXRP Price2025 All-Time High$3.65Current Resistance$1.65Potential Target$2.00Bitcoin’s market influenceAnother important factor highlighted by market observers is the performance of Bitcoin (BTC). Research from Bernstein, a leading global investment management firm, forecasts that BTC could reach $100,000 by the end of 2026. Should Bitcoin regain strong upward momentum, analysts anticipate a broader bull run across the cryptocurrency market, providing a favorable backdrop for assets such as XRP.
Bernstein projects that Bitcoin could hit $100,000 by the end of 2026, which may also benefit XRP and drive it toward the $2 mark amid renewed market optimism.
As market conditions evolve, investors continue to monitor key macroeconomic developments and sector-wide trends that could influence XRP’s trajectory in the coming months.
SlowMist: Official FOMO iOS App Exposed to Contain Crypto-Stealing Malware, Was Available on App Store for a Week
Blockchain security firm SlowMist has warned that the official FOMO iOS app was found to contain malware capable of stealing cryptocurrency assets. The affected versions of the app were available on the App Store between September 9 and September 17. SlowMist stated that the malicious module has attack capabilities similar to the DarkSword malware, which could result in the theft of users’ seed phrases and private keys. Given that the FOMO app was promoted via crypto KOLs, some users may have downloaded the affected versions. SlowMist also cautioned that simply updating or deleting the FOMO app may not be sufficient to eliminate the risk; users who used the affected versions should assume their seed phrases, private keys, and sensitive credentials have been compromised, and take corresponding security measures. Additionally, SlowMist’s Chief Information Security Officer Shan Zhang previously warned that iOS versions 13 through 16.5 may be vulnerable to malicious Safari link attacks exploiting memory corruption vulnerabilities in WebKit and JavaScriptCore. Attackers can leverage these flaws to gain read and write access to the JavaScript layer, further bypass pointer authentication, escape the WebContent sandbox, and escalate kernel privileges, ultimately obtaining encryption keys and wallet data.
4 minutes ago
The yield on 2-year U.S. Treasuries rose to 4.79%, hitting a new high for the year.
U.S. Treasury yields extend their upward trend, with the 2-year U.S. Treasury yield rising to 4.79%, hitting a new high for the year. (Jinshi)
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Polygon's stablecoin miMATIC remains depegged, trading at a 14% discount to its $1 peg.
According to Blockaid’s monitoring, the stablecoin miMATIC from QiDao Protocol on Polygon remains depegged, currently trading at approximately $0.86, about 14% lower than its $1 peg. Blockaid noted that the depegging situation has continued as of press time.
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Spot silver plunged 3% intraday, currently trading at $65.01.
According to Bitget market data, spot silver has dropped 3% intraday, currently priced at $65.01 per ounce.
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Binance Wallet launches a 0 gas fee campaign for TRON network transfers, running until December 22.
Binance Wallet announced in a statement that from September 23 to December 22, 2026, users transferring USDT and other TRC-20 tokens via Binance Wallet to the TRON network will be eligible for a 0 gas fee promotion. The campaign is backed by TRON DAO, and after its conclusion, transfer fees will be reduced to 1 USDT per transaction.
Bitcoin and Ethereum options carrying roughly $18.1 billion in notional value have moved toward their Sept. 25 quarterly expiry with calls outweighing puts across both markets, according to Coinbase Markets.
Summary
Bitcoin and Ethereum options worth roughly $18.1 billion are scheduled to expire and settle Friday. Bitcoin options carry a 0.66 put-call ratio, while recent trading volume shows 0.37, Coinbase reports. Ethereum options show 0.61 open-interest put-call ratio, with recent trading volume at 0.55, Coinbase says. Bitcoin call open interest clusters near $90,000 and $100,000 strikes ahead of Friday’s quarterly settlement. Ether call interest is concentrated between $3,000 and $4,000 as September contracts approach expiration Friday. Coinbase Markets said Bitcoin’s open-interest put/call ratio stood at 0.66, while its 24-hour volume ratio was lower at 0.37. Ether showed an open-interest ratio of 0.61 and a 24-hour volume ratio of 0.55. Coinbase described both books as call-heavy, with recent trading even more tilted toward calls, particularly for Bitcoin.
A separate Deribit-sourced snapshot taken at 03:53 UTC on Sept. 23 showed $16.13 billion of Bitcoin inverse-option open interest scheduled for Friday and $2.16 billion in Ether, putting the combined figure near $18.29 billion. Differences from Coinbase’s $18.1 billion reading can arise as prices and positions change between snapshots.
ethereum:native :
OI put/call: 0.61
24h volume put/call: 0.55
Both books are already call heavy, but recent flow is even more skewed toward calls, particularly in BTC.
BTC… pic.twitter.com/eFQe6wPbaW
— Coinbase Markets 🛡️ (@CoinbaseMarkets) September 23, 2026 Bitcoin options put $90,000 and $100,000 strikes in focus Bitcoin accounts for most of Friday’s expiry. Deribit-sourced data showed $9.61 billion in BTC call open interest against $6.52 billion in puts for Sept. 25, producing a 0.68 put/call ratio at the later snapshot.
Coinbase identified $90,000 and $100,000 as two areas where Bitcoin call open interest is concentrated. With BTC trading near $86,500 early Wednesday, the $90,000 strike sat roughly 4% above spot while $100,000 remained nearly 16% higher. Market data showed Bitcoin trading between roughly $86,149 and $86,791 during the Sept. 23 session.
The call concentration does not establish that Bitcoin will reach either strike before expiry. Open interest counts outstanding contracts but does not reveal whether each trader bought or sold the call, while many options positions form part of spreads, hedges or market-making strategies.
Put/call ratios below one show that calls outnumber puts under the selected measure. Coinbase’s 0.37 ratio for recent BTC options volume points to considerably more call than put trading, but volume by itself does not identify the ultimate directional exposure of all participants.
The market has nevertheless moved closer to the largest upside strikes since Coinbase’s previous quarterly-expiry update. Bitcoin surged from around $76,000 on Sept. 17 to above $86,000 this week, reaching an eight-month high above $87,000 on Sept. 21.
Bitcoin’s move toward $90,000 has been supported by renewed spot demand and short covering, although analysts said continued buying would be required to sustain the advance.
Ether options build toward $3,000 to $4,000 calls Ether’s Friday book is smaller in dollar terms but carries a similar call-heavy structure. Deribit-sourced data showed approximately $1.34 billion in ETH call open interest against $820.1 million in puts for Sept. 25, matching Coinbase’s reported 0.61 open-interest put/call ratio.
Coinbase said ETH call interest is spread through the $3,000-$4,000 range. Ether was trading close to $2,760 early Sept. 23, putting $3,000 approximately 8.7% above spot. The $4,000 strike remained around 45% higher. Market data showed ETH had traded between roughly $2,750 and $2,766 during Wednesday’s session after closing near $2,753 on Tuesday.
Ether has gained sharply since the middle of last week. The asset traded near $2,416 on Sept. 16 before moving through $2,600 and reaching an intraday high above $2,805 on Sept. 21.
Reuters reported that ETH had broken above a technical resistance level near $2,661.52, with its technical analysis identifying $3,050 as one potential upside level if momentum continued. The projection is a chart-based scenario and does not establish where ETH will trade into expiry.
Ethereum’s earlier breakout above the $2,550 area opened attention toward higher resistance levels after buyers defended support near $2,400.
Friday’s expiry has grown since Coinbase’s Sept. 15 snapshot Friday’s notional amount has increased since Coinbase Markets published its earlier Q3 positioning data.
On Sept. 15, Coinbase placed combined Bitcoin and Ethereum options open interest for the quarterly expiry at roughly $16.6 billion. Bitcoin accounted for approximately $14.73 billion, with Ether at $1.92 billion. At the time, BTC’s put/call ratio stood at 0.52 and ETH’s at 0.57.
Bitcoin accounted for nearly 89% of the $16.6 billion Q3 options expiry in that earlier snapshot. Coinbase then identified Bitcoin’s max-pain level near $72,000 and Ether’s around $2,200.
By Sept. 23, Coinbase’s combined figure had moved to roughly $18.1 billion while the reported put/call ratios had risen to 0.66 for Bitcoin and 0.61 for ETH. A higher put/call ratio means puts have increased relative to calls compared with the earlier snapshot, even though calls still dominate overall open interest.
The increase in notional value should not automatically be interpreted as an equivalent amount of new money entering the market. Notional open interest changes with the number of outstanding contracts and the value assigned to the underlying assets, while Bitcoin and Ether prices have risen sharply since Sept. 15.
PerpFinder’s Deribit-sourced methodology notes that USD open-interest figures represent contract quantities valued using forward prices. They do not measure option premiums paid, margin posted or the amount of cash that will change hands at settlement.
Bitcoin and Ether quarterly options settle at 08:00 UTC The Sept. 25 contracts form part of Deribit’s quarterly expiry cycle. Deribit states that quarterly BTC and ETH options expire on the last Friday of March, June, September and December at 08:00 UTC.
For Friday’s expiry, the settlement process uses the relevant Deribit index over the period immediately before expiration. PerpFinder’s methodology states that the delivery price is based on the appropriate index’s time-weighted average between 07:30 UTC and 08:00 UTC.
The size of the expiry can lead traders and market makers to adjust hedges as option deltas change when spot prices move closer to major strikes. The presence of large open interest at $90,000, $100,000, $3,000 or $4,000 does not require spot prices to move toward those levels.
Deribit reports that its platform handles roughly 85% of BTC and ETH options activity, making its quarterly expiries a large component of the crypto derivatives market. Its August statistics showed $56.13 billion in Bitcoin options turnover and $7.14 billion in Ether options turnover during the month.
Friday’s quarterly contracts are scheduled to expire at 08:00 UTC on Sept. 25. The final notional open interest, put/call ratios and strike concentrations can continue changing until traders close, roll or add positions before settlement.
Bitcoin climbed above $87,000 on Wednesday as traders reacted to President Donald Trump’s confirmation of a “very good meeting” with Iran’s officials on the sidelines of the UN General Assembly. Falling oil prices, spot Bitcoin ETF inflows, and derivatives interest are bolstering positive sentiment for a broader crypto market rally.
Trump Says Good Meeting Between US and Iran at UN General Assembly Trump said U.S. envoys Steve Witkoff and Jared Kushner held a three-hour meeting with Iranian representatives, including Foreign Minister Abbas Araghchi. He stated the meeting was “very good” and “very productive.” He even revealed that another round of talks is scheduled in the near future.
The president said there was “a lot of momentum” toward a deal and framed Iran’s choice as one between rebuilding or facing severe consequences. Iranian media reported that Iran re-presented conditions that included lifting the U.S. naval blockade, unfreezing assets, and ending the war on multiple fronts.
As CoinGape reported yesterday, Iran proposed reopening the Strait of Hormuz within 7 days if the US takes initial steps to ease tensions, including military operations. Iran’s President Masoud Pezeshkian is to attend the meeting today, with an address citing that the regime acted in self-defense.
Representatives of other countries, including EU European Commission Vice President Kaja Kallas and Switzerland Vice President Ignazio Cassis, talked with Abbas Araghchi about ending the US-Iran war and fully reopening the Strait of Hormuz.
Jordan's King Abdullah says the regional meeting with Trump was "very good," gives me a fingers crossed🤞on whether an Iran deal is possible pic.twitter.com/pFJErV5E43
— Elizabeth Hagedorn (@ElizHagedorn) September 22, 2026
Bitcoin Jumps Above $87,000 Today Markets treated the news as a de-escalation signal. Bitcoin rose another 1% to reclaim $87,000, extending the rally to almost 8% in a week. The broader crypto market, with Ethereum (ETH), XRP, Solana (SOL), and Zcash (ZEC), participated in the rebound.
The latest talks followed earlier upside momentum as Trump announced a proposed $5 billion Gulf reconstruction fund aimed at energy infrastructure damaged during the US-Iran war.
Oil prices also dropped further to $89 per barrel today, the sixth straight day, amid the UN General Assembly meetings. Saudi Arabia also plans to restore flows through its vital East-West pipeline.
Bitcoin is currently trading around $87,200 with an intraday high of $87,251. Trading volume has dropped 32% as traders await Fed officials’ speech for inflation cues.
Notably, Trump earlier said a final decision on a broader Iran deal could come after the November midterms, leaving markets focused on whether the latest talks produce concrete steps on the Strait of Hormuz and sanctions.
Derivatives markets revealed rising Bitcoin futures open interest, as per Coinglass data. BTC futures OI climbed more than 1% to $61.40 billion in 24 hours. The futures OI jumped more than 5% on CME and 6% on Hyperliquid, but dropped almost 2% on Binance.
As political situations shift rapidly, many macro traders rely on the best geopolitical prediction markets to place speculative bets on the final outcomes of these international negotiations.
SlowMist: Official FOMO iOS App Exposed to Contain Crypto-Stealing Malware, Was Available on App Store for a Week
Blockchain security firm SlowMist has warned that the official FOMO iOS app was found to contain malware capable of stealing cryptocurrency assets. The affected versions of the app were available on the App Store between September 9 and September 17. SlowMist stated that the malicious module has attack capabilities similar to the DarkSword malware, which could result in the theft of users’ seed phrases and private keys. Given that the FOMO app was promoted via crypto KOLs, some users may have downloaded the affected versions. SlowMist also cautioned that simply updating or deleting the FOMO app may not be sufficient to eliminate the risk; users who used the affected versions should assume their seed phrases, private keys, and sensitive credentials have been compromised, and take corresponding security measures. Additionally, SlowMist’s Chief Information Security Officer Shan Zhang previously warned that iOS versions 13 through 16.5 may be vulnerable to malicious Safari link attacks exploiting memory corruption vulnerabilities in WebKit and JavaScriptCore. Attackers can leverage these flaws to gain read and write access to the JavaScript layer, further bypass pointer authentication, escape the WebContent sandbox, and escalate kernel privileges, ultimately obtaining encryption keys and wallet data.
4 minutes ago
The yield on 2-year U.S. Treasuries rose to 4.79%, hitting a new high for the year.
U.S. Treasury yields extend their upward trend, with the 2-year U.S. Treasury yield rising to 4.79%, hitting a new high for the year. (Jinshi)
4 minutes ago
Polygon's stablecoin miMATIC remains depegged, trading at a 14% discount to its $1 peg.
According to Blockaid’s monitoring, the stablecoin miMATIC from QiDao Protocol on Polygon remains depegged, currently trading at approximately $0.86, about 14% lower than its $1 peg. Blockaid noted that the depegging situation has continued as of press time.
4 minutes ago
Spot silver plunged 3% intraday, currently trading at $65.01.
According to Bitget market data, spot silver has dropped 3% intraday, currently priced at $65.01 per ounce.
4 minutes ago
Binance Wallet launches a 0 gas fee campaign for TRON network transfers, running until December 22.
Binance Wallet announced in a statement that from September 23 to December 22, 2026, users transferring USDT and other TRC-20 tokens via Binance Wallet to the TRON network will be eligible for a 0 gas fee promotion. The campaign is backed by TRON DAO, and after its conclusion, transfer fees will be reduced to 1 USDT per transaction.
Leading cryptocurrencies ticked higher on Tuesday as investors digested President Donald Trump’s latest remarks on Iran peace negotiations.
Crypto Market StabilizesBitcoin faced resistance near the upper-$86,000 range after climbing above $87,000 the previous day. Ethereum oscillated in the $2,700 region, while XRP and Dogecoin held on to their gains.
Over $266 million was liquidated from the cryptocurrency market in the last 24 hours, as short positions suffered heavier losses than long bets, according to Coinglass data.
Bitcoin’s open interest rose 0.85% over the last 24 hours. Binance’s retail derivatives traders held a net short position on Bitcoin, while whales marginally increased their long exposure.
Market sentiment cooled from “Extreme Greed” to “Greed,” according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
The global cryptocurrency market cap today is $3.03 trillion, marking a 0.5% change in the last 24 hours.
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Nasdaq Rises to New RecordStocks delivered a mixed performance on Tuesday. The Dow Jones Industrial Average fell 185.14 points, or 0.36%, to end at 51,863.39. The S&P 500 closed near flat at 7,764.64. The tech-focused Nasdaq Composite rallied 0.5% to close at a new record of 27,244.27.
Investors remained on edge as Trump sent mixed signals on Iran. He told reporters that U.S. officials had a “very good” meeting with the Iranian delegation at the United Nations General Assembly.
During the UNGA address, Trump said he has a “big decision” to make, whether to make a deal with Iran or “annihilate” the country.
Bitcoin to Reclaim $100,000?Cryptocurrency analyst Ali Martinez identified Bitcoin’s “strong support” at $84,569, with additional support near $77,000, citing the Unspent Transaction Output Realized Price Distribution chart.
The indicator maps out the exact price levels where existing coin supplies last moved or were acquired on-chain.
“With support below, overhead resistance is thinning out,” Martinez added. “The next major URPD resistance sits near $104,765, where roughly 283,000 BTC were traded.”
Michaël van de Poppe, another widely followed cryptocurrency commentator, anticipated Bitcoin’s potential liquidity sweep to $84,000
“If the markets are giving me this opportunity, that’s where you’ll need to be getting interested in potential longs,” Van De Poppe added.
Dogecoin climbed above $0.10 for the first time in months, marking its strongest showing since early June. The well-known meme cryptocurrency gained about 2.5% over the past 24 hours, briefly touching $0.105 during its latest surge.
Market rally and meme coin sector gainsThe digital asset benefited from the broader market movement driven by Bitcoin’s approach toward the $86,000 threshold. This widespread advance delivered solid gains across major cryptocurrencies, with meme-based tokens drawing particular attention from traders and investors.
Dogecoin displayed relative strength against Bitcoin across several trading intervals. Other meme coins, including Pepe and Shiba Inu, also registered notable upward moves as the spotlight returned to the meme coin segment.
Derivatives growth and ETF inflowsTrading activity in Dogecoin derivatives markets surged, with volume increasing 72% to $5.42 billion. Open interest in these contracts rose by 5.65% to approximately $1.66 billion, suggesting market participants are actively building positions in anticipation of further price action.
On the options side, trading volume fell about 41%, but open interest still grew by 4.9%, indicating continued investor engagement. Meanwhile, spot Dogecoin exchange-traded funds in the United States collectively saw $909,650 in net inflows on September 21.
Grayscale’s GDOG product attracted $1.5 million, while 21Shares’ TDOG fund posted an outflow nearing $593,000. Total assets under management for these products stood at $15.14 million, and cumulative inflows since launch amounted to $13.29 million.
ETF ProductNet Inflow/OutflowAssets Under ManagementGrayscale GDOG+$1.5 millionIncluded in total21Shares TDOG−$593,000Included in totalTotal (All products)+$909,650$15.14 millionFurther market momentum was sparked after X, the social platform operated by Elon Musk, announced new integrations with Gemini, Kraken, Coinbase, Moomoo, and Interactive Brokers. These partnerships allow users to execute trades using cashtag functionality directly within the X platform.
Elon Musk, the founder of Tesla and owner of X, has previously commented favorably on Dogecoin, and his companies have explored accepting DOGE as a payment method. While the recent X integration does not constitute a direct Dogecoin initiative, it prompted renewed discussion among cryptocurrency traders and drove additional attention toward DOGE.
Mini dictionary: Cashtag functionality, a feature that allows users to type the dollar sign followed by a ticker symbol (e.g., $DOGE) to view real-time price data or execute trades through integrated brokerage partners directly on social media platforms such as X.
Technical analysis and notable price levelsOn the technical front, Dogecoin overcame resistance at $0.095 before setting new near-term targets around $0.105 and $0.11. The four-hour Relative Strength Index approached 70, reflecting robust momentum after the breakout, while the MACD indicator remained above its signal line, though recent histogram readings suggest momentum may be slowing.
On X, technical analyst BSC Gems Alert identified a developing higher-low pattern, which is emerging after an extended downward trend. The analysis cited $0.22 as the initial major resistance, with further potential targets at $0.34 and $0.47.
Dogecoin is forming a higher-low structure after a prolonged decline and is testing the upper boundary of its latest descending pattern. The critical levels to watch include $0.155 as a support zone and $0.22 as initial resistance. A breakout and successful retest beyond $0.22 could confirm the ongoing bullish structure.
The analyst highlighted $0.155 as an important support point in the broader timeframe. According to this perspective, a firm close above $0.22 followed by a positive retest might validate a bullish technical setup.
Despite the short-term rally, Dogecoin’s 50-day exponential moving average remains below its 200-day counterpart, indicating that the longer-term technical picture continues to lag behind recent price improvements.
Recent on-chain data confirmed DOGE trading near the $0.10 level, with rising open interest, notable ETF inflows, and increased trading platform engagement marking a period of renewed attention for the cryptocurrency.
Spot silver plunged 3% intraday, currently trading at $65.01.
According to Bitget market data, spot silver has dropped 3% intraday, currently priced at $65.01 per ounce.
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Nasdaq 100 futures hit intraday lows and are now down around 0.2%.
According to market data from BIT (Bit.com), Nasdaq 100 futures have hit their intraday low and are currently down approximately 0.2%.
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Binance Wallet launches a 0 gas fee campaign for TRON network transfers, running until December 22.
Binance Wallet announced in a statement that from September 23 to December 22, 2026, users transferring USDT and other TRC-20 tokens via Binance Wallet to the TRON network will be eligible for a 0 gas fee promotion. The campaign is backed by TRON DAO, and after its conclusion, transfer fees will be reduced to 1 USDT per transaction.
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Cua has simultaneously open-sourced two S1 models, and also invited Jev to join the same benchmark test.
Beating AI Express: Open-source computer-use infrastructure project Cua has open-sourced two S1 models specialized for computer use decision-making, and launched Cua-Bench-S1, a benchmark that evaluates models like Jev separately. This benchmark does not allow models to plan on their own. Each task provides the current interface and a set of pre-selected actions (e.g., "fill email", "check agree", "click submit", "skip"), with the model making only one selection per task. No re-screening of the interface or failure retries are permitted. This setup tests one core question purely: what is the next step? The two open-sourced models take different approaches: The Nano version has only ~855,000 trainable parameters, trained from scratch, and is specialized for scoring candidate actions. The 4B version uses Qwen3.5-4B as its base model, fine-tuned into the same "multiple-choice model" framework. The former prioritizes minimal size and speed, while the latter leverages the large model’s inherent comprehension for stronger generalization. Beyond common tasks like form filling, login, and search, the benchmark also includes security judgment, chess, Doom, and JevBench. The latter tasks are intentionally excluded from the models’ training data, to test their ability to make correct decisions outside familiar scenarios.
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Anthropic aims to bypass cloud providers by directly contracting a 1GW data center.
Insight Beating AI Express: The Information, citing people familiar with the matter, reports that Anthropic is in talks with Stream Data Centers to directly lease up to 1GW of data center computing capacity. The two sides are in early-stage negotiations, with no final size confirmed, and the deal could still fall through. If signed, Anthropic will become a direct data center tenant, deploying its own servers and chips—including Google and Broadcom’s TPUs, as well as NVIDIA GPUs. Google is also discussing providing credit guarantees for some of the projects. This differs from renting servers directly from AWS or Google Cloud: Anthropic will control its own chips, racks and network equipment, cutting out a layer of cloud provider markup, though it will bear the costs of equipment procurement and data center operations. Per estimates from data center developers interviewed by The Information, a full 1GW computing infrastructure would require at least $40 billion in capital investment. Anthropic has already directly leased around 401MW of data center capacity from TeraWulf this year, and last year announced a $50 billion investment in a custom data center in partnership with Fluidstack. If the Stream deal reaches 1GW, it will become one of Anthropic’s largest direct data center leases to date.
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Data: Funding rates indicate the market shows no immediate signs of overheating and remains neutral to bearish.
According to Coinglass data, Bitcoin has firmly broken through $86,000 and is now consolidating in a range. Altcoins and meme coins have also seen rotational trading activity, while the Crypto Fear & Greed Index has climbed above 70, entering the "Extreme Greed" territory for the first time in a year. However, current funding rates on major centralized (CEX) and decentralized exchanges (DEX) show no signs of market overheating. Funding rates for mainstream crypto asset contracts remain neutral to bearish; specific rates are detailed in the attached chart. BlockBeats Note: The funding rate is a mechanism set by cryptocurrency trading platforms to align contract prices with underlying asset prices, typically applied to perpetual contracts. It functions as a fund exchange between long and short traders—platforms do not collect this fee, and it adjusts the cost or return of holding contracts to keep contract prices closely tied to underlying assets. A 0.01% funding rate is the benchmark. When the rate exceeds 0.01%, it signals widespread bullish sentiment; when it falls below 0.005%, it indicates broad bearish sentiment.
Coinbase now offers fixed-rate USDC borrowing against bitcoin collateral via Morpho Midnight integration. Users receive predetermined interest rates and repayment schedules at loan origination. This offering complements Coinbase’s current variable-rate lending through Morpho Blue. The platform’s variable-rate lending portfolio has surpassed $1.4 billion in loans secured by approximately $3 billion in collateral. The service combines Coinbase’s user interface, Morpho’s protocol infrastructure, and Base network settlement. Coinbase has introduced fixed-rate loans backed by bitcoin, offering customers an alternative method to access USDC liquidity without liquidating their cryptocurrency holdings. Operating through Morpho Midnight, this service provides borrowers with transparent interest rates and repayment timelines established at loan inception.
This latest feature builds upon Coinbase’s current onchain lending infrastructure, which includes variable-rate borrowing through Morpho Blue. Customers now have the flexibility to select between fixed and variable loan structures based on their credit management preferences.
Morpho Midnight Powers New Fixed-Rate Lending Option Morpho introduced Midnight on the Base network in July, establishing a framework for fixed interest rates and predetermined maturity dates in decentralized lending. Traditional DeFi lending platforms have primarily operated with variable interest rates subject to market fluctuations.
According to Morpho, Coinbase represents the first major consumer-facing platform to integrate Midnight loans at this scale. While market makers also utilize the protocol, Tenor Labs had previously deployed a lending service leveraging Midnight technology.
An onchain order book mechanism determines interest rates through supply and demand dynamics. Coinbase has not revealed the exact rates currently accessible to its borrowing customers.
Borrowers can presently select maturity dates corresponding to either the current month’s end or the subsequent month’s conclusion. Coinbase designates the month’s final Friday as the official end date.
Customers must satisfy their USDC debt obligations prior to the maturity deadline. Failure to repay enables lenders to exercise claims against the bitcoin collateral securing the loan.
Coinbase’s Lending Portfolio Exceeds $1.4 Billion The platform’s existing variable-rate lending service has experienced rapid expansion. Coinbase reports that users maintain over $1.4 billion in active loans supported by approximately $3 billion in collateral assets.
These loans operate through Morpho Blue, the company’s established variable-rate lending infrastructure. According to Morpho, Blue currently facilitates roughly $5.2 billion in outstanding loans alongside approximately $16 billion in deposits across all platform integrations.
Morpho Midnight remains in earlier growth stages, with deposits totaling around $30 million as deployment continues. The Coinbase partnership could significantly expand adoption by connecting the protocol with an extensive retail user base.
The platform architecture divides responsibilities across different components. Coinbase oversees the customer-facing interface, Morpho supplies the lending technology, and Base handles transaction settlement.
Access Liquidity While Maintaining Bitcoin Exposure The primary advantage of this service enables users to obtain liquid capital while preserving their bitcoin market position. Rather than converting bitcoin into fiat currency or stablecoins, customers can leverage their holdings as collateral to borrow USDC.
Jacob Frantz, Coinbase’s yield and investments product lead, emphasized that fixed-rate borrowing provides users with enhanced control over credit management. The fixed structure may attract borrowers who value predictable financing costs over variable rate exposure.
Morpho envisions Midnight’s expansion beyond bitcoin-collateralized lending. The protocol’s future roadmap includes potential support for structured credit instruments and loans backed by tokenized real-world assets.
Additional integrations are in development, though Morpho has not disclosed specific partners or implementation schedules. Currently, Coinbase customers benefit from an expanded onchain borrowing menu as fixed-rate DeFi lending increasingly resembles traditional financial products.
Binance has acquired an ownership position in Circle through an equity investment, committing to broader USDC integration. The strategic alliance emphasizes growing USDC usage in developing economies worldwide. Through a private transaction, Binance purchased Class A shares of Circle at a 5% markdown from prevailing market rates. The crypto exchange has committed to a lock-up period of up to two years on the acquired shares. Both Circle and Coinbase stocks have appreciated over 7% in the last 30 days amid rising Bitcoin valuations. Binance has secured an equity stake in Circle, marking a significant deepening of their collaborative efforts surrounding USDC. The world’s largest cryptocurrency exchange will actively promote and integrate the stablecoin throughout its ecosystem, placing special emphasis on penetrating emerging market territories.
Binance invests $100M in @circle. Partnership extended 5 years.
A trusted digital dollar for more people, in more places.
This is a major commitment to regulated stablecoins – and on the infrastructure the next decade of finance gets built on.
Read more →… pic.twitter.com/lURAuKzkcx
— Binance (@binance) September 22, 2026
Circle has committed to delivering the technical backbone necessary for seamless USDC transactions and custody across Binance’s extensive service offerings. Jeremy Allaire, Circle’s Chief Executive Officer, expressed optimism that this collaboration could unlock onchain financial services for hundreds of millions of individuals and enterprises globally.
Strategic Share Acquisition by Binance The investment structure involved a private placement arrangement for Circle’s Class A common shares. Binance secured these shares at a discounted rate—5% below Circle’s trading price immediately prior to transaction completion.
Additionally, Binance accepted transfer restrictions that prevent share disposal for a maximum period of two years. This arrangement aligns Binance’s financial interests directly with Circle’s long-term success trajectory and USDC’s market expansion.
Clear Street analysts characterized this development as favorable for Circle, noting enhanced distribution capabilities and increased visibility among Binance’s massive user community. Industry estimates suggest Binance serves over 300 million registered users across the globe.
The research firm emphasized the strategic significance for emerging economies, where appetite for dollar-denominated digital products remains particularly robust. Enhanced USDC accessibility via Binance could streamline user access to USD-based cryptocurrency offerings.
Clear Street drew comparisons to Coinbase’s dual role as both USDC distributor and Circle stakeholder. The equity position provides Binance with meaningful motivation to champion broader stablecoin adoption across its platform.
Circle’s Strategy for USDC Market Penetration Circle’s business model relies fundamentally on USDC’s expansion and transaction volume. Increased stablecoin circulation can boost the reserve base supporting USDC and potentially enhance revenue generation from those underlying assets.
William Blair analysts reportedly view Bitcoin performance as an important near-term factor influencing Circle’s stock valuation. Their analysis suggests elevated Bitcoin prices can stimulate overall crypto market activity and subsequently drive USDC demand with some delay.
Consequently, Circle’s next significant stock appreciation may correlate closely with stablecoin market capitalization growth. Circle shares have already climbed more than 19% year-to-date in 2026 and over 7% during the previous month.
According to Koyfin data referenced in market reports, Wall Street analysts maintain an average 12-month price target of $104.28 for Circle. Among 29 analysts tracking the company, 14 assign Buy or stronger recommendations, 12 rate it Hold, and three maintain Sell or lower ratings.
Coinbase Diversifies Product Portfolio Coinbase continues advancing its comprehensive “Everything Exchange” vision by diversifying beyond traditional cryptocurrency trading. The platform recently unveiled a feature enabling qualified U.S. retail investors to request IPO share allocations directly within the Coinbase application.
This service debuts with smart-ring manufacturer Oura’s public offering this week. Coinbase indicated that additional IPO opportunities may become available as allocation access expands.
Market analysts have identified recent U.S. regulatory shifts as potentially beneficial for Coinbase’s business outlook. Notable developments include the SEC’s exemption framework for tokenized equity trading and anticipated regulatory clarification following the Senate’s decision not to advance the CLARITY Act.
Coinbase shares have decreased approximately 11% in 2026 thus far but have gained more than 7% over the past month. Koyfin data shows analysts project an average 12-month target price of $203.60, with 21 analysts maintaining Buy or stronger ratings among 35 total coverage analysts.
The new Binance-Circle partnership establishes an additional major distribution pathway for USDC, while Coinbase pursues growth opportunities beyond its core exchange operations. Both companies remain fundamentally connected to the overall expansion of digital assets, stablecoin ecosystems, and blockchain-based financial infrastructure.
In Russia, which continues to regulate Bitcoin and altcoins, new data released regarding the cryptocurrency market reveals that the use of digital assets in the country has reached a significant level.
The latest statement on this matter came from Russian Deputy Finance Minister Ivan Chebeskov.
Crypto Assets in Russia Reach $44 Billion! Speaking to the Russian local news agency TASS, Ivan Chebeskov shared current estimates regarding the size of the cryptocurrency market in the country. According to Chebeskov, approximately 20 million people in Russia use cryptocurrencies, and citizens’ total investments in digital assets and related financial products amount to 3.7 trillion rubles, or approximately $44 billion.
Chebeskov stated that the daily cryptocurrency trading volume is approximately 50 billion rubles, adding that these estimates include not only direct cryptocurrency ownership but also certain financial products whose value is tied to digital assets.
Investors Will Bear the Risk of Stablecoin Freezing! Highlighting the magnitude of these figures, Chebeskov made an important statement regarding the liability for assets related to stablecoins exported abroad.
One of the key points that stood out in Chebeskov’s statements was the foreign-issued stablecoins such as USDT and USDC.
It was stated that if a foreign issuer freezes an investor’s assets for a reason beyond the control of the Russian digital asset custody institution, the resulting losses will not be automatically covered by the Russian institution.
He said that Russian investors should not expect compensation if foreign cryptocurrency issuers freeze their assets. In this case, the loss will be considered at the investor’s risk.
Tax Declaration for International Crypto Transactions! Chebeskov also announced that Russian taxpayers will be required to report certain transactions they conduct outside the country’s regulated crypto infrastructure to the Federal Tax Service. The regulation aims to bring crypto transactions in Russia under closer scrutiny by tax authorities.
*This is not investment advice.
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Bitcoin‘s Lightning Network has taken a major step toward futureproofing its security, as researchers at East Texas A&M University introduced a new quantum-resistant protocol known as Post-Quantum Lightning Network (PQLN). This development directly addresses long-standing concerns that advances in quantum computing could compromise the cryptographic foundations of cryptocurrencies, including Bitcoin (BTC).
Quantum-Resistant Solution DebutsEarlier this year, Google released a research paper emphasizing the potential risks quantum computers pose to blockchain-based assets. In response, the PQLN protocol now provides a solution that can operate alongside existing Lightning nodes without requiring any modification to Bitcoin’s base code. Researchers at East Texas A&M described PQLN as a major leap forward that helps insulate Lightning Network payments from possible future quantum attacks.
Ethereum and Solana have already begun preparations to integrate post-quantum cryptography, while Bitcoin lagged behind in this area until the unveiling of PQLN. The implementation of quantum-resistant tools is widely regarded as essential in protecting digital assets from adversaries who may record transactions now and decrypt them later once quantum computers become powerful enough.
Researchers at East Texas A&M University introduced PQLN, aiming to stop attackers from recording Lightning payments today and decrypting them when quantum computing technology matures. The protocol runs in parallel with current operations and does not affect the underlying Bitcoin software.
The solution arrives amid broader industry efforts to secure digital assets. Post-quantum cryptography is becoming a key consideration across layer-1 and layer-2 blockchain projects, prompted by rapid innovation in quantum hardware research.
Market Reaction and Memecoin InsightsBillionaire investor Kevin O’Leary recently remarked that quantum security remains a critical hurdle for Bitcoin. He indicated that widespread adoption of such protection could be pivotal for BTC’s path toward a price target of $1 million per coin. O’Leary’s comments have revived market discussion around Bitcoin’s long-term growth potential, particularly if new defenses like PQLN demonstrate their effectiveness at scale.
The deployment of new security measures comes at a pivotal moment for BTC. Recent CoinGecko data show Bitcoin’s price has climbed 15% over the last week and 13% in the past month. The asset faces key resistance at $87,000 as optimism grows following supportive macroeconomic developments, including easing oil prices after Iran’s offer to open the Strait of Hormuz if certain conditions are met.
Such technical milestones could spur further engagement among both retail and institutional investors, though short-term risks persist. Elevated inflation, high interest rates, and cautious investor sentiment add volatility to the current rally, raising the possibility of a near-term retracement after recent gains.
Analysts acknowledge that while Bitcoin is exhibiting notable price recovery, high inflation and risk aversion may limit short-term upside. The possibility of corrections remains as macroeconomic uncertainties continue to weigh on investor confidence.
Alongside these technical shifts, timing and investor behavior also shape market dynamics, particularly in emerging sectors like meme tokens. In this segment, online trends can rapidly convert into significant trading volumes within just days. Recent data provided by Fomo App spotlights a memorable trade in “Niu Lai,” where a $99 investment surged to roughly $370,000. Tracking not only individual token prices, but also investor timing and asset selection, has become crucial for participants. Fomo App combines token discovery and trading on one platform, offering social feeds, investor rankings, and real-time trade notifications for those seeking insights in the meme coin space.
While Bitcoin’s quantum-proof advances and current price momentum spark excitement, market participants are encouraged to stay vigilant and monitor influential trends, both in technology upgrades and investor-driven projects that continue to shape the broader digital asset landscape.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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Bitcoin is trading at $86,767.30, up 1.1% over 24 hours and 14.6% over the past week, following a rally that pushed it to $87,000, its highest level in eight months. Over $1 billion in positions were liquidated in a single 24-hour stretch on the way there.
Every Bearish Catalyst Fired At Once
Three things happened this month that were each expected to break the rally. The CLARITY Act, crypto’s one shot at federal market structure rules, failed on the Senate floor 49-50, ten votes short of the 60 needed, after two years of lobbying. Coinbase stock fell about 8% that day, Circle fell roughly 10%.
The next day, the Federal Reserve delivered a unanimous 25 basis point rate hike under new chair Kevin Walsh, its first hike since 2023, as the 10-year Treasury yield sat above 5% and the Bank of Japan raised rates to a 31-year high in the same window.
On top of that, the AI trade started cracking too, after Anthropic’s Dario Amodei published an essay warning the industry was outpacing its own safety work, quickly echoed publicly by Sam Altman and Elon Musk. The semiconductor index dropped over 5% by the following Monday, its worst session since July, with Nvidia, ASML, and SoftBank all falling sharply.
Put together, regulatory failure, tightening liquidity, and a wobbling risk trade, this was exactly the setup bears had been waiting for. Bitcoin went to $87,000 anyway.
Liquidation Cascade Tells The Real Story
Roughly $1 billion in crypto positions were wiped out, and $843 million of that, 84% of the total, came from short positions. Between 126,000 and 135,000 accounts were closed during the sharpest hour of the breakout, with single-hour liquidations crossing $300 million, 97% of it shorts.
The mechanics explain why the move fed on itself. Leveraged short positions require only a small adverse price move to get force-closed, and each forced closure means the exchange buys to close the position, pushing price up slightly and triggering the next layer of shorts above it. One wallet reportedly got liquidated four separate times within 14 hours, losing 375 BTC, roughly $32.5 million, doubling down on shorts as price kept climbing against it.
Why None Of The Bad News Actually Stuck
A failed Senate bill changes what politicians agreed to write down, nothing else. It doesn’t affect block production, exchange trading, custody, or peer-to-peer transfers. Crypto grew into a trillion-dollar asset class without US regulatory clarity in the first place.
Institutional buying barely paused either. Between September 14 and 20, right through the worst headlines, Strategy disclosed buying another 950 BTC for $75 million. US spot Bitcoin ETFs did bleed about $450 million on the day of the failed vote, the heaviest single-day redemption since June, but just three sessions later they pulled in $433 million. Morgan Stanley’s Bitcoin ETF has now logged 20 consecutive trading days of net inflows without a single down day.
Total futures open interest didn’t collapse after the rate hike either, it actually rose 7.5% to roughly $156 billion, suggesting this move reflects genuine demand rather than just short-covering mechanics alone.
A Pattern That Isn’t New
Bitcoin has historically rallied hardest during moments that looked the worst. China’s 2021 mining ban knocked out more than half the global hash rate, and Bitcoin still ran from $29,000 to a new all-time high within four months. FTX’s collapse in November 2022 marked the cycle’s absolute bottom. Three US bank failures and USDC briefly losing its peg in March 2023 preceded a roughly 40% Bitcoin rally.
The reverse has held too. Coinbase’s NASDAQ listing in April 2021, arguably crypto’s most triumphant headline ever, marked almost the exact top of that cycle’s leg. Spot ETF approval in January 2024, after years of trying, was followed by Bitcoin falling from $49,000 toward $38,000.
Story Ends Here
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Economist Peter Schiff linked Bitcoin’s (CRYPTO: BTC) latest spike to Strategy Inc.’s (NASDAQ: MSTR) acquisition and Michael Saylor’s “self-serving” commentary.
Schiff Weighs in on BTC RallyBitcoin reached an intraday high of $87,363 on Monday, its highest since late January, and is up nearly 18% over the week.
Schiff attributed the rally to Strategy’s purchase of 950 BTC for $75.7 million, which ended a nearly month-long buying pause.
Schiff described Saylor’s remarks that the CLARITY Act’s failure marked a positive turning point for Bitcoin as "self-serving," which ended up being another catalyst for the rally.
“I’m sure he’d [Michael Saylor] have said the same thing had the Act been passed into law,” the longtime Bitcoin critic took a dig.
Schiff also slammed the company’s decision to sell Bitcoin at lower prices and later acquire it at higher prices.
“It won’t be long before he’s selling at lower prices again,” the economist predicted.
Strategy didn’t return Benzinga’s request for comment.
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Strategy’s Impressive ReboundStrategy has flipped from a $10 billion unrealized loss to $8 billion unrealized profit in recent weeks, aided by Bitcoin’s rapid climb. MSTR was also the Nasdaq-100’s top performer over the past month, surging 48%.
As of this writing, Strategy holds 845,050 BTC, worth $73.34 billion, making it the world’s largest corporate buyer of the apex cryptocurrency.
Strategy CEO Phong Le previously defended the firm’s practice of selling Bitcoin low and buying it high, adding that the company does not base its decisions specifically on the price of Bitcoin.
Price Action: As of this writing, BTC is up 0.80% in the last 24 hours to $86,475, according to Benzinga Pro.
Strategy shares rose 0.37% in after-hours trading. The stock closed 0.69% lower at $167.33 during Tuesday’s regular trading session.
According to Benzinga’s Edge Stock Rankings, MSTR displays a stronger price trend in the short and medium term, but trails over the long term.
CryptoQuant CEO Ki Young Ju said that Bitcoin (BTC) might appreciate by 3 to 5 times its value in the current bull cycle, rather than rising more than 10 times as in previous periods. Ki Young Ju also stated that any future bear market might be milder compared to previous periods.
Ki, in a post on X, stated that the growth of the Bitcoin market and the increasing share of institutional investors in the market have had an impact on volatility. According to the analyst, in the past, when Bitcoin had a smaller market capitalization and was largely reliant on individual investors, the market was more vulnerable to short-term speculative capital.
Ki stated that due to this structure, Bitcoin can experience sharp drops of up to 80% following strong bull market increases, but added that as the market matures over time, volatility in both upward and downward directions decreases.
Ki Young Ju stated that the maturation of the market could reduce the likelihood of a repeat of the extremely rapid price increases seen in past cycles, but also lower the risk of a sharp crash. He argued that this shift could make Bitcoin a more suitable asset for long-term capital rather than short-term investments.
The CEO of CryptoQuant also stated that if Bitcoin were to become a stable asset in the long term and gain sufficiently widespread use as a real currency, it could significantly change the global financial system. He added that the effects of such a transformation could go far beyond what is predicted today.
*This is not investment advice.
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Quantum computers can’t break Bitcoin today. But a team at East Texas A&M University isn’t waiting around to find out what happens when they can.
Researchers from the university’s RELLIS Campus published PQLN, short for Post-Quantum Lightning Network, on September 12, 2026. It’s the first working implementation that bolts quantum-resistant cryptography onto Bitcoin’s primary layer-2 scaling network, and the full codebase, nearly 11,000 lines added to a fork of rust-lightning, is already live on GitHub.
What PQLN actually does The Lightning Network lets Bitcoin users transact off-chain, meaning they can send payments back and forth without waiting for every single one to settle on the base blockchain. That speed comes with a tradeoff: Lightning relies on the same elliptic curve cryptography (specifically secp256k1) that secures Bitcoin itself. If a sufficiently powerful quantum computer ever cracks that math, both layers would be exposed.
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PQLN doesn’t rip out the existing cryptography. Instead, it layers lattice-based algorithms on top of it. The two lattice-based tools in the kit are ML-DSA for digital signatures and ML-KEM for key exchange. Both are drawn from the family of algorithms that the US National Institute of Standards and Technology has been standardizing for exactly this scenario.
The implementation covers five critical areas of Lightning operations: gossip (how nodes share network information), peer transport, invoices, payment onions (the routing privacy layer), and offers through the BOLT specification framework. Co-author Ahmet Kurt and his colleagues designed the system so that upgraded nodes can still communicate with legacy nodes.
Performance: surprisingly not terrible PQLN’s benchmarks suggest the damage is manageable. The added cryptographic operations clock in at 0.33 milliseconds or less per operation.
The bandwidth story is more nuanced. Gossip downloads balloon by roughly 10x under PQLN’s default ML-DSA settings. But the researchers tested an alternative signature scheme called Falcon that compresses the overhead to about 4x.
Interoperability testing covered all 12 possible mixed-node scenarios, pairing upgraded and legacy nodes in every combination. The result: zero stuck payments across every configuration.
What it doesn’t protect There’s an important caveat baked into the design. PQLN secures the communication and routing layers of Lightning, but it does not protect actual channel funds or any on-chain Bitcoin elements. The reason is straightforward: changing how Bitcoin’s base layer handles cryptography requires a consensus upgrade, meaning the entire network of miners and node operators would need to agree on new rules.
Why the timing matters Discussions about PQLN appeared on Delving Bitcoin and BitcoinTalk within days of the arXiv publication. The open-source release, complete with a modified sample node, lowers the barrier for other Lightning implementations to study and potentially adopt the approach.
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Strategy CEO Phong Le says the company underestimated how much borrowed money would flow into STRC, its $9.3 billion preferred stock that lost a quarter of its value this summer.
STRC pays a 12% annual dividend and is built to trade near its $100 face value. It sank to about $75 in late June and now trades at $99.
Strategy’s STRC Preferred Stock Performance. Source: TradingViewHow Borrowed Money Sank STRC Below $100Le explained the selloff in an interview with Natalie Brunell. He said STRC’s calm price invited investors to borrow against their Bitcoin (BTC) at about 6% to collect STRC’s 12% yield.
When Bitcoin fell, those loans came under pressure. Holders had to post more Bitcoin or sell STRC, Le said, and that forced selling drove the price lower.
“We did not expect the amount of leverage that came into the system,” Le explained.
Le said traders later bought STRC between $75 and $90, and that he bought some himself.
Why Strategy Chose Buybacks Over a Higher DividendIn late June, Strategy set out a framework with a cash reserve, buyback authorizations, and a plan to sell Bitcoin when needed. It began repurchasing STRC in late July.
Le said earlier dividend increases toward 12% did not lift the price. A higher payout would also drain cash and weigh on common shareholders, he said. Buybacks shrink future dividend bills instead.
Strategy’s dollar reserve now holds about $5.1 billion, which Le said covers roughly three years of dividends. That money can only pay preferred dividends and interest on Strategy’s convertible debt.
Strategy funds the latest STRC buybacks through sales of its common stock (MSTR) and, potentially, Bitcoin. Le said 95% of his pay is tied to MSTR’s share price and urged holders to think in three-year periods.
Le said institutions now own about 30% of STRC, up from 20%. He expects the stock to return to $100 as long-term holders replace leveraged traders.
$STRC is a passenger jet. $BTC is a fighter jet. $MSTR is a rocket ship. Buckle up,” Le said in a recent post.
STRC’s next dividend goes to holders of record on September 30, with payment due October 15, according to Strategy.
A series of movements from long-inactive Bitcoin wallets has drawn attention in the crypto industry, with four ancient wallets transferring a combined 1,971.03 BTC, valued at approximately $161 million, over the past two weeks. Galaxy Research reported that these dormant wallets, which had remained inactive for years, suddenly became active again, extending a notable trend in 2026 on-chain behavior.
Major dormant wallets spring to lifeGalaxy Research identified that the largest transfer originated from a wallet holding 1,260.78 BTC, currently worth about $100.63 million. This stash had been untouched since July 2016, meaning it has appreciated roughly 12,122% from an estimated entry price of $652 per Bitcoin.
The oldest wallet involved, dormant since March 2011, contained 10.25 BTC, now valued at around $792,000. This position saw a gain of over 8.38 million percent based on an average acquisition price close to $1 per Bitcoin.
A similarly aged wallet, inactive since November 2011, transferred 100 BTC priced at about $8.09 million, marking an approximate increase of 2.49 million percent.
The most recent transfer took place early Tuesday, when a wallet holding 600 BTC, worth around $51.9 million, moved coins that had been dormant since July 2012. This wallet had not been accessed for 14.2 years, achieving an estimated gain of more than 1 million percent.
Legal developments and market activityThree of the four wallets featured a “Noah Doe” sender tag. This designation refers to a New York lawsuit that seeks to classify thousands of long-unused Bitcoin addresses as abandoned property. Wallets associated with this case have become increasingly active, particularly after a judge paused the lawsuit in June.
The recent awakenings follow an earlier wave in 2026, where six wallets moved approximately $40 million within a 10-day period. Galaxy Research charts show that the oldest coins—those untouched for 10 years or longer—are starting to see movement at a pace that is rare in the network’s history.
Such activity attracts scrutiny, as few holders from Bitcoin’s earliest years are thought to still possess their private keys, making each wallet awakening a potential indicator of long-dormant supply reentering circulation.
Despite the growing volume of revived addresses, blockchain data does not clarify the owners’ intentions, whether they are selling, consolidating, or moving assets into different forms of custody. Notably, the recipient address for the latest 600 BTC transfer remains unidentified on the blockchain.
Market context and parallel trendsWhile the market closely watches the movement of old Bitcoin wallets for signs of renewed selling pressure or supply changes, consecutive on-chain awakenings are also shaping expectations among professional traders and blockchain analysts.
Turning to other corners of the digital asset market, monitoring technical signals and investor behavior remains essential for traders seeking to capitalize on rapid trends. In the meme token sector, internet-driven activity can shift market dynamics dramatically in a matter of days.
In the meme token market, an internet trend can transform into millions of dollars of interest within days. According to data shared by Fomo App, a trade involving “Niu Lai”—which turned an initial $99 investment into approximately $370,000, stands out as a striking example of this activity. In this market, tracking not only prices but also the timing and token choices of investors is crucial. Fomo App brings token discovery and trading together on a single platform, featuring social feeds, investor rankings, and trade notifications. Discover Fomo App to follow the world of meme tokens alongside investor activity.
Bitcoin's global derivatives open interest exceeds $61.2 billion, with short positions still dominating.
According to Coinglass data, the total open interest of Bitcoin contracts across the network currently stands at $61.258 billion, with a 24-hour aggregated long-short ratio of 0.972. Open interest and trading volumes on major exchanges are as follows: Binance holds $9.233 billion in Bitcoin contracts, with a 24-hour trading volume of $13.792 billion and a 24-hour long-short ratio of 0.9099; Hyperliquid has $4.044 billion in Bitcoin contracts, with a 24-hour trading volume of $2.667 billion and a 24-hour long-short ratio of 0.994; Bybit holds $5.226 billion in Bitcoin contracts, with a 24-hour trading volume of $5.82 billion and a 24-hour long-short ratio of 0.9857; Bitget has $1.787 billion in Bitcoin contracts, with a 24-hour trading volume of $2.674 billion and a 24-hour long-short ratio of 0.9814.
4 minutes ago
A multi-signature address linked to WLD deposited 42.37 million WLD tokens to Binance, valued at approximately $19.59 million.
According to on-chain analyst Ai Yi (@ai_9684xtpa), over the past 8 hours, a multi-sig address linked to WLD has deposited 42.37 million WLD tokens into Binance, valued at roughly $19.59 million. This marks the address’s first deposit operation in five months, and its entire WLD holdings have been cleared following the transfer.
4 minutes ago
Mark Zuckerberg has followed the Twitter account of the Muse-themed meme coin, leading to a 30x surge in the token’s price in a short period.
Early this morning, Meta founder Mark Zuckerberg followed the account of Agrippa, a Muse-themed meme coin on the Robinhood Chain, on X, triggering a 30x surge in the token’s price. According to GMGN data, as of press time, Agrippa’s market cap stands at $6.52 million, with a 24-hour trading volume of $20.1 million. The meme coin draws inspiration from Zuckerberg naming his personal Muse AI agent Agrippa. The Agrippa meme coin was launched via bankrbot, uses the $MUSEBOOK token as its liquidity pool, and all transaction fees are directed to Zuckerberg’s account. Recently, Meta’s Muse project has gone viral, sparking hype for related concept coins in the crypto community. BlockBeats reminds users: Meme coin trading is highly volatile, largely driven by market sentiment and conceptual hype, with no inherent value or real-world use cases. Investors should exercise caution.
4 minutes ago
ZEC Breaks $1,600 as Trader Scores 15x Gain on 50x Long Position
ZEC breaks above $1,600, and a trader on @Aster_DEX is up over 15x on his $ZEC long! Trader 0xE34E opened a 50x long on 140 $ZEC ($224K) and is now sitting on a $70.7K unrealized profit — a 1,581% return.
4 minutes ago
ZEC breaks above $1,600, and a trader on @Aster_DEX is up over 15x on his $ZEC long!
ZEC breaks above $1,600, and a trader on @Aster_DEX is up over 15x on his $ZEC long! Trader 0xE34E opened a 50x long on 140 $ZEC ($224K) and is now sitting on a $70.7K unrealized profit — a 1,581% return.
Bitcoin spent much of September 2026 looking like a patient recovering too slowly. Prices drifted between the mid-$70,000s and low-$80,000s, and the $100,000 milestone that had animated so many year-end forecasts felt about as close as a mirage. Then, over a 48-hour window on September 21 and 22, the picture changed.
Bitcoin surged to $87,395, its highest print since January 2026, driven by a combination of institutional buying, short-seller pain, and a macro backdrop that, for once, cooperated.
The mechanics of a $87,000 rally The immediate catalyst was hard to miss. U.S. spot Bitcoin ETFs recorded net inflows of $998.95 million on September 21 alone, the largest single-day total for the year. BlackRock and Fidelity were among the institutional players funneling capital into the market, signaling that large money managers had not abandoned their Bitcoin thesis despite months of sideways drift.
When institutional buying hits a market that is heavily short, the result tends to be violent. Short liquidations over the 24-hour period surrounding the rally totaled roughly $648 million, as traders betting on further declines were forced to buy back positions at exactly the wrong moment. That mechanical covering amplified the move, pushing prices higher faster than the underlying demand alone would have.
The macro environment provided useful cover. Declining oil prices eased inflation concerns, and increased U.S. Treasury buybacks added liquidity to the system.
What analysts are saying about $100,000 Geoff Kendrick, an analyst at Standard Chartered, has maintained a $100,000 year-end target for Bitcoin, and his current read is that the target may actually be too conservative given present market dynamics and the pace of institutional demand.
Prediction markets have moved in the same direction. Kalshi, one of the more closely watched forecasting platforms, now reflects a meaningfully higher probability that Bitcoin crosses $100,000 before January 1, 2027.
The broader context matters here. Bitcoin fell from highs above $126,000 in October 2025, spent months grinding lower, and has now staged a recovery that has re-engaged institutional buyers who had been waiting for a cleaner entry.
The risks that haven’t disappeared The rally has not resolved the underlying uncertainties that suppressed Bitcoin through much of 2026. Macroeconomic conditions remain fluid. The same Treasury and oil market dynamics that helped lift Bitcoin this week could reverse, and the asset would feel that reversal quickly given its sensitivity to global risk appetite.
There is also the question of leverage. Short liquidations cleared out one class of speculative positioning, but markets have a tendency to rebuild leverage after a sharp move.
The ETF inflow number is encouraging but worth watching over subsequent sessions. A single-day record is meaningful. A sustained trend of institutional accumulation is transformative. The distinction between those two things will go a long way toward determining whether $87,000 becomes a launchpad or a ceiling.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Bitcoin's global derivatives open interest exceeds $61.2 billion, with short positions still dominating.
According to Coinglass data, the total open interest of Bitcoin contracts across the network currently stands at $61.258 billion, with a 24-hour aggregated long-short ratio of 0.972. Open interest and trading volumes on major exchanges are as follows: Binance holds $9.233 billion in Bitcoin contracts, with a 24-hour trading volume of $13.792 billion and a 24-hour long-short ratio of 0.9099; Hyperliquid has $4.044 billion in Bitcoin contracts, with a 24-hour trading volume of $2.667 billion and a 24-hour long-short ratio of 0.994; Bybit holds $5.226 billion in Bitcoin contracts, with a 24-hour trading volume of $5.82 billion and a 24-hour long-short ratio of 0.9857; Bitget has $1.787 billion in Bitcoin contracts, with a 24-hour trading volume of $2.674 billion and a 24-hour long-short ratio of 0.9814.
4 minutes ago
A multi-signature address linked to WLD deposited 42.37 million WLD tokens to Binance, valued at approximately $19.59 million.
According to on-chain analyst Ai Yi (@ai_9684xtpa), over the past 8 hours, a multi-sig address linked to WLD has deposited 42.37 million WLD tokens into Binance, valued at roughly $19.59 million. This marks the address’s first deposit operation in five months, and its entire WLD holdings have been cleared following the transfer.
4 minutes ago
Mark Zuckerberg has followed the Twitter account of the Muse-themed meme coin, leading to a 30x surge in the token’s price in a short period.
Early this morning, Meta founder Mark Zuckerberg followed the account of Agrippa, a Muse-themed meme coin on the Robinhood Chain, on X, triggering a 30x surge in the token’s price. According to GMGN data, as of press time, Agrippa’s market cap stands at $6.52 million, with a 24-hour trading volume of $20.1 million. The meme coin draws inspiration from Zuckerberg naming his personal Muse AI agent Agrippa. The Agrippa meme coin was launched via bankrbot, uses the $MUSEBOOK token as its liquidity pool, and all transaction fees are directed to Zuckerberg’s account. Recently, Meta’s Muse project has gone viral, sparking hype for related concept coins in the crypto community. BlockBeats reminds users: Meme coin trading is highly volatile, largely driven by market sentiment and conceptual hype, with no inherent value or real-world use cases. Investors should exercise caution.
4 minutes ago
ZEC Breaks $1,600 as Trader Scores 15x Gain on 50x Long Position
ZEC breaks above $1,600, and a trader on @Aster_DEX is up over 15x on his $ZEC long! Trader 0xE34E opened a 50x long on 140 $ZEC ($224K) and is now sitting on a $70.7K unrealized profit — a 1,581% return.
4 minutes ago
ZEC breaks above $1,600, and a trader on @Aster_DEX is up over 15x on his $ZEC long!
ZEC breaks above $1,600, and a trader on @Aster_DEX is up over 15x on his $ZEC long! Trader 0xE34E opened a 50x long on 140 $ZEC ($224K) and is now sitting on a $70.7K unrealized profit — a 1,581% return.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Neoclassic Capital co-founder Michael Bucella says Bitcoin (BTC) is climbing for reasons that have little to do with Washington, framing the rally instead as part of a broader move into gold, the Swiss franc, and Bitcoin as debasement hedges.
Speaking on CNBC’s Power Lunch, Bucella pointed to a US national debt that has climbed past $40 trillion, arguing investors increasingly treat scarce assets like gold and Bitcoin as insurance rather than bets tied to crypto legislation.
A Rally That Outlasted a Stalled BillThe Digital Asset Market Clarity Act, a bill meant to settle whether tokens are regulated as securities or commodities, failed to advance in the Senate this month.
The bill cleared the House in 2025 but has since stalled amid disputes over enforcement authority. Bitcoin and Ether (ETH) ETFs briefly bled hundreds of millions of dollars in the aftermath.
Bucella said that reaction proved short-lived. He pointed to a single day of roughly $1 billion in Bitcoin ETF inflows shortly after, arguing participation returns quickly once sentiment turns, regardless of what Congress does.
He added that Bitcoin is also becoming easier to borrow against as new lending products emerge onshore, reducing the need for holders to sell.
The Swiss TradeBucella described a conversation with two friends in Switzerland who argued that with $40 trillion in debt piling up, holding scarce, non-dollar assets made more sense than waiting on legislation.
“The franc is strong, gold is strong, Bitcoin is strong.”
Michael Bucella, CNBC
The comparison echoes a wider shift among investors who increasingly frame Bitcoin as a debasement hedge, positioning it alongside gold and hard currencies rather than as a bet on US policy outcomes.
Still, Bucella cautioned that Bitcoin remains a risk asset overall, meaning broader macro conditions will continue to shape its price alongside the debasement narrative.
Bucella’s framing suggests some investors are pricing Bitcoin against currency debasement risk rather than legislative timelines, a distinction that could matter more the longer Congress delays a Clarity Act vote.
BitMEX co-founder Arthur Hayes has come up with an argument that the AI debt problem is potentially bullish for Bitcoin [BTC], even though the underlying AI slowdown itself could be negative for technology companies.
In his latest essay titled “Safety First,” Hayes argues that slowing AI development could reduce demand for computing power, putting pressure on the huge debt financing AI data centers and infrastructure.
Is weaker AI cash flow actually bad news for crypto? Hence, he links this debt to private credit and insurance companies, warning that weaker AI cash flows could trigger credit downgrades and expose capital shortfalls in the insurance sector. Such a situation, according to Hayes, branches into two possible government responses.
First being that the US could become a “buyer of last resort” by guaranteeing demand for AI compute and supporting data-center investment, particularly if AI is viewed as strategically important in the competition with China.
Alternatively, if falling AI-related asset values create problems for insurers and other financial institutions, the government could intervene to prevent a broader financial crisis.
Yet, no matter the response, Hayes believes,
Either way, we as Bitcoin holders and crypto investors win.
Why it’s a win-win for Bitcoin? This is because both scenarios will involve greater government borrowing and monetary expansion.
More government spending and liquidity simply means an increase in the amount of money circulating in financial markets, potentially encouraging investors to move into assets such as Bitcoin and other cryptocurrencies.
Therefore, even though weaker AI demand could hurt technology companies, Hayes views the resulting government response as potentially positive for crypto.
The amount of dollars in the system will continue to grow, and Bitcoin and selected shitcoins will rise in in price.
At the same time, government support for AI infrastructure could create excess computing capacity, eventually making compute cheaper and encouraging greater AI adoption.
AI debt crisis on the rise This comes after reports showing that AI companies are already responsible for nearly 40% of new long-term investment-grade corporate debt, and their need for financing is expected to grow further.
Source: Apollo The estimate from Apollo suggests the AI sector could support more than $2 trillion in additional high-quality debt. However, public bond markets may only be able to absorb less than $1 trillion by 2030 due to concentration and rating limits.
Well, this isn’t the first time Hayes has shed light on this matter. Earlier in May 2026, too, Hayes argued that Bitcoin could eventually reach $126,000, driven by the global AI race between the US and China.
Final Summary US could become a “buyer of last resort” by guaranteeing demand for AI compute and supporting data-center investment. But even though weaker AI demand could hurt technology companies, it’ll be beneficial for Bitcoin and the overall crypto market.
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Strategy bought 950 bitcoin for roughly $75.7 million last week and paid for it from cash on hand rather than new stock sales, according to an 8-K filing dated Sept. 21. The company, formerly known as MicroStrategy, now holds 846,000 BTC, its highest reported total since June.
The filing covers purchases made between Sept. 14 and 20 at an average price of $79,670 per coin. Across all holdings, Strategy has spent about $63.8 billion, an average of $75,416 per bitcoin.
A change in how the buying is funded What marks this filing out is the funding. Strategy’s recent accumulation runs have typically been financed through at-the-market equity offerings, selling new shares to raise cash. This time the company said the purchases came from its USD Cash reserve, which stood at $1.05 billion as of Sept. 20. A second bucket, the USD Reserve, held $5.04 billion on the same date.
The same filing shows Strategy repurchased 1,771,238 shares of its STRC preferred stock for $174 million, and used $57.4 million of the USD Reserve to pay preferred dividends and interest on outstanding debt. It reported no bitcoin sales under its at-the-market offering during the week.
The shift matters because it suggests the company is no longer leaning on new share issuance to fund the treasury, after a stretch in which its preferred stock traded below par and reserve money went to servicing it. The filing discloses the buyback but not its rationale.
Mark-to-market figures from the week put the holdings at around $71.9 billion, implying roughly $8.1 billion in paper gains. Those numbers move with bitcoin’s price and should be read as a snapshot, not a balance.
846,000 BTC is more than 4% of bitcoin’s 21 million supply cap. The company’s reported peak was 847,363 BTC in June, before it sold 1,363 coins.
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Strive CEO Matt Cole says Bitcoin (BTC) could effectively go to infinity against the US dollar, arguing that a mounting Washington debt crisis, not Bitcoin’s own scarcity, is what will ultimately break the currency’s value.
Cole made the comments on Bloomberg Crypto, as digital assets have reclaimed $3 trillion in market value since January. Strive, a Bitcoin treasury company that raises capital to buy and hold BTC on its balance sheet, has been one of the more aggressive buyers through the cycle.
A Debt Crisis, Not a Bitcoin StoryCole argued that the 10-year Treasury yield would already sit north of 10% if the Federal Reserve and the Treasury Department stepped back from the bond market entirely.
He credits Treasury Secretary Scott Bessent with capping long-end rates for now, but says that intervention only delays a reckoning, since neither party in Washington shows any willingness to cut spending.
“We think Bitcoin can effectively go to infinity versus the dollar.”
— Matt Cole, on Bloomberg
That logic underpins Strive’s public forecast of a 50% compound annual growth rate for Bitcoin through 2030, a figure Cole calls conservative given the asset’s past bull-market cycles, a view he first laid out when he called the bear market over last month.
It also explains why Strive’s SATA preferred stock, which pays a daily cash dividend, has, according to Cole, outperformed Bitcoin itself by more than 100% in 2026 even as BTC has traded roughly flat.
Why the Treasury Model PersistsCole also pushed back on the idea that the Bitcoin treasury company model is fading. He argues it never broke, only that firms without a clear thesis or sound debt terms struggled once the bear market hit, while disciplined buyers kept accumulating even as Wall Street treasuries resumed buying.
Cole’s framing puts Bitcoin’s price action second to a wager on US fiscal dysfunction, one that only pays off if bond markets and the dollar move the way he expects over the next several years.
Useless Coin [USELESS] has recorded significant gains over the past 24 hours, beating the overall crypto market as its breakout has triggered a beta-led rally for the more speculative assets.
Market capitalization of the overall market has risen by 4.2% to $2.91 trillion, and the Fear & Greed index stands at 78. Bitcoin’s breakout has been the key catalyst here.
USELESS sits high among the top beneficiaries too. But can the network’s bulls hold the momentum going?
Source: CoinMarketCap Memecoin rotation adds momentum Capital is also rotating into memecoins, giving USELESS an additional catalyst for its recent gains. PEPE and other memecoins have shown good gains along with high trading volumes, indicating that buying activity has increased in the space.
Useless Coin may see further support if this trend continues.
Whales are taking advantage of the recent bullish push by bagging more orders. At press time, the total supply held by whales with more than $1 million worth of USELESS tokens stood at 57%.
Source: Santiment At the same time, USELESS’ Open Interest recorded an 11% daily surge to $70 million. This highlights an increased leveraged position with the network bulls at the helm as they control the largest share of the network’s total supply.
Source: Coinalyze Can USELESS reach $0.34? On the daily chart, Useless Coin continues to trade above its key moving averages while respecting the Fibonacci golden range between $0.23 and $0.25, keeping the broader technical structure constructive.
An eventual reversal out of present levels would improve the bounce and bring the $0.34 price target into focus again.
However, failure to defend its moving average support level or a reversal in overall market sentiment would detract from the technical setup, leading to further consolidation lower.
At the moment, Bitcoin’s strong advances, increasing market cap, and memecoin rotation continue to support the present rally.
Source: TradingView Final Summary USELESS gains as Bitcoin’s gain lifts the broader crypto market, which has climbed 4.2% to $2.91T. The memecoin rotation and strong risk appetite could support a move toward the $0.34 target while Useless holds above key moving averages.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
According to Coinglass data, the total open interest of Bitcoin contracts across the network currently stands at $61.258 billion, with a 24-hour aggregated long-short ratio of 0.972. Open interest and trading volumes on major exchanges are as follows: Binance holds $9.233 billion in Bitcoin contracts, with a 24-hour trading volume of $13.792 billion and a 24-hour long-short ratio of 0.9099; Hyperliquid has $4.044 billion in Bitcoin contracts, with a 24-hour trading volume of $2.667 billion and a 24-hour long-short ratio of 0.994; Bybit holds $5.226 billion in Bitcoin contracts, with a 24-hour trading volume of $5.82 billion and a 24-hour long-short ratio of 0.9857; Bitget has $1.787 billion in Bitcoin contracts, with a 24-hour trading volume of $2.674 billion and a 24-hour long-short ratio of 0.9814.
Crypto analyst Ali Martinez shared some notable technical levels following the recent strong price increases in Bitcoin (BTC) and XRP. According to Martinez, a break above $1.60 in XRP could open the door to a new upward movement, while for Bitcoin, $100,000 has once again become a significant target.
XRP gained 27.6% in value, rising from $1.25 to $1.58. Martinez noted that this move may have completed the right shoulder of a large-scale inverse head and shoulders pattern forming on the daily chart.
According to the analyst, the most critical level for XRP right now is $1.60. This area corresponds to the neckline of the formation. Martinez stated that if XRP makes a decisive breakout above $1.60, the formation could be confirmed, and in such a scenario, a further increase of approximately 30% could bring the $2 level into play.
In addition to the technical outlook for XRP, the actions of large investors are also attracting attention. According to data shared by Martinez, whales have recently accumulated more than $2 billion worth of XRP.
According to Martinez, Bitcoin is Back on the Agenda at $100,000. Martinez also believes the bullish outlook continues for Bitcoin. Bitcoin has risen more than 50% since its low of $57,749 seen on July 1st.
According to the analyst, one noteworthy point is that despite the sharp rise in prices, large investors are remaining active in the market instead of taking profits. In just the last day, the Bitcoin network recorded over 2,722 transactions worth more than $1 million.
On the institutional side, demand for spot Bitcoin ETFs is also a key factor supporting the rise. According to data shared by Martinez, US-based spot Bitcoin ETFs have accumulated over $1.60 billion worth of BTC in the last 72 hours.
One of the key support areas for Bitcoin is at $84,569. This area, where approximately 600,000 BTC have previously changed hands, is noted as a strong demand zone, while the second important support level is indicated at approximately $77,000.
In upward movements, on-chain cost breakdown data indicates a significant resistance level around $104,765. It’s noted that approximately 283,000 BTC have already changed hands at this level.
MVRV price bands present a similar picture. According to Martinez, the average MVRV band, around $100,670, is one of the next major resistances for Bitcoin. On the downside, the MVRV band around $74,361 stands out as a strong support zone.
*This is not investment advice.
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PANews, September 23 – According to SoSoValue data, the crypto market has risen for three consecutive days, with the NFT sector standing out, up 8.85% over 24 hours. Among them, Pudgy Penguins (PENGU) rose 13.68% and SuperVerse (SUPER) rose 10.14%. Bitcoin (BTC) rose 0.76% and Ethereum (ETH) rose 0.21%, holding above $86,000 and $2,700 respectively.
In other sectors, the PayFi sector rose 5.47% over 24 hours, with Zcash (ZEC) up 8.45%; the Layer2 sector rose 4.17%, with Celestia (TIA) up 15.23%; the DeFi sector rose 3.53%, with Uniswap (UNI) up 14.79%; the Meme sector rose 1.35%, with MarsCoin (MARSCOIN) up 32.27%; the Layer1 sector rose 1.12%, with Hedera (HBAR) up 8.78%; and the CeFi sector rose 0.12%, with NEXO up 2.30%.
In addition, the AI sector fell 0.44%, with Akedo (AKE), which had previously surged sharply, down 18.20%.
Dogecoin price rose 2.53% over 24 hours to $0.101 after briefly reclaiming the closely watched $0.10 level. The meme coin outpaced Bitcoin, which gained 0.45% during the same period. Momentum followed a Bitcoin-led market rally, while short liquidations added pressure to the advance.
The broader cryptocurrency market gained 0.55%, lifting its total value to $2.93 trillion. Trading volume reached $141.8 billion as Bitcoin price hovered near $85,981. Ethereum traded around $2,750, while XRP stood near $1.54. Bitcoin earlier touched $87,000 after breaking above May resistance around $82,814.
Dogecoin Open Interest Climbs to $1.66B as Trading Surges The Dogecoin derivatives market recorded stronger trading activity, while options demand moved in the opposite direction.
The volume of derivatives increased by 72% to 5.42 billion, as more people got engaged in the DOGE over the period.
Coinglass data The open interest also increased by 5.65% to 1.66 billion, meaning that traders were adding new positions and not closing existing contracts.
Nonetheless, the volume of options declined 40.77, indicating that the more generalized rise was accompanied by decreased demand in those contracts.
Options open interest increased 4.86% to $459,570, signalling that existing exposure continued expanding during the period.
Dogecoin ETF Inflows Near $1M as Grayscale Leads Demand The three US spot Dogecoin ETFs recorded $909,650 in combined net inflows on September 21. Grayscale’s GDOG led activity with $1.50 million, offsetting 21Shares’ TDOG outflow of $593,310. Bitwise’s BWOW reported no daily movement.
DOGE ETF Combined trading volume reached $2.31 million, while total net assets stood at $15.14 million. Total inflows increased to $13.29 million, with GDOG holding the largest asset base among the three funds.
Can Dogecoin Price Hold $0.095 Before Its Next Major Rally? DOGE price jumped to $0.09961 following its breach of the critical 0.095 resistance mark.
The four-hour formation is still bullish, with Dogecoin consolidating around the psychological level of $0.10. The breakout was supported by increased trading volume, with the market showing greater participation as the market advanced.
The Relative Strength Index, however, is 70.13, which is close to overbought. This reading indicates that momentum is high, but a short-lived pullback might be experienced.
The MACD line is above the signal line, and the positive histogram adds additional gains. Nevertheless, weakening histogram bars suggest the possibility that bullish momentum is decelerating.
DOGE/USDT 4-hour chart: TradingView A confirmed break above $0.10 could send the future Dogecoin outlook toward $0.105. Stronger buying pressure may then open a path toward $0.11.
Conversely, rejection near $0.10 could push the Dogecoin price back toward $0.095. Losing that support would expose the $0.09 region.
