- Bitcoin fell to $83,923.01 today but remains up over 10% weekly.
- Australia’s PM confronted OpenAI over a delayed government breach report.
- Kalshi denies CFTC probe into unusual Bitcoin and Ethereum trade patterns.
The global crypto market cap fell 2.9% to $2.95 trillion over the past 24 hours. Bitcoin traded at $83,923.01, down 2.3% on the day but still up 10.5% over the past week. Ethereum changed hands at $2,674.17, down 2.5% in 24 hours though up 10.7% over seven days.
BNB fell 2.0% to $768.56, up 6.5% weekly. XRP dropped 5.1% to $1.49, still up 15.7% over the week. Solana slid 2.6% to $114.73, up 16.1% over seven days. Zcash fell 6.0% to $1,499.30, up 11.2% on the week. Hyperliquid’s HYPE token rose 4.6% to $92.11, up 17.5% over seven days.
The pullback followed a broader risk-off shift in traditional markets. The U.S. 5-year Treasury yield rose to 5.032%, its first move above 5% since 2007, while the 10-year yield climbed back above 5.025% and the dollar index touched 101 for the first time since July 30.
Fed Governor Michael Barr said further rate hikes may be needed to bring inflation back to the 2% target in a timely manner, adding that risks to that goal have increased even as labor market risks have eased.
Trending Searches
Nillion led trending searches, up 58.8% to $0.1412. Lighter followed, up 3.3% to $5.32, and NEAR Protocol rose 0.3% to $4.35. Among top gainers, ALEO surged 124.9% to $0.03777, Neon climbed 109.9% to $0.06098, and TDCCP rose 100.6% to $0.05827.
Dollar Stablecoin Push
The Trump administration is considering a plan to promote dollar-denominated stablecoins overseas to reinforce the dollar’s status as the global reserve asset, according to Bloomberg, potentially through joint ventures with private companies aimed at boosting demand for U.S. Treasuries.
Kalshi Trading Pattern Draws Scrutiny
Kalshi said the CFTC has not contacted the company and that it does not believe it is under formal investigation, pushing back on reports that its Bitcoin and Ethereum perpetual contract markets are under regulatory review.
The Wall Street Journal reported that most trading volume in these markets consists of near-identical trade sizes, with Ethereum perpetual trades clustered around $5,500 and Bitcoin trades around $2,500 or $5,000, and that the CFTC is reviewing the pattern to decide whether to open an enforcement investigation.
Institutional and Corporate Moves
BlackRock’s digital asset research team published a report arguing that AI agents making high-frequency, low-value payments for API calls, data access, and compute rental could become a significant driver of stablecoin and crypto demand growth, since traditional bank rails are poorly suited to that use case.
Hut 8 won a $140 million bid for two Texas data center sites owned by bankrupt miner Poolin, pending bankruptcy court approval at a September 29 sale hearing.
Kalshi filed a proposed rule change with the SEC to list perpetual futures on U.S. stocks and ETFs with market caps of at least $100 billion and daily volume above $450 million. NYSE and Blockchain.com are exploring tokenized versions of U.S.-listed stocks, according to Reuters, while MoonPay agreed to acquire brokerage services firm North Capital for more than $60 million to expand into tokenized securities.
ETF Flows
U.S. Bitcoin ETFs saw a net inflow of 7,107 BTC, with a 7-day net inflow of 20,738 BTC, according to Lookonchain. Ethereum ETFs added 67,597 ETH in a single day, with a 7-day net inflow of 86,117 ETH. SOL spot ETFs recorded $13.77 million in net inflows, led by Fidelity’s FSOL, while XRP spot ETFs added $18.04 million, led by Bitwise’s XRP fund. HYPE spot ETFs saw a modest $1.58 million outflow.
Whale Activity
A whale transferred 42,000 ETH worth approximately $111.88 million to Galaxy Digital for sale, having accumulated the position through Galaxy’s OTC channel over the prior two months.
Four newly created addresses believed to belong to the same entity withdrew 31,979 ETH worth $85.68 million from Coinbase following the recent pullback. Bitwise’s first institutional adoption survey found that none of 15 large institutions surveyed reduced crypto holdings during the market’s roughly 50% drawdown between Q4 2025 and Q2 2026, with several increasing exposure instead.
Related: Hut 8 Wins $140M Bid for Poolin’s Two Texas Data Centers
Related: SEC’s Uyeda Says Dropping Crypto Cases Helps Protect Agency Credibility
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