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David Hoffman, co-founder and host of crypto podcast platform Bankless, said on X that Zcash (ZEC) is showing a pattern this year similar to what Ethereum (ETH) saw in 2021. Hoffman said capital rotation by Bitcoin holders into assets other than BTC is rare, but ZEC has emerged this year as a Schelling point, or a focal point where market participants collectively direct capital. Hoffman added that ZEC’s market capitalization could expand significantly even if only a very small share of BTC holders comes to view it as a play on privacy, quantum resistance, or a hedge against BTC exposure. Hoffman also said a similar pattern is appearing in NEAR, which Hoffman described as emerging as a new Schelling point in smart contracts for 2026.

A whale address believed to be tied to an institution sold 42,000 ETH, equal to about 80% of its holdings, around seven hours ago, on-chain analyst EmberCN said. The wallet had added 15,000 ETH at an average purchase price of $2,751 yesterday, worth about $41.26 million. According to EmberCN, the whale transferred the tokens to a Galaxy Digital OTC address around seven hours ago. Such transfers are typically interpreted as intended for selling. If the deposited ETH was sold, the whale realized about $21.12 million in profit. EmberCN said the whale had accumulated about 52,000 ETH over roughly two months at an average purchase price of $2,161. CoinMarketCap data showed ETH trading at $2,679.21, down 3%.

Bitcoin fell below $85,000 as U.S. Treasury yields resumed climbing after S&P Global reported a stronger-than-expected preliminary U.S. composite purchasing managers index for September, CryptoSlate said. The outlet said S&P Global’s preliminary September U.S. composite PMI came in at 58.4, the highest reading since July 2021. As the U.S. 10-year Treasury yield moved back above 5%, expectations grew that the Federal Reserve could keep interest rates higher for longer. In the hour after the PMI release, about $135.8 million in crypto positions were liquidated, including $125.9 million in longs, with BTC and ETH accounting for $47.4 million and $23.9 million, respectively. CryptoSlate added that the short-squeeze effect that had recently supported BTC’s gains has largely run its course, suggesting Bitcoin will need fresh spot buying to reclaim $85,000.

CoinMarketCap’s in-house crypto fear and greed index came in at 74, down four points from yesterday, indicating a slight pullback in market sentiment while remaining in the greed zone. The index signals extreme fear as it approaches zero and extreme optimism as it nears 100. CoinMarketCap calculates the gauge based on price moves among the top 10 cryptocurrencies by market capitalization, market volatility, derivatives-market indicators including the put-to-call ratio, the stablecoin supply ratio, or SSR, and CoinMarketCap’s own search data.

The spot CVD chart is an order-book analysis chart for the BTC/USDT spot trading pair. The upper panel shows a volume heatmap, while the lower panel shows cumulative volume delta, or CVD. - The volume heatmap in the upper panel tracks trading volume at each price level. The background color becomes brighter when the price stays in a specific range for an extended period or makes a large move. Brighter zones may act as support or resistance levels. - The cumulative volume delta indicator in the lower panel reflects buy and sell orders by order size. As buy orders increase, the corresponding colored line moves higher. The yellow line is based on orders worth $100 to $1,000, while the brown line is based on large orders worth $1 million to $10 million, among others.

About 11.7 million XRP, worth roughly $20 million, was stolen from thousands of users’ wallets in a hacking attack targeting the D'CENT Wallet self-custody app, BeInCrypto reported, citing on-chain forensic analysis by XRPL.to. The analysis said the attacks took place in six rounds between Sept. 15 and 20. The attacker used compromised private keys to withdraw XRP from 6,678 wallets and delete 5,001 accounts to also capture their account reserve balances. Of the stolen XRP, about 5.6 million XRP was moved into Ethereum (ETH) through THORChain (RUNE), while funds were also dispersed through exchanges including Binance and other services. D'CENT said on Sept. 16 that abnormal fund transfers had occurred in its app wallet and had urged users to move their assets immediately.

The United States and China have agreed to extend their trade truce by two months, U.S. Treasury Secretary Scott Bessent said, according to Money Today.

Decentralized perpetual futures exchange Aster said on X it has launched Grid 2.0 and a marketplace. Aster said Grid 2.0 lets users run grid strategies and standard perpetual futures trades at the same time, while isolated margin allows up to 50 independent grid strategies per account on the same trading pair. In the Grid marketplace, users can view grids already running on Aster by market and compare data including PnL, ROI, operating duration, and trading activity. Users can also copy existing grid strategies or invert the long-short direction and adjust parameters to build new grids.

Bitcoin fell below $86,000 overnight amid a short-term pullback, slipping under what is estimated to be the average purchase price for recent investors in U.S. spot ETFs, The Defiant analyzed. Citing analysis from U.S.-based crypto exchange Bitfinex, the outlet said the average cost basis for investors in U.S. spot Bitcoin ETFs is estimated at about $86,000. With BTC dropping below that level, capital that recently flowed in through the ETFs has also moved into unrealized losses. U.S. spot BTC ETFs saw net inflows of $999 million on Monday and $714.7 million on Tuesday, and BTC has since fallen below the prices at which those funds entered. The report said the key question for whether Bitcoin’s uptrend can continue is whether sustained net buying persists at prices above ETF investors’ average cost basis. According to CoinMarketCap, BTC was trading at $84,575.72, down 1.97%, at the time of writing.

Wallets holding 100 to 1,000 BTC have accumulated about 113,950 BTC since July 15, according to on-chain analytics platform Santiment. Over the same period, the group’s Bitcoin holdings rose 2.22% to about 5.24 million BTC. Santiment said accumulation by this wallet cohort has historically shown a strong correlation with the direction of the crypto market and has often appeared before or during periods of strong directional moves. The firm added the recent rise in Bitcoin suggests the uptrend has not relied solely on retail buying, but has also been supported by purchases from whales with substantial capital.

The U.S. government is considering ways to support broader use of dollar-based stablecoins in overseas markets, Bloomberg reported. Last year, U.S. President Donald Trump signed an executive order promoting legal and trustworthy dollar-based stablecoins worldwide after the passage of the GENIUS Act, a U.S. stablecoin regulatory bill, according to the report.

U.S. Commodity Futures Trading Commission Chairman Michael Selig said the agency is building a cryptocurrency regulatory framework using its existing legal authority, CNBC reported. In a CNBC appearance on Sept. 23, Selig said now is the right time and added President Donald Trump had pledged from his first day in office to complete the crypto market structure and establish clear regulatory policy. Selig said the rules are now being rolled out, whether through legislation or agency rulemaking, and added regulators already have substantial legal authority. Selig also stressed that regulators will continue issuing rules to prepare for what he described as the frontier of new finance.

According to a filing from the U.S. Office of Government Ethics, U.S. President Donald Trump bought between $50,000 and $100,000 worth of Strategy (MSTR) shares in July. The purchase was the largest cryptocurrency-related trade listed in the filing. Trump also bought Coinbase shares and sold MARA Holdings and CleanSpark stock.

The three major U.S. stock indices closed lower today. - S&P 500: -0.75% - Nasdaq: -1.13% - Dow Jones: -0.68%

Kalshi said it is not under investigation by the U.S. Commodity Futures Trading Commission over prediction market trading activity, according to CoinDesk. The company said it has not received any contact from the CFTC. The statement followed earlier reports alleging that more than half of trading volume in Kalshi’s Bitcoin and Ethereum perpetual futures markets was driven by repetitive trading by a specific bot. The CFTC has said roughly 1 million trades in the Ethereum market appeared to have been executed in similar amounts, and it would decide whether to open an enforcement probe after reviewing Kalshi’s trading records.

Patrick Witt, executive director of the White House crypto council, denied claims that the Clarity Act failed in the Senate last week because of President Donald Trump’s personal crypto interests, according to CoinDesk. Speaking at a conference at Georgetown University, Witt said Democrats had politicized the issue. He said a recently passed House bill did not include strict government ethics review provisions, while the main focus of the debate over the Clarity Act was the president, and Trump agreed to what Witt described as unprecedented ethics provisions. Witt also argued it was ironic for Democrats to raise concerns about improper conflicts of interest on the grounds that Trump was shaping crypto policy while running crypto businesses, adding that many senators on the Banking Committee hold and trade shares in financial services companies they regulate.

Glassnode said Bitcoin could extend its rebound toward the next major resistance zone at $95,000-$97,000 if it holds above $84,000, according to Crypto Briefing. The firm said stronger inflows into U.S. spot Bitcoin ETFs and a recovery in spot-market trading activity could support the move. Glassnode added Bitcoin is now trading above the True Market Mean, or TMM, at $77,000, which it described as the average cost basis of active BTC excluding long-dormant supply, and has also moved past the $84,000-$85,000 range where long-term holder supply is concentrated. The next key resistance is around $96,700, a zone close to where options market positions are also concentrated, it said. If Bitcoin falls back below $84,000, however, the $77,000 support level could come back into focus. Glassnode also said selling pressure has remained relatively limited during the latest advance, with holders not yet moving aggressively to take profits.

Bitcoin’s move above $80,000 was driven by strong demand from institutional investors and ETFs, an improving regulatory backdrop, and a more supportive macro environment, The Block analyzed. The outlet said some analysts view the advance as a sign Bitcoin may have already passed the cycle bottom, while others warned the rally could be vulnerable to a pullback, citing lower trading volume, narrowing market breadth, and derivatives positioning that shows less conviction than before.

Hut 8 (HUT) has been selected as the winning bidder for two Texas data centers owned by Bitcoin mining pool Poolin, The Block reported. Hut 8 offered $140 million, about three times the combined $52 million minimum bid set for the two facilities. Poolin said in late July it filed for Chapter 11 bankruptcy protection and planned to sell its Bitcoin mining facilities in Texas. Poolin’s liabilities total about $173 million, including $164 million tied to unsecured IOUs issued to wallet users.

Strike CEO Jack Mallers said in an interview with CoinDesk that as fiat currencies lose purchasing power, it is clear investors need to hold scarce assets similar to real-world assets, and Bitcoin is, in Mallers' view, the answer to where that money should be stored.

All 11 Democratic members of the U.S. Senate Banking Committee are urging Chairman Tim Scott to hold a hearing on prediction markets, The Block reported. The push follows reports that the committee is set to hold a prediction-market roundtable attended only by Republican senators.

U.S. SEC Commissioner Mark Uyeda said the agency withdrew crypto-related lawsuits to avoid damaging the regulator’s credibility. According to Eleanor Terrett, host of the U.S. podcast "Crypto in America," Uyeda said continuing to defend legal interpretations in court that could soon be reversed would have risked undermining the SEC’s credibility. Uyeda added the SEC is moving toward a complete shift in its legal interpretation. Uyeda also said the SEC’s new innovation exemption framework for securities tokens is a kind of pilot program and could create significant opportunities for both new market entrants and established traditional financial firms.

Patrick Witt, executive director of the White House crypto committee, said the Trump administration will continue pushing the Clarity bill, The Block reported. Speaking at a conference at Georgetown University, Witt said the future of digital assets is bright and described the bill’s failure to pass this time as disappointing, while adding there may be another opportunity in the future. Witt also said the administration will work to provide as much regulatory clarity as possible through policy.

Jeffrey Huang, the Taiwanese singer known as Machi Big Brother, is sitting on an unrealized loss of $100,000 as the crypto market undergoes a short-term correction. Huang had been up about $4 million on paper, but the latest pullback pushed the position into the red. Huang has continued to increase long positions in ETH and HYPE while trimming a BTC long position. Huang currently holds a 25x long on 37,500 ETH, a 40x long on 125 BTC, and a 10x long on 213,000 HYPE.

NEAR has risen by 5.45% in the past five minutes on the COINNESS market. Currently, NEAR is trading at $4.29.