Miner sell pressure may ease: JPMorgan analysis says that the current Bitcoin price has returned to the production cost range of around $85,000. As some miners get through the period of cost inverted pressure, overall miner selling pressure may further ease.
The Fed advances new stablecoin rules under the GENIUS Act: The Federal Reserve has officially released two highly anticipated stablecoin rule proposals in connection with the GENIUS Act. The proposals enter a 60-day public comment period. The proposals require that payment stablecoins issued by regulated banks must be backed by fully compliant 1:1 reserves (supporting U.S. Treasuries, Federal Reserve deposits, etc.), must unconditionally satisfy user redemptions within 2 business days, and must establish standardized capital charging and anti-money-laundering review standards.
U.S. stocks officially become DeFi collateral: Lending giant Aave has achieved a milestone—users can now officially deposit tokenized U.S. stocks, including seven tokenized equities such as Apple, Nvidia, and Tesla, into the platform and use them as collateral to borrow USDC.
Scale and risk-control limits: According to the initial settings from risk-control provider LlamaRisk, the loan-to-value (LTV) ratio for this batch of tokenized stocks (supported by Coinbase) is controlled between 65% and 79%. The initial USDC borrowing limit is set at $21 million—an important step toward deeper integration between TradFi (traditional finance) and DeFi.
Bitget exchange suffers a security incident: Blockchain security monitoring shows that the exchange Bitget was hacked and a large amount of XRP was transferred out (worth about $83 million). Since the XRP ledger (XRPL) native architecture does not support directly freezing assets by a single issuing party, Ripple appears powerless in responding to such cross-chain hacker transfers, sparking heated community debate over freezing and security mechanisms for assets on specific chains.
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Bitcoin is currently trading around $84.8K, with BTC up about 1.14% over the past 24 hours. The current 24H range is roughly $82.9K–$84.9K, keeping the $83K–$85K zone in focus for traders.
The interesting part is the combination of price action + volume. If BTC continues holding higher levels with healthy volume, traders may keep watching for another momentum move. On the other hand, crypto remains volatile, so support and volume confirmation are important before making any decision.
🔥 $BTC is moving — are you watching the next move? 👀 $BNB $ETH
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BTC intraday dip hit a low of 76,651; the price broke below the 77,000 level, and the 24-hour drop exceeded 2.5%.
Market logic:
1. The U.S. August PPI inflation data came in higher than expected. The market increased the probability of a September Fed rate hike. U.S. Treasury yields rose, putting broad pressure on risk assets, and BTC was dragged down by macro factors;
2. The derivatives market saw concentrated liquidations. The total liquidation across the whole network was $562 million, with longs being the main liquidation target;
3. On the technical side, the prior 80,000 level faced repeated pressure. Bullish momentum has continued to weaken. The current key support is 76,600; if it breaks, it will further open downside room. Resistance is at 78,000 above;
4. Liquidity: inflows into spot ETFs have slowed, and institutional caution has intensified. Funds have moved away in a risk-off posture.
Next, the focus is on waiting for the U.S. CPI data. Inflation numbers will directly determine subsequent rate expectations, which is the core factor in whether BTC can rebound.
⚠️ This market recap is for reference only and does not constitute any investment advice. #BTC #Bitcoin #CryptoMarket
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