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Bitcoin remains in a bull market, but a short-term correction may be nearing as short-term traders’ unrealized profit margins have climbed to their highest level in 21 months, according to a CryptoQuant assessment cited by The Block. CryptoQuant head of research Julio Moreno said in a report that short-term traders’ on-chain unrealized profit margins recently rose to 33%, the highest since December 2024. Historically, margins at that level have encouraged profit-taking, Moreno said. On Sept. 22, Bitcoin holders realized profits on 25,700 BTC, the largest daily amount so far in 2026, he added. Moreno also said Bitcoin demand is slowing in both spot and futures markets, and the uptrend may be difficult to sustain without fresh demand. While the bull market remains intact, signs of fatigue are emerging, he said, pointing to elevated profit margins, the largest profit-taking of 2026, explosive inflows into altcoins, and cooling demand as signals of a possible short-term correction. If Bitcoin enters a pullback, Moreno said the 365-day moving average near $80K would serve as the first support level. Additional support could come from the 200-day moving average near $71K and the on-chain traders’ realized price near $67K. As long as those support levels hold, such a correction would be a healthy pullback within an early-stage bull market, Moreno added.

Federal Reserve Governor Christopher Waller, speaking at the Sibos conference, said AI, stablecoins and tokenization will be central to the future of payments, according to Crypto Briefing. Waller said there was no reason to fear new technologies or payment service providers, adding that distributed ledger technology, or DLT, and AI are tools that can address problems in global transactions. He also said DLT and tokenization have the potential to make payment systems faster and more transparent, while smart contracts that execute automatically when certain conditions are met could largely eliminate the manual reconciliation work that slows inter-institutional settlement.

Coinbase announced the addition of CT spot trading.

El Salvador’s government denied a Bloomberg report that it is building Sivar, an app designed to support remittances using dollar-pegged stablecoins. The government said it has no plans to launch or operate an app for Bitcoin, cryptocurrency, or stablecoin remittances.

The Ethereum Foundation said it plans to carry out the Glamsterdam upgrade on Sep. 6 on Sepolia. The upgrade aims to improve block creation, state growth and execution limits, while laying the groundwork for expanding Layer 1 capacity.

Whale addresses holding between 1,000 and 10,000 BTC added 41,025 BTC over the past 10 days, according to Santiment on X. Their combined holdings reached 13.64 million BTC, or 67.93% of total supply, marking the highest level since the rally in mid-August. By contrast, holdings among small-scale investors with less than 0.01 BTC showed little change. Santiment said the current pattern of whale accumulation and stagnant retail positioning is positive, but does not guarantee further price gains.

Prediction market platform Kalshi is in late-stage talks to raise $1 billion at a $40 billion valuation, Reuters reported. Tiger Global and Dragoneer are among the investors said to be discussing participation. The valuation would mark nearly a doubling from $22 billion in May in about four months.

U.S. crypto mining firm Riot Platforms (NASDAQ: RIOT) has fully repaid its $200 million Bitcoin-backed credit facility from Coinbase Credit and terminated the agreement, Bitcoin News reported. Riot repaid all principal and accrued interest, with no early termination fee. The loan carried a 6.15% interest rate after an amendment to the agreement in April. As of June 30, Riot had pledged 5,821 BTC as collateral out of its 11,380 BTC holdings, valued at about $340.7 million at the time, and the repayment has released that collateral.

A survey of U.S. banks commissioned by digital asset platform Uphold and conducted by American Banker found 75% of respondents are pursuing blockchain-based financial programs. Of those, 22% have already launched related projects or are expanding them, while 53% are piloting or reviewing specific use cases. The survey also found 66% have allocated budgets to build digital asset infrastructure, and 54% have issued requests for proposals (RFPs) to select related companies and partners. Key use cases included digital asset wallets and custody at 72%, digital asset trading and holding services for asset management at 70%, and stablecoin-based institutional payments at 64%.

Demand is growing in the options market for call options betting on Bitcoin rising above $90,000 while BTC trades around $83,238, Walter Bloomberg said. Walter Bloomberg said calls with strike prices of $95,000 and $100,000 are also seeing strong demand, while institutional fund flows appear to be improving. Spot Bitcoin ETFs posted net inflows for eight straight trading sessions, including $31 million yesterday. Despite weaker short-term sentiment toward BTC, Walter Bloomberg said the options market still reflects expectations for further upside.

Bitget CEO Gracy Chen said Chen is not optimistic about the chances of freezing and recovering funds from a recent $388 million hack, according to Cointelegraph. Citing Bybit’s $1.5 billion hack last year, Chen said that after about a year, only around 3.5% of the stolen funds had been frozen, and none of that had actually been recovered. Bitget is offering separate 5% bounties to parties that help freeze and recover the stolen funds.

Blockchain quantum-resistant security infrastructure firm Project Eleven has acquired post-quantum cryptography company Riva Labs, according to Crypto Briefing. The deal value was not disclosed.

Whale Alert reported that 5,035 BTC has been transferred from Coinbase Institutional to an unknown wallet. The transaction is valued at about $419 million.

A whale wallet known as qianbaidu.eth deposited 25.75 million USDT to Binance and withdrew 7,500 ETH worth about $20.5 million over 30 minutes, according to on-chain analytics firm Hupzy, formerly Spot On Chain. A CoinNess analysis said the move appears to reflect active accumulation rather than a simple asset transfer, as the stablecoins were converted into spot ETH and then moved to a self-custodied wallet. Lower ETH supply on exchanges can also reduce sell-side liquidity, the analysis added.

Crypto exchange Gemini has launched a “Politics Hub” within its prediction market platform ahead of the U.S. midterm elections in November, according to Crypto Briefing. The hub allows users to view and track in real time major election-related prediction markets in one place, including races for the Senate, House of Representatives, and governorships.

Aztec Labs has relaunched zk.money, the self-custody privacy wallet it shut down in 2023, after three years, The Block reported. The new version runs on Aztec’s Ethereum layer-two network and keeps users’ balances, transfer amounts and counterparty details from being disclosed on the public ledger. The previous zk.money launched in 2021 and processed more than $100 million in transactions across over 75,000 wallets, but operations were halted amid scalability issues.

Jack Yi, founder of crypto-focused investment firm LD Capital, said on X that the market is currently in a pullback phase within a daily uptrend channel and is not yet at a stage that would signal a trend reversal. Yi added that the recent short-term false breakout was a typical bull trap. Yi said $82,000 is the key correction level. If BTC holds that level, the pullback may end and the uptrend may resume, but if support fails, a larger correction could follow. Yi added that investors should stay patient until new opportunities are confirmed rather than chasing the last stretch of gains.

The Bitcoin market is seeing an unusually high share of futures trading relative to spot volume, CryptoQuant analyst Darkfost said, indicating prices are currently being driven largely by derivatives activity rather than spot demand. Darkfost said the ratio on Binance stands at about 0.12, implying nearly 90% of the market is being driven by futures trading. In other words, for every $1 invested in spot, roughly $9 is flowing into futures, marking a significant gap. At the same time, open interest is falling. Binance open interest declined over the past week to $9.2 billion from $10.6 billion, but the ratio has not improved because spot demand remains weak, Darkfost said. Darkfost added bull markets often begin with a recovery in speculative demand, with speculative capital entering first to ignite an upswing and spot demand later helping sustain the rally. For now, however, spot demand is still lacking, and if it does not follow, the current rebound, led mainly by the futures market, could quickly become unstable.

According to CoinNess market monitoring, BTC has fallen below $83,000. BTC is trading at $82,973.34 on the Binance USDT market.

The U.S. Commodity Futures Trading Commission expressed concern over false advertising in prediction markets and said it is investigating incentive programs tied to those markets.

Veteran trader Peter Brandt has identified XLM as a cryptocurrency worth watching over the next several years, according to U.Today. Sharing XLM’s long-term monthly chart on X, Brandt said if investors want to bet on a low-probability, high-return "long shot" over the next few years, XLM is a solid option.

Coinbase said users can instantly borrow up to $100,000 against HYPE and ZEC without selling the underlying assets. The service runs on MORPHO and is available across the U.S., excluding New York state.

In a report, Pantera Capital found 81% of asset value in the tokenized U.S. Treasury market, now worth more than $12 billion, is being held rather than traded, according to Crypto Briefing. The report examined 593 tokenized assets across 11 sectors and said the overall tokenized asset market grew 60% to around $321 billion from $201 billion in 2024. It added that 77.6% of the assets assessed were real-world or traditional financial assets wrapped on blockchain networks, while fully onchain-native tokens accounted for just 2.7%. Stablecoins stood at about $293 billion, representing 91.6% of the total market.

HANetf has launched what it described as the world’s first Bitcoin exchange-traded product with a euro currency hedge, The Wall Street Journal reported. Because Bitcoin is typically priced in U.S. dollars, European investors are generally exposed not only to BTC price swings but also to moves in the dollar-euro exchange rate when they invest. The product is designed to reduce that dollar currency risk. HANetf said it has recently seen demand among European clients to cut dollar exposure.

Robinhood Crypto said on X it will waive gas fees for swaps worth more than $0.50 on Robinhood Chain through Robinhood Wallet. The offer will remain in place through Dec. 31.