News
The day at a glance · 4 min read
Mood · Risk-On
+75
Sentiment, −100 to +100
Bitcoin Price
$85,000
Short Liquidations
$648M
ETH Target
$3,000
Key driverBitcoin cleared $85,000 for the first time since January as the CFTC submitted crypto market framework rules using existing authority, while falling oil prices supported risk assets
Daily briefCrypto & Web3· Money365.Market AI ·

Bitcoin Breaks $85K as CFTC Signals Regulatory Relief

BTC hits eight-month high on short squeeze and cooling oil prices; ETH breaks month-long range on CFTC framework submission

Bitcoin & Ethereum

Bullish
BTCETH
Bitcoin hit $85,000 for the first time since January as markets focused on cooling oil prices, according to Cointelegraph. The move forced out $648 million of bearish bets in a short squeeze, CoinDesk reported. Bitcoin cleared its 50-week moving average, a level that has historically marked the end of bear markets, though Cointelegraph noted that one weekly close is not enough to confirm a new bull run.
Ethereum (ether, layer-1 smart contract platform token) broke out of a month-long range following the CFTC crypto rulemaking submission, opening the door for a rally toward the $3,000 level. The CFTC signaled it intends to move forward with a crypto market framework using its existing authority rather than waiting for Congress, after the CLARITY Act failed to advance in the Senate earlier in the week.

Crypto Stocks

Bullish

COIN Session Gain

12%+12%

COIN Analyst Target

$202+4%

BTC Level Cleared

$80,000
COINMSTRMARARIOT
Coinbase Global (COIN, common stock) stock jumped 12% on Friday, September 18, making it the S&P 500's top percentage gainer that session as bitcoin cleared $80,000 for the first time in weeks. The Street carries 18 buy ratings, 3 outperform, 11 hold, one underperform and one sell on Coinbase stock, with a $202 mean target sitting 4% above Friday's close.
MicroStrategy (MSTR, common stock) and bitcoin mining stocks rallied in tandem with the broader bitcoin breakout. U.S. manufacturing output slipped 0.3% in August and industrial production stalled, according to Yahoo, though this did not dampen crypto-related equity momentum.

Regulation & Policy

Neutral

X Alleged Losses

$378,000

X Payout Fraud

$278K
The CFTC submitted crypto market framework filings for regulatory review on Thursday after the CLARITY Act failed to advance in the Senate, according to Forexlive. The CFTC effectively signaled it intends to move forward with a crypto market framework using its existing authority rather than waiting for Congress, providing regulatory relief that catalyzed Friday's rally across major cryptocurrencies.
X sued six operators of Bitcoin-focused accounts, alleging they coordinated posts and engagement to inflate creator payouts. X claims the fraud resulted in losses of at least $378,000, with alleged and projected damages of $278K specifically tied to the payout scheme.

Altcoins & DeFi

Bullish

SOL Tokenized Holders

850,000

NEAR Week Gain

80%+80%

NEAR Intents Volume

$29.3B
SOLNEARZETA
Solana (SOL, layer-1 blockchain token) gained approximately 10–13% around Friday's rally, driven by the broader regulatory relief from the SEC's tokenization framework and CFTC rulemaking. Tokenized-equity participation on Solana reached a record 850,000 unique holders, while Solana spot ETFs recorded another week of inflows, extending a 12-week streak. The Alpenglow consensus upgrade, designed to significantly improve Solana's finality and network performance, is scheduled for activation around September 28.
NEAR Protocol (NEAR, layer-1 blockchain token) jumped nearly 80% over the past week as NEAR Intents recorded $29.3 billion in cumulative volume, including swaps involving Zcash. Near expanded privacy features for traders as the protocol's trading volume approached $30B.
ZetaChain (ZETA, cross-chain smart contract platform token) holders approved a plan to wind down its Cosmos-based layer-1 blockchain and migrate ZETA to Solana, joining other crypto projects moving away from standalone chains.

Institutional & Infrastructure

Neutral

Hana Bank Bond

$100M
Hana Bank issued South Korea's first digital bond using Euroclear's blockchain, tapping the infrastructure for a $100M issuance. The five-year digital bond shortened settlement from three to five business days to the same day using Euroclear's blockchain infrastructure.
The Bank of Korea launched a 24-hour won settlement pilot for foreign investors, with the new network designed to let foreign investors settle won transactions during business hours in their home countries.

Looking Ahead

Neutral
The market's focus is now on the UN General Assembly, where Trump called a meeting with Gulf leaders on the sidelines to discuss the next steps in the war with Iran. The Iranian delegation was also allowed to participate in the Assembly, creating the possibility of a meeting between Trump and Iranian President Pezeshkian. De-escalation would send oil prices lower, further easing inflation and rate hike concerns and ultimately supporting risk sentiment and cryptocurrencies.
Flash US PMIs are scheduled for Wednesday, and a Trump-Xi meeting is set for Thursday. Economic data will be important given the current market's pricing; if US data starts surprising to the downside, expectations for aggressive rate hikes will likely be reduced, providing an additional boost to crypto assets.

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