🗓️ Sep 22｜Crypto Daily
In one night, the market snapped from panic to euphoria: BTC is back above 85,000. But this move feels more like short covering that lit a fuse—don’t automatically treat the surge as a brand-new major uptrend.
📊 Market snapshot (09:00 Beijing Time)
BTC: $85,877, 24H +5.26%
ETH: $2,755, 24H +2.45%
SOL: $118.13, 24H +5.24%
The total market cap across the board is about $2.92 trillion, up 2.06% over 24H; 24H trading volume is about $157.6 billion, roughly 91% larger than the previous day. BTC dominance is 58.79%. Fear & Greed Index is 78, which is at “Extreme Greed.”
🔥 What truly matters today
1）This rally was mainly driven by a squeeze. In the past 24 hours, total liquidations across the market were about $750 million, with shorts accounting for about $648 million. Meanwhile, open interest is still rising. This suggests that after the old shorts were knocked out, new leverage is chasing too—the trend looks strong, but it’s not very “clean.”
2）ETF flows have improved, but don’t use outdated figures to claim today’s results. The latest fully completed publicly available trading day is Sep 18: spot crypto ETFs combined saw net inflows of about $509 million, including FBTC about $293 million, ETHA about $106 million, and IBIT about $102 million. As of Sep 21, data has not been fully settled, so no conclusion yet.
3）US regulation shows a split: “Congress stuck, SEC goes first.” The Senate failed to advance a bill on crypto market structure last week; however, the SEC subsequently issued a conditional, five-year exemption pathway for tokenized on-chain trading of US stocks. Legislative uncertainty remains, yet the direction of tokenizing and putting assets on-chain is getting clearer.
4）Security alerts are sounding again. Related infrastructure for Fetch.ai, NuNet, and SingularityNET encountered key/cross-chain bridge permission issues between Sep 19 and 20. For a time, the attacker addresses held about $16.77 million in related assets, including a large amount of tokens minted without authorization—tokens that may not all be liquidated. Recently, don’t click private-message links that offer “compensation” or “restoring assets.”
⏰ What to watch next
Starting 22:05 tonight, multiple Fed officials will speak in a concentrated burst—focus on the interest-rate path and their wording on inflation.
Sep 23 at 21:45: the initial S&P Global US manufacturing and services PMI for September.
Sep 24 at 20:30: initial jobless claims in the US; later the same evening there will also be new home sales.
My view: the rebound is real, and the squeeze is real—but with the Fear & Greed at extreme greed (78) and open interest rebounding, the cost-effectiveness of chasing higher prices right now has clearly dropped. For BTC, first look at the pressure zone around 88,000–90,000; 85,000 is the near-term strength/weakness line. For ETH, as long as it hasn’t firmly reclaimed $2,800, it’s still best to follow the upswing for now. SOL has the strongest elasticity and is also the most likely to give back when sentiment cools.
Trading strategy: if you already have a position, ride the trend and take profit in batches; if you don’t, wait for a pullback and confirmation—don’t add leverage at the end of a big bullish candle.
⚠️ Risk warning: Crypto assets are extremely volatile. The above is only market notes and personal judgment, not investment advice.
In one night, the market snapped from panic to euphoria: BTC is back above 85,000. But this move feels more like short covering that lit a fuse—don’t automatically treat the surge as a brand-new major uptrend.
📊 Market snapshot (09:00 Beijing Time)
BTC: $85,877, 24H +5.26%
ETH: $2,755, 24H +2.45%
SOL: $118.13, 24H +5.24%
The total market cap across the board is about $2.92 trillion, up 2.06% over 24H; 24H trading volume is about $157.6 billion, roughly 91% larger than the previous day. BTC dominance is 58.79%. Fear & Greed Index is 78, which is at “Extreme Greed.”
🔥 What truly matters today
1）This rally was mainly driven by a squeeze. In the past 24 hours, total liquidations across the market were about $750 million, with shorts accounting for about $648 million. Meanwhile, open interest is still rising. This suggests that after the old shorts were knocked out, new leverage is chasing too—the trend looks strong, but it’s not very “clean.”
2）ETF flows have improved, but don’t use outdated figures to claim today’s results. The latest fully completed publicly available trading day is Sep 18: spot crypto ETFs combined saw net inflows of about $509 million, including FBTC about $293 million, ETHA about $106 million, and IBIT about $102 million. As of Sep 21, data has not been fully settled, so no conclusion yet.
3）US regulation shows a split: “Congress stuck, SEC goes first.” The Senate failed to advance a bill on crypto market structure last week; however, the SEC subsequently issued a conditional, five-year exemption pathway for tokenized on-chain trading of US stocks. Legislative uncertainty remains, yet the direction of tokenizing and putting assets on-chain is getting clearer.
4）Security alerts are sounding again. Related infrastructure for Fetch.ai, NuNet, and SingularityNET encountered key/cross-chain bridge permission issues between Sep 19 and 20. For a time, the attacker addresses held about $16.77 million in related assets, including a large amount of tokens minted without authorization—tokens that may not all be liquidated. Recently, don’t click private-message links that offer “compensation” or “restoring assets.”
⏰ What to watch next
Starting 22:05 tonight, multiple Fed officials will speak in a concentrated burst—focus on the interest-rate path and their wording on inflation.
Sep 23 at 21:45: the initial S&P Global US manufacturing and services PMI for September.
Sep 24 at 20:30: initial jobless claims in the US; later the same evening there will also be new home sales.
My view: the rebound is real, and the squeeze is real—but with the Fear & Greed at extreme greed (78) and open interest rebounding, the cost-effectiveness of chasing higher prices right now has clearly dropped. For BTC, first look at the pressure zone around 88,000–90,000; 85,000 is the near-term strength/weakness line. For ETH, as long as it hasn’t firmly reclaimed $2,800, it’s still best to follow the upswing for now. SOL has the strongest elasticity and is also the most likely to give back when sentiment cools.
Trading strategy: if you already have a position, ride the trend and take profit in batches; if you don’t, wait for a pullback and confirmation—don’t add leverage at the end of a big bullish candle.
⚠️ Risk warning: Crypto assets are extremely volatile. The above is only market notes and personal judgment, not investment advice.