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Zcash gained 17% as crypto-market liquidations totaled $345 million. Short sellers took most of the damage, while Zcash accounted for $56 million of forced closures, CoinDesk reported.
The Fed has kept its reserve-plumbing authority, but its current schedule shows no net reserve-management purchases, according to CryptoSlate. The update offers no confirmed signal or forecast for Bitcoin’s next rally.
A US House committee advanced a Bitcoin reserve bill in a party-line vote after adopting substitute text that removes Federal Reserve funding routes and narrows transparency requirements, Decrypt reported.
Bitcoin recovered above $76,000 after reaching $75,064.82 on Sept. 16, outperforming major US equity indexes as Treasury yields rose. CryptoSlate nevertheless highlighted four demand signals that may indicate weakening underlying buying interest.
Corporate Bitcoin treasuries bought about 5.9K BTC over three months, but holdings remained at an unrealized loss after Bitcoin fell below $80,000. Fresh capital inflows also dwindled, slowing further accumulation.
Bitcoin’s drawdown resembles its position before the Federal Reserve’s first rate hike in March 2022. CoinDesk says the parallel raises the possibility of a relief rally before further losses as the Fed resumes increases.
Chainflip plans to reset TRON-based USDT provider balances to zero after a $736,000 exploit. Providers retain separate on-chain records of amounts owed, but the protocol has not announced a repayment timeline.
Record U.S. diesel prices could add to consumer inflation and reinforce expectations of further Federal Reserve rate hikes as the central bank responds to an oil supply shock. Bitcoin and gold are struggling.
The Celsius estate is suing BitMEX over the alleged wrongful liquidation and seizure of 6,360 BTC, worth nearly $490 million, during the March 2020 market crash. The lawsuit comes ahead of BitMEX’s exchange closure.
Avalanche’s Sept. 22 upgrade will reduce validator lockups to 48 hours and add auto-renewal. CryptoSlate reports that the shorter commitment period will also make securing rewards for a full cycle more difficult.
Goldman expects the Federal Reserve to raise interest rates by 25 basis points in October, citing the central bank’s hawkish near-term rate projections, CoinDesk reports.
