U.S. congressman French Hill expressed the importance of bipartisan support to get the long-awaited crypto market structure bill, the Clarity Act, over the line before the midterms.
The lawmaker told Fox Business Thursday that Democrats and Republicans have come to “narrow their differences in getting the bill drafted.
Pro-crypto lawmakers were hoping the Clarity Act passed before Congress departed for August recess. After a delay, a vote will now go ahead on September 15.
WATCH: Chairman @RepFrenchHill on the importance of passing the Clarity Act:
"…we passed the CLARITY Act in the House last summer with 78 Democratic votes. It is time for the Senate to join us and pass the CLARITY Act. Members on both sides of the aisle in the Senate have… pic.twitter.com/GMva1XOTDK
— Financial Services GOP (@FinancialCmte) September 3, 2026 “Can Democrats work with Republicans and make sure America leads the world in distributed ledger technology and financial services?” Hill said.
“This one remaining significant issue is the ethics provision, and that is best solved by passing the legislation because everybody — no matter what family they belong to, the Trumps or not — would then be under a regulatory framework fully scrutinized by the United States government in commodity and securities and banking regulators,” he added.
The Clarity Act was first introduced by Hill, the House Financial Services Chairman, last year.
Crypto companies have long called for clear regulations for the industry. The Clarity Act drafts a framework to formally divide oversight between regulators, distinguishing which digital assets are securities, commodities or stablecoins.
The House of Representatives passed the bill last July but it has been stalled this year, mostly because the banking lobby clashed with crypto companies over paying customers stablecoin yield.
A new draft tackling the issue of ethics started circulating in July. It bans government officials from promoting or making money from crypto — something Democrats have criticized the Trump family for doing.
A group of Democrats said the bill fell short and wanted amendments. Some were accused of deliberately holding it back by Republicans like Cynthia Lummis.
Some have praised the bipartisan work that has already gone into the bill, namely Coinbase, America’s biggest crypto exchange. The company’s Chief Policy Officer, Faryar Shirzad, said in July that while some Democratic lawmakers were holding back the long-awaited legislation, younger Democrats wanted to pass it.
President Donald Trump in August said that in order for the U.S. to remain the “undisputed leader in Bitcoin and crypto,” lawmakers had to pass the “very, very powerful legislation.”
Mathew Di Salvo
Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.
Bitcoin has suddenly rocketed higher, building on its mid-August pump to come with touching distance of $82,000 per bitcoin as traders brace for a “panic” price shock.
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The bitcoin price, which has languished at around 50% of its October 2025 peak of $126,000 for most of this year, has broken out amid fears the U.S. dollar is on the verge of “death spiral.”
Now, as U.S. Treasury secretary Scott Bessent could be about to make a historic intervention in global markets, traders are betting U.S. money printing is about to catapult the bitcoin price higher.
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ForbesElon Musk’s $40 Trillion Nightmare Is Suddenly Coming True As The Bitcoin Price SoarsBy Billy Bambrough
U.S. Treasury secretary Scott Bessent speaks with US Federal Reserve chair Kevin Warsh ahead of a bitcoin price surge.
AFP via Getty Images
“This is what bitcoin and crypto is made for, right? It’s liquidity expansion,” Arthur Hayes, a cofounder of the bitcoin and crypto derivatives pioneer BitMex who now runs the Maelstrom Fund, told the podcaster Kyle Chasse.
“I think we’re going to have more money printing in the 2028 to 2030 time period than we had in the 2009 to 2011,” Hayes said, adding that “magnitude of amount of credit that’s coming will dwarf the subprime crisis.”
Hayes, who expects the Federal Reserve to “print early, print often, print big” in response to the artificial intelligence revolution stalling, predicted the bitcoin price could rocket 10-times to around a $1 million bitcoin price before 2030 as “trillions” of dollars hit the market.
Bitcoin’s price rally to near-$82,000 comes as traders dial back expectations of a Federal Reserve interest rate hike in September after Federal Reserve governor Christopher Waller said he’d be “inclined to support” holding rates steady barring any surprises in upcoming inflation data.
Traders had priced the likelihood of a Fed interest rate hike as high as 70% earlier this week, though they are now split 50/50 on whether policy makers will hold or hike rates at the September 16 meeting.
Meanwhile, Treasury secretary Bessent’s surprise promise of bond market support, designed to lower the cost of borrowing, sent shockwaves through the market last month and reignited the so-called debasement trade that powered gold and bitcoin to all-time highs last year.
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Forbes‘Get Ready’—Bitcoin Is Suddenly Hurtling Toward A ‘Huge’ Money Printing Price ShockBy Billy Bambrough
The bitcoin price has rocketed higher in recent weeks, triggering a wave of bullish bitcoin price predictions.
Forbes Digital Assets
“What we’re seeing now with bitcoin, gold and other assets is consistent with the debasement trade in action,” Richard Green, head of institutional at bitcoin developer RootstockLabs, said in emailed comments.
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“Yes, yields have been elevated and, yes, the rising debt burden is driving this. But the market knows this. More specifically, the market increasingly expects policymakers to intervene if financial conditions become sufficiently strained. Because of this, the closer those conditions get to crisis levels, the more investors allocate capital towards assets, particularly hard assets.”
Earlier this week, analysts with the brokerage Bernstein predicted the spiraling, $40 trillion U.S. debt pile and ongoing inflation could send the bitcoin price to $300,000 by 2029.
“Following our price-to-marginal cost framework, we would expect the next market peak to be $300,000 by 2029 and the market recovering to [a] new all-time high of $150,000 by mid-2027,” analyst Gautam Chhugani wrote in a note seen by CNBC.
Bitcoin prices rallied on Thursday, September 3, breaking through the $80,000 level and registering notable gains.
The world’s most prominent digital currency climbed to $81,812.31, according to Coinbase data from TradingView. At this point, it was up more than 6.3% after falling to $76,929.29 earlier in the day.
When asked to explain the latest price movements, several analysts highlighted comments made by Federal Reserve Governor Christopher Waller, who stated that he would be “inclined” to keep benchmark rates steady later this month when central bank policy policymakers convene, according to The Financial Times.
“While inflation remains meaningfully above the Federal Open Market Committee’s (FOMC) 2 percent goal, recent data suggest we are finally seeing some signs of disinflation,” he stated. “If this continues in the data due over the next two weeks, I would be inclined to support holding the target for the federal funds rate at its current setting."
Following this development, Treasury yields fell and the U.S. dollar declined relative to other currencies, according to The Financial Times.
Ryan Myher, COO of Genius Terminal, commented on these developments.
“Bitcoin moved sharply higher on Thursday after Federal Reserve Governor Chris Waller said he could support leaving interest rates unchanged at next month’s meeting if incoming inflation data continues to move in the right direction,” he stated via email.
“The comments reassured investors that the Fed may not need to tighten monetary policy further, prompting markets to quickly scale back expectations of a September rate hike,” noted Myher. “That shift weakened the US dollar and pushed Treasury yields lower, creating a more favourable environment for Bitcoin and other risk assets.”
Erin Gambrel, head of financial services at Corgi, offered a similar take.
“This was largely a macro-driven move,” he stated through emailed commentary. “A lot of today’s move comes back to interest rates.”
“Waller’s comments helped ease fears of another Fed hike, Treasury yields fell, and the dollar weakened,” said Gambrel. “All of that gave investors more reason to buy Bitcoin.”
William Stern, founder of Cardiff, also spoke to macro factors.
“I think the actual drivers are pretty mundane by crypto standards; a dovish Fed signal that crushed rate hike bets and the 10 year yield easing off," he said through emailed input.
“Something to pay attention to is that MicroStrategy reportedly got back in the water and reportedly resumed a $370M buying spree,” added Stern. “All in all, great signals.”
Going forward, Paul Howard, senior director at Wincent, offered a bullish outlook.
“Bitcoin breaking the $80k wall, fuelled by $100m of ETF inflows and OTC activity was enough to banish the bears ahead of US economic data,” he noted via email.
“The risk of follow through activity is now subject to what happens with the upcoming CLARITY Act; however, looking at on-chain data, including a memecoin revival on the RobinHood chain the foundations look in place for what many including myself have expected: a steady ascent back to $100k before year-end.”
Bitcoin prices rallied on Thursday, September 3, breaking through the $80,000 level and registering notable gains.
The world’s most prominent digital currency climbed to $81,812.31, according to Coinbase data from TradingView. At this point, it was up more than 6.3% after falling to $76,929.29 earlier in the day.
When asked to explain the latest price movements, several analysts highlighted comments made by Federal Reserve Governor Christopher Waller, who stated that he would be “inclined” to keep benchmark rates steady later this month when central bank policy policymakers convene, according to The Financial Times.
“While inflation remains meaningfully above the Federal Open Market Committee’s (FOMC) 2 percent goal, recent data suggest we are finally seeing some signs of disinflation,” he stated. “If this continues in the data due over the next two weeks, I would be inclined to support holding the target for the federal funds rate at its current setting."
Following this development, Treasury yields fell and the U.S. dollar declined relative to other currencies, according to The Financial Times.
Ryan Myher, COO of Genius Terminal, commented on these developments.
“Bitcoin moved sharply higher on Thursday after Federal Reserve Governor Chris Waller said he could support leaving interest rates unchanged at next month’s meeting if incoming inflation data continues to move in the right direction,” he stated via email.
“The comments reassured investors that the Fed may not need to tighten monetary policy further, prompting markets to quickly scale back expectations of a September rate hike,” noted Myher. “That shift weakened the US dollar and pushed Treasury yields lower, creating a more favourable environment for Bitcoin and other risk assets.”
Erin Gambrel, head of financial services at Corgi, offered a similar take.
“This was largely a macro-driven move,” he stated through emailed commentary. “A lot of today’s move comes back to interest rates.”
“Waller’s comments helped ease fears of another Fed hike, Treasury yields fell, and the dollar weakened,” said Gambrel. “All of that gave investors more reason to buy Bitcoin.”
William Stern, founder of Cardiff, also spoke to macro factors.
“I think the actual drivers are pretty mundane by crypto standards; a dovish Fed signal that crushed rate hike bets and the 10 year yield easing off," he said through emailed input.
“Something to pay attention to is that MicroStrategy reportedly got back in the water and reportedly resumed a $370M buying spree,” added Stern. “All in all, great signals.”
Going forward, Paul Howard, senior director at Wincent, offered a bullish outlook.
“Bitcoin breaking the $80k wall, fuelled by $100m of ETF inflows and OTC activity was enough to banish the bears ahead of US economic data,” he noted via email.
“The risk of follow through activity is now subject to what happens with the upcoming CLARITY Act; however, looking at on-chain data, including a memecoin revival on the RobinHood chain the foundations look in place for what many including myself have expected: a steady ascent back to $100k before year-end.”
Cryptocurrency analyst Benjamin Cowen on Wednesday argued that unlike commonly assumed, Bitcoin (CRYPTO: BTC) does not rise with M2 money supply, which explains weakness against equities.
Global Net Liquidity Explains Bitcoin’s Five-Year LagCowen detailed on his podcast how rising M2 does not guarantee Bitcoin rallying.
M2 measures cash and readily available deposits across the financial system. It reached record highs in 2014, 2018 and 2022, yet Bitcoin still suffered major declines during those years.
The metric Cowen tracks instead is global net liquidity, which combines the balance sheets of major central banks including the Federal Reserve, ECB, and the central banks of Japan, China, and the UK, then subtracts money parked in the Fed’s reverse repo facility and the U.S. Treasury General Account.
That number currently sits around $25 trillion, well below the $30 trillion peak in 2021 and 2022, leaving a $5 trillion gap that Cowen argued fully explains why Bitcoin has lagged equities despite M2 continuing to climb.
Why Cowen Sees 2019 as the Closest Market ParallelCowen drew a direct parallel to 2019, when M2 rose, stocks hit all-time highs, and Bitcoin still dropped because global net liquidity was not expanding.
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Bitcoin only reversed when the pandemic forced central banks to flood the system with real liquidity.
The current cycle mirrors that setup but on a larger scale, with AI-driven mega-cap strength keeping the S&P 500 (NYSE:SPY) elevated and removing any pressure on central banks to act.
“The reason why Bitcoin has been stuck in traffic on Struggle Street for the last five years is because net liquidity remains low,” Cowen said.
Central Bank Expansion Could End Bitcoin’s UnderperformanceCowen noted that Bitcoin’s shallow drawdown this cycle, far milder than the 75% to 85% crashes of prior bears, actually supports his thesis.
The market topped on apathy rather than euphoria because net liquidity never ran hot enough to fuel a real speculative blowoff.
The trigger for Bitcoin’s next outperformance cycle is straightforward: central banks need a reason to expand balance sheets again. Until that happens, Bitcoin keeps lagging equities.
“The paradox is resolved,” Cowen said. “The answer was always there and it’s been there since 2019.”
Bitcoin has vaulted above its closely monitored 50-week moving average after a period of sustained upward movement, marking a potentially pivotal turn in the digital asset’s trend.
50-week moving average reclaimedBTC surged to an intraday high of $81,797 before trading modestly lower near $81,400 late in the session. This represents a daily advance of over 5% as bulls attempt to maintain momentum toward the $82,000 to $83,000 resistance range.
According to Galaxy Research, “all eyes” have turned to the 50-week moving average, a technical level that gained heightened significance after Bitcoin spent much of the last year trading below it. This moving average historically acts as a barrier during market downturns.
BTC’s ability to close the week above this level could signal the end of the prolonged bearish trend seen in previous cycles, where the weekly close typically remained beneath the 50-week moving average until bear markets concluded.
Earlier, Bitcoin attempted a breakout above the 50-week moving average at the end of August, briefly touching $81,265 on August 25 before facing resistance near $81,085. This time, the move appears more robust, supported by a notable daily candle through the resistance zone, increasing focus on the importance of the coming weekly close.
Derivatives markets reach record levelsHeavy activity in derivatives is accompanying Bitcoin’s price action. Data from CoinGlass indicate that 24-hour futures trading volume has reached approximately $84.74 billion, with open interest rising to around $57.86 billion.
These elevated figures point to significant leverage being deployed in the market, magnifying both potential gains and risks for traders.
Liquidations in Bitcoin positions totaled roughly $229.56 million over the past 24 hours. Short sellers bore the brunt, accounting for $214.81 million of the liquidations, while longs saw $14.74 million in forced exits.
MetricValueBTC intraday high$81,79724h futures volume$84.74 billionOpen interest$57.86 billionTotal liquidations (24h)$229.56 millionShort liquidations (24h)$214.81 millionLong liquidations (24h)$14.74 millionDerivatives markets, which allow traders to take leveraged positions on future price movements, can quickly amplify volatility and lead to rapid liquidations in the face of sharp price swings.
Mini dictionary: CoinGlass is a crypto data analytics platform specializing in derivatives market statistics, including open interest, liquidations, and trading volumes.
Bulls focus on resistance aheadAfter peaking above $124,000 in late 2025 and subsequently entering a multi-month decline, Bitcoin has faced repeated struggles to regain bullish momentum. Technical analysts are closely monitoring price action as the $82,000 to $83,000 zone now serves as the next significant resistance area.
The combination of a weekly close above the 50-week moving average and high leverage in derivatives markets are creating a closely watched environment for both short-term traders and long-term investors.
If Bitcoin can sustain this move and secure a weekly close above the 50-week mark, it could signal a shift in market sentiment and open the door for further upside toward the next technical resistance.
TLDR: Bitcoin-gold correlation hits its highest level since 2020, per Bitwise Asset Management data. Bitcoin surged 22.4% weekly after Treasury Secretary Bessent’s bond market intervention in August. Bitcoin’s correlation with the Nasdaq-100 dropped to a one-year low, weakening its risk-asset label. Gold’s $30 trillion market could reprice bitcoin if the correlation trend with debasement hedging holds. Bitcoin’s correlation with gold just hit a six-year high, according to new research from Bitwise Asset Management. The 90-day rolling correlation between the two assets has climbed to its strongest level since 2020, when pandemic-era stimulus reshaped global markets.
Bitwise says the shift signals a change in how investors view bitcoin, moving it closer to gold’s traditional role as a store of value during periods of macro stress.
Bitwise tracked the relationship using Bloomberg data spanning from April 2015 through August 2026. The current reading matches levels last seen during the Covid-19 stimulus era. That earlier period also involved heavy government intervention in financial markets.
August marked a turning point for this correlation. U.S. Treasury Secretary Scott Bessent stepped into the bond market after yields on 10- and 30-year Treasuries climbed. The move stirred concerns about financial repression and yield curve control.
Bitcoin posted its largest weekly gain since March 2024 following the intervention, rising 22.4%. Gold gained roughly 5% over the same period while equities fell. Bitwise says both assets moved together in a way that stood out statistically.
What’s Driving the Bitcoin-Gold Relationship Bitwise’s official account shared the findings, noting that when macro conditions dominate headlines, investors tend to stop choosing between gold and bitcoin. Instead, many allocators are buying both assets at once.
Bitcoin's correlation with gold just hit a six-year high.
The last time it was this high was 2020, after the Covid stimulus.
When macro dominates, many investors stop choosing between gold and bitcoin.
They buy both.
In this week's CIO memo, @Andre_Dragosch explains why… pic.twitter.com/YHnvXp9KN5
— Bitwise (@Bitwise) September 3, 2026
The firm’s Europe research director, André Dragosch, authored the analysis. He pointed to bitcoin’s declining correlation with the Nasdaq-100, which has dropped to a one-year low. That trend weakens the argument that bitcoin simply tracks tech stock sentiment.
Bitcoin also remains negatively correlated with the U.S. Dollar Index. Bitwise explains that dollar weakness tends to align with bitcoin strength, a pattern gold has exhibited for decades during currency pressure.
Why the Six-Year High Matters for Investors Bitwise cautions that bitcoin and gold remain different assets despite the recent convergence. Gold has served as a store of value for thousands of years, while bitcoin was created less than two decades ago.
Still, the firm argues that rising correlation during stressful macro periods carries weight. Gold’s market is valued near $30 trillion, built by central banks and institutional allocators over generations.
If bitcoin continues moving toward this category, Bitwise suggests it could eventually be priced against a much larger capital base. That would mark a shift from its historical pricing as a venture-style risk asset toward something closer to a macro hedge.
In brief Hyperscale Data stopped Bitcoin mining at its Michigan data center on September 1. The AI agreement could generate more than $1.2 billion over 20 years if the customer exercises both extensions. The company plans to sell its mining servers as it prepares the facility for AI operations. Hyperscale Data shut down Bitcoin mining operations at its Michigan data center on Tuesday to make room for an AI customer whose contract could generate more than $1.2 billion over 20 years, the company said.
In an announcement on Wednesday, Hyperscale said the previously announced deal could generate more than $1.2 billion if the customer exercises both five-year extensions to the initial 10-year term. The agreement covers 20 megawatts of capacity for an unnamed California-based provider of cloud computing services for AI.
Myriad: How high will Nvidia stock go? Click to make your prediction.“The immediate shutdown of the Bitcoin mining operations allows our team to focus the Facility's power, infrastructure and resources in preparing the Facility for its usage by our Customer,” CEO William Horne said in the announcement.
According to Hyperscale, the agreement gives the customer an option to add 32 megawatts within the first two years. The company said exercising that option and both five-year extensions could bring total contract revenue above $3 billion.
“Further, as the expansion of the Facility to support AI computing infrastructure progresses, it is my belief that our stockholders will be rewarded as the Company's market capitalization, which currently trades at a significant discount to other data center companies, begins to normalize in comparison to its available contracted power capacity,” Horne added.
Hyperscale plans to sell the mining servers and expects gains from those sales. It did not announce a start date for AI operations, and the mining shutdown concerns the Michigan site.
Other miners have been converting sites to serve AI customers. VanEck’s head of digital asset research, Matthew Sigel, argued in March that miners are “sitting on a gold mine " and could profit from repurposing their infrastructure as demand for AI computing grows.
The cost of that shift, however, can be substantial, as was evident in IREN’s quarterly results released last month: AI cloud revenue surpassed Bitcoin mining revenue for the first time, but the company also wrote down $450.4 million in asset values, mostly tied to mining equipment it had retired.
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In brief Hyperscale Data stopped Bitcoin mining at its Michigan data center on September 1. The AI agreement could generate more than $1.2 billion over 20 years if the customer exercises both extensions. The company plans to sell its mining servers as it prepares the facility for AI operations. Hyperscale Data shut down Bitcoin mining operations at its Michigan data center on Tuesday to make room for an AI customer whose contract could generate more than $1.2 billion over 20 years, the company said.
In an announcement on Wednesday, Hyperscale said the previously announced deal could generate more than $1.2 billion if the customer exercises both five-year extensions to the initial 10-year term. The agreement covers 20 megawatts of capacity for an unnamed California-based provider of cloud computing services for AI.
Myriad: How high will Nvidia stock go? Click to make your prediction.“The immediate shutdown of the Bitcoin mining operations allows our team to focus the Facility's power, infrastructure and resources in preparing the Facility for its usage by our Customer,” CEO William Horne said in the announcement.
According to Hyperscale, the agreement gives the customer an option to add 32 megawatts within the first two years. The company said exercising that option and both five-year extensions could bring total contract revenue above $3 billion.
“Further, as the expansion of the Facility to support AI computing infrastructure progresses, it is my belief that our stockholders will be rewarded as the Company's market capitalization, which currently trades at a significant discount to other data center companies, begins to normalize in comparison to its available contracted power capacity,” Horne added.
Hyperscale plans to sell the mining servers and expects gains from those sales. It did not announce a start date for AI operations, and the mining shutdown concerns the Michigan site.
Other miners have been converting sites to serve AI customers. VanEck’s head of digital asset research, Matthew Sigel, argued in March that miners are “sitting on a gold mine " and could profit from repurposing their infrastructure as demand for AI computing grows.
The cost of that shift, however, can be substantial, as was evident in IREN’s quarterly results released last month: AI cloud revenue surpassed Bitcoin mining revenue for the first time, but the company also wrote down $450.4 million in asset values, mostly tied to mining equipment it had retired.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Bitcoin’s correlation with gold is at its highest in six years as investors increasingly look for ways to hedge against currency debasement.
That’s according to a new report from Bitwise, which this week pointed out that the precious metal and leading cryptocurrency are trading in lockstep because the U.S. government has “materially intervened in the macro picture.”
Bitcoin started surging last month, after the U.S. Treasury Department said it would more than double the size of its government debt repurchases. The coin had its best run in three years and third best August ever.
JUST IN: Bitcoin's correlation with gold hit a six-year high, according to Bitwise 👀
"The last time it was this high was 2020, after the Covid stimulus." 🚀 pic.twitter.com/fHtQUlR9Ol
— Bitcoin Magazine (@BitcoinMagazine) September 3, 2026 “The last time the bitcoin-gold correlation was that high was in 2020, following the rounds of fiscal and monetary stimulus during the Covid crisis,” Bitwise’s European Head of Research, André Dragosch, wrote.
He added that bitcoin’s correlation with the stock market dropped to a one-year low, “implying some kind of decoupling between hard assets and the stock market.”
Bitcoin has been pushed as “digital gold” for years but has sometimes traded with tech stocks as a “risk-on” asset.
But the so-called debasement trade — when investors buy an asset as a way to hedge against a currency losing value — was a much-talked about investment strategy last year and appears to be back.
The reason is down to the government intervening in markets, Dragosch argued. When the Treasury said it would try to rein in long-term borrowing costs, the dollar’s value slid and sent investors flooding back to gold — and bitcoin.
The Treasury the same week also said the U.S. public debt exceeded $40 trillion for the first time. Excessive debt also undermines confidence in the dollar.
“Investors are no longer asking whether to hedge currency debasement with gold or bitcoin. They’re simply hedging with both,” the report added.
“Bitcoin spent its first fifteen years being priced as a risk asset. If this correlation trend with gold holds, the next fifteen may look very different.”
The leading cryptocurrency again rallied this week, and was recently trading for close to $81,438 after jumping nearly 6% over a 24-hour period.
Mathew Di Salvo
Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.
Hyperscale Data has shut down Bitcoin mining operations at its Michigan data center to make way for major artificial intelligence (AI) customers, signaling a strategic shift in its core business. The decision follows a new cloud computing agreement that could generate more than $1.2 billion for the company over the next 20 years, provided the client exercises all extension options.
AI contract details and expansion plansThe AI agreement, announced Wednesday, covers the use of 20 megawatts of capacity by a California-based client specializing in cloud computing for artificial intelligence applications. The initial term lasts 10 years, with two optional five-year extensions that could bring the deal’s total value to more than $1.2 billion.
Hyperscale Data stated that the client can increase capacity by an additional 32 megawatts within the first two years. If this expansion option is exercised and both five-year extensions are taken, the total revenue from the contract could exceed $3 billion.
CEO William Horne described the immediate shutdown as a move to redirect the facility’s power, infrastructure, and resources toward preparing for the incoming AI operations.
The immediate shutdown of the Bitcoin mining operations allows our team to focus the Facility’s power, infrastructure and resources in preparing the Facility for its usage by our Customer.
Horne further expressed confidence that shareholders could benefit as the company’s available contracted power capacity comes to match the valuations of comparable data center firms.
Hyperscale Data plans to sell its Bitcoin mining servers, expecting additional gains from these sales. The company has not yet disclosed when AI operations at the Michigan site will commence.
Mini dictionary: Hyperscale Data is a U.S.-based data center firm providing large-scale IT infrastructure for clients in sectors such as cryptocurrency mining and AI computational services.
Industry shifts and competitive landscapeThe transition by Hyperscale Data reflects a wider trend in the digital infrastructure sector, as more Bitcoin miners reposition their facilities to meet rising demand from the AI industry.
VanEck head of digital asset research Matthew Sigel observed in March that mining companies could gain significant value by repurposing infrastructure for AI workloads, calling it a potential “gold mine” opportunity.
However, recent industry results illustrate the challenges involved. IREN, another player converting mining facilities for AI purposes, reported in its last quarterly update that revenue from cloud AI services overtook its Bitcoin mining business for the first time. Despite this milestone, the company wrote down $450.4 million in asset values, mostly due to the retirement of its mining equipment.
CompanyAI Cloud Revenue Surpassing MiningAsset Write-downIRENYes (latest quarter)$450.4 millionHyperscale DataAI deal secured, revenue transition ongoingExpectation of server sale profits, no announced write-downMarket analysts have noted these shifts reflect changing economics in the digital infrastructure space, as higher-margin opportunities in AI may outpace traditional cryptocurrency mining.
As the expansion of the Facility to support AI computing infrastructure progresses, it is my belief that our stockholders will be rewarded as the Company’s market capitalization, which currently trades at a significant discount to other data center companies, begins to normalize in comparison to its available contracted power capacity.
BlackRock’s iShares Bitcoin Trust (IBIT) surged nearly 6% on the day, fueled by roughly $300 million in daily net inflows.
The numbers behind the dominance On August 27, the fund pulled in $277.6 million in net inflows, a figure that actually exceeded the entire US spot Bitcoin ETF category’s net inflow of $242 million for that same day. That math only works because competing funds experienced outflows, meaning IBIT was not just winning the race but lapping the field while other runners stumbled backward.
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The pattern repeated on September 2, when IBIT attracted $115.4 million. That came a day after the broader category posted a $236.5 million outflow, making the rebound even more notable. The category’s total for September 2 landed at $101.1 million in net inflows, with IBIT doing more than all the heavy lifting.
August as a whole was a strong month across the board, with total category inflows reaching approximately $3.5 billion. IBIT captured somewhere between 70% and 90% of total flows during peak periods.
The fund’s assets under management now sit at an estimated $60 billion, with cumulative net inflows since its January 2024 launch exceeding $63 billion. The entire US spot Bitcoin ETF category’s AUM has approached $97 billion to $100 billion, meaning IBIT alone accounts for roughly 60% of the whole pie.
Why BlackRock keeps winning BlackRock manages over $10 trillion across its platform. Competitors like Fidelity’s FBTC and Ark 21Shares’ ARKB have attracted meaningful flows of their own, but neither has come close to challenging IBIT’s dominance on a sustained basis.
What this means for Bitcoin and crypto markets Bitcoin’s price has been hovering in the mid-to-high $70,000s during this period, and the sustained ETF inflows provide a structural demand floor that did not exist in prior market cycles. Before January 2024, institutional investors who wanted Bitcoin exposure had to navigate custody solutions, futures contracts, or trust vehicles trading at persistent premiums or discounts to net asset value.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
ProCap Financial just sold 50 Bitcoin to buy back more than 2% of its outstanding shares at roughly a 40% discount to net asset value. The company now holds approximately 5,305 BTC, making it one of the larger publicly traded Bitcoin treasury firms on the Nasdaq.
When a company’s stock trades at a 40% discount to the value of the assets backing it, every dollar spent on buybacks effectively acquires $1.67 worth of Bitcoin exposure. For remaining shareholders, each share now represents a bigger slice of the company’s Bitcoin pile.
The buyback playbook This isn’t ProCap’s first time running this particular play. Back on June 1, 2026, the company sold roughly 52 BTC to fund a repurchase of 2 million shares, that time at an even steeper discount of approximately 50% to NAV.
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The pattern is deliberate. ProCap has a board-approved share repurchase program, authorized in December 2025, with a budget of up to $100 million. The company has been executing buybacks at discounts ranging from 25% to 35% throughout 2026, with this latest round and the June transaction representing the more aggressive end of that spectrum.
After the latest transaction, ProCap’s shares outstanding sit at 86,764,282, with a NAV per share of roughly $3.71 as of the market close on September 2, 2026. The company’s Bitcoin holdings have fluctuated between approximately 5,000 and 5,457 BTC during 2026.
How ProCap got here ProCap Financial, trading under the ticker BRR on the Nasdaq, went public in 2025 through a SPAC merger. The company raised more than $750 million to establish its Bitcoin treasury, including $516.5 million in preferred equity and $235 million in convertible instruments. The target was to build a treasury of up to $1 billion in Bitcoin holdings.
The firm was founded by Anthony Pompliano. Beyond its Bitcoin treasury strategy, ProCap operates an AI-based financial platform called Silvia.
What the discount arbitrage means for investors Every time the company executes one of these trades, it slightly reduces its total Bitcoin holdings but increases the Bitcoin backing per remaining share. The $100 million repurchase authorization gives ProCap significant runway to continue this strategy.
The risk is that ProCap is selling Bitcoin to fund these buybacks. The 50 BTC sold in this latest transaction represents less than 1% of the total treasury. The company’s holdings have already dipped from a 2026 peak near 5,457 BTC down to the current 5,305.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Bitcoin may be rallying but that doesn’t mean the bear market is over. Not yet, anyway.
A new report from asset manager Fidelity said that while bitcoin was behaving like it did in previous cycles, it could still hit a bottom in November.
Bitcoin started rallying in mid-August after the U.S. Treasury Department said it would more than double the size of its government debt repurchases. The asset’s price recently stood at close to $81,639, up nearly 30% over a 30-day period.
Some have since argued that bitcoin is out of its bear market. The coin touched a record high in October last year, hitting $126,080.
“Given bitcoin’s recent performance, the bottom could already have occurred in July,” Chris Kuiper, Vice President of Research at Fidelity Digital Assets, wrote.
“It could also drop again to make another new low in November or later,” he continued, adding that bitcoin cycles have historically not been precisely four years long, so they “aren’t reliable for timing the market.”
Throughout most of June and July, bitcoin’s volatility was particularly muted, and the coin traded below $65,000.
But that all changed in August after the Treasury Department’s announcement, which has since brought the so-called debasement trade back in the picture again.
To get an idea of where bitcoin moves next, Kuiper argued that investors should pay attention to what happens with the crypto Clarity Act. Proponents argue it could provide “greater regulatory certainty and support continued innovation in the U.S. digital asset ecosystem,” he wrote.
President Donald Trump in August urged lawmakers to get the long-awaited crypto market structure bill over the line, helping spur bitcoin’s run. The president called the draft “very, very powerful” after meeting with crypto industry bigwigs at the White House.
The digital asset industry has long called for clear rules on how regulators should treat bitcoin, stablecoins and other cryptocurrencies.
Lawmakers will vote on the bill this month.
Mathew Di Salvo
Mathew is a reporter who's covered the space since 2019, reporting on everything from Salvadoran president Nayib Bukele's Bitcoin bet to crypto exchange FTX's bankruptcy.
Someone had a very bad hour. On September 3, roughly $58.2 million in crypto short positions were wiped out in a single 60-minute window, with Bitcoin accounting for $47.5 million of the carnage. For traders betting against the market with leverage, the price move was the financial equivalent of a rug pull, except the rug was their own margin.
Short liquidations happen when a trader’s leveraged bet against an asset hits its breaking point. The price rises far enough that the exchange force-closes the position to prevent further losses. That forced buying then pushes the price up even more, catching the next layer of shorts in a cascading squeeze.
What triggered the squeeze The $47.5 million in Bitcoin short liquidations represented about 82% of the total crypto liquidations in that hour. That concentration tells you this was primarily a Bitcoin-driven event, not a broad altcoin rally dragging everything with it.
Platforms like CoinGlass, which aggregate real-time liquidation data across major exchanges, have become essential tools for tracking these events. They provide a near-instant view of how much leverage is being destroyed and where.
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This latest squeeze didn’t happen in a vacuum. Since September 1, approximately $82 million in short positions have been liquidated across crypto markets, primarily hitting Bitcoin and Ethereum positions.
A pattern of pain for shorts The August 19-20 event was the real headline-grabber: over $2.7 billion in short positions were liquidated across exchanges within a 24-hour span. Binance alone saw roughly $518 million in liquidations, while Hyperliquid absorbed about $513 million.
The total 24-hour liquidation figure during that mid-August event exceeded $3 billion when counting both longs and shorts. During that squeeze, Bitcoin surged from around $64,100 to over $72,000, catching many bearish traders off-guard.
Today’s $58.2 million event is far smaller in absolute terms, but the velocity matters. Wiping out that much in a single hour suggests a sudden, sharp price movement rather than a gradual grind higher.
Why leverage keeps burning traders The crypto derivatives market has grown enormously, and with that growth comes a larger pool of leveraged positions vulnerable to exactly this kind of event. High leverage, sometimes 50x or 100x on certain platforms, means even modest price moves can trigger liquidations.
Consider a trader using 20x leverage on a Bitcoin short. A 5% price increase wipes out their entire position. At 50x leverage, it only takes a 2% move.
The irony is that liquidations themselves become fuel for more liquidations. Each forced buyback pushes the price higher, which triggers the next set of margin calls. It’s a feedback loop that can amplify moves well beyond what organic buying alone would produce.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Bitcoin logo (public domain, Grayliptrot) via Wikimedia Commons
The global cryptocurrency market cap has surged by $135 billion in the last 24 hours, according to a report by @WatcherGuru. This increase brings the total market cap to between $2.7 trillion and $2.82 trillion. Key cryptocurrencies such as Bitcoin, Ethereum, and Solana have shown price rises, with Bitcoin nearing $81,000 and Ethereum close to $2,500. This broad market uptick suggests a general positive sentiment within the crypto space, potentially impacting various crypto assets, including Hyperliquid.
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The significant market cap increase reflects a market-wide movement rather than an isolated event, with Bitcoin appearing to lead the charge. This development comes amid a backdrop of high volumes and increased interest in digital assets, raising the stakes for outcomes related to Hyperliquid’s price predictions for 2026. The current market environment suggests that participants may view the conditions as supportive of further gains.
Key Takeaways The addition of $135 billion to the crypto market cap appears supportive of a positive market sentiment. Bitcoin’s rise to near $81,000 is a key indicator of the overall market movement. Current market pricing suggests participants are considering the potential for further asset appreciation. What to Watch Market participants will likely monitor how this market-wide increase influences specific assets like Hyperliquid. The pricing for Hyperliquid reaching $100 by December 31, 2026, currently stands at 59% YES, suggesting cautious optimism. Future developments in institutional interest or major partnerships could further impact these odds. Watch for announcements from key players such as Binance or major financial publications that could shift market dynamics.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 59% — — View market → January 1 2027 4% — — View market → January 1 2027 2.6% — — View market → January 1 2027 4.9% — — View market → January 1 2027 2.8% — — View market → January 1 2027 86% — — View market → January 1 2027 12.5% — — View market → January 1 2027 5.5% — — View market →
Japan-listed Remixpoint Inc. recently sold its Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL) and XRP (CRYPTO: XRP) holdings and booked a tidy $742,000 in doing so.
Yet, the company’s Dogecoin (CRYPTO: DOGE) sales is the most noteworthy — and not for the right reasons.
The company booked a $21,000 loss on its DOGE trade, making Dogecoin the only losing altcoin, while ETH, SOL and XRP delivered profits between $72,000 and $379,000.
The Japanese firm said it exited its positions after reviewing market conditions and their risk-return profiles, CoinDesk reported on Thursday.
Remixpoint will now focus exclusively on Bitcoin, holding roughly 1,506 BTC worth more than $115 million at Thursday’s prices.
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The DOGE exit is notable given its established presence in Japan, where it has traded on registered crypto exchanges since 2022.
Is A Reversal Brewing?Despite Remixpoint’s exit, crypto analyst Ali Martinez says Dogecoin’s correction could be nearing an end.
The Tom DeMark Sequential indicator has flashed a daily buy signal, with the chart printing a bullish reversal pattern that can indicate fading selling pressure.
Whale interest in increasing as large holders accumulated more than 400 million DOGE over five days, reinforcing an important on-chain support zone around $0.0813.
Around 35 billion DOGE previously changed hands around that level.
The analyst sees the bullish structure remaining intact if DOGE holds support, with $0.1552 and $0.1774 emerging as potential upside targets.
Image: Shutterstock
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Bitcoin (CRYPTO: BTC) is up 5% to $81,000 on Thursday, blowing through the levels where analysts flagged a bearish Bart Simpson pattern one day earlier.
What the Pattern Was Supposed to DoAs Benzinga reported Wednesday, analysts flagged a classic three-phase Bart Simpson setup forming across Bitcoin and XRP after August’s sharp rally.
Bitcoin had spiked from $64,420 to nearly $80,700, then stalled in a flat range, with the final phase supposed to be a sharp snap back lower.
XRP traced the same shape, climbing from $1 to $1.52 before drifting to $1.32.
Quantum Economics founder Mati Greenspan said a true completion required a 20% pullback, while New Market Trading CEO Frank Hepworth projected Bitcoin falling to $70,000 or even $58,000 if selling accelerated.
What Actually HappenedFed Governor Christopher Waller told a Reuters NEXT interview Thursday that he is willing to support holding rates steady at the Sep. 15 meeting if inflation continues to cool.
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The 10-year Treasury yield dropped to 4.75% from 4.82% the prior day, removing one of the key headwinds that had been pressuring risk assets all week.
Bitcoin responded immediately, pushing towards $82,000 and clearing resistance that had capped the rally all week.
Meanwhile, XRP (CRYPTO: XRP) broke out of the descending triangle that compressed price for two weeks, confirming a trend reversal.
Both assets now show RSI readings above 72, pointing to genuine momentum rather than a low-volume bounce.
What Crypto Twitter Made of ItThe reaction on X was swift. One user replied to a chart post asking why Bitcoin was above $80,000 with: “I don’t know, my favorite influencer showed me a Bart Simpson pattern yesterday.”
Another noted that while the broader timeline was filled with bullish calls, only one analyst had posted the Bart Simpson setup, and the market promptly moved the other way.
Key Levels to Watch for BTC and XRPBitcoin: $82,207 — resistance above, close through this opens a bigger move $76,983 — first support on any pullback XRP: $1.50 — next resistance level to clear $1.38 — support on any dip, key level to hold Read Next
XRP may be entering a critical phase against Bitcoin as the cryptocurrency market approaches the fourth quarter of 2026. Crypto analyst Egrag Crypto has highlighted historical data indicating that XRP has tended to deliver notably strong performance relative to Bitcoin during key months in the final quarter, despite regular setbacks in October.
XRP’s Seasonal Performance Against BitcoinEgrag Crypto, a market analyst recognized for his chart-based approach to digital assets, presented an evaluation of the historical monthly performance of the XRP/BTC pair. His analysis focuses on XRP’s value in relation to Bitcoin, aiming to inform investors about possible capital flows between these two major cryptocurrencies during different periods of the year.
He reported that, on average, XRP outperformed Bitcoin by 17.0% in September. In contrast, October registered an average decline of 19.6%. November demonstrated a sharp rebound with an average gain of 30.5%, while December saw the strongest relative performance with XRP outperforming Bitcoin by 44.1% on average.
MonthXRP/BTC Average % ChangeSeptember+17.0%October-19.6%November+30.5%December+44.1%The analyst emphasized that the sequence is significant. He described September as a period of “rotation,” October as a “shakeout,” with November and December bringing “expansion” and “acceleration,” respectively. According to Egrag, October stands out as the most challenging month, as XRP underperformed Bitcoin in 11 of the last 13 years during this period.
October has historically brought the sharpest declines for XRP against Bitcoin, but these setbacks have often been followed by strong rebounds in the last quarter months.
Egrag pointed out past years as examples: in 2020, XRP fell 22.4% against Bitcoin in October but gained 93.8% in November. Similarly, in 2024, XRP dropped 24.9% in October and then surged 179.2% in November relative to Bitcoin.
XRP’s 2026 Performance and OutlookExamining data from 2026, Egrag noted that XRP generally underperformed Bitcoin for most of the year. His figures show a decline of 0.5% in January, 1.8% in February, 4.4% in March, and 8.8% in April. XRP rose 1.0% in May but fell 2.0% in June and 4.8% in July. The trend shifted in August, with XRP posting a 4.0% gain against Bitcoin.
This August result is key to Egrag’s current analysis. He questioned whether this positive turn signals the start of a broader move of capital from Bitcoin into XRP.
Mini dictionary: Egrag Crypto is an independent crypto analyst known for his detailed technical analysis and frequent posts on market seasonality and price patterns in leading cryptocurrency pairs.
If XRP/BTC breaks its August high, Q4 could get explosive, with renewed volatility in October and further upside possible in November and December.
Critical Resistance and Historical PerspectiveEgrag indicated that the key technical level is the August high for the XRP/BTC pair. He stated that a breakout above this level could confirm the scenario for an outsized move during the final quarter.
He also warned that while past trends are informative, historical performance does not guarantee future results. Egrag outlined that an October dip would not necessarily derail a bullish outlook for the remainder of the year, provided the pattern of past strong rebounds holds.
He concluded his analysis by stressing the importance of objective data, commenting, “Men lie. Women lie. Charts and numbers don’t lie.”
Ripple CTO emeritus David Schwartz has sharply criticized recent efforts to launch a forked version of Bitcoin, labeling the initiative less a policy dispute than an attack under the guise of reform. Schwartz’s remarks, posted on August 31 in response to community discussions, highlight growing tensions within the Bitcoin ecosystem as competing visions for the network’s future surface.
The debate centers on BIP-110, a controversial proposal originally intended as a user-activated soft fork designed to restrict non-financial data on the Bitcoin blockchain. This approach failed to secure significant support from miners, with the overwhelming majority of hash power continuing to back the existing SHA-256d-based network. Only a handful of blocks were mined by the dissenting group.
After it became clear they could not implement the soft fork, BIP-110 advocates pursued a hard fork. The proposed fork would swap Bitcoin’s SHA-256d hashing algorithm for BLAKE2b, introduce a new block header structure, and establish temporary block size limits. Organizers aimed to launch this chain at block 961,640, effectively repositioning it as an alternative continuation of Bitcoin.
In a key exchange, BIP-110 supporter loogart acknowledged the split by stating the group would “continue Bitcoin elsewhere,” insisting that the move reflected open dialogue rather than an act of aggression. Schwartz, however, questioned the language used, focusing on the assertion that the breakaway faction was seeking to “fix the legacy chain.”
Schwartz argued that redefining Bitcoin’s main chain as “legacy” moves the debate beyond good faith policy disagreements, positioning it as an outright attack rather than a legitimate upgrade.
He further emphasized that introducing terminology which frames the original network as defective undermines the foundational processes by which Bitcoin governance decisions are made.
Technical and Economic Realities of the ForkBy adopting the BLAKE2b proof-of-work algorithm, the would-be fork ensures that current Bitcoin ASIC miners cannot seamlessly join the new chain. This significant technical divergence is intended to distinguish the fork as a new cryptocurrency rather than a straightforward network upgrade adopted by consensus.
As of the planned launch, no major crypto exchanges, wallet providers, or Lightning Network services had confirmed support for the forked chain. SHA-256d Bitcoin retains overwhelming hashrate, liquidity, and institutional backing.
ChainHash AlgorithmExchange SupportLiquidityBitcoin (original)SHA-256dMajor exchangesHighBIP-110 ForkBLAKE2bNone (pre-launch)LowSchwartz’s position echoes past disputes, including the forks that led to Bitcoin Cash and Bitcoin SV. In both instances, splinter groups claimed to preserve Bitcoin’s original vision, but the broader market continued to recognize SHA-256d-based Bitcoin as the legitimate network.
He stressed that initiating a hard fork after losing a soft-fork consensus vote, while labeling the original chain as broken, does not constitute responsible governance. Instead, Schwartz characterized this approach as a refusal to accept established rules and outcomes.
Ripple is a San Francisco-based blockchain company best known for its digital payment protocol and the XRP token. David Schwartz, as CTO emeritus, remains a prominent voice in blockchain debates and Bitcoin’s wider governance discussions.
Mini dictionary: BLAKE2b, a cryptographic hash function, is regarded for its speed and security, but is not compatible with existing Bitcoin mining equipment designed for SHA-256d. Thus, the adoption of BLAKE2b in a Bitcoin fork effectively divides the mining community and reduces the likelihood of continued support from incumbent miners.
Schwartz has clarified that while forking is permissible, branding the main chain as obsolete or broken after losing consensus is a form of refusal to acknowledge democratic process within decentralized networks.
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.
In brief Spot Ethereum ETFs posted $48.08 million in net outflows Wednesday, ending a 12-day inflow streak that had pulled in $1.62 billion. Spot XRP ETFs recorded $7.2 million in outflows, snapping an 11-session run that brought in roughly $170 million and pushed cumulative inflows to $1.68 billion. Bitcoin ETFs rebounded with $101.15 million in net inflows, a day after posting $236.5 million in outflows, their largest single-day exit since July 31. US spot Ethereum and XRP ETFs broke their winning streaks on Wednesday. Bitcoin funds went the other way, pulling in $101.15 million in fresh money, per SoSoValue and Decrypt data.
ETFs, or exchange-traded funds, are funds that trade like stocks and let investors buy exposure to a cryptocurrency's price through a regular brokerage account instead of holding the coin itself. Crypto ETFs have been extremely popular among investors, and market observers keep a close eye on the money going in and out of these funds as a key indicator of current sentiment.
Bitcoin ETF Net Flows. Image: DecryptEthereum ETFs had logged 12 straight days of net inflows, meaning more money came into the funds than left them every single day for two and a half weeks. That streak gathered $1.62 billion before ending Wednesday with $48.08 million walking out the door.
BlackRock's iShares Ethereum Trust (ETHA) led the exodus with $53.4 million in outflows. Fidelity's FETH lost $26.2 million, and Grayscale's Ethereum Staking ETF (ETHE) shed $23.5 million. BlackRock's staked Ethereum ETF, ETHB—a fund that locks up its Ethereum to earn network rewards and passes some of that yield to shareholders—absorbed part of the damage with $52.9 million in inflows.
Ethereum ETF Net Flows. Image: DecryptXRP told a similar story on a smaller scale. Its 11-session streak had brought in about $170 million, lifting cumulative inflows to $1.68 billion, before Wednesday's $7.2 million outflow. The withdrawal came almost entirely from Bitwise's XRP fund, while the four other XRP products, issued by Franklin, Canary, 21Shares and Grayscale, recorded no flows either way.
Bitcoin moved in the opposite direction. Wednesday's $101.15 million inflow reversed Tuesday's $236.5 million outflow, the category's largest single-day exit since July 31, when BlackRock's IBIT alone accounted for 85% of the damage. This time IBIT led the comeback, pulling in $115.45 million on its own, more than the day's entire net total, while Grayscale's original GBTC fund still lost $56.21 million.
The whiplash caps a volatile stretch. Bitcoin ETFs pulled in $3.52 billion in August, their best month of 2026, a run that included a $606 million single-day haul in mid-August, the biggest since May. Total net assets across the category now sit at $97.22 billion, with cumulative inflows near $54.7 billion since the funds launched in January 2024.
XRP ETF Net Flows. Image: DecryptSeptember has a habit of testing that momentum. Bitcoin has closed the month lower in eight of the past 13 years, a pattern Decrypt has tracked as Red September, and this year's version arrives with the Federal Reserve's rate decision landing September 15 to 16, the first hike debate since the central bank's 2022-2023 tightening cycle
Why the money picked BitcoinWednesday's split wasn't just Ethereum and XRP losing steam. Solana ETFs also posted a $6.13 million outflow the same day, meaning three of the four major crypto ETF categories retreated while only Bitcoin advanced. That's a narrower signal than "crypto is cooling"—it looks more like capital consolidating into Bitcoin specifically rather than spreading across digital assets broadly, a pattern that also showed up during last month's institutional buying spree.
In the most overly simplistic explanation, Bitcoin is the bigger, thus safer asset in the ecosystem.
Myriad: Bitcoin's next price move? Click to make your prediction.Another thing to consider comes with simple market expectation. Ethereum and XRP had each just run their longest inflow streaks in months, 12 and 11 sessions respectively, so a pause to lock in gains was overdue on both. Bitcoin, by contrast, was coming off Tuesday's outflow and had room to bounce.
The rest is macro nerves. Fed Chair Kevin Warsh's hawkish Jackson Hole remarks pushed September rate-hike odds above 60% on the CME's FedWatch tool, and when crypto investors get defensive, Bitcoin is typically the first asset they buy back into and the last one they exit, since it carries the deepest liquidity and the longest institutional track record of any crypto ETF on the market. XRP and Ethereum, both newer and thinner by comparison, tend to see that caution show up as outflows first.
The simplest explanation tends to be the right one.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief Spot Ethereum ETFs posted $48.08 million in net outflows Wednesday, ending a 12-day inflow streak that had pulled in $1.62 billion. Spot XRP ETFs recorded $7.2 million in outflows, snapping an 11-session run that brought in roughly $170 million and pushed cumulative inflows to $1.68 billion. Bitcoin ETFs rebounded with $101.15 million in net inflows, a day after posting $236.5 million in outflows, their largest single-day exit since July 31. US spot Ethereum and XRP ETFs broke their winning streaks on Wednesday. Bitcoin funds went the other way, pulling in $101.15 million in fresh money, per SoSoValue and Decrypt data.
ETFs, or exchange-traded funds, are funds that trade like stocks and let investors buy exposure to a cryptocurrency's price through a regular brokerage account instead of holding the coin itself. Crypto ETFs have been extremely popular among investors, and market observers keep a close eye on the money going in and out of these funds as a key indicator of current sentiment.
Bitcoin ETF Net Flows. Image: DecryptEthereum ETFs had logged 12 straight days of net inflows, meaning more money came into the funds than left them every single day for two and a half weeks. That streak gathered $1.62 billion before ending Wednesday with $48.08 million walking out the door.
BlackRock's iShares Ethereum Trust (ETHA) led the exodus with $53.4 million in outflows. Fidelity's FETH lost $26.2 million, and Grayscale's Ethereum Staking ETF (ETHE) shed $23.5 million. BlackRock's staked Ethereum ETF, ETHB—a fund that locks up its Ethereum to earn network rewards and passes some of that yield to shareholders—absorbed part of the damage with $52.9 million in inflows.
Ethereum ETF Net Flows. Image: DecryptXRP told a similar story on a smaller scale. Its 11-session streak had brought in about $170 million, lifting cumulative inflows to $1.68 billion, before Wednesday's $7.2 million outflow. The withdrawal came almost entirely from Bitwise's XRP fund, while the four other XRP products, issued by Franklin, Canary, 21Shares and Grayscale, recorded no flows either way.
Bitcoin moved in the opposite direction. Wednesday's $101.15 million inflow reversed Tuesday's $236.5 million outflow, the category's largest single-day exit since July 31, when BlackRock's IBIT alone accounted for 85% of the damage. This time IBIT led the comeback, pulling in $115.45 million on its own, more than the day's entire net total, while Grayscale's original GBTC fund still lost $56.21 million.
The whiplash caps a volatile stretch. Bitcoin ETFs pulled in $3.52 billion in August, their best month of 2026, a run that included a $606 million single-day haul in mid-August, the biggest since May. Total net assets across the category now sit at $97.22 billion, with cumulative inflows near $54.7 billion since the funds launched in January 2024.
XRP ETF Net Flows. Image: DecryptSeptember has a habit of testing that momentum. Bitcoin has closed the month lower in eight of the past 13 years, a pattern Decrypt has tracked as Red September, and this year's version arrives with the Federal Reserve's rate decision landing September 15 to 16, the first hike debate since the central bank's 2022-2023 tightening cycle
Why the money picked BitcoinWednesday's split wasn't just Ethereum and XRP losing steam. Solana ETFs also posted a $6.13 million outflow the same day, meaning three of the four major crypto ETF categories retreated while only Bitcoin advanced. That's a narrower signal than "crypto is cooling"—it looks more like capital consolidating into Bitcoin specifically rather than spreading across digital assets broadly, a pattern that also showed up during last month's institutional buying spree.
In the most overly simplistic explanation, Bitcoin is the bigger, thus safer asset in the ecosystem.
Myriad: Bitcoin's next price move? Click to make your prediction.Another thing to consider comes with simple market expectation. Ethereum and XRP had each just run their longest inflow streaks in months, 12 and 11 sessions respectively, so a pause to lock in gains was overdue on both. Bitcoin, by contrast, was coming off Tuesday's outflow and had room to bounce.
The rest is macro nerves. Fed Chair Kevin Warsh's hawkish Jackson Hole remarks pushed September rate-hike odds above 60% on the CME's FedWatch tool, and when crypto investors get defensive, Bitcoin is typically the first asset they buy back into and the last one they exit, since it carries the deepest liquidity and the longest institutional track record of any crypto ETF on the market. XRP and Ethereum, both newer and thinner by comparison, tend to see that caution show up as outflows first.
The simplest explanation tends to be the right one.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
The crypto market rallied sharply Thursday as easing rate fears, Treasury liquidity measures, and renewed institutional demand strengthened risk appetite.
Bitcoin price surpassed $81,000, Ethereum price regained above $2,490, and XRP price led other major tokens. Reductions in employment indicators and large liquidations were impetus throughout the digital assets in the expansive market growth.
Crypto Market Rallies as Bitcoin, ETH, XRP and Major Altcoins Surge The total cryptocurrency capitalization increased by 5% over 24 hours, with tokens in the broad gains. Bitcoin price climbed nearly 5%, adding $3,200 within four hours before moving above $81,000. The progress wiped five days of losses and stretched the recovery of August.
Bitcoin price gained roughly 25% last month, its best monthly performance since November 2024. Ethereum price rebounded to $2,490, and Solana price rose to over $104 and XRP price rose approximately 10%.
Cardano price increased by 13%, Dogecoin price increased by 10%, and Sui price by over 17%.
Coin360 data Cryptocurrency stocks surged as the mood rose among the digital asset markets. The coordinated returns indicated that investors were flocking back to risky assets.
Cooling US Labor Data and Falling Rate Expectations Boost Risk Assets Thursday’s releases encouraged expectations for easier monetary policy. The first jobless claims were 206,000, which surpassed 205,000 expectation and 203,000 level. ADP also showed 38,000 payroll additions, short of the expected 47,000 and an indicator of employment weakness.
The numbers reduced Treasury yields and undermined the dollar with investors reviewing the Fed policy. The labor softness was against the ISM Services Index that was 55.4. The reading was higher than the 54.3 prediction and ensured further growth of service-sector.
The reports were considered by investors to favor a potential rate cut, which tends to favor risk assets. The next market direction and policy expectation test is the jobs report on Friday.
Bitcoin ETF Inflows and Short Liquidations Accelerate the Market Rally Liquidity improved after the Treasury announced up to $12.5 billion in short-term debt buybacks. Settlement is Friday, although the operation does not represent quantitative easing. Long-term buybacks were considered by investors as they could enhance liquidity in the market.
Spot Bitcoin ETFs recorded $101 million in Wednesday inflows, restoring demand. September began with $236.46 million leaving, followed by another $9.3 million the next session. Spot Ether funds reported an outflow of 48 million and their 12-day streak of positive performance came to a close.
Bitcoin’s advance liquidated over $300 million in shorts, forcing traders to repurchase exposure. The cascade accelerated Bitcoin’s move above $81,000 and lifted the cryptocurrency market.
CLARITY Act Senate Vote Fuels Regulatory Optimism Ahead of September 15 There was optimism with regulatory expectations approaching end of September 15. The CLARITY Act is likely to be voted on in a Senate procedural vote. It would not determine final passage, but only signify that lawmakers take the proposal into account.
SEPTEMBER 15 IS GETTING CLOSER.
The CLARITY Act is now just days away from a key Senate test.
The vote is on whether to move forward with consideration of the bill, not final passage.
If it clears this hurdle, the U.S. gets one step closer to finally having a proper regulatory… pic.twitter.com/e5KVc6xv4N
— That Martini Guy ₿ (@MartiniGuyYT) September 3, 2026
The act of clearing it would bring Congress nearer to a federal cryptocurrency market structure. Proponents feel that regulation would promote investment and decrease uncertainty to the exchanges, issuers and institutions. Nevertheless, the procedural vote is just a part of a legislative process.
This has traders waiting to see whether the measure will get enough Senate support to pass. Important near-term factors include the macroeconomic data, ETF demand, Treasury yields and the jobs report on Friday.
Shares of Strategy Inc. and Coinbase Global Inc. climbed sharply on Thursday, leading gains among crypto-linked stocks as Bitcoin rebounded above the $80,000 mark. Bitcoin advanced nearly 5% in the past 24 hours to reach $80,982.09, sparking renewed investor interest in companies with significant exposure to the digital asset market.
The rally in the crypto sector followed remarks from Federal Reserve Governor Christopher Waller, who indicated support for holding US interest rates steady. His comments suggested a reduced likelihood of additional tightening in monetary policy, lowering Treasury yields and contributing to a weaker US dollar.
Market analysts have suggested that these developments boosted risk appetite and provided a supportive environment for speculative assets, including cryptocurrencies and related stocks.
Federal Reserve Governor Christopher Waller expressed a preference for maintaining interest rates at their current level, which contributed to increased demand for speculative assets as policy concerns eased.
Strategy Inc. gains after resuming Bitcoin purchasesStrategy Inc., a business intelligence and software company formerly known as MicroStrategy, has long maintained close ties to Bitcoin’s price performance through significant holdings on its balance sheet.
Earlier this week, Strategy disclosed that it resumed Bitcoin acquisitions following a two-month pause. On Thursday, the company’s stock surged more than 15% to trade above $142.09, standing approximately 31% higher than its 200-day simple moving average of $107.94.
In addition to its crypto exposure, Strategy announced a new initiative with Google Cloud. The companies have launched the AI Transformation Forum, a series of executive events in seven US cities aimed at helping organizations scale artificial intelligence with trusted data and governance frameworks. Forums are scheduled for New York City, Boston, Washington, D.C., Sunnyvale, Chicago, Dallas, and Atlanta this fall, with plans to address topics such as enterprise data, AI governance, semantic layers, token and compute efficiency, and the transition from pilot projects to full-scale production.
Mini dictionary: Strategy Inc. is a Nasdaq-listed business intelligence and cloud software firm best known for its large institutional Bitcoin holdings, which directly influence its share price in response to movements in the cryptocurrency market.
Coinbase extends rally as derivatives launch in CanadaCoinbase Global Inc., described as the largest crypto trading exchange in the United States, also gained from the surge in digital asset prices. Coinbase shares jumped by more than 10% to trade above $193. The company launched derivative contracts in Canada on September 2, expanding its reach into North American markets.
The move came as major cryptocurrencies posted notable gains. Ethereum rose 4.5% to $2,497.93, while XRP appreciated approximately 9% to $1.45.
Coinbase’s recent launch of derivatives in Canada has enhanced its international presence while the firm benefited from the rebound in Bitcoin, Ethereum, and $XRP.
CompanyStock GainCurrent PriceStrategy Inc.+15%$142.09Coinbase+10%$193Circle Internet Group+15%$102Bitmine Immersion Technologies+13%$26Robinhood Markets+15%$124Galaxy Digital+11%$26The positive momentum spread across a range of crypto-linked stocks. Circle Internet Group shares climbed more than 15% to above $102, while Bitmine Immersion Technologies rose 13% to above $26.
Robinhood Markets advanced more than 15% to over $124 after Morgan Stanley increased its price target from $124 to $150. Galaxy Digital shares gained over 11% to reach $26, following Morgan Stanley’s price target revision from $37 to $48.
These gains came as the digital asset sector recovered from recent declines, with Bitcoin’s move above $80,000 offering a more favorable backdrop for companies involved in cryptocurrency trading, holdings, and associated services.
For Strategy and Coinbase, Thursday’s rally coincided with a stronger crypto market, as investors responded to shifting expectations around US monetary policy and overall financial conditions.
Pi Network price rose 3% to $0.0964 over 24 hours as traders anticipated Protocol 27 and its native DEX.
Bitcoin price jumped 5% above $81,200, while Ethereum crossed $2,500 and XRP gained 10% following the crypto market recovery.
PI’s smaller increase suggests traders remain cautious before the September 15 upgrade. The rollout could test whether Pi’s verified community can support meaningful activity.
Pi Network Protocol 27 Mainnet Upgrade Targets September 15 Pi Network price completed its Protocol 26 mainnet upgrade on August 11, strengthening smart contract security, state management, and cryptographic functions.
The milestone followed nine mandatory upgrades since open mainnet began in February 2025. The network reported 421,000 active nodes after Protocol 26.
Protocol 27 began deployment on Testnet 1 on August 21. Developers are targeting September 15 for its mainnet release.
Pi describes Protocol 27 as the final planned infrastructure upgrade. It should introduce automated market maker pools and smart contract authentication.
🟣🚀 Pi Network is entering an important phase!
Protocol 27 is reportedly targeted for September 15, with DEX and AMM developments on the horizon. 🔥
Will Pi’s ecosystem finally see a major utility breakthrough? 👀
Pioneers, stay focused! 💜⚡#PiNetwork #PiCoreTeam #PiCoin… pic.twitter.com/zFkAEWGAvA
— Brice crypto (@icenetwork23) September 3, 2026
The release also includes RPC server infrastructure supporting applications and decentralized trading.
OpenPay reached mainnet on August 27 and restored cash-in on September 1. App Studio hosts over 7,900 AI-built applications. Pi reports 17.7 million KYC-verified Pioneers.
Pi DEX Launch Could Test Real Demand Across the Ecosystem Pi’s planned exchange will combine an order book with automated market maker liquidity. The model was tested through the SLICE token launch.
Between June 11 and June 28, roughly 242,000 Pioneers committed 15.92 million Test-Pi.
That participation showed interest, although test tokens carry no direct market risk. Mainnet activity will provide a more powerful demand indicator.
The DEX might show that trusted users liquidate, trade assets, and ecosystem tokens. Sustained volume would strengthen Pi’s utility argument.
Weak participation could show that a large registered community does not automatically create an active economy. That distinction remains central to Pi’s outlook.
Since Pi2Day in June, the project has emphasized payments, identity, computing, and artificial intelligence. The DEX represents its biggest commercial test.
Pi Network Price Prediction: Key Levels to Watch Pi Coin price traded near $0.09645 on September 3 after recovering from support around $0.09. It gained 2% during the latest four-hour period.
Pi Network price is now nearing resistance at $0.10, where prior gains failed. There is a broader resistance band between $0.10 and $0.11.
The Relative Strength Index stood at 74.22, which indicated that it was overbought. However, the MACD continued supporting a bullish outlook.
A confirmed break above $0.10 could open a move toward $0.11 as per the detailed Pi coin price analysis. Continued strength may expose the next resistance around $0.12.
Source: TradingView Failure at $0.10 could produce another consolidation phase. Initial support stands near $0.095, matching the latest candle’s lower range.
A sustained drop below $0.095 would return attention to $0.09. The anticipation of Protocol 27 can potentially favor sentiment, yet implementation will determine the future action of PI.
The total crypto market cap climbed to $2.7 trillion, up 0.9% over 24 hours, with $73.5 billion in trading volume. But the headline number hides a clear divergence. Bitcoin is up just 2% over the past 24 hours, while several altcoins are posting far stronger moves.
Zcash Leads the Comeback
Zcash has emerged as one of today’s standout performers, up 6.3% in 24 hours and 8.2% over the week to trade at $851.99. XRP is close behind, up 4.8% on the day to $1.39, with a 7-day volume of $2.59 billion. BNB also outpaced Bitcoin, gaining 4.5% to reach $711.78. Ethereum sits at $2,426.89, up 1.9% daily and down 3.1% weekly, while Solana gained 3.8% to $101.47.
Why the Rotation Is Happening
Several macro threads are feeding into today’s move. Gold futures surged above $4,500 an ounce, adding more than $1 trillion in market cap in a single day, as inflation expectations mounted alongside rising oil prices.
Inflation has now stayed above the Fed’s 2% target for 65 consecutive months, framing the broader rally across commodities as a signal that the US dollar is losing purchasing power in real time.
Labor market data added fuel to rate-cut expectations. Jobless claims came in at 206,000 against a forecast of 205,000, while ADP payrolls rose just 38,000 versus an expected 47,000.
Kobeissi called it a “double miss” that strengthens the case for a Fed rate cut, a dynamic historically supportive of risk assets including crypto, while pressuring Treasury yields and the dollar. Friday’s official jobs report remains the next major catalyst for markets.
ETF Flows Stay Positive for Bitcoin
Despite Bitcoin’s comparatively slower price action, institutional demand hasn’t dried up. According to Wu Blockchain, US spot Bitcoin ETFs pulled in $101 million in net inflows on September 2, led by BlackRock’s IBIT with $115 million. Spot Ether ETFs saw the opposite trend, posting $48.08 million in net outflows, even as BlackRock’s Staked ETH ETF attracted $52.91 million.
A Seasonal Wildcard
Analyst and trader Crypto Rover flagged a historical pattern worth watching. Bitcoin has just entered September, historically its weakest month, with an average return of -2.92%. October, by contrast, has been stronger, averaging +19.92% and posting gains in 10 of the last 13 years.
What It Means
Today’s move looks less like a broad Bitcoin-led rally and more like capital rotating into altcoins, Zcash, XRP, and BNB in particular, while Bitcoin consolidates near recent highs. With inflation running hot, gold surging, and labor data reinforcing rate-cut bets, the setup heading into Friday’s jobs report could determine whether this rotation extends or Bitcoin reclaims its usual leadership role.
Story Ends Here
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According to Reuters, global banking giant Standard Chartered announced the launch of its Bitcoin and Ethereum spot trading service for its corporate clients in the United Arab Emirates (UAE).
The bank thus became the first global bank to offer direct cryptocurrency spot trading to institutional clients in the Gulf country.
The new service is offered through Standard Chartered’s operations at the Dubai International Financial Centre (DIFC). The bank aims to expand institutional investors’ access to the cryptocurrency market through traditional financial infrastructure.
Standard Chartered’s move to the UAE stands out as part of its strategy to expand its activities in the digital asset space. The bank had already begun offering spot trading services for BTC and ETH to institutional clients in the UK in 2025.
Solana Accounts for One-Fifth of Stablecoin Transactions! While Standard Chartered UAE drew attention with its BTC and ETH moves, the bank’s Head of Digital Asset Research, Geoff Kendrick, made statements about Solana.
Speaking on Solana’s official podcast, “House of Sol,” Kendrick highlighted Solana’s strong position in the stablecoin market.
Kendrick stated that approximately $7 trillion worth of transactions are processed monthly via stablecoins, and the Solana network handles about one-fifth of these transactions.
According to Kendrick, this ratio highlights not only the network’s role in decentralized finance and cryptocurrency trading, but also its growth in payment and stablecoin-based use cases.
Kendrick also noted that Solana’s low transaction costs and high transaction capacity are among the key factors that enable the network to stand out in stablecoin and micro-payment applications.
*This is not investment advice.
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Bitcoin has now surpassed 79,900 dollars after Wednesday’s drop. BTC trades around 79,800 dollars, with a rise of more than 2% during the day. The movement also benefits several altcoins. Arbitrum continues its rally. The dollar declines in parallel and gives some breathing room back to risky assets.
In brief Bitcoin surpassed 79,900 dollars during the day. The Altcoin Season Index remains far from the threshold of a true altseason. Bitcoin now surpasses 79,900 dollars The rebound extends an already very strong August. Bitcoin gained nearly 25% and recorded its best August in nine years. On Thursday, BTC accelerated beyond levels seen a few hours earlier. The intraday high reached about 79,926 dollars. Bitcoin thus returns very close to 79,000 dollars after starting the day around 77,000 dollars.
The dollar helps. The DXY index declines while US stocks, gold, and several cryptos advance in parallel. Bitcoin ETFs remain more hesitant however. They recorded net outflows of 9.3 million dollars on Wednesday, after 239 million the day before.
On derivatives, positioning remains relatively light. Options show more optimism. Bitcoin calls at 82,000 and 84,000 dollars are among the most traded contracts on Deribit. Traders are therefore starting to look higher again.
Arbitrum accelerates much faster Bitcoin advances. Some altcoins run. Arbitrum also remains well oriented. ARB gained nearly 17% over 24 hours during Thursday’s first move, with a daily volume close to 486 million dollars.
A week earlier, this volume hovered around 50 million. ARB’s open interest also reached a record around 1.58 billion tokens. Other cryptos progress more slowly. Monero remains in the green. Pump.fun also advances. Uniswap is among the exceptions after its strong previous rally.
The performance of some altcoins gives the impression of a general rotation. The market is not there yet. The Altcoin Season Index remains much below the threshold of 75 generally used to talk about altseason. A large part of the main cryptos still must outperform Bitcoin over an extended period.
Bitcoin keeps its role as the locomotive on its side. Crossing 79,900 dollars now brings BTC closer to the 80,000 dollar zone, already tested several times since late August. Above lies the resistance observed around 82,800 dollars.
Altcoins are nevertheless beginning to attract more capital. The movement is not new: at the end of August, nearly 65% of volumes on Binance were already concentrated on altcoins, their highest level in two years.
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Lydie M.
Enseignante et ingénieure IT, Lydie découvre le Bitcoin en 2022 et plonge dans l’univers des cryptomonnaies. Elle vulgarise des sujets complexes, décrypte les enjeux du Web3 et défend une vision d’un futur numérique ouvert, inclusif et décentralisé.
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.
@Polymarket has officially launched Polymarket Perps, a perpetual futures platform that lets users trade with up to 20x leverage across crypto assets, global equities, and commodities through a single unified interface.
From Prediction Market to Derivatives Hub The rollout effectively transitions @Polymarket from a niche prediction market into a comprehensive decentralized derivatives venue.
Assets and Market CoveragePopular crypto assets integrated at launch include $BTC, $ETH, $ADA, $SUI, and $BNB, alongside exposure to broader financial markets.
The timing of the full rollout is notable. and Expanding into perpetuals puts @Polymarket squarely in competition with established crypto derivatives platforms, as well as rival prediction market operator Kalshi, which has signalled a similar product push.
Sources:
Crypto Briefing: Polymarket rolls out perps trading with up to 20x leverage
Yahoo Finance: Polymarket Unveils Perpetual Futures In Time To Beat Kalshi's Crypto Launch
CNBC: Polymarket launches trading of heavily leveraged perps contracts
Bitcoin (CRYPTO: BTC) is back above $80,000 after Fed Governor Christopher Waller said he is willing to hold rates steady at the Sep. 15 meeting.
Waller Backs September Rate Hold as Inflation CoolsAs Benzinga reported Thursday, Waller told Reuters that he supports holding rates provided August inflation does not surprise to the upside.
“If there is continued progress toward our 2% goal, then I am willing to support holding the policy rate at its current level,” Waller said, adding that a hot inflation print would put a hike back on the table.
His case rests on the three-month core inflation run rate falling from 4.76% in February to 3.05% through July, a pace he called encouraging despite annual PCE still running at 3.3%.
Trending
Fed futures currently price in a 51% chance of a September hike according to CME FedWatch, making August CPI the swing input for markets.
Bitcoin Jumps 5% and Challenges $82,207 ResistanceA rate hold removes one of the most immediate headwinds for risk assets. BTC surged 5% to $80,600 Thursday, pushing into the resistance band that has capped price since May.
Moreover, RSI at 71.27 confirms genuine momentum behind the move with the 20-day EMA at $75,164 sitting well below as fresh support.
Key levels for BTC: $82,207 — 1.0 Fib resistance, close above opens path to $97,278 $76,983 — 0.786 Fib, first support on any pullback Ethereum (CRYPTO: ETH) and XRP (CRYPTO: XRP) are up 4% and 8%, respectively, on the news.
XRP is breaking decisively out of the descending triangle that compressed price for two weeks after August’s spike to $1.70.
RSI at 72.46 matches the sharpest reading since the initial August 19 breakout, with the EMA cluster at $1.37 now flipping to support below.
Key levels for XRP: $1.50 — next psychological resistance $1.37 — EMA cluster, breakout retest support Read Next
Image: Shutterstock
Market News and Data brought to you by Benzinga APIs
Bitcoin (BTC) reclaimed $81,000 on Thursday as reports suggest the Iran war could be over. Reportedly, Donald Trump’s inner circle is advising the president to declare the war officially over, as pressure over midterm elections grows.
Meanwhile, Fed Governor Christopher Waller signaled he could back a September rate hold, further exacerbating the Bitcoin rally.
Bitcoin Price Breaks Out Massive Rally. Source: CoinGeckoBitcoin Rallies as Iran War Talk ShiftsThe Wall Street Journal reported the private talks on Thursday. Trump reportedly thinks economic pressure alone will force Tehran to concede.
However, senior aides warned that more escalation could cost Republicans the November midterm elections.
BREAKING: President Trump is having private discussions with senior aides about potentially declaring the Iran War over, per WSJ.
Aides are reportedly advising President Trump that an escalation of the war beyond recent strikes could cost Republicans the midterm elections.
— The Kobeissi Letter (@KobeissiLetter) September 3, 2026 Bitcoin has traded this war closely, sliding below $77,000 on Tuesday after Trump confirmed fresh strikes near the Strait of Hormuz. So Thursday’s bounce fits the pattern.
The oil market, however, read the same day very differently. Brent crude rose toward $98 a barrel. That is a six-week high, not a peace trade.
Bitcoin and Brent Crude Price Performances. Source: TradingViewIran struck US military bases overnight. Israel also signaled it could resume operations. Trump has said publicly that the new fighting will not last long. The private talks match that message.
Tanker traffic says the same thing. Six commodity vessels crossed Hormuz on Wednesday, against a 10-day average near 13.
Six commodity vessels transited the Strait of Hormuz on Wednesday, down from 11 a day earlier and well below the 10-day average of around 13, preliminary shipping data showed on Thursday.https://t.co/9DYJgjTXzS
— Arab News (@arabnews) September 3, 2026 Meanwhile the Pentagon is digging in, with the army air-defense tours reportedly stretching from nine months to twelve, and some units could stay into 2027.
Waller Adds a Second Tailwind for BitcoinBeyond Trump. Fed Governor Waller also moved markets on Thursday, weeks after policy makers split nine to three in July, with three officials pushing for a hike.
He said three-month core inflation slowed to 3.05% through July. It ran at 4.76% in February. Therefore Waller leans toward holding rates if August confirms that trend. A hot print would flip him.
“…it may not take much acceleration in inflation to nudge me into supporting tighter policy,” read an excerpt in his remarks.
Against this backdrop, CME FedWatch put September hike odds at 50.2%. That is down from 63.2% a day earlier, and below the rare Fed hike odds priced in late July.
September Interest Rate Probabilities. Source: CME FedWatch ToolSo will $80,000 hold? The recent record argues for caution. Brent fell 9% intraday on August 2 when Trump announced talks to reopen Hormuz.
However, that trade unraveled quickly. Trump said Gulf states and Iran had asked him to delay a strike, and Iran’s Fars news agency denied it.
Oil is now back near $98. The war is in its sixth month. Trump has picked no strategy yet. Waller’s vote waits on August inflation. That leaves the Bitcoin price above $80,000 resting on two maybes.
Therefore, renewed strikes or a hot print would likely drag BTC toward Thursday’s $76,963 low.
Strive Inc. (ticker: ASST) held 23,156 BTC as of August 28, positioning it among the top five publicly traded Bitcoin holders globally. CEO Matt Cole has signaled that the company could push well past 27,000 BTC before the year closes out.
From 5,000 to 23,000 BTC in under a year In fall 2025, the company held roughly 5,000 BTC. By June 2026, that figure had crossed 20,000, vaulting Strive into the top five among public companies.
During the last week of August alone, Strive scooped up 1,800 BTC for approximately $143 million.
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The firm came into existence through a reverse merger with Asset Entities and the acquisition of Semler Scientific, a combination that gave it both a public listing and a clear mandate: accumulate Bitcoin.
The financing trick that makes it work Rather than taking on debt or diluting common shareholders through secondary offerings, the company uses its Variable Rate Series A Perpetual Preferred Stock, trading under the ticker SATA.
By June 2026, Strive had expanded SATA’s capacity by $4.2 billion. The result is a balance sheet that carries zero debt while maintaining ample reserves for preferred stock dividends.
TD Cowen raised its year-end BTC forecast for Strive to 27,156, reflecting confidence in the firm’s treasury trajectory, and analysts there have also bumped up their stock price targets accordingly.
Cole’s thesis: Bitcoin’s strongest cycle yet Matt Cole has described the current market environment as potentially Bitcoin’s strongest cycle to date, pointing to structural demand for scarce assets amid persistent inflationary pressures.
The risks are real. Bitcoin’s price could decline substantially, leaving Strive holding a depreciating asset while still owing preferred dividends.
With 23,156 BTC already on the books and a stated target that implies acquiring another 4,000 or more coins before December, Strive is making one of the largest concentrated bets on Bitcoin in corporate history.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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.
Strategy (MSTR) chairman Michael Saylor has drawn a direct analogy between accumulating cryptocurrency and an aristocratic sport. The billionaire posted a 25-second video filmed on a golf course, where he methodically sinks balls into holes while wearing a business suit in front of an audience.
The main message of the post is that investing in Bitcoin requires the same discipline and composure as playing the strategic "long game" on green fairways, where success depends on the ability to keep "eagling it again." Saylor states directly in the video that "rich people like to buy Bitcoin" and "buying Bitcoin makes you rich," summing up his actions with a concise remark: "I need to buy some Bitcoin."
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This philosophy is supported by the company's September report. With $66 billion in Total Reserve Capital (TRC), Strategy ranked second among financial companies in the S&P 500, behind only Berkshire Hathaway, with $364 billion.
Michael Saylor's post comparing Bitcoin strategy to a game of golf, Source: Michael Saylor via X.comTraditional giants such as JPMorgan Chase (-$1.347 trillion) and Citigroup (-$619 billion) fell deep into negative territory due to the inclusion of customer deposits, while Strategy's reserve coverage ratio reached a record 10.75x.
Strategy overpays for Bitcoin — and believes it is the right thing to doA recent management maneuver that surprised short-term investors provided a practical example of this logic. During the summer, Strategy sold about 7,000 BTC at prices ranging from $60,000 to $65,000, before buying back 4,603 BTC in late August at $80,318 per coin, for a total of $370 million.
Strategy CEO Phong Le fully supported Saylor's position, saying in an interview with Bloomberg that the company's decisions depend "not on the Bitcoin rate, but on the cost of capital."
According to him, the summer sale covered obligations related to preferred shares, while the August price surge allowed Strategy to raise $602.8 million in inexpensive funding from the stock market for new purchases. Le emphasized that the company would continue buying even at $100,000 because "the asset is bought whenever financing conditions allow it."
Strategy currently holds 845,050 BTC, worth approximately $65.2 billion at a price of $77,200, as well as $6.7 billion in cash.
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Although independent analysts note that the TRC metric does not account for $14.8 billion in preferred-share obligations — excluding them would reduce net reserves to $50.7 billion — Wall Street increasingly views Strategy not as a speculative fund, but as a flexible "two-way capital management company" operating exclusively with a long-term horizon.
Bitcoin (CRYPTO: BTC) could hit $90,000 by October if September ends up being a positive month, according to market analyst Erik Crown.
The former NYSE market maker told Cointelegraph on Wednesday that he spotted all the signals he needed to call a bottom around Bitcoin’s $60,000 July low:
Crown argued that this kind of extreme apathy has historically preceded major reversals, pointing to 2015, 2019, and 2022 as prior examples.
He also flagged a simple but compelling statistic: any time Bitcoin traded more than 50% below its previous high, the median return one year later was 116%, rising to 337% at the two-year mark with a 96% win rate.
Green September Could Set Up $90,000 in OctoberCrown laid out his roadmap based on historical September and Q4 data going back to CME futures listing in 2018.
Trending
When September closes green, Bitcoin has historically averaged about 6.5% gains up to the quad witching date, which would put price around $83,222, clearing the May swing high at $82,800 and flipping the weekly trend definitively bullish.
A weekly higher high at that level, Crown argued, makes a return to a downtrend highly unlikely.
From there, October’s median return of roughly 12% applied to an $80,000 starting point puts Bitcoin above $90,000.
A green Q3, which Crown considers highly probable, has historically led to Q4 median gains of nearly 28%, pointing toward six figures before year end.
Why Crown Is Cautious on AltcoinsCrown added that almost every altcoin eventually goes to zero after its first cycle, with rare exceptions like Ethereum (CRYPTO: ETH).
He agreed with the emerging view that the next altcoin winners will be revenue-generating protocols with tokenomics that return value to holders, citing Hyperliquid as measured by Hyperliquid Strategies (NASDAQ:PURR) and Uniswap (CRYPTO: UNI) as examples.
He noted that even in prior cycles, only a few specific sectors like AI agents and memecoins produced real returns, rather than a broad everything rally like 2017.
His broader point: timing matters far more with altcoins than with Bitcoin, and most holders end up giving back gains by holding too long.
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt.
GM!
Today’s top news:
Crypto majors rebound 1-3% as bonds cool; BTC at $77.9k BTC ETF inflows flip positive with $100M; ETH ETFs break 3-week inflow streak Kraken parent Payward pushes IPO to Q2 2027 at earliest Binance records $1B in stablecoin inflow in August, reversing 2026 trend PONS soars 40% and enters top 100 coins by market cap 🔁 Strategy CEO Says Selling The Bottom Was Correct Move
Strategy sold 6,916 BTC across four tranches from late June through mid-August at a weighted average near $62,200. Last week it bought 4,603 BTC at an average of $80,318. CEO Phong Le went on Bloomberg Crypto on Wednesday and said both were the right call.
His argument is that Bitcoin’s price wasn’t the input. The company sold to fund STRC dividends when issuing shares had gotten expensive, and it’s buying now because MSTR trades at a premium again. During the two-month pause it took assets to $72 billion, built roughly $7 billion in dollar reserves, and cut net debt from about $7 billion to zero. A stronger balance sheet makes equity cheaper to issue, which makes buying Bitcoin with it work.
Le also pushed back on the size of the story. The sale was under 1% of holdings, which have grown 25% to 30% this year, and the company now holds 845,050 BTC worth roughly $65.4 billion. He went further to say that a one-way accumulator isn’t a full operating company, and buying and selling Bitcoin, equity, and preferreds is what makes one. He called Strategy a two-way capital management company.
The key mechanism here is STRC, the variable-rate preferred that Strategy adjusts to keep near its $100 stated value. When it slipped below par in June, the funding route closed and Bitcoin became their only shot to try for a repeg (it still hasn’t repegged by the way). Le is right that it was a financing decision. He’s also describing a company whose Bitcoin purchases depend on its stock premium, which depends on Bitcoin. It’s a difficult 3-body problem to manage and clearly they’ve opted to give MSTR equity holders the worst deal. But perhaps in a bull market, all the moves pay off in spades. Hopefully we’ll find out soon enough…
🌎 Macro Crypto and Markets Crypto majors were green up 2-3%; BTC +1.3% at $77.9k; ETH +1% at $2,400; SOL +2% at $101; HYPE even at $82 Top alt movers include PONS (+36%), ARB (+25%) and LIT (+10%) Oil +3% at $93; Gold +2 at $4,470 Stock futures are flat as bond yields cool; DOW +0.1%, Nasdaq -0.2% Glassnode said Bitcoin stays range-bound until it absorbs the $83,000 to $86,000 band, where roughly 1.05 million coins held by long-term holders sit near breakeven, with $62,000 to $65,000 as the floor Kraken parent Payward pushed its IPO to the second quarter of 2027 at the earliest, extending a freeze that began in March after a November 2025 confidential filing Binance recorded over $1B in stablecoin inflows in August, reversing a trend that had seen $6B+ exodus previously in 2026 HYPE entered a US crypto index ETF for the first time, joining Hashdex's NCIQ at a 3.4% weighting as the fund's fifth-largest holding behind Bitcoin, Ethereum, XRP, and Solana New Jersey asked the Supreme Court to rule on whether states can police prediction markets’ sports contracts, the first such petition after the Third and Ninth Circuits split on the question Two Thai businessmen sued Tether over a $42.4 million USDT freeze they say came at a Homeland Security agent’s informal request, more than three months before any seizure warrant was issued Corporate Treasuries & ETFs
The Bitcoin ETFs saw $101M in net inflows on Wednesday; the ETH ETFs saw $48M in outflows, breaking a 3-week green streak Meme Coin Tracker
Meme leaders were green up 2-4%; DOGE +3%, SHIB +2%, PEPE +2%, PENGU even, TRUMP +2%, SPX -3% Robinhood chain leaders were very green as Pons soars; PONS +43%; Cashcat +1%; AI +25%; Index +72%; Microduck +25%; Nudes, Peptides and Hotdog were other big runners Solana was led by Useless +50% and TripleT +30%; Ansem even at $240M 💰 Token, Airdrop & Protocol Tracker Robinhood Chain did $4M in chain revenue for the first time, while DEX volumes ($1.8B) and RWA chain value ($100M) hit new ATHs Pons hit new ATHs in daily trading volume ($544M) and daily revenue ($1.1M) whild adding $880k to its buyback fund Pump.fun did $1.8M in daily revenue while Hyperliquid did $1.73M 🚚 What is happening in NFTs? NFT leaders were mostly flat; Punks -1% at 31.5 ETH, BAYC -1% at 7.45 ETH, Pudgy +1% at 3.9 ETH Argonauts (+35%), Identity MD (+40%) and Chain Mancers (+20%) led top movers Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Bitcoin price held near $77,700 on Sept. 3 after recovering from an intraday low around $76,264, but weakening spot demand and $236.5 million in US ETF outflows kept the rebound under pressure.
Summary
Bitcoin price recovered above $77,000 after buyers defended the $76,000–$76,500 liquidity zone. US spot Bitcoin ETFs recorded $236.5 million in net outflows during the latest session. A falling wedge places immediate resistance near $78,000, followed by $79,500 and $80,300. Positive daily money flow and stronger Aroon readings show sellers have not regained full control. Bitcoin price holds above $77,000 According to data from crypto.news, Bitcoin (BTC) price traded around $77,700 at the time of writing, up about 1.2% over 24 hours after moving between $76,264 and $78,184.
The recovery followed another test of the $76,000 area, where the CoinGlass one-week liquidation heatmap showed a large concentration of leveraged positions. Buyers prevented a sustained break below that zone, allowing Bitcoin to move back toward $78,000.
Price action on the 4-hour chart remains compressed inside a falling wedge. The upper boundary sits near $78,000, while the lower trendline approaches $76,000. Falling wedges can precede an upside move, but Bitcoin has not confirmed a breakout.
Bitcoin price 4-hour chart — Sep. 3 | Source: crypto.news The pattern developed after BTC repeatedly failed to hold above $80,000 in late August. The market has since formed lower highs while continuing to find demand between $76,000 and $77,000.
ETF outflows add to weaker Bitcoin demand SoSoValue data showed that US spot Bitcoin ETFs recorded $236.46 million in net outflows during the latest reported trading session. Bitwise’s BITB was the only fund to post a net inflow.
The withdrawals removed a source of spot buying as Bitcoin struggled to recover above $78,000. They also followed signs that the demand supporting the August rally was beginning to fade.
CryptoQuant analyst Darkfost reported that Bitcoin’s apparent demand turned negative again on Sept. 2. The metric compares newly mined supply with changes in inactive holdings to estimate whether the market is absorbing available coins.
Market analyst Rain said the negative reading indicated that newly issued and previously inactive Bitcoin was no longer being absorbed at the same pace. Rain linked the change to BTC’s brief decline toward $76,400 and warned that continued weakness could turn $77,000 from support into resistance.
Demand data alone does not determine Bitcoin’s next move, but negative readings combined with ETF withdrawals leave the market more dependent on short-term buyers.
Bitcoin liquidity builds on both sides The CoinGlass heatmap showed the nearest large downside liquidity cluster around $75,900–$76,200. A break below that area could trigger forced selling and expose $74,000, followed by the 4-hour breakout base near $72,000.
Bitcoin liquidation heatmap | Source: CoinGlass Larger pools of liquidity sit above the current price. The first cluster appears around $78,500–$78,800, with a denser band near $79,500. Further concentrations are visible between $80,000 and $80,500 and around $81,500.
Those levels could attract price if Bitcoin clears the falling wedge, but they may also act as resistance as leveraged traders close positions.
An analyst posting as Crypto with Haris identified $76,000 as the key short-term support. He projected a move toward $73,000 if that floor breaks and said his bearish view would be invalidated if Bitcoin reclaimed and held the $80,000–$83,000 range. His targets represent a personal forecast rather than a confirmed market outcome.
Technical indicators favor consolidation Bitcoin’s 4-hour relative strength index stood at 48.66, slightly above its signal average of 43.95. The reading reflects neutral momentum and gives BTC room to move in either direction without entering overbought or oversold conditions.
The Aroon Up indicator registered 57.14%, compared with 7.14% for Aroon Down. The gap suggests recent highs are forming more frequently than new lows, giving buyers a limited short-term advantage despite the declining price channel.
The daily chart carries a stronger structure. Bitcoin remained above its 20-day simple moving average at $74,622 and well above the 50-day average at $68,428. The 100-day and 200-day averages stood near $66,303 and $69,586, respectively.
Bitcoin price daily chart — Sep. 3 | Source: crypto.news Chaikin Money Flow was positive at 0.32, showing that buying pressure continued to exceed selling pressure on the daily timeframe. The reading conflicts with the weaker apparent-demand signal, indicating that capital flow and on-chain demand have not deteriorated uniformly.
A 4-hour close above $78,000 would break the wedge’s upper trendline and put $79,500–$80,300 back in focus. Bitcoin would then need to clear the May resistance area near $82,800 to strengthen the broader recovery.
Failure to hold $76,000 would weaken the pattern and raise the risk of a move toward $74,000 and $71,800.
Fed rate expectations remain a US risk US monetary policy remains another source of uncertainty for Bitcoin. Markets assigned about a 64% probability to a 25-basis-point Federal Reserve rate increase at the Sept. 16 meeting, following Chair Kevin Warsh’s warning about persistent inflation.
The 10-year Treasury yield remained near 4.8%, giving investors a higher-yielding alternative to non-yielding assets such as Bitcoin. Reuters reported that government debt, capital demand linked to artificial intelligence investment, and expectations for a higher neutral interest rate were contributing to pressure in the bond market.
For US traders, the immediate setup centers on the $76,000–$78,000 range. A confirmed move outside the falling wedge would provide a clearer signal, while ETF flows and the Sept. 16 Fed decision could determine whether Bitcoin challenges $80,000 or returns toward lower support.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Bitcoin (CRYPTO: BTC) is increasingly trading like digital gold, a shift Bitwise Europe Research Director André Dragosch says reflects changing investor perceptions of BTC.
Is Bitcoin Decoupling From Stocks?In Bitwise’s weekly investor memo published Wednesday, Dragosch pointed to August’s market reaction following rising long-term Treasury yields and intervention by U.S. Treasury Secretary Scott Bessent as rationale for his thesis.
Bitcoin surged 22.4% in its strongest week since March 2024, while gold gained about 5% despite falling stocks, pushing their three-month correlation to its highest level since the 2020 pandemic stimulus era.
The shift isn’t limited to Bitcoin’s relationship with gold.
Dragosch noted that BTC’s correlation with stocks has fallen to a one-year low, challenging the argument that Bitcoin simply behaves like a leveraged technology investment.
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Correlation with the U.S. Dollar Index, meanwhile, is significantly negative.
This suggests dollar weakness has increasingly benefited both BTC and gold, and investors are grouping the two assets together when concerns about monetary policy, government debt and currency debasement intensify.
Will BTC Become the ‘Amplified Version of Gold?’Dragosch stressed that Bitcoin and gold remain fundamentally different assets.
Gold has served as a store of value for thousands of years, while Bitcoin is a technology less than two decades old and remains considerably more volatile.
But during periods of intense macroeconomic stress, investors appear to be making less distinction between the two.
"In those scenarios, BTC has recently started to look like an amplified version of gold," Dragosch wrote, potentially having implications for Bitcoin’s potential addressable market.
Gold’s roughly $30 trillion market is supported by central banks, sovereigns and large institutional allocators, a substantially larger capital pool than the crypto-native and venture capital that historically helped price Bitcoin.
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Michael Saylor, chairman of business intelligence firm Strategy (MSTR), recently compared the process of accumulating cryptocurrency to an aristocratic sport, emphasizing the discipline and patience required for long-term success. Saylor shared a 25-second video filmed on a golf course, showcasing himself methodically sinking golf balls while dressed in a business suit and observed by an audience.
Saylor’s Message: The Discipline of Bitcoin InvestmentIn the video, Saylor drew a direct parallel between investing in Bitcoin and playing golf’s “long game,” suggesting both pursuits demand strategic thinking and mental composure. He remarked, “Rich people like to buy Bitcoin” and added, “buying Bitcoin makes you rich,” concluding with, “I need to buy some Bitcoin.” The video captured Saylor’s conviction in Bitcoin as a central wealth-building tool for high-net-worth individuals.
Success on the green requires discipline and patience, qualities Saylor believes are equally crucial for accumulating wealth through Bitcoin investments.
Strategy’s investment approach is consistent with its September report, which positions the company with $66 billion in Total Reserve Capital (TRC). This amount ranks Strategy second among S&P 500 financial companies, just behind Berkshire Hathaway’s $364 billion in TRC.
Other major financial firms, such as JPMorgan Chase and Citigroup, showed negative TRC of -$1.347 trillion and -$619 billion respectively, attributed to the inclusion of customer deposits. In contrast, Strategy reported a high reserve coverage ratio of 10.75x, highlighting the company’s strong financial position relative to industry peers.
CompanyTotal Reserve Capital (TRC)Reserve Coverage RatioBerkshire Hathaway$364 billionN/AStrategy (MSTR)$66 billion10.75xJPMorgan Chase-$1.347 trillionN/ACitigroup-$619 billionN/AStrategy’s Aggressive Bitcoin Buying ContinuesDuring the summer, Strategy executed a notable trading maneuver by selling approximately 7,000 BTC at prices between $60,000 and $65,000 per coin. Later, in August, the company bought back 4,603 BTC at a higher price of $80,318 per coin, amounting to $370 million in purchases.
Phong Le, CEO of Strategy, supported this approach in an interview with Bloomberg. He stated that the company bases its decisions not on the current price of Bitcoin but on the cost of capital. Le explained that the earlier sale of Bitcoin was used to cover obligations related to preferred shares, while the surge in price in August allowed Strategy to secure $602.8 million in affordable market funding for new acquisitions. He noted that the company would continue buying Bitcoin even if prices reach $100,000, as purchases are tied to favorable financing conditions.
Strategy now holds 845,050 BTC, with a market value of approximately $65.2 billion at a Bitcoin price of $77,200, and maintains $6.7 billion in cash reserves.
Industry observers have pointed out that Strategy’s TRC does not factor in $14.8 billion in preferred-share obligations. If these obligations are deducted, net reserves would decrease to $50.7 billion. Despite this, Wall Street increasingly regards Strategy as a long-term oriented, dual-capital management company rather than a speculative investment fund.
Mini dictionary: Strategy (MSTR) is a US-based business intelligence firm best known for its large-scale investments in Bitcoin and its long-term commitment to digital asset accumulation. The firm’s financial moves often set benchmarks for corporate Bitcoin adoption.
On-chain analyst Willy Woo says the Bitcoin (BTC) 4-year cycle may be ending. In a post on X, he argued the market could adopt the 6-8 year debt cycle of traditional finance (TradFi).
The claim lands with Bitcoin near $78,011 after an August rebound. The coin had lost roughly half its value from the October 2025 peak of $126,198.
Why the Bitcoin 4-Year Cycle May Have Lost Its EngineHistorically, each halving cut the pace of new supply in half and reset Bitcoin’s four-year cycle. That recurring supply shock was strong enough to move the price on a fixed schedule. Woo now believes the mechanism has become too small to matter.
BTC MOVES TO A 6-8 YEAR CYCLE?
BTC has been locked into the gravity of a 4 year orbit… it was subject to strong internal forces of its halvening… a clockwork 4yr supply rate shock.
Meanwhile TradFi is on a 6-8 year short term debt cycle.
Given BTC's internal forces are de…
— Willy Woo (@willywoo) September 3, 2026
Issuance has run near 0.8% of supply since April 2024, and the 2028 halving will cut it to roughly 0.4%. For comparison, gold miners added about 1.7% to above-ground stock in 2025, based on World Gold Council data. Bitcoin’s supply engine is therefore already weaker than gold’s.
Fidelity Digital Assets reached a similar conclusion in February. Its research found volatility declining even as Bitcoin set record highs, behavior it links to maturation. Spot exchange-traded funds (ETFs), which existed in no prior halving cycle, add to that structural break.
Inside TradFi’s 6-8 Year Debt CycleCrypto traders know the halving as a supply event. The debt cycle, in contrast, is a demand and liquidity event, and it is the rhythm that stock and bond markets already trade on.
Economist Ray Dalio popularized the framework. In his model, the Fed cuts rates after a downturn, and credit becomes cheap. Households and companies borrow and spend, which lifts earnings and asset prices, then pushes inflation higher. The Fed responds with rate hikes, credit tightens, growth stalls, and a recession forces the next round of cuts.
One full loop typically takes several years. Data from the National Bureau of Economic Research (NBER) puts the average post-war US cycle at about 75 months, or just over six years, from peak to peak. Woo’s 6-8 year range, therefore, sits at the long end of the record.
The last Bitcoin cycle arguably fits this loop as well as the halving one. The Fed cut rates to zero in March 2020, and Bitcoin peaked in November 2021. Hikes began in March 2022, and the bear market followed. Both models explain that sequence, which is why the debate is hard to settle.
However, Woo’s version has a gap. Bitcoin launched in 2009, and the only recession since then was the two-month COVID downturn in 2020, which the Fed met with immediate stimulus.
Woo said on the What Bitcoin Did podcast that Bitcoin has never faced a true business-cycle downturn, and that 2026 could be the first real test. That test may be close. According to CME Group, there is a 60% chance of a 25 bps rate hike during the September FOMC meeting.
Target Rate Probabilities for September Fed Meeting. Source: CME GroupThe Case Against a New RegimeCycle purists argue the old script is still running on time. Bitcoin peaked about 18 months after the April 2024 halving, inside the historical window, and then entered a deep drawdown. That is the same sequence that followed the 2017 and 2021 tops, and it has kept the four-year cycle debate alive.
There is also a sample-size problem on both sides. Bitcoin has completed only four cycles, and a 6-8 year orbit cannot be confirmed or refuted before the next decade.
For now, both stories fit Bitcoin’s recent price action. The coin climbed from about $62,900 at the start of August. Even so, it remains roughly 38% down from its all-time highs.
The signposts from here follow the calendar. In the last two cycles, the bottom arrived about a year after the peak, which under the old script points to a low around late 2026 and a recovery into the 2028 halving. A longer orbit would instead show the low drifting into 2027 or beyond, with rallies tracking Fed easing rather than the halving date.
If the halving no longer sets Bitcoin’s clock, the asset becomes a macro trade with a higher beta.
Pocket Bitcoin, a regulated non-custodial Bitcoin purchasing service based in Switzerland, disclosed that a security breach in its support system exposed personal data belonging to 5,411 customers. The company says no misuse of the compromised information has been detected so far.
The incident, which unfolded over roughly a week in mid-August 2026, involved unauthorized access to an internal database tied to Pocket Bitcoin’s customer support infrastructure. The company cut off the intruder’s access by August 16 and publicly announced the breach on August 21.
What was exposed, and what wasn’t A detailed breakdown released on August 31 split the affected users into two groups. The first, comprising 291 individuals, had their correspondence with financial institutions compromised. That correspondence included names, addresses, and pieces of documentation, the kind of material that tends to surface during compliance exchanges with partner banks.
The second and much larger group, 5,120 customers, had transaction lists exposed. These lists, provided by partner banks, contained personal data tied to bank transfers.
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The distinction matters. For the smaller group, the breach is meaningfully worse: their real-world identities could potentially be linked to their Bitcoin addresses.
Pocket Bitcoin stressed that no KYC profiles, full transaction histories, or customer funds were compromised. Because the service is non-custodial, meaning it never holds users’ Bitcoin, there was never a risk of direct financial loss from the breach itself.
How the breach happened The unauthorized access was traced to Pocket Bitcoin’s support system, where conversations between users and support staff are stored. Investigators determined by August 19 that email addresses and support conversations had been copied from the internal database.
Pocket Bitcoin completed a forensic investigation and reported the breach to relevant authorities in both Switzerland and Liechtenstein, including law enforcement agencies. Every affected user received an individual notification about the exposure.
The privacy problem beneath the surface As of the company’s most recent update on September 3, there have been zero confirmed cases of the exposed data being misused.
For the 291 users whose names, addresses, and documentation were compromised alongside their Bitcoin-related correspondence, the damage is potentially durable. If that information were to surface on darknet markets or be acquired by a motivated actor, it could be used to link specific individuals to specific Bitcoin transactions.
The broader group of 5,120 users faces a less acute but still meaningful concern. Transaction lists tied to bank transfers contain enough metadata to build profiles of purchasing behavior over time.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Bitcoin touched roughly $81,000 in late August 2026, its highest level in three months, only to slide back into the high $70,000s as the buying pressure that got it there started running out of fuel.
The rally from summer lows near $58,000-$64,000 represented a gain of approximately 23-38%. But the push above $80,000 was largely powered by a short squeeze, not organic buying.
The short squeeze that moved billions Between $1.4 billion and $4 billion in short positions were liquidated during the rally, making it one of the largest short squeezes in recent Bitcoin history. When traders betting on lower prices get forced out of their positions, they effectively become involuntary buyers, adding rocket fuel to an already rising market.
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Analysts at Glassnode and Bitfinex have pointed to exactly this dynamic as the core issue. The speed of Bitcoin’s ascent owed more to forced buying than to conviction-driven accumulation, and the price action since the $81,000 peak reflects that reality.
ETF flows tell a mixed story US spot Bitcoin ETFs pulled in approximately $1.9 billion in net inflows over a single week, the strongest weekly performance for these products since October 2025, with BlackRock’s IBIT among the leaders in attracting capital.
The flows have since become inconsistent, with some days showing meaningful inflows and others registering outflows or negligible activity. For Bitcoin to build a floor above $80,000, analysts say ETF purchases need to show sustained, multi-week momentum rather than sporadic bursts of interest.
Resistance levels and macro tailwinds Technical analysts have identified the $81,000-$83,000 range as immediate resistance, with a confirmed breakout potentially opening the door to targets between $85,000 and $90,000. On the downside, the high $70,000s have served as a consolidation zone where buyers have so far been willing to step in.
US Treasury announcements regarding expanded long-term bond buybacks, designed to put downward pressure on yields, have created a more accommodating environment for risk assets broadly.
Analysts caution that Bitcoin’s recent move looks more like a catching-up trade than the opening act of a new bull market. The cryptocurrency spent months underperforming other risk assets during the summer selloff, and much of the recent rally simply recovered ground that was lost rather than breaking genuinely new territory.
Profit-taking has also been a factor. Investors who bought during the $58,000-$64,000 lows are sitting on healthy gains and appear willing to lock some of those profits in at or near $80,000.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Russia’s largest bank has issued a cautious but sizable outlook for the country’s newly legalized cryptocurrency market. Sberbank Deputy Chairman Anatoly Popov said licensed trading platforms could handle roughly 3.5 trillion to 4 trillion rubles—about $46 billion—during the first 12 months after the rules take effect on September 1.
That figure is framed as conservative: analysts at SberCIB Investment Research expect only about one-fifth of existing activity to move onto regulated venues at first.
The baseline comes from Finance Ministry figures from February, which put daily crypto transactions in Russia near 50 billion rubles, or roughly 18 trillion rubles on an annualized basis.
Most of that flow still travels through peer-to-peer channels, unregistered services, and offshore platforms.
Popov noted that a large share of deals is likely to remain outside the official exchange system even after legalization, because professional market participants have until July 1, 2027, to obtain the necessary licenses.
The market therefore will not be fully built out in year one.
The new framework lets investors buy crypto assets through licensed brokers rather than informal routes.
Retail, or non-qualified, investors face a tight annual cap of 300,000 rubles (around $3,800) through a single intermediary and must first pass a risk-awareness test.
Qualified investors can go up to 3 million rubles (about $38,000) a year. Official venues are expected to start with a narrow list of assets—Bitcoin, Ethereum, and USDT—while other tokens stay off the regulated boards for now.
Payments in crypto for goods and services inside Russia remain prohibited.Sberbank’s longer-term path assumes gradual migration toward official rails.
Regulated volume could rise to 4.75–5.25 trillion rubles by 2028 and reach about 7.5 trillion rubles, or roughly $87 billion, by 2029 as more participants complete licensing and investors grow more comfortable with the supervised system.
The bank itself has been preparing infrastructure, including plans for trading tools and a digital depository, so it can serve clients once the rules are live.
The forecast highlights a dual-track market: a visible, capped, licensed segment sitting beside a much larger informal one.
Whether the official slice grows faster than the conservative 20 percent starting share will depend on how quickly brokers and exchanges finish registration, how attractive the limited product set proves, and whether retail limits stay in place. For now, Sberbank’s numbers treat the first year as a measured opening rather than an overnight shift of the entire 18-trillion-ruble activity base.
As Bitcoin retreated to the $77,000 level after its recent surge, on-chain analyst Willy Woo suggested that Bitcoin’s traditional four-year market cycle could change in the future.
At this point, Woo, who discussed Bitcoin’s traditional four-year market cycle, stated that this model may change in the coming period.
Woo stated that Bitcoin could shift away from its halving-focused four-year price cycle to a longer market cycle lasting 6 to 8 years.
The Impact of Halvings on Bitcoin Price is Weakening! Willy Woo noted that Bitcoin’s market cycles to date have been significantly shaped by the halving event, which occurs approximately every four years.
However, this situation may be changing. At this point, Woo noted that the decreasing amount of new Bitcoin entering circulation relative to the total supply reduces the impact of this halving mechanism on the price.
Bitcoin halvings reduce the block reward given to miners by half approximately every four years, slowing down the rate at which new supply enters the market.
At this point, Woo notes that the ratio of annual new Bitcoin supply to total supply could decrease from the current level of approximately 0.8% to around 0.4% in the coming years.
According to Woo, this suggests that the impact of the supply shock following the halving on the Bitcoin price may become increasingly limited compared to past periods.
Macroeconomics May Take Center Stage Instead of Halving in the Bitcoin Cycle! Woo suggested that with the weakening supply effect stemming from the halving, macroeconomic conditions and global liquidity dynamics could become more decisive in Bitcoin’s price cycles.
At this point, according to the analyst, Bitcoin’s future market cycles may show more parallels with the 6-8 year short-term debt cycles seen in traditional financial markets than with the four-year halving calendar.
Woo’s 6-8 year cycle prediction and such a shift could be interpreted as meaning that Bitcoin’s bull and bear markets may not be shaped around halving dates in the future. However, this assessment does not mean that Bitcoin’s classic four-year cycle has ended.
Woo’s main point is that as the impact of halving-related supply shocks diminishes, the Bitcoin price may become more sensitive to macroeconomic factors.
In this context, it is considered that liquidity conditions, interest rates, credit conditions, and borrowing cycles may play a more significant role in Bitcoin’s future market movements.
*This is not investment advice.
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