Bitcoin (BTC) — Onchain News & Whale Tracking

Analysis: The Bitcoin stablecoin purchase demand indicator once surged to 3.74, approaching the November 2024 high.

CryptoQuant analyst Zizcrypto noted in a recent post that the 90-day reading of the Stablecoin Supply Ratio (SSR) Oscillator had surged rapidly into the "strong stablecoin buying demand" territory, hitting 3.74 on August 21—near the ~4.00 peak seen in November 2024. The indicator has since begun to pull back, with BTC currently trading around $77,000. This sharp rebound in the stablecoin demand metric coincided with a robust liquidity pulse that hit the market earlier. However, the key focus now is not the short-term spike itself, but whether this demand signal will hold. If the 90-day SSR Oscillator continues to decline and falls back below the "high zone", its confirmation of sustained growth in stablecoin buying demand will weaken. The current shift appears more like a temporary liquidity pulse rather than a fully formed, sustained demand expansion cycle. While stablecoin-side demand signals have indeed strengthened notably recently, the 90-day oscillator has already cooled from its 3.74 peak. If it fails to remain in the "high zone" moving forward, it remains unclear whether this round of liquidity improvement can translate into more lasting demand growth.

Standard Chartered Expands Crypto Footprint: Launches Institutional-Grade Bitcoin and Ethereum Spot Trading Services in UAE

Standard Chartered has become the first global systemically important bank (G-SIB) to offer Bitcoin (BTC) and Ethereum (ETH) spot trading services in the United Arab Emirates (UAE) for institutional clients, according to a Reuters report. The new service allows eligible institutional clients to conduct deliverable BTC and ETH spot trades via the bank’s existing electronic trading channels, with access to its foreign exchange interface for crypto asset transactions. This expansion builds on Standard Chartered’s digital asset custody operations: the lender launched digital asset custody services in the UAE in September 2024, and first rolled out BTC and ETH spot trading for institutional clients via its UK branch in July 2025. Clients may select custodians—including Standard Chartered’s own digital asset custody solution—for trade settlement.

Bernstein projects IREN’s AI cloud business will reach $17 billion in annual revenue by 2030, and the company may cease Bitcoin mining by the end of 2026.

Beating AI News: As its AI cloud business expands, Bitcoin mining firm IREN is projected to generate around $17 billion in annual AI cloud revenue by 2030, with its cloud computing capacity set to expand to approximately 2GW. Bernstein forecasts that IREN will phase out its Bitcoin mining operations by the end of 2026. Meanwhile, the price of IREN’s three-year AI cloud contracts has risen by roughly 125% since last November, reflecting sustained growth in AI computing power demand and related pricing power.

Analysis: Bitcoin may be shifting from a 4-year cycle to a 6 to 8-year cycle.

On-chain analyst Willy Woo has published a post noting that Bitcoin has long been shaped by its halving mechanism, creating a relatively regular 4-year cycle. But as the supply boost from halving continues to fade, this endogenous cyclical driver is growing less significant. Woo highlighted that BTC’s current annual new supply makes up roughly 0.8% of its total supply, a figure set to fall further to 0.4% going forward. Meanwhile, short-term debt cycles in traditional financial markets typically span 6 to 8 years, leading him to argue Bitcoin may be gradually transitioning from its prior 4-year cycle to a 6 to 8-year one. The present period could mark the transitional stage of this cyclical structural shift.

Analysis: Bitcoin Poised for a Golden Cross, Decline in USDT's Dominance Signals Rising Risk Appetite

Bitcoin is currently approaching the formation of a "golden cross" technical pattern, where the 50-day moving average crosses above the 200-day moving average. This indicator is widely regarded by the market as a signal of a long-term uptrend. While its historical performance does not accurately predict market movements every time, this golden cross may receive further support from USDT’s declining market dominance. Bitcoin has seen a total of 12 golden crosses in its history, with several periods delivering significant rallies. Statistics show that among the 9 measurable golden crosses, the average 3-month gain is roughly 24.9%; cases where the cross holds for a full year without being invalidated by a "death cross" are rare, but the average 1-year gain of the previous 3 such instances reached 250%. Meanwhile, USDT’s market dominance is approaching a "death cross"—its 50-day moving average has fallen below the 200-day moving average. The market typically views a decline in USDT’s market share as a sign of rising risk appetite, meaning funds may flow from stablecoins to Bitcoin and other crypto assets. Currently, Bitcoin’s golden cross and the signal of falling USDT dominance are emerging simultaneously, indicating recent market momentum is strengthening and risk asset allocation sentiment may be improving.

Bitcoin breaks through $78,000, with a 0.57% gain in the past 24 hours.

According to HTX market data, Bitcoin has broken through $78,000, currently trading at $78,037.08, with a 0.57% gain in the past 24 hours.

During Bitcoin's high-level pullback, whale groups increased their holdings by 6,765 Bitcoin.

According to data from analyst Alicharts, Bitcoin has corrected 5.82% from its local peak of $81,474 on August 28. During this period, the whale cohort has continued accumulating, purchasing approximately 6,765 BTC worth around $521 million.

Bitcoin ETFs posted a net inflow of $101 million yesterday, while Ethereum ETFs saw a net outflow of $48.2 million.

According to monitoring by Farside Investors, U.S. spot Bitcoin ETFs saw a net inflow of $101 million yesterday. Of that, BlackRock’s IBIT recorded a net inflow of $115.4 million, while Grayscale’s GBTC posted a net outflow of $56.2 million. U.S. spot Ethereum ETFs overall had a net outflow of $48.2 million. Among them, BlackRock’s ETHA saw a net outflow of $53.4 million, ETHB posted a net inflow of $52.9 million, Fidelity’s FETH had a net outflow of $26.2 million, and ETHE recorded a net outflow of $23.5 million.

The pause in oil price gains eases inflation concerns, U.S. stocks snap their three-day losing streak, and Bitcoin remains range-bound.

August's US ADP Employment Report came in below expectations. Trump stated he is prepared to launch another strike on Iran. As markets assess the impact of renewed US-Iran military strikes, oil prices swung higher then lower: WTI crude oil briefly topped the $90 per barrel mark during the session, but quickly pulled back, erasing all intraday gains, and closed down 0.28% at $89.12 per barrel; Brent crude settled 0.11% lower at $94.30 per barrel. According to market data from BIT (bit.com), US stocks closed on Wednesday: the Dow Jones Industrial Average rose 0.56%, the S&P 500 gained 0.46%, and the Nasdaq added 0.45%. NVIDIA (NVDA.O) and Oracle climbed 3%, SK Hynix (SKHY.O) and Micron Technology (MU.O) rose over 2%, while Dell (DELL.N) surged 15.7%. According to HTX market data, Bitcoin is currently trading at $77,195, down 0.13% in 24 hours.

Agent of "BTC OG Insider Whale": Bitcoin has held the $76,600 support level; if it breaks through $79,000, it could test higher highs.

Garrett Jin, the representative of the "BTC OG Insider Whale", stated in a post that Bitcoin (BTC) has held the critical level of $76,600. If BTC climbs further above $79,000, the price may attempt to form a higher high. However, even if BTC does post a higher high, this would still not be sufficient to confirm a genuine breakout in the market.

Analysis: Rising concerns over U.S. debt and fiscal deficits have weighed on Bitcoin, leading to its pullback, as markets monitor whether Bessent will intervene in the bond market again.

According to Forbes, Bitcoin has fallen nearly 10% since surging past $81,000 last month, dropping to around $76,000. Amid growing concerns over U.S. debt, fiscal deficits, and global financial market turmoil, the crypto market has seen heightened volatility, with investors now closely monitoring whether U.S. Treasury Secretary Bessent will intervene in the bond market again. Ed Yardeni, president of Yardeni Research, said markets are worried that "bond vigilantes" are pushing yields higher to express dissatisfaction with massive government deficits, rising debt, and rapidly increasing interest costs. He forecast that if the U.S. 10-year Treasury yield reaches 5%, there will be strong demand for the bond market, potentially including action from Bessent. If necessary, Bessent may raise funds by issuing additional short-term Treasuries and use the proceeds to repurchase long-term bonds to avoid a panic sell-off in the bond market. Last month, Bessent unexpectedly pledged to support the bond market to lower government borrowing costs, a move that subsequently drove a notable rise in Bitcoin’s price. However, global bond yields have climbed again this week, with the U.S. 10-year Treasury yield hitting 4.814% at one point, its highest level since November 2023. Meanwhile, amid fears of a potential further escalation of U.S.-Iran tensions, international oil prices have returned to near $90 per barrel, pushing up financing costs for the U.S. and other major economies and intensifying market focus on Bessent’s next moves.

A BTC whale deployed a $158 million block order to pre-position for the bull run, betting on Bitcoin to surge to $100,000.

According to monitoring by TradingBeats, a whale address starting with 0xf517 currently holds 106.36 BTC long positions, with a position value of roughly $8.133 million. However, the total size of its public orders on both the buy and sell sides has reached approximately $158 million, nearly 20 times the value of its current holdings. The core structure of these orders indicates the whale plans to expand its position during price dips and take profits in batches as prices rise. Its buy-side support zone is concentrated between $71,111 and $75,777. The address has placed a total of 3 buy orders, planning to acquire 1,049.84 BTC for a notional value of around $76.88 million. Two of these orders—at $75,777 and $71,111—were added today, totaling roughly $51.88 million. If all orders are filled, its BTC holdings will expand to approximately 1,156 BTC. The sell-side take-profit zones have been pre-set. The address has placed two "position-reduction only" sell orders at $77,777 and $88,888, which together cover its current 106.36 BTC long positions. Additionally, it has listed 164 regular sell orders between $84,509 and $108,888, planning to sell 715.69 BTC for a notional value of about $71.37 million. If the lower buy orders are filled first, the upper sell grid will primarily be used to take profits in batches on the newly added positions. Based on current static order calculations, even if all upper take-profit sell orders are executed, the address will still hold around 334 BTC long positions, maintaining a bullish outlook. BTC is currently trading around $76,500. Its first buy order tier at $75,777 is less than 1% away from the current price, while the higher take-profit grid extends all the way to $108,888. TradingBeats’ on-chain perpetual contract and address analysis tools are now live, enabling real-time access to Hyperliquid data—from tracing addresses to analyzing whale activities, with in-depth insights available at a glance.

A derivatives contract whale aggressively shorted Bitcoin (BTC), Ethereum (ETH), and US stocks, emerging as the largest short seller across 14 US stock assets.

According to TradingBeats monitoring, whale address "VBVIT" has recently aggressively shorted BTC, ETH, and XYZ100, an asset linked to the US Nasdaq 100. As of 17:41 Hong Kong time on September 2, the address’s total positions in these three short contracts amount to approximately $107.5 million, with an unrealized profit of around $2.4535 million. Per TradingBeats’ current short position size rankings, the address ranks as the 3rd largest short seller of BTC, 8th largest short seller of ETH, and 2nd largest short seller of XYZ100. Specifically, the address holds roughly 839.45 BTC short contracts, valued at ~$64.3196 million, using 10x leverage, with an average entry price of ~$78,146.8, and current unrealized profit of ~$1.2809 million. It also holds ~11,851.47 ETH short contracts, worth ~$28.1247 million, with 20x leverage, average entry price of ~$2,451.97, and unrealized profit of ~$934,800. Additionally, it holds ~522.16 xyz:XYZ100 short contracts, valued at ~$15.0916 million, with 20x leverage, and unrealized profit of ~$237,800. The address currently has a total of 86 positions, 60 of which are short positions, with a total short position size of ~$137 million, and overall unrealized profit of ~$2.6218 million from its short positions. It is also currently the largest short seller on Hyperliquid for multiple US stock and ETF assets, including 14 names such as ASML, IBM, AVGO, and MRVL. The address previously drew attention from the on-chain trading community for opening nearly $30 million in short positions on SPCX via Hyperliquid. Its historical win rate for completed trades stands at 48.44%.

Analysis: Bitcoin futures demand cools, short-term trend may face further pressure

CryptoQuant analyst Darkfost wrote in a post that signs of weakening demand are emerging in Bitcoin’s futures market. Data shows the 30-day average net aggressive buy volume has started to decline after a period of relatively strong growth, a trend similar to that seen in May 2026. On August 19, when Bitcoin broke through $65,000, the Taker Buy/Sell Ratio rose to 1.21 at one point, but market optimism has faded as investors gradually increased their short positions. Currently, the 30-day average net aggressive buy volume has plummeted from $213.7 billion to $97.8 billion in just a few days, a drop of over 50%; meanwhile, the Taker Buy/Sell Ratio has remained negative since August 30. This metric, which compares the volume of aggressive buy and sell orders in the futures market, reflects investor sentiment and position changes in the futures market. The analysis notes that futures market trading volume is still significantly higher than that of spot and ETF markets, so its capital flows have a strong influence on overall market trends. In the short term, signs of deterioration are emerging in the Bitcoin market; weakening futures demand and rising short positions may further weigh on price performance.

Yilihua: Bitcoin could face a short-term correction, but remains bullish, with an expected rally to $86,000.

Liquid Capital founder Yilihua posted on social media that after Bitcoin failed to break the $81,000 resistance level a few days ago, he has been anticipating a pullback in the $75,500 to $76,000 range, after which he remains bullish toward the next resistance at $86,000. His market calls over the past few months have been largely accurate, but that does not guarantee future correctness. Every trade requires caution and a fresh approach; making mistakes is normal. Many argue that discussing market trends is too easily disproven, with a single error able to wipe out all gains, but pressing forward and continuous improvement embody the entrepreneurial spirit, and failure is an inherent part of the business process.

Strategy CEO: The company will not make decisions based on Bitcoin prices, and its net debt has dropped to zero.

Strategy CEO Phong Le told Bloomberg in an interview, "We do not make decisions based on Bitcoin’s specific price. So what have we done? Over the past two months, while we haven’t purchased additional Bitcoin, we’ve strengthened our balance sheet. Currently, Strategy holds $72 billion in total assets, including $65 billion in Bitcoin and $7 billion in U.S. dollar reserves, with the reserves rising 34% over the period. Meanwhile, Strategy has cut its net debt from roughly $7 billion to zero. As a result, by strengthening our balance sheet, we’ve actually boosted our equity value, making selling MSTR to buy Bitcoin more profitable. That’s the shift we’ve seen over recent months. Now, this gives us a 'bulletproof' balance sheet — a 'fortress-style' balance sheet." Earlier reports noted that Strategy resumed its Bitcoin accumulation last week after a two-month pause.

Japanese listed company Remixpoint liquidates all altcoins, currently holds only Bitcoin.

According to an announcement by Japanese listed firm Remixpoint (ticker: 3825), the company sold all its altcoins on September 1—including Ethereum (ETH), Solana (SOL), XRP, and Dogecoin (DOGE)—for a total of 878.8 million yen, generating a profit of 117.8 million yen. Post-sale, Remixpoint’s only remaining cryptocurrency holding is Bitcoin (BTC), with approximately 1,506 BTC in reserves. Breakdown of the altcoin sales: 901.4467 ETH sold for 353.4 million yen, yielding a 60.2 million yen profit; 13,920.0726 SOL sold for 227.9 million yen, with a 49.3 million yen profit; roughly 1.1912 million XRP sold for 260.4 million yen, netting a 11.52 million yen profit; and approximately 2.8023 million DOGE sold for 37.08 million yen, incurring a 3.26 million yen loss. The company plans to recognize the ~118 million yen in sale proceeds in its second quarter results for the fiscal year ending March 2027. Remixpoint stated the portfolio adjustment is designed to further consolidate its crypto asset holdings, formalize its Bitcoin-centric investment and operational strategy, and boost capital efficiency. The sale proceeds will be considered for use in expanding assets in growth sectors such as grid-scale energy storage, strengthening its financial foundation, and other initiatives to enhance corporate and shareholder value. Additionally, the firm disclosed that between February 24, 2026, and August 31, it earned BTC lending income of 14.92055902 units, equivalent to approximately 164.2 million yen. As of August 31, its staking income from ETH and SOL combined totaled roughly 29.875 million yen.

Analysis: Bitcoin demand turns negative again, may face a new round of decline in the short term.

CryptoQuant analyst Darkfost noted in a post that Bitcoin (BTC)’s current selling pressure remains stable, while short-term holders (STH) continue to realize profits. However, the market’s “apparent demand” has turned negative again, signaling a notable drop in BTC demand over the past several days. He added that this weakening demand is also reflected in BTC’s price structure, with its trend growing increasingly fragile. If demand fails to recover in the very short term, BTC could enter a new round of decline. Darkfost stressed that the market’s direction is not yet fully clear, urging investors to remain cautious.

Yesterday, U.S. spot Bitcoin ETFs posted a net outflow of $237 million, while U.S. spot Ethereum ETFs recorded a net inflow of $8.6 million.

According to data from FarsideUK, U.S. spot Bitcoin ETFs recorded a combined net outflow of $236.5 million on September 1. Among them, BlackRock’s IBIT posted a net outflow of $201.2 million, Fidelity’s FBTC saw a net outflow of $43.7 million, and Bitwise’s BITB registered a net inflow of $8.4 million; all other BTC ETFs reported zero net fund flow for the day. U.S. spot Ethereum ETFs posted a combined net inflow of $8.6 million yesterday. ETHB led the inflows with a net addition of $11.2 million, followed by FETH’s $4.8 million net inflow, while ETHE recorded a net outflow of $7.4 million. BlackRock’s ETHA and the rest of the Ethereum ETFs had zero net fund flow on the day.

A crypto whale sent 95 Bitcoin to Galaxy Digital, likely for over-the-counter (OTC) sale.

According to monitoring by Onchain Lens, a whale has sent 95 Bitcoin (valued at approximately $7.32 million) to Galaxy Digital, likely for an over-the-counter (OTC) sale. https://www.panewslab.com/zh/articles/01a06031-04f9-7595-80b4-a81e5827df31

TD Cowen cuts its year-end Bitcoin price target to $97,500 and lowers its price target for Strategy to $260.

TD Cowen analyst Lance Vitanza has set Bitcoin’s year-end 2026 target price at $97,500, representing roughly 25% upside from its recent level of around $78,000. Meanwhile, TD Cowen cut its prior year-end 2026 base forecast of ~$140,000 to ~$100,000, and significantly lowered its previously more optimistic long-term outlook. Vitanza noted the revision stems primarily from recent Bitcoin price weakness, not a deterioration in company fundamentals or market structure. Currently, BTC trades in a recent range of approximately $58,400 to $78,000, with a maximum drawdown of over 50% from its prior peak above $126,000, and monthly drawdown once exceeded 20%. A clearer regulatory landscape and inclusion in broader indices remain TD Cowen’s identified potential catalysts for market recovery. For Strategy, TD Cowen trimmed its target price from $400 to $260 but retained a "Buy" rating. The adjustment is driven by the downward revision to Bitcoin’s price forecast, not a change in views on Strategy’s operational performance or capital structure. Separately, TD Cowen initiated coverage on Strive, projecting the firm will hold over 27,100 BTC cumulatively by the end of 2026, and assigned a $32 target price, implying roughly 33% upside.

The crypto market has declined again, with Bitcoin briefly falling below $77,000, while UNI extended its strong performance to break through the $5.9 level.

According to HTX market data, escalating US-Iran tensions have pushed the crypto market into another downturn. Bitcoin fell below $77,000 this morning, currently trading at $77,300. Ethereum dropped below $2,400, SOL slipped below $100, and BNB is now at $683. The total cryptocurrency market cap has shed 1.5% in 24 hours, standing at $2.7 trillion. Top gainers include SC and ACE, surging over 30% in 24 hours; ONG, FF, FIL, and CHIP rising more than 10%. UNI extended its strong run, climbing 10.37% to $5.9. The primary catalyst for UNI’s rally is the explosion in real trading volume on Robinhood Chain, which has made Uniswap the leading DEX for tokenized stock RWAs on Robinhood. Daily tokenized stock trading volume once hit roughly $130 million, nearly a 10-fold increase in a month. Furthermore, since Uniswap’s v4 version fee switch launched on Robinhood on July 27, the chain has become a key contributor to its fee revenue. Meanwhile, altcoins including CRDOB, HEMI, PROM, MITO, and ZKC have dropped over 10%.

Bitcoin falls below $77,000, Ethereum drops below $2,400.

According to HTX market data, the overall cryptocurrency market has continued to decline, likely impacted by escalating tensions in the Middle East. Bitcoin has fallen below $77,000, while Ethereum has dropped below $2,400. In related news, the U.S. Air Force struck Iranian targets near the Strait of Hormuz today, followed by Iran launching missiles and drones at U.S. military positions.

Bitcoin enters 'Rektember': September has historically been a weak month for the cryptocurrency, with interest rate hike risks likely to suppress its August gains.

Bitcoin kicked off September on a weak note, falling below $78,000. Since 2013, September has been Bitcoin’s worst-performing month on average, with an average decline of around 3% and only five monthly gains, earning it the market nickname "Rektember". However, Bitcoin has posted gains in each of the past three Septembers. It rallied roughly 25% in August, its strongest monthly performance since November 2024, and may face short-term consolidation or even correction pressure. The macroeconomic environment is also weighing on assets. After Federal Reserve Chair Waller delivered hawkish signals at the Jackson Hole Economic Symposium, global bond markets sold off, pushing the U.S. 10-year Treasury yield to as high as 4.784%. Markets currently assign a roughly 66% probability of a 25-basis-point rate hike by the Fed on September 16, and are pricing in potential additional hikes this year. Higher interest rates typically tighten financial conditions, boost the U.S. dollar, and weigh on risk assets like Bitcoin. Meanwhile, persistent tensions in the Middle East have lifted oil prices, with WTI crude trading near $88 per barrel, while gold fell more than 2% on Tuesday. Traditional markets also face seasonal headwinds: since 1975, September is the only month with a negative average performance for the S&P 500 index.

The US is pressuring Japan to raise interest rates, once again drawing attention to Bitcoin's fixed monetary policy advantages.

Analysts noted that U.S. Treasury Secretary Scott Bessent was recently reported to have urged Japan to raise interest rates to curb the yen’s sustained depreciation, highlighting that traditional monetary policies are vulnerable to government and external factors. In contrast, Bitcoin’s monetary policy is pre-set by code, with new coin issuance following a fixed schedule and halving approximately every four years, offering greater predictability. However, Bitcoin will still struggle to decouple from traditional financial market shocks in the short term. If Japan’s interest rate hike drives a rapid yen appreciation, long-standing low-yen financing trades may be unwound, triggering sell-offs in stocks, bonds, and crypto assets. In August 2024, a rate hike by the Bank of Japan boosted the yen, putting pressure on risk assets including Bitcoin. Technically, Bitcoin’s 50-day moving average (MA) is currently trending upward and approaching a cross above its 200-day MA, potentially forming a "golden cross". However, analysts argue that moving averages are lagging indicators, and the golden cross’s historical predictive power as a standalone metric is inconsistent.

Bitcoin’s Kimchi Premium reappears, marking its longest duration since early May.

Recently, Bitcoin has re-emerged with a price premium in the South Korean market. On Tuesday, Bitcoin quoted in South Korean won on Upbit was once about 1% higher than the corresponding price on Binance, a gap that has persisted for roughly a week, marking the longest such stretch since early May. For most of the past months, Bitcoin prices in South Korea have traded below overseas markets; in early June, the discount reached 3.1%, and the overall average discount in August stood at around 0.25%. The return of this premium signals a recovery in risk appetite among South Korean investors.

Bitcoin fell below $78,000, with a daily decline of 0.77%.

According to HTX market data, Bitcoin has fallen below $78,000, currently trading at $77,982.9 per coin, down 0.77% on the day.

Greeks.live: Strategy’s resumed BTC buying activity is unlikely to alter Bitcoin’s long-term trajectory, as sustaining above $80,000 still faces significant pressure.

Greeks.live noted in a recent article that if Strategy resumes its BTC purchases soon, it will only deliver short-term stimulus and fail to change Bitcoin’s long-term trajectory. After booking unrealized gains, Strategy has more room to add to its holdings, but over a longer cycle, BTC ETFs as a whole remain in net outflow, making it quite challenging for BTC to hold above $80,000 given substantial selling pressure. Currently, no single participant in the BTC market can manipulate or accurately predict its price movements. On the macro front, the Federal Reserve’s hawkish comments and escalating U.S.-Iran tensions are further testing investors’ already fragile sentiment. Moreover, BTC’s short-term volatility has plummeted rapidly, and a single bullish candlestick is insufficient to sustain a bull market. If BTC can rebound above $85,000 after a minor pullback, the market structure may improve; otherwise, arbitrageurs and sellers could bring heavy selling pressure. Gamma exposure (GEX) is accumulating at month-end, and the market still needs additional upward momentum to maintain its trend.

A crypto whale went all in on Bitcoin with 40x leverage, depleting their capital, leaving their $26 million long position on the verge of liquidation.

According to monitoring by TradingBeats, a whale address starting with 0x90b5 is currently holding two high-leverage long positions in Bitcoin (BTC) and Ethereum (ETH), with a combined notional value of around $26.334 million. The account’s withdrawable balance has dropped to zero, and the two positions are currently showing a combined unrealized loss of roughly $41,800. Breakdown of the positions: - BTC: A 40x fully leveraged long position of 246.17 BTC, worth ~$19.386 million, with an average entry price of $78,855.4 and a liquidation price of $77,641.8—just 1.41% below the current market price. - ETH: A 25x fully leveraged long position of 2,808.02 ETH, worth ~$6.948 million, with a liquidation price of $2,376.7, 3.95% below current levels. Over the past ~27 hours, the address has added roughly $400,000 in USDC via three deposits from the same funding address: $50,000, $50,000, and $300,000 respectively. After all funds were credited, the whale initiated simultaneous Time-Weighted Average Price (TWAP) buy orders for BTC and ETH at 11:35 today. The BTC order was set to purchase 239.45 BTC; 214.72 BTC (worth ~$16.925 million) was filled within five minutes before the order was halted due to a "margin insufficient" error. Following a minor BTC price rise that unlocked some margin, the address bought an additional ~31.45 BTC, bringing its total BTC position to 246.17 BTC. The position is now underwater amid a short-term BTC pullback.

Analysis: Bitcoin held by long-term holders rises to 281,900 coins, up 61.5% from August 18

CryptoQuant analyst Axel Adler Jr. noted that between August 18 and 28, Bitcoin Long-Term Holder (LTH) 30-day cumulative distribution rose from 174,500 BTC to 281,900 BTC, a 61.5% increase, hitting its highest level since 2026 on August 28. The metric accelerated sharply during Bitcoin’s rapid rebound following a short squeeze, signaling long-term holders are taking profits amid the price recovery. Meanwhile, LTH MVRV rose from 1.31 on August 18 to 1.64 on August 27, and remained at 1.60 as of August 31, meaning the market value of Bitcoin held by long-term holders is roughly 60% above their average realized value. This indicates that despite rising distribution activity, long-term holders still hold substantial unrealized profits. Adler argues that the price rebound after the short squeeze has simultaneously lifted long-term holders’ profit levels and the pace of token distribution, creating conditions for further profit-taking. If Bitcoin prices hold steady, long-term holders may continue releasing supply, adding extra selling pressure to the market. The current market crux is whether long-term holders will sustain high-level distribution and whether new buying demand can absorb this additional supply; otherwise, the market may face renewed price pressure.

Viewpoint: Bitcoin’s rebound momentum remains strong, with institutional allocations and speculative leverage rising in tandem.

Glassnode noted in a report that Bitcoin is currently trading around $78,600, having largely held onto the strong rally it launched from the $64,000 zone at the end of August after earlier breaking above $80,000. The broader digital asset market still shows strong institutional demand, though activity in spot and derivatives trading has cooled in some segments. Meanwhile, price momentum has clearly exceeded the upper bound of its statistical range. The secondary market’s trading volume and spot Cumulative Volume Delta (CVD) indicate that the balance of buying power in the market may be shifting, while retail participation has also weakened. Traditional finance capital continues to flow into regulated crypto investment products. U.S. spot Bitcoin ETF holdings remain profitable and have maintained weekly net inflows. At the same time, short-term, price-sensitive capital is entering the market, coinciding with high options open interest and a rapid narrowing of volatility spreads—signaling that market participants may be underestimating short-term volatility risks. On-chain data also reflects a pattern of "active settlement but weakening user participation": entity-adjusted transaction volumes are significantly above normal levels, while daily active addresses and total fee revenue have declined slightly. Overall, the Bitcoin market is in a transition phase from a strong rally to structural divergence. Sustained institutional capital allocation and a rebound in on-chain valuations are providing market support, though speculative leverage is rising and signs of short-term capital selling have begun to emerge. The market’s fundamentals remain solid, but short-term volatility and correction risks are on the rise.

British man recovers £3.3 million worth of Bitcoin from collapsed crypto exchange after 12 years of loss

British man Chris lost access to his digital wallet when crypto exchange Intersango collapsed in 2014. The wallet held Bitcoin worth around ￡4,000 at the time, and the platform had more than 5,000 accounts back then. It is believed that hundreds of millions of pounds worth of Bitcoin may still be held in the account of one of the exchange’s co-founders, with former users potentially able to reclaim their funds if they can provide sufficient proof of ownership. After years of failed attempts to contact the company, Chris gave up at one point, saying watching Bitcoin’s price keep climbing felt “like a punch to the gut”. But earlier this year, he tried again, hiring a lawyer to help prove he owned dozens of the “lost” Bitcoin. A few months later, the Bitcoin was returned to him — now valued at around ￡3.3 million.

Prominent trader Killa: Bitcoin will hit a new all-time high next year, and the biggest mistake would be staying on the sidelines.

Well-known trader Killa stated in a post that Bitcoin will hit a new all-time high next year, and it won’t even matter if you end up buying at $100,000. These price levels will all be left behind as time passes, and the biggest mistake is staying on the sidelines.

Greeks.live: Bitcoin nears the option trading concentration zone, upward pressure may increase.

Greeks.live researcher Adam noted in a post that the rapid rally has greatly lifted market sentiment. Beyond gains in major cryptocurrencies like Bitcoin, all sectors have shown clear signs of recovery. However, as the market’s rally pace slows, key investors in the options market have significantly cut their expectations. The implied volatility (IV) of short- and medium-term options has fallen sharply, rising by only 10% compared to two weeks ago; long-term options have also seen a notable decline, with their increase less than 2% over the same period, reflecting investors’ reduced outlook on future volatility. Around 40% of options will expire at the end of this month, with the most concentrated positions at strike prices between $80,000 and $90,000. Additionally, Bitcoin’s price is currently in a dense trading zone, which will pose some resistance to upward breakthroughs.

US Pre-Market News Roundup: Strategy Resumes Bitcoin Purchases After Two-Month Hiatus; U.S. Military Strikes Iran on Sunday

Key pre-market news for US stocks on Monday: 1. Strategy added 4,603 BTC last week, its first purchase in two months, at an average price of $80,318; Bitmine added 53,501 Ethereum last week, marking its 65th consecutive week of accumulation. 2. US Central Command confirmed that US forces struck two Iranian rocket launchers in the Strait of Hormuz on Sunday (early morning Beijing time, August 31). This is the first time the US has publicly admitted to an attack on Iran since late July. 3. Jensen Huang said AI is bringing manufacturing back to the US and helping America lead the next industrial revolution. AI is creating demand, driving investment in the US’s aging power grids and sustainable energy, driven by market forces rather than subsidies. 4. Last week, the US signed a broad energy cooperation agreement with Venezuelan interim president Rodriguez. Trump said Sunday that the US will fill its strategic petroleum reserve with Venezuelan oil. 5. Barclays expects the Federal Reserve to raise interest rates by 25 basis points in both September and December this year. 6. Tom Lee believes that asset tokenization and AI agent finance will be the core narratives of the crypto market over the next five years, with Ethereum poised to become the underlying settlement layer of the global financial system, and ETH remains significantly undervalued relative to BTC at present.

MicroStrategy Resumes Buying Bitcoin After Two Months

Strategy disclosed that it spent $369.7 million to add 4,603 BTC to its holdings during last week (August 24–August 30). The purchase comes over two months after its last Bitcoin acquisition, when it bought 520 BTC in the week of June 15–June 21.

MicroStrategy’s Bitcoin holdings post unrealized gains of over $2.6 billion

According to HTX market data, Bitcoin is currently trading at $78,492. Strategy’s Bitcoin holdings are now sitting on an unrealized profit of over $2.602 billion. As previously reported, Strategy holds 845,050 Bitcoins in total, with a combined purchase cost of $63.73 billion, averaging $75,412 per coin.

Strive invests $143 million to add 1,800 Bitcoin to its holdings.

Strive CEO Matt Cole disclosed that the company spent $143 million to add 1,800 Bitcoin to its holdings at an average purchase price of $79,431, bringing its total Bitcoin holdings to 23,156 coins.

Nearly $80 million in Bitcoin buy orders were front-run, while a new address plans to go long near $75,000.

According to monitoring by TradingBeats (formerly Hyperinsight), a recently created address placed 30 non-position-reducing limit buy orders for BTC at 14:22 today, with prices ranging from $75,000 to $76,000. The total planned purchase volume is 1,046.7831 BTC, translating to a nominal value of approximately $79.032 million based on the order prices. The address currently holds no open positions; all 30 orders are identical in size at 34.892 BTC each, with each order valued between roughly $2.62 million and $2.65 million. BTC is currently trading at $78,689.4, meaning these buy orders are priced 3.42% to 4.69% below the current market rate. It is learned that this address was activated four days ago, receiving around $5.1 million in funds, after which it executed four short positions that yielded a profit of $330,000. If the orders are filled, this will mark the address’s first long position. On-chain perpetual and address analysis tool TradingBeats is now live, supporting real-time viewing of Hyperliquid data, enabling in-depth analysis from address tracing to whale operations, with comprehensive insights available at a glance.

Bitcoin holds above $78,000, the Japanese yen falls below the 160 threshold, and a strengthening US dollar continues to weigh on the crypto market.

Bitcoin is currently trading near the $78,000 level, down 0.04% over the past 24 hours, and still up around 1% over the past week. A stronger U.S. dollar and shifting interest rate expectations have weighed on the broader crypto market, with Solana and Dogecoin leading losses of around 2%, followed by Hyperliquid and XRP; Ethereum, BNB, Zcash, and TRON remained largely flat. Meanwhile, the Japanese yen fell below the 160 level against the U.S. dollar, trading near that threshold in Tokyo markets. Market strategists believe that a further depreciation of the yen to around 161 could trigger intervention, while the 162-163 range would face stronger intervention pressure. Following Federal Reserve Chair Waller’s speech at Jackson Hole, market expectations for higher U.S. interest rates rose, bond investors began pricing in the possibility of a Fed rate hike, and the U.S. dollar strengthened accordingly. This round of interest rate repricing has previously led institutional funds to pull out of Bitcoin ETFs. August 31 marks the final trading day of the month, so the market will closely monitor monthly fund flows into Bitcoin ETFs.

Tom Lee: Four Key Catalysts Could Trigger Ethereum (ETH) Rally; If Bitcoin (BTC) Rises to $150,000 and ETH/BTC Returns to 0.04, ETH Could Reach $6,000

Bitmine Chairman Tom Lee recently told the Milk Road Show in an interview that asset tokenization and AI agent finance will be the core narratives driving the crypto market over the next five years. Ethereum is poised to become the underlying settlement layer of the global financial system, and ETH remains severely undervalued relative to BTC. Lee projects ETH could be boosted by four key catalysts in the remainder of 2026: the U.S. Clarity Act is expected to pass in September, over-the-counter short positions and sidelined funds returning to the market, Asian funds reallocating to crypto assets, and global institutional fund managers chasing top-performing crypto assets amid quarterly performance pressures. He forecasts the ETH/BTC exchange rate will retest its historical high of 0.08. Even a conservative recovery to 0.04 would put ETH at $6,000 if BTC hits $150,000. Lee also stressed Bitcoin still has long-term upside, but the crypto industry’s bigger overarching trends over the next five years will be the "full asset tokenization super cycle" and "AI agent finance".

Metaplanet transferred 1,600 Bitcoin to two new wallets.

According to monitoring by Onchain Lens, Metaplanet has transferred 1,600 BTC (valued at approximately $124.36 million) to two newly created wallets.

Bitcoin saw significant gains in August, yet spot demand remains at historic lows.

According to CryptoQuant analyst Darkfost, despite Bitcoin’s 30% rally in August, combined centralized exchange (CEX) spot trading data shows that Bitcoin spot demand remains at historically low levels, comparable to the levels seen in September 2023. Taking Binance as an example, this leading CEX still boasts the highest spot trading volume in the industry, though its figure has fallen from $198 billion to $44 billion. Notably, this number is $1.6 billion higher than in July, marking the first emerging sign of stabilization. Darkfost notes that if trading volume rises in tandem with price, it will act as a strong signal indicating the start of a new Bitcoin bull market cycle.

The crypto market has halted its decline and rebounded, with Bitcoin returning to $78,000.

According to HTX market data, after a sharp morning sell-off, the crypto market has stabilized following its earlier decline. Bitcoin is now trading at $77,992.90, with a 0.47% rebound in the past hour, while Ethereum stands at $2,432.38, up 0.71% over the same period.

Bitcoin breaks through $79,000, Ethereum surpasses $2,500.

，据 HTX 行情信息，比特币突破 79,000 美元，24 小时涨幅 1.49%；以太坊突破 2500 美元，24 小时涨幅 2.48%。

Perspective: On-chain retail Bitcoin (BTC) activity has hit a two-year high, and the minor pullback appears more like position rotation rather than a market top.

CryptoQuant analyst Darkfost stated that on-chain retail Bitcoin activity has reached a two-year high. The current slight pullback from the $80,000 level is more of a rotation than a market top, Bitcoin’s medium-term demand remains strong, and investor demand for the cryptocurrency has increased by 17.4% over the past 30 days.

Michael Saylor releases Bitcoin Tracker update: "We're ₿ack"

Michael Saylor, founder of MicroStrategy, has shared updates on the firm’s Bitcoin Tracker, with the caption “We're ?ack.” Per its historical pattern, MicroStrategy typically discloses news of additional Bitcoin purchases on the day following such announcements. Notably, the firm’s most recent disclosure of increased Bitcoin holdings was on June 22, 2026, and it has not released any updates related to its Bitcoin Tracker in the past two weeks.

Analyst: Bitcoin’s realized market capitalization has notched its strongest growth since the start of the current bear market, adding over $4.6 billion in the past week.

CryptoQuant analyst Darkfost stated that Bitcoin’s weekly realized market capitalization has continued to rise, increasing by more than $4.6 billion over the past week, indicating that capital inflows are supporting BTC’s current rally. This marks the strongest realized market cap growth for Bitcoin since it entered the bear market, with its trend pattern also resembling certain phases of the previous bear market. Realized market cap growth does not fully equate to new capital inflows, as some investors who bought at high levels may choose to sell at a stop-loss, thereby forming new UTXOs at lower realized prices. However, judging from BTC’s concurrent price movement, market demand still outweighs the associated selling pressure. He noted that while this change is a noteworthy short-term signal, its overall magnitude remains limited: the 30-day average change rate of realized market cap is only 0.4%, which is currently insufficient to confirm a sustained shift in market trend, requiring further data for validation.

Analyst: Bitcoin’s daily chart shows hidden bearish divergence, forming a key resistance near $80,000

Crypto analyst Rekt Capital has published a technical chart analysis for Bitcoin, pointing out that Bitcoin’s phase lows in February and June 2026 both landed in roughly the same price range, while the Relative Strength Index (RSI) also sat at nearly identical oversold levels. Following both bottoming events, BTC rallied to around $80,000. He noted that compared to the May 2026 high, this time when BTC rose back to roughly $80,000, the RSI’s overbought level was markedly higher, yet the price itself formed a lower high. The RSI’s higher high paired with the price’s lower high creates a hidden bearish divergence on BTC’s daily timeframe at the key psychological resistance level of approximately $80,000. This hidden bearish divergence will persist as long as BTC fails to break out and form a new higher high.

A prominent trader says Bitcoin is likely to fluctuate within the range of $71,000 to $82,000, and remains bullish on an upward breakout.

Prominent crypto trader Doctor Profit said bearish sentiment for Bitcoin is likely to intensify in the coming days, putting greater pressure on bulls. He believes the market may use short-term price volatility to flush out late bullish entrants and weak-handed holders. Doctor Profit projects BTC will consolidate in a range of $71,000 to $82,000, with $71,000 as the range floor and $82,000 as the key resistance to break. He remains bullish on BTC’s eventual upside breakout, regardless of whether it comes on the first or third attempt. Doctor Profit emphasized that he is currently not shorting or selling, and continues to hold his spot positions established around $62,000.