Bitcoin (BTC) — Onchain News & Whale Tracking

Bitcoin falls below $83,000

According to HTX market data, Bitcoin has fallen below $83,000, currently trading at $82,967, with a 1.79% drop in the past 24 hours.

Omnity Network announces it is ceasing operations, with its Bitcoin DeFi products set to shut down within 30 days.

According to official announcements, Omnity Network has announced it will gradually cease operations due to depleted operating funds. The platform’s Bitcoin DeFi products, RichSwap and Satsman, will be shut down within the next 30 days. The team urged RichSwap liquidity providers to withdraw their liquidity as soon as possible, stating that it will upgrade smart contracts to remove existing lock-up restrictions, allowing users to access their funds without limitations. A detailed operational timeline and liquidity withdrawal guide will be released in the near future. Omnity added that support channels will remain open for 30 days during the transition period to assist users with relevant operations. Though the project is winding down, core team members will continue to support the Bitcoin ecosystem and plan to participate in its development through personal efforts and developer collaboration organizations.

Maji reduces Bitcoin long positions, with his account incurring a $1.42 million loss in nearly 24 hours.

According to TradingBeats monitoring, "Big Brother Ma Ji" (real name Huang Licheng) has reduced his Bitcoin long positions. His account suffered a $1.42 million loss in the past 24 hours, with profits shrinking to $1.62 million over the past seven days. His current positions are as follows: Ethereum (ETH) long positions worth approximately $92.62 million, with an unrealized loss of around $70,000; entry price: $2,671.16, liquidation price: $2,548.34. Bitcoin (BTC) long positions worth approximately $25.18 million, with an unrealized loss of around $50,000; entry price: $84,112.40, liquidation price: $70,059.66. HYPE long positions worth approximately $19.82 million, with an unrealized loss of around $650,000; entry price: $93.06, liquidation price: $70.43.

Bitcoin drops below $84,000, with a 0.32% decline in the past 24 hours.

According to HTX market data, Bitcoin has fallen below $84,000, with a 0.32% decline in the past 24 hours.

A certain crypto whale that had lain dormant for four years transferred 4,500 Bitcoin, valued at $378.79 million.

According to Lookonchain’s monitoring, a crypto whale that had been inactive for over four years transferred out 4,500 Bitcoin valued at $378.79 million.

Bitcoin has surpassed $85,000, while Ethereum has broken through $2,700.

According to HTX market data, Bitcoin has broken through the $85,000 level, with a 0.75% 24-hour gain. Ethereum has surged past $2,700, posting a 0.2% rise over the same period.

Strive’s CEO, following in Michael Saylor’s footsteps, hinted in a post that he may add to his Bitcoin holdings next week.

Matt Cole, CEO of Bitcoin treasury firm Strive, posted the message “Turn amplification up some more,” hinting that the company will increase its Bitcoin holdings next week. The move follows the practice of Michael Saylor, founder of Strategy, the world’s largest Bitcoin treasury company. Both firms have a pattern of posting hints about Bitcoin purchases on Sundays, then announcing the exact size of the holdings addition on the following Monday. Earlier on September 21, Strive’s Cole disclosed that the firm bought 1,355 BTC for $107.7 million, at an average cost of $79,475 per coin, bringing its total BTC holdings to 26,355.

Viewpoint: After Bitcoin broke through $86,000, supply above this level is thin, leaving only a 23% upside potential to $125,000.

Bitfinex released a graphic analysis noting that if Bitcoin breaks through $86,000, market supply above that level will drop sharply, leaving only approximately 23% of upside to reach $125,000. Over 1 million BTC are currently concentrated in the $84,000–$86,000 range, forming a key short-term resistance level. Separately, Bitcoin spot ETFs have recorded a cumulative net inflow of around $2.98 billion over the past seven trading sessions, as the market gradually absorbs this supply pressure. If BTC closes above $87,400 and ETF inflows persist, it will indicate that buyers have successfully absorbed current selling pressure, and the overhead supply wall may subsequently weaken.

Analysis: Bitcoin's macro pressure now hinges on oil prices, with US-Iran negotiations on the Strait of Hormuz being the key factor.

Bitfinex published a graphic analysis noting that Bitcoin’s current macro headwinds are primarily transmitted via oil prices, with oil’s trajectory hinging on the progress of U.S.-Iran negotiations over the Strait of Hormuz. Last week’s breakthrough in the talks pushed crude prices down, easing inflationary pressure and in turn lessening the strain on risk assets from a stronger U.S. dollar and elevated U.S. Treasury yields. If negotiations stall, crude oil prices could rebound, intensifying market pressure through inflation, U.S. dollar, and bond yield channels. Thus, the current market needs to focus not only on Federal Reserve policy but also closely track developments in U.S.-Iran talks.

Michael Saylor has once again released updates on his Bitcoin tracker, potentially hinting at additional BTC purchases.

Strategy founder Michael Saylor has once again shared updates on the firm’s Bitcoin tracker, stating, “Even more orange.” Per past patterns, the orange dots on the tracker represent Strategy’s Bitcoin purchase records, so this move may signal the company will increase its BTC holdings. Strategy typically discloses changes to its Bitcoin holdings the day after such announcements.

Bitcoin rebounds to break through $85,000.

According to HTX market data, Bitcoin has rebounded to surpass $85,000, posting a 1.04% gain in the past 24 hours.

Benson Sun: Bitcoin may experience a slow bull run in this cycle and will gradually reach new highs.

Crypto KOL and former FTX community partner Benson Sun posted that he expects Bitcoin’s current market cycle to follow a slow bull run marked by successive new all-time highs, rather than the sharp short-term rallies that peaked abruptly in 2013 and 2017. Before the actual cycle peak arrives, the market may see multiple local topping signals in succession. He noted that since 2021, BTC’s main buying demand has gradually shifted from retail investors to institutional players including public companies, spot ETFs, and corporate treasuries. Since institutions primarily purchase spot assets, and some funds also use delta neutral strategies for arbitrage, traditional metrics such as funding rates and MVRV Z-Score may not reach extreme levels again at the cycle peak. The upcoming cycle peak is more likely to be defined by a lack of follow-through from institutional capital, rather than widespread retail euphoria. The Institutional Liquidity Index (ILI), which tracks overall U.S. dollar liquidity, Strategy’s mNAV, and Bitcoin ETF net flows, is designed to determine if institutional capital is aligning with BTC when the asset hits new highs. A yellow divergence occurs when BTC posts a 30-day rolling high while the ILI fails to rise in tandem; a red divergence forms when BTC breaks its all-time high and the ILI is in divergence and below 50. Benson Sun stated that he will use the number of yellow divergences as a reference for gauging the cycle’s progress: each occurrence will prompt him to appropriately reduce his altcoin positions and leverage; as the market enters its later stages, he will gradually increase his BTC allocation and eventually hold only spot assets. If a red divergence appears, he will stop further participation.

Analysis: As global debt continues to rise, Bitcoin benefits from the declining purchasing power of fiat currencies.

According to Forbes, Bitcoin briefly neared $90,000 earlier this month. Meanwhile, global debt continues to climb, and "currency devaluation trades" focused on the declining purchasing power of fiat currencies have emerged as one of the factors driving up assets like Bitcoin and gold. Data from the Institute of International Finance (IIF) shows global debt rose by $10 trillion in the first half of this year, pushing the total above $365 trillion. U.S. debt has exceeded $40 trillion, with annual interest payments hitting $1.27 trillion—surpassing spending on defense and Medicaid, and trailing only Social Security expenditures. The IIF warns interest costs will rise further as benchmark rates increase. Nic Puckrin, founder and cross-asset analyst at The Coin Bureau, said the current environment favors "devaluation assets" such as Bitcoin and gold, which is part of the reason for Bitcoin’s recent rally. The larger major economies’ debt loads, the more likely they are to suppress real borrowing costs and let inflation erode debt’s real value, boosting the appeal of such trades. Analysts at The Kobeissi Letter point out the U.S. dollar’s purchasing power has fallen 23% since 2020; if assets have only risen 30% over the same period, investors are essentially breaking even when adjusted for real purchasing power. U.S. inflation has stayed above the Federal Reserve’s 2% target for 60 consecutive months.

Fidelity executive: Power law model shows Bitcoin may have entered a new bull market, could rise to $300,000 by 2029

Fidelity Investments Global Macro Director Jurrien Timmer stated in a post that Bitcoin’s power law model indicates a new cyclical bull market is unfolding after the cryptocurrency held above $60,000. Per the model’s projections, Bitcoin’s target price will reach $300,000 by 2029. The Bitcoin power law model is a long-term valuation framework that posits Bitcoin’s price has a power-function relationship with either time or network adoption scale. The model estimates future price trajectories and valuation ranges by fitting historical data such as prices and address growth, though it is a statistical extrapolation based on historical patterns rather than a definitive price forecast.

CryptoQuant: Bitcoin's unrealized profits and take-profit volumes rise in tandem, market faces correction risk.

CryptoQuant Research Head Julio Moreno stated that amid Bitcoin’s recent rally, the market’s unrealized profit rate climbed to 33%, reaching its highest level since December 2024. At the same time, Bitcoin’s take-profit volume rose to 25,700 BTC, marking the highest level since 2026. Moreno pointed out that the simultaneous increase in the unrealized profit rate and take-profit volume typically signals that the current upward momentum is weakening, leaving the market facing a correction risk.

Total net inflow into U.S. spot Bitcoin ETFs exceeded $2.3 billion this week.

According to monitoring by Farside Investors, U.S. spot Bitcoin ETFs posted a total net inflow of $2.3858 billion this week. The breakdown is as follows: BlackRock’s IBIT saw a net inflow of $1.1576 billion; Fidelity’s FBTC, $701.6 million; ARK 21Shares’ ARKB, $294.7 million; Morgan Stanley’s MSBT, $203.3 million; and Bitwise’s BITB, $13.9 million.

Analysis: Bitcoin has officially transitioned from the early bull market phase to the full bull market stage, with a bullish market structure.

CryptoQuant analyst Axel Adler Jr. noted that during Bitcoin’s rally on August 20, the adjusted MVRV 30DMA/365DMA ratio crossed above its own 365-day moving average, marking the start of the market’s "early bull market" phase. At that time, BTC was trading at $71,255. This phase lasted 31 days, with Bitcoin rising a total of 13%. On September 20, the ratio broke through the 1.0 baseline, as the short-term MVRV average exceeded the annual average, officially pushing the market into the "bull market" phase, with BTC priced at $80,691. Currently, the ratio stands at 1.018, and BTC is trading at $84,156. As long as the ratio remains above 1.0, the market structure will remain bullish.

Yesterday, U.S. spot Bitcoin ETFs saw a net inflow of $134.5 million, bringing the total net inflow over the past seven days to $2.9783 billion.

According to Farside data, U.S. spot Bitcoin ETFs recorded a net inflow of $134.5 million yesterday, marking their seventh consecutive trading day of net inflows exceeding $100 million, with total net inflows over the seven-day period hitting $2.9783 billion. U.S. spot Ethereum ETFs saw a net inflow of $87 million yesterday, extending their streak of daily net inflows to six consecutive trading days.

Bitcoin Rune DOG has seen a significant price deviation on Bitget, leading to calls for the resumption of spot trading.

Leonidas, a core member of the Bitcoin Rune DOG community, has published a lengthy open letter to Bitget CEO Gracy Chen, criticizing the exchange’s highly unusual decision to delist DOG just hours after a hack, while withdrawals remained frozen. The delisting announcement, paired with frozen withdrawals and a trust crisis stemming from the hack, caused a significant price deviation for DOG on Bitget, resulting in losses for long-term holders who trade regularly on the platform. Leonidas noted that DOG boasts a market capitalization of over $100 million, has been listed on Bitget for two and a half years with a cumulative trading volume exceeding $1 billion, and has a far larger community than many small-cap tokens still traded on the exchange. On behalf of the community, he formally demanded Bitget reinstate spot trading to resolve the abnormal market situation, while also wishing the exchange a speedy recovery of stolen assets and proper handling of the hack’s aftermath.

Yilihua: Bitcoin faces a normal correction after climbing to $86,000, adopting a "bearish but not shorting" stance, with ETH showing even stronger momentum.

Liquid Capital founder Jack Yi wrote in a post that after Bitcoin (BTC) rose to around $86,000, it is facing a normal correction. In the current bull market, investors should "be bearish but not short" and wait patiently for the next long trading opportunity. He noted that for specific trading opportunities, Ethereum (ETH) is showing stronger performance; trading infrastructure assets such as UNI and HYPE are gaining market acceptance, while ZEC is a "strong-whale asset".

Bitcoin falls below $84,000

According to HTX market data, Bitcoin has fallen below $84,000, with a 0.34% drop over the past 24 hours.

Viewpoint: Bitcoin holders are taking profits, but the scale is far lower than at historical peaks.

As Bitcoin (BTC) recently rebounded to around $85,000, holders have started taking profits, but the volume of realized profits is significantly lower than during previous market peaks. Data shows BTC holders have accumulated roughly $2.4 billion in realized profits recently, while daily realized profits typically hit $7 billion to $10 billion during past market peaks. BTC has risen approximately 44% so far this quarter, hitting a peak near $85,000, marking its best quarterly performance since Q4 2024, after three consecutive quarters of declines. Meanwhile, U.S. spot Bitcoin ETFs have seen a combined net inflow of around $2.84 billion over the past six trading days, exceeding BTC holders' realized profits in the same period; year-to-date, the ETFs' cumulative net inflow has also turned positive at roughly $800 million. Ethereum (ETH) has also shown signs of capital outflow from exchanges: around 410,000 ETH has been moved out of trading platforms over the past month, while U.S. spot Ethereum ETFs have attracted a combined $680 million in net inflows over the past four trading days. Following the $452 million Bitget hack, BTC, ETH and other major crypto assets have not shown significant signs of weakening so far. Meanwhile, U.S. Treasury yields and the U.S. Dollar Index have temporarily slowed their rally, but crude oil markets remain highly volatile due to news related to U.S.-Iran tensions.

Viewpoint: When U.S. Treasury yields rise to 5%, Bitcoin behaves more like gold rather than traditional risky assets.

Bitfinex released a chart analysis noting that when the yield on the 10-year U.S. Treasury note reaches 5%, Bitcoin’s price behavior aligns more closely with gold than with traditional risk assets. Currently, the correlation between BTC and gold has climbed to 0.52, while the correlation between BTC and daily changes in U.S. Treasury yields has turned negative.

Bitcoin rebounds to break through $85,000

According to HTX market data, Bitcoin has rebounded to surpass $85,000, with a 1.76% increase over the past 24 hours.

Sequans has liquidated all its Bitcoin holdings and fully exited its Bitcoin treasury strategy.

French semiconductor company Sequans Communications has sold its remaining 314 Bitcoin (BTC), officially completing its exit from the Bitcoin treasury strategy. Sequans Communications stated that it no longer holds any cryptocurrency, and will focus its business on the Internet of Things and software-defined radio sectors moving forward.

Analyst: Bitcoin long-term holders’ realized profits are far lower than previous peaks, and they may continue holding.

CryptoQuant analyst Darkfost stated in a post that Bitcoin long-term holders (LTHs) are generally more stable than short-term holders (STHs) and less sensitive to market volatility, so monitoring their fund activities helps assess selling pressure. Data shows LTHs’ current realized profit is approximately 72%. While this level appears high, it remains far lower than previous market phase peaks—for instance, in December 2024, LTHs’ realized profit once neared 350%. Currently, LTHs are in a relatively mild profit-taking phase, a level close to that seen during the prior bear market, which may prompt most long-term holders to wait rather than sell off en masse immediately.

Yesterday, U.S. spot Bitcoin ETFs posted a net inflow of $190.7 million, while U.S. spot Ethereum ETFs logged a net inflow of $66.1 million.

According to Farside’s monitoring, on September 24, total net inflows into U.S. spot Bitcoin ETFs hit $190.7 million, broken down as follows: BlackRock’s IBIT: +$162.6 million; Fidelity’s FBTC: +$12.9 million; Morgan Stanley’s MSBT: +$10.2 million; Franklin’s EZBC: +$4.9 million; Bitwise’s BITB: +$4.1 million; WisdomTree’s BTCW: -$4 million. ARK’s ARKB, Invesco’s BTCO, Valkyrie’s BRRR, VanEck’s HODL, Grayscale’s GBTC, and other Bitcoin ETFs saw no net inflows or outflows. Total net inflows into U.S. spot Ethereum ETFs yesterday reached $66.1 million, with breakdown: BlackRock’s ETHA: +$26.8 million; Fidelity’s FETH: +$21.5 million; Grayscale’s ETH: +$17.8 million. BlackRock’s ETHB, Bitwise’s ETHW, 21Shares’ TETH, VanEck’s ETHV, Invesco’s QETH, Franklin’s EZET, Morgan Stanley’s MSSE, and Grayscale’s ETHE recorded no net inflows or outflows.

The U.S. Secretary of Defense lists Bitcoin in his 2025 financial disclosure, with valuations ranging from approximately $16,000 to $65,000.

According to CNBC, U.S. Secretary of Defense Pete Hegseth’s newly released 2025 annual financial disclosure shows his household’s cash, retirement investments, and Bitcoin holdings are worth at least approximately $3.1 million. The Bitcoin is valued between $16,000 and $65,000, and one of his three cash accounts exceeds $1 million.

Crypto whale sets 10 key trading targets: Will gradually close long positions if Bitcoin (BTC) drops below $79,000, and plans to short hedge if BTC surges rapidly to near $100,000

Crypto whale "First Set 10 Big Goals" (@jasonleo) has updated his Bitcoin trading strategy, noting that when BTC rebounded from the $58,000 low in this cycle, he firmly targeted $100,000. However, he failed to accurately time the peak mid-cycle, missing a large chunk of profits. His current average entry for long positions is around $78,000. Regarding future operations, JasonLeo said he will start closing long positions gradually if BTC falls back below $79,000. If BTC surges rapidly to $100,000 in the short term, he will consider opening defensive short positions in the $98,000–$105,000 range to hedge against weekly-level correction risks. If BTC closes above $108,000 on the daily timeframe, the above short position logic will be invalid. If BTC does not rally directly but consolidates fully in the $80,000–$100,000 range, he will take defensive actions in the $115,000–$125,000 range.

Trader Maji cuts long positions in Bitcoin and Ethereum, incurring $1.42 million in account losses over the past 24 hours.

According to TradingBeats' monitoring, crypto figure "Big Brother Ma Ji" (Huang Lichang) has reduced his long positions in Bitcoin and Ethereum, with his account incurring a $1.42 million loss in the past 24 hours. His current positions are as follows: Ethereum (ETH) long positions worth approximately $96.47 million, with an unrealized loss of around $50,000, entry price of $2,658.94, and liquidation price of $2,549.76; HYPE long positions worth about $19.72 million, with an unrealized loss of roughly $330,000, entry price of $93.25, and liquidation price of $72.96; Bitcoin (BTC) long positions worth approximately $16.72 million, with an unrealized loss of around $20,000, entry price of $83,693.60, and liquidation price of $64,174.98.

Bitcoin rebounds to break through $84,000, with its 24-hour decline narrowing to 1.7%.

According to HTX market data, Bitcoin has rebounded to break through the $84,000 level, with its 24-hour decline narrowing to 1.7%.

Bitcoin ETFs see $320M inflow, Ethereum ETFs add $131M as weekly flows surge to $3B combined

Sept 24 Update: #Bitcoin ETFs: 1D NetFlow: +3,824 $BTC(+$320.43M)?? 7D NetFlow: +28,862 $BTC(+$2.42B)?? #Ethereum ETFs: 1D NetFlow: +49,304 $ETH(+$131.2M)?? 7D NetFlow: +211,638 $ETH(+$563.17M)??

Markets are pricing in four more interest rate hikes from the Federal Reserve through June next year, with Bitcoin briefly dipping below $83,000.

CME FedWatch data shows markets are currently pricing in a cumulative four interest rate hikes by the Federal Reserve by June 2027, pushing the federal funds rate target range to 4.75%–5%, a 100 basis point increase from the current 3.75%–4% range. U.S. Treasury yields rose across the board, with the 20-year yield approaching 5.5% and the 10-year yield breaking above 5.1%—hitting its highest level since 2007. The long-term U.S. Treasury ETF TLT fell below $80. Meanwhile, the U.S. Dollar Index broke above 101, up roughly 3% year-to-date. Factors driving the rise in U.S. Treasury yields include strong economic data, Middle East tensions boosting inflation and energy prices, and increased bond supply from AI infrastructure financing. Pressed by high interest rates and a strong U.S. dollar, BTC has dipped from its recent high of $87,500 to below $83,000, while gold has held above $4,200.

During Bitcoin's price correction, a whale dumped BTC worth $41.6 million. If the current BTC price rallies back to $84,100, the whale will be liquidated.

According to TradingBeats' monitoring, during Bitcoin (BTC)'s minor pullback, an address starting with 0xc3ed on Hyperliquid added a short position of approximately 500.88 BTC 10 minutes ago, bringing its total open positions to around $41.641 million at an average entry price of $83,135.2. As of press time, the address still holds the full short position, valued at roughly $41.657 million, with an unrealized loss of about $16,000. It is using 40x isolated margin leverage, with a liquidation price of $84,174.1. BTC is currently quoted at $83,168; a roughly 1.2% rebound would likely trigger its liquidation line.

Bitcoin drops below $83,000, posting a 1.7% intraday loss.

According to HTX market data, Bitcoin has fallen below $83,000, currently trading at $82,963.07, with an intraday decline of 1.7%.

Yesterday, U.S. spot Bitcoin ETFs recorded net inflows of $346.9 million, while spot Ethereum ETFs saw net inflows of $104.5 million.

According to Farside’s monitoring, the total net inflow into U.S. spot Bitcoin ETFs hit $346.9 million yesterday. Breakdown: BlackRock’s IBIT saw a net inflow of $166.3 million; Fidelity’s FBTC, $143.2 million; Morgan Stanley’s MSBT, $32.4 million; ARK’s ARKB, $5 million. Bitwise’s BITB, Invesco’s BTCO, Franklin’s EZBC, Valkyrie’s BRRR, VanEck’s HODL, WisdomTree’s BTCW, and Grayscale’s GBTC recorded no net inflows or outflows. Separately, the total net inflow into U.S. spot Ethereum ETFs stood at $104.5 million yesterday. Breakdown: BlackRock’s ETHA, $50.8 million; Fidelity’s FETH, $41.3 million; Grayscale’s ETHE, $4.3 million; VanEck’s ETHV, $4 million; Franklin’s EZET, $3 million; 21Shares’ TETH, $2.9 million; Morgan Stanley’s MSSE, $1.4 million; Invesco’s QETH, $0.9 million. Notably, Grayscale’s ETH posted a net outflow of $4.1 million, while BlackRock’s ETHB and Bitwise’s ETHW had no net inflows or outflows.

StarkWare: AI-Assisted Programming Cuts Estimated Computational Cost of Quantum-Secure Bitcoin Transactions to $66

Blockchain technology firm StarkWare announced that after a week of AI-assisted programming, its estimated computing cost for quantum-secure Bitcoin transactions has fallen from roughly $320 to $66, a reduction of about 79%. Previously, a related transaction completed by StarkWare in August required around 3,100 hours of computing time, used approximately 100 GPUs, and carried a computing cost of $320. Following this, StarkWare launched a code optimization contest, where participants leveraged AI tools to enhance search efficiency, leading to a roughly 5x improvement in computing speed. The solution uses a hashing mechanism to help Bitcoin counter potential quantum computing threats, and does not require a soft fork upgrade to the Bitcoin network. That said, the $66 figure is currently only an estimate based on test results; the improved code has not yet been proven to successfully power another transaction mined on the Bitcoin network.

Analyst: Bitcoin market momentum has shifted, marking the 5th time in history a bull market confirmation signal has emerged.

CryptoQuant analyst Darkfost noted in a post that Bitcoin’s Short-Term Holder (STH) cost base has confirmed crossing above that of Active Long-Term Holders (LTH), signaling a shift in market momentum, leading him to conclude that Bitcoin’s bull market has been confirmed. This marks the 5th occurrence of this signal in history, though he stressed the relevant indicator still carries a risk of misjudgment. "Active LTH" is defined as long-term held Bitcoin that has moved at least once in the past seven years, to exclude long-term dormant or non-circulating BTC. Currently, over 3.5 million BTC held for more than 10 years remain dormant, with this supply growing by an average of 8,000 to 30,000 BTC monthly. Since 2019, this indicator has only recorded one instance of negative growth, triggered by an early miner reactivating and transferring roughly 100,000 BTC—a relatively isolated event. Darkfost argues the current signal reflects positive shifts in the Bitcoin market, with ETF liquidity inflows serving as one of the driving factors.

A prominent trader predicts Bitcoin could correct to $79,000, with the bull market set to continue after the adjustment concludes.

Well-known trader Doctor Profit stated that he has increased his Bitcoin short position to $13 million, expecting BTC to undergo a correction targeting $79,000. He will decide on his next moves based on price performance once Bitcoin hits that level, and emphasized that this short position does not reflect a bearish outlook on Bitcoin’s long-term trend. The trader believes Bitcoin’s bear market has ended, and the current pullback is merely a phase adjustment within the ongoing bull run; once the correction concludes, Bitcoin’s bull market will continue.

A prominent trader noted that during the previous bull market, Bitcoin’s maximum pullback before its all-time high (ATH) was 22%, adding that this cycle’s pullback should likely not exceed 15%.

Prominent trader Killa posted that during the previous crypto bull cycle, Bitcoin’s largest pullback before hitting its all-time high (ATH) was 20-22%, meaning the leading cryptocurrency never corrected more than 22% while rallying toward its ATH. Applying the same proportional logic to the current cycle, a relatively mild bear market (which saw Bitcoin fall 54% this cycle, a far shallower decline than prior downturns) should result in a similarly moderate bull market pullback, putting this cycle’s expected major correction in the roughly 10-15% range. Killa argues mathematically that this means buying dips with 4x leverage should be relatively safe as Bitcoin advances toward its $126,000 peak, provided traders do not go long at the top of each market phase. A BTC-focused quantitative trader, Killa correctly predicted the peak of this bull market in May 2025 and has over 200,000 followers on X. In mid-April, he shorted Bitcoin at $74,688, then flipped to a long position during the broad market selloff on June 5.

Bitcoin undergoes a correction, altcoins see sharp pullbacks, while earlier strong cryptocurrencies take the opportunity to consolidate.

Following Bitcoin’s pullback yesterday, altcoins across the crypto market plunged sharply. According to HTX market data, on the CEX’s decline leaderboard, MUBARAK led with a 32.14% drop, while ONE fell over 24% to take second place. Previously strong tokens such as UNI saw a 11.75% decline today, retreating to above its prior support level, now trading at $9.254. ZEC dropped 6.16% to $1,516.99. LIT, which hit an all-time high yesterday, remained relatively resilient with no notable correction, currently priced at $5.3438, up 4.75% over 24 hours.

Resurgent interest rate hike expectations hit US stocks and cryptocurrencies, with the Nasdaq ending its four-day winning streak and Bitcoin falling below $85,000.

Overnight, unexpectedly strong PMI data sharply boosted market bets that the Federal Reserve will maintain a tighter stance for longer, coupled with factors such as uncertainty over US-Iran tensions, leading to broad declines in US stocks and crypto assets. The three major US stock indexes closed lower: the Dow Jones Industrial Average fell 0.68%, the S&P 500 dropped 0.75%, and the Nasdaq slid 1.1%. According to market data from BIT (bit.com), among notable stocks, SK Hynix fell 3%, Meta rose 1%, and Amazon declined 2%. Among crypto-related stocks, Securitize, which benefits from the SEC’s stock token exemption policy, surged 10.46% against the trend, while other crypto treasury companies saw declines of varying degrees: MSTR fell 3.07%, BMNR dropped 4.52%, and BNC slid 3.63%. The PMI data, released Wednesday, far exceeded expectations, marking the fastest expansion pace since 2021. As a result, the 10-year US Treasury yield rose 14 basis points in a single day, breaking through the 5.00% threshold; the 5-year yield hit its highest level since 2007 during trading, while the 30-year yield climbed to its peak since 2004. The interest rate swap market has fully priced in expectations of three rate hikes over the next year, with some hedge positions even reflecting the possibility of a fourth hike. According to HTX market data, Bitcoin accelerated its sharp decline after yesterday’s US stock market opened, briefly falling below $84,000 before consolidating sideways, and is currently trading at $84,417.10.

Bitcoin breaks through $80,000, backed by institutional funds; analysts hold divergent views on the sustainability of this rally.

Bitcoin recently broke through $80,000 and hit a high of $87,300. Analysts note the current rally is backed by strong inflows from institutional capital and spot Bitcoin ETFs, but metrics including trading volume, market breadth, and derivatives positions have sparked debate over whether the uptrend can sustain. K33 points out that Bitcoin’s recent pullback in both magnitude and duration is significantly smaller than those during major bear markets in 2013, 2017, and 2021, suggesting the current cycle’s low may have already been established. The firm also adds that Bitcoin still has catch-up potential relative to gold and U.S. equities. 21Shares attributes the crypto market’s regulatory tailwinds to the U.S. SEC’s “innovation exemption” and the Commodity Futures Trading Commission (CFTC) advancing relevant rulemaking. K33 further notes that fading uncertainties—such as the Federal Reserve’s interest rate decisions and the vote on the CLARITY Act—also helped drive the market’s breakout. However, Nexo takes a cautious stance, highlighting that recent declines in trading volume, narrowing rally breadth, and rising derivatives leverage could expose Bitcoin to risks of profit-taking or a temporary correction. Capital.com’s analysts identify the $87,000–$88,000 range as the near-term resistance zone; a breakout would target $90,000 next, while key support levels to watch are $84,000–$85,000 and $80,000. Fundstrat founder Tom Lee claims the crypto bull market has already begun, citing drivers including the reflow of AI capital back into crypto markets, improved crypto fundamentals such as tokenization and AI integration, and the end of Bitcoin’s four-year cycle.

US spot Bitcoin ETFs recorded a net inflow of $1 billion yesterday, marking the first positive net flow year-to-date.

Galaxy Research head Alex Thorn published a post stating that U.S. spot Bitcoin ETFs recorded a net inflow of $1 billion yesterday, marking their largest single-day net inflow since 2026. Thorn noted that this capital inflow pushed the year-to-date net flow of U.S. spot Bitcoin ETFs to turn positive for the first time since April.

Bitcoin fell more than 2% in the past half hour.

According to HTX market data, Bitcoin has fallen more than 2% in the past half hour, currently trading at $84,139. Over the same period, Ethereum has dropped over 2.5%, now at $2,652.

Bitcoin falls below $84,000

According to HTX market data, Bitcoin has dropped below $84,000 and is currently trading at $83,979.

Bitcoin ETFs see $609M inflow, Ethereum ETFs add $184M as weekly flows surge

Sept 23 Update: #Bitcoin ETFs: 1D NetFlow: +7,107 $BTC(+$609.37M)?? 7D NetFlow: +20,738 $BTC(+$1.78B)?? #Ethereum ETFs: 1D NetFlow: +67,597 $ETH(+$183.83M)?? 7D NetFlow: +86,117 $ETH(+$234.2M)??

Glassnode: Bitcoin has likely established a bottom, with a low probability of further sharp declines.

Glassnode stated in a social media post that the four-year cycle playbook many investors rely on has not worked for Bitcoin’s (BTC) current bear market. To date, the drawdowns of the previous three bear markets were more than double that of this cycle, and each was still weeks away from their respective lows at comparable stages. As weeks pass, the likelihood of BTC falling to the depths seen in prior bear cycles appears increasingly slim.

Zest Announces On-Chain Proof for Bitcoin-Collateralized Vault Mainnet Demo

Bitcoin lending protocol Zest Protocol has released its "Proof of Mainnet Deployment", with the mainnet demo of its Bitcoin Collateral Vaults now independently verifiable. A total of 3 Bitcoin transactions and 7 Ethereum transactions have been made public. The product design locks BTC in Bitcoin mainnet vaults, avoiding wrapping or cross-chain bridging, and allows users to borrow stablecoins on EVM-compatible chains such as Ethereum. This feature remains a mainnet prototype, not a fully open deposit and lending service. The official roadmap is divided into two phases: Phase 1 uses pre-signed transactions to restrict BTC settlement paths, while Phase 2 will transition to BitVM verification. A functional mainnet prototype is now available, and the team is accelerating its official deployment.

Starcloud plans to achieve space-based Bitcoin mining by the end of the year, and will deploy ASICs on its second satellite.

Nvidia-backed startup Starcloud plans to launch a space-based bitcoin mining operation by the end of this year. CEO Philip Johnston said in an interview, "We will be the first company to mine bitcoin in space, and we will carry some bitcoin mining ASICs on our second spacecraft, which is scheduled to launch later this year." Founded in 2024, Starcloud’s core goal is to send its data centers into space, leveraging continuous solar power and radiative cooling to avoid ground licensing restrictions while scaling to gigawatt-level computing power. Starcloud-2, the second of the company’s four planned satellites, is positioned as its first commercial mission and will carry a GPU cluster, though the official project page does not mention bitcoin mining or ASICs. Johnston explained the financial rationale behind the shift to bitcoin mining: ASICs cost roughly 30 times less per kilowatt than GPUs. A 1-kilowatt Nvidia B200 chip costs around $30,000, while a 1-kilowatt ASIC is only about $1,000.