Global markets fell with the Dow Jones (-0.55%), the S&P 500 (-0.69%), and the Nasdaq (-0.82%) all closing lower. The losses came amid rising global bond yields and concerns over increasing debt piles in major economies. Euro zone inflation rose to 2.1% in August, exceeding expectations, while the US saw a slowdown in its “Core GDP” nowcast. Trump’s tariffs and trade policies remained in focus, with the president signaling an imminent Supreme Court appeal to protect his tariffs and announcing plans to punish Russia if it doesn’t agree to peace talks with Ukraine.
The global crypto market cap increased 0.2% in the past 24 hours to $3.81tn.
- In the past 24 hours, crypto liquidations decreased by 42% and totaled $241m, split equally between long and short positions.
- According to SoSo Value data, US Spot BTC ETFs saw a surge in daily net inflows, reaching $332.8m. This influx contributed to the total assets under management (AUM) reaching $143.2bn. The daily volume also remained robust at $3.9bn. Notably, this increase in inflows stands out amidst recent weekly trends, which had seen a mix of inflows and outflows, including a substantial -$1.2bn net outflow in the week of August 18-22.
- According to data from SoSo Value, US Spot ETH ETFs saw a second net outflow, of $135.4m, on Friday. Overall, the market’s performance on this date suggests a reversal of the recent upward trend, with investors pulling out substantial amounts, which may indicate a shift in market sentiment.
- The US Securities and Exchange Commission and Commodity Futures Trading Commission issued a joint statement on Tuesday clarifying that existing law does not prevent regulated exchanges from listing spot crypto products, inviting market participants to engage with regulators as traditional finance venues like Nasdaq, NYSE, and CME Group may now be eligible to offer spot cryptocurrency trading alongside existing crypto exchanges.
- MicroStrategy purchased 4,048 Bitcoin for $449.3 million between August 25 and Monday at an average price of $110,981, bringing total August acquisitions to 7,714 BTC and total holdings to 636,505 BTC worth about $46.95 billion, according to an SEC filing on Tuesday, as the company’s stock fell 16% since reporting record Q2 earnings despite raising its STRC dividend to 10%.
- Bitmine Immersion Technologies, the world’s largest corporate ether holder, has announced it holds 1.87 million ETH, which accounts for more than 1.5% of the total ether supply.
- Coinbase announced the launch of “Mag7 + Crypto Equity Index Futures” on September 22, which will track the seven largest US tech stocks alongside BlackRock’s Bitcoin and Ether ETFs plus Coinbase’s own stock in equally weighted 10% allocations, marking the exchange’s first major derivatives move since acquiring Deribit for $2.9 billion in May and representing the first US-listed derivative to combine equities and cryptocurrencies in a single futures product.
- An attacker exploited a flaw in decentralized exchange Bunni’s custom liquidity logic to drain around $2.4 million in stablecoins, leading the platform to pause all contracts in response to the major security breach.
