币毒

What happened last night, and why did copycats collectively get involved again? If the market keeps going like this, copycat coins will definitely be wiped out completely. In the future, Binance will also definitely drop even more, because many coins are basically just shells left. With spot + derivatives market cap below $10 million, there’s no real need for them anymore.

🗓️ September 10｜Crypto Daily Brief

The market is weak today: BTC is hovering around $78,000, but funding is clearly shrinking. Altcoins are feeling it more than “big pie” (BTC)—don’t treat the rebound as a reversal just yet.

📊 Approx. 09:00 market update (Beijing time)
BTC: $78,139, 24h -0.80%
ETH: $2,464.67, 24h -1.25%
SOL: $101.01, 24h -2.65%

Total market cap across the board is about $2.68 trillion, down 3.76% over the past 24 hours. Total trading volume is about $9.53 billion, up 4.32% from the previous day. BTC dominance is 58.58%, suggesting risk appetite is fading—money is continuing to flow toward larger-cap assets and cash-side positions.

What’s truly worth watching today:

1）ETF flows weaken. Farside’s latest publicly available trading day data (Sept 9) shows US spot BTC ETFs had net outflows of about $100.7 million; spot ETH ETFs had a small net inflow of about $2.10 million. Note: this is Sept 9 data, not today. BTC saw net inflows of about $987 million in the previous week, but it’s already cooling down on a day-by-day basis—near-term optimism shouldn’t be based on weekly numbers alone.

2）Liquid Network security incident is still the biggest “bomb” this week. About 4,000 BTC were taken out abnormally, worth roughly $340 million. Public information indicates about 3,400 BTC have been returned, and about 600 BTC have not yet come back. Network operations remain paused while waiting for further repairs. “White-hat” doesn’t mean risk is gone—this incident once again shows cross-chain, sidechain, and custody layers are the most prone to blowups.

3）US regulatory direction is becoming clearer, though still evolving. The SEC has proposed “Regulation Crypto Assets,” planning to provide clearer issuance exemptions and conditional safe harbors for certain crypto investment contracts. The direction is somewhat positive, but it’s still in proposal and comment-collection stages—don’t assume it’s effective just yet.

4）Institutional capital hasn’t fully exited. For the week ending Sept 4, US spot BTC ETFs recorded net inflows of about $987 million, marking the third consecutive week of inflows. During the same period, ETH ETFs had net inflows of about $218 million. Mid-term buying is still there, but the latest daily outflows suggest investors are more cautious ahead of macro data.

Next, keep an eye on three things:
• Tonight 20:30 (Beijing time): US August PPI;
• Tomorrow night 20:30: US August CPI;
• Sept 15–16: US Federal Reserve FOMC meeting; results released at around 17:00 Beijing time on the 17th.

My view: It’s not that the trend is completely broken—it’s more about主动 de-risking ahead of macro data. As long as BTC can’t hold steady above $78,000, ETH and SOL will likely amplify volatility. To turn truly bullish, watch for BTC to reclaim $80,000 and for ETF daily inflows to resume.

Trading strategy: Use low leverage and light positioning, don’t chase rallies aggressively. Wait for inflation data to land. If price breaks key levels, reduce exposure first; once volume confirms and price reclaims $80,000, consider taking on more risk.

⚠️ Risk warning: The above is for market observation only and does not constitute investment advice. In highly volatile markets, watch leverage, position sizing, and stop-losses.

Biden’s son coin opens and crashes 99%

A bit regrettable, because I have several friends outside the industry who are already on their way to add funds.

Although people in the圈 all know how to cut, those outside the圈 don’t think that way. There are cases involving Trump coins—everyone rushes in based on theory first.

Unfortunately, this coin didn’t even do the cut when it came up—it just yanked it right out by the roots.

“My lawyer will get in touch with you”—did you still buy Biden coins?

You’ve got to make it quick—if you move too slowly, you’ll just have to wait for the next batch.
Also, tomorrow will be the 10th. You people call the teacher every day, one bite at a time; if you drag it into tomorrow, you’ll be the ones who have to prepare gifts for the teacher.

It’s been a long time since I sent merch to the brothers—let’s do it!

I’m starting to collect addresses to mail out the merch. Brothers, DM me.

Use the Binance App to scan the QR code and add to enable permanent commission rebates.

🗓️ Sep 9｜Crypto Daily Report

One-line read on today’s market: BTC, ETH, and SOL all bounced back together, but the total market cap is still shrinking. Blue-chip coins are holding up better than smaller alts, and there’s no full-scale push of fresh capital.

As of 14:46 Beijing time:
BTC: $79,160, 24h +0.93%
ETH: $2,499.73, 24h +1.35%
SOL: $104.55, 24h +1.86%

Total market cap is about $2.72T, down 0.94% over 24h; 24h trading volume is about $89.8B, roughly 20% higher than the previous day. BTC dominance is 58.43%, indicating capital continues to cluster around large-cap assets. The three major coins are up, yet total market cap is down—this structure isn’t a true broad-based “bull market across the board,” and smaller altcoins will likely feel even colder.

Here are the few things worth watching today:

1) ETF flows are still the toughest support. According to the Farside data, the latest full trading day that can be reliably confirmed is Sep 4. U.S. spot BTC ETFs saw a net inflow of $174.6M on that day; total net inflows over the week up to then were about $987M, with 4 of the 5 trading days positive. Note: this is Sep 4 data, not today.

2) The U.S. SEC is advancing specialized issuance rules for crypto assets, proposing clearer registration exemptions and safe harbors for certain crypto investment contracts. The direction is positive for compliant fundraising, but it’s still at the proposal stage—don’t treat it as a “live” policy trade yet.

3) Hashdex Nasdaq CME Crypto Index ETF completed its quarterly rebalancing. Effective Sep 1, it added HYPE to the basket; the currently disclosed weight is about 3.36%. This suggests institutional products are expanding from BTC/ETH into higher-liquidity on-chain assets—but adding a component doesn’t automatically mean a blanket bullish bet.

4) The U.S. Department of Justice disclosed that a new Singapore-based ringleader pleaded guilty in a crypto social-engineering scheme and money-laundering case involving over $245M. When the market warms up, phishing, fake customer service, and address replacement scams often heat up together. For large transfers, test with a small amount first and then re-verify the address twice.

Next, keep an eye on three dates:

• Sep 10: U.S. Aug PPI and initial jobless claims, plus the European Central Bank’s interest rate decision.
• Sep 11: U.S. Aug CPI—this is the data most likely to amplify volatility this week.
• Sep 16: Circle plans to launch Arc on the public mainnet. Focus on progress related to institutional validators, stablecoin settlement, and RWA.

My take: It’s a good sign that BTC is back around the $79,000 area, but total market cap is falling and BTC dominance is too high—this looks more like “large-cap coin repair” rather than the altcoin season. Before macro data lands, chasing the rally usually isn’t great on risk/reward; if inflation comes in above expectations, risk assets can easily get hit first and then look for direction.

Trading strategy: Don’t chase green candles. If BTC pulls back to key support, accumulate in batches. Keep alt positions light, and reduce leverage on all futures contracts.

Risk warning: The above is for market observation only and does not constitute investment advice. Crypto assets are extremely volatile—please control position size and set stop-losses.

$ETH At the moment, it’s still a structural issue, not a directional one.

On the four-hour timeframe, it has been pulling back and forth within the 2370–2530 range. First look above at the 2566 resistance. The middle axis below is 2450. Further down, strong support is at 2355.

The hardest part right now is that when it rises to resistance it falls, and when it drops to support it bounces. It gives back as much as it rises, and rebounds as much as it drops—this is a classic choppy, oscillating market.

In this kind of行情, the biggest taboo is greed: when you’re up you want a bit more, and when you’re down you want to hold on a bit longer. In the end, you’re very likely to get repeatedly swept.

So the logic is actually simple: as long as the range hasn’t broken, don’t chase orders. Either take short positions near the resistance and long positions near the support, closing profits when you have them; or wait for a real confirmed break and then trade in the direction of the breakout.

The market’s choices are always right—trading crypto is, and stock trading is too.

Ask yourself: when was the last time you opened a securities app that wasn’t any good? You’ll know.

bStocks didn’t break through a cumulative trading volume of $30 billion within 3 months by accident—and behind that isn’t just a better product or trading habits.

Back when I traded US stocks, I’d read a bunch of news, figured everything out, and understood it clearly. But before the market even opened, then—weekend. You’d just be left staring at the screen. After bStocks removed that limitation,

24/7 trading came to the table. A lot of people outside the crypto circle even came to register for Binance to trade US stocks. And for people inside the circle, it was like fish in water—effortless, with trading habits completely consistent.

Another point: TradFi perpetuals.
bStocks solved the problem of stock trading being available only during market hours, and TradFi perpetuals solved the issue of going long and short. And not long ago, we also added US stock options.

In the past, you might have needed to spread these things across several apps—but now, one Binance is enough.

So when we look back at it, is $30 billion really that much? I think it’s only just getting started.

“Why rush around? Binance has everything—our Security Division included” 💁‍♀️💁‍♀️💁‍♀️ @Yi He

I just bought a table and a series of shelving/equipment online. In a few days, once I set up my own exclusive WiFi, I can start streaming. I didn’t expect that overseas online shopping could also offer next-day delivery. And most importantly, it’s cash on delivery. Hahaha—this way, I don’t have to worry about not understanding Thai and therefore not receiving the package.

Isn’t this also a disaster waiting to happen?!

During the Lighter KOL round, we talked during a date for a bit. At the time, I thought that guy was exaggerating—his vision seemed too big—so I ended up giving up on investing. But later, after the TGE, I still bought a little something for self-defense.

Turns out that guy wasn’t exaggerating. Damn it.

Originally, I could’ve become the man who took down the Perp Dex arena—$ASTER $LIT KOL round’s two heroes—ahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh!!!

I thought about it, and decided to give up on this plan, because 1u is also money.

But the teaching channel will still be opened, because there are many brothers who genuinely want to learn and pick up some knowledge, including recent gossip, playstyles, and a whole series of things.

The crypto market is still in an information-gap era. If you know certain things, you might be able to make money or avoid pitfalls. If you don’t, you might end up losing capital that you shouldn’t have lost.

But offering no barriers also means it won’t be珍惜 (cherished/valued). Besides, I truly want to filter out people who don’t have a long-term mindset, because in the crypto world, contracts have already accelerated our lives.

So, to enter the group, the requirement is to bind my referral link—whether you’re a newly registered user or an existing one. I’ve been a trader and KOL for 10 years, and I can still bring you many stories from the past as well as a lot of playstyles in the current market.

Invitation code: chaobi

After you’re done, contact your Binance friend: u44444 to join the teaching channel

At the moment, the forecast platform’s probability for the Federal Reserve to raise rates by 25 basis points on September 15 is 53%, with a 47% probability of no change. This can set the tone for trading over the coming week—don’t take a big gamble; if you get a chance, take it and run.

The core large-position trades should only be considered for a gamble unless a big opportunity is presented; otherwise, it’s definitely best to wait until after the decision is released before acting. With no new developments entering the market to bring in new players and fresh capital, it remains a contest among in-market participants. Preserving capital right now is still the best option for future profitability.

Recording has always been public; I didn’t see it... I guess just pay a bit more attention, Haiyan.

I’m thinking of starting a teaching group. Every day, if you have anything you don’t understand and no one else can answer, just ask me. When I see it, I’ll explain what those things are for and what the underlying logic is. There’s a symbolic fee of 1u. Will people criticize me for this? If they do, then I won’t do it. I’m kind of timid—I’m scared.

Seeing a whole crowd at the square shorting US stocks $BNC...

I don’t know how to describe it. Most of them don’t even know what BNC is for.
They definitely can’t know what Fourmeme did today. Of course, someone might say they saw $FORM go up and want to short it too...

It’s a bit heartbreaking. Brothers, keep your head down and learn more—otherwise you’ll always be on the road to break even.

I'm getting ready to pick up the bike. A Kawasaki. I’m not relying on my parents or my family—I’m relying on my college student status and a stainless-steel bowl from home.

@颜驰Bit , I forgot to mention—besides washing the car and getting me gas, give me another 200. I’m a college student.

Say a bit more—actually, it’s not just me. Many people at the platform think the same way.

It’s just that, most of the time, for one reason or another, they can’t admit it from their positions. We need to learn to accept that, because after all, everyone is an adult.

For example: FourMeme. Why does it always seem to be trying hard to chase market hot spots, yet it never manages to deliver any impressive results? Because deep down, they don’t even believe that memes are sustainable.

That’s the situation: knowing the market isn’t sustainable, yet having to bow to it anyway.

But maybe the direction was wrong from the start. The platform shouldn’t go down into the market; it should focus on building product services. But for some reason, it seems their inertia is to do market-making rather than product. That’s why every round, a new product comes along and overpowers it—from GMGN, to DEXX, to FOMO—anyway, all kinds of dog-whatever tools. And yet FourMeme has never managed to take center stage.

What’s funny is that these tools all have their own Kondratiev cycles, but it’s worth noting that the OKX DEX—which stands firm through every cycle—only knows how to keep its head down and build products.

Deep down, FourMeme still wants to turn meme culture into a long-term business. But the mechanism is what makes meme development unsustainable by nature. Its positioning is also vague, which makes it feel a little conflicted.

I rarely play memes. Be it personality flaws, or trading risk control—whatever it is, I’ve always found it hard to truly fit in.

But there’s no denying it: after perpetual contracts, memes might be the easiest thing to quickly trigger a dopamine rush in people. In plain terms, it makes you feel like: next hand, maybe you’ll get rich.

But that’s also the problem.

Memes are inherently hard to sustain. That means from the very beginning, what you’re doing isn’t something that’s “long-term correct.” You know it may have its chances, and you know there are people who’ve made a lot of money from it, but you still find it difficult to convince yourself to stay in something that likely isn’t sustainable for the long run.

This feeling is actually pretty contradictory—and it’s also quite frustrating.

Maybe, maybe it’s because I’m getting older.

Every time I say it feels like a big opportunity is coming, a bunch of brothers ask whether to go long or short.

Honestly, no wonder the brothers keep stopping losses and losing money—why bother predicting in advance?

Isn’t it better to go with the trend? If it breaks below, go short; if it holds and stabilizes, go long. Do right-side trading and sleep easy.

Don’t try to predict the market in advance. If you get it wrong, it’ll feel really awful. Just make money by following the trend. And don’t envy anyone for getting in at such a great spot—remember, the return rate doesn’t represent the actual profit. Besides, how many hits did they take before they finally got to that position? These people have actually been on the road to break even the whole time.

Just steadily take a bit in the middle, grab some money to spend and improve our lives—that’s really the original purpose of trading crypto.

Brothers, don’t go too far—don’t forget your初心.