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Strategy Bought No Bitcoin as Two Rivals Added $105 Million in Crypto
Corporate crypto treasury strategies continued to diverge last week. Strategy, the world’s largest corporate Bitcoin holder, made no new purchases. Meanwhile, Strive and BitMine acquired approximately $105 million worth of cryptocurrencies.Strategy said it neither purchased nor sold Bitcoin between September 7 and September 13.As a result, Strategy’s holdings remained unchanged at 845,050 BTC. The company acquired these assets for a total of $63.73 billion. Its average purchase price stands at $75,412 per Bitcoin, including fees and expenses.Strategy’s dollar-denominated assets declined by approximately $140 million last week. Its US dollar reserve and available cash fell to a combined $6.4 billion.Strategy repurchased its own shares instead of BitcoinAlthough Strategy made no new Bitcoin purchases, it allocated funds to capital management. The company repurchased more than 1.4 million of its own shares for approximately $139.3 million.This expenditure accounts for most of the weekly decline in Strategy’s dollar assets. The company currently holds a $5.1 billion US dollar reserve. It also has approximately $1.3 billion in cash available for broader purposes.The reserve aims to cover preferred stock dividends and interest payments on outstanding debt. The company can use its other cash resources for broader purposes, including Bitcoin purchases and share buybacks.Strategy completed its latest Bitcoin purchase at the end of August. The company paid $369.7 million for 4,603 BTC. The transaction carried an average price of $80,318 per Bitcoin.Strive added 469 BTC to its reserveWhile Strategy paused its purchases, Strive expanded its Bitcoin reserve. The company acquired 469 BTC for $36.6 million.Strive paid an average price of $77,954 per Bitcoin, including fees and expenses. This figure was close to Bitcoin’s recent market price.The company therefore continued its strategy of building a corporate Bitcoin treasury. Strive previously used several financing transactions to expand its holdings.The latest purchase came during a week when Strategy remained on the sidelines. The development highlights the two Bitcoin treasury companies’ different short-term capital allocation decisions.BitMine purchased 27,180 ETHBitMine completed one of the week’s largest corporate cryptocurrency purchases. The company announced that it had added another 27,180 ETH to its reserve. Based on the disclosed price of $2,513, the acquired Ether was worth approximately $68.3 million. The purchase increased BitMine’s total Ethereum holdings to 5,956,378 ETH.The company’s Ethereum reserve is currently worth approximately $15 billion. Its combined cryptocurrency, cash, marketable securities and other investments have reached $15.8 billion.BitMine continues to pursue its goal of controlling approximately 5% of Ethereum’s supply. The latest purchase brought the company another step closer to that target.Strive and BitMine purchased approximately $105 million worth of cryptocurrencies during the week. Strategy instead allocated capital to repurchasing its own shares. The companies therefore followed different treasury management strategies amid the prevailing market conditions.
Crypto This Week: Fed Decision and 30 Key Events
Bitcoin started the week of September 14–20 at around $77,500. The Federal Reserve’s interest rate decision, a crypto vote in the US Senate and oil prices above $100 could increase market volatility. The crypto calendar also features a Pi Network upgrade, delistings by South Korean exchanges and a TRUMP token unlock worth approximately $57 million. Chainflip is preparing to restart its network following a 736,000 USDT exploit over the weekend.Fed interest rate decision and projections are comingThe Federal Open Market Committee’s two-day meeting will begin on Tuesday, September 15. The Fed will announce its interest rate decision and updated economic projections on Wednesday, September 16, at 9:00 p.m. Turkey time. The chair’s press conference will begin at 9:30 p.m.The Fed’s official calendar confirms the announcement times for the current policy rate of 3.50%–3.75%. Futures markets assign a probability of more than 85% to a 25-basis-point increase. Goldman Sachs and JPMorgan have also revised their expectations toward a rate hike.US consumer inflation, released last week, reached 0.4% monthly and 3.4% annually. Inflationary pressure, combined with strong employment data, strengthened expectations that the Fed could resume monetary tightening.Markets will also monitor the dot plot and economic forecasts for 2026–2028. Officials’ projections for further rate increases this year could influence Bitcoin through movements in the dollar and Treasury yields.US retail sales data for August will arrive on September 16 at 3:30 p.m. Turkey time. Import price data, scheduled for the same time, will offer further information about how energy costs are feeding into domestic inflation.BoE and BOJ decisions fall in the same weekThe Bank of England will publish its interest rate decision on Thursday, September 17, at 2:00 p.m. Turkey time. All 65 economists surveyed by Reuters expect the BoE to keep its policy rate unchanged at 3.75%.The United Kingdom will announce August inflation data one day before the decision. According to the Office for National Statistics calendar, the figures will arrive on September 16 at 9:00 a.m. Turkey time. Annual inflation stood at 2.9% in July.The UK labor market report will be released on Tuesday, September 15, at 9:00 a.m. It will include new data on unemployment, wage growth, job vacancies and payroll employment.The Bank of Japan will meet on September 17–18. A Reuters poll indicates strong expectations that the central bank will raise its current 1% policy rate by 25 basis points.The decision is expected on the morning of Friday, September 18. BOJ Governor Kazuo Ueda’s press conference will begin at 9:30 a.m. Turkey time.The meeting carries additional significance for crypto markets. A rate hike could strengthen the yen and trigger the unwinding of leveraged positions financed through the Japanese currency.CLARITY Act heads for a critical Senate voteThe US Senate is preparing to hold a procedural vote on the CLARITY Act on September 15. The legislation aims to define the division of responsibilities within the digital asset market. It needs support from 60 senators before debate can formally begin.The bill would reorganize regulatory authority over crypto assets between the Securities and Exchange Commission and the Commodity Futures Trading Commission. It would also establish federal rules for exchanges, brokers, custodians and token issuers.The Senate Banking Committee approved the bill in May by a vote of 15–9. According to Reuters, objections involving stablecoin interest payments and crypto companies’ access to banking services could make the 60-vote threshold difficult to reach.Passing the procedural vote would not amount to final approval. If the motion succeeds, the Senate would still need to consider amendments and vote on the full legislative text.The House Ways and Means Committee could also discuss the taxation of staking and mining rewards on September 16. Wash-sale rules for digital assets may form another part of the discussion.However, the committee has not published a confirmed time on its official calendar. Therefore, the potential hearing is not included in this week’s verified schedule.Oil prices become a liquidity risk againBrent crude started the week near $107 per barrel, while West Texas Intermediate traded around $102. Attacks on energy infrastructure in Saudi Arabia and risks to regional shipments continue to support prices.Oil prices remaining at these levels could fuel global inflation through higher fuel and transportation costs. The Fed, BoE and BOJ will all announce decisions this week, increasing the potential impact of energy-driven inflation on digital assets.Attacks on Russian refineries are also reducing diesel production and intensifying pressure on energy markets. US diesel prices rising above $6 per gallon create another risk for corporate costs and consumer inflation.Upbit, Bithumb and Bitget plan delistingsUpbit and Bithumb will end trading support for Storj, JasmyCoin and ThunderCore on Monday, September 14, at 9:00 a.m. Turkey time. The exchanges will cancel open orders for STORJ, JASMY and TT, while withdrawals will remain available until October 14.Bitget’s first change will affect Classic Account users on September 17. The exchange will stop allowing new positions in NEARUSD, AVAXUSD, ADAUSD, LINKUSD, DOGEUSD, SOLUSD, XRPUSD, ETHUSD and BTCUSD coin-margined perpetual contracts after 7:00 a.m.Trading in these contracts will end completely at 10:00 a.m. Bitget’s official announcement indicates that contracts under Unified Accounts will remain unaffected.The exchange will also delist the CAMP/USDT, RHEA/USDT, ORBS/USDT and TURBO/USDT spot pairs on Friday, September 18, at 1:00 p.m. Withdrawals will remain available until December 18 at 1:00 p.m.No major spot listing or high-profile token launch has been confirmed for this week. Therefore, delisting decisions and supply developments involving existing tokens will carry greater weight.Pi Network targets Protocol 27 upgradePi Network has set September 15 as the target date for upgrading its mainnet to Protocol 27. According to the project’s announcement, the update will introduce more flexible and secure authentication features for smart contracts.The team has not announced an exact activation time. The target date also depends on network readiness. Exchanges could temporarily suspend PI deposits and withdrawals during the upgrade.Ethereum developers will hold an All Core Developers Consensus call on September 17 at 5:00 p.m. Turkey time. The meeting will cover consensus-layer development and preparations for the Glamsterdam upgrade. However, the call itself does not represent a mainnet upgrade.Chainflip restart expected after exploitChainflip started the week with operations suspended following an exploit involving its USDT integration on TRON. The attacker abused a vulnerability in transaction memo processing to withdraw 736,442 USDT through six unauthorized payments.The project said its other vaults were unaffected and promised to compensate affected users. Incomplete user transactions worth approximately 115,654 USDT remain in the vault until the network restarts.Chainflip initially said the restart would not happen before Monday. However, it has not provided an exact time.According to the incident report, the project could release a new software version, compensation details and a technical review this week.No separate binding, high-impact DAO vote with a confirmed deadline appears on the calendar. Chainflip’s operational decisions and the CLARITY Act process represent the week’s main governance and regulatory developments.TRUMP and ZRO unlocks carry significant valueOfficial Trump will conduct the week’s largest token unlock by dollar value. A total of 28.7 million TRUMP will enter circulation on September 18. Based on the morning spot price, the tokens are worth approximately $57.1 million.The unlock represents about 2.9% of the total token supply. Its share of the circulating market capitalization is higher, increasing the risk of short-term dilution.LayerZero will unlock 25.71 million ZRO on September 20. The tokens are worth approximately $26.9 million at the current price and represent around 4.2% of the circulating supply.Bedrock will release 40.63 million BR on the same day. The unlock is worth approximately $15 million and equals nearly 18.7% of the circulating supply. This makes it one of the week’s most significant events in proportional terms.Arbitrum’s unlock of 92.65 million ARB will occur on September 16 at 4:00 p.m. Turkey time. The tokens currently have a combined value of around $12.7 million.Additional supply entering the market will include approximately $8.4 million in YZY, $5.4 million in KAITO, $3.6 million in STRK and $2.5 million in SEI. LISTA will also release tokens worth around $2.6 million on September 20.CoinShares results and two conferences on watchCoinShares will publish its financial results for the six months ended June 30 on September 14. Management’s conference call will begin at 3:30 p.m. Turkey time.Digital asset prices, fund flows and assets under management will be among the report’s main areas of interest.Bitcoin miner Bitdeer will also attend the H.C. Wainwright Global Investment Conference on September 14. Its presentation could provide updates on mining capacity, energy infrastructure and investments in artificial intelligence data centers.The European Blockchain Convention will take place in Barcelona on September 16–17. Its program focuses on institutional crypto adoption, tokenization, stablecoins, custody services and European regulation.ETHTokyo Week will begin on Saturday, September 19, and continue until September 27. The program will bring Ethereum developers, security researchers and Web3 projects together in Tokyo.This week’s 30-event crypto calendarSeptember 14: CoinShares publishes its first-half 2026 results.September 14: Bitdeer attends the H.C. Wainwright conference.September 14, 9:00 a.m.: Upbit and Bithumb end STORJ, JASMY and TT trading.September 14–15: Remaining sessions of the ETHTaipei program.September 15, 3:00 a.m.: Approximately $3.6 million STRK token unlock.September 15, 6:00 a.m.: Approximately $8.4 million YZY token unlock.September 15, 9:00 a.m.: UK labor market report.September 15, 3:00 p.m.: Approximately $2.5 million SEI token unlock.September 15: Target date for the Pi Network Protocol 27 mainnet upgrade.September 15: US Senate procedural vote on the CLARITY Act.September 16, 9:00 a.m.: UK consumer and producer inflation data for August.September 16, 3:30 p.m.: US retail sales for August.September 16, 3:30 p.m.: US import and export prices for August.September 16, 4:00 p.m.: Approximately $12.7 million ARB token unlock.September 16–17: European Blockchain Convention.September 16, 9:00 p.m.: Fed interest rate decision and economic projections.September 16, 9:30 p.m.: Fed chair’s press conference.September 17, 12:00 p.m.: Final eurozone inflation data for August.September 17, 3:30 p.m.: US weekly jobless claims.September 17, 3:30 p.m.: US housing starts and building permits for August.September 17, 2:00 p.m.: Bank of England interest rate decision.September 17, 5:00 p.m.: Ethereum All Core Developers Consensus call.September 17, 10:00 a.m.: Bitget closes nine coin-margined perpetual contracts.Morning of September 18: Bank of Japan interest rate decision, followed by a press conference at 9:30 a.m.September 18, 1:00 p.m.: Bitget delists CAMP, RHEA, ORBS and TURBO spot pairs.September 18: Approximately $57.1 million TRUMP token unlock.September 18, 4:15 p.m.: US industrial production and capacity utilization for August.September 19: ETHTokyo Week begins.September 20, 3:00 a.m.: Approximately $15 million BR token unlock.September 20: Approximately $26.9 million ZRO token unlock.The market’s direction may depend less on whether the Fed raises rates and more on the statement’s guidance for future meetings. Oil prices above $100, BOJ-driven movements in the yen and the CLARITY Act vote could also widen trading ranges across Bitcoin and altcoins.
US Inflation Data Released: Bitcoin Falls Below $77,000
US inflation data for August has been released. Headline inflation matched expectations, while monthly core inflation exceeded forecasts.The Consumer Price Index rose 0.4% in August. Economists had also forecast a 0.4% increase. The index gained 0.1% in July.Annual inflation remained at 3.4%. The figure matched both market expectations and July’s reading.Core inflation, which excludes volatile food and energy prices, presented a less favorable picture. Core CPI increased 0.3% month over month, exceeding the 0.2% forecast.Following the data, Bitcoin fell as low as $76,700. Persistent inflation strengthened expectations that the Federal Reserve could raise interest rates next week. US core inflation exceeds expectationsCore CPI had risen 0.2% month over month in July. The August figure showed renewed momentum in underlying price pressures.Meanwhile, annual core inflation came in at 2.4%, matching market expectations. It had stood at 2.5% in July.The report therefore delivered mixed signals. Annual core inflation slowed, while the monthly increase exceeded forecasts.The Federal Reserve closely monitors core inflation indicators when setting interest rates. August’s 0.3% increase suggested that price pressures were not yet fully under control.Fed rate hike expectations strengthenThe August inflation report carried particular importance ahead of next week’s Fed meeting. Fed Chair Kevin Warsh said during his Jackson Hole speech that the central bank might need to act unless inflation showed signs of slowing.Rate hike expectations climbed rapidly in the bond market following those comments. Investors had previously expected no further increases during the remainder of 2026. Recent developments, however, brought as much as 75 basis points of tightening this year into consideration.The shift in expectations also affected US Treasury yields. The 10-year Treasury yield climbed from around 4.60% to nearly 5%.The two-year Treasury yield, which is more sensitive to Fed policy, rose from 4.20% to 4.56%. Higher yields increased pressure on risk assets such as Bitcoin, which does not generate interest income.Bitcoin price declines after inflation dataBitcoin fell to $76,700 in the minutes following the report. According to the latest market data, the price later stabilized at around $76,955.The largest cryptocurrency lost approximately 1% over the past 24 hours. Its weekly decline reached 5.4%.Ethereum traded at around $2,456 after losing nearly 3% over the past seven days. XRP’s weekly decline approached 8.8%, while Solana fell around 4.8%.Selling pressure emerged as traders concluded that the inflation report gave the Fed more room to raise interest rates. Higher rates increase returns on traditional assets such as bonds and can weaken demand for cryptocurrencies.The Fed’s decision next week will now play a decisive role in the crypto market’s short-term direction. Investors will follow the rate decision alongside Kevin Warsh’s comments on inflation and the policy outlook for the remainder of the year.
US PPI Data Arrives: Bitcoin and Ethereum Drop Sharply
US producer inflation rose 5.4% annually in August. Selling across the cryptocurrency market accelerated following the data.Bitcoin fell 3.5% to $76,800. Ethereum dropped 3.8% to $2,417. Bitcoin had climbed as high as $79,606 during the day. However, selling pushed the price toward its daily low.Rising inflation strengthened expectations surrounding the Federal Reserve’s interest rate policy. Higher Treasury yields also pressured risk assets.The crypto market now awaits US consumer inflation data. The US will publish August CPI figures on September 11.US producer inflation climbed to 5.4%The US Labor Department published the August PPI figures. Producer prices increased 0.4% on a monthly basis.Economists also expected a 0.4% monthly increase. Therefore, the monthly figure matched market expectations.However, annual PPI reached 5.4%. Markets expected the annual rate to reach 5.3%.Producer inflation stood at 4.8% in July. Consequently, the latest figure signaled accelerating price pressures.Prices excluding food and energy increased 0.2% monthly. Annual core PPI rose to 4.6%.This rate stood at 4.2% in July. Therefore, underlying price pressures also remained strong.Rising energy costs particularly pushed producer prices higher. Increasing oil prices amplified inflation risks.Bitcoin fell below $77,000Bitcoin traded around $78,000 before the PPI report. Selling pressure increased considerably after the data.BTC fell to $76,788 during the writing of this report. Its daily loss reached 3.5%.Consequently, Bitcoin moved below the $77,000 support level again. The price also erased all its intraday gains.Bitcoin recently produced an important technical signal. Its 50-day moving average crossed above the 200-day average.Investors call this pattern a “golden cross.” However, macroeconomic pressure limited short-term technical optimism.The $80,000 level represents strong resistance for Bitcoin. Meanwhile, the $76,000 region remains important support.Continued selling could bring $75,000 into focus. Conversely, buyers could target $77,000 again.Ethereum’s loss reached 3.8%Ethereum also declined alongside Bitcoin. ETH fell as low as $2,416.The token had climbed to $2,517 during the day. However, strong selling ended its recovery attempt.Ethereum’s daily loss reached 3.8%. Therefore, ETH slightly underperformed Bitcoin.Altcoins generally move more sharply during risk-off periods. Consequently, macroeconomic uncertainty could intensify pressure on altcoins.Changes in Bitcoin dominance also carry importance. Rising dominance could deepen losses across altcoins.Rising oil prices and Treasury yields pressured cryptoBrent crude remained above the $100 level. The price surpassed $105 during the day.Elevated oil prices increase energy-driven inflation risks. This outlook complicates the Fed’s interest rate decision.The US 10-year Treasury yield approached 4.9%. Rising yields reduce demand for risk assets like cryptocurrencies.Wall Street futures also declined following the data. Nasdaq 100 futures dropped about 1.1%.S&P 500 futures lost 0.47%. Meanwhile, Dow Jones futures declined 0.29%.Therefore, selling pressure extended beyond the cryptocurrency market. Declining global risk appetite affected several asset classes.Crypto market awaits US CPI dataInvestors now focus on Friday’s US CPI report. This data could carry greater weight in the Fed’s decision.Stronger-than-expected CPI could increase rate-hike expectations. Such an outcome could accelerate selling across cryptocurrencies.Lower inflation could provide short-term market relief. However, oil prices remain a key risk.The Fed will announce its interest rate decision on September 16. Therefore, Bitcoin volatility could remain elevated in the coming days.
Strive Bought Bitcoin, Bitmine Accumulated ETH: Strategy Made No Purchases
Activity in corporate crypto treasuries picked up again. Strive bought $109 million worth of Bitcoin last week, while Bitmine added more than 28,000 ETH. Strategy, meanwhile, paused Bitcoin purchases during the same period.Strive’s latest purchase lifted its Bitcoin holdings to 24,531 BTC. Bitmine increased its Ethereum treasury to 5.93 million ETH, equivalent to roughly 4.9% of the circulating supply.Strategy, the largest corporate Bitcoin holder, took a different path. The company made no Bitcoin purchases last week and instead repurchased STRC preferred shares.Strive buys $109 million worth of BitcoinStrive purchased a total of 1,375 Bitcoin between Aug. 31 and Sept. 4. The company spent approximately $109 million on the new BTC.According to an 8-K filing submitted to the SEC, the purchases were made at an average price of $79,281 per Bitcoin. Strive’s total holdings therefore increased from 23,156 BTC to 24,531 BTC. The company also strengthened its cash position during the week. Cash and cash equivalents rose from $183.5 million to $202.6 million.Strive’s position in STRC shares issued by Strategy remained unchanged. The company continues to hold 505,000 STRC shares.CEO Matt Cole previously said Strive could become the world’s second-largest publicly traded Bitcoin treasury by the end of 2026. The latest purchases show that the company continues to accumulate Bitcoin toward that goal.Bitmine buys another 28,000 ETHOne of the largest Ethereum purchases of the week came from Bitmine Immersion Technologies. The company acquired another 28,086 ETH.Bitmine’s total Ethereum holdings reached 5,929,198 ETH as of Sept. 7. Based on an ETH price of $2,495, the company valued the position at around $14.8 billion. That amount represents around 4.9% of Ethereum’s roughly 122 million token supply. Bitmine is therefore approaching its previously announced target of accumulating 5% of the Ethereum supply.The company is also putting most of its ETH to work through staking. A total of 5,067,309 ETH is currently deployed through staking systems.The staked amount represents roughly 85% of Bitmine’s total ETH holdings. The company estimates that its current staking position could generate around $330 million in annual revenue.Bitmine said annual staking revenue could rise to approximately $386 million if all of its ETH holdings were staked. The estimate is based on a seven-day annualized yield of 2.61%. The company’s balance sheet also includes 211 BTC. Bitmine reported $593 million in cash and marketable securities.Strategy made no Bitcoin purchases last weekStrategy, the largest corporate holder of Bitcoin, ended the week without adding to its position. The company said it neither bought nor sold Bitcoin between Aug. 31 and Sept. 7. Strategy’s total Bitcoin holdings therefore remained unchanged at 845,050 BTC. The company acquired those coins for a total cost of $63.73 billion.Strategy’s average Bitcoin purchase price stands at around $75,412. Its holdings represent more than 4% of Bitcoin’s maximum supply of 21 million coins. Instead of buying Bitcoin, Strategy directed capital toward its own financial products last week. The company repurchased 1.81 million STRC preferred shares for approximately $176.3 million.It also doubled the size of its Digital Credit Securities Repurchase Program from $1 billion to $2 billion. Strategy funded the repurchases through its U.S. dollar reserves. Corporate crypto treasuries pursue different strategiesThe latest disclosures highlight the growing differences between corporate crypto treasury strategies. Strive continues to expand its Bitcoin holdings, while Bitmine is aggressively accumulating Ethereum.Strategy is taking a more cautious approach for now. The company is maintaining its massive Bitcoin position while placing greater emphasis on balance sheet management.Bitmine’s model also puts staking income at the center of its strategy. The company aims to generate additional cash flow from the Ethereum held on its balance sheet.Strive, meanwhile, is focused on climbing the rankings of public Bitcoin treasury companies. The latest moves from all three firms show that the corporate crypto treasury race is increasingly shaped by more than just the amount of BTC or ETH held.
Bitcoin ETFs Post Third Positive Week With $987 Million in Inflows
U.S. spot Bitcoin ETFs recorded $986.9 million in net inflows last week. This extended their positive flow streak to three consecutive weeks, highlighting a recovery in institutional investor demand.Spot Ethereum ETFs showed a similar trend. ETH funds attracted a total of $218.4 million in net inflows last week and also finished a third straight week in positive territory.According to SoSoValue data, weekly inflows into Bitcoin ETFs increased from $924.5 million in the previous week. Bitcoin, meanwhile, continues to trade around $80,000 despite the strong fund flows. BlackRock led Bitcoin ETF inflowsSpot Bitcoin ETFs attracted a total of $986.9 million in fresh capital during the week ending Sept. 4. BlackRock’s IBIT led the market with $691.5 million in weekly net inflows.This marked the third consecutive week of positive flows for U.S. spot Bitcoin ETFs. Weekly inflows increased by roughly $62 million compared with the previous week.Trading activity, however, declined. Total weekly trading volume across Bitcoin ETFs came in at $14.5 billion.That figure stood at nearly $19 billion a week earlier. The combination of continued inflows and lower trading volume suggests investors increased exposure during a period of relatively subdued market activity.Ethereum ETFs attracted $218 millionSpot Ethereum ETFs also ended last week with positive flows. The funds recorded a combined $218.4 million in net inflows.Ethereum ETFs therefore matched Bitcoin funds with a third consecutive positive week. Weekly trading volume totaled $4.1 billion.The previous week, Ethereum ETF trading volume had reached $6.3 billion. Trading activity therefore slowed on the ETH side as well, even as net capital inflows continued.The latest positive flows followed a strong August for both ETF categories. Spot Bitcoin ETFs attracted a total of $3.52 billion in net inflows during the month.That marked the strongest monthly inflow figure for Bitcoin ETFs since September 2025. Spot Ethereum ETFs brought in $1.85 billion in August, their best monthly result since August 2025.Bitcoin holds near $80,000Despite strong ETF inflows, Bitcoin has so far shown limited price movement. BTC climbed to around $81,700 last Thursday before pulling back toward the $80,000 area.As of Sept. 7, Bitcoin was trading at around $79,950. Continued ETF inflows are supporting expectations that institutional spot demand is strengthening.Zeus Research analyst Dominick John said sustained ETF inflows indicate that institutional investors are rebuilding their Bitcoin exposure. According to John, demand coming directly through the spot market suggests the move is not being driven solely by leveraged speculation.Presto Research associate Min Jung also said the crypto market appears to be experiencing a catch-up move after lagging other risk assets. Jung added that strong ETF inflows point to renewed institutional demand.The next major test for the market will come from upcoming U.S. macroeconomic data. Investors will be watching jobless claims on Sept. 10 and U.S. inflation data on Sept. 11.A weaker-than-expected inflation reading could support Bitcoin through expectations around Fed policy and global liquidity. A hotter inflation print, however, could push bond yields higher and increase pressure on the crypto market.
Crypto This Week: All Eyes on 30 Key Developments, U.S. Inflation and ECB Decision
Bitcoin started the September 7–13 week at around $79,800. Last Friday’s stronger-than-expected U.S. employment report strengthened expectations for an interest rate hike, while a security incident involving 4,000 BTC on Liquid Network became the first major crypto risk of the week. According to the official report from the U.S. Bureau of Labor Statistics, nonfarm payrolls increased by 162,000 in August, while the unemployment rate remained at 4.1%. A Reuters poll had expected an increase of only 56,000 jobs, while markets pushed the probability of a September rate hike to around 60% after the data.Liquid Network halted after 4,000 BTC was withdrawnAround 4,000 BTC was withdrawn from the federation wallet of Bitcoin-based Liquid Network on September 6 by individuals describing themselves as “white hats.” At Bitcoin’s current price, the assets are worth roughly $320 million.Liquid said the transactions were carried out through SideSwap’s Peg-out Authorization Key and stated that the relevant key had not been compromised. The network halted new transactions and asked exchanges to suspend L-BTC deposits and withdrawals.There is still no confirmed timeline for the funds to be returned or for the network to restart. L-BTC reserves, exchange responses and the on-chain movement of the funds will therefore remain under close watch throughout the week.The incident did not affect the Bitcoin mainnet. The risk is concentrated in Liquid’s federation-managed BTC deposit and withdrawal mechanism.U.S. inflation could influence the Fed’s September decisionU.S. producer prices will be released on Thursday, September 10 at 3:30 p.m. Turkey time. The BLS calendar confirms that the report will cover August.Producer prices were unchanged on a monthly basis in July, while annual PPI declined to 4.7%. The recent increase in oil and refined fuel costs makes energy components particularly important in the August report.Consumer prices will be released on Friday, September 11 at 3:30 p.m. Turkey time. A Reuters survey expects headline CPI to rise 0.4% month over month, while the core index excluding food and energy is expected to increase 0.2%.Annual headline inflation is expected at 3.4%. A separate model estimate from the Cleveland Fed puts August inflation at 3.38% and core inflation at 2.38%.Fed officials have entered the blackout period ahead of the September 15–16 meeting. As a result, markets will focus on PPI, CPI and weekly jobless claims rather than new guidance from policymakers.ECB expected to raise rates by 25 basis pointsThe European Central Bank will announce its interest rate decision on Thursday, September 10 at 3:15 p.m. Turkey time. ECB President Christine Lagarde’s press conference will begin at 3:45 p.m., while new economic projections will be published at 4:45 p.m.The ECB’s official schedule shows that the meeting will take place in Berlin. All 65 economists surveyed by Reuters expect the deposit rate to be increased by 25 basis points to 2.50%.Eurozone inflation rose to 3.3% in August. The ECB’s messaging will be important in determining whether the hike is viewed as a one-off move and how higher energy prices are reflected in its 2027 projections.Oil prices approach $97Brent crude started the week at around $96.85, while U.S. crude traded near $92.10. Iran’s plan to establish a restricted maritime zone around the Strait of Hormuz and renewed attacks in the region have increased the risk premium surrounding energy supplies.Market assessments indicate that elevated diesel and oil prices are once again putting pressure on the global inflation outlook. Persistently high energy costs could strengthen the case for tighter monetary policy from both the Fed and the ECB.China’s August foreign trade data will be released on September 8. A Reuters poll expects exports to increase 25% year over year, imports to rise 30% and the trade surplus to reach $119.05 billion.Harmony considers migrating to EthereumThe Harmony team has proposed shutting down its independent layer-1 network and continuing the ONE token as an ERC-20 asset on Ethereum. The proposal has not yet passed a binding on-chain vote, and a final block date has not been confirmed.According to the published plan, users are being asked to exit liquidity pools and other smart contracts by September 10. Contracts that cannot be migrated directly, multisig wallets and decentralized applications could face risks.Validators will be able to begin shutting down their nodes from 5:00 p.m. Turkey time on September 10. The proposal calls for ONE balances to be recorded at the final block, with new Ethereum-based tokens distributed to the same addresses.There is no separate binding, high-impact DAO vote with a confirmed deadline this week. Harmony’s proposal therefore stands out as the main governance-related development.MultiversX to activate Supernova upgradeMultiversX will activate its Supernova mainnet upgrade on September 10 at around 9:05 p.m. Turkey time. The exact timing could shift by several minutes depending on block and round production.According to the project’s technical schedule, the upgrade will activate at round 32,157,661. Block time will fall from six seconds to 600 milliseconds, while the network will separate consensus from transaction execution.Fractal Bitcoin’s first halving is expected around September 9. The block reward will fall from 25 FB to 12.5 FB, while the project also plans to permanently burn 4.1 million unused FB.Upbit and Bitget to implement delisting decisionsUpbit will end BONK/KRW and BONK/USDT trading on September 7 at 9:00 a.m. Turkey time. According to the exchange’s official announcement, open orders will be canceled, while withdrawals will remain available until October 7.Bitget will close spot margin trading for FIDA, ALT, SATS, BLAST, BLUR, WAVES, BAN, AIXBT, RUNE, EGLD, LPT and GRT on September 10 at 6:00 a.m. Turkey time. Open positions and outstanding liabilities may be automatically liquidated by the exchange.The main spot delisting will take place on September 11 at 1:00 p.m. Turkey time. Bitget’s announcement includes 19 pairs involving VIC, CESS, MAK, VERT, JELLYJELLY, FIDA, BROCCOLI, ALT, SATS, FTT, BLAST, BLUR, WAVES, BAN, AIXBT, RUNE, EGLD, LPT and GRT.Withdrawals for these assets will remain open until December 11 at 1:00 p.m. Turkey time. There is no confirmed high-profile new spot token launch on a major exchange this week.NAME, PUMP and UP supply increases stand outThe largest proportional token unlock of the week will take place for NAME. Tokens worth around $55.67 million will be released on September 9 at 3:00 a.m. Turkey time, equivalent to 74.54% of the token’s current market capitalization.The STABLE unlock, scheduled for around 3:00 a.m. on September 8, will add approximately $24.9 million worth of tokens to supply. PUMP will see around $34.68 million worth of tokens become available on September 12 at 9:00 a.m.Unitas Labs will unlock approximately $11.78 million worth of UP on September 13 at 3:00 a.m. Turkey time. The amount represents 18.62% of the token’s current market capitalization.Aptos is scheduled to release 14.36 million APT on September 12 at 3:00 a.m. According to allocation data, 43.6% of the tokens are assigned to the community, 27.6% to insiders, 19.6% to investors and 9.3% to the foundation.Approximate dollar values for the token unlocks were calculated using current spot prices and will change as prices fluctuate. The weekly calendar also includes around $3.49 million worth of DOS, $3.49 million worth of HOLO and $1.39 million worth of NRS unlocks.Four crypto conferences scheduledBoston Blockchain Week will take place from September 8–10 at the Marriott Boston Quincy. The program focuses on blockchain infrastructure, artificial intelligence and security.Stablecon USA will be held on September 9–10 at National Harbor in the Washington area, bringing together stablecoin issuers, banks and regulators. Stablecoin payments, institutional integration and regulation are among the main topics on the agenda.Crypto Expo Dubai will take place on September 9–10 at the Dubai World Trade Centre. The organizer’s website indicates that the event is proceeding as planned, although regional security developments and flight conditions will remain under close watch.Web3 Warsaw will be held in Warsaw on September 10. The official program includes sessions covering blockchain, gaming, NFTs and artificial intelligence.Robinhood executives will participate in the Goldman Sachs Communacopia + Technology Conference on September 9 at 8:50 p.m. Turkey time. The company’s investor calendar will provide a live webcast of the presentation.There are no confirmed earnings releases this week from Coinbase, Circle or major publicly traded crypto miners. Robinhood’s presentation will therefore be the main corporate event involving a listed crypto-linked company.Crypto calendar: 30 developments to watch this weekSeptember 7: U.S. markets closed for Labor Day.September 7, 9:00 a.m. Turkey time: Upbit ends BONK trading.September 8, around 3:00 a.m.: Approximately $24.9 million worth of STABLE tokens unlock.September 8: China releases August foreign trade data.September 8–10: Boston Blockchain Week.September 9, 3:00 a.m.: Approximately $55.67 million worth of NAME tokens unlock.September 9, 3:00 a.m.: Approximately $1.46 million worth of MOVE tokens unlock.Around September 9: Fractal Bitcoin’s first halving.September 9–10: Stablecon USA.September 9–10: Crypto Expo Dubai.September 10: Web3 Warsaw.September 9, 8:50 p.m.: Robinhood presents at the Goldman Sachs conference.September 10, 3:00 a.m.: Approximately $3.49 million worth of DOS tokens unlock.September 10, 6:00 a.m.: Bitget closes 12 spot margin pairs.September 10, 3:15 p.m.: ECB interest rate decision; press conference at 3:45 p.m.September 10, 3:30 p.m.: U.S. August producer prices.September 10, 3:30 p.m.: U.S. weekly jobless claims.September 10, 5:00 p.m.: SEC meeting on preparations for 24-hour trading.September 10, 3:00 p.m.: Approximately $2.18 million worth of LINEA tokens unlock.September 10, 5:00 p.m.: Planned start of Harmony validator shutdowns.September 10, around 9:05 p.m.: MultiversX Supernova upgrade.September 11, 3:00 a.m.: Approximately $3.49 million worth of HOLO tokens unlock.September 11, 3:00 a.m.: Approximately $1.39 million worth of NRS tokens unlock.September 11, 1:00 p.m.: Bitget removes 19 spot trading pairs.September 11, 9:00 a.m.: U.K. July GDP, industrial production and trade data.September 11, 3:30 p.m.: U.S. August consumer inflation.September 11, 5:00 p.m.: Preliminary University of Michigan consumer sentiment data.September 12, 3:00 a.m.: Approximately 14.36 million APT tokens unlock.September 12, 9:00 a.m.: Approximately $34.68 million worth of PUMP tokens unlock.September 13, 3:00 a.m.: Approximately $11.78 million worth of UP tokens unlock.
Standard Chartered Launches Bitcoin and Ethereum Spot Trading in the UAE
Standard Chartered has started offering Bitcoin and Ethereum spot trading to institutional clients in the United Arab Emirates. The bank has become the first global systemically important bank to provide this service in the country.The new service is offered through Standard Chartered’s unit in the Dubai International Financial Centre. Eligible institutional clients can directly trade Bitcoin and Ether.The bank also said it is the only global bank in the region offering digital asset spot trading to institutional clients. The service is built on Standard Chartered’s existing crypto custody infrastructure.Standard Chartered integrates Bitcoin and Ethereum into its FX systemStandard Chartered’s new service supports BTC/USD and ETH/USD trading pairs. Transactions are carried out through the bank’s existing electronic trading channels.As a result, institutional clients do not need to use a separate platform for crypto trading. Bitcoin and Ether have been integrated into the same FX interfaces clients already use for foreign exchange transactions.The product is also structured as deliverable spot trading rather than a derivative. Once a transaction is completed, clients directly receive the relevant digital asset.On the custody side, clients are given flexibility. Institutions can continue using their preferred custody provider.Alternatively, they can use Standard Chartered’s own digital asset custody service. The bank launched this custody offering in the UAE in September 2024.Institutional crypto infrastructure expands in the UAEThe new service is provided through Standard Chartered DIFC, which is regulated by the Dubai Financial Services Authority. According to the bank, the UAE’s regulatory framework for digital assets is helping support broader institutional participation.Rola Abu Manneh, CEO of Standard Chartered UAE, Middle East and Pakistan, said the Bitcoin and Ether trading service expands the bank’s regulated digital asset offering.Abu Manneh also highlighted the integration of trading, custody and governance services within the same banking infrastructure. Through this structure, Standard Chartered aims to make access to crypto markets easier for institutional clients.The UAE has become an important hub for crypto companies and traditional financial institutions in recent years. Standard Chartered’s decision to expand spot trading services into the region further supports the development of this institutional infrastructure.Standard Chartered continues to expand its crypto servicesThe UAE is not Standard Chartered’s first market for Bitcoin and Ethereum spot trading. The bank began offering institutional clients spot BTC and ETH trading through its UK branch in July 2025.With that launch, Standard Chartered became the first global systemically important bank to offer deliverable Bitcoin and Ether spot trading. The UAE rollout now extends the existing service into the Middle East.The bank’s digital asset strategy is not limited to Bitcoin and Ethereum trading. Standard Chartered is also developing services in crypto custody, trading and tokenization.The company also remains active in digital asset infrastructure through ventures including Zodia Markets and Libeara. In July, Standard Chartered also launched a service with Circle that allows institutional clients to mint and redeem USDC.
Bitcoin Tops $81,000 as Short Positions Face Liquidations
Bitcoin surged back above $81,000 on the evening of September 3. BTC had been trading around $77,000 earlier in the day before gaining more than 4% within a few hours.Liquidations of short positions helped accelerate the move. On the macro side, comments from Federal Reserve Governor Christopher Waller suggesting that interest rates could remain unchanged also supported risk appetite.Bitcoin was trading at around $80,700 at the time of writing after briefly moving above $81,000. Why did Bitcoin suddenly rise?Bitcoin’s rally gained clear momentum after U.S. markets opened. Changes in the macroeconomic outlook emerged as one of the main drivers.Federal Reserve Governor Christopher Waller said he would support keeping interest rates unchanged at the September meeting if incoming data confirmed that inflation pressures were continuing to ease.Following his remarks, market expectations for a Fed rate hike declined. According to Reuters, the probability of a September rate increase fell from 59% to 46%.At the same time, the U.S. Dollar Index dropped 0.58% to 99.02. A weaker dollar and lower expectations for further rate increases supported risk assets, including Bitcoin.Wall Street also moved higher following the comments. The S&P 500 and Nasdaq gained around 1%, while crypto-linked stocks such as Coinbase and Strategy posted stronger advances.Spot Bitcoin ETF flows also drew attention. U.S. spot Bitcoin ETFs recorded around $101.1 million in net inflows on September 2. BlackRock’s IBIT alone attracted $115.4 million.Short liquidations accelerated the rallyBitcoin’s rapid multi-thousand-dollar move put pressure on short positions in the derivatives market.According to the latest market data released during the day, total crypto liquidations over the previous 24 hours reached around $239.3 million. Short positions accounted for approximately $135.7 million of that amount.Earlier data for Bitcoin showed that BTC liquidations over the previous 24 hours had reached $53.19 million. Around 51.34% of those positions were shorts.However, these figures were published before Bitcoin’s latest move toward $81,000. As a result, total short liquidations may have increased further following the rally.Short liquidations can amplify rapid upward price moves. As prices rise, leveraged bearish positions are forced to close. These liquidations create additional buying pressure and can accelerate the rally within a short period.A similar dynamic was seen during Bitcoin’s strong recovery in August. Billions of dollars in short positions were liquidated during the previous rally, making short covering one of the key factors behind the move.Bitcoin fell from $81,000 to $76,000 over the past weekBitcoin’s latest rally came after a highly volatile week.BTC closed at around $80,250 on August 27. A day later, the price climbed toward $81,400 but failed to hold its gains.Bitcoin then fell around 3% on August 28, closing near $77,800. Over the weekend, the price mostly traded between $77,000 and $79,000.Bitcoin ended August 31 at around $78,550. Selling pressure returned on September 1, pushing BTC down toward $77,400.During this period, Bitcoin reached one of its weekly lows near $76,400. This meant BTC had fallen roughly 6% from above $81,000 to the $76,000 area within only a few days.The picture changed again on September 3. BTC traded near $77,000 in the morning before moving above $78,000. Buying then accelerated during the U.S. session, pushing the price back above the $81,000 mark.Bitcoin’s net weekly change therefore appears limited at first glance. However, the cryptocurrency traded within a wide range of roughly $76,400 to above $81,000 during the same period.Bitcoin approaches the $82,000 resistance zoneBitcoin’s return above $80,000 has shifted attention toward the next resistance area.According to Reuters technical analysis, the $82,793 region stands out as an important resistance level. The area is also close to Bitcoin’s May peak.On-chain data had also indicated a concentration of BTC supply between $77,500 and $80,300. According to an analysis based on Bitfinex Alpha data, around 880,000 BTC changed hands within this price range.Whether Bitcoin can remain above $80,000 will therefore be important in the short term. The next major macroeconomic event for markets will be the U.S. employment report scheduled for September 4.The data could once again shift expectations ahead of the Fed’s September 15-16 meeting. As a result, the elevated volatility seen in Bitcoin over the past several hours could continue in the near term.
Fed Beige Book Warns on Inflation: Rate Risk Remains for Bitcoin
The US Federal Reserve’s latest Beige Book showed that the US economy continues to grow at a modest pace. At the same time, inflation pressures driven by energy and production costs have not fully disappeared.For the crypto market, the main takeaway from the report is once again the Fed’s rate path. A resilient economy and persistent price pressures may support the view that interest rates could stay higher for longer.The Fed’s next policy meeting is scheduled for September 15-16. Markets were pricing in roughly a 65% chance of a rate hike when the Beige Book was released.Fed sees modest economic growthAccording to the Beige Book, economic activity has increased modestly since early July. Ten of the Fed’s 12 districts reported growth.The other two districts said economic activity was unchanged. Consumer spending also moved slightly higher overall.However, consumers became more price sensitive. In particular, higher fuel prices and financing costs limited some areas of spending.The manufacturing sector strengthened across several districts. Orders tied to data center and defense investment supported growth.The labor market presented a more restrained picture. Overall employment increased only very slightly.Three Fed districts reported moderate employment growth. Four districts saw slight increases, while five reported no change.Why do inflation pressures matter?For the crypto market, the most important part of the report was the inflation outlook. The Fed said cost pressures remained strong, especially in manufacturing and construction.Energy, transportation and raw material prices continued to rise. Metals and petrochemical products also pushed business costs higher.The effects of tariffs were still being felt across many districts. Healthcare and insurance costs also added to company expenses.At the same time, rising consumer price sensitivity is limiting businesses. Some firms said they were unable to fully pass higher costs on to customers.The pace of price increases was unchanged in eight Fed districts. It slowed in three districts and accelerated in one.This creates a mixed picture for the Fed. Inflation pressures are still present, while economic activity has not weakened enough to clearly justify a softer policy stance.What does it mean for Bitcoin?Bitcoin and other crypto assets remain sensitive to changes in Fed policy. Higher rate expectations usually support the US dollar and Treasury yields, while reducing the appeal of risk assets.For that reason, the Beige Book’s inflation message may be read as a short-term caution signal for the crypto market. Still, the report alone does not guarantee a rate hike. Fed Chair Kevin Warsh has also recently emphasized inflation as a top priority. He said he wants to see greater confidence that price growth is moving toward the 2% target at a sufficient pace.From here, upcoming US data will be more decisive for market direction. In particular, employment and inflation figures could reshape rate expectations ahead of the Fed’s September 15-16 meeting.The Beige Book, for now, shows that the US economy is still expanding. At the same time, it suggests inflation pressures remain firm enough to keep the Fed from feeling fully comfortable.
ADP Employment in the US Slows to 38,000: What Does It Mean for Bitcoin?
Fresh employment data from the United States pointed to a slowdown in the labor market. According to ADP, private-sector employment increased by only 38,000 jobs in August.The market had expected an increase of 47,000. The July figure stood at 44,000. As a result, job growth missed expectations and also slowed compared with the previous month.Under normal conditions, weak employment data could be seen as supportive for risk assets such as Bitcoin. However, the current market backdrop is more complicated.The US labor market is slowingThe ADP National Employment Report showed that the US private sector created 38,000 new jobs in August.The figure had stood at 98,000 in June. Employment growth then slowed to 44,000 in July, before losing further momentum in August.Recent JOLTS data also showed that companies have become more cautious in hiring. In July, US hiring fell by 278,000, while job openings came in at 7.27 million.Layoffs, on the other hand, have remained low. That means the latest data point to a market where new hiring is slowing, rather than one facing a sharp employment crisis.How could weak ADP data affect Bitcoin?A weaker labor market could be positive for Bitcoin if it reduces the likelihood of the Federal Reserve tightening monetary policy further.Looser rate expectations usually put pressure on US Treasury yields and the dollar. Easier financial conditions can, in turn, create a more favorable liquidity backdrop for Bitcoin and other crypto assets.Still, the August ADP report alone may not be enough to change Fed expectations.Rising energy prices have revived inflation concerns in the United States. Brent crude climbed toward the $95 range, while the US 10-year Treasury yield moved above 4.8%. Expectations of another Fed rate hike have also increased in recent days.Bitcoin, meanwhile, was trading around $77,000 ahead of the ADP release. Despite the rise in global bond yields, the cryptocurrency has recently moved in a range between $76,800 and $81,600. For that reason, the impact of ADP data on Bitcoin should not be assessed in isolation. It makes more sense to read it together with Treasury yields, the dollar, and Fed expectations.The key data point for Bitcoin will come on FridayThe real test for the crypto market on the US employment front will come on Friday, September 4.The US Bureau of Labor Statistics will publish the August employment report at 8:30 a.m. ET. The report will include nonfarm payrolls, the unemployment rate, and wage growth.ADP private-sector data is usually followed as a leading indicator ahead of the official jobs report. However, the two datasets can diverge significantly from month to month.If Friday’s employment data also comes in notably weak, expectations for another Fed rate hike could ease. In that case, the reaction in Treasury yields and the dollar would become even more important for Bitcoin.A strong official jobs report, on the other hand, could reinforce expectations of tighter Fed policy, especially alongside high oil prices. That would likely keep macro pressure on the crypto market.
Strategy, Strive and BitMine Buy 6,403 BTC and 53,501 ETH
Strategy, Strive and BitMine expanded their cryptocurrency reserves in the final week of August. Strategy and Strive purchased a combined 6,403 BTC, while BitMine added 53,501 ETH to its Ethereum portfolio.Strategy and Strive spent a total of $512.7 million on their Bitcoin purchases. BitMine’s latest ETH acquisition was worth approximately $134 million based on the price cited in its announcement.The latest disclosures show that publicly traded crypto treasury companies have returned to buying. Strategy also combined its purchase with common stock sales, cash management and STRC share repurchases.Strategy bought Bitcoin after a 10-week pauseAccording to figures disclosed by Strategy, the company purchased 4,603 BTC for $369.7 million between August 24 and August 30. The average purchase price was $80,318 per Bitcoin, including fees and expenses.The transaction marked Strategy’s first Bitcoin purchase in approximately 10 weeks. Its total holdings consequently increased to 845,050 BTC.The company’s Bitcoin portfolio has an aggregate purchase cost of $63.73 billion. Its average purchase price across the entire portfolio stands at $75,412 per Bitcoin.Strategy funded the purchase through sales of its Class A MSTR common stock. The company sold 4.53 million MSTR shares during the week, generating net proceeds of $602.8 million.It allocated $369.7 million of the proceeds to the Bitcoin purchase. Strategy also repurchased 1.56 million STRC preferred shares for $151.8 million.Another $50.7 million funded STRC dividend payments. The company transferred the remaining $30 million to its more flexible USD Cash account.Strategy’s USD Cash balance increased to $1.61 billion. Its USD Reserve, which supports preferred stock dividends and debt interest payments, remained at $5.1 billion.Strive purchased 1,800 BTCStrive announced that it purchased 1,800 BTC for $143 million during the same week. The average purchase price was $79,431 per Bitcoin, including fees and expenses.According to figures shared by Strive CEO Matt Cole, the company’s total Bitcoin holdings increased from 21,356 BTC to 23,156 BTC. Strive therefore expanded its reserves by approximately 8.4 percent in one week.The latest acquisition strengthened Strive’s position among the largest publicly traded corporate Bitcoin holders. The company ranks sixth in the Bitcoin Treasuries list with 23,156 BTC. Strategy and Strive added a combined 6,403 BTC to their reserves through their latest purchases. The two companies spent a total of $512.7 million on the transactions.BitMine added 53,501 ETHBitMine also expanded its Ethereum reserves during the same period. The company announced that it purchased 53,501 ETH last week.According to BitMine’s weekly update, its total holdings reached 5,901,112 ETH. This amount represents approximately 4.9 percent of Ethereum’s circulating supply.BitMine has now completed 98 percent of its goal to acquire 5 percent of the Ethereum supply. The company has also purchased ETH for 65 consecutive weeks since launching its treasury strategy in June 2025.BitMine currently uses 5.07 million ETH in staking systems. This amount represents approximately 86 percent of its total Ethereum reserves.The combined value of the company’s crypto assets, cash, marketable securities and other investments reached $15.6 billion. Its portfolio also includes 211 BTC and $541 million in cash and marketable securities.Share sales will also remain in focusThe three announcements show that corporate cryptocurrency purchases accelerated at the end of August. Strategy and Strive remain focused on Bitcoin, while BitMine continues accumulating Ethereum and generating staking income.However, the funding sources behind these purchases remain important. Common stock sales can create dilution for existing shareholders even when a company’s total crypto reserves grow.Investors may therefore need to look beyond the total amount of BTC or ETH held. Crypto assets per share, cash reserves and financing costs will also influence the performance of these companies.
Crypto Week Ahead: 25 Events to Watch as U.S. Jobs Data Takes Center Stage
Bitcoin started the Aug. 31-Sept. 6 week at around $77,900. Expectations that the Federal Reserve could raise interest rates in September and escalating tensions in the Middle East pushed the market into a more cautious mood following last week’s gains. The main focus of the week will be the U.S. employment report due Friday. On the crypto side, Russia’s new law, Mina’s Mesa upgrade, delisting decisions from Binance and BitMEX, and supply developments involving SUI, EIGEN, ENA and HYPE will be closely watched.U.S. employment data could reshape Fed expectationsFed Chair Kevin Warsh’s Jackson Hole speech pushed the probability of a September interest rate hike to around 60%. Warsh said inflation remained high and further tightening could be needed to restore price stability.The first major test of this pricing will arrive on Tuesday, Sept. 1. The U.S. Bureau of Labor Statistics will release July’s JOLTS job openings data at 5:00 p.m. Turkey time.The market expects the number of job openings to remain near 7.4 million. The ISM manufacturing PMI, scheduled for release at the same time, is expected to come in at 55.1.The ADP private-sector employment report will be released on Wednesday, Sept. 2, at 3:15 p.m. Turkey time. ADP’s official calendar confirms the date, while market expectations point to an increase of 45,000 jobs.The Fed will also publish its Beige Book report on Wednesday at 9:00 p.m. Turkey time. The report will offer insight into employment, wages, prices and how businesses assess the economic outlook.Weekly initial jobless claims will be released on Thursday at 3:30 p.m. Turkey time. Economists expect 205,000 applications, compared with the previous reading of 203,000.The ISM services PMI will follow at 5:00 p.m. Turkey time. The index is expected to rise from 54.1 to 54.4.The strongest market reaction of the week could form around Friday’s nonfarm payrolls report, scheduled for 3:30 p.m. Turkey time. According to the BLS calendar, the report will cover employment and wage changes in August.The market expects the U.S. economy to have added 50,000 jobs. Employment declined by 23,000 in July.The unemployment rate is expected to remain at 4.1%. Average hourly earnings are forecast to increase by 0.2% monthly and 3% annually.Strong employment and wage figures could increase the likelihood of a rate hike at the Sept. 15-16 FOMC meeting. A weaker result could strengthen expectations that the Fed will remain on hold despite Warsh’s inflation warnings.Russia’s sweeping crypto law takes effectRussia’s new regulations for the digital currency market will take effect on Sept. 1. According to the Central Bank of Russia, both qualified and non-qualified investors will be able to trade cryptocurrencies through licensed intermediaries.Annual purchases by non-qualified investors will be limited to 300,000 rubles at each intermediary. These users will also have to pass a suitability test before trading.Qualified investors will also be subject to testing, although they will not face limits on assets or transaction amounts. The regulation brings foreign stablecoins under Russia’s cryptocurrency rules as well.Licensed crypto exchanges and digital asset custodians will operate under the new system. The law does not allow cryptocurrencies to be used for payments for goods and services within Russia.Exporters and importers will be able to use cryptocurrencies for cross-border payments. Existing companies have until July 1, 2027, to obtain licenses and bring their operations into compliance with the new rules.Eurozone inflation and oil prices in focusEurostat will release the eurozone’s preliminary August inflation data on Tuesday, Sept. 1, at noon Turkey time. Eurostat’s previous report put July inflation at 2.9%.Market forecasts for August are concentrated between 3.2% and 3.3%. Rising energy costs are expected to be the main factor pushing headline inflation higher.Brent crude rose by more than 2% on Monday, approaching $90.60. U.S. attacks on Iran and Tehran’s response renewed concerns over global supplies.Persistently high oil prices could increase interest rate pressure on the Fed and the European Central Bank. This environment may affect risk assets, including Bitcoin, through the U.S. dollar and government bond yields.The meeting of G20 finance ministers and central bank governors is also taking place in Asheville from Aug. 31 to Sept. 1. According to the U.S. Treasury’s program, the agenda includes global growth, trade imbalances, inflation, public debt and the war with Iran.Mina network to activate Mesa upgradeMina Protocol will conduct its Mesa mainnet upgrade on Thursday, Sept. 3. According to the project’s detailed migration schedule, the network will stop accepting transactions at 1:00 p.m. Turkey time.Block production is expected to pause temporarily at 6:00 p.m. The Mesa package will be released at 7:30 p.m., with the first Mesa block expected at 9:00 p.m.Mesa will increase zkApp capacity and shorten block intervals. The upgrade will also introduce an automatic upgrade mechanism designed to simplify future protocol transitions.Existing zkApps will need to update their verification keys using o1js 3.0. Exchanges may suspend MINA deposits and withdrawals while the network is offline.The Mina team will make its final “proceed or postpone” decision on Aug. 31. If an insufficient number of validators upgrade to the required version, the project may set a new date.Zilliqa is also expected to conduct a block-height-based hard fork on Sept. 2. The estimated activation time is 3:58 p.m. Turkey time, although this could change depending on the speed of block production.The update aims to transfer some older wallet balances frozen due to a security issue in the Ledger application to new addresses. Zilliqa’s incident page shows that transactions on the legacy network have been temporarily suspended.Binance and BitMEX to implement delistingsBitMEX will delist 11 perpetual futures contracts on Wednesday, Sept. 2, at 3:00 p.m. Turkey time. The exchange will close open contracts through early settlement at the same time.BitMEX’s announcement shows that the decision applies only to derivatives contracts. Users should review the automatic settlement conditions and reference price calculations.Binance will end spot trading for ICON, Secret and Storj on Thursday, Sept. 3, at 6:00 a.m. Turkey time. According to the official announcement, all spot pairs involving ICX, SCRT and STORJ will be removed.Open spot orders involving these assets will be canceled at the same time. Binance will stop crediting deposits made after 6:00 a.m. Turkey time on Sept. 4.Withdrawals will remain available until 6:00 a.m. Turkey time on Nov. 3. The exchange said it may convert any remaining tokens into stablecoins after the deadline, although the conversion is not guaranteed.ENA, SUI, EIGEN and HYPE supply set to expandSept. 1 stands out as the busiest day on this week’s token calendar. All dollar figures are approximate because their values will change with spot prices.Sui will unlock approximately 13.53 million SUI on Sept. 1. The increase represents 0.33% of the circulating supply and is worth around $9.6 million at current prices.EigenCloud will release 36.82 million EIGEN on the same day. The tokens are worth approximately $6.9 million and represent 5.48% of the circulating supply.Ethena’s broader tracked supply schedule includes 275 million ENA. According to Tokenomics.com, the allocation is worth around $40.4 million and covers distributions to investors, the team, the community and the foundation.IOTA will make 12.37 million tokens available for circulation on Sept. 2. The current unlock schedule shows that the tokens, worth approximately $500,000, will be distributed among the IOTA DLT Foundation, the IOTA Foundation and the Tangle Ecosystem Association.The week’s largest potential supply event by dollar value will take place on Hyperliquid. Approximately 9.92 million HYPE will be unlocked on Sept. 6 under the monthly allocation schedule for core contributors.Based on a HYPE price of around $80.60, the scheduled amount is worth nearly $800 million. However, the full amount is not expected to be transferred on the same day.In previous months, there was a large gap between the amount of vested HYPE and the number of tokens actually claimed. The amount reaching the market could therefore remain well below the theoretical value of approximately $800 million.NFT.NYC and Solana events to beginNFT.NYC will take place at the Edison Ballroom in New York from Sept. 1 to Sept. 3. According to the event’s official website, the program is divided into 12 categories, including digital art, gaming, infrastructure, brands and on-chain finance.Solana Startup Village will be held in Amsterdam from Aug. 31 to Sept. 5. The first three days of the program will feature workshops focused on DeFi, security and privacy.The Common S3nse conference and hackathon will take place on Sept. 4 and Sept. 5 as part of Cypherpunk Week in Amsterdam. The event will focus on privacy technologies and decentralized infrastructure.There are no confirmed large-scale earnings reports from crypto companies or high-profile token launches scheduled for the week. U.S. economic data, oil prices, Russia’s regulations and the supply schedules of existing tokens will therefore carry greater weight.This week’s 25-event crypto calendarAug. 31-Sept. 1: G20 finance ministers and central bank governors meetingAug. 31-Sept. 5: Solana Startup Village AmsterdamSept. 1: Russia’s sweeping crypto law takes effectSept. 1, 3:00 a.m. Turkey time: SUI token unlockSept. 1: EIGEN token unlockSept. 1: ENA supply eventSept. 1, noon Turkey time: Eurozone preliminary August inflationSept. 1-3: NFT.NYC 2026Sept. 1, 5:00 p.m. Turkey time: U.S. JOLTS job openingsSept. 1, 5:00 p.m. Turkey time: U.S. ISM manufacturing PMISept. 2, 3:15 p.m. Turkey time: U.S. ADP private-sector employmentSept. 2: IOTA token unlockSept. 2, 3:00 p.m. Turkey time: BitMEX delists 11 perpetual futures contractsSept. 2, around 3:58 p.m. Turkey time: Zilliqa hard forkSept. 2, 5:00 p.m. Turkey time: U.S. factory ordersSept. 2, 9:00 p.m. Turkey time: Fed Beige BookSept. 3, 6:00 a.m. Turkey time: Binance ends trading for ICX, SCRT and STORJSept. 3, 1:00-9:00 p.m. Turkey time: Mina Mesa mainnet upgradeSept. 3, 3:30 p.m. Turkey time: U.S. weekly initial jobless claimsSept. 3, 3:30 p.m. Turkey time: U.S. July trade balanceSept. 3, 3:30 p.m. Turkey time: Fed Governor Christopher Waller speaksSept. 3, 5:00 p.m. Turkey time: U.S. ISM services PMISept. 4, 3:30 p.m. Turkey time: U.S. nonfarm payrolls, unemployment and wage dataSept. 4-5: Common S3nse conference and hackathonSept. 6: Planned unlock of approximately 9.92 million HYPE
Bitcoin Holds Near $80K Ahead of Warsh’s Jackson Hole Speech
Bitcoin is holding near the $80,000 mark ahead of Federal Reserve Chair Kevin Warsh’s first Jackson Hole speech. The altcoin market is also trading higher, led by a strong rally in Solana.Warsh will speak on Friday, August 28, at 10 a.m. ET. Markets will watch his comments on interest rates and the Fed’s approach to the Treasury market.The speech comes after the U.S. Treasury expanded its long-term bond-buyback program. The Fed’s response could affect crypto prices through movements in the dollar and Treasury yields.Why Warsh’s speech matters for BitcoinAccording to the Federal Reserve’s official calendar, Warsh will deliver keynote remarks at the Jackson Hole Economic Policy Symposium. This will be his first Jackson Hole speech since becoming Fed Chair in May.Markets expect Warsh to provide signals about the future path of interest rates. His comments on balance sheet policy and long-term Treasury yields could prove more significant.The U.S. Treasury announced an expansion of its long-term bond buybacks on August 19. The decision came as the 30-year Treasury yield approached its highest level since 2007.According to the Treasury Department, the maximum size of each operation will rise from $2 billion to at least $4 billion. The higher amounts will apply from September 9 through November 4.The program covers nominal coupon securities in the 10-to-20-year and 20-to-30-year maturity sectors. The Treasury aims to improve market liquidity for older and less actively traded securities.Treasury buybacks are separate from QETreasury buybacks do not directly represent quantitative easing. The program does not expand the Fed’s balance sheet or create new central bank reserves.Investors still interpreted the decision as an attempt to limit long-term borrowing costs. Expectations strengthened around the possibility that the Fed could eventually support the bond market.Fidelity Director of Global Macro Jurrien Timmer said markets were beginning to price in the risk of fiscal dominance. He argued that the Treasury may need to expand the program further to keep yields under control.Such a scenario could increase pressure on the Fed to support the operations. Timmer said this development would likely weaken the dollar while supporting gold and Bitcoin.Bitcoin trades close to $80,000Bitcoin was trading at around $79,979 at the time of writing. BTC gained 1.42% over the previous 24 hours and 6.09% over seven days.Bitcoin’s market capitalization exceeded $1.6 trillion. Its daily trading volume stood at approximately $37.9 billion.Demand for spot Bitcoin ETFs also supported the price. Market data showed that U.S. funds recorded $2.8 billion in net inflows across eight consecutive trading sessions.Bitcoin climbed as high as $81,280 during overnight trading. Profit-taking ahead of Warsh’s speech later pulled the price back toward $80,000.Solana leads the altcoin marketSolana recorded the strongest move among major altcoins. SOL gained 6.40% in 24 hours to trade at $107.64.Solana’s seven-day gain reached 19.61%. HYPE traded at $83.31 after rising 14.56% over the same period.XRP advanced 1.52% to $1.43. The token gained 9.59% during the past seven days. BNB traded at $712.65, while Ethereum changed hands near $2,501. BNB gained 6.71% for the week, compared with Ethereum’s 5.67% increase.Dogecoin rose 1.44% to approximately $0.088. Zcash stood out among major altcoins with a weekly gain of 32.51%.Warsh’s remarks could create two market scenariosWarsh could weaken market expectations by describing the Treasury buybacks as routine liquidity operations. A clear statement ruling out Fed participation may push the dollar and long-term yields higher.Under this scenario, profit-taking around Bitcoin’s $80,000 level could accelerate. Altcoins may experience larger price swings because of their higher volatility.Leaving room for possible coordination with the Treasury would create a different outlook. Expectations for lower yields and a weaker dollar could extend Bitcoin’s rally.BNY analysts do not expect Warsh to offer direct forward guidance. They believe his speech may focus on the Fed’s reform agenda and balance sheet policy.
Bitcoin and Ethereum Outline Two Separate Quantum Protection Plans
Bitcoin and Ethereum researchers have introduced separate proposals addressing the risks posed by quantum computers. Bitcoin’s SHRINCS system offers quantum-resistant signatures while limiting the loss of network capacity.The Ethereum draft would allow validators to deposit funds using quantum-resistant keys. The network could eventually stop accepting new validators using the existing BLS format.Both projects remain at an early stage. They require technical reviews and community support before either network can adopt them.SHRINCS proposed for Bitcoin transactionsBlockstream researchers Jonas Nick and Mikhail Kudinov published the SHRINCS proposal on August 27. The system aims to protect Bitcoin transactions against quantum attacks.Bitcoin uses digital signatures based on elliptic-curve cryptography to prove ownership. Users can spend their bitcoin without revealing their private keys.A sufficiently powerful quantum computer could break this protection using Shor’s algorithm. An attacker could calculate a private key from a public key visible onchain.The attacker could then forge a signature and transfer the bitcoin to another address. The risk primarily concerns addresses whose public keys have already appeared on the blockchain.Older address formats and wallets that have previously made transactions fall into this category. The estimated 1.1 million BTC associated with Satoshi Nakamoto may also face this risk.SHRINCS limits the loss of network capacityLarge data requirements create one of the main problems for quantum-resistant signatures. Some systems standardized by the U.S. National Institute of Standards and Technology are dozens of times larger than current Bitcoin signatures.Larger signatures leave less room for transactions inside Bitcoin blocks. This reduces the number of transfers the network can process each second.Blockstream estimates Bitcoin could process about 6.5 transactions per second using only Schnorr signatures. That figure could fall to 0.36 transactions with the NIST-standardized SLH-DSA system.SHRINCS aims to keep capacity at approximately three transactions per second. Its signatures start at 324 bytes and grow by around 16 bytes with each key use.The proposal’s 580-byte configuration can support roughly three transactions per second. Bitcoin’s existing Schnorr signatures are 64 bytes.Although SHRINCS signatures start at about five times the size, they do not consume five times more block capacity. SegWit applies a weight discount to the transaction section containing signature data.The system also relies on SHA-256, which Bitcoin already uses in mining. Its security therefore does not depend on an entirely new mathematical assumption.SHRINCS is not ready for productionSHRINCS creates a fresh, one-time key for every transaction signature. Wallets must accurately track which keys they have already used.Records must remain synchronized across phones, hardware wallets and backups. Restoring an older wallet backup could complicate key management.The researchers have not completed a formal security proof for the system. The reference software has also not undergone a comprehensive security audit.Blockstream tested SHRINCS-signed transactions on the Liquid network in March. Adding the system to Bitcoin would require a backward-compatible soft fork.Ethereum prepares to change validator keysEthereum researchers published a separate draft one day before the Bitcoin proposal. It would rebuild the deposit contract through which validators join the network.Validators lock ETH to help secure Ethereum and confirm transactions. The current contract accepts only a cryptographic key format known as BLS.BLS can combine hundreds of thousands of signatures into a single signature. This feature helps keep Ethereum’s consensus costs manageable.BLS also relies on elliptic-curve mathematics. A sufficiently powerful quantum computer could potentially forge a validator’s signature.Ethereum’s existing contract hard-codes the size of BLS keys. The network therefore cannot currently accept quantum-resistant keys of different sizes.The draft would allow the deposit contract to register different key types. Each deposit would carry a tag identifying its cryptographic system.BLS keys would use tag zero. Ethereum developers could later introduce additional tags for quantum-resistant systems.New BLS deposits could be permanently disabledIf Ethereum adopts the proposal, BLS keys would remain operational initially. Alternative signature systems could register through the same contract.A later upgrade could permanently disable new deposits using BLS keys. Existing BLS validators would remain active, while new participants would need different keys.Approximately 42.4 million ETH is currently staked on Ethereum. These assets are worth about $104 billion at current prices.The draft would make the deposit contract more flexible, but it would not complete the migration. Ethereum would also need a separate upgrade explaining how to verify the new signatures.EIP-8141, currently under consideration for the Hegotá upgrade, proposes a similar transition for user accounts. It would allow accounts to change their transaction authorization system without moving to a new address.The Ethereum Foundation aims to complete the core protocol changes around 2029. Bitcoin currently has no confirmed implementation timeline for SHRINCS.
