Garrett Jin: Bitcoin bulls are in an unfavorable position; the longer the bottom-digging market lasts, the higher the likelihood of breaking the support level.

Cross-chain protocol Chainflip has disclosed that its TRON USDT integration was hacked, resulting in total losses of 736,442 USDT. The platform stated that remaining funds are unaffected and it will compensate affected users. The vulnerability fix plan has been finalized, and the network is expected to resume operations as early as Monday.

On September 10, in his speech on the first night of the Republican National Convention, Donald Trump made a series of remarks, including: He stated that the U.S. should have the lowest interest rates in the world, noting that the promised $5,000 post-election subsidy would be easy to pass through Congress, and that he always keeps his promises. Trump also pledged that if the Republican Party wins control of both the House of Representatives and the Senate, he will send a $5,000 bonus to every adult in the U.S. During the speech, after previously proposing renaming Lake Ontario "Lake American", Trump put forward a new renaming idea: suggesting changing New Mexico to the "State of New America". When discussing the Strait of Hormuz shipping lane, Trump said, "I think we should call the Strait of Hormuz the 'Strait of Trump'."

JPMorgan Chase has cut off financing for Situational Awareness, the hedge fund owned by self-proclaimed "AI Stock Guru" Leopold. According to insiders, JPMorgan—one of the fund’s primary short-selling and financing providers—notified the fund to terminate its lending relationship after the fund disclosed losses. Neither party has commented on the matter. Not all Wall Street banks have pulled back from Situational Awareness: Goldman Sachs, Citigroup, and Bank of America still offer brokerage services for the fund, and Situational Awareness recently added boutique broker Clear Street to its roster. Following the fund’s margin call incident, Leopold admitted to investors that the fund was near "unacceptable permanent principal impairment," adding that it would reduce leverage and maintain long positions in AI fundamentals. Over the past two weeks, the fund has resumed buying call options for stocks including AMD, Bloom Energy, CoreWeave, SK Hynix, and SanDisk, as it seeks to rebound in the market.

US President Donald Trump has said the war with Iran will end, possibly either before or immediately following the midterm elections. He noted that Iran is very eager to reach an agreement, adding that he does not care whether Gulf countries hold meetings with Iran, as that is their choice. When asked whether the artificial intelligence (AI) industry should slow its development, Trump stated: "Whoever wins the AI race will win the future."

Jiang Zhuoer, founder of BTC mining pool B.TOP, said Bitcoin (BTC) has fallen as expected, with $76,500 serving as a key support level — the lower edge of an ascending channel and the 23.6% Fibonacci retracement of the rally from roughly $57,000 to $82,000. A break below $76,500 could trigger accelerated declines, with the next level to watch being the prior low of $75,500 to see if it holds. Early this morning, he outlined two potential scenarios: a) BTC stops falling and rebounds before hitting $75,000, which would likely pave the way for a rally back to $80,000, even to the high resistance zone of $83,000–$84,000, before a major correction; b) A valid break below $75,000 would trigger a correction corresponding to the prior rally from $64,000, targeting $70,000–$72,000, before the next phase of the bull market begins. Jiang noted that next week’s vote on the Crypto Market Structure Act (the CLARITY Act) and Federal Reserve announcements could act as key catalysts, so he is maintaining a neutral position: full short positions in BTC plus full spot holdings of Ethereum (ETH).

According to GMGN data, crypto meme coins tied to AI stocks have seen sharp pullbacks, with details as follows: Artificial Inu (AI) currently has a market cap of $247 million, down 27% in 24 hours, paired with Nvidia stock; MOO is down 37% over 24 hours, with a market cap of $18 million, paired with Micron stock; Microduck is down 26% in 24 hours, market cap at $7.3 million, paired with Nvidia stock; FLYBRAIN is down 23% in 24 hours, market cap at $9.6 million, paired with Google stock; UBIK, an alleged AI project developed by the team behind aixbt, has a market cap of $28 million, down 25% in 24 hours; ANTHROPIG is down 44% in 24 hours, market cap at $5.4 million, traded in pair with ANTHROPICx1L (a tokenized 1x long position for Anthropic); CATGPT is down 22% in 24 hours, market cap at $6.7 million, traded in pair with OPENAIx1L (a tokenized 1x long position for OpenAI). Anthropic CEO Dario Amodei published a lengthy essay stating the AI industry must slow the pace of advancing model capabilities. Slowing this pace does not mean halting model training or technological progress, but rather ensuring companies have adequate time for alignment and model protection. OpenAI founder Sam Altman echoed this stance. The remarks from the two major AI players have cooled the market, near-term weighing on sentiment in the AI sector.