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How many people are stubbornly holding onto $CORE, not because they see the ecosystem about to explode, but because they are trapped in a psychological prison.
After the hype of the Hong Kong Bitcoin Conference, a series of vulnerability incidents followed, with the script more coherent than the whitepaper. Liquidity continues to dry up, old commercial nodes gradually exit, new official nodes come online, controversy over token issuance arises immediately, the whereabouts of the chips are not clearly explained, and the coin price has dropped by hundreds of times.
Clearly, the market continues to weaken, so why are holders unwilling to leave? Five layers of psychological shackles trap holders:
Sunk cost: Having invested years and hundreds of thousands of capital, leaving means admitting a total loss, unwilling to admit defeat.
Loss aversion: Not selling means losses are just on paper; once sold, losses are finalized, instinctively avoided.
Cognitive dissonance: Unwilling to admit judgment errors, constantly collecting positive news to convince themselves the project will eventually take off.
Social validation: The community rallies together, creating the illusion that with so many holding, they can’t all be wrong.
Authority bias: Assuming reliability just because the exchange lists it, deliberately ignoring token sell pressure and landing difficulties.
The smarter the person, the easier it is to fall in, constantly finding reasons to beautify their faith.
Many are still bitterly waiting for 0.5U, but returning to this price level is extremely difficult. Promotion continues to update, narratives are repeatedly recycled, but actual landing products are few, slogans always ahead of products.
The scariest thing about investing is not the price drop, but being blinded by obsession, watching the principal shrink, unwilling to face the risk.
⚠️This is only a personal market observation and does not constitute investment advice. Virtual currencies are highly volatile and carry high risk.秋分刚过，夜里开始有了凉意。在屏幕前盯盘久了，有时候会觉得那些红绿交织的K线特别虚幻，反倒是菜市场和超市里的烟火气更让人踏实。 下周市场的目光全都聚焦在两个看似毫无关联的庞然大物身上：一个是卖便宜烤鸡和家庭大包装的Costco（开市客），另一个是喂饱AI服务器算力胃口的存储巨头美光（Micron）。前者在9月24日盘后亮剑，后者紧随其后在9月30日出牌。这两份财报，就像一面照妖镜，一边映出底层普通消费者的钱袋子到底还剩多少韧性，另一边则直接拷问那场狂热的AI基建叙事究竟还能烧多久。 很多人只盯着Costco之前披露的高达939亿美元的季度净销售额，看那同比11.3%的增长欢呼雀跃。但我在这行泡了这么多年，更在乎的是脱掉燃油和汇率外衣后那6.7%的同店真实增速，以及最重要的——续费率与利润率。当通胀的钝刀子割肉割了整整两年，美国家庭是不是还在咬牙给会员卡充值？如果连Costco的会员增长都开始显露疲态，所谓的“软着陆”不过是华尔街编织的遮羞布。 转头看美光，财报指引凶悍得吓人：500亿美元营收、约86%的毛利率预期，赤裸裸地展现了AI高带宽内存（HBM）的溢价狂欢。这让我想起SK海力士此On September 22, six major Canadian banks announced they would jointly explore a Canadian dollar digital currency solution, with the first phase testing the transfer of tokenized deposits between participating banks. Participants included BMO, CIBC, National Bank, RBC, Scotiabank, and TD. The announcement said it might connect with other digital asset projects in the future, but did not commit to issuing a new token for the public immediately. The most common misunderstanding here is to treat "tokenized deposits" directly as stablecoins. Both can represent value on distributed ledgers, but their liability relationships differ. Tokenized deposits represent deposit obligations already assumed by banks, and banks remain debtors. Fiat stablecoins are usually issued by independent issuers, with holders facing the issuer's reserves, redemptions, and compliance arrangements. Canada's OSFI statement on September 10 was more direct: the technical form of financial products does not determine their legal nature, and tokenized deposits are legally no different from traditional deposits. In other words, putting deposits into a DLT record system does not automatically change whose liabilities they belong to, nor does it automatically grant them the nature of free transfer. The first phase only involves interbank transfers, and this scope is also very important. It is not a payment network that personal wallets can already access, does not mean ordinary users can import bank balances to arbitrary addresses, and it does not mean tokenized deposits have already been swapped with stablecoins or public chain assets. If such assets enter wallets or settlement interfaces in the future, the balance field should at least be split: whoever issues it, whoThe market has returned to a long-lost rhythm: Bitcoin $BTC is consolidating sideways, while mainstream altcoins are catching up.
$UNI Uniswap has become the beneficiary of this round of Robinhood stock token deposits, capturing 99% of the share, with its price continuously hitting new highs, multiplying 5 times in just 3 months.
During Bitcoin's sideways consolidation, low-position mainstream altcoins are catching up, prioritizing those in the top 100 by market cap. Typically, before a holiday, the market has a time lag of about 3-5 days; today counts as the first day.
As long as BTC does not fall below 83,000, the basic market condition remains intact. But judging by the current market performance, the mainstream altcoins in the later ranks are successively moving and catching up, even BCH and LTC are rising.
One phenomenon I have observed is that $OKB often acts as the last to catch up. So if you see $OKB starting to rally, then don't recklessly add positions in the following days; just focus on holding $OKB.Bitcoin has just shown a signal that has led to a bull market 4 times before but was also a trap 2 times!
BTC has closed the week above the 50-week MA after a long period below it. History records 6 similar instances:
4 times → continued bull market
2 times → false signal
Long-term holders are still accumulating
BTC just closed the week above $78,788
But the signal is not yet confirmed. It requires 2 more consecutive weekly closes above the 50-week MA.
Will this time $BTC join the group of 4 bullish signals or the 2 previous “traps”? 👀
#Bitcoin #BTCTreasuryFundingRise ORLA MARKET NOTE｜MIDDAY EDITION
09.23｜11:32｜Midday Session
Current prices｜BTC 86626｜ETH 2767 ━━━━━━━━━━━━━━━━ The market these past two days is like a crowd rushing into a mall with cash, but when they reach the 87000 gate, the security guard stretches out his hand: "Money can come in, but prices must queue outside first." ETF funds are genuinely buying, and the sell orders above are genuinely pressing down. Some see capital inflows and blindly chase longs, some see a single pullback and immediately shout top, one only reads news headlines, another only watches the current candlestick, and when two people get together, they just happen to form a complete losing process. Good afternoon everyone, I’m your Orla. Farside data shows that the US spot Bitcoin ETF had a net inflow of about 999 million on September 21, and about 364 million disclosed net inflow on September 22; Ethereum ETFs had net inflows of about 270 million and 71.3 million respectively during the same period. Continuous capital inflows have fueled the rise, but a full tank of fuel doesn’t mean the car can fly directly into the sky; profit-taking and trapped positions near 87000 are lining up to get off. Tonight at 22:05 and 22:20 Beijing time, there will be two speeches by Federal Reserve officials. Although these are not rate decisions, the market is like an ear pressed against the Fed’s door; if there’s a cough inside, leveraged funds outside might tremble three times first. If the speeches don’t signal new tightening, the capital environment will still favor bulls; if ratesExternal KOLs speak out collectively! What exactly is CORE's core advantage?
KBW Korea Blockchain Week is underway, with the CORE team exhibiting offline. Overseas X platform influencers are engaging in collective discussions, with many considering CORE a unique player in the BTC-Fi sector.
Key differentiators:
1. Satoshi Plus consensus: integrates Bitcoin hash power + DPOS, with underlying security guaranteed by Bitcoin miners' hash power. Unlike other BTC-Fi layer-2 solutions, it does not rely on other public chain infrastructures.
2. Native L1 Bitcoin staking: users can directly stake BTC on the CORE chain, unlocking Bitcoin DeFi value. This is the foundational narrative of the community.
3. Accelerated global offline expansion: continuous offline salons in Southeast Asia and Korea, consistently connecting with overseas capital and developers to expand the global community.
However, these advantages are theoretical and require time to materialize.
The biggest current shortcoming: relatively few ecosystem applications, slow growth in on-chain activity, and token circulation selling pressure remain ongoing points of contention within the community.
From a market perspective, CORE is currently priced at 0.02276, showing a short-term rebound of +28.36% over 7 days, but with significant long-term decline. The $0.5 price mentioned by overseas influencers is a very optimistic long-term assumption, requiring both a major bull market and ecosystem explosion; it should not be used as a short-term trading target.
Market contention point: whether KBW can bring ecosystem growth will determine how far this rebound can go.
#OKX星球话题来啦 After playing poker for so many years and then trading, I've concluded one thing: the real opportunities to make big money only come a few times a year; the rest of the time is just waiting. $ETH and $SOL have rebounded with the market these past couple of days, and the comment section is lively again—"Is the bull market back?" My answer is: maybe, but this isn't the kind of opportunity worth risking your entire stake on. There are two types of opportunities: one that makes your hands itch, and one that you are certain about. The former happens every day; the latter is very rare. Save your big bets for the latter if you want to survive long in this market. Was the last real big opportunity you had one you seized or missed?Brothers and sisters, there's something interesting today—the total market cap briefly climbed back to ₿3 trillion intraday. Although the panic and greed index cooled from 78 "extreme greed" yesterday to 71 "greed," to be honest, 71 is still called "greed," indicating that bullish sentiment hasn't faded at all—it's just shifted from frenzy to "rational excitement" mode. Let's break them down one by one. ₿ BTC: Bears Bloodbathed by 1 Billion, ₿90,000 Is the Next Life-and-Death Line Bitcoin has risen about 15% over the past 7 days, reaching an intraday high of ₿87,363, the highest since January this year. The core logic behind this rally is very clear: the price broke through the previously suppressed $82,000 to $86,000 range, which attracted a large amount of short positions. After the breakout, short positions were forced to cover, and liquidations exceeded $1 billion, effectively amplifying the rally. More noteworthy are the on-chain signals. Glassnode pointed out that Bitcoin has regained its upper boundary above the main long-term moving average that had been running below it for about 300 days, and the price is also above the "True Market Mean" and the average buying cost for short-term holders, seen as a key dividing line for the market entering a strong upward phase. Over the past week, over 1 million Bitcoins were transferred on-chain, corresponding to more than $92 billion, marking a four-year high. How to view the key points? The $90,000 above is a tough nut—Deribit data shows that the open interest in options near the $90,000 to $100,000 strike price and nearing expiration totals about $7.7 billion, of which 9Why did DOGE suddenly start to surge?
I believe this rise is not caused by a single factor but by several factors occurring simultaneously.
First, there is a clear rebound in risk appetite across the entire crypto market.
Recently, after BTC reclaimed a key level, capital began to flow from Bitcoin to ETH and high-volatility altcoins. DOGE itself is a token very sensitive to market liquidity and sentiment, so once the market enters a risk-on phase, its gains often significantly exceed those of BTC.
The second reason is short squeeze.
During this rally, a large number of DOGE short positions were forced to close, creating a cycle of "rising—short squeeze—continued rise."
Data shows that around September 21, over $1 billion in short positions were liquidated across the crypto derivatives market, with DOGE short liquidations amounting to about $12.66 million.
This explains why DOGE suddenly accelerated in a short time.
Because once the price breaks through a key level, those who were short have to buy back to close their positions, and these buy orders further push the price up.
Is there real capital participation in this rise?
This is also worth noting.
Recently, DOGE has seen a noticeable increase in whale addresses accumulating it. Data shows that before and after the rise, large addresses bought a total of about 240 million to 360 million DOGE.
At the same time, spot DOGE ETF inflows have also recovered, with about $900,000 flowing in on September 21 alone. Personally, I tend to take short positions for quick profits and exit.OKX will launch the 2x MicroStrategy MSTU perpetual contract this afternoon, which can be traded with USDT and allows leverage on leverage.
OKX just announced that at 17:00 today, the MSTU/USDT perpetual contract will go live. Using USDT, you can directly trade a 2x long MicroStrategy ETF contract.
MSTU tracks the 2x MicroStrategy MSTR. Previously, it could only be traded during U.S. stock market hours. This time, OKX settles in USDT, allowing 24/7 trading. The funding fee is deducted every 8 hours. In the same batch, there are also the STAR 50 ETF KSTR, mining company CYPH, and GitLab, scheduled to open successively between 17:15 and 17:45.
I glanced at the bottom of the announcement where the official notice in bold states that MSTU itself has daily 2x leverage. If the contract adds more leverage, the liquidation price will be very close to the cost. MicroStrategy holds all Bitcoin. Currently, OKX's BTC spot price is quoted at 86,490 USDT. During the U.S. stock market closure, without a spot benchmark period, price gaps are most likely to occur.
This afternoon, I first added it to my favorites on the app's contract market page. After the 17:00 opening, I will observe the bid-ask spread and funding rate of the first two 15-minute candlesticks. Before the order book depth fills several hundred lots, I will avoid placing large market orders outside of market hours.I’m getting close to my limit. I’m planning to give the trade one more day, but if the market still refuses to pull back, I’ll have to accept the loss and close the position. Honestly, this entire move has been stressful. My biggest fear is BTC suddenly ripping toward $90,000 and taking out my position. After going through this, I’ve learned an important lesson: I don’t want to stubbornly hold onto a losing position anymore. There’s no need to fight one trade to the bitter end. The market is fulHere's a contradictory signal for you: the $BTC price has basically been flat at a high level these past two days, but the market's fear and greed index has surged to "extreme greed." The price isn't rising, but the sentiment is already high—this is what I call a bearish divergence. A short squeeze can push the price up, but who ends up holding the bag afterward? It's those who rush in, seeing the screen full of profit opportunities and fearing missing out. The most dangerous moment in a market isn't usually a crash, but when everyone thinks they're guaranteed to make money without risk. Don't hold their bags when everyone else is greed to the extreme. Do you think this is greed, or a real bull run?The driving forces behind the three major mainstream coins $BTC $ETH $SOL have shifted from weak recovery to short-covering combined with ETF capital inflows. At this time, what should be more cautious about is not an immediate large pullback, but the market mistaking a short squeeze for a new trend, leading to chasing and adding positions near 86,000, 2,760, and 119.
BTC: Has reclaimed the long-term moving average, marking the strongest structural recovery in nearly 300 days. Supports at 85,200, 84,000, 83,000; resistances at 86,800, 87,400, 88,000-90,000. The 83,000-86,000 former short concentration zone has turned into short-term support. Medium-term bias is bullish, but the current price is better suited for waiting for a pullback rather than chasing highs.
ETH: On-chain and institutional funds continue to accumulate. Supports at 2,700, 2,640-2,560; resistances at 2,800, 2,890, 3,000. 2,700 is a key dividing line: holding above it means 2,800-3,000 can still be tested; breaking below points to support near 2,640.
SOL: ETF inflows are present, with contract positions relatively high. Supports at 114, 110-107; resistances at 120, 123-125. Maintaining strength above 114; a break below requires caution for a pullback. Leverage is heating up faster than spot demand.
The total crypto market cap has returned to 3 trillion. Today's focus: US PMI data and the meeting window between Trump and General Secretary Xi.
Personal opinion, not investment advice.
#BTC冲高$87000，加密总市值重返3万亿
#Strategy再度增持，财库同步加仓 Before this market move occurred, the area around 84,000 to 85,000 USD was already recognized by the market as a dense short liquidation zone. Derivatives analysis shows that when BTC was still trading around 78,300 USD, there was a clear short liquidation zone between 84,000 and 85,000 USD, while 82,300 USD was the important upper boundary of the previous 30-day consolidation range. Therefore, when BTC broke through 82,000 USD, a typical shortsqueeze began: price rises → shorts approach liquidation line → forced buy to close positions → BTC continues to rise → more shorts get liquidated. This explains why the price did not slowly rise from 82,000 USD to 84,000 USD but accelerated rapidly after the breakout. Initially, when BTC broke through 84,000 USD, TECHi estimated about 252 million USD in short positions were liquidated in a short time. But looking back now, 84,000 USD clearly was not the end point of this squeeze. As BTC continued to break through 85,000 USD, the liquidation scale further expanded. In the past 24 hours, more than 750 million USD worth of positions have been liquidated across the market, of which 648.3 million USD were short positions. Subsequently, BTC continued to surge past 87,000 USD #新手必看：这里有你需要的一切 #交易之声：你的经验值得被听到 $BTC 🔥 From the program logic perspective on this big bullish candle of DORA: it is a one-time sudden request, not a stable long connection. $BTC $DORA
Short-term volume breakout above the moving average, but after the surge, it clearly pulled back, indicating a pulse market.
It's like a temporarily triggered interface, prone to timeout and callbacks.
👉 Operation advice:
Do not chase the high. If you want to participate, wait for a pullback near 0.0028, while observing if the volume can stabilize.
For holders, 0.0045 above is strong resistance; if the surge lacks volume, reduce positions in batches.
Writing code and trading are the same: prioritize avoiding unpredictable abnormal fluctuations.
⚠️ This is only market observation and does not constitute trading advice. Virtual assets are highly volatile, and virtual currency trading speculation is strictly prohibited domestically. Please view rationally and stay away from trading.
💬: Would you try to game this sudden spike and pullback?$HYPE rushes toward $100, with ecosystem expansion beginning to extend from perpetual trading to "collateral demand + compliance entry" driven
According to OKX market data, $HYPE is currently priced at $97.04, up 4.03% in 24 hours, reaching an intraday high of $97.84.
The first source of demand growth comes from on-chain lending.
Hyperliquid allows users to collateralize HYPE to borrow USDC or USDT, with the underlying loan assets reaching $269 million on the first day, enabling holders to gain liquidity without selling their coins.
However, the maximum loan-to-value ratio of 65% also increases liquidation flexibility during price drops.
The second source comes from distribution channels.
Payward plans to bring HIP-3 perpetual contracts to approved U.S. customers through Bitnomial and NinjaTrader; if regulatory approval is granted, the deployer must stake 500,000 HYPE.
However, there is currently no approval result or launch date.
Additionally, the first L2 testnet of the Hyperliquid ecosystem has gone live.
Elysium uses HYPE as native gas, aiming to connect more spot and DeFi applications to the Hyperliquid ecosystem, with future development depending on on-chain activity and ecosystem growth.
If lending scale, HIP-3 staking, and Elysium usage continue to grow, $HYPE's demand sources will be broader than just trading fees.
Price often leads expectations; if it cannot translate into real revenue growth soon, $100 will become a strong sell pressure point. BCH and UNI have both been included in CME's futures program this time. On the surface, it looks like the same news, but in fact, the logic behind the two is completely different.
Let's first look at $BCH.
The core logic of BCH is mainstream payment asset + institutional trading entry.
After CME launches BCH futures, institutions can participate in BCH price exposure through compliant derivatives, as well as hedge and manage risks.
So the most direct change for BCH this time is the further improvement of trading infrastructure and institutional participation channels.
Now let's look at $UNI.
UNI's logic is not about payments, but about DeFi infrastructure and tokenized exposure to the leading DEX.
Uniswap itself is an important infrastructure for decentralized trading, and UNI's market narrative revolves more around DeFi, on-chain trading volume, protocol governance, and future value capture.
So don't mix the two:
BCH focuses on institutional trading, liquidity, and payment narratives.
UNI focuses on DeFi fundamentals, on-chain trading, and protocol value capture.
The simultaneous launch of futures for both by CME also has different significance.
For BCH, it adds an institutional trading entry for a well-established mainstream asset;
for UNI, it means traditional financial markets further incorporate the DeFi leader into the compliant derivatives system.
One leans towards payments and institutional trading,
one leans towards DeFi and on-chain finance.
Both directions are worth continuing to watch. A single short position of 38,000 $ZEC is carrying more than $35 million in unrealized losses, and the entire market can watch it bleed in real time. That is the strange new condition of on-chain transparency: a whale's pain is no longer private. It is a public coordinate, and coordinates attract price. The mechanics sit on Hyperliquid, where the largest $ZEC liquidation wall clusters near $1,550, holding roughly $20.4 million of short liquidity. Neighboring walls are less than a quarter of thatSeptember 23 $SNDK Market Analysis: Daily chart further breaks through, the 2000 level may be challenged again!
Yesterday, Sandisk's analysis was that after the evening opening, it might hit 1865-1880 before pulling back. We also opened short positions and took profits. Fortunately, we closed at the previous high of 1840; it rebounded after hitting the previous high. This time, the trader Di Zi really acted like a pro 🤡
Back to the current daily chart, yesterday's close has already surpassed the previous equal highs, which is the primary factor for a breakout. However, last night it was still suppressed by orders on the left side and pulled back. If this level is broken through later, the daily resistance at 2070-2120 will be in sight, so Di Zi's next move is worth looking forward to.
On the 4-hour chart, pay attention to whether the noon 12 o'clock close forms a bearish top pattern, which could cause a slight pullback during the day. After tonight's opening, watch for a possible rebound within the 1780-1790 range, so the 4-hour chart will retest the midline and rise again. This could also frustrate those who chased longs last night.
Therefore, today it might be necessary to change the strategy to going long, because the daily rhythm has already changed. The 2000 level is worth playing with small stop losses at key positions!Strive CEO: As the US dollar debt crisis erupts, Bitcoin could "rise to infinity"
Strive CEO Matt Cole recently said in an interview: Bitcoin against the US dollar can theoretically rise to "infinity."
Sounds ridiculous, right? But his logic is not that Bitcoin will infinitely appreciate, but that the US dollar may keep depreciating.
US debt keeps growing, and the fiscal deficit persists long-term. If in the end debt is still absorbed by issuing bonds, expanding the balance sheet, and currency devaluation, then the US dollar as a "ruler" itself is constantly shrinking.
On the other hand, the total supply of Bitcoin is only 21 million.
So the question arises:
If the US dollar can keep increasing but Bitcoin cannot be infinitely issued, then is Bitcoin getting more expensive or is the US dollar becoming worthless?
This is also the most controversial part of this statement.
Bitcoin rising to 1 million, 5 million, or even higher does not necessarily mean holders are insanely rich; it may just indicate that fiat purchasing power has been severely diluted.
$BTC #BTC冲高$87000，加密总市值重返3万亿 Many people can't distinguish between spot and futures until the day of liquidation. $BTC surges and consolidates, and futures traders suffer the most—the direction doesn't emerge, and leverage wears down your mindset first; a single spike leads to forced liquidation. Spot is different; it can withstand volatility. As long as what you hold has logic, no matter how long it consolidates, there's no fear. That's why I can keep my perpetual futures empty-handed, but always hold the spot I should. Tools aren't right or wrong; the mistake is using leveraged positions that get liquidated to bet on a direction you can't even clearly define. Are you holding a position now, or just a gamble?$BTC volume contraction topping at 87K meets supply, will there be a pullback before the 9/25 options? BTC 86,570 (+1.24%), ETH 2,766 (+1.28%), total market cap 2.95T. ETF single-day inflow 999 million, shorts liquidations account for 80%. Conclusion first: short-term pullback probability is higher than a direct surge to 90K, mid-to-long term bullish structure remains unchanged. Holding above 87,400 targets 90K; breaking below 85,100 means demand exhaustion, expect a pullback first. Volume contraction breakout meets supply, main players are setting short positions at 87K. Will 87,400 hold? Brothers, which side are you on? #BTC冲高$87000，加密总市值重返3万亿 #美伊3小时会谈释放积极信号？
Behind the positive signals, the negotiation framework is highly asymmetrical.
The core objective is to convey the conditions for reopening the Strait of Hormuz:
The U.S. must immediately lift the maritime blockade, unfreeze all Iranian assets, and end wars on all regional fronts.
A senior Iranian official stated that if the U.S. lifts the blockade, Iran can reopen the strait within 7 days.
The U.S. stance is equally complex. On the day of the UN General Assembly opening, Trump first claimed he could quickly "destroy" Iran, then later said he did not rule out reaching an agreement after the midterm elections in November, directly linking Iran's negotiation willingness to the domestic political schedule.Federal Reserve officials are making intensive statements: How much longer will rate hikes last? Combined with the central bank's statement yesterday, there is an interesting contradiction in this round of market trends.
On September 16, the Federal Reserve raised interest rates by 25 basis points to 3.75%–4%, while also stating that inflation remains elevated; Recently, officials like Moussalem have continued to signal that further tightening may be necessary. Moussalem even believes that if tightening is not done further, the risk of inflation significantly exceeding the 2% target in the next 18 months is greater.
So now, what the market is really trading is no longer about "whether to raise rates in September," but where the end of this round of rate hikes will end and how long high rates will last.
If inflation continues to exceed target and the Fed continues to raise rates or extend the period of high interest rates, the dollar and Treasury yields may continue to put pressure on BTC, gold, and overvalued tech stocks; Conversely, if economic data starts to cool significantly and inflation falls in tandem, the market may trade for an early "end of rate hikes," easing liquidity pressure on risk assets.
Interestingly, BTC has not weakened directly due to the Fed's hawkish stance; instead, it has rebounded to previous highs. This indicates that other forces are currently supporting the BTC market, including global risk appetite, institutional funds, and short covering.
Let's look at the People's Bank of China's statement yesterday.
On September 22, the People's Bank of China reiterated that conducting virtual currency-related business domestically constitutes illegal financial activities, and clearly stated that without legal and regulatory approval, RMB-linked stablecoins cannot be issued abroad.
At the same time, the People's Bank of China made this clear at the symposium with foreign financial institutionsI'm impressed, ZEC.
It first surged to 1598, then suddenly dropped to 1442. I almost thought the bears were about to turn the tide and was ready to place orders at 1300. But it just brushed 1442 and bounced straight back to 1550, reclaiming over a hundred dollars on the spot. This isn't a drop, it's pure baiting; with a slight shake of the line, all the shorts got caught.
Recently, those shorting it have been scared off, from 1130–1150 up to around 1500, more than thirty points. Every time it retraced, someone bought in, then it kept pushing up, like there's a magnet at the bottom. BTC is back above 86000, and the major altcoins are taking turns to rally.
ZEC is now at 1600; if it can hold steady, 1800 is worth a look, but don't get overexcited. Shorts are temporarily scared off; short if you want.
$ZEC $ETH $BTC
#BTC冲高$87000，加密总市值重返3万亿 #ZEC巨鲸3.8万枚空单平仓，亏损超3500万美元 $UNI current price 10.75, 24h surge of 18.38%, trading volume 225.5M USDT, funding rate +0.0226%, fear and greed index at 71, in the greed zone. MA5=10.5422 crosses above MA20=9.53585, MACD histogram +0.1571 maintaining bullish momentum, but RSI has soared to 77.0, price 10.75 closely hugging the upper Bollinger band at 10.8787, 30 K-line amplitude about 21%, clear short-term overheating signal.
From the funding perspective, a positive rate of 0.0226% means longs must continuously pay to hold positions; if the price stagnates, long costs will accumulate quickly, easily triggering long position reductions or even cascading liquidations, with spike risk concentrated near the 10.88 upper band. However, the trend structure remains intact, MA5 is still short-term support, and bears pressing against the trend here is not cost-effective; more likely is a high-level turnover before setting direction. Currently, funds still lean bullish, but the cost-effectiveness of chasing highs is decreasing.
Operationally, the preference is to buy on dips rather than chase highs: entry reference 10.30–10.55, corresponding to MA5 support and breakout retest zone; take profit 1 at 10.88 (upper Bollinger band, first touch likely resistance), take profit 2 at 11.50 (measured extension after breaking upper band); stop loss at 9.95 (breaking below MA5 and losing the 10 whole number level, weakening the bullish logic).On September 23, UNI hit $10.85, reaching a new high since "1011." It rose 18% in 24 hours, climbing from 2.31 to 10.8 in three months, an increase of over 360%.
The comment section has already split.
Some are shouting "to 20," while others quietly placed sell orders. An address withdrew 1 million UNI from Coinbase two hours ago at an average price of 10.07—not selling, but taking it away.
On the same day, whale sell pressure data surged to 71%, with buy pressure only 20%.
Big funds are accumulating, large holders are exiting, and retail investors are chasing.
This is not a contradiction. These are three types of people with three completely different strategies.
Short-term traders (1-7 days): Don’t chase. Entering now means you’re handing your position to the whales.
RSI has already surged to 84.36. The textbook says 70 is overbought; what does 84 mean? When UNI surged to $45 in 2021, the daily RSI was at a similar level.
Funding rate is -1%, long-short ratio 0.56x, long squeeze probability 25%. Translation: too many longs, too few shorts; perpetual contracts are using longs’ money to subsidize shorts. If the price consolidates for more than two days, longs will start a stampede themselves.
Strategy:
Do not enter at the current price. Those who FOMO in will likely cut losses at the first pullback 90% of the time.
Wait for a pullback to the 8.80-9.00 range (near EMA7). Look for two signals: volume contraction + a lower shadow candle. Only consider a light position if both conditions are met.
Stop loss: 8.20. If broken, exit immediately, no explanation.
Target: sell half at 10.50, set take profit for the rest at 11.80.
Short sellers shouldn’t celebrate too early either. Open interest is increasing but without new buying support; this divergence can go either way, so shorting is also a gamble before direction emerges.
Swing traders (2-6 weeks): Keep a close eye on September 29. This day will decide if UNI falls back to 8 or pushes to 15.
Robinhood Wallet has provided 90 days of Gas subsidies since mainnet launch, enabling "zero-cost" free trading to boost volume. The subsidy is expected to expire around September 29.
This is not trivial.
Uniswap accounts for 77%-98% of trading volume on Robinhood Chain, with half of protocol revenue coming from this chain. The free Gas created a false sense of prosperity.
How much will volume drop once subsidies end? No one knows.
If volume drops less than 30% → it indicates real demand, and UNI is likely to hold above 10. Enter after daily close above 10.00, target 12-14.
If volume crashes → UNI will return to the 5.8-6.5 range, which is the real value buy zone.
Key verification data: daily burn volume on Robinhood Chain from Dune. August peak single-day burn was 178,000 UNI, worth over $1.11 million, with Robinhood Chain contributing over 80%. If after September 29 this number falls below 50,000, it means the flywheel has stalled.
The essence of swing trading is not prediction but waiting for signals. Better to miss the first wave than to bet during maximum uncertainty.
Long-term holders (6 months+): You’re not buying a coin, you’re buying a money-printing machine in motion.
Let’s clarify this.
UNI had zero cash flow from 2020 to 2025. Uniswap processes trillions in volume annually; all fees go to LPs, and UNI holders get nothing. This is why it fell from 45 to 2.31.
In December 2025, the fee switch will pass, and on July 27, 2026, it will officially activate on v4. Protocol daily revenue will jump from $118,000 to $318,000, a 2.7x increase. Robinhood Chain alone contributes $168,000 daily, half of the entire network.
This money doesn’t go to Labs’ accounts. It goes to TokenJar. To take it out, UNI must be burned first.
On September 4, 184,000 UNI were burned in a single day, worth over $1.15 million—the protocol’s first million-dollar-level burn day. Robinhood Chain contributed 150,000 UNI.
This is not a buyback. Buybacks are paid by the project. This is arbitrageurs competing to burn.
Long-term logic doesn’t require daily monitoring. You only need to answer one question: can RWA (Real World Assets) trading volume take over from Meme?
If tokenized stock trading volume on Robinhood Chain continues to grow in Q4, UNI burn volume will rise, accelerating the deflationary flywheel. A $100 price target is not a fantasy. If RWA fails to take off and Meme declines, burn volume will shrink, requiring reassessment.
Dollar-cost averaging range: below 5.50, in batches. No target price, only validation points.
What everyone must know:
The September FOMC 25bp rate hike has been implemented, raising the federal funds rate to 3.75%-4%. The dot plot shows one more hike this year, with market expectations for another hike before year-end rising from 80% to 86.5%.
Macro is tightening. UNI is a high Beta asset; if BTC falls 5%, UNI falling 15% is normal.
Don’t use high leverage to bet on direction, no matter how confident you think you are.
$BTC $UNI $HOOD #AI stocks continue to rise, what other investment opportunities are there?
MET, MUBARAK, and BCH all appear on the gainers list, but their capital patterns are completely different:
MUBARAK is a short-term pulse, with strong explosive power but quickly declining volume, carrying extremely high risk;
MET and BCH steadily rise along the moving averages, with a more stable structure and more sustained capital inflow. Slow and steady wins the race, don’t rush
Just like development, temporary scripts going live are prone to bugs; only programs with stable architecture have long-term reliability.
Short-term speculative coins are only suitable for observation; certainty is always more important than windfall profits.
💬: Do you prefer to catch pulse opportunities or stick to stable trends? $NVDAB $META $BTC CME is going to launch futures for BCH and UNI
On October 19, standard contracts plus Micro contracts will be available once regulatory approval is completed
As soon as the news came out, BCH rose 31%, and UNI rose nearly 20%. The market voted with its feet
Previously, only BTC and ETH had futures; now BCH and UNI do too. What does this mean?
It means institutions are starting to treat altcoins as "legitimate assets." Previously, altcoins could only be traded spot; now with regulated futures trading tools, big money can finally come in
UNI is even more special. It just received SEC tokenized stock exemption last week, rising 21%. This week it also got CME futures; regulators and institutions are both opening doors for it. An AMM protocol first cleared by policy, then integrated by exchanges, and now even CME is launching futures for it. This is not just a coin rising, but a protocol gaining recognition from the mainstream financial system
But I have to pour cold water: BCH rose 31%, UNI nearly 20%, these are "event-driven" gains. When it really goes live on October 19, if volume and open interest don't keep up, these gains will have to be given back. Realizing the positive is not the end, but the start of the test
CME launching futures for altcoins is more important than any price breakout. Because what it changes is not the price, but the rules
Do you think CME launching futures is the springtime for altcoins, or the start of the good news being fully priced in?
#CME拟推BCH与UNI期货 $UNI $BCH $BTC On September 23, UNI reached $10.85, rising 18% in 24 hours, hitting a new high for the year.
Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, gave a target price: $100 by the end of 2030.
Starting from today's $10.8, that's nearly a 10x increase.
But don't get too excited just yet.
The $10 valuation of UNI itself is a problem.
How much it is really worth depends on what it resembles.
Benchmark A: If UNI follows the "RWA infrastructure" route
Then it is no longer a DEX token.
It is an on-chain clearing network.
On September 18, Superstate announced the promotion of tokenized stock trading on Uniswap, with the SEC's newly issued innovation exemption clearing regulatory hurdles. Uniswap confirmed cooperation, using v4's Permissioned Pools to perform on-chain compliance checks.
What does this mean? Stocks, funds, bonds—these traditional financial assets are being settled on-chain through Uniswap.
If this path succeeds, the valuation logic of UNI changes. It’s no longer about DEX fees, but about the trading volume × fee rate × growth premium of a global asset clearing network.
Standard Chartered's $100 target bets on this scenario. Kendrick explicitly said his forecast is "based on the growth of tokenized RWA."
Benchmark B: If UNI essentially remains a "DEX fee token"
Then it is closer to a platform coin—like BNB.
The valuation logic becomes: revenue × multiple.
Currently, UNI's market cap is about $3.7 billion. According to Standard Chartered's forecast, UNI will reach $6.5 by the end of 2026, with an annual burn rate of about 2.2%.
A $3.7 billion market cap corresponds to an annualized $90 million burn scale—this is already a relatively optimistic valuation.
If UNI is just a "DEX fee token," the $3.7 billion market cap reflects a fairly optimistic expectation. In other words, a $10 UNI already prices in the "infrastructure narrative" ahead of time.
Key difference: the essential distinction between UNI and platform coins
BNB burns are decided by Binance. Centralized decision-making.
UNI burns are decided by arbitrage bots. On-chain automatic execution, no human intervention.
As long as there are assets in the TokenJar, Firepit will have someone burning UNI for arbitrage.
This is a structural difference and a reasonable source of UNI's valuation premium. One relies on company discretion, the other on code enforcement.
Institutional infrastructure signal: CME to launch UNI futures
On October 19, CME plans to launch UNI futures, with standard contracts of 10,000 UNI per lot and micro contracts of 1,000 UNI per lot.
This means regulated funds finally have a compliant way to trade UNI.
Listing itself does not create demand, but it removes compliance barriers that previously made it impossible for some buyers to participate.
Previously, institutions wanting to allocate UNI could only go to offshore exchanges. Now with CME, the compliant channel is open.
So, who does UNI really resemble?
Standard Chartered's $100 is essentially based on "Benchmark A."
But if September's real data proves that UNI's revenue heavily depends on speculative trading volume of Meme coins on Robinhood Chain—then it is just a "Meme chain fee token," and its valuation needs to revert toward platform coins.
The gap between these is the risk you need to manage.
$ETH $UNI $HOOD In this hour, BTC volume continues to decline, while SOL clearly rebounds and surpasses ETH; ANTHROPIC is still stuck next to the top three coins, like a side narrative that hasn't fully exited. In this hour, the mention counts for BTC, SOL, and ETH are 50, 41, and 30 respectively; in the same window, BTC is about 42% bullish and 12% bearish, SOL about 54% bullish and 7% bearish, ETH about 37% bullish and 3% bearish. Among the side narratives, ANTHROPIC is mentioned 33 times, about 45% bullish and 15% bearish, HOOD 9 times with about 67% bullish, ZEC and META each 8 times. The previous window had 69, 32, and 22. In this window, BTC shrinks again, SOL flips from lagging to surpassing ETH; it could also just be a short-term rotation, volume ≠ transactions, and a heated tone doesn't necessarily mean funds are aligned. For now, note "BTC continues to shrink, SOL surpasses ETH, ANTHROPIC remains." Which one can hold through the next window is still uncertain; we'll compare again with the new snapshot.Is the crypto market about to soar again? Signals are resonating, but rhythm is more important than sentiment.
US Stocks: Nasdaq hits new highs, S&P nears previous peak. As long as US stocks hold high levels without deep drops, the logic of capital flowing into crypto holds.
BTC: Around 86,100, peak at 87,363. Up about 15% in 7 days, breaking above the 200-day moving average, short liquidations exceed $1 billion, ETF single-day net inflow of $998.9 million. But 4-hour volume-price divergence and 2-hour top divergence, 87,300 not firmly held, high risk chasing the peak, better to buy on dips.
ETH: Around 2,750, peak at 2,810. 2,800 resistance is obvious, Binance shorts account for nearly 50%. Open interest at 16 billion, institutional holdings at 4.9%, exchange balances decreasing. If BTC holds sideways, a catch-up rally is expected, requiring volume support.
DOGE: After hitting 0.1059, retreated to 0.0992, down 0.62%. Open interest increased 10% within an hour to 350 million, leverage-driven, spot support insufficient. 50/200-day moving averages still in death cross, holding above 0.10 could see spot take over.
Macro: China-US summit, SEC new regulations, CLARITY Act progress may provide catalysts.
Overall bias is bullish, but top divergences and volume-price risks exist. Don't chase highs, wait for dip confirmation to go long, control position size and keep ammunition. Personal opinion, not investment advice.
$BTC $ETH $DOGE
#BTC冲高$87000，加密总市值重返3万亿
#美伊3小时会谈释放积极信号？ XRP 1.5986, surged 5.5%, I only buy on a pullback to 1.49
At posting time XRP: 1.5986 (24H +5.51%)
Conclusion:
1.490–1.520 not broken, lightly buy long. Stop loss at 1.420, target 1.6094 → 1.700.
Only look at 1.7+ if 1.6094 is surpassed, otherwise it's just distribution at a high level.
Do not buy if 1.420 breaks, wait for 1.360–1.380.
Market situation
• 7-day increase over 23%, short-term gains considerable, profit-taking pressure heavy, chasing longs = giving away money
• 4H volume expanded at high level but slight pullback, high level unstable, only buy on pullbacks, do not chase highs
My actions:
• Spot: place limit buy orders at 1.490–1.520, position size within 10% of total funds
• Futures: lightly buy long 2x at 1.500, exit if breaks 1.420; reduce half at 1.6094, clear at 1.700
• Chase 2x on volume breakout at 1.6094, exit if falls back below 1.520
• Trades not done: chasing long at 1.5986, bottom fishing on break at 1.420, heavy all-in
If 1.420 breaks, accept it, no adding positions. Stop losses must be quick on high-level assets.
Follow me, key levels given in advance, no hindsight. What do you think XRP will do next? Comment below.
$XRP Brothers, recently altcoins are flying everywhere, but I’ve actually been focusing on a coin that hasn’t fully exploded yet: $XRP.
$BTC has stood above $86,000, ETH broke through $2,750, the market is getting hotter, but XRP hasn’t surged wildly yet.
At times like this, I want to pay close attention.
Whales seem to have moved in advance: in the past 96 hours, whales increased holdings by about 1.54 billion XRP, worth approximately $2.2 billion, with large holders’ positions rising from 8.27 billion to 9.81 billion XRP.
And the XRP story is evolving too. RippleX released XRPL AI Starter Kit 1.1 and integrated with Stripe and Tempo machine payment protocols, starting to extend into AI agent payments and the machine economy.
There’s also activity on the ecosystem side: Absa is adopting Ripple custody technology to deploy digital asset custody, and RLUSD circulation is about $2.39 billion.
Technically, RSI is around 63, with no obvious overbought signals for now.
So I’m planning to accumulate a bit first and watch as I go.
What really excites people is often not when the whole network is shouting, but when no one is paying attention yet and funds have already been laid out in advance.
When buying, no one cares; when selling, it’s a roar of voices.
This is just my personal observation, not a guarantee of a rise. Don’t get carried away when participating, control your position size, and keep your bullets ready.
#BTC冲高$87000，加密总市值重返3万亿 #ZEC巨鲸3.8万枚空单平仓，亏损超3500万美元 Filcoin Project Shutdown Coin Price!
$FIL 1. Pure Stock Computing Power (All sectors fully sealed, only running WindowPoSt to maintain proof, no new computing power added)
Global average shutdown coin price: 1.2 ~ 2.0 USDT, median about 1.6 USDT
- Cost composition: only includes daily electricity fees, data center hosting, bandwidth operation and maintenance, and other ongoing cash expenditures.
- Corresponding average daily output per TiB on the entire network: about 0.0046 FIL (Filfox mainnet data as of 2026.09.23).
2. New Computing Power (Building new mining farms from scratch, continuously sealing new sectors, full payback calculation)
Global average profit and loss coin price: 4.2 ~ 5.8 USDT, median about 5.0 USDT
- Cost composition: includes hardware depreciation, sealing electricity and Gas fees, staking coin capital occupation costs, and all daily operating costs.
- This is the full payback calculation and also the basis for many bloggers' "3U starting point" estimates, with fluctuations depending on different algorithms.
II. Regional Stock Shutdown Price Reference
- Low-cost hydro/thermal power regions (Central Asia, Middle East, electricity price 0.04~0.06 USD/kWh): 0.5 ~ 0.8 USDT
This is the industry's lowest cost first tier, which is the source of the previously mentioned 0.6~0.8 range, representing extremely optimized stock mining farm costs, not the global average.
- Domestic industrial electricity price in China (0.08~0.09 USD/kWh): 0.9 ~ 1.3 USDT
- High electricity price regions in Europe (0.22~0.26 USD/kWh): 2.5 ~ 3.2 USDT
III. Why do many influencers say "shutdown coin price is about 3U"?
The 3U figure you hear is the result of combining three algorithms, not the standard definition of "pure stock cash shutdown price":
1. Mixed calculation: spreading hardware depreciation, staking coin interest, and upfront sealing costs evenly into daily costs, which is the "full payback price," not pure cash shutdown price.
2. Using high electricity price samples: many bloggers calculate based on European and American electricity prices, which are much higher than the global average; the stock shutdown price in Europe itself is close to 3U.
3. Mixing stock + new: including the high power consumption of sealing new sectors in the network average, while the power consumption during sealing is several times that of pure stock PoSt, naturally resulting in a figure close to 3U.
IV. Key Influencing Variables
1. Hardware configuration: large-capacity hard drives (18T/20T+) have much lower power consumption per unit capacity than small-capacity drives, with cost differences over 30%.
2. Electricity price: the biggest variable, with electricity prices differing 3~5 times across regions, directly determining the shutdown coin price.
3. Lock-up mechanism: 75% rewards unlocked linearly over 180 days; the real cash flow shutdown price will be 20%~30% higher than the book value, but locked rewards will eventually be released, not affecting long-term profit and loss.[100x Challenge: Day 58 — Live Trading Record]
1. Capital Status
Initial Principal: 3000 yuan + 0.1 XAU (bought at 4250)
Today's Profit: 0 yuan
Total Profit: 4351 yuan
Current Assets: 9000 yuan (112%)
Profit Withdrawal: 400 yuan
2. Income Details:
Accumulated Copy Trading Income: 21U
Prediction Income: 5U
Creator Rewards: 14U
3. Current Positions and P&L
Current Positions: Gold, BTC, TRUMP
$BTC 100x Challenge has reached Day 59. Almost two months already, time flies.
$ETH Recently, the crypto market has shown signs of a small bull run again. Unfortunately, I bought BTC at 76,000 and sold at 80,000, didn’t hold on.
Before this, I wasn’t very optimistic that this wave would become a full bull market. In my view, this rally was just driven by news. The real bull market prerequisites are either a surprise, a long period of consolidation, or a slow step-by-step climb. Slow growth is the true bull.
But after BTC reached 86,000, it has been oscillating in a narrow range. This is actually a bullish consolidation; the breakout speed slowed down, which makes my previous view of the 76,000–82,000 upward oscillation more valid.
Since BTC first stood above 82,000, it has tested the market bottom at 76,000 three times. Even under the dual bearish factors of interest rate hikes and the failure of a clear bill a few days ago, it still held steady at 75,000. This is probably the last dip before the end of the year. Morning Review: Bitcoin surges to 87,000, I’m taking another look at these four small coins
At exactly 9 o'clock, the outside is already bright. Bitcoin pulled straight up to 87,000 overnight, and the total crypto market cap has climbed back above 3 trillion. I brewed a cup of tea and reviewed these four small coins again.
$HYPE around 95.42, up 2.48% for the day. Hyperliquid, a decentralized perpetual exchange, with 97% of protocol revenue used for buybacks. Bitcoin’s rise pulled it up as well; among small coins, it has the strongest support. Morning volume is average; I’m watching the 95 level closely.
$BICO around 0.0224, down 0.40%. Biconomy, focused on account abstraction. While Bitcoin hit 87,000, it’s still in the red. The sector is solid, but no funds are willing to enter, completely missing the rally. No volume in the morning; I’m watching if 0.022 can hold.
$BEAT around 0.0863, down 1.67%. Audiera, a micro-cap speculative coin, dropped 99% from its high, with a market cap of only 25 million and volatility over 100%. Even with Bitcoin at 87,000, it keeps falling—this one’s untouchable. No volume in the morning; I’m eyeing 0.086.
$RE around 0.458, down 1.71%. DeFi insurance small RWA, 71 million market cap, daily volume 5 million, the thinnest liquidity. While Bitcoin is at 87,000, it’s falling instead of rising; when it should move, it stays weak. No volume in the morning; I’m defending the 0.45 line.
Looking at these four, Bitcoin is dancing solo while small coins diverge. The strong ones have buyback support; the weak ones can’t even get a sip. No volume in the morning, so I’m observing first, not taking action The price is hugging the upper band of the Bollinger Bands in the short term with only 0.2% breathing room left. This is not an offensive posture; it's like being pinned on the sidelines, ready to be exchanged out at any moment.
The current situation for $JITOSOL is: a slight 1.97% increase in 24 hours, the short-term RSI has pushed up to 66.4—just a breath away from the overbought zone, while the long-term RSI is only 50.4. In the mid-game phase, both sides have equal forces; whoever advances recklessly will lose first. The short-term Bollinger Band price position is at 87%, with the lower band 1.4% away and the upper band 0.2% away—this is a typical "asymmetric space" scenario, no path upwards but a 1.4% breathing room downwards. The mid-term Bollinger Band is only at 51%, indicating this is just a pawn sprinting through, not a full-scale attack.
So this is not a buy signal; it’s setting up a reverse sacrificial bait to lure the opponent.
My tactical combination is: do not chase the high; wait for it to finish the last move of initiative. Entry is set at 98.38, 1.4% above the current price—letting the opponent move their piece into the square I have calculated. Target 1 is 94.55, a 2.5% retracement; Target 2 is 94.03, a 3.1% retracement. These two points are not arbitrarily drawn but are the inevitable landing spots after the short-term Bollinger Band lower band is breached.
But the real experts look at the endgame ledger: stop loss is set at 108.25, 11.6% above the current price, while the maximum take profit is only 3.1%. Using an 11.6% risk to gain 3.1% is like exchanging a rook for a pawn—this is a complete loss on the force ledger. Therefore, this strategy must be controlled by position size: light positions crossing the river, quick in and out, never lingering in battle. Heavy positions on this combination are like sending yourself into a doomed endgame.
📉 Short:
Entry: 98.38 (current price +1.4%)
Take Profit 1: 94.55 (-2.5%)
Take Profit 2: 94.03 (-3.1%)
Stop Loss: 108.25 (+11.6%)
Endgame judgment: The bulls in the short term have reached a deadlock with no moves left, while the bears only need one step. The real winner is not the one who shows strength in the mid-game but the one who has already calculated twenty moves ahead and knows how many pieces remain in whose hand before making a move. #strategyplaybook#BTC surged to $87000, total crypto market cap returns to 3 trillion #美伊3小时会谈释放积极信号？ #Earnings Watcher: Costco Q4 earnings to be announced soon
BTC has been consolidating near 86,000 for almost a day. Last night's bullish candle was strong, but there is no obvious profit-taking visible on the chart, and selling pressure is unusually light. Current quotes: BTC 86434, ETH 2773, SOL 119.
Price is sideways, but capital is not idle. BTC spot ETFs saw a net inflow of $433 million yesterday, ETH attracted $144 million; SOL ETFs accumulated about $60.7 million inflow this week, with $47.6 million contributed in a single day. Meanwhile, yesterday's rally also liquidated about $470 million worth of short positions. Capital is flowing in, shorts are retreating, but price hasn't moved — such divergence usually doesn't last long.
Tonight's outlook:
· BTC: Anchored at 87000. Stabilizing near 86000 allows light long positions; if 86000 breaks, exit and wait. After breaking 87000, focus on how the 86000–87000 range evolves.
· ETH: Relatively resilient. The 2700–2800 range is where orders are willing to wait; breaking 2600 means admitting error and exiting; after breaking 2700, look to 2800, then 2900.
Sideways movement itself is not bad. Capital is quietly warming up, shorts are quietly retreating, what the market lacks is not direction but a trigger point. $BTC $ETH $SOL #CME plans to launch BCH and UNI futures
Just saw: CME plans to launch Bitcoin Cash (BCH) and Uniswap (UNI) futures on October 19, including standard and micro contracts, pending regulatory approval.
The key point is not "two more futures," but the signal:
• BCH: A veteran payment coin, entering CME means traditional capital now has a compliant hedging channel
• UNI: DeFi governance token included in regulated derivatives framework, which is more significant than the price increase
• Contract specs: BCH 250/25 coins, UNI 10,000/1,000 coins, allowing retail investors to play Micro contracts
CME has already added ADA / LINK / XLM / AVAX / SUI this year, now adding BCH+UNI shows institutions want not only BTC/ETH but also altcoins on the compliant shelf.
Short-term, don’t rush blindly:
• Watch if BCH can break $300
• If UNI can’t hold $8, the sentiment may easily fade
• Futures launch ≠ immediate surge, but will amplify volatility
My personal judgment:
"CME listing" is becoming a valuation anchor for altcoins; those not listed on CME will be compared against it instead.SanDisk has already risen 644% this year
But Wall Street believes the AI storage rally is not over yet!
$SNDK has risen 644% this year, and many people's first reaction must be: Can it still go higher at such a level?
Rosenblatt just started covering SanDisk, immediately giving a buy rating and a $2400 price target.
The logic is not simply the "AI concept."
AI data centers are raising requirements for NAND capacity, performance, durability, and supply stability. SanDisk and Kioxia jointly developed BiCS8 and BiCS10 NAND, and have already signed multi-year supply agreements with 8 major customers.
More importantly, the price. The market expects the average NAND selling price to rise more than 20% in the third quarter.
So I have been bullish on SanDisk not because of how much it has risen, but because AI is turning storage from a cyclical product back into one of the most critical infrastructures in data centers. $SNDK
Now the stock price has surpassed $1800, and $2400 is becoming Wall Street's new target.
#闪迪纳入标普100，焦点转向AI需求 On September 23, UNI hit $10.85, rising 18% in 24 hours.
The community started celebrating: "The RWA sector leader is taking off."
But don’t get ahead of yourself.
Today, no sugarcoating—let’s get real.
Since the Fee Switch officially launched on V4 on July 27, Uniswap’s average daily protocol revenue surged from $118,000 to $318,000, an increase of about 2.7 times.
Among this, Robinhood Chain single-chain daily contribution is $168,000, accounting for more than half of the protocol’s total chain revenue.
As of September, Uniswap has burned about 112 million UNI, which is 11.2% of the maximum supply.
These numbers are real. Revenue is rising, burning is accelerating, the flywheel is spinning.
But where is this revenue coming from?
Over 99% of Robinhood Chain’s trading volume is driven by meme coin speculation.
FalconX reports that meme coins account for over 80% of decentralized exchange trading volume. After excluding settlement trades like ETH and WETH, meme coins make up nearly 86% of the remaining volume.
On August 30, Robinhood Chain’s application layer revenue was $2.66 million, of which 88% came from GMGN, Pons, and Uniswap—highly concentrated in token issuance and speculative activities.
What does this mean?
The bulk of Uniswap’s fees earned on Robinhood Chain come from meme coin players.
The Pons platform has issued over 250,000 tokens cumulatively, with about 58,000 daily active users. Memecoin.Fun raised $3.5 million to develop similar products.
The token issuance factories are producing frantically, and Uniswap is collecting tolls like crazy.
What does this have to do with the "RWA sector"?
Tokenized stocks: launched, but no one is trading them.
The total value of tokenized stock holdings on Robinhood Chain is about $150 million.
Sounds decent? Consider this:
NVIDIA tokenized stock attracted about 74,000 holders, making it the platform’s most popular asset.
$150 million ÷ 74,000 ≈ $134 per holder on average.
$134. Less than 1,000 RMB.
This is not institutional allocation; it’s retail investors playing around.
Tokenized stocks are currently only available to users in the EU and EEA; US users cannot use them.
The RWA story is sexy, but what’s really running on-chain are the underdogs.
Analogy warning: Solana’s yesterday is Robinhood Chain’s today.
In January 2025, Solana’s meme coin frenzy peaked with weekly revenue hitting $55 million.
Two months later, the meme bubble burst. Solana’s weekly revenue plummeted 93% to $4 million. TVL was halved from $12 billion to $6.4 billion. SOL dropped 58% from $293.
"Meme-driven revenue → revenue supports valuation"—this model has already played out on Solana.
The outcome? Narrative fades, revenue cliffs, price halves.
Robinhood Chain is on the same path now, just with a sexier story—"RWA."
Robinhood Chain’s 90-day gas subsidy ends on September 29.
During the subsidy, user transactions were almost free. This is one of the core reasons for the surge in trading volume.
Once the subsidy stops, transaction costs return to normal levels.
If trading volume halves then and RWA real demand doesn’t pick up—
The 32x revenue multiple won’t hold.
Uniswap charges 0.465% fees per dollar traded here, much higher than its 0.214% rate on other networks. Tokenized stocks trade in Uniswap’s highest fee category, which explains the high fees.
But the problem is: tokenized stock trading only accounts for about 4.1% currently.
96% of the flow is still meme and speculation. You use a 4% story to support 100% valuation?
UNI’s deflationary model is real. The cash flow from the fee switch is real. Robinhood Chain’s traffic is real.
But you must know what you’re buying.
When you pay for the "RWA sector leader" narrative, make sure you’re not buying a "meme chain fee token."
RWA needs institutional allocation, long-term holding, real settlement demand. Not token factories and underdog turnover.
The gas subsidy ends on September 29, the first time to verify the truth.
Look at the data then. Don’t listen to stories.
$UNI $BTC $ZEC #CME拟推BCH与UNI期货 #CME plans to launch BCH and UNI futures
CME Group officially announced plans to launch BCH and UNI futures on October 19, including standard contracts and micro contracts, pending regulatory approval. Once the news broke, BCH and UNI quickly surged in the short term, with the market interpreting this as a signal that traditional finance is further embracing alt assets.
CME's continuous expansion of its crypto derivatives product line means that institutions, besides BTC and ETH, will also have compliant channels to hedge and take exposure on BCH and UNI. This is beneficial in the long term for enhancing the market recognition and liquidity of these two tokens.
Personal view:
Short-term benefits are easily realized in advance, so this should be closely watched. The launch of futures not only facilitates institutions to go long but also provides large capital with compliant tools to short. Historically, when CME launches new products, there is often a pattern of "price rising on expectations, then pulling back after launch."
This event represents a step toward industry standardization but does not mean prices will continue to rise unilaterally. Going forward, focus on the progress of regulatory approval and changes in capital flows before and after launch. Do not rely solely on positive news to chase prices.The CLARITY Act, hearing that name again.
The last time it made the news, I actually looked it up. Back then, a bunch of people were shouting "regulatory spring is coming." And then? Nothing, it got stuck in Congress with no progress.
Now the CEO of Moon Inc comes out saying he hopes the next Congress after the midterm elections can pick it back up.
Note the wording—hopes. Not "expected," not "soon," but hopes.
He also casually mentioned that the SEC’s attitude is positive, DTC custody assets can be tokenized, and tokenized stocks are already listed on Nasdaq and NYSE.
Sounds lively. But these are things already implemented, which is a different matter from whether CLARITY will pass.
A stalled bill, can it pass just by changing Congress? Midterm elections change people, not positions.
I’m more inclined to treat it as a long-term story.
If you really ask, will the next Congress sit down and make it their first priority?
#欧洲央行上线代币化结算平台
#美国加密税收与BTC储备法案获推进 #美联储官员密集发声，加息还要持续多久？ $ZEC $BTC In the past 24 hours, BTC has slightly closed higher, with the price steadily operating around the 86000 level. The cumulative increase over the past four days exceeds 13%, successfully returning to the high range seen at the beginning of the year. Technically, it has firmly stood above the 365-day moving average, which the market interprets as a confirmation signal of a bull market cycle, fully opening the mid-term bullish trend.
However, the biggest feature of today's market: bullish momentum is slowing, volumeless rallies, and high-level divergences appearing.
The previous one-sided short squeeze rally has ended, funds no longer blindly pushing prices up, and profit-taking at high levels is obvious. The market has shifted from a "one-sided rise" to a trend continuation consolidation mode.
Unlike the pure bearish crush of previous days, the past 24 hours have shown a dual liquidation pattern of longs and shorts across the network. High-level chasing bulls and low-level stubborn shorts are both being cut, indicating overheated market leverage sentiment and a strong short-term need for shakeout.
Intraday strong resistance: 87000–87300
Today's two rallies both faced pressure and fell back, marking the strongest short-term bottleneck. A volume breakout is necessary to open the upward space of 89000–90000; volumeless probes are all bull traps.
Intraday consolidation center: 85800–86200
Today's core support range, also the current balance point of long-short contention. The price continues to operate above this range, representing that the bullish strong structure remains intact.
Short-term strong support: 84200–84500
This round broke through the neckline support, also the lifeline of the bullish trend. As long as it does not effectively break down, all pullbacks are healthy shakeouts. #BTC冲高$87000，加密总市值重返3万亿 Reward contract bugs, forward hard forks, ghost sell pressure—CORE incident as a final warning for BTCFi
⚠️This article is based solely on publicly available on-chain information and does not constitute any investment advice
The CORE incident on 8.31 is not just a security accident of a single public chain, but a final warning to the entire BTCFi sector. Many have been brainwashed by the grand narrative of "Bitcoin hash power endorsement," mistakenly believing that binding BTC hash power equates to comprehensive security. However, CORE’s triple blow: reward contract vulnerabilities, forward hard fork compromises, and permanently lingering ghost tokens, has exposed the inherent contradictions at the foundation of BTCFi.
1. Reward contract bug: hash power only manages the ledger, it cannot control token issuance logic
The root cause of the incident was not the underlying hash power being compromised, but a logical flaw in the node reward distribution contract. Malicious validator nodes could repeatedly claim block rewards, mining tokens that were originally meant to be released slowly over decades in a short time.
Bitcoin hash power only guarantees that once transactions are on-chain, the ledger is immutable and double-spending is prevented. But how many tokens are issued and when is governed by upper-layer business code; hash power does not perform logical verification. Even with top-tier Bitcoin hash power, a single contract bug can directly break through a carefully designed token release model.
This is a common blind spot in BTCFi projects: they aggressively promote BTC hash power consensus but downplay the audit risks of upper-layer smart contracts and reward mechanisms.
2. Forward hard fork: under a dilemma, only a "stop the bleeding but not cure the root" fix is possible
After the crisis broke out, the project team chose a forward hard fork to patch the reward code and close the loophole of repeated reward claims, allowing the network to continue producing blocks and technically stop the bleeding.
But this was a compromise: no rollback of historical blocks and no destruction of the already circulated 69 million excess tokens.
If they had chosen rollback and destruction, although ghost tokens could be cleared, it would mean the project team had the power to rewrite the on-chain ledger, directly destroying the "immutability" decentralized foundation and potentially causing chain splits; meanwhile, tokens had circulated multiple times, making it impossible to distinguish hacker loot from innocent secondary market buyers, and a blanket destruction would cause huge disputes.
Ultimately, the project preserved the decentralization narrative at the cost of passing the economic loss caused by the bug onto all token holders.
3. Ghost sell pressure: lingering tokens become the root cause of permanent valuation discounts
After the hard fork, 69 million low-cost ghost tokens remain in the circulating market with no lock-up constraints and can be sold on exchanges at any time.
Institutional investors evaluate assets based on predictable, stable token release curves. The timing and scale of these tokens’ sell-offs are completely unpredictable, making the risk unquantifiable and leading institutional risk control to outright reject.
Thus, CORE falls into a unique predicament: the ecosystem has 125 DApps, EVM compatibility, and a large retail base, enabling short-term pulse rallies when sector sentiment arrives; but lacking long-term institutional support, every rally provides a window for ghost tokens to cash out. The market surges quickly but can crash just as fast.
4. Final warning to the BTCFi sector
1. Hash power narrative does not equal a security guarantee. When evaluating BTCFi projects, contract audits, reward logic, token economic models, and token cleanliness must not be deprioritized compared to hash power promotion. Underlying consensus security and upper-layer token issuance security are two completely independent matters.
2. Decentralization is not without cost. Once business code errors occur, under the immutability principle, the economic consequences of bugs must be borne by the entire community. There is no perfect crisis solution; all choices come with huge costs.
3. Ecosystem data can be inflated and should not be judged by surface metrics alone. DApp counts, TVL, and on-chain addresses are often mining incentive-driven superficial data; the ecosystem lacks native revenue and has no fundamental support against large sell pressure.
Marx said one step of practical action is better than a dozen programs. Project announcements can only soothe emotions; there is no substantive resolution for ghost tokens. For BTCFi investors, the biggest reminder from the CORE incident is: do not blindly trust the hash power halo; code and token economics are the true lifelines of a public chain.
Strategic insights
CORE is only suitable for very small position short-term speculative trading on sector pulse rallies, with strict stop-profit and stop-loss settings; long-term heavy positions are strictly prohibited. Monitor large ghost token transfers, BTC staking volume, and BTCFi sector trading volume closely; once large token transfers occur, prioritize reducing positions to avoid risk.
Summary: Reward contract bugs expose upper-layer code risks; forward hard forks can only stop the bleeding but cannot eliminate ghost sell pressure. The CORE incident proves that the greatest risk in the BTCFi sector has never been hash power attacks, but contract vulnerabilities and token economic collapse hidden by narratives.
End-of-article interactive question: For future BTCFi new public chains, how should reward mechanisms be designed to avoid repeating the tragedy of CORE’s ghost tokens?The Nasdaq has hit a new high, has risk appetite come back again?
The Nasdaq reached a historic high, with AI and chips continuing to lead the way, and $AMD even breaking into the trillion-dollar market cap club. Oil prices have fallen, but the 10-year US Treasury yield remains high. This round of gains is clearly not just because "money is cheap"; the market is still competing for the AI growth story.
With US tech stocks so hot, Crypto is also starting to move. BTC has climbed back above $86,000, the US spot BTC ETF saw nearly $1 billion in net inflows in a single day, and the ETH ETF also had about $270 million inflows.
Here’s the issue: US stocks have already announced new highs, but BTC is still catching its breath halfway.
This shows that risk appetite has indeed returned, but the first stop for funds is still assets with earnings support like AI and chips. Crypto now looks more like it’s following with a catch-up rally.
If we really want to stay bullish going forward, we need to see if this wave of funds can spread from US tech stocks to BTC, and then further to ETH and altcoins. Only when funds start looking outward for returns will there truly be a chance."UNI's $10 'Gold Content' Test: $9.24 Million Fees Collected in One Day, Is This Valuation Expensive or Not?"
UNI touched $10.85 today.
Three months ago, this coin was still stuck at $2.31.
It has nearly quadrupled.
But I don't want to talk about candlesticks. I want to do some math with you.
First, look at a set of numbers.
Robinhood Chain's single-day trading volume is $1.95 billion.
Of that, $1.75 billion went through Uniswap pools.
Uniswap on Robinhood Chain collected $9.24 million in fees in 24 hours.
$9.24 million. In one day.
Convert this amount into valuation.
$9.24 million × 365 days = approximately $3.37 billion annualized fees.
But this is the total fees paid by users; the Uniswap protocol only takes a small portion.
After the fee switch was activated in July, the protocol's daily income soared from $118,000 to $318,000.
Annualized at this rate, Uniswap earns about $116 million in protocol revenue per year.
What about UNI's current market cap?
About $5.9 billion.
$5.9 billion ÷ $116 million = about 51 times annualized revenue multiple.
Is 51 times expensive?
Compare it to Visa.
Visa, the global payment monopoly, takes a cut from every card swipe, with a P/E ratio around 31 and a price-to-sales ratio around 14.
A company that has dominated global payments for decades is valued at 31 times earnings.
Uniswap, a decentralized exchange, is valued at 51 times revenue multiple.
Is it expensive? It depends on your perspective.
If you think Uniswap is just "another trading platform," then 51 times is indeed pricey.
But if you understand it as "the settlement layer for all on-chain asset trading" —
Visa handles fiat payments, Uniswap handles tokenized stocks, RWA, stablecoin swaps, and cross-chain asset flows.
The growth trajectories are on completely different scales.
Visa's 14.7% annual growth is considered excellent. Uniswap's revenue tripled in three months.
The only real question worth tracking: can this $116 million be sustained?
On September 29, Robinhood Chain's 90-day gas fee subsidy expires.
Currently, users trade at zero cost.
Once the subsidy ends, trading costs will shift from "free" to "real money."
This is the first real stress test for Uniswap's protocol revenue.
If trading volume halves, fee income halves, burn rate slows, and the flywheel slows down —
the 51 times valuation instantly becomes "ridiculously expensive."
But if trading volume withstands the subsidy withdrawal, it means users aren't here for "free," but for "assets" —
then this flywheel is real.
To be blunt:
UNI rose from $2.31 to $10.85, with 80% of the increase happening after the fee switch was implemented on July 27.
The market isn't speculating on "governance expectations."
The market is pricing "real revenue."
For five years, UNI was criticized as "zero cash flow" and "the most useless governance token."
Now it burns tens of thousands of dollars of UNI daily, using real protocol revenue.
This is not narrative; this is accounting.
So, is 51 times expensive or not?
It depends on whether you believe one thing —
Three years from now, global stocks, bonds, real estate, and private equity will all be traded on-chain as tokens, and the trading layer will be Uniswap.
If you believe it, 51 times is not expensive.
If you don't, 51 times is a bubble.
$BTC $ETH $UNI #CME拟推BCH与UNI期货 The current market is a mix of bulls and bears, with institutional buying still fierce, but an undercurrent of old holders cashing out is also stirring. A key battle over $BTC pricing power is unfolding.
📊 Bull camp: Institutions and ecosystem flourishing comprehensively
▶ ETF frenzy: US spot BTC ETFs saw a single-day net inflow of as much as $999 million, with BlackRock's IBIT contributing over $380 million. Strong inflows in Q3 directly offset 92% of outflows from the first half of the year, showing clear institutional accumulation intent.
▶ Treasury strategy ramp-up: Strategy bought another 950 BTC, pushing total holdings to 846,000 BTC, becoming a steadfast spot lock-up party.
▶ Financial integration: Coinbase launched a 5.1% fixed-rate USDC loan, Moscow Exchange also introduced perpetual contracts, post-quantum security is advancing, and traditional finance is accelerating integration with on-chain ecosystems.
⚠️ Bear resistance: Old holders cashing out and hash rate decline
But potential challenges cannot be ignored. Glassnode shows weekly ETF net outflows of about $300 million; short-term holders sold 47,600 BTC near 88,000 for profit; a 14-year-old wallet liquidated 4,427 BTC (about $342 million); real hash rate has dropped 18.3% from its peak.
(Source: OKX Planet 09/23 09:13)
#BTC冲高$87000，加密总市值重返3万亿 #Strategy再度增持，财库同步加仓 #财报观察员：好市多Q4财报即将公布