Kategorie: Bitcoin News

• Bitcoin has surged back above $115,660 amid a powerful rally.
• The move is fueled by a massive $757 million net ETF inflow in one day.
• Traders are now pricing in a 92 percent chance of a Fed rate cut next week.

The slumbering giant has awakened. Bitcoin has roared back to life, surging past the critical $115,660 level in a powerful display of force, fueled by a perfect storm of renewed institutional hunger and a macroeconomic landscape that is increasingly tilting in its favor.

The move marks a decisive break from the summer’s stagnation, with a torrent of capital now flooding into the asset as the market braces for a pivotal policy shift from the Federal Reserve.

The institutional stampede

The clearest and most powerful catalyst for the rally is the dramatic return of institutional buyers. On September 10, US spot Bitcoin ETFs recorded a staggering $757 million in net inflows, the single strongest daily intake in eight weeks.

This brings the total for September to an impressive $1.39 billion, a clear sign that the voracious appetite that drove the market to all-time highs is back.

This institutional stampede was broad-based, with all twelve US spot Bitcoin ETFs recording inflows.

The charge was led by Fidelity’s FBTC, which absorbed over $156 million, and Ark’s ARKB, which took in $84 million. The renewed conviction was also visible in the futures market, where open interest rose a formidable 6.6 percent to $43.3 billion.

The shifting sands of the macro landscape

This flood of institutional capital is being met with an increasingly favorable macroeconomic tide. A volley of conflicting but ultimately dovish economic data has all but cemented the case for a Federal Reserve interest rate cut next week.

While the Consumer Price Index (CPI) came in slightly hot, it was completely overshadowed by an unexpected drop in the Producer Price Index (PPI) and a spike in initial jobless claims to their highest level since October 2021.

This combination of cooling wholesale inflation and rising labor market stress has traders now assigning a commanding 92 percent probability to a quarter-point Fed cut next week, according to the CME FedWatch tool.

A glimpse of the supercycle?

While the short-term picture is being driven by flows and Fed hopes, a far more dramatic story is being sketched out on the long-term charts.

From a structural standpoint, Bitcoin’s weekly chart is displaying two powerful inverse head-and-shoulders patterns, formations that have technical analysts buzzing about the dawn of a new supercycle.

The smaller pattern, confirmed after July’s breakout, projects a target near $170,000. A much broader formation, which dates back to 2021, remains active and points to an almost unbelievable long-term target of $360,000.

While these are just technical projections, they are adding a powerful layer of long-term bullish conviction to the short-term speculative fervor.

The great rotation

The rally’s strength is further amplified by a clear and significant rotation of capital within the crypto ecosystem itself.

While Bitcoin ETFs are flourishing, their Ethereum counterparts are bleeding. ETH-focused ETFs have seen $668 million in outflows in September, a stark divergence that underscores a clear market preference for Bitcoin in a macro-driven environment.

While other large-cap tokens are mixed, the message from the institutional world is clear: in this new chapter of the bull market, the king is reclaiming his throne.

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• Total BTC treasury holdings have hit a record high of 840,000 BTC.
• However, the average purchase size has collapsed by a staggering 86 percent.
• This waning demand was the key driver of the Q2 Bitcoin rally.

They were the heroes of the last great rally, the talk of the town at the recent BTC Asia conference, their voracious appetite for Bitcoin single-handedly driving the market to new heights.

But a shadow has fallen over the world of the corporate Bitcoin treasury.

A new report reveals a worrying trend beneath the surface: while their total holdings are larger than ever, their conviction, measured by the size of their buys, has collapsed.

The great contradiction: more players, smaller bets

The on-chain data, laid bare in a new report from CryptoQuant, tells a tale of two conflicting truths.

On one hand, the aggregate Bitcoin treasury holdings have surged to a record 840,000 BTC, a war chest led by the titan Strategy, which holds 637,000 BTC. Transaction activity also remains near record levels, with 46 deals in August alone.

But on the other hand, the average size of these purchases has fallen off a cliff. Strategy bought just 1,200 BTC per transaction in August, while other firms averaged a mere 343 BTC.

Both of these figures are down a staggering 86 percent from their peaks in early 2025. In total, Strategy acquired only 3,700 BTC in August, a whisper compared to the 134,000 BTC it bought at its peak last year.

This is not the behavior of a market brimming with confidence; it is the sign of smaller, more hesitant buys, a clear signal of liquidity constraints or waning conviction.

The ghost of rallies past

This dramatic slowdown is a major concern for investors because it was the relentless engine of treasury accumulation that drove Bitcoin’s spectacular price growth in the second quarter.

As CoinDesk reported at the time, by late August 2025, institutions were absorbing more than 3,100 BTC a day against a mere 450 being mined.

This created a powerful 6-to-1 demand-supply imbalance that sent prices soaring.

Now, that engine is sputtering. This slouching demand raises the critical risk that the market’s current price strength may not be sustainable if the giants of the space continue to nibble cautiously rather than devour at scale.

A new hope? The rise of Asia’s treasury front

But as the Western giants grow hesitant, a new front in the treasury movement is opening in the East.

According to a Bitwise report, 28 new treasury companies were formed in July and August alone, collectively adding over 140,000 BTC to their coffers.

More significantly, Asia is emerging as the next major battleground. Taiwan-based Sora Ventures has launched a massive 1 billion dollar fund specifically to seed new regional treasury firms, with an initial commitment of 200 million dollars.

This new vehicle will pool institutional capital to support a fresh wave of entrants, a different model from the region’s current largest player, Metaplanet.

The stage is now set for a fascinating and pivotal confrontation.

The central question that will define the next phase of Bitcoin adoption—and its price—is whether this new, hungry wave of Asian treasuries can offset the shrinking appetite of the incumbents who first blazed the trail.

Market updates

BTC: Bitcoin remains resilient for now, trading in the 110,000–113,000 dollar range. The price is being supported by broad expectations of Federal Reserve rate cuts and continued, if smaller, institutional inflows via ETFs.

ETH: Ethereum is trading near the 4,300 dollar level. Its recent weakness, marked by a 3.8 percent weekly decline, is being attributed to ETF outflows and the historically subdued trading that characterizes “Red September.”

However, its longer-term outlook remains positive, buoyed by deep institutional interest and growing staking activity.

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• Top US regulators have jointly cleared a path for spot crypto trading.
• The move is a stark reversal from the previous, more skeptical administration.
• Registered exchanges are now invited to engage with the SEC and CFTC.

The floodgates to the heart of the American financial system have been thrown open.

In a landmark and coordinated move, the nation’s top markets watchdogs have given their official blessing for registered trading platforms to deal in spot crypto assets, a stark and powerful reversal that signals a new, pro-innovation era for the digital asset industry.

The joint statement from the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) on Tuesday is the clearest sign yet of the tectonic shift in Washington’s approach to cryptocurrency.

Under the previous administration, the industry was met with hesitation and skepticism.

Now, under regulators appointed by the avowedly pro-crypto President Donald Trump, a wide and clear path is being paved for digital assets to integrate into the existing financial system.

A coordinated push from the top

This is not a tentative step, but a coordinated sprint.

The agencies revealed that under the SEC’s “Project Crypto” and the CFTC’s ongoing “crypto sprint,” their leaders are actively pushing to fulfill President Trump’s mandate to establish the US as the world’s preeminent crypto hub.

The regulators declared their unified view that existing, regulated exchanges “are not prohibited from facilitating the trading of certain spot crypto asset products.”

This includes CFTC-registered designated contract markets (DCMs) and SEC-registered national securities exchanges (NSEs).

In a clear invitation to Wall Street, the agencies are now encouraging such entities to contact their staff to figure out how to move forward.

The philosophy behind the move was articulated by the leaders themselves.

“Market participants should have the freedom to choose where they trade spot crypto assets,” said SEC Chairman Paul Atkins in a statement.

His counterpart at the CFTC, Acting Chairman Caroline Pham, echoed this sentiment, calling the joint statement “the latest demonstration of our mutual objective of supporting growth and development in these markets, but it will not be the last.”

Clearing the path as Congress deliberates

While the statement did not detail which specific cryptocurrencies would be covered, referring only to “certain spot crypto asset products,” its intent is unmistakable.

The regulators are acting decisively, using their existing authorities to open the financial system to crypto now, even as Congress continues its slow and deliberate work on a more sweeping set of market rules.

This move also directly addresses one of the most persistent and problematic holes in US crypto oversight: the CFTC’s historical lack of clear authority to fully regulate the spot market, where the actual assets are changing hands.

By inviting registered firms to engage, the agencies are effectively building a regulatory bridge while the legislative foundation is still being laid.

The message to the financial world is clear: the era of waiting is over, and the time to build is now.

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