Ansem: Retail investor activity has rebounded significantly for the first time in years, with Q3 likely marking the bottom of the crypto market.

Crypto journalist Eleanor Terrett reported that the head of the U.S. Office of the Comptroller of the Currency (OCC) told attendees at Wyoming’s SALT Conference that approvals for digital asset-related charters have surged eightfold compared to the Biden administration, labeling the previous administration’s attempt to “eliminate risk” as “extremely short-sighted.” The OCC expects to finalize rules tied to the GENIUS Act by November, with adjustments to be made based on feedback from the crypto industry.

According to market data from BIT (bit.com), U.S. crypto-related stocks saw their gains expand, with American Bitcoin (ABTC) rising 17.87%, Strategy (MSTR) up 14.55%, BitMine (BMNR) increasing 14.09%, Bullish (BLSH) gaining 13.81%, SharpLink (SBET) rising 12.73%, Coinbase (COIN) up 12.68%, Circle (CRCL) gaining 12.37%, Gemini (GEMI) increasing 12.01%, MARA rising 9.54%, and Robinhood (HOOD) up 8.01%.

Coinbase announced it is introducing perpetual contract trading to Base App via Hyperliquid. Eligible users can trade over 290 perpetual contract markets, with up to 50x leverage, covering Bitcoin, Ethereum, and markets linked to stocks and commodities. Chintan Turakhia, Coinbase’s head of engineering, noted that perpetual contracts currently account for roughly 75% of total crypto market trading volume, and are the most requested feature among Base App’s power users. Trades will be executed within Base App, though Hyperliquid handles the actual settlement, so users do not need to leave their existing wallets. Coinbase added that maximum leverage varies per asset, and positions may be liquidated if losses exceed a set threshold. The product is not currently accessible to users in the U.S., U.K., Canada, and other jurisdictions that restrict leveraged crypto derivatives trading. The launch also signals a shift in Base App’s product focus, moving away from its previous emphasis on social and creator features toward trading, payments, and AI Agents. Base founder Jesse Pollak previously acknowledged that social and creator tokens failed to deliver the expected user growth, while prediction markets, perpetual contracts, and stablecoins have emerged as stronger drivers of adoption.

Tech Charts market technical analyst Aksel Kibar notes that Bitcoin’s (BTC) daily chart has been forming a bullish inverse head and shoulders pattern since its June low. The pattern’s neckline resistance sits at roughly $66,600. Kibar states that a clear breakout and hold above this neckline would confirm the pattern, with a target price of $76,000 calculated from the distance between the pattern’s head and neckline. This formation, which has been developing since early June, could signal a potential bottom for the current bear market following Bitcoin’s $126,000 peak last October. Traders are now monitoring whether the pattern will complete its confirmation and spark a new uptrend.

Per monitoring from TradingBeats (formerly Hyperinsight), pension-usdt.eth — the largest Ethereum short whale on Hyperliquid — has seen its unrealized loss on ETH short positions expand to $19.17 million. The address opened a 3x leveraged ETH short position at $1,700. Despite the massive unrealized loss, the position’s value still stands at $104 million, with a liquidation price of $2,189. It has earned $1.04 million in funding fees. Notably, pension-usdt.eth has not executed any trades in nearly two months, yet its win rate on closed trades hits 85.45%. Its historical trading profit on BTC amounts to $13 million, while its ETH trading profit is as high as $27.48 million.

In just the past hour, $1.13B in shorts were liquidated! 0x8c96 had his entire 1,800 $BTC($117M) short liquidated today. 0x431f was completely wiped out, with 677 $BTC ($44M) liquidated. 0x004e was completely wiped out, with 500 $BTC ($33M) liquidated.