Borrowing against digital assets increased sharply in 2026 as both retail and wealthy investors responded to weakening crypto market conditions, according to new research from CryptoQuant based on CoinRabbit data. The report highlights a substantial rise in crypto-backed loan activity across major user groups, along with notable changes in collateral preferences.
Crypto-backed loan volumes jump in 2026Retail borrowers averaged 53.5 loans per person in 2026, representing a 74% increase from 30.8 loans in 2025. High-net-worth users also ramped up borrowing, with average loans per borrower rising 18%, from 16.5 to 19.4.
This upward trend came as more crypto holders sought liquidity without selling their assets, using their portfolios as collateral. Lenders typically require borrowers to pledge more digital assets than the loan value, minimizing risk in the event of sharp market declines.
Repeat borrowing became increasingly common, with 65.1% of CoinRabbit users taking out multiple loans in 2026, up from 61.9% the previous year. The data also indicates retail borrowers waited longer between loans, averaging 21 days between transactions compared to 11 days previously.
Retail and high-net-worth investors sharply increased crypto-backed borrowing activity in 2026, with average loan frequency and repeat usage rising across the board.
The research did not single out a definitive cause for this growth but emphasized the clear spike in loan frequency and activity.
Shifting collateral choices: Zcash and XRP gain groundAlongside greater loan use, borrowers diversified their collateral portfolios. Bitcoin‘s share among wealthy users dropped from 57.8% to 30.5%, while Zcash surged to 24.2% after not appearing in the prior year’s top collateral assets. CryptoQuant linked this lead to Zcash’s substantial price rally, climbing from around $50 to nearly $800 over the period.
Other assets such as Monero, Chainlink, and Cardano also gained traction as preferred collateral among high-net-worth individuals. In the retail segment, XRP remained popular despite its collateral share slipping from 41.7% to 35.2%. Bitcoin remained a significant choice, while coins like TRON, Stellar, BNB, Kaspa, and Velo saw higher use as well.
The collateral shift coincided with changing trading patterns: Tether and Bitcoin held the largest trading volumes, while USD Coin climbed into third place. Flare, Ether, and Ondo entered the top 10. Meanwhile, Solana, Stellar, and Shiba Inu dropped out of the main list by volume.
BlackRock, Bitwise lower crypto ETF conversion thresholdsOn the institutional side, BlackRock moved to broaden access to its spot Bitcoin ETF, IBIT, by reducing the minimum in-kind Bitcoin conversion from $25 million to $1 million in July. Robbie Mitchnick, BlackRock’s head of digital assets, said the fund has now processed over $5 billion in Bitcoin conversions through this service, a significant increase from over $3 billion last October.
Mitchnick pointed out that “kidnappings, ransom demands, and custody failures” have contributed to strong interest in moving private Bitcoin holdings into a regulated fund structure through IBIT.
The weeklong in-kind conversion allows holders to transfer Bitcoin directly from private wallets into the ETF, preserving price exposure while mitigating some security risks. Bitwise also lowered its own minimum from $100 million to $3 million, enabling broader access for family offices and smaller institutions.
IBIT currently holds approximately 3.645% of all Bitcoin and reports net assets of $60.65 billion. The conversion service’s $5 billion total volume underscores the growing adoption of regulated ETF vehicles among high-net-worth investors.
Given the pace of change in the market, where a single Federal Reserve policy move or an unexpected altcoin listing can dramatically shift asset values, traders increasingly rely on integrated platforms. In this context, tools like CryptoAppsy help active investors consolidate real-time charts, price alerts, personalized news feeds, and key macroeconomic data in one place—streamlining decision-making without requiring an account registration.
Bitcoin (BTC) price tumbles below $80,000 on Monday amid improved odds of a rate hike with the robust US employment data. Institutional demand holds firm with crypto-focused Exchange Traded Funds (ETFs) recording nearly $1.25 billion in inflows last week. Jupiter (JUP) and Zcash (ZEC) extend gains over the last 24 hours, leading the broader crypto market rally.
Crypto ETFs record third consecutive week of over $1 billion in inflowsCoinGlass data shows that Bitcoin and Ethereum (ETH) ETFs recorded $986 million and $218 million in inflows last week, while the rest of the altcoin funds saw positive inflows, except for Dogecoin (DOGE), which saw $343,580 in outflows. Last week’s total inflows stood at $1.24 billion, recording the third consecutive weekly inflow of over $1 billion, indicating firm demand among large institutional investors.
Crypto net ETFs flow. Source: SoSoValueIn addition, Grayscale’s ZEC-focused trust-turned-ETF (ZCSH) recorded over $45 million in inflows over the last seven trading sessions, surpassing $430 million in Assets Under Management (AUM). Strong inflows into ZCSH reflect institutional demand diversifying toward private money.
Bitcoin faces sell wall above $80,000Bitcoin trades around $79,939, maintaining a broadly bullish bias. The King Crypto holds well above the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), clustered between $70,000 and $73,000, forming a firm support zone.
From a technical perspective, the May 6 high at $82,850 serves as the immediate resistance zone. A confirmed breakout above this level could target the 78.6% Fibonacci retracement level at $89,337, measured from $97,924 to $57,800.
The Relative Strength Index (RSI) is hovering near 66 on the daily chart, suggesting positive yet cooling momentum, while the Moving Average Convergence Divergence (MACD) is slipping below its signal line, hinting at waning upside pressure in the short term.
BTC/USDT daily price chart.On the downside, immediate support is seen at the 50% retracement near $77,862, followed by the 200-day EMA just above $72,768 and the 50-day and 100-day EMAs near $72,092 and $70,276, respectively, reinforcing a broader demand zone.
Jupiter and Zcash extend gainsJupiter trades around $0.2673, sustaining its 25% gains from the previous day's rally. The DeFi token maintains a bullish near-term bias as the price holds well above the 200-day EMA around $0.2114, with the 50-day EMA at $0.2076 and the 100-day EMA near $0.2018 forming a broader demand zone.
The RSI near 67 on the daily chart points to strong but cooling upside momentum, and the MACD is sloping upward above the signal line, suggesting that buyers still have the upper hand
Looking up, a confirmed breakout above the May 10 high at $0.2766 could extend the JUP rally toward the November 10 high at $0.3722.
JUP/USDT daily price chart.An extended correction in JUP could find support at the 200-day EMA at $0.2114, followed by the 50-day EMA at $0.2076 and the 100-day EMA near $0.2018.
Zcash edges lower by 3% at press time on Monday, after four consecutive days of rally, totaling to 46% gains last week. The privacy coin holds well above the 50-day, 100-day and 200-day EMAs clustered between $505 and $710, advancing into the price discovery mode.
The 20% gains made the previous day confirmed a breakout above the 127.2% Fibonacci extension level, measured from $368 to $888, at $1,128. This opens the path toward the 161.8% Fibonacci extension level at $1,529 as the next bullish target.
Momentum remains overheated, with the RSI hovering in overbought territory near 81 and the MACD maintaining positive readings, suggesting persistent but potentially stretched buying pressure in the near term.
ZEC/USDT daily price chart.On the downside, initial support is now seen around the reclaimed 127.2% Fibonacci extension level at $1,128, followed by the Fibonacci anchor at $888, with additional demand clustered near the 78.6% retracement at $735.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
The cryptocurrency market grew last week, but lesser-known, lower-cap tokens outperformed the blue-chip heavyweights.
The Table TopperArbitrum (CRYPTO: ARB), the native token of the Ethereum (CRYPTO: ETH) Layer 2 network, topped the charts, surging 108% in a week.
Robinhood Chain, built on Arbitrum’s technology, has seen a sudden surge in daily fees, with 10% of the fees flowing back to the Arbitrum ecosystem.
Robinhood launched its Layer-2 chain in July around tokenized stocks, but memecoins have become the dominant fee driver. Pons (PONS), a memecoin launchpad, has skyrocketed 2200% over the last month.
Privacy Coins Back in Demand?Dash (CRYPTO: DASH) bagged the second spot last week with returns of over 70% as cryptocurrency investors rotated into privacy tokens. The coin jumped to $78, its highest level in nearly 8 months.
Market heavyweights underperformed in comparison, with Bitcoin (CRYPTO: BTC), Ethereum and Solana (CRYPTO: SOL) gaining 2.80%, 3.80% and 3.50%, respectively.
Read Next
Crypto Rally ContinuesThe overall cryptocurrency market capitalization grew nearly 4% from $2.61 trillion to $2.71 trillion last week, carrying forward the momentum from August.
“Greed” sentiment prevailed in the market, according to CoinMarketCap’s Crypto Fear and Greed Index.
Read Next
Photo: Sebastian Duda on Shutterstock.com
Market News and Data brought to you by Benzinga APIs
US-listed Bitcoin (BTC) exchange-traded funds (ETFs) pulled in $986.9 million during the week ending September 4, according to SoSoValue data. Inflows into Ethereum (ETH), Solana (SOL), XRP (XRP), and Hyperliquid (HYPE) products fell between 73% and 96% that week.
Bitcoin funds lifted their weekly haul by 6.7%. The four other major product groups moved in the opposite direction after a strong showing the week before.
Altcoin Funds Give Back a Week of GainsThe week ending August 28 told the reverse story. Bitcoin ETFs took in $924.5 million that week, roughly half the $1.92 billion collected a week earlier.
Solana products jumped 443% to $153.9 million during that stretch. XRP funds climbed 178% to $110.5 million, and Hyperliquid funds reached $56.9 million.
Those gains vanished within five trading days. Solana ETFs took in $6.2 million, XRP funds took in $19 million, and Hyperliquid funds took in $12.3 million.
None of the five recorded a net outflow. The shift, therefore, points to slower buying rather than investors pulling capital out.
Trading activity cooled across the board, including in Bitcoin. Turnover in the Bitcoin funds dropped to $14.5 billion from nearly $19 billion, while Ethereum turnover fell to $4.1 billion.
Change in Weekly Spot ETF Net Inflows, Week Ending September 4 versus Week Ending August 28, 2026. Source: SoSoValue/BeInCryptoFollow us on X to get the latest news as it happens
Prices Refused to Follow the MoneySpot prices stayed narrow across all five assets. Bitcoin gained 2.58% over the five trading days to September 4.
Ethereum rose 1.09%. XRP added 3.02%, while Hyperliquid gained 5.76%.
Solana trailed the group with a 0.18% gain. Its fund assets slipped over the same stretch, to $1.41 billion from $1.43 billion.
Bitcoin opened Friday at its highest price since May 12. The move followed remarks from Federal Reserve Governor Christopher Waller about the coming inflation reading.
The August employment report then landed on the final day of the flow week. Payrolls rose 162,000 against a forecast near 53,000, and traders raised bets on a Fed hike this month.
That reading runs counter to the dovish signal that pulled money into Bitcoin funds on Thursday. The August inflation print, due September 11, will test how the flows hold up.
Subscribe to our YouTube channel to watch leaders and journalists provide expert insights
Ledger’s Chief Technology Officer has questioned the white hat label attached to the $320 million taken from Liquid Network.
He stopped short of calling it a theft. Liquid described the parties as purported white hat hackers, and Blockstream is trying to reach them on-chain.
Liquid Network Freezes Its Bridge as Self-Proclaimed White Hats Take 4,000 BTCFor context, Liquid is a Bitcoin (BTC) layer-2 network that operates as a separate blockchain. It uses a two-way peg to connect Bitcoin with its native Liquid Bitcoin (L-BTC) asset.
Users lock Bitcoin on the main network to receive an equivalent amount of L-BTC on Liquid. They can later redeem L-BTC for Bitcoin through the network’s peg-out process.
In an X post, the team stated that roughly 4,000 Bitcoin left the Liquid Federation wallet. Liquid said the transfer used the SideSwap Peg-out Authorization Key, which it insists was not compromised.
SideSwap explained that a customer sent 4,000 LBTC to its peg-out service at 14:05 UTC, and the federation paid out 3,996 BTC 23 minutes later. Blockstream has since traced that LBTC to a bug in the Elements software, according to the company.
The funds were consolidated into the Bitcoin address bc1ql4mfu6aundtkksxklfajs2h3t9nzcd6gyqjlte. It contained an on-chain message claiming the actors were white hats.
The message also asked Liquid to contact them on-chain. Galaxy Research estimated the funds represented about 95% of all Bitcoin pegged to Liquid.
Follow us on X to get the latest news as it happens
~4k BTC siphoned from Liquid Network, a Bitcoin sidechain. This was 95% of all BTC that had been pegged on Liquid.
Liquid has been halted since ~9am EST this morning.
The hacker(s) consolidated funds into a holding address with message “we are whitehats. contact us on chain” pic.twitter.com/K3cY0ca9YI
— Galaxy Research (@glxyresearch) September 6, 2026
In response, the network disabled bridge nodes, preventing new transactions from entering the chain.
Liquid also notified exchanges, which have paused or are preparing to pause L-BTC deposits and withdrawals. Other Liquid assets, including USDT, DePix, and real-world assets, remain unaffected by the incident.
“Liquid wallets will be impacted, and we’re sorry for any inconvenience. Federation members are actively working on resolving this so we can restore normal network activity,” the team said.
Ledger CTO Doubts the White Hat LabelCharles Guillemet, chief technology officer at Ledger, questioned that description. He compared the episode to the Ronin hack, in which attackers stole about $625 million after compromising validator keys. He also linked the invitation to talk to Euler.
4,000 BTC just pegged out of the Liquid bridge. The OP_RETURN says "we are whitehats. contact us on chain."
White hats don't drain a bridge and then solicit an "on-chain" contact. This echoes the Ronin hack, where attackers compromised validator keys to steal ~$625M, and the… pic.twitter.com/gPZmM13lXM
— Charles Guillemet (@P3b7_) September 6, 2026
Guillemet later softened his reading. The conduct does not look like usual white hat practice, he wrote, though criminal groups do not usually try to contact their victims either.
“There’s hope. This could be people with good intentions that intensively played with recent LLMs and are not used to responsible disclosures…,” the executive noted.
Where the Coins StandAs of press time, the coins have not left the address that received them. Public records show it still holds about 3,998 BTC, while the federation wallet retains roughly 197 BTC.
Early Monday, the same address signed another message. It asked whether sending most of the funds back to the federation wallet would be acceptable.
Whether Guillemet’s doubts hold depends on what the address does next, not on what it writes.
Subscribe to our YouTube channel to watch leaders and journalists provide expert insights
Longtime Bitcoin figure CobraBitcoin has sounded the alarm over a new security challenge facing the cryptocurrency industry as frontier artificial intelligence models become dramatically better at coding, vulnerability discovery and autonomous cyber operations.
The pseudonymous Bitcoin veteran says he is watching for the next major exploit after the arrival of increasingly capable models from OpenAI and Anthropic.
He has pointed to the fact that much of Bitcoin’s critical infrastructure is open-source and can therefore be analyzed at machine speed.
HOT Stories
His warning comes shortly after OpenAI released GPT-6 Astra and Anthropic rolled out Claude Fable 5.1, two models designed to perform substantially longer and more complicated software-engineering tasks than their predecessors.
Increasingly autonomous systems could scour Bitcoin Core, Lightning implementations, wallets, libraries and other infrastructure for ordinary software bugs that human reviewers have missed.
And there is now growing evidence that AI is becoming unusually effective at probing the latter.
Critical cyber threshold OpenAI says Astra is the first model it has broadly deployed to reach the “Critical” cybersecurity capability level under its Preparedness Framework.
According to the company, this means the model can, with the appropriate tools and access, discover previously unknown security flaws and develop new exploitation techniques against well-protected systems without requiring a human operator to direct every individual step.
Astra achieved a perfect 100% score on ExploitBench, a benchmark measuring whether models can turn known vulnerabilities into working exploits. Its predecessor, GPT-5.6 Sol, scored 78.5%.
On the more difficult ExploitGym benchmark, Astra reached a 42.4% exploit-development success rate .
Anthropic’s newly released Claude Fable 5.1 is specifically designed for long-running agentic coding and complicated work spanning large codebases.
AI warnings
The cryptocurrency industry has already received a demonstration of what AI-assisted vulnerability research can uncover.
On May 29, security researcher Taylor Hornby discovered a critical vulnerability in Zcash’s Orchard shielded pool.
The exploit could have allowed an attacker to create an unlimited quantity of counterfeit ZEC inside Orchard without detection.
Zcash developers launched an emergency coordinated responses
Following a major security scare involving COLDCARD wallets this summer, a group of Bitcoin developers and researchers organized what became known as the Bitcoin Red Team.
The team is AI systems alongside human review to scan large portions of the Bitcoin open-source ecosystem.
Berlin’s state government refused a 30 Bitcoin ransom, and the hackers behind the attack published 5.7 terabytes of stolen data on the dark web.
The Rhysida ransomware group had opened the auction at 30 BTC. Berlin let the deadline pass instead of paying.
Why the Bitcoin Ransom Demand FailedRhysida, a ransomware crew active since 2023, offered the files to the highest bidder. Bidding started at 30 BTC.
Bitcoin (BTC) trades near $79,902 per coin. Therefore, 30 coins come to roughly $2.4 million. Berlin’s Senate Chancellery put the demand at about two million euros.
BTC has added 0.46% today and 24.4% over the past month. That climb raised the dollar value of the demand while the ultimatum ran.
Bitcoin Price Chart. Source: BeInCryptoFlorian Hauer, the city’s chief digital officer, ruled out any payment.
“The State of Berlin will not give in to blackmail. The safety of the State of Berlin’s staff and the people of Berlin is our top priority.”
The Bitcoin ransom deadline ran out on Friday, September 4. Rhysida published the full dataset that afternoon.
Berlin’s refusal tracks a broader shift. On-chain ransomware payments fell about 8% in 2025, even as claimed attacks rose 50%.
Subscribe to our YouTube channel to watch leaders and journalists provide expert insights
Berlin Counts the Cost of a Dark Web AuctionThe attack surfaced on August 14. Berlin then cut two Senate departments from the state network. One covers urban development and housing; the other covers mobility, transport, and the environment.
Housing benefit payments and family support stalled until both departments returned on August 23. Officials have warned that residents’ personal data could be in the leak.
A central crisis unit now reviews the material Rhysida released once the Bitcoin ransom went unpaid. Forensic specialists comb through the files around the clock.
The State Criminal Police Office and Germany’s federal cybersecurity agency lead the investigation. Officials told residents to report fraud or identity theft to police.
Berliners elect a new state parliament on September 20, two weeks after the Bitcoin ransom expired.
Rhysida collected nothing. Berlin has not put a figure on the damage, and the review of the published files continues.
Bitcoin (BTC) spot exchange-traded funds (ETFs) are recording their largest daily inflow in nearly eight months.
Analyst TedPillows tells his 314,300 followers on X that the funds bought $730.87 million worth of Bitcoin on September 3rd.
He warns that on the two prior occasions when daily ETF inflows topped $700 million, Bitcoin formed a local top shortly afterward.
“The last two times, Bitcoin ETFs had a $700,000,000+ in daily inflow; BTC shortly formed a top. Yesterday, ETFs bought $730,870,000 in BTC, the largest inflow in almost eight months. Is the local top close for Bitcoin?”
Source: TedPillows/X On-chain analyst Alex Adler Jr. says Bitcoin ETFs account for a large share of the net flows over the last 30 days.
“Of the ~105K BTC equivalent net capital inflow over the past month, US spot ETFs contributed ~42.8K BTC in net flows, equivalent 41% of that amount.”
Meanwhile, the pseudonymous analyst DonAlt, who has a long history of accurately timing Bitcoin moves, believes BTC is in bull territory as the largest crypto asset by market cap refuses to initiate a deep corrective move.
“You just don’t get massive pullbacks when the market is bullish.
Shallow? Yes.
Deep? No.
The only times when you actually get deep pullbacks are when bulls are proven wrong, in which case you can buy, but just for a bounce, not for continuation.”
Source: DonAlt/X DonAlt predicts that Bitcoin will surge to as high as $90,000 before any meaningful pullback.
“I’m not saying there won’t be pullbacks, by the way. I could see $90,000 to $70,000, for example.
It’s just rare that you get an initial impulse like we had and then immediately show weakness.
I’m pretty sure at $90,000, the people upset in my comments would start switching bullish too.”
The International Monetary Fund has confirmed that El Salvador did not use public funds to accumulate bitcoin after the first review of its loan program, saying in a press release that documentation provided by Salvadoran authorities shows the additional holdings came from private donations. The disclosure accompanied a staff-level agreement on the combined second and third reviews of the country’s 40-month Extended Fund Facility, announced on 3 September 2026.
Donations, Not Public Funds The fund said the bitcoin added since the first review came from private donors, and that no further accumulation beyond those documented donations is expected. The finding explains how El Salvador’s holdings have kept rising even though the fund’s earlier review had required the public sector’s bitcoin balance to remain unchanged. The IMF did not identify the donors or say how much each contributed, and it stressed that the documentation was provided by Salvadoran authorities. The disclosure follows months of questions over how the country’s stockpile kept expanding while it remained inside the lending program.
A National Reserve That Keeps Growing El Salvador’s official tracker has climbed to 7,764.37 BTC after the balance jumped by more than 1,000 BTC in November and has continued receiving one bitcoin a day. President Nayib Bukele said in March of last year that the country’s bitcoin purchases would not stop. El Salvador became the first country to make bitcoin legal tender in 2021, though the original IMF agreement later made private-sector acceptance voluntary, required taxes to be paid in U.S. dollars, and limited public-sector purchases. The government has also transferred majority ownership and operational control of its Chivo wallet to a private operator while retaining a minority stake and custody of customer assets.
Oversight and the Road Ahead El Salvador and IMF staff also agreed on steps to strengthen the legal and supervisory framework for crypto assets and improve oversight of bitcoin held by the public sector. The government has already expanded its national bitcoin treasury and kept up its one-bitcoin-a-day strategy, moves that have drawn scrutiny as the fund weighs how the program fits within its safeguards. The staff-level agreement, which still requires approval from the IMF’s executive board, keeps the lending program on track toward its next disbursement and signals continued cooperation between the fund and the government on bitcoin policy.
AUTHOR
Mysterious crypto writer with expertise in blockchain, offering deep insights that captivate and intrigue readers. With a unique ability to uncover hidden insights and trends, Samuel delivers in-depth analysis and thought-provoking content that keeps readers on the edge of their seats. His writing style is engaging and informative, blending technical knowledge with a sense of intrigue, making complex crypto topics accessible to both newcomers and seasoned industry professionals. Samuel’s work continues to capture the attention of the crypto community, solidifying his reputation as a trusted voice in the space.
The 4-year cycle is back on topic, but Willy Woo believes there's a more apparent pattern in play.
Given the nature of its blockchain, bitcoin was long considered to move around within a broader four-year cycle prompted by the halving, which takes place in general every four years. However, the pattern has been rejected in the past year or so, and popular on-chain analyst Willy Woo took the same approach in his latest opinion on the matter.
He suggested that BTC may be transitioning toward a six-to-eight-year cycle, increasingly influenced by the same debt and liquidity conditions that drive traditional financial markets.
From Halving to Liquidity? Woo’s reasoning begins with the cryptocurrency’s diminishing supply shock. Following the latest halving in April 2024, new BTC issuance dropped to approximately 0.8% of the existing supply per year. The next event, scheduled to take place in early 2028, will reduce that figure to roughly 0.4%.
As newly mined supply becomes increasingly insignificant relative to the existing market, Woo argued that the halving’s ability to dictate BTC’s broader price cycle weakens. Instead, the asset may begin moving more closely with TradFi’s six-to-eight-year short-term debt cycle.
The halving framework worked remarkably well for much of bitcoin’s history. Now, though, the market structure has changed dramatically, perhaps mostly from the US spot Bitcoin ETFs. Current data shows that these financial products hold close to 1.3 million BTC, which is over 6% of the circulating supply. Public companies with at least 1,000 BTC currently own over a million units.
Together, ETFs and those corporate treasuries controlled almost 12% of circulating BTC – vastly more than miners now create annually.
Others who have supported the narrative that the four-year cycle is dead include Arthur Hayes, who claimed in 2025 that traders focus too heavily on it, and Fidelity Digital Assets. In a report from last year, the analysts questioned whether BTC’s maturing market could produce more gradual rallies and corrections rather than the violent boom-and-bust cycles of the past.
You may also like: Bitcoin Holders Just Cashed Out 110,000 BTC in Profits: Is a Bigger Price Drop Coming? Bitcoin’s $3K Drop Comes as Fed Rate Hike Bets Surge, but Analyst Remains Bullish Bitcoin Is Back Above $80,000, But Fidelity Says the Bear Market May Not Be Over Yet Not Everyone Is Convinced Galaxy Research examined the same question in June this year, but concluded something different – BTC’s four-year cycle remains visible in the data. The researchers noted that bitcoin again peaked in October 2025, roughly 18 months after the April 2024 halving – precisely within the historical window.
The difference is that each cycle is becoming less extreme. Bitcoin’s previous bear markets produced drawdowns of approximately 85%, 84%, and 77%, while the decline to the July 1 low was considerably milder at just over 53%.
The bitcoin market pauses after its surge above 82,000 dollars. On September 6, its price moves around 80,000 dollars, in a narrow zone where buyers and sellers neutralize each other. However, the rise observed since late August maintains solid technical foundations. The price remains above the main daily moving averages, while weekend volumes drop sharply. This configuration now places the market facing several key levels before any new sustained acceleration.
In brief The price moves around 80,000 dollars, after failing to sustainably break above 82,000 dollars. The 79,586–80,147 dollar zone is the main short-term support to watch. Moving averages remain favorable, with the price still above the main daily indicators. Oscillators and low volume show a slowdown in momentum after the September 3 peak. Oscillators and low volume show a slowdown in momentum after the September 3 peak. Bitcoin: resistance remains firmly present around 82,000 dollars After a particularly volatile week for Bitcoin, the market now moves into a waiting phase. Around 9:30 am on September 6, the price ranges between 79,750 and 80,100 dollars as shown on the BTC/USD hourly chart—Bitstamp on TradingView below. Hourly candles remain small and overlap since the strong progression observed on Friday. This evolution reflects a temporary balance between buyers and sellers.
Bitcoin moves below 80,000 dollars, with visible resistance around this key threshold. Source: TradingView The decline in volumes reinforces this impression of caution. Trades made on Saturday and Sunday remain well below levels observed on September 3 and 4. This drop corresponds to the usual weekend rhythm but also limits the scope of recorded movements. A significant variation in a low-liquidity market does not necessarily provide a lasting confirmation.
The immediate battle focuses on a range of a few hundred dollars. The intraday zone extends precisely from 79,586 to 80,147 dollars. A confirmed break above 80,147 dollars could push the bitcoin price toward 80,335 dollars, then 80,523 dollars. Conversely, a break below 79,586 dollars would place 78,650 dollars as the next technical target.
This situation explains the importance of volumes in the coming hours. A breakout from the current zone without notable trading volume would remain difficult to interpret. Operators must therefore simultaneously monitor the price and market activity. For now, no camp manages to clearly regain the upper hand.
Bitcoin slows down after the strong rise at the beginning of September The four-hour analysis helps better understand the current slowdown. The market rose sharply on September 3 before reaching a zone between 81,400 and 82,200 dollars. This rise then encountered significant resistance. On September 4, a quick correction brought the price back toward 78,000 dollars.
The following sessions then established a stabilization phase. The price moved between about 79,500 and 80,200 dollars during the next two sessions. At the same time, the range of fluctuations decreased. Volume also declined, confirming the change of pace after the early-week surge.
BTC/USD chart on 4 hours via Bitstamp. Source: TradingView The price currently sits around the middle of this range. The zone from 79,900 to 80,100 dollars has concentrated a large part of recent trades. This position particularly indicates stabilization after the failure to break resistance. It does not yet signal a new upward phase.
The next four-hour close therefore becomes decisive. A close below 79,586 dollars could open a move toward 78,650 to 78,700 dollars. Conversely, buyers must achieve a close above 80,335 dollars, then 81,430 dollars. These levels would confirm a new test of the peak reached on September 3.
The daily trend retains several supports On the daily chart, the general structure remains stronger despite the recent pause. The market had established a consolidation base between 58,000 and 64,000 dollars in mid-summer. Progress then accelerated at the end of August. The price ultimately reached about 82,239 dollars on September 3.
The pullback on September 4 did not cancel this upward trend. The days of September 5 and 6 mostly show reduced volatility. On Sunday, the price opened at 79,830 dollars, reached 80,106 dollars, touched 79,600 dollars, and then displayed 79,910 dollars. These levels show a recovery that maintains structure but that now crosses a pause phase.
Daily BTC/USD chart via Bitstamp September 6, 2026. Source: TradingView
The price also remains above the 10- and 20-day moving averages. These stand respectively at 78,771 and 77,231 dollars. This position maintains a favorable framework on the daily chart. However, the reduced volume limits the interpretation of this short-term analysis.
Trades over 24 hours currently reach 20.21 billion dollars. This amount remains well below the 35 to 40 billion recorded on September 4 and 5. A new test of the resistance between 80,335 and 82,239 dollars remains possible. However, current data show more of a slowdown than a new acceleration of the trend.
Oscillators indicate a cooling of momentum Daily technical indicators present a more mixed situation. According to CoinLore data, the RSI reaches 66.71 at the time of writing, a high level but still below the classic overbuy threshold set at 70. The stochastic is around 62, while the CCI reaches 65.77. The ADX shows 47 Sunday morning, while the Awesome Oscillator reaches 7,714.
These indicators remain considered neutral overall. The ADX confirms, however, that the trend retains some persistence. Despite this element, the overall reading includes two bearish signals, nine undecided signals, and no bullish signals. This distribution shows that indicators do not yet confirm a new acceleration.
Momentum provides an additional caution signal. The momentum oscillator displays -379, while the MACD is at 3,230 with a bearish reading. These two indicators correspond to the pullback observed after the September 3 peak. They thus show that the speed of progress has weakened since the recent peak.
This divergence between price structure and momentum deserves particular attention. The market retains several technical supports, but momentum indicators remain less favorable. A new increase would thus need additional confirmations. Without these, consolidation around 80,000 dollars can continue.
Moving averages maintain a favorable orientation Moving averages present a different reading from oscillators. The exponential moving averages at 10, 20, 30, 50, 100, and 200 periods all show bullish signals. Simple moving averages also follow this orientation. Bitcoin’s price thus remains above each of the main daily moving averages.
The indicator dedicated to moving averages lists 13 positive signals, one neutral signal, and one bearish signal. This configuration thus offers a globally favorable framework. It explains why the daily structure remains stable despite the momentum slowdown. However, it alone is not sufficient to confirm a new peak.
The Hull moving average is the main immediate obstacle. It stands at 80,523 dollars, just above the current price. This average adds extra resistance in an area already marked by several technical levels. Breaking this reference could therefore reinforce the reading of a recovery.
Below the market, several averages form an important support zone. The 20-period SMA is at 77,208 dollars, while the 20-period VWMA reaches 76,714 dollars. The 20-period EMA is at 76,416 dollars. A daily close below this ensemble would change the currently favorable structure.
Key Bitcoin levels to watch In the short term, two zones concentrate most attention. Above the price, the zone from 80,335 to 82,239 dollars groups several important resistances. Below the market, the zone from 79,586 to 78,650 dollars constitutes the first technical area to watch. A confirmed breakout from one of these two zones would better define the next direction.
The more distant support is around 76,200 dollars. The psychological zone of 75,000 dollars then constitutes another marker. These levels allow measuring the potential magnitude of a possible downward movement. They thus complement the structure observed around daily moving averages.
The derivatives market also provides an additional indication. Call options currently represent 61.69% of open positions according to Coinglass data. Put options represent 38.31% of open positions. On Binance, the level of maximum sensitivity is around 70,000 dollars, while the following expirations roughly range from 60,000 to 80,000 dollars.
Calls dominate open positions at 61.65%, while puts represent 50.30% of 24h volume. Source: Coinglass.
This configuration alone does not allow determining the market’s next direction. Derivatives complement price, volume, and technical indicator data. For now, these elements show a still balanced situation in the short term. The next breakout will therefore need to be accompanied by higher volumes to gain reach.
The market thus retains a favorable daily structure, but immediate momentum remains fragile. Breaking 80,335 and then 81,430 dollars would strengthen the possibility of a new test of the September 3 peak. Conversely, a break below 79,586 dollars would put 78,650 dollars back at the center of analysis. Between these levels, consolidation can still continue.
In the short term, BTC‘s trajectory will therefore mainly depend on the next closes and volume evolution. A recovery of trades would ideally accompany any attempt to break resistances. Otherwise, the market could maintain lateral movement around 80,000 dollars. The next direction will thus remain conditioned by the price’s ability to sustainably exit its current range.
Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
Join the program
A
A
Lien copié
Ghiles A.
Journaliste et rédacteur web passionné par l’univers des cryptomonnaies et des technologies Web3. J’y traite les dernières tendances et actualités afin de proposer un contenu de haute qualité à un large public du secteur.
TLDR: MENA crypto transaction volume reached about $350B by 2025–2026, rising from roughly $100B recorded in 2022. Saudi Arabia led regional crypto growth at 154% YoY, ahead of Qatar’s 120% increase during the period. Turkey led MENA by transaction value, processing nearly $200B in annual crypto activity through mid-2025. The UAE handled more than $56B in 2024–2025 crypto volume, with activity rising 33% from the prior period. Crypto activity across the Middle East and North Africa has expanded sharply, with annual on-chain transaction volume reaching about $350 billion by 2025–2026. The Bitcoin Policy Institute says that figure has climbed from roughly $100 billion in 2022, reflecting stronger investment activity and wider digital-asset use.
Saudi Arabia has emerged as the fastest-growing market in MENA, recording 154% year-over-year growth, while Qatar followed with a 120% increase. Turkey remains the regional leader by transaction value, processing nearly $200 billion annually despite faster growth elsewhere.
Saudi Arabia Leads MENA Crypto Growth as Turkey Tops $200B The growth figures show that crypto expansion across MENA is not concentrated in a single market or driven by one adoption model. Instead, Gulf investment, inflation pressures, regulation, and cross-border activity are shaping different markets.
Saudi Arabia’s 154% growth rate came from Chainalysis data covering July 2023 through June 2024. That expansion coincided with broader investment in fintech, blockchain infrastructure, and digital payments.
Source: Chainalysis
However, higher transaction activity has not translated into unrestricted cryptocurrency regulation. The IMF said in its 2026 consultation that cryptocurrencies remain prohibited in Saudi Arabia.
Authorities are instead developing a digital-asset strategy focused on financial stability, monetary sovereignty, consumer protection, and market integrity. At the infrastructure level, Saudi Arabia joined the BIS-backed mBridge project in 2024.
The project tests wholesale central bank digital currencies for cross-border payments between commercial banks. Qatar has, however, taken a more formal regulatory path. Its Qatar Financial Centre introduced a Digital Assets Framework in 2024 covering tokenization, custody, exchanges, transfers, and smart contracts.
Turkey remains substantially larger by transaction value. Chainalysis placed the country near $200 billion annually through mid-2025, making it MENA’s biggest crypto market. Persistent lira depreciation and inflation have helped support cryptocurrency demand as residents seek alternative investments and ways to preserve purchasing power.
Gulf Regulation and Stablecoins Reshape Regional Crypto Activity The UAE represents another model built around institutional participation and regulated digital-asset businesses. Chainalysis measured more than $56 billion in transactions during 2024–2025, up 33%.
Large institutional transfers accounted for much of that increase. Meanwhile, the Bitcoin Policy Institute estimated the UAE market at approximately $150 billion using a different methodology.
That difference highlights a major limitation when comparing regional totals. Chainalysis previously measured $338.7 billion across MENA between July 2023 and June 2024. It later reported regional volume above $500 billion for the year ending June 2025.
Consequently, the $350 billion estimate should be viewed within its specific methodology. Asset composition also differs across Gulf markets. Bitcoin accounts for an estimated 38% of UAE activity, while Ethereum represents 22%, according to BPI data.
USDT and USDC together account for another 30%, showing the significant role of dollar-linked stablecoins in regional digital-asset activity. Broader geopolitical pressures have also influenced trading behavior.
During the June 2025 Israel-Iran conflict, Bitcoin fell about 2.3% to $105,200. Ether declined 7.5%, while Bitcoin later stabilized between $104,000 and $106,000. Its market dominance increased to 64.8% during the same period.
The data shows a MENA crypto market expanding through several distinct channels. Saudi Arabia leads percentage growth, Turkey dominates transaction value, while Gulf regulation supports institutional participation.
Bitcoin (CRYPTO: BTC) surged 22% in August while the Nasdaq (NASDAQ:NDAQ) barely moved 5% and its correlation with gold hit a six-year high, fueling a debate whether BTC is breaking away from its traditional risk-asset behavior.
Why Bitcoin Correlations ShiftProminent key opinion leader Scott Melker pushed back on the idea that Bitcoin needs to permanently track either equities or gold.
He argued on Friday that Bitcoin’s changing correlations show it remains largely uncorrelated over longer periods, potentially helping portfolio diversification.
Bitcoin’s correlation with gold has risen sharply as its link with stocks has weakened.
Melker cautioned that these shifts may not last. Bitcoin can move with stocks at times and gold at others without being tied to either over the long term.
Trending
Bitcoin’s rally came as U.S. spot Bitcoin ETFs recorded about $731 million in daily inflows, the strongest since January.
The crypto king is nearing its 50-week moving average.
Melker said a break above $82,800 would mark a higher high and strengthen the bullish structure.
Wall Street Moves On-ChainOffchain co-founder Steven Goldfeder pointed to Robinhood Markets Inc. (NASDAQ:HOOD) as an example of traditional finance adopting blockchain infrastructure.
Robinhood Chain, built with Arbitrum technology, processes roughly 12 million to 15 million transactions daily and generates millions of dollars in fees, according to Goldfeder.
He expects other financial firms to follow as tokenized assets, 24/7 trading and near-instant settlement become more common.
Goldfeder sees privacy becoming critical as institutions move on chain.
Financial firms will likely favor systems that protect transaction details while keeping required information available to authorized parties.
Image: Shutterstock
Market News and Data brought to you by Benzinga APIs
Liquid Network, a Bitcoin sidechain built and maintained by Blockstream, has temporarily halted its network after purported white-hat hackers took about 4,000 BTC, worth around $320 million, from the Liquid Federation wallet, the project said in a Sept. 6 statement.
We are aware of a security incident on @Liquid_BTC. Purported white-hat hackers have withdrawn ~4,000 BTC (~$320 million) from the Liquid Federation wallet. The @Blockstream team is working on contacting them on-chain with a signed message.
What we know so far is that the funds…
— Liquid Network 🌊 (@Liquid_BTC) September 6, 2026
Blockstream said the withdrawal was carried out through the SideSwap PAK, or Peg-out Authorization Key. Neither the key nor any other keys were compromised, the team added.
Liquid has notified exchanges and paused Liquid Bitcoin (LBTC) deposits and withdrawals. The incident does not affect other Liquid assets such as USDT, DePix and tokenized real-world assets.
Advertisement
Bridge nodes have also been disabled, effectively pausing the Liquid sidechain and preventing new transactions from being submitted.
Blockstream is working to contact the purported white-hat hackers through an on-chain signed message while federation members work to restore network operations.
Liquid users of Aqua Bitcoin are seeing functionality impacts as teams work to resolve the ongoing security incident, according to Samson Mow, the founder and CEO of JAN3, the company behind the Aqua wallet.
Everyone is actively working to resolve this and we'll share information as the situation develops. As a @Liquid_BTC wallet, Liquid functionality in @AquaBitcoin is impacted, but Bitcoin transactions will still work normally.
These are difficult times but we'll pull through. 🙏 https://t.co/QFqCJuEfaJ
— Samson Mow (@Excellion) September 6, 2026
Mow said Bitcoin transactions on Aqua remain operational and will continue to work normally and that further information will be shared as the situation develops.
Liquid launched in 2018 with the goal of improving liquidity and speeding up Bitcoin transfers between exchanges, brokers and other users. Its early participants included Bitfinex, OKCoin, BitMEX and SIX Digital Exchange.
The network offers several features for faster and more private Bitcoin transactions, including L-BTC, which is backed by a two-way peg to Bitcoin. Liquid also enables Issued Assets with Bitcoin-like functionality for traditional assets and uses Confidential Transactions to improve privacy.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Someone pulled $319 million in Bitcoin (BTC) out of Blockstream’s Liquid network on Sunday. It cost 21 cents in fees. Then they left a note on the blockchain saying they were the good guys.
While the internet calls it a heist, the chain says something stranger. Liquid’s remaining coins are still fully covered, down to the fourth decimal place.
We are aware of a security incident on @Liquid_BTC. Purported white-hat hackers have withdrawn ~4,000 BTC (~$320 million) from the Liquid Federation wallet. The @Blockstream team is working on contacting them on-chain with a signed message.
What we know so far is that the funds…
— Liquid Network 🌊 (@Liquid_BTC) September 6, 2026
Follow us on X to get the latest news as it happens
$320M Crypto Reserve Moves, But the Wallet Left a Strange MessageThe first move cleared at 14:06 UTC, releasing 3,996 coins to an address nobody had ever used before. That was 95% of everything the network held.
Four hours later the money moved again. The sender paid 269 satoshis, about 21 cents, and attached a message anyone can read.
Actors left a message “we are whitehats. contact us on chain”. Source: memepoolThen they sent 0.00001 back to Liquid’s own address. The other 3,998.49 coins have not moved since.
“It looks like ~4,000 BTC just moved from the Liquid Network bridge all at once with an OP Return saying, “we are whitehats. contact us on chain”,” one user noted.
The Part Everyone MissedLiquid runs on one rule: To take coins out, you destroy the matching tokens inside the network first. So when the reserve shrank, the tokens it backs shrank with it. Both landed in nearly the same spot.
Hacker message: "we are whitehats. contact us on chain"
c103de95817b43f2df635ec6f35ff126ca26a7c6d20570c4b01866b2b3e69a19
— ∴FreeSamourai∴ (@ErgoBTC) September 6, 2026
The peg holds, with 0.22 coins to spare. Nobody still holding L-BTC is short a satoshi. That kills the insolvency story. However, it leaves a worse one. Add what left to what remains, and the network held about 4,193 coins on Saturday. Nearly all of them were burned to make this move work.
Blockstream is clear about who can do that. Only a federation member can burn the tokens. Fifteen companies hold the keys, and 11 must sign before coins leave.
Its documentation calls the destination list a safeguard.
Whitelisted addresses are used as a failsafe to ensure that the federation always remains in full control of the BTC held by the Liquid Network,” the team said in its documentation.
The coins went to a brand new address. Blockstream has not explained that, or said anything at all.
Traders have seen this before, particularly with Ronin bridge attackers who gave back $10 million and took a bounty in 2024.
The money sits still, in daylight. Whoever holds it asked to be contacted. Nobody has answered.
Peter Schiff reopened the Bitcoin-backing debate this weekend, arguing that the energy consumed by miners leaves nothing behind to support the asset.
Schiff answered Bitcoin maximalist Jeff Swanson, who had called the asset the future of money. Their exchange revived crypto’s oldest argument about what gives money value.
Peter Schiff Rejects the Bitcoin Backing ArgumentSwanson listed three pillars in his original post. Energy expenditure came first. A fixed issuance schedule and record computing power followed.
Schiff dismissed that premise outright. Energy vanishes the moment miners consume it, he wrote, so nothing survives to support the network. In his framing, mining destroys value rather than storing it.
Energy expenditures are not backing. The energy is gone, the money spent is gone, so there is none left to back Bitcoin.
— Peter Schiff (@PeterSchiff) September 5, 2026
The gold advocate has run this line for years. Gold still exists after miners pull it from the ground, he argues. Electricity does not.
The timing helps him. Hash rate has slipped for months as operators redirected power toward artificial intelligence, and many miners left the network this year.
Schiff never touched the supply cap, though. That leaves the Bitcoin backing case resting on its hardest number rather than on watts.
A $39 Trillion Figure That Already SlippedSwanson pegged US government debt at $39 trillion. Treasury data disagrees. Total public debt outstanding crossed $40 trillion on Aug. 18 and reached $40.10 trillion on Sept. 3, according to the department’s daily figures.
Line chart of US national debt crossing $40 trillion in 2026, Source: BeInCryptoThat gap matters, because the debt comparison carries the rest of his argument. The $40 trillion debt record arrived in August, and borrowing has not slowed since.
Swanson also tied his case to confidence in the institution issuing the dollar. Schiff ignored that half. He targeted only the energy claim.
Meanwhile, price action offers neither man much comfort. Bitcoin (BTC) changed hands near $79,600 on Sunday, down roughly 1.5% over 24 hours.
Schiff has bent slightly before. Last month, he admitted to missing out on Bitcoin gains, while insisting that long-term holders fared worse than they claim.
Neither side conceded anything here. Still, the question of Bitcoin backing returns every time a debt record falls.
BlackRock has found a way to solve one of crypto’s most persistent identity crises: what do you do when you’re sitting on a mountain of Bitcoin but want the comfort of a brokerage account? You swap it, directly, for shares of the iShares Bitcoin Trust (IBIT), no sale required.
The firm’s in-kind conversion program has quietly processed over $5 billion in direct Bitcoin-to-IBIT swaps as of August 2026. That figure was sitting at roughly $3 billion back in October 2025, meaning the pipeline has grown by more than 60% in less than a year.
The $1 million door just opened wider The acceleration traces back to a single decision made in July 2026. BlackRock slashed the minimum transaction size for in-kind conversions from $25 million down to $1 million.
At the old threshold, the program was essentially a velvet-rope affair for the ultra-wealthy and institutional holders. A $25 million floor meant you needed to be holding roughly 250 Bitcoin (give or take, depending on price) just to walk through the door. The new $1 million minimum opens the program to a much broader class of high-net-worth individuals, family offices, and smaller funds.
Advertisement
The mechanics work through authorized participants, the intermediaries that create and redeem ETF shares. A Bitcoin holder delivers their coins to the authorized participant, who in turn delivers them to the trust and issues IBIT shares back to the holder. No sale hits the market. No immediate capital gains tax event gets triggered.
Why whales are biting Self-custody at scale is genuinely difficult. Hardware wallets, multisig setups, seed phrase management, inheritance planning: all of these become exponentially more stressful when the number after the dollar sign has seven or eight digits. A single operational error can mean permanent, irreversible loss.
By converting into IBIT shares, holders get their Bitcoin exposure wrapped inside the familiar infrastructure of Wall Street. Custodial risk shifts to Coinbase (IBIT’s custodian) and the broader ETF ecosystem. The shares sit in a standard brokerage account, show up on consolidated wealth statements, and can be margined, lent, or used as collateral just like any other security.
Robbie Mitchnick, BlackRock’s head of digital assets, has pointed to the growth potential of this market segment as the accessibility barriers continue falling.
IBIT’s gravitational pull IBIT remains the largest US spot Bitcoin ETF by both assets under management and flows, and the in-kind conversion program is widening that lead.
Every Bitcoin that flows into the trust through a direct swap adds to IBIT’s asset base without requiring a cash purchase on the open market. Cash creations, where an authorized participant buys Bitcoin on the market and delivers it to the trust, can move prices. In-kind creations simply transfer existing coins from one owner to the trust, which is price-neutral in the immediate term but still grows the fund’s footprint.
Other ETF issuers are exploring similar in-kind conversion options, but BlackRock’s distribution network gives it a structural advantage. The firm manages over $10 trillion in total assets across its platform, which means it already has relationships with the advisors, family offices, and institutions most likely to facilitate these conversions.
Tax strategy meets asset management When a Bitcoin holder sells their coins on an exchange, they realize a capital gain (or loss) at the moment of sale. The in-kind swap structure sidesteps this by treating the transaction as a like-kind exchange rather than a sale, deferring the tax liability into the future.
This isn’t a permanent tax avoidance strategy. The holder’s cost basis in the original Bitcoin carries over to the IBIT shares, so the tax bill comes due eventually, presumably when the shares are sold. But the ability to defer that event indefinitely, or until a more tax-efficient moment arises, is enormously valuable for wealth planning purposes.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
TLDR: Ledger CTO challenges the whitehat claim after Liquid’s 3,996 BTC peg-out was valued at $318.4 million. Liquid says the peg-out used SideSwap’s PAK, while the key itself and other authorization keys stayed secure. The 3,996 BTC transfer represented roughly 95% of Liquid’s Bitcoin reserves, intensifying control scrutiny. Liquid paused bridge activity as most withdrawn BTC remained concentrated and LBTC backing stayed matched. Liquid Network is investigating an unusual peg-out involving roughly 4,000 BTC after actors behind the withdrawal described themselves as “whitehats.” Ledger CTO Charles Guillemet has challenged that description, arguing that legitimate researchers usually disclose vulnerabilities before moving substantial collateral.
Ledger CTO: 4,000 BTC Pegged Out of Liquid Bridge, “Whitehat” Claim Raises Doubts
Ledger CTO Charles Guillemet said about 4,000 BTC were pegged out of the Liquid bridge, with an OP_RETURN message stating, “we are whitehats. contact us on chain.” He argued that white hats do not… pic.twitter.com/o0CHl4gyM4
— Wu Blockchain (@WuBlockchain) September 6, 2026
The September 6 transaction moved about 3,996 BTC from federation-controlled reserves while Bitcoin traded near $79,675. The transfer was worth approximately $318.4 million. A later transaction carried an OP_RETURN message stating, “we are whitehats. contact us on chain.”
Guillemet argued that withdrawing hundreds of millions of dollars before opening communication differs sharply from conventional vulnerability disclosure practices. His comments shifted attention from the transfer itself toward the conduct of the actors controlling the funds.
The Ledger CTO compared the situation with major bridge and protocol exploits where attackers later communicated with affected projects. He cited the 2022 Ronin bridge attack and the 2023 Euler Finance exploit.
Ronin lost more than $600 million after stolen validator keys allowed unauthorized withdrawals. Euler Finance later recovered assets following negotiations after an exploit initially drained about $197 million.
However, those historical comparisons do not establish malicious intent in the Liquid Network incident. The roughly 4,000 BTC has not been reported as rapidly dispersed or laundered. Instead, most of the funds remained concentrated following the peg-out.
The actors also explicitly requested contact through the Bitcoin blockchain. Blockstream later responded using an on-chain message and asked the party controlling the funds to contact its security team.
However, no confirmed agreement or asset return has been reported. The central issue therefore remains whether the actors’ whitehat description matches their actions. That claim has not been independently verified.
Liquid Probes How 3,996 BTC Cleared Its Peg-Out Security Controls The Liquid Network later confirmed a security incident and said the withdrawal passed through SideSwap’s Peg-out Authorization Key, known as PAK. Nevertheless, the network said SideSwap’s key itself was not compromised.
Liquid Network confirmed a security incident, saying the funds were withdrawn via SideSwap’s Peg-out Authorization Key (PAK), while the key itself and other keys were not compromised. Exchanges have been notified and have paused or will pause LBTC deposits and withdrawals. Other…
— Wu Blockchain (@WuBlockchain) September 6, 2026
Other authorization keys were also reported as uncompromised. That finding has intensified scrutiny over how the transaction satisfied Liquid’s normal withdrawal requirements. Liquid uses a federated security model.
Fifteen functionaries operate the network, while an 11-of-15 quorum controls the Bitcoin peg. Normally, LBTC must be destroyed before matching BTC can leave federation-controlled reserves. PAK restrictions provide another layer by limiting peg-outs to authorized Bitcoin addresses.
On-chain analysis indicated that corresponding LBTC was burned during the withdrawal. That meant the remaining LBTC supply continued to retain matching Bitcoin backing. The distinction reduced immediate concerns about uncovered LBTC liabilities. However, the transaction still represented roughly 95% of Liquid’s Bitcoin reserves.
Liquid responded by notifying exchanges, which paused or prepared to pause LBTC deposits and withdrawals. Bridge nodes were also temporarily disabled while federation members continued investigating. Assets including USDT, DePix, and tokenized real-world assets were not affected, according to the network.
The incident now centers on two verified questions. Investigators must establish how the authorization process permitted the peg-out and whether the withdrawn BTC will be returned.
Liquid Network is reviewing a major incident after about 3,996 BTC, valued at $318.4 million, was withdrawn from its reserves in a single transaction. The actors behind the withdrawal described themselves as “whitehats” in an on-chain message, prompting extensive scrutiny from industry leaders and the wider crypto community.
Ledger Chief Technology Officer Charles Guillemet publicly raised doubts about the legitimacy of the “whitehat” claim. He stated that taking control of such a significant amount of BTC without prior disclosure to network operators does not align with standard security research procedures.
Guillemet compared the event with previous high-profile protocol exploits, referencing the 2022 Ronin bridge attack that resulted in losses exceeding $600 million and the 2023 Euler Finance incident in which assets were ultimately returned after negotiations.
Withdrawing hundreds of millions before communication is completely different from disclosing a vulnerability, and this conduct diverges from established whitehat practices, Guillemet argued. The focus has turned to whether these actors’ actions genuinely warrant the label they chose for themselves.
Despite similarities to some previous bridge exploits, the BTC that left the Liquid Network has not been reported as widely dispersed or laundered. In a notable move, the individuals behind the peg-out posted an OP_RETURN message on the blockchain, inviting contact: “we are whitehats. contact us on chain.”
Blockstream responded on the Bitcoin blockchain, urging the party in control of the funds to reach out to its security team. However, there have been no confirmed negotiations or asset returns as of now, and independent verification of the whitehat claim remains outstanding.
Liquid investigates peg-out mechanics and security modelFollowing the withdrawal, Liquid Network confirmed that the peg-out utilized SideSwap’s Peg-out Authorization Key (PAK), an additional security layer. The network stated that neither the PAK nor any other authorization keys appeared to be compromised, intensifying debate over whether existing withdrawal safeguards were adequate.
Liquid employs a federated security structure where 15 functionaries govern the network, and an 11-of-15 quorum is required to unlock Bitcoin from reserves. The system mandates that Liquid Bitcoin (LBTC) must be destroyed before a matching amount of BTC can be released, with peg-out authorized only to approved addresses via the PAK mechanism.
On-chain analysis confirmed that the proper amount of LBTC was burned during the withdrawal process, ensuring the liquid supply of LBTC remained fully backed and minimizing immediate risk of unbacked liabilities.
Nonetheless, the nearly 4,000 BTC peg-out amounts to around 95% of the network’s total BTC reserves. This scale led exchanges to temporarily suspend LBTC-related deposits and withdrawals in order to mitigate further exposure. Liquid paused bridge node activity while its investigation proceeded, but confirmed that USDT, DePix, and tokenized assets held on the platform were unaffected.
Critical market tools and next stepsThe Liquid security incident comes at a time when technical volatility can dramatically shift crypto market dynamics. For traders navigating sudden events—whether triggered by a major Federal Reserve announcement or an unexpected altcoin listing—monitoring all relevant data is crucial. In these environments, switching between multiple apps for charts, news, and portfolio updates has grown costly for investors. As a result, many have turned to privacy-first solutions like CryptoAppsy to bring real-time charts, price alerts, asset-specific news, and macroeconomic data together on a single platform, with no account required.
Investigators continue to focus on two key areas: how this peg-out passed normal authorization checks and whether the withdrawn BTC might ultimately be returned. The answers may shape trust in federated security models going forward.
The Liquid Network said Sunday that purported white-hat hackers withdrew about 4,000 bitcoin, worth about $320 million, from the federation wallet that backs L-BTC. Bridge nodes were disabled, and the sidechain was paused. Other issued assets, including USDT, DePix and RWAs, were unaffected, the official account said on X.
The Liquid Network is a federated sidechain of Bitcoin, founded by Adam Back’s Blockstream. The Liquid chain issues a variety of assets such as LBTC, which it backs with BTC on the Bitcoin main chain, held in a large multisig of 15 corporate and known members. 11 of the 15 members need to sign a valid multi-signature transaction to move coins from the treasury. Before the hack, the treasury held over 4200 BTC; after the hack, Blockstream’s proof of reserves page reports a little over 207 BTC left.
The hackers withdrew 4,019.4 BTC from the reserve address in a peg-out transaction using the SideSwap Peg-out Authorization Key. SideWap is a bridge exchange and a member of the Liquid Federation. While details on the mechanism of the hack are not confirmed yet, it appears an inflation bug on the LBTC side chain was exploited by the hackers to create over 4,000 LBTC that did not exist before, and cash them out for on-chain bitcoin from the federation. Because the transaction appeared as valid, given the consensus bug, the federation members’ HSM security servers signed the BTC withdrawal transaction, worth roughly 320 million at the time.
The hacker moved the funds to an address ending in 6gyqjlte, from which they quickly signed a new transaction with a message on the OP_RETURN arbitrary data field saying “we are whitehats. contact us on chain.” Those coins were still at that address at the time of writing.
A small mainnet transaction to the hacker address followed by an OP_RETURN saying “Please contact [email protected]”, presumably from a Blockstream public address, though that remains unconfirmed. A later OP_RETURN spend from the hacker address carried “Please contact us on Signal @m671aw.70”, however, this may be spam and does not share a link to the address with the stolen funds.
In response to the breach, exchanges were told to pause L-BTC deposits and withdrawals. Bridge nodes on the Liquid Network have been paused, limiting access to the side chain, which continues to produce blocks.
JAN3 CEO Samson Mow said Aqua’s Liquid features were affected and that on-chain bitcoin still worked. Other wallets in the industry that use the Liquid Network are expected to be affected. Users holding LBTC now effectively have their savings at risk, since the underlying BTC is currently not redeemable. Given the private nature of the Liquid chain, user onchain analytics are scarce and not much public information is known about how much LBTC is held by retail users versus corporations of Blockstream itself. Nevertheless, should the funds not be returned, it would be a heavy blow to the Liquid Network’s user base.
Users of LBTC don’t have many options but to wait for conversations with the hackers to resolve. Given the size of the hack, it would be difficult for the hackers to get away with stealing all that bitcoin, though perhaps not impossible. What may happen is that the hackers ask for a finder’s fee and return the majority of the funds.
The Liquid Network reported that hackers withdrew approximately 4,000 BTC, valued at nearly $320 million, from the federation wallet that backs its LBTC sidechain asset on Sunday. Following the incident, Liquid immediately paused its bridge nodes and suspended L-BTC deposits and withdrawals to prevent further unauthorized transactions. Assets such as USDT, DePix, and RWAs issued on the network remained unaffected, according to the official Liquid Network account.
Details of the ExploitThe Liquid Network, a federated Bitcoin sidechain developed by Blockstream, enables fast and confidential transfers by issuing tokens like LBTC, which is backed 1:1 by bitcoin held in a multi-signature wallet. This wallet operates under the control of 15 federation members, requiring the signatures of 11 members for fund movements. Before the security breach, the reserves accounted for over 4,200 BTC; afterwards, Blockstream’s proof of reserves page indicated a steep drop to just over 200 BTC.
Hackers managed to drain 4,019.4 BTC from the reserve via a peg-out transaction, exploiting the SideSwap Peg-out Authorization Key. SideSwap, a bridge exchange and member of the Liquid Federation, appears to have been central to the technical flaw. Preliminary evidence suggests that the attackers took advantage of an inflation bug on the LBTC sidechain, allowing them to mint over 4,000 counterfeit LBTC and redeem this for real bitcoin held in the treasury. As the transaction complied with Liquid’s consensus rules at the time, the system’s security modules, called HSMs, signed off on the withdrawal, permitting the attackers to transfer a sum worth roughly $320 million.
Mini dictionary: Hardware Security Module (HSM): A physical or virtual device designed to safeguard and manage digital keys, perform cryptographic operations, and increase overall security for sensitive blockchain actions and key management.
MetricBefore HackAfter HackBTC in Reserve4,200+207Total BTC Withdrawn–4,019.4LBTC RedeemabilityFully redeemableCurrently haltedWhite-Hat Claims and Ongoing NegotiationsThe hackers moved the stolen bitcoin to an address ending in 6gyqjlte and attached a message in the OP_RETURN data field stating “we are whitehats. contact us on chain.” At the time of publication, the full amount remained at this address. Later, an on-chain message from the suspected Blockstream team requested contact via the provided security email address, although this has not been concretely verified. The attacker responded with a further OP_RETURN message containing instructions to communicate over Signal, an encrypted messaging platform.
Blockstream, a Canadian blockchain technology company founded by Adam Back, is the principal developer behind Liquid Network. Liquid is known for its federated model, in which a select group of entities operates the bridge between Bitcoin and its sidechain assets. The network’s private technical architecture makes external investigation challenging, particularly around retail exposure and address balances.
Mini dictionary: OP_RETURN: A special feature in Bitcoin transactions that allows a small amount of data to be embedded in the blockchain, often used for attaching messages or signals related to a transaction.
User Impact and Industry ResponseLiquid recommended that exchanges and service providers halt all LBTC transactions until further notice. While the sidechain continues to produce blocks, bridges to the Bitcoin mainnet remain suspended.
Samson Mow, CEO of JAN3, stated that the hack impacted Aqua, a wallet that relies on the Liquid Network, but clarified that standard bitcoin transactions continue unaffected. Other industry wallets and services integrated with Liquid may be similarly affected.
Users holding LBTC currently face uncertainty over their token backing, as the bitcoin reserves are no longer sufficient for redemption. Public data is limited, so the proportion of retail versus institutional exposure remains unclear, but the incident is considered significant for both corporate and individual users who depend on the security of the Liquid Network.
LBTC holders now risk their savings, as the underlying BTC reserves are unavailable for redemption, leaving few options but to await a resolution with the hackers.
Given the scale of the heist and the public messages left by the attackers, some industry sources believe a finder’s fee or partial return of funds could be negotiated. However, if the bitcoin is not recovered, the breach would mark a substantial setback for the Liquid Network and its community.
The IMF stated that the recent Bitcoin accumulation came from private donations, not public funds
El Salvador has significantly reduced public participation in its Chivo e-wallet as part of changes to the government’s involvement in Bitcoin, according to the International Monetary Fund.
The IMF said efforts are also underway to improve transparency around the country’s BTC holdings across its different wallets.
No Public Funds Bought Bitcoin Majority ownership and operational control of Chivo have been transferred to a private operator, while the government has kept a minority stake and responsibility for holding customer assets. On Bitcoin accumulation, El Salvador provided documentation showing that the BTC acquired since the first review of its IMF program came from private donations, and no public funds were used for the purchases.
The IMF staff and the Salvadoran authorities have reached a staff-level agreement that also includes measures to strengthen the governance and risk management of crypto assets held by the public sector, along with plans to update the country’s digital-asset legal, regulatory and supervisory framework.
The IMF said no additional Bitcoin accumulation beyond the documented donations is expected. The developments come as El Salvador continues implementing reforms under its Extended Fund Facility arrangement with the international financial organization.
Zooming out, the IMF Mission Chief for El Salvador, Mr. Torres, stated that the country’s economy grew more than expected in 2025, and real GDP growth is expected to reach 4.5% this year. The outlook is being supported by investment and consumer spending, as well as remittances, tourism, and capital inflows. The IMF also pointed to improved security and higher investor confidence as factors supporting the economy. It said the government’s economic policies have helped strengthen fiscal and external buffers.
El Salvador Bitcoin’s Stash El Salvador became the first country to make Bitcoin legal tender, but its use and accumulation have faced continued opposition from the International Monetary Fund. As part of negotiations for its $1.4 billion IMF program, the country agreed to limit public-sector involvement in BTC, make private-sector acceptance voluntary, and scale back parts of its crypto framework.
You may also like: Bitcoin’s 4-Year Cycle Could Be Changing: Willy Woo Reveals What Could Replace It Crypto Holders Turn to Loans as Markets Cool in 2026: CQ Bitcoin Holders Just Cashed Out 110,000 BTC in Profits: Is a Bigger Price Drop Coming? The National Bitcoin Office’s reserve tracker currently lists around 7,764 BTC. At the current price of $81,150, the holdings are worth roughly $630 million.
Crypto holders increased their use of digital asset-backed loans in 2026 as weaker markets reshaped borrowing habits and collateral preferences.
Crypto holders relied more on loans backed by digital assets as market conditions weakened in 2026, according to research from CryptoQuant.
The report analyzed data from crypto lender CoinRabbit. It found higher borrowing activity among both retail and high-net-worth users.
Borrowing Activity Rises Crypto-backed loans allow holders to access cash without immediately selling their digital assets. Borrowers usually pledge more collateral than they receive, but falling prices can trigger liquidation or require more collateral.
According to the report, retail users recorded the biggest change in borrowing activity during the period. Their average number of loans rose 74%, from 30.8 per user in 2025 to 53.5 in 2026, while high-net-worth users rose 18%, from 16.5 to 19.4.
Repeat borrowing also became more common across the platform. The share of users taking multiple loans increased from 61.9% to 65.1%. Retail borrowers waited an average of 21 days between loans, compared with 11 days previously.
Beyond borrowing activity, collateral preferences also shifted, particularly among wealthier users. Bitcoin’s share of pledged assets among high-net-worth users fell from 57.8% to 30.5%, while Zcash reached 24.2% after not appearing among the previous top 10.
CryptoQuant linked part of Zcash’s rise in collateral use to its sharp price rally. Zcash climbed from about $50 in late 2025 toward $800, while Monero, Chainlink and Cardano also gained larger shares among high-net-worth collateral.
You may also like: Bitcoin’s 4-Year Cycle Could Be Changing: Willy Woo Reveals What Could Replace It 8 in a Row: Ripple (XRP) ETFs Record Another Green Week but Warning Signs Return Bitcoin Holders Just Cashed Out 110,000 BTC in Profits: Is a Bigger Price Drop Coming? Shifting Asset Preferences Retail users continued to rely heavily on XRP as collateral during the period. However, its share fell from 41.7% to 35.2%, while Bitcoin remained close behind. TRON, Stellar, BNB, Kaspa, and Velo also entered the mix.
Meanwhile, the assets users traded most frequently changed during the period as market conditions shifted. Tether and Bitcoin remained the two largest assets by volume, while USD Coin moved into third place. Flare, Ether, and Ondo also entered the top 10.
Solana, Stellar, and Shiba Inu dropped out of the top 10 by trading volume. Together, these changes show that users adjusted both their borrowing and asset preferences during the weaker market period.
Matt Hougan, chief investment officer at Bitwise Asset Management, recently reduced the crypto market to three themes he thinks investors should own for years: Bitcoin as a hedge against currency debasement, Zcash as a privacy asset, and a long tokenization cycle involving Ethereum, Solana, Uniswap and related rails.
Those remarks were captured in a video clip of Hougan speaking, circulated by media outlets on X. Hougan usually talks about structure rather than stock-picking individual tokens: ETFs, advisor allocation, and regulation.
In this case he named names. Bitcoin remains his core monetary trade.
The argument is familiar: governments keep borrowing, fiat purchasing power erodes, and scarce hard assets benefit.
He has grouped that debasement case with other structural supports, including clearer rules, stablecoin growth, tokenization, and tokens that produce real revenue.
He has also said Bitcoin’s old four-year cycle is fading as institutional demand from large wealth platforms becomes more important.
Zcash is the more distinctive call.
Hougan had already pointed in that direction earlier in the year, writing that as Bitcoin is pulled into the mainstream by institutions, room opens for assets such as ZEC.
The privacy thesis is that businesses and individuals will want ways to move value without putting every detail on a fully transparent ledger, especially as monitoring tools improve.
Around the same period, Zcash traded above $1,000 for the first time since 2016 and drew more institutional plumbing, including a U.S. spot product from Grayscale.
The third theme is tokenization. After a week of meetings with dozens of financial advisors,
Hougan wrote that those allocators were more focused on stablecoins and bringing traditional assets on-chain than on Bitcoin itself.
Advisors oversee enormous pools of capital, and he has called them central to the next phase of adoption.
In that setup, Ethereum is the main settlement layer, Solana is a high-throughput alternative, and Uniswap is the exchange layer.
Protocol changes that route fees into token burns are part of the case that this infrastructure can generate economic activity rather than remain a purely narrative trade.
The three ideas are meant to work together. Bitcoin is the scarce reserve asset. Zcash is positioned as the coin that supplies privacy features Bitcoin does not natively offer.
Tokenization is the business layer that could make the rest of crypto matter to traditional finance over a decade. Whether that allocation framework holds will depend on institutional demand, how regulators treat privacy assets, and whether tokenized markets grow from a still-small base into a durable part of capital markets.
Since the Federal Reserve was created in 1913, the US dollar has lost about 97% of its purchasing power, according to the Bureau of Labor Statistics CPI-U.
A 1913 dollar buys roughly 3 cents’ worth of today’s goods, meaning $1 back then is worth about $33 to $34 in 2026.
What 113 Years of Inflation Actually Looks LikeThat figure is not a slogan. It reflects the official price index compounded over 113 years, through two world wars, the Great Inflation of the 1970s, and the 2021-23 spike. The 1971 end of gold convertibility accelerated the dollar’s stretch, and cash left idle was quietly taxed by inflation the entire time.
“Check out the biggest, kosher ponzy scam in recent history. The US dollar has lost 97% of its purchasing power since the Federal Reserve was created in 1913. A $3 item in 1913 would cost $100 today,” one user said on X.
Follow us on X to get the latest news as it happens.
The US Dollar Has Lost 97% of Its Value Since 1913. Source: Federal Reserve Bank of MinneapolisBitcoin was designed in response to that system: a 21 million-coin cap paired with a declining issuance schedule. It did not exist in 1913, so the comparison is not one-for-one. As a store of value, though, its record since 2009 has been extreme in both directions.
Early buyers saw their purchasing power explode. Later buyers, by contrast, endured drawdowns of 50% to 80% within single cycles.
As of early September 2026, Bitcoin trades near $79,852, well below its October 2025 peak of $126,080. Since its inception, the token’s price has soared more than 59,000%, and over full market cycles, it has beaten cash and often beaten gold.
Bitcoin (BTC) Historic Price Performance. Source: BeInCryptoInside any single cycle, though, it can erase years of gains within months — the trade-off inherent to a scarce, non-yielding, narrative-driven asset.
How Institutional Access Changed the StoryUtility has reshaped Bitcoin’s role since then. Spot Bitcoin ETFs, approved in the United States in 2024, turned a bearer asset into a ticker that pensions, RIAs, and balance-sheet allocators can hold without managing private keys.
Those products have accumulated $55.62 billion in cumulative net inflows as of September 4, according to SoSoValue data, with total net assets across the category reaching $101.25 billion, equal to roughly 6.33% of Bitcoin’s entire market cap.
Adoption remains incomplete in several respects. Volatility stays high, regulation varies widely across jurisdictions, and energy and custody risks are real and unresolved. The US dollar still clears most global trade, prices most debts, and pays most wages worldwide. Bitcoin has not replaced that role as a unit of account.
What Bitcoin has done is offer savers an exit from a currency that official statistics say lost 97% of its purchasing power since 1913. Whether that exit functions as a genuine reserve asset, pure speculation, or some combination of both depends heavily on the investor’s time horizon.
Cash loses value slowly and predictably. Bitcoin can lose value fast, sometimes dramatically so, but over the long run, it has, so far, compounded gains faster than either cash or gold.
Subscribe to our YouTube channel to watch leaders and journalists provide expert insights.
A United Kingdom resident has recovered bitcoin now valued at about $4.5 million, more than thirteen years after losing access to his holdings following the collapse of a now-defunct exchange.
Investment lost in early exchange closureKnown publicly only as Chris due to privacy concerns, the investor initially bought bitcoin worth approximately £1,500, then about $2,000, from Britcoin in December 2011. During that period, bitcoin traded below $4 per coin. Britcoin was among the very first UK-based cryptocurrency exchanges and later rebranded as Intersango. The exchange closed operations at the end of 2012 and was fully shut down by early 2014, leaving Chris unable to retrieve his digital assets or access his account.
Chris watched bitcoin’s dramatic price growth from the sidelines, believing that his investment was lost forever. He reflected on the emotional impact of seeing the price surge while holding out little hope of recovery.
“The most painful part was watching Bitcoin’s value skyrocket and realizing what that money could have meant for my family,” he explained.
At the time Chris lost access, his bitcoin was worth about $5,400, a significant sum for his household, especially as he had a young family and a recently purchased home.
He described the experience as “financially crushing,” particularly during an important phase in his family’s life.
Tracing and reclaiming the missing bitcoinRecovery efforts gained momentum when Chris enlisted CEL Solicitors, a UK law firm specializing in financial disputes and asset recovery, along with The Crypto Tracing Experts, which uses blockchain tracing tools. The team identified a digital wallet containing over 5,500 BTC linked to former Intersango customers—a sum currently valued at about $421 million.
CEL Solicitors confirmed that Chris’s claim was successful, enabling him to recover his portion of the funds, now valued close to $4.5 million, with bitcoin trading around $76,500.
Ryan Sweetnam, director of financial litigation at CEL, emphasized that claimants needed detailed documentation stretching back nearly fifteen years, including bank records and evidence of ownership. The process was complex and required precise verification of historical data.
CEL Solicitors noted that other former Intersango users may also be eligible for recoveries if they can provide similar proof.
Chris stated he intends to use part of the recovered wealth to help his son pay off his mortgage and to settle his own outstanding debts.
He added that he plans to hold onto some of the reclaimed bitcoin but admitted uneasiness about potential volatility and evolving cryptocurrency regulations.
“Part of me wants to hold onto some Bitcoin in case it appreciates further, but that also makes me anxious about potential losses,” he said.
This case highlights how digital assets lost nearly a decade ago through early exchange failures can sometimes be recovered with modern blockchain tracing and legal support.
Mini dictionary: Intersango – A former UK-based cryptocurrency exchange, originally launched as Britcoin, which ceased operations following regulatory and financial difficulties, leading to lost customer assets.
YearBTC PriceChris’s Bitcoin Value2011 (Purchase)<$4$2,0002012 (Exchange fails)Approx. $12Approx. $5,4002026 (Recovery)$76,500$4,500,000Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Bitcoin mined in 2010 moved from long-dormant addresses after more than 16 years, reigniting speculation over a possible link to Satoshi Nakamoto.
A dozen addresses holding a combined 600 Bitcoin (BTC), worth about $48 million, moved the coins on Saturday after more than 16 years of dormancy, according to onchain data reviewed by Cointelegraph.
Whale Alert, a blockchain transaction tracking platform, said the 600 BTC came from rewards mined across 12 Bitcoin blocks and that its research found no connection to Nakamoto, the pseudonymous creator of Bitcoin.
“None of the blocks can be connected to Satoshi based on our research,” a spokesperson for Whale Alert told Cointelegraph, tempering speculation around the origins of coins mined while Bitcoin’s pseudonymous creator was still active.
Whale Alert traces all 12 mining block rewardsWhale Alert traced all 12 rewards to Bitcoin blocks mined in March 2010, when each block paid a 50 BTC block subsidy. The subsidy has since been cut in half four times, most recently in April 2024, when it fell from 6.25 BTC to the current 3.125 BTC per block.
The findings expand on Whale Alert’s earlier analysis of seven of the rewards. It said in an X post on Sunday that those seven originated from blocks it had determined were not mined by Nakamoto.
The mining blocks and addresses for the 12 dormant Bitcoin rewards. Source: Whale Alert
Lookonchain, an onchain analytics platform, had also initially identified seven miner wallets that moved 350 BTC after 16.5 years of inactivity, saying the wallets earned the coins through mining in March 2010.
Satoshi-era doesn’t mean Satoshi’s BitcoinThe movement attracted attention partly because the coins date to a period when Nakamoto was still actively involved with Bitcoin.
Nakamoto remained involved in Bitcoin development and communications through 2010 before gradually withdrawing from the project, with their last known communication dating to April 2011.
One of the 12 addresses received a 50 BTC mining reward on March 5, 2010, and moved the coins to a new address on Sept. 5, 2026. Source: Blockchain.com
Whale Alert noted that one reward moved several blocks before most of the others, saying the pattern was consistent with a test transaction before the remaining transfers.
Magazine: BTC will hit $1M by 2030... but Arthur Hayes is buying ETH instead
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Bitcoin mined in 2010 moved from long-dormant addresses after more than 16 years, reigniting speculation over a possible link to Satoshi Nakamoto.
A dozen addresses holding a combined 600 Bitcoin (BTC), worth about $48 million, moved the coins on Saturday after more than 16 years of dormancy, according to onchain data reviewed by Cointelegraph.
Whale Alert, a blockchain transaction tracking platform, said the 600 BTC came from rewards mined across 12 Bitcoin blocks and that its research found no connection to Nakamoto, the pseudonymous creator of Bitcoin.
“None of the blocks can be connected to Satoshi based on our research,” a spokesperson for Whale Alert told Cointelegraph, tempering speculation around the origins of coins mined while Bitcoin’s pseudonymous creator was still active.
Whale Alert traces all 12 mining block rewardsWhale Alert traced all 12 rewards to Bitcoin blocks mined in March 2010, when each block paid a 50 BTC block subsidy. The subsidy has since been cut in half four times, most recently in April 2024, when it fell from 6.25 BTC to the current 3.125 BTC per block.
The findings expand on Whale Alert’s earlier analysis of seven of the rewards. It said in an X post on Sunday that those seven originated from blocks it had determined were not mined by Nakamoto.
The mining blocks and addresses for the 12 dormant Bitcoin rewards. Source: Whale Alert
Lookonchain, an onchain analytics platform, had also initially identified seven miner wallets that moved 350 BTC after 16.5 years of inactivity, saying the wallets earned the coins through mining in March 2010.
Satoshi-era doesn’t mean Satoshi’s BitcoinThe movement attracted attention partly because the coins date to a period when Nakamoto was still actively involved with Bitcoin.
Nakamoto remained involved in Bitcoin development and communications through 2010 before gradually withdrawing from the project, with their last known communication dating to April 2011.
One of the 12 addresses received a 50 BTC mining reward on March 5, 2010, and moved the coins to a new address on Sept. 5, 2026. Source: Blockchain.com
Whale Alert noted that one reward moved several blocks before most of the others, saying the pattern was consistent with a test transaction before the remaining transfers.
Magazine: BTC will hit $1M by 2030... but Arthur Hayes is buying ETH instead
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
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.
Crypto analyst Willy Woo has published a post stating that Bitcoin is significantly decoupling from the U.S. stock market, with the last instance of such a high degree of decoupling occurring in 2015 — the prelude to Bitcoin’s 2017 bull run. In 2014, the stock market remained in a bull market, while BTC experienced a bear market unrelated to stock market trends. From 2015 to 2016, the stock market fluctuated weakly for two consecutive years, yet BTC entered a bull market; then in 2017, when the stock market also turned bullish, BTC surged even more sharply. Willy Woo believes the current market landscape mirrors that period: Bitcoin’s liquidity is continuing to strengthen, while the stock market is starting to show signs of fragility.
Somewhere out there, a miner (or miners) who earned Bitcoin when it was essentially worthless just moved 600 BTC that had been collecting digital dust since around 2010. At current prices, that stash is worth tens of millions of dollars. Whale Alert, the blockchain tracking service, identified the movement across 12 separate mining block rewards, each containing the original 50 BTC coinbase reward from Bitcoin’s earliest days.
The natural first question: is this Satoshi? The answer, according to Whale Alert’s analysis, is no. None of the 12 blocks show any connection to the patterns associated with Bitcoin’s pseudonymous creator.
Ghost coins come back to life Each of the 12 blocks dates back to roughly 2010, when Bitcoin mining could be done on a regular laptop and the price hovered somewhere between fractions of a penny and a few dollars. The 50 BTC reward per block was standard at the time, before Bitcoin’s first halving in 2012 cut that reward in half.
Advertisement
The blocks appear to belong to anonymous individual miners rather than any known entity. What makes this movement notable is the sheer duration of dormancy. Sixteen years of inactivity followed by a sudden transfer raises eyebrows across the crypto community every single time it happens.
A pattern, not an anomaly This isn’t an isolated incident. On September 6, seven addresses tied to early miners moved a combined 350 BTC, valued at approximately $28 million at the time. That transaction followed the same playbook: coins from Bitcoin’s earliest era suddenly transferring to new, unlabeled addresses.
The key detail in both cases is where the coins went. They didn’t land on exchange deposit addresses. Instead, the transfers routed to fresh wallets with no known exchange affiliation. When dormant Bitcoin moves to an exchange, it typically signals intent to sell. When it moves to a new cold wallet, it looks more like housekeeping.
Throughout 2026, substantial amounts of early-era Bitcoin from wallets dating to the 2011-2014 period have also shown signs of reactivation. The cumulative effect is a steady drip of ancient coins waking up, creating a broader trend that on-chain analysts have been tracking closely.
Why dormant Bitcoin movements spook the market Even when the data suggests no selling intent, these movements carry psychological weight. The fear is straightforward: if early holders who accumulated Bitcoin at negligible cost start selling, the supply shock could pressure prices downward. A single miner from 2010 sitting on a few hundred BTC has a cost basis of essentially zero.
For traders watching on-chain flows, the distinction between exchange-bound transfers and wallet-to-wallet consolidation is critical. The former is a sell signal. The latter is closer to a vote of confidence.
That said, the mere visibility of these transactions can influence short-term sentiment. When Whale Alert flags a multi-million-dollar transfer from a dormant wallet, it gets amplified across social media within minutes. Traders who don’t dig into the destination details may react reflexively, creating brief volatility that has nothing to do with actual selling pressure.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Bitcoin hovered near $79,900 on Sunday, September 6, positioning itself within close range of a key resistance zone at $80,500. Market participants are watching for signs that the recent weekend rebound can persist, with the risk of a reversal if buyers fail to overcome nearby selling pressures.
Short-Term Resistance and Support LevelsTechnical strategist Kaz, known for crypto market analysis, identified $80,497 as an important resistance level in Bitcoin’s current trading range. According to Kaz, the latest upward move occurred on relatively low trading volume, while fresh buying interest has appeared close to $78,500.
Kaz described a base scenario in which Bitcoin attempts to break through the $80,500 to $80,800 zone. If this area rejects price advances, the market could retrace toward $78,500, which has emerged as a support zone.
The chart marks $80,497 as a significant rejection level. A failure to close above this threshold may confirm a bearish short-term outlook, with $78,562—the monthly open—serving as a potential fallback support.
A broader demand area stretches below $78,562, toward approximately $78,000, which Kaz considers a likely location for renewed buying interest if that level is defended. In such a scenario, any pullback could be viewed as a healthy reset within Bitcoin’s ongoing recovery rather than the start of a deeper corrective phase.
Kaz notes that the bullish structure relies on buyers holding the $78,000 to $78,500 range, which would keep $83,000 to $84,000 targets viable. Conversely, breaking below that support would undermine the continuation case and expose Bitcoin to more substantial downside risk.
If the support zone is maintained and demand returns, potential upside remains in play, with $83,000 to $84,000 cited as medium-term targets. However, a decisive drop through $78,000 supports would weaken this bullish thesis and could open the door to further declines.
Liquidity Concentrations Shape BTC OutlookRecent order book analysis reveals several dense liquidity clusters positioned above Bitcoin’s current price, with significant bands observed between $80,300 and $82,500. Additional concentrations are found around $83,000 and just above $83,500, creating possible targets if resistance is breached.
Kaz’s analysis suggests that these liquidity clusters could attract price momentum should Bitcoin break through $80,500, bringing the $81,000 to $82,500 range into focus ahead of the larger $83,000-$84,000 zone.
Important downside liquidity areas also persist, with notable levels near $78,000 and $77,500. A more substantial base of liquidity sits lower between $74,000 and $76,000, signaling where the market could find support if the current recovery stalls.
LevelTypeRange$80,500-$80,800ResistanceImmediate$83,000-$84,000Upside TargetMedium-Term$78,000-$78,500SupportShort-Term$74,000-$76,000Downside LiquidityLower SupportThis environment places special emphasis on the $78,000-$78,500 support zone. Holding this level preserves the current structure and bolsters the case for another push toward $80,500 resistance. A failure to maintain this area would shift attention to lower liquidity bands and weaken the outlook for continued upward movement.
Bitcoin’s next move now depends on which boundary falls first: the resistance area between $80,500 and $80,800 or the support zone from $78,000 to $78,500. A strong climb above resistance could accelerate movement toward higher liquidity near $83,000-$84,000, while a breakdown would increase the risk of a deeper correction.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
This week was a whirlwind of activity in the cryptocurrency world. From Bitcoin’s fluctuating fortunes to Strategy’s controversial sale, the past few days have been nothing short of eventful.
Let’s dive into the top stories that made headlines.
Bitcoin’s Uncertain FutureCrypto analyst Benjamin Cowen has suggested that the Federal Reserve should consider raising rates at its Sept. 16 decision. This comes after a strong jobs report pushed rate hike odds back to 60%. Cowen believes that the August jobs print essentially reversed what Fed Governor Waller said Thursday, after Waller’s comments had briefly made a hold seem more likely.
Read the full article here.
Strategy Inc. CEO Phong Le defended the company’s decision to sell roughly 7,000 Bitcoin near the market’s lows. Le called the sale “minuscule” and signaled that Strategy could keep buying even if Bitcoin reaches $100,000, $130,000 or higher.
Read the full article here.
American Bitcoin’s First AnniversaryEric Trump celebrated the first anniversary of American Bitcoin Corp. going public. Trump reiterated the company’s vision of making the U.S. a "leader" in the Bitcoin economy. The company now holds 8,300 BTC on its balance sheet and runs a fleet of nearly 90,000 miners.
Read Next
Read the full article here.
Strategy’s Reserve CapitalMichael Saylor highlighted that Strategy Inc. now has more “Total Reserve Capital” than any other financial-services company in the S&P 500 index except Berkshire Hathaway Inc.
Trending
Read the full article here.
SEC’s New Crypto RulesSEC Chair Paul Atkins said that the agency’s new cryptocurrency regulation proposal aligns with the agency’s belief that the CLARITY Act will be enacted into law. Atkins believes this is the “most historic step” taken to modernize cryptocurrency regulations.
Read the full article here.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
Read Next
Market News and Data brought to you by Benzinga APIs
Harmony plans to shut down its mainnet, migrate its ONE token to Ethereum, and pivot to the AI video secondary creation economy.
Harmony announced in a post that it plans to fully shut down its Harmony network and migrate its native token ONE to Ethereum, citing excessive threats from state-sponsored attackers and AI agents. Per the proposal, validators may stop operating nodes starting at 7:00 AM Pacific Time on September 10, 2026, as the project shifts its development focus to the "AI video secondary creation economy". The migration plan will take a snapshot at the network’s final block, with new ONE tokens airdropped automatically to corresponding Ethereum wallet addresses—no action is required from holders. Delegated staking and unclaimed rewards will be airdropped to each governor’s treasury. Harmony noted that multi-signature wallets, liquidity pools, and on-chain applications cannot be migrated, urging users to exit all smart contracts before September 10. Relevant token contracts, snapshot calculations, and airdrop scripts will be made public for auditing. The project also plans to launch a one-time compensation program totaling $1.372 million, available to validators and their delegates who shut down nodes on schedule, sign the agreement, retain staked assets, and continue serving as governors, with payments distributed over four quarters. The total supply and issuance rate of ONE will stay unchanged; future minted tokens will be allocated to new AI video projects, subject to feedback from governors.
6 minutes ago
A prominent crypto trader forecasts Bitcoin will trade in a range, and favors buying on a dip.
Well-known trader Killa stated in a post that BTC typically enters a consolidation phase after every sharp rally or pullback. Having experienced a strong rally, he forecasts the market will move into a range-bound period next. With the current trend having turned bullish, he leans toward going long on dips. He stressed that this does not rule out shorting at the highs of the consolidation range, but such trades are counter-trend operations and require corresponding adjustments to position sizes.
6 minutes ago
U.S. Special Envoy Concludes Negotiations with Zelenskyy
Ukrainian President Volodymyr Zelenskyy announced that the first meeting between Ukrainian and U.S. negotiators has concluded. U.S. Special Envoy Steve Witkoff said he was encouraged by the substantive, meaningful discussions. Jared Kushner, son-in-law of former U.S. President Donald Trump, stated that the U.S. team expects to achieve more progress. (Jin10)
6 minutes ago
Arbitrum and Solana co-founders once again debate transaction costs: Steven emphasizes MEV protection, while Toly questions transaction fees and spreads.
Arbitrum co-founder Steven Goldfeder and Solana co-founder Toly have engaged in a debate over on-chain transaction fees, MEV protection, and the single sequencer model. Steven argued that surface-level fees alone should not be compared, noting that Arbitrum One and Robinhood Chain proactively prevent front-running and most malicious MEV, while some chains claiming lower fees carry higher MEV costs—including front-running targeting retail users. He stated he would rather pay clear, upfront fees than incur hidden losses from front-running, sandwich attacks, and other issues just to secure lower fees. Toly countered that Arbitrum currently has worse bid-ask spreads and higher fees. He explained that the 10% cut it takes from fees, when converted to basis points, already exceeds the sandwich attack loss rate—estimated to be roughly 10 times that rate—without even accounting for spread impacts. He emphasized: “A single sequencer that prioritizes maximizing shareholder value will never outcompete permissionless competition.”
6 minutes ago
WOO X exposed for abnormal withdrawals, multiple users report their withdrawals stuck in 'pending' or 'processing' status.
On-chain detective ZachXBT has issued a community alert, reporting that over the past three days, multiple verified WOO X users have complained their withdrawals remain stuck in "pending" or "processing" status. As of the time of his post, WOO X has not released a statement on the matter. WOO X was incubated by Kronos Research and acquired by FusionX Digital in the fourth quarter of 2025. ZachXBT pointed out that FusionX Digital is reportedly linked to BitMart founder Sheldon Xia. ZachXBT also noted that BitMart announced on July 26, 2026, it would cease operations and restructure, leaving users unable to access millions of dollars in trapped funds, with complaints rising steadily on the X platform. Sheldon Xia only issued a vague statement asserting user assets are secure, but these claims have not been independently verified.
6 minutes ago
ZEC分红Meme代币ZCAT市值短时突破1.19亿美元续创新高，24小时涨超353%
According to GMGN market data, the ZEC-themed airdrop meme token ZCAT (Anonymous Cat) on the Solana blockchain briefly surpassed $119 million in market capitalization, hitting a new all-time high, and is currently trading at $110 million. The token has rallied over 353% in the past 24 hours, with a 24-hour trading volume of $10.9 million. ZCAT is a cat-themed meme token built on Solana, inspired by Zcash’s (ZEC) privacy concept, featuring an anonymous cat mascot wearing a brown paper bag over its head. It levies a ~3% transaction and transfer tax to purchase bridged Zcash (ZEC) on Solana, which is then airdropped to holders. BlockBeats reminds users that most meme coins lack real utility, are highly volatile, and investors should exercise caution.
For the first time since December 2024, the total open interest in altcoin perpetual futures has eclipsed Bitcoin’s. The crossover, tracked by Coinalyze data, marks a notable structural shift in how traders are positioning themselves across crypto markets.
Open interest measures the total number of outstanding derivative contracts that haven’t been settled.
What the numbers look like The market capitalization of altcoins outside the top ten has climbed above $200 billion, representing a gain of more than 10% since the start of September.
Bitcoin continues trading above $80,000.
Advertisement
One standout example: ZEC’s open interest surged to a record $2.4 billion in early September, with $34 million in short liquidations triggered as its price pushed past $1,000.
The historical pattern traders should remember Analysts have observed that liquidation events tend to accelerate when aggregate OI approaches roughly 4.42% of total market capitalization. At that threshold, the amount of leveraged exposure relative to the underlying market value becomes fragile enough that a sudden move can unwind positions rapidly.
Noted trader Ted has commented on the potential for altcoin outperformance during this phase, while also flagging the elevated risk profile.
The last time altcoin OI exceeded Bitcoin’s, in December 2024, the crossover was followed by a period of sharp corrections in several mid-cap tokens, even as Bitcoin itself held relatively steady.
Why this time feels different, and why it might not be The growth in altcoin market cap outside the top ten also suggests this isn’t purely a derivatives-driven phenomenon. Spot buying appears to be participating alongside futures activity.
The ZEC example is telling. A $2.4 billion OI figure for a single altcoin represents an enormous amount of leveraged exposure. The $34 million in short liquidations that accompanied its price crossing $1,000 was painful for bears, but a reversal at those OI levels could be equally brutal for longs.
What’s worth watching closely is whether the OI-to-market-cap ratio continues climbing toward the levels that historically triggered liquidation cascades.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
12 Bitcoin addresses dormant for over 16 years moved a total of 600 BTC on September 5, worth approximately $48 million. The BTC all originated from mining rewards in March 2010, when Satoshi Nakamoto was still active on the Bitcoin network. Whale Alert stated that the 600 BTC came from mining rewards of 12 Bitcoin blocks, and no connection between these addresses and Satoshi Nakamoto has been found. Earlier, Lookonchain had identified 7 of these miner wallets, which moved 350 BTC after remaining dormant for roughly 16.5 years. Whale Alert also noted that one of the block rewards was transferred several blocks ahead of most other transactions, a pattern consistent with conducting a test transaction before executing the remaining transfers.
Quick Summary Friday’s August CPI reading could influence the Federal Reserve’s decision on a potential September interest rate increase following robust employment figures August employment numbers came in at 162,000 new jobs, significantly exceeding the anticipated 55,000 Oracle delivers quarterly results on Thursday; stock has declined almost 20% year-to-date amid balance sheet worries Diesel fuel reaches unprecedented $5.85 per gallon, fueled by Middle East tensions and ongoing Russia-Ukraine hostilities Apple prepares to launch the iPhone 18 Pro lineup and a foldable device during Wednesday’s presentation Market participants are preparing for an action-packed week dominated by critical inflation metrics, significant corporate earnings announcements, and escalating energy expenses that could influence trading activity.
The headline event arrives Friday with the release of August’s Consumer Price Index figures. Following last month’s employment surge of 162,000 positions—far surpassing the projected 55,000—market watchers are questioning whether inflation trends will prompt the Federal Reserve to implement a rate increase in September.
Under Chairman Kevin Warsh’s leadership, the Fed has maintained its commitment to price stability. Inflation metrics have persistently exceeded the central bank’s 2% benchmark for approximately five years.
“Price stability is not self-executing, nor is inflation necessarily mean-reverting,” Warsh said. “It is the Fed’s job to deliver stable prices.”
Market expectations for a September rate adjustment stand at approximately even odds entering the week. Thursday’s Producer Price Index release will provide preliminary insights ahead of Friday’s consumer inflation data.
Source: Forex Factory Oracle Earnings Under the Microscope The corporate calendar’s marquee event Thursday features Oracle’s quarterly earnings announcement. The technology giant’s stock has tumbled nearly 20% in 2025 and approximately 30% over the trailing twelve months. Investor anxiety centers primarily on the substantial debt Oracle has accumulated to finance its aggressive data center expansion strategy.
Despite recent headwinds, Bank of America analyst Tal Liani maintains an optimistic outlook entering the earnings release. His projections include 25% sequential growth and 116% year-over-year expansion in infrastructure-as-a-service revenue. He anticipates Cloud SaaS revenue advancing roughly 12.8% for the reporting period.
“We favor the risk/reward of Oracle,” Liani wrote, noting that Wall Street may not be fully pricing in the company’s revenue growth potential tied to data center milestones.
Adobe is also scheduled to report Thursday, its first earnings since a recent leadership transition. Macy’s announces results the same day, offering insights into current consumer spending patterns.
Diesel Hits a Record High American diesel prices climbed to an unprecedented $5.85 per gallon on Friday, surpassing the prior peak of $5.816 established in June 2022. Ongoing Iranian conflicts have disrupted refined petroleum product shipments from the Persian Gulf region, while Ukrainian strikes targeting Russian refining facilities have diminished output from a major global diesel supplier.
Domestic distillate inventories have fallen to historically low levels for this period, with East Coast reserves at unprecedented lows. This supply crunch arrives as northeastern states approach the winter heating demand season.
“Record diesel will start funneling down into the economy,” said Patrick de Haan of GasBuddy.
Apple conducts its annual product showcase Wednesday, where analysts expect the company to introduce the iPhone 18 Pro, Pro Max, and a foldable iPhone model. The event marks the first major product debut under newly appointed CEO John Ternus.
Additional retail earnings from Casey’s General Stores, American Eagle Outfitters, and Kroger will complete the week’s corporate reporting schedule.
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.
Factor LLC CEO Peter Brandt has brought back to the spotlight his iconic logarithmic chart from June 2019, indicating that the structure of Bitcoin's fourth parabolic phase remains valid.
The return of the archived forecast coincided with the cryptocurrency's push through $80,000 and a test of strong resistance at $82,000. According to analysts, the Wall Street veteran's repost directly indicates that the asset's multi-year bullish trend remains intact.
You Might Also Like
HOT Stories
In the original post from June 2019, when Bitcoin was trading at only around $10,000, Brandt predicted a target of $100,000. Based on Factor LLC's charts, the analyst with 45 years of experience showed that no traditional asset — including Apple, Amazon, Netflix and gold — could replicate the cryptocurrency's cyclical performance.
Bitcoin weekly log chart showcasing historical parabolic advances and trend channels, Source: Peter Brandt via TradingViewHistorical data recorded gains of 20x, 489x, 42x and 93x in Bitcoin's previous cycles, respectively.
Driven by institutions, not retail: why Bitcoin's 2019 parabolic model still works in 2026.In September 2026, the chart returned to the spotlight because of the structure of BTC's price action. The weekly logarithmic chart shows that the current price is compressed near the lower boundary of the historic ascending channel, repeating a phase of broad accumulation.
Institutional support is the clearest difference between the current phase and the market conditions of 2019. Seven years ago, the parabola was fueled purely by speculation and retail investor sentiment.
You Might Also Like
Today, the channel's stability is supported by major funds and systematic capital inflows through spot ETFs. Because of its enormous market capitalization, Bitcoin will struggle to deliver its previous 100x returns — the effect of diminishing returns — but the logarithmic trajectory itself remains unchanged.
Brandt's model remains a key benchmark for the market, confirming that the parabolic scenario remains valid as long as the critical support lines hold.
The path to new highs will not be linear. However, as long as the lower boundary of the trend holds, Bitcoin will continue to play its own game — one that simply has no equivalent in the history of global finance.
Well-known trader Killa stated in a post that BTC typically enters a consolidation phase after every sharp rally or pullback. Having experienced a strong rally, he forecasts the market will move into a range-bound period next. With the current trend having turned bullish, he leans toward going long on dips. He stressed that this does not rule out shorting at the highs of the consolidation range, but such trades are counter-trend operations and require corresponding adjustments to position sizes.
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.
The U.S. Treasury Department will enter the active phase of its government debt buyback program on Monday, Sept. 7, 2026. The weekly limit on operations will amount to $14.5 billion, while the maximum volume of Treasury sessions could reach $16.5 billion.
Such a large liquidity injection has sparked discussion across financial markets about the start of a second round of the crypto market's rally, particularly for Bitcoin and XRP.
You Might Also Like
HOT Stories
The bulk of the operations is scheduled for Wednesday, Sept. 9. The Treasury, led by Secretary Scott Bessent, is doubling its buyback limits for long-term securities maturing in 10 to 30 years — from $2 billion to $4 billion per session.
Tentative schedule of U.S. Treasury buyback operations for September 2026, Source: U.S. Department of the TreasuryIn total, the department plans to remove approximately $38.25 billion worth of bonds from the market in September, while the U.S. Federal Reserve will simultaneously allocate up to $2.122 billion to purchases of short-term Treasury bills as part of its planned reinvestment of principal.
While Bessent stabilizes yields, Bitcoin at $80,000 awaits a spark from primary dealersAs officials describe the multibillion-dollar injections as "routine," the cryptocurrency market is approaching Sept. 9 in a state of extreme technical tension. Traders expect the cash that the Treasury will provide to major banks in exchange for older bonds to fuel a breakout from prolonged trading ranges.
At the beginning of September, Bitcoin is trading just below the psychological $80,000 level, having formed a massive liquidity cluster and dense concentrations of short-liquidation levels between $79,500 and $82,000.
In this environment, any impulse from primary dealers on Wednesday could trigger the forced closure of short positions and immediately push the price toward new local highs through a short squeeze.
Comparative daily price charts of XRP/USD and BTC/USD showing consolidation patterns in September 2026, Source: TradingViewMeanwhile, capital is accumulating in XRP as the token approaches $1.45 amid record institutional inflows. U.S. spot XRP ETFs have recorded net inflows exceeding $1.66 billion.
The Treasury's liquidity injection coincides with the main fundamental catalyst of the fall: on Sept. 15, the U.S. Senate will hold a key vote on the CLARITY Act. Traders are pricing in a scenario in which fresh dollars entering the system help XRP break through the key resistance level at $1.70 and open a direct path toward the psychological $2 mark.
You Might Also Like
Market analysts warn against equating the Treasury's current program with full-scale quantitative easing. The Treasury is not creating new money out of thin air but merely replacing long-term obligations with short-term borrowing to stabilize the government bond market, where yields remain near multiyear highs.
There is also a medium-term risk: if Bessent's buybacks overstimulate the economy, the Federal Reserve could be forced to keep interest rates higher for longer, eventually limiting the cryptocurrency market's growth potential.
Nevertheless, short-term market expectations remain focused on the actual liquidity inflow on Sept. 9. The reaction of Bitcoin and XRP prices to this impulse will become a defining factor for the market's direction throughout the fall of 2026.
The US Treasury Department is set to begin the active phase of its government debt buyback program on Monday, September 7, 2026. The department said weekly limits for the operations are set at $14.5 billion, with the overall maximum per Treasury session reaching $16.5 billion.
Scale of buybacks and liquidity injectionMost of the buyback activity is scheduled for Wednesday, September 9. Under Treasury Secretary Scott Bessent, the department will double buyback limits on long-term securities maturing in 10 to 30 years per session, raising the figure from $2 billion to $4 billion.
In total, the Treasury aims to remove approximately $38.25 billion in bonds from the market throughout September. Simultaneously, the US Federal Reserve is preparing to allocate up to $2.122 billion for purchases of short-term Treasury bills through reinvestment of principal.
These actions represent a significant liquidity injection, prompting debate within financial markets about whether they could act as a catalyst for renewed momentum in the cryptocurrency sector, particularly for Bitcoin and XRP.
Bitcoin and XRP traders await market breakoutLeading up to the scheduled buybacks, Bitcoin traded just below the $80,000 level in early September. Analysts identified a large liquidity cluster between $79,500 and $82,000, marked by heightened short-liquidation levels.
Several traders expect that if Wednesday’s buybacks provide fresh liquidity to primary dealers, this could spark a breakout above recent trading ranges. In this scenario, a squeeze on short positions could drive Bitcoin to new local highs.
Bitcoin hovers below the key $80,000 threshold, with technical indicators suggesting that increased liquidity on September 9 could swiftly push prices higher through forced short covering.
XRP is also drawing market attention, as the token nears $1.45 and registers record inflows from institutional investors. US spot XRP exchange-traded funds (ETFs) have seen net inflows above $1.66 billion, highlighting elevated demand ahead of upcoming events.
Legislative and macroeconomic factorsThe Treasury’s liquidity boost aligns with another pivotal moment for the crypto sector: On September 15, the US Senate is due to vote on the CLARITY Act. Market participants anticipate that dollar inflows from the buybacks could help XRP breach significant resistance at $1.70, which may open the way for a move toward the $2 psychological level.
Despite optimism in the crypto market, analysts have cautioned against confusing the Treasury’s current buyback program with full-scale quantitative easing. The department is not expanding the money supply but shifting from long-term obligations to short-term debt to stabilize government bonds, where yields recently tested multiyear highs.
There are also concerns about potential medium-term consequences. Some analysts noted that if the buybacks inject too much liquidity and stimulate economic demand, the Federal Reserve could be compelled to maintain higher interest rates for a longer period, which may curb the growth prospects of cryptocurrencies.
Nevertheless, for now, market focus remains on the September 9 liquidity injections. The performance of Bitcoin and XRP after this key event is expected to set the tone for the cryptocurrency market as it heads into the last quarter of 2026.
Mini dictionary: Scott Bessent is the current Secretary of the US Treasury Department, responsible for overseeing federal finances and implementing economic policies, including debt management operations such as large-scale bond buybacks.
ActionDateTarget VolumeNotesDebt Buyback Program LaunchSeptember 7, 2026$14.5 billion per weekProgram beginsMain Buyback SessionsSeptember 9, 2026Up to $16.5 billionLong-term bonds focusUS Fed Treasury Bill PurchasesThroughout SeptemberUp to $2.122 billionShort-term instrumentsXRP ETF Net InflowsRecent period$1.66 billion+Record institutional demandDisclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Kalshi has just reached a milestone. The predictive markets platform recorded 15.4 million visits from the United States in July 2026, compared to barely 1 million a year earlier. That’s an increase of 1,520%, according to Similarweb data consulted by Cointelegraph on Friday. Trading volume is rising at an even faster pace. Approximately 40 billion dollars in notional monthly volume in August, compared to 874 million a year before. But the information that really changes the game is elsewhere. Kalshi has just launched crypto perpetual contracts, including BTC, ETH, BNB and 14 other assets, with up to 6x leverage. A pivot that complicates an already heavy regulatory file.
In brief Kalshi now captures most of the growth in the predictive markets sector, driven by sports contracts. The platform is playing its regulatory survival before the Supreme Court on the exact nature of its contracts. In the midst of a legal battle, Kalshi chooses to open a second front by launching leveraged crypto perpetuals. Kalshi: Vertigo-Inducing Traffic and Volumes The numbers speak for themselves. US traffic represented nearly 80% of Kalshi’s total in July, compared to 72.8% a year earlier. Growth remains massively concentrated on the American market. Sports contracts, meanwhile, account for 83% of July’s trading volume, reported Barron’s on Thursday. In terms of volume, the entire predictive markets industry has grown from 2 to 50.7 billion dollars monthly over the period, with Kalshi capturing nearly 79% of the total alone. So Kalshi hasn’t just grown, it has absorbed the entire market.
The notable fact here is that traffic is also increasing from jurisdictions where Kalshi is not allowed to operate directly:
Canada increased from 50,000 to 450,000 visits; The United Kingdom from 31,000 to 296,000, while the platform’s user agreement still prohibits direct access from these two countries. Kalshi circumvented the issue in June through a partnership with Wealthsimple, which gives access to about 4,000 eligible contracts via a separate app. Clever, but it doesn’t erase the fundamental question. Who accesses what, and under what authorization?
A Court Case that Has Reached the Supreme Court While traffic explodes, the courts are active. New Jersey has brought before the US Supreme Court the question of whether Kalshi’s sports contracts fall under federal supervision (thus the CFTC) or state gambling laws specific to each state. Michigan is pursuing its own efforts to block the platform. The issue is not cosmetic because if sports contracts are reclassified as bets under state jurisdiction, a significant part of Kalshi’s model, 83% of the volume, becomes fragile in its main markets.
Kalshi is playing a double-edged sword here. On the one hand, it claims federal status as an event contract market, regulated by the CFTC for years. On the other hand, the bigger the platform grows, the more it attracts state regulators’ attention, who see in this success proof that Kalshi is effectively disguised sports betting.
The Crypto Shift that Incorporates a Regulator And now Kalshi adds another layer. On September 4, the Kalshi Crypto account announced on X the launch of perpetuals on BNB, complementing an offering that already covers BTC, ETH, LINK and 14 other cryptos, with leverage up to 6x for eligible American traders. An extension confirmed the same day by a post relaying the announcement on the network. The platform is also pushing, according to the same publications, towards tokenized stocks and gold.
To say it frankly, the timing is bold because Kalshi is already fighting before the Supreme Court to prove that it is not a disguised bookmaker. And it chooses this precise moment to launch 6x leverage on cryptos, a territory that clearly falls under the CFTC’s eye for classical derivatives. Instead of simplifying its regulatory file, Kalshi has opened a second front. This time on leveraged crypto derivatives, while the first, sports contracts vs. gambling, is not even resolved yet.
Three Things About Kalshi to Keep in Mind US traffic up +1,520% in one year, 15.4 million visits in July, compared to less than 1 million in August 2025 Kalshi is about 40 billion dollars, driven to 83% by sports contracts, while litigation over their status rises to the Supreme Court New regulatory front opened at the beginning of September: launch of crypto perpetuals (BTC, ETH, BNB, LINK + 14 assets) up to 6x leverage Kalshi is therefore growing faster than its regulatory base can keep up. Between the Supreme Court and the CFTC, two fronts are opening at the same time: sports and crypto. The question is no longer whether a regulator will decide, but which one will tackle it first.
Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
Join the program
A
A
Lien copié
Eddy S.
The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
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.
Bitcoin price traded near $79,972 after gaining 0.43% over 24 hours, keeping the $85,000 test within reach.
The crypto market was up 0.98%, with its capitalization at 2.72 trillion and the demand bolstering risk appetite. Solana led major altcoins, rising 4.07% to $106.57, while Ethereum advanced 2.02% to $2,502.82.
XRP price climbed 1.23% to $1.42, and BNB gained 0.60% to $757.21. The Fear and Greed Index of CoinMarketCap was 75, which is in the realm of greed.
Here’s What Could Influence BTC to Rally Above $85K There are a number of catalysts that may define whether Bitcoin transforms its recovery to an enhancement beyond $85,000. Further strength of the altcoins would indicate that the investors are still comfortable to take risks in the cryptocurrency market.
The Crypto Fear and Greed Index is 75, indicating that there is a high degree of greed and investor confidence in the overall market.
Source: CMC data An anticipated September 15 CLARITY Act cloture vote in the Senate is a catalyst. The advancement would help build trust by taking the clear digital asset management one step closer to the reality.
The bill would separate regulators between the Securities and Exchange Commission and Commodity Futures Trading Commission. Lack of progress of the proposal may undermine momentum and push back hopes of thorough American cryptocurrency regulations.
The monetary policy can bring volatility. The Federal Open Market Committee is holding on September 15 and 16, where economic projections are anticipated.
Kalshi traders placed a 77% probability on Bitcoin price crossing $85,000 before October 2. Reaching that level would require roughly 6.3% growth from the price.
Source: Kalshi data
Bitcoin ETF Inflows Reinforce Institutional Demand On September 4, United States spot Bitcoin ETFs registered net inflows of 175 million, the third straight positive session. The IBIT in BlackRock and Fidelity had attracted respectively, 117 million and 57.22 million.
Spot Ethereum ETFs gained 26.46 million, which indicated that the institutional demand was not limited to Bitcoin. The ETHA and ETF of BlackRock raised the sums of 57.79 million and 16.44 million, respectively.
Spot Bitcoin ETFs Take In $175M; Ethereum ETFs Record $26.46M Inflow
According to SoSoValue, U.S. spot Bitcoin ETFs recorded $175 million in net inflows on September 4 (ET), marking their third consecutive day of inflows. BlackRock’s IBIT led with $117 million, followed by… pic.twitter.com/dNOGJAVUw5
— Wu Blockchain (@WuBlockchain) September 5, 2026
Those gains counterbalanced the Fidelity FETH, which recorded 48.30 million net withdrawals. The continued inflows of Bitcoin ETFs may take up available supply and allow another challenge around $82,000.
Bitcoin Price Prediction: Key Levels To Watch Bitcoin price remains above the $79,500 support after sellers rejected its advance near $82,000. The level that used to limit gains was key in the short-term bullish formation.
The four-hour RSI of Bitcoin is 55.20, which means that the momentum is neutral and moderate buying activity.
The MACD line is at 327.50, which is below the 393.86 signal line, and the histogram indicates minus 66.35. This bearish formation indicates that there is a deterioration in the short-term momentum, but both MACD lines are above zero.
Source: TradingView Further gains above $79,500 would save another effort of $82,000 as per the future Bitcoin outlook. An upsurge of more than $82,000 would then open the gates to momentum of up to $85,000.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bitcoin has begun moving in closer alignment with gold as both assets attract interest from investors seeking protection against fiscal and currency risks. The latest data shows the 90-day correlation between Bitcoin and gold climbed to +0.50, more than double its level at the start of 2026.
Bitcoin strengthens ties with goldAccording to analysis by the Kobeissi Letter, Bitcoin’s 90-day correlation with gold now stands at +0.50. This nearly matches the peak reached during the early months of the COVID-19 pandemic in 2020, when global markets faced extreme uncertainty. The Kobeissi Letter is a financial newsletter known for macroeconomic and market analysis.
Bitcoin and gold are increasingly moving together, with their 90-day correlation now at +0.50—almost matching the all-time high reached during the 2020 pandemic. This level has more than doubled since the beginning of the year.
The increase in correlation has accelerated in recent months. Following a recovery from the 2022 bear market, the same 90-day correlation between Bitcoin and gold peaked at only +0.30. Fresh figures from Bitwise and Bloomberg also placed the correlation at +0.50 through August 31, reinforcing the view that the two assets exhibit heightened co-movement.
The US Treasury’s recent move to double the size of its long-dated debt buyback operations has contributed to this trend. On August 19, the Treasury announced an increase in regular buybacks from $2 billion to at least $4 billion each, reflecting a shift in policy that has echoed across financial markets.
Mini dictionary: US Treasury debt buybacks, a mechanism by which the US government repurchases its own long-term bonds from the market to manage overall debt maturity or market liquidity.
Asset Pair90-day Correlation (Start 2026)90-day Correlation (Aug 31, 2026)All-time HighBitcoin & GoldBelow +0.25+0.50+0.50 (2020, 2026)Bitcoin & Nasdaq 100Above 0.450.30—While Bitcoin’s association with gold has intensified, its relationship with tech stocks, specifically the Nasdaq 100, has weakened. The Kobeissi Letter reported that the 90-day correlation between Bitcoin and the Nasdaq 100 has dropped to approximately 0.30, marking the lowest reading in a year.
This divergence underscores a shift in market behavior, as Bitcoin decouples from the performance of leading US technology companies. Analysts suggest this change has redirected attention to Bitcoin’s role alongside gold as a scarce asset under macroeconomic stress.
Investors are turning to Bitcoin and gold as potential hedges against currency debasement, especially as US national debt approaches $40 trillion and concerns about fiscal sustainability rise.
Simultaneously, gold continues to see strong demand among central banks amid geopolitical and financial instability. The Netherlands recently transferred 86 tonnes of gold to London, an indication of active management of their national reserves.
Crypto market analyst Crypto Tice suggested that the recent pause in gold’s gains could drive more capital into Bitcoin. The observation refers to earlier patterns when investors reallocated profits from gold to Bitcoin after the yellow metal reached new peaks.
Gold and Bitcoin trade near record highsCurrently, gold is trading close to $4,430 per ounce, while Bitcoin remains around $81,000. The ongoing convergence in price action highlights how both assets now exhibit a much tighter price relationship compared to earlier periods this year.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
