Hong Kong-listed Shein drops over 10% on its third day of trading.

Bitcoin is currently approaching the formation of a "golden cross" technical pattern, where the 50-day moving average crosses above the 200-day moving average. This indicator is widely regarded by the market as a signal of a long-term uptrend. While its historical performance does not accurately predict market movements every time, this golden cross may receive further support from USDT’s declining market dominance. Bitcoin has seen a total of 12 golden crosses in its history, with several periods delivering significant rallies. Statistics show that among the 9 measurable golden crosses, the average 3-month gain is roughly 24.9%; cases where the cross holds for a full year without being invalidated by a "death cross" are rare, but the average 1-year gain of the previous 3 such instances reached 250%. Meanwhile, USDT’s market dominance is approaching a "death cross"—its 50-day moving average has fallen below the 200-day moving average. The market typically views a decline in USDT’s market share as a sign of rising risk appetite, meaning funds may flow from stablecoins to Bitcoin and other crypto assets. Currently, Bitcoin’s golden cross and the signal of falling USDT dominance are emerging simultaneously, indicating recent market momentum is strengthening and risk asset allocation sentiment may be improving.

According to an official announcement from Term Labs, progress has been made in resolving the Term Vault incident. All fixed-rate loan positions in affected vaults have been fully restored, with the final recovery operation completed at 14:52 UTC on August 25. Term Labs said the incident is currently deemed to have only impacted liquid assets held in Term Vaults. Meta Vaults and related strategies remain offline. The team has not detected any attacks on Term V1 and V2 contracts during the incident, and the direct lending market was unharmed—supply, repayment, and liquidation functions are all operating normally. Per technical analysis, the attacker funded their operational wallet via Tornado Cash, exploited a governance proposal to reset the governance delay of multiple strategies to zero, bypassing the LP additional block window. The attacker then deployed fake controllers, price adapters, and fraudulent Repo tokens, manipulating strategy parameters and price mechanisms to siphon liquid assets from certain ETH and USDC strategies. Term Labs noted it is currently collaborating with law enforcement agencies and cybersecurity firms to investigate the attacker’s identity, and has provided information to relevant authorities to assist the probe. Affected Meta Vaults and strategies have been shut down, while remaining low-activity vaults are being processed. Fixed-rate loans on Term were not targeted by the attack, but to mitigate risks as they may redeem to affected vaults upon maturity, related contracts have been upgraded and migrated in advance.

CryptoQuant analyst Axel Adler Jr. wrote in a post that the 30-day net flow of stablecoin trading platforms turned positive on September 1, the first time after 113 consecutive days of net outflows, signaling a change in the previously sustained stablecoin liquidity environment. The 30-day average net flow of ERC20 stablecoin trading platforms had stayed below zero from May 11 to August 31, amounting to 113 days of net outflows. On September 1, the metric hit $13.85 million, then dropped to $11.66 million on September 2 and $6.85 million on September 3, with the two-day net inflow falling by around 51%. At present, this should be seen more as a shift from sustained net outflows to a balanced liquidity environment, rather than confirmation of large-scale capital inflows. Meanwhile, Bitcoin’s Stablecoin Supply Ratio (SSR) is declining from its August peak. The SSR stood at 13.84 on September 1, and its 90-day, 200-day, and 365-day oscillators all remain positive, indicating that stablecoins’ relative purchasing power is improving but has not yet entered a clear expansion phase. Current market signals stay neutral. If stablecoin trading platform net inflows continue to expand and the SSR keeps falling, it could further confirm a liquidity reversal in the crypto market; if net flows fall back below zero, this improvement may only be a temporary shift.

According to HTX market data, Bitcoin has broken through $78,000, currently trading at $78,037.08, with a 0.57% gain in the past 24 hours.

According to HTX market data, as Bitcoin consolidates, the altcoin market continues to strengthen, with broad-based gains across sectors. Notable gainers include: HEMI up 29.03% over 24 hours, currently priced at $0.01871; MUBARAK up 26.96% over 24 hours, at $0.02741; EGLD up 25.06% over 24 hours, at $5.31; ARB up 17.83% over 24 hours, at $0.1348; AR up 13.47% over 24 hours, at $2.59; ASTSB up 11.84% over 24 hours, at $62.54; RED up 10.59% over 24 hours, at $0.1232; APT up 10.55% over 24 hours, at $0.618; NIGHT up 9.85% over 24 hours, at $0.02074; and GPS up 9.16% over 24 hours, at $0.01084.

According to GMGN market data, meme coins MarsCoin and FLORK on the BNB Chain ecosystem have both hit all-time highs. MarsCoin’s market cap peaked at $99.88 million, currently trading at $90 million, with a 24-hour rise of 22.8% and 24-hour trading volume of $22.4 million. FLORK’s market cap reached a high of $32.42 million, now standing at $29.44 million, surging 230% in 24 hours with a 24-hour trading volume of $17.5 million. BlockBeats previously reported that KOL Bonk Guy stated in a social media post that the recent market performance on Robinhood Chain and BNB Chain over the past few weeks may only be a "warm-up", adding that similar trends typically emerge at the start of a new bull market or before the market enters a genuine acceleration phase. He predicted that the actual rally may begin in the fourth quarter, noting that recent gains will likely only account for a small portion of the overall trend.