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The US Marshals Service sold Anthropic shares seized from two FTX executives during 2025. Anthropic tripled in value that same year.
Caroline Ellison and Nishad Singh invested $50 million in the company in 2022. Both of them directly helped FTX funnel customer funds through a backdoor and into private investments. A judge stripped them of the stake after they pleaded guilty.
The Year Anthropic Tripled
Ellison paid $10 million while Singh paid $40 million, and both ended up holding Series B preferred stock. A federal judge signed Ellison’s final forfeiture order on February 18, 2025, court records show.
Singh’s followed in April, and the Marshals then sold both blocks to investors already on Anthropic’s cap table.
Timing mattered enormously, because Anthropic closed a round at a $61.5 billion valuation on March 3, 2025. Six months later, it closed another round at $183 billion.
Anthropic's valuation timeline: • 2021: Founded • 2023: $4.1 billion • 2024: $18.5 billion • Mar 2025: $61.5 billion • Sep 2025: $183 billion • Nov 2025: $350 billion • Feb 2026: $380 billion • May 2026: $965 billion https://t.co/N4Uandb6Cb
— Polymarket Money (@PolymarketMoney) June 9, 2026
Nobody outside government knows which side of that jump the sale landed on. The price, the buyers, and the date all remain secret.
The US government’s move to sell Anthropic shares saw them miss out on significant gains, much like what SBF did with several shares of multiple companies, including Anthropic itself.
SBF Sold Too Early: These Exited Bets Later Turned Into Multi-Billion Winners
“Sam Bankman-Fried is the greatest investor of all time…That means if he weren’t in jail today and still owned all this equity, he’d be worth ~$100 billion… He’d be top 20 richest people in the world,” stated Alex Finn, Founder/CEO of Henry Intelligent Machines PBC.
What FTX Victims Know and What They Do Not
Anthropic raised again in May 2026 at a $965 billion valuation. Four days later, it confidentially submitted a draft IPO registration to the SEC. Analysts at PitchBook and UCLA now value the forfeited stake between $2.6 billion and $5 billion.
The FTX estate made a comparable exit first. Its lawyers sold two-thirds of the company’s Anthropic position in March 2024. The price was $884 million, one of several bets they exited early.
That deal was public, with a court filing naming every buyer, from Jane Street to an Abu Dhabi sovereign wealth unit. No such list exists for the Marshals sale.
“It’s a very opaque process… It’s completely at the discretion, by law, of the attorney general of the United States,” Duncan Levin, a white-collar defense attorney who teaches forfeiture at Harvard Law School, reportedly told Business Insider.
Nevertheless, seized money can still be recovered, as seen when Robinhood bought Sam Bankman-Fried’s confiscated shares from the government for $605.7 million in 2023.
Robinhood, $HOOD, to buy back Sam Bankman-Fried's stake in the company from the US government for $605.7 million.
— unusual_whales (@unusual_whales) September 1, 2023
The estate has since kept paying creditors down. No Anthropic entry had surfaced by the end of June 2026.
The Justice Department calls victim compensation a priority and the sale details confidential. For now, only the buyers know what they got.

BeInCrypto is attending TOKEN2049 Singapore as an official media partner, and this year we are bringing The NewsDesk to the main venue. Our team will be at Marina Bay Sands for both days of the conference, October 7-8, interviewing executives and industry leaders from across digital assets and finance.
About TOKEN2049 Singapore 2026
TOKEN2049 Singapore is expected to bring together more than 25,000 attendees, 7,000 companies, 300 speakers and 500 exhibitors across 160+ countries, with more than 60% of attendees holding C-level positions.
Alongside the broader Singapore programme, 1,000 side events will be featured throughout the week. Other major gatherings taking place in Singapore that week include Digital Asset Summit Asia, Sui Basecamp, the Network State Conference, the Milken Institute Asia Summit, and the Forbes Global CEO Conference, all against the backdrop of the Formula 1 Singapore Grand Prix.
This year’s agenda features tracks on institutional capital integration, with traditional financial leaders such as Nasdaq’s Adena Friedman and Franklin Templeton’s Jenny Johnson discussing capital flows and regulatory developments. At the same time, industry leaders including Binance CEO Richard Teng, Hyperliquid Labs CEO Jeff Yan, and Polymarket founder Shayne Coplan will explore exchange liquidity, on-chain derivatives, and decentralised prediction markets.
The speaker’s lineup also features other financial heavyweights such as Joseph Lubin, Co-founder of Consensys, Vlad Tenev, CEO of Robinhood, and Amy Oldenburg from Morgan Stanley, among others.
BeInCrypto NewsDesk at TOKEN2049 Singapore
Our NewsDesk will be located at the main venue in Marina Bay Sands where our journalists will be speaking to industry leaders and covering all the latest announcements and product launches as it happens.
Follow BeInCrypto for coverage across both days, and check token2049.com for the full speaker lineup and agenda as more of the programme is announced.
BeInCrypto is part of the BeInNews Group, an independent media group covering the convergence of finance and digital assets. We help professionals act with confidence in a complex and fast-changing industry through our newsroom, research reports, events, expert councils and multimedia studio.

Japan’s two-year government bond yield climbed to 1.746% on Monday, its highest level in more than 31 years. The move raises the cost of the yen carry trade that has helped fund global risk assets, including Bitcoin (BTC).
Two-year yields track what traders expect from the Bank of Japan (BOJ). Swap markets now price roughly 88% odds of a rate increase in September.
Japan’s 2-Year Yield / Source: CNBC Japan Spent $97 Billion And The Yen Still Fell
The BOJ lifted its policy rate to 1% in June, the highest since 1995. Longer maturities followed. The 10-year Japanese government bond (JGB) yield now sits near 2.93%.
Higher rates would normally support a currency. Instead, the yen weakened. It traded at 160.16 per dollar on Friday and touched 160.20 again on Monday.
USD/JPY daily chart / Source: Tradingview
Tokyo deployed 15.4 trillion yen, close to $97 billion, between July 30 and August 26. That included a rare joint intervention with the United States on July 31. However, the currency has already surrendered more than half of those gains.
The Rate Gap Is Shrinking, Yet The Yen Keeps Sliding
The spread between US and Japanese two-year yields has narrowed to 2.64%. At its 2023 and 2024 peak, that gap ran close to 5%. Half the carry incentive has vanished.
For four decades, the yen tracked that spread closely. Now the two have separated. The currency keeps weakening while the reward for borrowing yen shrinks.
US/Japan 2Y Bond Yield Spread / Source: MacroMicro
That divergence points away from interest rates as the main driver. Mounting Japanese bond losses and heavy debt issuance suggest a confidence problem that higher rates alone cannot solve.
What The Yen Carry Trade Means For Bitcoin Now
Investors borrow yen cheaply, then buy higher-yielding assets abroad. Sharp yen appreciation makes those loans costlier to repay. Forced selling can follow.
August 2024 demonstrated the mechanism. Bitcoin and Ethereum lost as much as 20% as yen-funded positions closed.
Bitcoin trades at $79,087, up 1.3% over 24 hours. The token slipped below $77,000 last week on hawkish remarks from Federal Reserve chair Kevin Warsh.
Therefore, the September BOJ decision matters less as a shock than as a marker. A move priced at 88% odds is largely absorbed. Meanwhile, the position that has yet to unwind keeps building.

GameStop stock climbed about 4% on Monday. The company paid $358.4 million in cash to stop a share count that could have continued to grow.
The payment freezes the deal at roughly 55.5 million new shares. That equals about 12% of GameStop’s 448.7 million shares outstanding.
GameStop (GME) Stock Performance. Source: Yahoo Finance Why GameStop Stock Rallied After the Dilution Fix
On August 3, GameStop agreed to swap $1.4 billion of zero-coupon convertible debt for stock. The company would hand over shares and pay nothing.
The catch sat in the pricing, as the share count depended on an average of GME’s price over 35 trading days. A cheaper stock meant more shares.
Traders spotted the loop at once, and GME fell 12.25% that day to $19.06, down from $21.72 on July 31.
$GME – GAMESTOP SHARES DOWN 3.1% PREMARKET AFTER CO ANNOUNCES PRIVATE EXCHANGE OF $1.4 BLN OF CONVERTIBLE NOTES FOR EQUITY
— *Walter Bloomberg (@DeItaone) August 3, 2026
GameStop has now killed the rest of that window. Noteholders take 73% of the deal in shares and 27% in cash. No further shares can be issued.
The Warning Buried in the Filing
Monday’s amendment added a clause the August 3 release did not carry.
“GameStop expects that participating noteholders may purchase or sell shares of Common Stock or enter into or unwind derivative transactions to adjust their positions, including purchases of Common Stock to close out short positions,” read an excerpt in the filing.
Those last five words matter because convertible investors usually short the stock to hedge. A frozen share count and a cash payout can leave those hedges mis-sized.
GameStop also pulled the closing date forward by 20 days, to about September 3. That compresses the window for any unwinding.
BREAKING🚨 GAMESTOP SAYS NOTEHOLDERS MAY CLOSE OUT THEIR SHORT POSITIONS, WHICH COULD INCREASE THE STOCK PRICE.THEY SAY “THE EFFECT MAY BE MATERIAL.” $GME pic.twitter.com/2im8Ya9zDg
— X Market News🚨 (@xMarketNews) August 31, 2026
What the Fix Does Not Solve
The exchange retires only a third of the debt. Roughly $2.8 billion of the original $4.2 billion convertible stack stays on the books.
The cash came from a shrinking pile, too. Holdings fell to about $5.06 billion from $8.694 billion, mostly because GameStop converted its proposed eBay takeover bid into 43.4 million eBay shares.
The quarter itself read better. Sales slipped to between $780 million and $800 million from $972.2 million. Yet operating margin jumped to roughly 20% from 6.8%, even after a $75 million loss on GameStop’s Bitcoin holdings and other digital assets.
At $18.65, GME still trades 14% below its July 31 close. The dilution clock has stopped. The rest of the risk has not.

Five altcoins broke out during mid-August, and four of them now carry dated September catalysts that could extend or end the move.
The turn rolled through the market in stages. Uniswap bottomed on August 14, and Solana volume spiked on August 19. Zcash, Monero, and Hyperliquid then broke out together on August 22.
Zcash (ZEC) Broke Out 3 Days Before Its ETF Launched
Rank: 10Price: $838.78Market Cap: $14.18 billion
Grayscale listed the first US spot Zcash product on NYSE Arca on August 25 under the ticker ZCSH. The debut was quiet, drawing roughly $14.8 million in first-session volume. Notably, the breakout preceded the listing by three days.
ZEC cleared its November 2025 cycle high near $750 on August 22. It then reached $888, just under the 1.272 Fibonacci extension at $903. The next extension sits at $1,099. This is an eight-year high rather than a record, since ZEC peaked above $3,190 in October 2016.
ZEC daily chart / Source: Tradingview
Meanwhile, a coinholder poll on the NU7 upgrade closes September 14. One question asks whether to replace the halving schedule with a smooth issuance curve. Rejection at $903 could return the price to the $750 breakout level, which held on August 25.
Monero (XMR) Closes In on a Record Above $800
Rank: 13Price: $536.77Market Cap: $10.13 billion
THORChain enabled native Monero swaps on August 25, allowing direct trades against Bitcoin and stablecoins without wrapping. That partly routes around the exchange delistings that hit the asset through 2025. However, XMR carries no dated September catalyst.
The chart broke above the May swing high on August 22 and added 26.5% in seven days. XMR now tests the 0.5 Fibonacci retracement at $538. Above it sits the 0.618 golden pocket at $600, then the record high of $799.89 set on January 14.
XMR daily chart / Source: Tradingview
In contrast to Zcash, this move looks derivatives-led. Open interest roughly doubled in two weeks to about $278 million, and futures volume runs far above spot. A squeeze that builds this fast can unwind just as fast. Earlier privacy coin positioning showed the same pattern.
The immediate support for XMR sits at $476.53.
Hyperliquid (HYPE) Faces a $1.2 Billion Unlock on September 29
Rank: 9Price: $81.78Market Cap: $18.18 billion
Hyperliquid routes 99% of order-book fees into buybacks, currently worth roughly $58 million to $80 million a month. A release of about 14.2 million HYPE, near $1.2 billion, lands on September 29. Roughly 47% goes to insiders.
HYPE cleared its prior record at $77 on August 22 and reached $86.71 five days later. The first target is the 1.272 extension at $92.37, followed by $111.93.
HYPE daily chart / Source: Tradingview
Historically, monthly releases moved price 14.1% lower in May, 1% higher in June, and 7% lower in July. From $81.78, that range maps to roughly $70 to $76, which brackets the $77 breakout level. Below that, support sits at $64.91, then $55.41, where the 0.618 retracement meets the trendline from January.
Uniswap (UNI) Burn Doubled to a Record in August
Rank: 29Price: $5.12Market Cap: $3.19 billion
Uniswap activated v4 protocol fees and Robinhood Chain fees in late July. August was the first full month with both running, and burn funding hit a record $8.9 million. That is roughly double the pace held since January.
UNI set a higher low on August 14, then cleared swing highs at $3.99 and $4.43. It now tests the 0.618 retracement near $4.94. Above that sit $5.66 and the January high at $6.57.
UNI daily chart / Source: Tradingview
The Senate cloture vote on the CLARITY Act falls in mid-September and needs 60 votes. Failure could stall the breakout. Therefore, the burn story needs a caveat, since a 20 million UNI annual growth budget keeps supply closer to neutral than deflationary.
Solana (SOL) Chart Improves While Network Fees Fall
Rank: 7Price: $103.33Market Cap: $60.44 billion
Validators approved SIMD-0550 on August 28, doubling annual disinflation from 15% to 30%. Bitwise crossed $1 billion in Solana ETF assets the same day. Transaction V1 then activates on September 9, raising the maximum transaction size more than threefold.
SOL broke the 0.382 retracement at $93.98 and is now confirming the 0.5 level at $104.44 as support. Volume expanded from August 19. The next target is the 0.618 retracement at $114.89.
SOL daily chart / Source: Tradingview
However, the fundamentals disagree with the chart. Network fees fell 44% quarter over quarter, and Solana’s share of global fees dropped to 17.3% from 26.6%. That divergence makes $104 the level that matters most.
What to Watch Next
The September calendar is tight. Transaction V1 lands on the 9th, the Zcash poll closes on the 14th, the CLARITY vote follows in mid-month, and Hyperliquid’s unlock arrives on the 29th.
Four of these five carry a dated event, and the leaders are extended after an eight-day breakout. Monero is the exception, so its path depends on flow rather than a catalyst.

Bitcoin (BTC) and gold have both given back much of last week’s gains. The two assets had climbed in step through August as investors piled into the debasement trade.
However, Federal Reserve Chairman Kevin Warsh’s Jackson Hole speech on Friday broke that run.
Debasement Trade Powered the August Rally
The rally in both assets began in the bond market. The US Treasury said it will double its buyback cap for longer-dated debt to at least $4 billion.
Investors responded by crowding into alternative assets and moving out of fiat currencies. The MSCI global gold miners index gained 43% in August, its strongest month on record.
Fund flows told the same story. Gold and Bitcoin exchange-traded funds together drew $7 billion across five trading days, a record for that window.
That combination pushed gold to its highest level since mid-May. Price hit an intra-day high of $4,697 an ounce on Tuesday.
Bitcoin rode the same trade. The asset touched $81,354 on Binance last week, its highest level in about 3 months.
Both have since reversed. Gold traded around $4,432 on Monday, down 5.6% from Tuesday’s peak.
Bitcoin and Gold Price Performance. Source: TradingView
BTC has taken a similar hit. The asset changed hands near $77,411, down almost 5% from last week’s high. The drop follows Warsh’s Jackson Hole speech.
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Warsh Turns Hawkish and Hike Odds Jump
The Fed Chair used his first Jackson Hole speech on Friday to sharpen his inflation message. He gave a more hawkish reading of the economy.
“Inflation is running above our 2 percent target. So the Fed’s predominant focus right now should be on prices,” he said.
Rate markets repriced within hours, lifting the odds of a September increase. CME FedWatch data now puts the probability of a September 16 move to a 3.75%-4.00% target range at 62.6%. That is up from 57% a day earlier and 39.9% a week ago.
Fed Rate Probabilities For September. Source: CME FedWatch
Higher policy rates raise the opportunity cost of holding assets that generate no yield. Gold and Bitcoin both fit that description, which explains why the two fell in step.
Does the Gold-Bitcoin Link Still Hold?
The pullback has not broken the pattern. Both assets declined together, which is what a shared macro driver looks like in practice.
Grayscale flagged the shift days before the selloff. Its research found that Bitcoin’s 90-day correlation with gold climbed above 50% this year, while its correlation with the Nasdaq 100 fell from over 60% to roughly 33%.
Zach Pandl, the asset manager’s Head of Research, argued the move reflects investors treating Bitcoin as a monetary hedge rather than a leveraged bet on technology stocks.
That new identity cuts both ways. An asset that trades as a monetary hedge rallies on debasement fears — and sells off when the Fed turns hawkish, regardless of what tech stocks do.
Meanwhile, some of the retreat may also be ordinary profit-taking after a steep run. Both assets remain far above where they started the month.
The September 16 meeting is now the test. If Warsh delivers the hike traders are pricing, the debasement trade will face its first genuine headwind since the bond selloff set it in motion.
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Shenzhen Longsys Electronics, a Chinese semiconductor company, is seeking up to HK$6.28 billion, or about $800 million, from a Hong Kong share sale.
The company set out the terms in a listing document on Monday. The memory chipmaker already trades in Shenzhen. Its Hong Kong offer price sits well below where the mainland stock trades.
Longsys Sells at a 45% Discount to Shenzhen
Longsys is offering about 26 million shares at a maximum price of HK$240.60 per share. That sits 45% below the 376.88 yuan close in Shenzhen on Friday, Bloomberg reported. The stock has gained nearly 33% in 2026.
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Shenzhen Longsys Electronics Stock Performance. Source: Google Finance
The company expects to set the final offer price on September 4 and publish the allocation results by September 7. Trading of its H shares is expected to begin on September 8.
Upsize options could lift the deal to $1.06 billion. The terms indicate a market value of up to $24.9 billion.
The timing favors the company. Longsys reported half-year net profit growth above 71,000% earlier this month, a jump built on soaring memory prices. Its revenue surged to 24.1 billion yuan.
Contract prices have climbed as data center operators compete for supply. The resulting AI memory shortage has lifted valuations across the sector.
About 78.3% of net proceeds will fund research and development. Cornerstone investors have agreed to take 18.89% of the shares. They include Lenovo, Transsion International, CITIC Securities Asset Management, and Lens Technology.
Memory Makers Are Absorbing Enormous Capital
Longsys is the smaller deal in a much larger run on memory. CXMT raised 66.6 billion yuan, or about $9.9 billion, last month. That ranked as China’s second-largest listing ever, and the stock passed Tencent to make CXMT the country’s most valuable listed company.
Others have already sold new stock instead. SK Hynix issued 17.79 million new shares as Nasdaq receipts in July, raising roughly $26 billion.
The appetite has limits, though. SK Hynix fell sharply in July, with KOSPI dropping 22% that month, as investors questioned AI capital spending.
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MicroStrategy resumed Bitcoin (BTC) accumulation after a 10-week hiatus, buying 4,603 BTC for $369.7 million at an average price of $80,318 per coin.
The purchase is the company’s first major acquisition since late June. It follows weeks of speculation sparked by Executive Chairman Michael Saylor’s “We’re ₿ack” post on X.
MicroStrategy Restarts Bitcoin Buying
Strategy acquired the coins between August 24 and August 30, according to a filing published Monday. Share sales paid for every dollar of it.
The company sold 4,531,421 Class A shares across the week and raised $602.8 million in net proceeds. Bitcoin claimed $369.7 million. Another $151.8 million repurchased 1,557,177 STRC preferred shares, while $50.7 million covered STRC dividends and $30 million went to cash.
Saylor had signaled a return to buying over the weekend. Monday’s numbers confirmed it.
Strategy has acquired 4,603 BTC for $370M, increased USD Cash by $29M, and repurchased $152M of $STRC. As of 8/30/26, we hold 845,050 bitcoin:native and $6.71B of USD Assets, bringing Net Leverage to 0.0%. $MSTR https://t.co/XAAEZV5Gil
— Michael Saylor (@saylor) August 31, 2026
A Shift From Capital Preservation
Through July and August, MicroStrategy acted as a net seller of Bitcoin. It shed coins, expanded dollar reserves, and serviced obligations tied to its preferred stock rather than adding to holdings.
Monday reverses the direction, though not the priority. The $151.8 million buyback extends a pattern set when the firm sold coins to support STRC in early August.
Dollar reserves finished the week at $5.10 billion, with $1.61 billion in cash and net leverage at zero.
Why Investors Are Watching
MicroStrategy now holds 845,050 BTC bought for $63.73 billion, an average of $75,412 each. Against Monday’s Bitcoin market price near $79,087, the treasury sits 4.9% above cost.
The new tranche does not. At $80,318 per coin, last week’s buy is already roughly 1.5% underwater, a $5.7 million paper loss inside seven days.
Investors will watch whether share sales keep funding purchases at this pace. Every tranche dilutes existing holders, and MSTR must trade above net asset value for the mechanism to pay off.
The next filing will reveal whether last week opened a cycle or stood alone.

Coinbase CEO Brian Armstrong said onchain reputation will soon replace traditional credit scores. He named the FICO score, the three-digit rating behind 90% of top United States lending decisions.
Armstrong was replying to Base creator Jesse Pollak, who had highlighted the rapid progress of undercollateralized onchain credit. Base is Coinbase’s Ethereum layer-2 network.
Why Onchain Reputation Could Replace Credit Scores
FICO scores run from 300 to 850. Payment history and total debt drive 65% of the number. Credit bureaus own the inputs, and borrowers see little of the method.
Onchain reputation will be the new FICO score https://t.co/NMG56Ymv9k
— Brian Armstrong (@brian_armstrong) August 31, 2026
Brian Armstrong. Source: X
Onchain reputation inverts that setup. Public ledgers already log repayment history, wallet age, and counterparty behavior. Therefore, any lender can read the same record.
Collateral still rules crypto credit, however. Galaxy Research found crypto lending fell 17% to $56.16 billion in the second quarter of this year.
Coinbase kept building anyway. The exchange expanded its Coinbase crypto lending push in February, with collateral behind every loan.
Meanwhile, DeFi has shifted toward curated risk, with DeFi lending strategy layers packaging exposure into managed vaults.
What a Wallet’s History Can and Cannot Prove
Bitcoin (BTC) shows both sides of the idea. Its ledger has logged every transaction since 2009. Anyone can trace wallet age, balances, and counterparties.
That openness stops short of identity, however. Bitcoin addresses carry no name and cost nothing to create. A borrower can drop one wallet and fund a fresh one the same day.
Scoring systems patch the gap with social data. Ethos Network, named in the post Pollak quoted, ranks wallets partly on vouches from other users. Ethos calls the output a summary of sentiment rather than proof of creditworthiness.
Credifi, the app Pollak quoted, sits on top of that number. It lends up to $3,000 against a score of 1,800, with nothing pledged behind the loan.
Armstrong has pushed this theme all year. In May he listed eight areas where he says the financial system needs updating. Institutional and public credit have drifted since, leaving the onchain economy splitting apart.
A $3,000 unsecured loan sits far from a working credit market. Default rates over the coming months will show whether onchain reputation can price real risk.

More Markets lost 15.5 million Wrapped Flow (WFLOW) to an exploit on Flow EVM on Monday. Security firm Blockaid put the initial impact at $9.3 million.
The lending protocol has not confirmed any loss. Its team said it is looking into the claim and will publish findings once the review is complete.
What Blockaid Traced Onchain
More Markets is a non-custodial lending market on Flow EVM built by More Labs. Blockaid said an attacker combined an Ankr bonded liquid staking token with the protocol’s Efficient Mode setting to drain the mFlowWFLOW reserve.
The firm published the exploit transaction, the contract deployment, and 11 follow-up transfers. It also names the attacker address, a helper wallet, and the affected pool.
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Flow (FLOW) price performance over 24 hours, Source: BeInCrypto Markets
Markets reacted quickly. Flow (FLOW) fell about 8% over 24 hours to trade near $0.026. Value locked in More Markets dropped to roughly $3.6 million. Still, the drop comes amid a broader market downturn, which has pulled the total market cap down roughly 3%
Our team is currently investigating a claim that MORE Markets was exploited. We will share our findings shortlhy. https://t.co/fZT6XLVUva
— MORE Markets 🐙 (@MORE_DeFi) August 31, 2026
The attack lands at the end of a punishing stretch for crypto protocols. Cronos halted its blockchain on August 30 after identifying an exploit at Tectonic, its largest lending market. Last week, Moonwell lost an estimated $8.7 million.
DefiLlama data records 37 hacks in August, totaling roughly $140 million. Lending protocols account for the bulk of that figure.
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Robinhood Chain recorded $874.8 million in decentralized exchange (DEX) volume on August 30, its largest single day since the network launched on July 1.
Uniswap routed almost 95% of that total across three versions. A closer look at the activity shows meme coins still setting the pace.
How Cash Cat Set the Template
Robinhood launched its Arbitrum-based Layer 2 on July 1. Within a week, one meme coin was leading the chain.
Cash Cat (CASHCAT) became the first breakout token, climbing to successive highs and topping the chain’s trading tables.
Volume set its previous high of $846.8 million in mid-July, alongside 306,893 active addresses. It then fell back through early August.
Momentum returned late in the month, and the rebound carried more than one record. The chain processed 5.5 million transactions on August 30. Token launchpad volume reached an all-time high of $394.4 million.
Real-world assets are gaining traction as well. Tokenized value on the chain reached $51.81 million, led by $40.76 million in stocks. RWA activity totaled $165.5 million that day, also a record.
Meanwhile, Uniswap version 4 did the heavier lifting at $432 million, ahead of version 3 at $356.9 million and version 2 at $40 million.
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Robinhood DEX Volume Record. Source: Dune Pons Takes Over the Trade
Pons (PONS) led every token on August 30 with $67.38 million in volume, 135,566 trades, and 12,670 unique traders, per Dune. Cash Cat ranked second at $32.66 million.
Nine of the 20 most-traded tokens launched on the same venue, ponsfamily.com. PONS itself trades at $0.328, up more than 370% over seven days, with a $233 million market cap. It set a record $0.39 on August 30.
Pons (PONS) Price Performance. Source: BeInCrypto Markets
Robinhood Chain’s July peak came from launch-week novelty and a token tied to the company’s own name. The next test is whether daily volume holds once the meme coin frenzy cools.
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Crypto exchange Bitrue is approaching its 8th anniversary in 2026, and it’s launching a new interface designed to help traders make informed decisions using AI. But is it any good?
Bitrue AI is pitched as a beginner-friendly trading copilot. It scans live markets, proposes a strategy, sets entry and exit parameters and can manage a position through predefined take-profit and stop-loss levels.
Each recommendation includes Bitrue’s account of the market conditions, technical signals, risk classification, and reasoning used to construct it.
The product spans eight real-time strategies across three risk profiles: Aggressive, Growth and Stable. It also supports futures markets including BTC, ETH, SOL and XRP.
Bitrue says strategies refresh every few minutes as conditions change, rather than remaining static until a trader intervenes.
🤖 What if AI could explain every trade?Bitrue AI doesn't just generate trading strategies. It explains the reasoning behind every recommendation, helping you understand market opportunities with greater confidence✅ 8 real-time AI strategies✅ AI-powered explanations✅… https://t.co/vmg0KGdU58 pic.twitter.com/Lon99lJTBL
— Bitrue (@BitrueOfficial) August 7, 2026
How Bitrue AI Works
The workflow begins with a market, risk preference, and time horizon. The system then generates a complete setup instead of asking the user to assemble one parameter by parameter.
Bitrue lists grid trading, DCA position scaling, RSI reversals, breakouts, double-top and double-bottom patterns, and multi-indicator strategies among its approaches.
Live technical data and large language models feed into proposed entries, exits and risk parameters, with indicators including RSI, Bollinger Bands, volatility and support and resistance levels.
Once a strategy is produced, the user sees the proposed trade alongside its rationale. Bitrue’s 24/7 market watch can then monitor the position and execute pre-set take-profit or stop-loss levels. Analysis, configuration, execution, and monitoring therefore sit inside one decision loop.
A Screenshot of Bitrue AI’s Live Strategy View. Explainable AI for XRP Traders
XRP is a test case because Bitrue has built much of its identity around the asset. For example, consider XRP is trading near $1.01 and a seven-day range extending to about $1.08.
Imagine a grid strategy calibrated around that $1.00-$1.08 band. Repeated movement inside the range can suit the strategy, with orders placed across successive price levels.
A sustained break above $1.08 changes the premise: grid spacing, profit targets, and potentially the strategy itself may warrant reassessment.
Bitrue AI is designed to revisit those assumptions as fresh data arrives. A strengthening trend could favour a breakout or momentum setup; deteriorating momentum could support a more conservative configuration.
The recommendation also shows the evidence the system says informed it, allowing the trader to inspect the assumptions behind the setup.
“An AI system that can’t explain its own trade recommendation isn’t really assisting anyone, it’s just automation with better marketing. With Explainable AI Strategies, someone who has never traded before can see exactly why a strategy was recommended, not just be told to trust it.” – Bitrue Research Institute.
Explainability exposes the assumptions behind a trade, but profitability still rests on whether those assumptions survive the market. A neat account of RSI, momentum and support can make a recommendation intelligible without making the future predictable.
An Overview of Bitrue AI
FeatureBitrue AITypical fixed/manual botStrategy generationGenerated from live analysisParameters configured by the userMarket responseReassessed every few minutesOften adjusted manuallyDecision contextConditions and rationale shownPrimarily parameters or signalsExplainabilityReasoning accompanies recommendationsUsually limitedCapital deploymentParameters adapt with the setupAllocation follows preset rules
Who Bitrue AI Is Built For
Beginners: Traders who want structured setups without building strategies manually.
Busy traders: Users who cannot monitor crypto markets around the clock.
Less disciplined traders: Those who want predefined risk levels and exit points before entering a trade.
Intermediate traders: Users who may want a second opinion or an additional signal alongside their own analysis.
Bitrue AI Review
Bitrue AI makes automated reasoning legible before capital is committed, combining strategy generation, execution and monitoring with an explanation of each setup.
The unresolved issue is performance across changing market regimes. A well-explained strategy can still fail, particularly in leveraged crypto markets where volatility can invalidate a setup quickly.
Bitrue presents the tool as a copilot and advises users to review the reasoning, understand the risk and make the final trading decision themselves. The tool is currently free to use.
Verdict
Bitrue AI has a clearer use case than many crypto products carrying an AI label. Its main strength is the way it turns market data into a structured trade setup while showing users the reasoning and risk assumptions behind it.
That makes it most useful as a decision-support tool for newer or time-constrained traders rather than a replacement for trading judgment.
Its bigger test will be whether those strategies remain useful across different market conditions. Without longer-term performance data, the quality of the interface and explanations can be assessed more easily than the quality of the trading outcomes themselves.
For traders comfortable reviewing AI-generated setups rather than following them blindly, Bitrue AI offers a relatively accessible way to experiment with automated strategy generation. Futures trading still carries substantial risk, regardless of how clearly a recommendation is explained.

XRP price climbed 28.5% in August, its best August since 2021 and a break from a month it has lost six times in nine years. Almost all the fuel arrived in the final two weeks.
History suggests September may hand some of it back.
Why Did the Price Rise 28% in August?
Exchange-traded fund buying accelerated in parallel with the move. US spot XRP funds took in $153.55 million during August, per SoSoValue data.
The timing is key here. Just $3.27 million arrived between August 3 and 14. The other $150.28 million came in the final two weeks, 46 times as much, and the buying is still running with nine straight positive sessions.
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That sum is small against XRP’s $87 billion market value, so it did not lift the price alone. May drew $130 million and XRP still fell. August is simply the first month where big flows and a big gain coincided.
XRP ETF Late Rush: BeInCrypto
Bitcoin’s own streak ended on Friday, so crypto ETF demand is being tested across the board. XRP’s has not broken. The problem is what a strong August has historically cost XRP the month after.
Will XRP Price Crash in September 2026?
In seven of the last eight years, XRP’s September moved opposite to its August. In five of the six years August fell, September rose. And both times August rose, September fell, losing 14% in 2020 and 19.6% in 2021.
XRP August September Mirror: BeInCrypto
Seasonality is a pattern for the XRP price prediction, not a rule, and eight years is a small sample. This year the wallet data points the same way, and it names the sellers.
Who Was Selling XRP During the Rally?
Santiment’s HODL Waves, which sort wallets by how long they have held a coin, show the rally changed hands. Wallets holding XRP for three to six months, meaning coins bought around March to May, cut their share of supply from 6.41% on August 8 to 5.76% at press time.
XRP HODL Waves: Glassnode
Wallets holding for one week to one month nearly doubled their share, from 1.68% on July 31 to 3.22% as of now. That explains the heaviest buying volume of the month came around the August 21 peak.
XRP HODL Waves (Buyers): Glassnode Holder Handover: BeInCrypto
XRP did this before. Heavy buying marked the January 5 top, selling stayed quiet for weeks, and the XRP price then fell 53%.
Bearish Price Pattern: TradingView
21 August’s volume surged even higher, which makes one level on the chart decisive.
XRP Price Prediction for September
XRP trades near $1.36 and has stayed inside a falling channel since January. It sits below its 200-period exponential moving average (EMA), a trend line that weights recent prices more heavily, at $1.56.
The zone between $1.34 and $1.36 matters most, because the 100-period EMA and the first retracement level sit together there. Losing it opens $1.15, then $0.98 and $0.81. Repeating January’s fall from here would reach about $0.58.
XRP Price Analysis: TradingView
As for the surge expectations, nothing improves until a 2-day close above $1.69, the August high. The Federal Reserve meets September 15 and 16 with fresh projections, which could work as the make-or-break catalyst.
Analyst’s View: The ETF money is real, but it arrived late and bought high. The wallets that sold had held since around March, when XRP traded close to today’s price, and were roughly 23% underwater by the end of June. They waited five months and left the moment the rally carried them back to level. September will show whether the new buyers are early or simply the last ones in.

Elon Musk expects artificial intelligence to beat humans at hacking by the end of 2027. He put AI hacking first among the digital tasks machines will dominate.
The forecast followed a fresh security scare. The software company JFrog disclosed a critical flaw in Artifactory, the package registry that many software teams use to store and distribute code.
The Flaw That Reopened the AI Hacking Debate
JFrog published CVE-2026-82329 on August 28. The vulnerability scores 9.8 out of 10 on the standard scale. The company has since shipped patched builds.
Attackers need no password and no user interaction. Default configurations sit exposed. Because Artifactory holds build files, a single break can poison everything downstream. Such supply chain attacks spread through trusted downloads rather than direct break-ins.
Vercel Chief Executive Guillermo Rauch speculated that autonomous agents found and exploited the bug. The public record says otherwise.
OpenAI models discovered nine Artifactory zero-days during a July evaluation. JFrog patched those in version 7.161.15. The new flaw still affects later builds, so the two sets look separate. The July episode joined other cases of AI models breaching systems.
Musk Puts a Deadline on Machine Superiority
Rauch argued that 2026 keeps erasing the things AI supposedly cannot do. Musk agreed and went further.
AI will be able to do anything digital (that doesn’t require shaping atoms) at a superhuman level by the end of next year
— Elon Musk (@elonmusk) August 31, 2026
Musk also credited Google co-founder Larry Page, who warned him a decade ago that AI hacking would outclass human experts. Musk has sharpened his AI growth predictions repeatedly this year.
Vercel Chief Technology Officer Malte Ubl reported a similar result. An open-weight model he tested wrote its own fuzzer while probing the company’s sandbox. Fuzzers hunt software bugs by flooding a program with malformed input.
Rauch draws a blunt conclusion for customers.
Our guidance for this new world: assume everything hackable will get hacked. And it will get hacked autonomously. You must also defend yourself autonomously, because your surface of attack is likely bigger and your code more vulnerable than you expect.
Guillermo Rauch, X
Coinbase CEO Brian Armstrong expects a rogue AI event within two years. Separately, OpenAI already ships a cyber-focused defense model to approved defenders.
Liability still lags the technology, however, and accountability for AI agents remains unsettled. Musk’s deadline leaves security teams roughly 16 months. The harder question is whether defenses scale as fast as AI hacking.

Luke Dashjr has resigned as chairman and chief technology officer of Bitcoin mining pool OCEAN. The Bitcoin hard fork he backs splits from the main chain on Tuesday.
The company also repurchased all of his equity. He now calls the main Bitcoin chain “Spamcoin.” On Tuesday, a Bitcoin hard fork he backs switches to BLAKE2b, a mining algorithm that existing Bitcoin machines cannot run.
Why Dashjr Walked Away From OCEAN
The exit closes a bruising month for the pool. OCEAN’s hashrate fell 96% in August. The pool had routed customer power to a minority chain for about 18 hours. Miners never gave clear consent and demanded leadership changes.
BIP-110, the anti-spam soft fork Dashjr championed, needed 55% miner support. Signaling peaked at 2.53%. Its chain stalled after two blocks, so backers regrouped around a September breakaway coin instead.
Inside Dashjr’s Bitcoin Hard Fork Plan
Dashjr argues that Bitcoin lost decentralized block construction years ago. He says BLAKE2b removes a shortcut called ASICBoost, which hands large miners an efficiency edge. He also says it punishes concentrated mining power.
Critics reject that reading. Adam Back had already called BIP-110 idiocracy in July. Ripple’s former chief technology officer David Schwartz dismissed the network under attack claim as nonsense.
Spamcoin isn't Bitcoin and operates under centralized management, just like the US dollar, but worse.Spamcoin does not allow miners to build their own template.DATUM has no purpose on Spamcoin. Claiming it decentralizes anything is false advertising.
— Luke Dashjr (@LukeDashjr) August 30, 2026
Luke Dashjr. Source: X
He says the legacy chain runs under centralized management and blocks miners from building their own templates. Dashjr now channels that into CONVOY, which he frames as a second run at decentralized mining. OCEAN, meanwhile, keeps operating as a non-custodial pool.
What Happens to BTC on September 1
Bitcoin (BTC) trades near $77,655, down 0.59% on the day. It has still gained 23.3% this month. Hashrate has drifted lower all year as miners leave the network for artificial intelligence contracts. That trend thins the pool of machines any breakaway chain could recruit.
Bitcoin Price Performance. Source: BeInCrypto Markets
Holders face two practical questions, namely replay risk and which chain their wallet tracks. Dashjr recommends a light wallet over a full node. Both questions already surfaced during the August chain split.
A proof-of-work change mints a separate coin. The market then prices which chain carries value.
Dashjr’s previous fork attempt never cleared 3% support. Tuesday, therefore, tests one question. Either real hashrate follows BLAKE2b, or the split repeats the August stall and freezes within hours.

The S&P 500 has gained 13.5% in 2026, outpacing US consumer prices, which rose 3.4% over the 12 months through July.
The trend also holds over the longer term. Historical data show that the index has outpaced US inflation in 16 of the past 20 calendar years.
How the S&P 500 Has Performed Against Inflation
The S&P 500 delivered a 14.76% real return in 2025 after accounting for 2.70% inflation, according to The Kobeissi Letter. The index also recorded strong real returns in the previous two years, gaining 21.47% in 2024 and 22.11% in 2023.
“Stocks have historically been one of the best hedges against inflation,” the post read.
The record is thinner than the count suggests. The four years when stocks failed to beat inflation were 2008, 2011, 2018, and 2022.
Three of those four years ended with inflation below 3%. Consumer prices rose just 0.1% in December 2008, yet the S&P 500 plunged 37% that year.
S&P 500 vs. Inflation. Source: BeInCrypto
The 2022 result was different. The BLS reported a 6.5% year-over-year increase in consumer prices in December. The S&P 500 fell 18.11%. The real loss came to roughly 23%.
Only three years in the period ended with December inflation above 4%. The S&P 500 still outpaced inflation in 2007 and 2021 but fell short in 2022. The largest real return came in 2013, when the index gained 30.42%, and inflation stood at 1.5%.
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AI Earnings Are Carrying the Real Return
Earnings did most of the work in 2025. First Trust calculated that 13.5 of the index’s 17.9 percentage points came from higher earnings per share.
The strength of this market is unprecedented.The S&P 500 has traded for 22 consecutive sessions without a decline of at least -1.0%.Furthermore, the Volatility Index, $VIX, has closed at or below 16 points for 18 straight trading days.On Friday, the $VIX finished at 14.4… pic.twitter.com/MU6nKHopWO
— The Kobeissi Letter (@KobeissiLetter) August 30, 2026
According to FactSet, analysts project 28.2% year-over-year earnings growth for the third quarter of 2026. They expect 31.2% across the full year.
That growth is concentrated in a narrow group. Ben Snider of Goldman Sachs Research said in May that AI infrastructure beneficiaries should supply roughly half of index earnings growth this year. He also flagged narrowing market breadth as a risk signal.
Meanwhile, 9 of the decade’s 10 best S&P 500 performers trace to the same buildout. Nvidia leads that list by a wide margin, with gains above 13,000%.
Inflation has cooled since the spring. Consumer prices rose 4.25% in the year through May before easing to 3.4% in July.
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US spot Bitcoin (BTC) exchange-traded funds (ETFs) recorded $924 million in net inflows from Aug. 24 to Aug. 28. BlackRock’s iShares Bitcoin Trust (IBIT) led with $938 million, according to SoSoValue data. Despite the demand, Bitcoin’s price stayed stuck below $80,000.
Spot Ether (ETH) ETFs added $824 million over the same stretch. BlackRock’s ETHA fund led that category too, extending its own inflow streak to 10 straight trading days. Both products drew strong institutional demand, even as Bitcoin struggled to hold its recent gains.
Why Bitcoin’s Price Isn’t Following ETF Money
The stall traces largely to the Federal Reserve. Fed Chair Kevin Warsh delivered a hawkish keynote at the Aug. 28 Jackson Hole Economic Policy Symposium.
Bitcoin’s price is struggling to stay above $80,000. Image Source: BeinCrypto
He warned that inflation remained a bigger concern than the labor market and declined to rule out a rate hike. Bitcoin slid from around $79,500 to below $77,000 in the hours that followed. Traders priced in higher odds of a hike at the Fed’s September meeting.
Bitcoin also faces a longer-term technical hurdle. On-chain analytics firm CryptoQuant has pointed to a bull market confirmation tied to Bitcoin’s 365-day moving average, near $83,000. BTC has repeatedly failed to close above that level, despite its rally from the mid-$60,000s.
Inflow Streak Comes to an End
The nine-day Bitcoin ETF inflow streak that carried into last week’s total ended on Aug. 28. Funds recorded a $201.81 million net outflow that day. Even so, August remains 2026’s strongest month on record for the products, with more than $3 billion in net inflows.
Bitcoin recorded outflows on Friday last week. Image Source: CoinGlass
Whether Bitcoin can convert renewed ETF demand into a decisive break above $80,000 may depend on the Fed’s next moves. A close above its 365-day moving average would help, too, something it has not managed since the rally began.

John Ternus officially becomes Apple’s chief executive on Tuesday, September 1, replacing Tim Cook, who moves into the role of executive chairman.
Apple’s board approved the succession unanimously in April, capping months of internal planning ahead of the changeover.
What History Says About Year One
Four prior planned tech CEO handoffs have a complete first year to judge, with returns ranging from a 38% decline to a 76% gain, a Motley Fool analysis found. The same analysis found no prior handoff triggered a rush to sell shares beforehand.
AAPL is up nearly 40% in the last 12 months. Image Source: Trading View
Bank of America reiterated its Buy rating on Apple ahead of the switch. Analyst Wamsi Mohan expects Apple’s core business to stay steady while Ternus considers a bigger AI budget.
Options activity in AAPL has stayed elevated heading into the handoff, with sentiment described as mixed rather than clearly one-sided.
A Hardware Veteran Takes Charge
Ternus spent 25 years at Apple, most recently leading hardware engineering across the iPhone, Mac, and Apple Watch lines. His product portfolio also included the iPad, AirPods, and Vision Pro headset.
Cook will focus on government relations in his new post, and Arthur Levinson becomes lead independent director.
AAPL closed Friday at $319.70, up 1.63% on the day. Shares sit about 6% below the record close after Apple’s brief climb to a $5 trillion market cap in July.
The AI Question Ternus Inherits
The bigger test is not the handoff itself, but whether Ternus, a hardware veteran, can deliver Apple’s AI ambitions. Cook addressed the AI compute question directly on his final earnings call, noting demand could outstrip capacity.
“This probably would be a good problem to have.”
Tim Cook, CNBC
Apple’s next Mac software, macOS Golden Gate, is confirmed to arrive by September 22, alongside iOS 27’s Siri AI rollout. Ternus faces his first public test at Apple’s September 9 event, where a foldable iPhone is widely expected. That test will show whether hardware discipline can translate into an AI turnaround.

The crypto market will welcome tokens worth around $1.5 billion in the first week of September 2026. Major projects, including Hyperliquid (HYPE), Ethena (ENA), and Sui (SUI), will release significant new token supplies.
These unlocks could introduce market volatility and influence short-term price movements. So, here’s a breakdown of what to watch.
1. Hyperliquid (HYPE)
Unlock Date: September 6
Number of Tokens to be Unlocked: 9.92 million HYPE
Released Supply: 464.91 million HYPE
Total Supply: 1 billion HYPE
Hyperliquid is a leading decentralized perpetual futures exchange built on its own Layer-1 blockchain. It offers high-performance trading with low latency, on-chain order books, and sub-second transaction finality.
On September 6, the team could unlock 9.92 million tokens worth $797 million. Tokenomist noted that this is a long-range estimate. The tokens account for 2.37% of the released supply.
HYPE Crypto Token Unlock in September. Source: Tokenomist
The team has allocated the unlocked supply to core contributors. Tokenomist pointed out that HYPE has historically claimed far fewer tokens than its projected unlock amounts.
2. Sui (SUI)
Unlock Date: September 1
Number of Tokens to be Unlocked: 13.53 million SUI
Released Supply: 4.08 billion SUI
Total supply: 10 billion SUI
Sui is a high-performance blockchain designed to provide scalability, low latency, and an architecture for decentralized applications (dApps). It also distinguishes itself with an object-centric data model and the Move programming language, which seeks to address inefficiencies in existing blockchain architectures.
On September 1, the network will release 13.53 million SUI into the market, continuing its trend of cliff unlocks at the beginning of the month. The tokens are worth $9.73 million. Moreover, they represent 0.33% of the current released supply.
SUI Crypto Token Unlock in September. Source: Tokenomist
The network will split the unlocked altcoins 3 ways. Early Contributors will gain 7.47 million tokens. In addition, Community Reserve will receive 4 million tokens. Lastly, Mysten Labs Treasury will get 2.07 million SUI.
3. Ethena (ENA)
Unlock Date: September 2
Number of Tokens to be Unlocked: 40.63 million ENA
Released Supply: 8.9 billion ENA
Total Supply: 15 billion ENA
Ethena is a synthetic-dollar protocol built on Ethereum (ETH). Its flagship product is USDe, a synthetic-dollar stablecoin. Furthermore, ENA is the protocol’s governance token.
The team will release 40.63 million ENA tokens on September 2. The tokens, worth $6.05 million, account for 0.46% of the released supply.
ENA Crypto Token Unlock in September. Source: Tokenomist
Ethena will award the entire supply to the Foundation.
In addition to these three, EigenCloud (EIGEN), Gunz (GUN), and GoPlus Security (GPS) will also experience new supply entering the market in the first week of September.

Bitcoin (BTC) is up roughly 24% in August, its largest monthly advance of 2026. This month’s rally lifted the asset from the $60,000s to briefly over $80,000.
However, three warning signs now emerge: exchange balances, exchange-traded fund (ETF) flows, and spot demand have all turned less supportive during the closing days of August.
Bitcoin (BTC) 1 Month Price Chart. Source: BeInCrypto Markets
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Bitcoin Warning Signs Build as Binance Reserves Hit a 2026 High
Binance’s Bitcoin reserves have climbed to roughly 687,000 BTC, the highest level recorded in 2026, according to CryptoQuant data. Reserves dropped near 617,000 BTC in late April before reversing. The build then accelerated through August, as Bitcoin rallied.
Traders usually move coins onto an exchange to sell, hedge, or post collateral. Therefore, a rising balance during a rally makes more supply immediately available for sale.
The number alone proves nothing. Wallet reorganizations, custody shifts, and market-making transfers also lift exchange balances.
Still, that supply now sits on the largest venue while shrinking exchange stablecoin reserves leave less idle cash ready to absorb it.
“A yearly high in Binance reserves near major resistance is a warning sign. The next move above $80,000 will likely depend on whether spot and ETF demand can absorb the additional supply potentially available to the market,” XWIN Japan wrote.
ETF Inflow Streak Breaks as Weekly Demand Halves
Meanwhile, US spot bitcoin ETFs posted a $201.8 million net outflow on August 28, according to SoSoValue data. That red session ended nine consecutive days of inflows, which came as Bitcoin recorded its largest weekly dollar gain on record.
Other major products stayed green on the same day. Ethereum (ETH) funds drew $102.18 million, while XRP (XRP) and Solana (SOL) products added $26.2 million and $18.08 million.
Weekly flows cooled as well. Net inflows fell 51.8% to $924.5 million in the week ending August 28, down from $1.92 billion.
One negative session does not confirm a reversal. However, ETF flows are a major source of demand for Bitcoin, and that may be thinning.
Leverage, Not Spot Buying, May Be Driving the Move
Finally, analyst Crypto Rover argued that the weekend advance lacked spot participation.
“BTC is moving higher over the weekend while spot CVD remains almost flat, suggesting leverage is driving the move. Last time we spotted this same setup, Bitcoin dumped from $81K to $77K,” the post read.
Spot cumulative volume delta (CVD) tracks the balance between aggressive buyers and sellers in spot markets. A flat CVD during a rally can suggest that derivatives or leveraged positions, rather than strong spot demand, are driving the move.
Not every analyst reads the setup that way. GSR’s Andy Baehr has framed the $80,000 breakout as a new market regime built on ETF demand and short liquidations.
Seasonality offers thin comfort. September has averaged a 3.08% loss for Bitcoin since 2013, Coinglass data shows, the weakest average month of the year.
Bitcoin Monthly Returns Table Showing September Seasonality. Source: Coinglass
Recent years cut the other way. The last three Septembers all closed green, including gains of 5.16% in 2025 and 7.29% in 2024.
The coming sessions should show whether spot and ETF buyers can absorb the coins now parked on Binance.
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