Bitcoin (BTC) — Onchain News & Whale Tracking

Yesterday, Bitcoin saw massive liquidations of short positions, yet futures trading remains crowded, with the long-short ratio locked in a stalemate.

According to Coinglass data, Bitcoin rallied sharply yesterday afternoon, triggering over $900 million in short position liquidations across the network. However, after the large-scale liquidations, Bitcoin’s coin-margined contract open interest rose rather than declined. As of press time, the total Bitcoin contract open interest across the network has climbed to 717,400 coins, a notable increase from yesterday’s 685,600 coins. Additionally, the current long-short ratio of Bitcoin contracts across the network stands at 1.0612, indicating that following yesterday’s sharp surge, market sentiment has not tilted overwhelmingly toward long positions, with bulls and bears still locked in a stalemate.

Viewpoint: Bitcoin reclaims all long-term moving averages, signaling a trend reversal.

Glassnode noted in a post that Bitcoin (BTC) has reclaimed all its long-term moving averages. After trading below these averages for roughly 300 consecutive days, this trend has now reversed. As long as BTC can hold above these long-term moving averages, the long-term uptrend is expected to continue.

PlanB: Bitcoin Surpasses Multiple Realized Prices, Expected to Hit New Highs in This Halving Cycle

Renowned crypto analyst PlanB wrote in a post that BTC is currently trading at around $86,000, having risen above key cost levels including the realized price ($53,000), 155-day realized price ($72,000), and 2-year realized price ($86,000). He also stated that BTC is unlikely to drop below $53,000 in this cycle. The market’s long-held view that “every bear market must retest the realized price” has now lost its last clear supporting condition. The 2025 and 2026 market cycles are normal but relatively shallow compared to historical precedents, so he believes BTC will reach new highs during this halving cycle (2024–2028).

Bitcoin OG wallet moves 600 $BTC ($51.28M) after 14 years, realizes 10,683x return

A Bitcoin OG wallet just moved all 600 $BTC ($51.28M) after over 14 years of inactivity! The wallet received 600 $BTC ($4.8K at the time) 14 years ago, when $BTC was trading at just $8. It's now sitting on a $51.28M unrealized profit — a 10,683x return!

A dormant Bitcoin address inactive for over 14 years has transferred all 600 BTC, generating an unrealized profit of $51.24 million.

According to on-chain data, a Bitcoin whale dormant for over 14 years has reactivated. When Bitcoin was priced at just $7.58–$8.09, the whale accumulated 600 BTC. At 15:22:20 Beijing time today, the whale transferred all 600 BTC, posting an unrealized profit of $51.24 million.

U.S. Bitcoin Spot ETFs’ total net assets back above $100 billion

According to Coinglass data, as Bitcoin continues to rise and spot ETF inflows persist, the total net assets of U.S. Bitcoin spot ETFs have rebounded above $100 billion, now at $103 billion.

A Bitcoin whale has added a $25 million sell order, planning to close its long position above $88,800 before flipping to open a short position.

According to TradingBeats’ monitoring, an address starting with 0xf517 on Hyperliquid added a $25 million regular limit sell order for BTC at $89,444 this morning, intending to sell 279.50 BTC. It also kept a $6.25 million take-profit order at $88,777, with total non-position-reduction sell orders above this level totaling roughly $30.5 million. As of press time, the address still holds the long position, with an average entry price of ~$81,273.5, position value of ~$6.034 million, and unrealized profit of ~$312,000. No BTC trades have been executed today so far. If the position and orders remain unchanged and filled, the address will flip from long to short, opening a maximum short position of ~341.38 BTC. Meanwhile, the address still holds regular buy orders worth ~$47.196 million in the $67,777–$78,777 range, including a ~$20 million order at the $78,777 level.

A trader suffered four consecutive forced liquidations, wiping out his $32.55 million Bitcoin short position.

According to Lookonchain monitoring, as Bitcoin prices rose, trader 0xc3ed was liquidated four times in just 14 hours. His short position stood at a high of 375.8 Bitcoin, valued at $32.55 million, and has now been fully closed out.

Bitcoin drops below $86,000, with its 24-hour price gain narrowing to 5.32%.

According to HTX market data, Bitcoin has fallen below $86,000, with its 24-hour price increase narrowing to 5.32%.

After earning $8.38 million from long Bitcoin positions, Garrett Jin flipped to short Bitcoin, with short positions worth $43.3 million.

According to TradingBeats' monitoring, Garrett Jin, the agent of the "BTC OG Insider Whale", closed a $112 million long Bitcoin position last night, realizing a profit of $8.38 million before opening a 3x short position on Bitcoin. The current position is valued at $43.3 million, with an entry price of $85,994.10.

Spaces launches Trust Anchor, enabling human-readable identity verification based on Bitcoin.

The decentralized Bitcoin naming protocol Spaces announced the launch of its Bitcoin-anchored "Trust Anchor" mechanism, which allows applications to directly verify human-readable identities against Bitcoin on-chain status without relying on centralized servers. Users only need to generate a Trust ID, then scan a QR code or paste it into a compatible application to complete verification. The ID is derived jointly from the Bitcoin block header chain and the cumulative state of the Spaces protocol, forming a universal trust anchor rooted in Bitcoin.

The crypto market is rallying strongly, with its total market capitalization back at $3 trillion. Bitcoin has broken through $87,000, while the total market cap of altcoins has surged 13.5% in a week.

According to HTX market data, the crypto market remains in a strong uptrend: Bitcoin surged past $87,000, currently trading at $86,400; Ethereum broke through $2,800, now at $2,774. The total crypto market cap jumped 5.4% in 24 hours, reclaiming the $3 trillion threshold to hit $3.042 trillion. SOL trades at $118, ZEC at $1,472, and HYPE at $93.8. Altcoin momentum continues: the total market cap of altcoins excluding Bitcoin (Total2) rose from $1.03 trillion to $1.17 trillion over the past week, a gain of over 13.5%. Top-performing altcoins today include FORM, PHA, and MUBARAK, up more than 30%; WIF, TAO, PEPE, ARMB, FET, SUI, COOKIE, EGLD, RUNE, XNO, SYN, DOGE, KERNEL, DUSK, OPG, ZAMA, EDEN, INIT, ALABB, MET, and FLOKI, up over 10%. Separately, BIT (bit.com) market data shows all crypto-related stocks closed higher, with Strategy (MSTR) up 9.47%, Coinbase (COIN) up 3.50%, Circle (CRCL) up 2.78%, BitMine Immersion (BMNR) up 8.66%, and SharpLink Gaming (SBET) up 6.74%.

X sues two Bitcoin bloggers, accusing them of manipulating a bot network to defraud $278,000 in creator revenue shares.

X has sued Vivek Kumar Sen, Zamyang Sherpa, and other unnamed individuals in the UK High Court, accusing them of operating a coordinated bot network that manipulated engagement data to defraud at least ￡207,400 (approximately $278,000) from X’s Creator Revenue Sharing Program. X alleges the defendants operated 6 primary accounts and at least 3 secondary accounts, regularly posting highly similar Bitcoin content and generating fake engagement via mutual likes, retweets, and other interactions between the accounts. Stripe accounts linked to some of the accounts were found to use names and bank accounts mismatched with the actual operators to obscure fund sources. X states the network participated in the Creator Revenue Sharing Program from 2023 to 2026; the program, which allocated ad revenue based on engagement metrics including likes, replies, and retweets, was officially shut down on September 7 and replaced by Original Content Rewards, which explicitly excludes "artificially generated" fake engagement. X suspended the 9 accounts in question on August 18, demanding the defendants return at least $278,000, plus claims for investigation costs, damages, interest, and legal fees. As of September 21, no defendants have submitted a defense in the case.

Analysis: Bitcoin could test $90,000 after a short squeeze, but leverage risks are on the rise.

Bitcoin surged past the key resistance level of $82,000 to hit a high of $87,300, triggering liquidations of around $750 million in bearish crypto derivative positions, with buying pressure from short covering further fueling the price rally. Since the breakout, Bitcoin’s derivative open interest has added roughly $2 billion, indicating a rapid return of market leverage. Nansen analyst Nicolai Sondergaard noted that “prices are turning bullish faster than position adjustments.” U.S. spot Bitcoin ETFs, which had faced headwinds from the CLARITY Act and Federal Reserve rate hikes, saw a combined outflow of $746 million on Tuesday and Wednesday, followed by inflows of $160 million and $433 million on Thursday and Friday respectively. The average cost basis for U.S. Bitcoin ETF holders is around $82,200; with Bitcoin breaking above this level, ETF investors as a whole have returned to profitability. Looking ahead, Sondergaard identifies $87,000 as the next key level, with $90,000 and $92,000 as subsequent targets; Wintermute trader Jasper De Maere also believes Bitcoin could test $90,000. However, he pointed out that breaking above the 50-week moving average is merely a positive signal, and significant volatility could still occur in the short term. The market is now closely watching whether spot and ETF inflows can sustain the rally. Sondergaard warned that if spot demand fails to keep pace with the growth in derivative leverage, the rally could become leverage-driven and reverse rapidly amid rising U.S. Treasury yields or geopolitical shocks. Wintermute advised focusing on ETF flows, perpetual contract open interest and funding rates in the coming days, as well as the options expiration this Friday.

Bitcoin breaks through $86,000, hitting a new high not seen since February.

According to HTX market data, Bitcoin has surged past $86,000, currently trading at $86,101, with a 24-hour gain of 6.69%, marking a new high since February.

Bitcoin ETFs see $116M inflow, but Ethereum ETFs lead with $149M daily inflow as weekly outflows persist

Sept 21 Update: #Bitcoin ETFs: 1D NetFlow: +1,363 $BTC(+$116.09M)?? 7D NetFlow: -4,418 $BTC(-$376.24M)?? #Ethereum ETFs: 1D NetFlow: +54,659 $ETH(+$149.45M)?? 7D NetFlow: -62,810 $ETH(-$171.73M)??

Jiang Zhuoer: Bitcoin's 'bulldozer-style' rally is not recommended for top-picking; wait for a pullback to trade on the right side

Jiang Zhuoer, founder of BTC.TOP Mining Pool, wrote that when Bitcoin climbed to $84,000 at 5 PM today, technical patterns indicated it was unlikely to mark the cycle’s peak, with the price later touching a high of nearly $86,000. Currently, there is a notable order book gap in the $85,000–$88,000 range, while the $82,000–$85,000 zone also lacks sufficient orders, making trading risky for both long and short positions at present. In the current "bulldozer-style" rally, attempting to catch the top is not recommended unless the price consolidates at a high level for a period before a sudden sharp 1-minute surge, as the success rate is relatively low. Instead of chasing the absolute peak to sell, traders should forgo some profits appropriately and wait for a price pullback before executing a right-side trade.

Pre-market news roundup for US stocks: Bitcoin hits its highest level since February, with Strategy adding more BTC to its holdings last week.

Pre-market key news for U.S. stocks on Monday: 1. Wall Street expects the U.S. to issue roughly $1 trillion in short-term debt; 2. Apple and Google are hiring for stablecoin-related positions, exploring new opportunities in crypto business; 3. Bitcoin surpassed $85,000 today, hitting a new high since February; 4. Federal Reserve official Goolsbee stated that if there is conclusive evidence inflation is falling to 2%, he has no objection to interest rate cuts; 5. Strategy increased its BTC holdings by 950 units last week at an average price of $79,670; Bitmine added 27,562 ETH last week, bringing its total ETH holdings to approximately 5.983 million.

Circle launches Bitcoin-collateralized lending service.

Per official announcements, Circle has launched the Digital Asset Backed Borrowing (DABB) service for eligible Circle Mint LLC clients, with support for the Arc and Ethereum mainnets. The service allows clients to deposit BTC, mint Circle Wrapped Bitcoin (cirBTC), then borrow USDC using cirBTC as collateral via supported third-party lending markets. Borrowed funds are deposited directly into Circle Mint accounts, enabling clients to access liquidity without selling their BTC. DABB integrates BTC deposits, cirBTC minting, collateralized borrowing, and USDC settlement into a unified workflow, letting clients manage their collateral independently and add collateral or repay loans as needed. The service currently supports Morpho-related markets, with plans to expand to additional lending markets and third-party platforms going forward. Parameters including borrowing interest rates, collateral requirements, liquidation thresholds, and liquidity are set by the selected market and subject to change.

Analysis: Bitcoin accelerates its breakout through the dense short liquidation zone, with covering demand set to further push prices higher.

Glassnode noted in a publication that Bitcoin (BTC) has accelerated its breakout from the dense short liquidation zone as anticipated. Over recent months, a large volume of short positions had built up in the $82,000–$86,000 range, though the prior pullback from this zone was modest. These short positions have now become a driving force for the upward move, as short sellers are forced to cover their Bitcoin positions.

Hyperliquid Launches Bitcoin Volmex Implied Volatility Index (BVIV) Perpetual Contract

Bitcoin Volmex Implied Volatility Index (BVIV) perpetual contracts officially launched on Hyperliquid on Monday, offering on-chain exchange users a way to bet on the magnitude of Bitcoin’s price fluctuations rather than its price direction. Widely dubbed the “Bitcoin VIX,” the BVIV index tracks the real-time implied or expected volatility of the cryptocurrency over the next 30 days. It is similar to the Chicago Board Options Exchange (Cboe) VIX index, which measures the 30-day implied volatility of the S&P 500 index. The newly launched perpetual contracts allow traders to go long or short on the volatility index directly, eliminating the need to express volatility views indirectly via options—thus avoiding high capital requirements and the need for specialized derivatives trading expertise.

Boyaa Interactive added approximately 152 Bitcoin to its holdings last week, at an average price of $75,899.

Boyaa Interactive announced that over the past week, it completed a series of open market transactions to purchase an additional total of approximately 152 Bitcoin, with a total consideration of around HK$90.63 million (equivalent to roughly US$11.56 million), at an average cost of approximately US$75,899 per Bitcoin.

Crypto whale sets 10 major price targets, will hold this round of trend orders until Bitcoin hits $120,000.

Crypto whale "Set 10 Big Goals First" updated his trading strategy, stating: "This round of trend orders will target $120,000; when Bitcoin hits $100,000, I will allocate 30% of my position for swing trading." Earlier, the trader had predicted since late August to early September: "If Bitcoin holds above $80,000, it will head toward $100,000 – this is the final chance to enter. I believe it’s still not too late to get in at $80,000 or even above, as there remains upside potential. $100,000 will likely be reached earlier than I initially anticipated."

Whale entity Garrett Jin closed out his long Bitcoin position 20 minutes ago, earning a profit of $8.38 million.

According to YuEden Monitoring, the BTC long position of the "Garrett Jin whale entity" has just been closed out: 20 minutes ago, the entity closed its long position of 1,333 BTC (valued at $112 million) which it opened 3 days ago, generating a profit of $8.38 million. The long position was opened at $78,057 and closed at $84,455. Currently, the entity holds no open positions on Hyperliquid, only spot holdings of BTC, ETH, ZEC and other assets via its on-chain addresses.

Impressive momentum! Bitcoin surges past $85,000.

According to HTX market data, Bitcoin has continued its upward rally, breaking through the $85,000 threshold and currently trading at $85,006, with a 24-hour gain of 5.03%.

Strategy's Unrealized Profit on Bitcoin Holdings Expands by $8.072 Billion

According to the latest statistics, crypto treasury firm Strategy currently holds 845,050 Bitcoin (BTC) at an average cost of $75,412. Following Bitcoin’s recent breakout above $85,000, Strategy’s BTC holdings have now generated an unrealized profit of $8.072 billion. During the ongoing bear market, Strategy’s Bitcoin positions once saw an unrealized loss of $10 billion.

A prominent trader says Bitcoin could rally to as high as $88,000 next, with little likelihood of a short-term pullback to test $70,000.

Well-known trader Killa updated his outlook on Bitcoin’s recent sharp rally, stating that Bitcoin’s next target could reach the $88,000 range. If it drops sharply below $80,000, it may test the $70,000 level, but this scenario is currently unlikely based on volume analysis. Killa, a quantitative trader focused on BTC, predicted the peak of the current bull market back in May 2025 and has over 200,000 followers on X. In mid-April, he shorted Bitcoin at $74,688, then switched to long positions during the broad market sell-off on June 5.

Bitcoin’s hash rate has ended its downward trend and resumed upward momentum, with miner activity recovering somewhat.

According to CryptoQuant data, Bitcoin's network hashrate has rebounded again after ending its recent downward trend, indicating a recovery in miner activity.

Bitcoin leads the rally, with some public blockchains surging hard on the back of this momentum; SUI and SEI each notched daily gains of over 20%.

According to HTX market data, fueled by Bitcoin's rally breaking above $84,000, several public chain tokens have surged. HTX figures show SUI is currently trading at $1.0062, with a 24-hour gain of 19.08%. SEI is priced at $0.0581, up 20.37% in the past 24 hours.

Jiang Zhuoer: Expects Bitcoin to undergo a sharp correction after reaching a high resistance zone, but remains fully allocated to spot Ethereum in anticipation of gains.

BTC.TOP founder Jiang Zhuoer stated in a post that Bitcoin’s price trajectory aligns with one of his previously outlined expected scenarios: “Test the high resistance zone of $83,000 to $84,000, then a major pullback will follow.” Jiang added, “This pattern means this is not the peak—wait and see, don’t go short, and hold full spot ETH positions for further upside.”

Bitcoin surges sharply, Garrett Jin’s unrealized profit exceeds $7.76 million, while Abraxas, the largest on-chain Bitcoin short position holder, sees its unrealized loss widening.

According to TradingBeats' monitoring, Bitcoin briefly broke through $84,000. The only remaining contract position under Garrett Jin’s account — a 3x Bitcoin long order — has now generated an unrealized profit of $7.76 million. However, it’s a mixed picture: a long-term ETH “diamond hand” held a Bitcoin short order worth $10.16 million that was liquidated half an hour ago. Additionally, Abraxas Capital, the largest holder of Bitcoin short positions on Hyperliquid, reported unrealized losses of $23.51 million and $17.11 million respectively for its two Bitcoin short addresses.

Bitcoin saw a sharp short-term rally, with two short positions worth over $10 million liquidated.

According to Coinglass data, during Bitcoin's sharp short-term rally that pushed its price above $84,000, two short positions worth over $10 million were liquidated. One liquidation occurred on Binance, with a value of $11.29 million, while the other took place on Bitget, amounting to $10.44 million.

Bitcoin surges rapidly, briefly breaking through $83,000 to hit a new high not seen since August 19.

According to HTX market data, Bitcoin has accelerated its rally over the past hour, briefly surging past $83,000 and currently trading at $83,031. Its 24-hour gain stands at 2.73%, hitting a new high since August 19.

Bitcoin surges past $82,000, notching a 1.47% gain in the past 24 hours.

Per HTX market data, Bitcoin has surged past $82,000, currently trading at $82,086.99, with a 1.47% gain over the past 24 hours.

Since August 19, the amount of Bitcoin held by long-term holders has declined for five consecutive weeks, though selling pressure is gradually easing.

Crypto analyst @AxelAdlerJr posted that Bitcoin long-term holders (LTHs) have seen their holdings decline for 5 consecutive weeks since August 19. However, the sell-off pace over the past 30 days has slowed sharply, nearly fivefold, from 105,900 BTC on August 30 to 21,700 BTC on September 20. Additionally, LTHs reduced their Bitcoin holdings by 47,800 BTC last week. Data from the LTH Spent Output Profit Ratio (SOPR) shows that most of these sales were executed at a loss.

Strategy’s unrealized profit from its Bitcoin holdings rises to $5.02 billion.

The cryptocurrency market continues its recovery, with Strategy — the world’s largest corporate Bitcoin treasury firm — now seeing its unrealized profit on Bitcoin holdings expand to $5.02 billion, after previously posting an unrealized loss of $10 billion. Strategy currently holds 845,000 BTC and $6.4 billion in reserve assets.

Bitcoin briefly fell below $81,000.

According to HTX market data, Bitcoin briefly dipped below $81,000, with a 0.09% decline over the past 24 hours.

Bitcoin briefly broke through $82,000.

According to HTX market data, Bitcoin briefly surged past $82,000, currently trading at $81,820, with a 0.78% gain in the past 24 hours.

Is the bottom confirmed? Bitcoin climbs above the 50-week moving average for the first time in 45 weeks, surging 29% in 35 days.

Galaxy Research Head Alex Thorn wrote in a post that Bitcoin's weekly closing price has reclaimed its 50-week moving average (50W MA) for the first time in 45 weeks. Thorn noted that historically, Bitcoin reclaiming the 50W MA is often regarded as a key confirmation signal that a bear market bottom has formed. Currently, BTC has risen approximately 29% over the past 35 days.

Coinbase's Bitcoin Premium Index has turned negative again, currently standing at -0.0198%.

According to Coinglass data, Coinbase’s Bitcoin Premium Index has turned negative again, now standing at -0.0198% (compared to 0.0013% yesterday), as buying sentiment in the U.S. market has slumped once more. BlockBeats Note: The Coinbase Bitcoin Premium Index measures the gap between Bitcoin prices on Coinbase, a leading U.S. crypto exchange, and the global average market price. It is a key indicator for monitoring U.S. market capital flows, institutional investment activity, and shifts in market sentiment. A positive premium indicates Coinbase’s Bitcoin price is higher than the global average, typically signaling strong buying demand in the U.S. market, active inflows of institutional or compliant capital, ample U.S. dollar liquidity, and generally optimistic investment sentiment. A negative premium means Coinbase’s Bitcoin price is lower than the global average, usually reflecting heavy selling pressure in the U.S. market, declining investor risk appetite, rising market risk aversion, or capital outflows.

Renowned trader: Bitcoin has successively digested interest rate hikes and the setback of the 'CLARITY Act', and the market trend may have shifted.

Renowned trader Killa said the "everything is priced in" chart tracks major catalysts across Bitcoin’s cycles and their post-event price behavior. He noted that during bear markets, negative news typically pushes BTC lower, leading traders to develop an inertia of shorting on any bearish headlines. But once high-timeframe trends shift, the same news may only spark temporary panic, after which Bitcoin absorbs selling pressure and resumes its rally. Recent market events include the Federal Reserve’s interest rate hike, expectations around the CLARITY Act vote, and the bill’s failure to advance. Markets initially viewed these as reasons for Bitcoin to drop further, but BTC only briefly broke below its range low before bouncing back quickly, showing strong resilience. Even as narratives of a "third world war" gained traction, Bitcoin began reacting relatively positively to panic-inducing factors. Killa highlighted this performance as a key distinction between bull and bear markets: in bear markets, bad news drives prices down, while in bull markets, negative headlines may trigger trader capitulation, after which prices continue rising. He added that the key catalyst that confirmed the last cycle’s uptrend was the approval of spot Bitcoin ETFs, and this cycle’s equivalent catalyst could be the CLARITY Act. Bitcoin’s recent ability to digest multiple bearish factors is a key basis for his judgment that the trend has shifted.

Michael Saylor has once again released Bitcoin Tracker information, potentially hinting at an increase in his BTC holdings.

Strategy founder Michael Saylor has once again shared updates on the company’s Bitcoin tracker, stating, “A little more orange.” Following past patterns, the orange dots denote Strategy’s Bitcoin purchase records, so this move likely signals the firm will add to its BTC holdings. Strategy typically discloses changes in its Bitcoin holdings the day after such announcements.

Well-known trader: If Bitcoin holds above $78,700 on the weekly chart, it could confirm the start of a new bull market.

Prominent crypto trader Doctor Profit said Bitcoin has broken above its 50-week moving average (MA50), which currently sits at around $78,700. If Bitcoin closes above this level for the week, he will view it as confirmation that a new bull market has begun. Current price action mirrors the pattern seen between 2022 and 2023: Bitcoin reclaimed the MA50 after weeks of resistance and a "bear trap". He noted that historically, Bitcoin has fallen below and then reclaimed the MA50 seven times; five of those instances preceded bull markets, while the other two resulted in false breakouts in 2011 and 2020 respectively. He added that Bitcoin is currently trading in the $71,000 to $82,000 range, and a breakout above the $82,500 to $83,000 zone would provide stronger confirmation. A return above the MA50 suggests such a breakout could occur in the coming days. His personal trading strategy remains unchanged: he will continue holding spot Bitcoin, with a target of $88,000 once remaining resistance is broken.

Analyst: Bitcoin OTC address reserves hit an all-time low, down over 75% from their 2021 peak.

Crypto analyst Darkfost posted that the known Bitcoin reserves held by addresses of over-the-counter (OTC) trading platforms have dropped to an all-time low, standing at around 123,000 BTC, down from nearly 500,000 BTC in September 2021. The continuous decline in OTC reserves could stem from multiple factors, including investors' growing preference for long-term BTC holdings, a more decentralized Bitcoin ownership structure, and miners and other market participants no longer primarily selling BTC via OTC channels. Additionally, some holders may prefer to sell directly on public markets. Regardless of the specific reasons, the sharp reduction in OTC reserves means fewer BTC are available for sale outside public markets. If buyer demand shifts more toward direct purchases on public markets, this could provide support for BTC prices.

This week, U.S. spot Bitcoin ETFs recorded a total net inflow of $6.1 million.

According to Farside's monitoring data, U.S. spot Bitcoin ETFs recorded a net inflow of $6.1 million this week, while U.S. spot Ethereum ETFs saw a net outflow of $140.6 million.

Peter Schiff: SEC’s Innovation Exemption for Tokenized Stocks Is Bad for Bitcoin

Longtime Bitcoin critic Peter Schiff argued in a post that Bitcoin’s sharp surge following the U.S. Securities and Exchange Commission (SEC)’s announcement on tokenized stocks is meaningless. In reality, this news is bearish for Bitcoin, as the cryptocurrency now has to compete with tokenized securities. Tokens backed by profitable, dividend-paying companies hold an advantage over asset-less tokens in terms of digital ownership, and are also more reliable stores of value. Tokenized stocks offer all the conveniences of Bitcoin while eliminating the risk of a decentralized Ponzi scheme collapse.

Analysis: Bitcoin market behavior has undergone a substantial shift, switching from panic selling to buying the dip.

Crypto analyst Darkfost says Bitcoin’s market behavior has undergone a substantial shift, moving from "panic selling" to "buy-the-dip". The market has crossed a real threshold, with a clear change in investor behavior. Previously, most traders panicked and sold on dips, but now the same pullbacks are being treated as buying opportunities. As a result, expecting Bitcoin to continue its sharp decline has become far more difficult, and short sellers face a more complex operating environment.

PlanB: Bitcoin trading above the 50-week moving average signals a $89,000 target, with the bear market now confirmed over.

Renowned crypto analyst PlanB wrote in a post that Bitcoin has climbed above the 50-week moving average (around $79,000), with its next target being the 100-week moving average (roughly $89,000). PlanB also stated he has personally confirmed the end of the bear market, noting Bitcoin closed at $78,571 in August, multiple key indicators have improved: the proportion of Bitcoin in profit rose from 50% to 72%, and the monthly RSI climbed from 41 to 51. He thus concluded the market bottom is in, with a bullish outlook ahead.

Analysis: BTC-to-gold price ratio breaks through the 50-week moving average, with one Bitcoin equivalent to approximately 18.55 ounces of gold.

Analyst Miller Cole noted that one Bitcoin is currently worth roughly 18.55 ounces of gold. At this time last month, one Bitcoin was only equivalent to about 15.3 ounces of gold. This ratio has once again crossed above the 50-week simple moving average, indicating a bullish signal. The analyst believes the BTC/XAU pair will reach notable new highs in the coming years.

Morgan Stanley's Bitcoin ETF has posted net inflows for 20 consecutive trading days, with cumulative BTC purchases totaling $51.5 million.

According to Arkham's disclosure, Morgan Stanley's Bitcoin ETF (MSBT) has cumulatively purchased Bitcoin worth approximately $51.5 million over the past 20 trading days, with no single-day capital outflows recorded during the period. MSBT is also one of the few Bitcoin funds that has not seen any single-day net outflows this month.