TL;DR Bitcoin fell below $85,000 after stronger U.S. business data pushed Treasury yields higher. S&P Global’s flash U.S. Composite PMI rose to 58.4 in September, the strongest reading since July 2021. The move shows how quickly Bitcoin’s recent rebound can be challenged when markets price in tighter monetary policy. Bitcoin’s rebound has run into a familiar obstacle: rising interest rates. BTC fell back below $85,000 as U.S. Treasury yields climbed, with the 10-year yield moving above 5% after stronger-than-expected economic data renewed concerns that monetary policy may have to stay tight. Stronger Growth Is Not Automatically Good News For Bitcoin S&P Global’s flash U.S. Composite PMI rose to 58.4 in September from 56.0 in August. That was the strongest reading in more than five years. Normally, strong business activity sounds like straightforward good news. Markets are looking at the other side of the equation. Faster growth, stronger employment and rising input prices can give the Federal Reserve less reason to cut interest rates — and potentially more reason to keep policy restrictive if inflation remains uncomfortable. That pushes bond yields higher. For Bitcoin and other risk assets, higher yields increase the return available on conventional dollar assets and raise the discount rate investors apply to more speculative investments. Bitcoin’s $87K Push Was Quickly Tested Bitcoin had recently climbed above $87,000 as improving sentiment and strong institutional demand helped squeeze short positions. The pullback toward the mid-$84,000 area shows that the rally is still sensitive to macro conditions. That does not necessarily invalidate the move higher. It does mean Bitcoin needs fresh buying once the mechanical effect of short liquidations fades. The market has spent much of this cycle proving that crypto-specific developments and institutional adoption matter. But macro liquidity still matters too. When Treasury yields jump above 5%, investors suddenly have a very different set of alternatives for capital. Bitcoin remains well above the lows seen earlier in the year, but the latest move is a reminder that reclaiming higher levels will require more than momentum. If economic data keeps coming in hot, the argument over how long rates stay elevated could become one of the biggest variables for BTC through the final quarter of 2026. This article was written by the News Desk and edited by Samuel Rae.
The crypto market trades at $2.84 trillion, down 0.31% since yesterday’s close, as fresh money keeps slowing. Fund buying has shrunk for three straight days, and crypto’s cash pool is still refilling. 1. ETF Buying Shrank for Three Straight Days Spot Bitcoin ETFs took in $998.95 million on September 21, the day the Bitcoin breakout
The post Why Is The Crypto Market Down Today? appeared first on BeInCrypto .
Treasury yields eased from multi-decade highs and oil slipped on reports of a phased U.S.-Iran deal, with roughly $14 billion in bitcoin options set to expire on Deribit on Friday.
Morgan Stanley discusses USDT on Bitcoin with Tether-backed Utexo as Paolo Ardoino says the stablecoin is coming home.
The post Why Is Tether Bringing USDT Back to Bitcoin Now? Morgan Stanley Offers a Clue appeared first on BeInCrypto .
TL;DR Hut 8 has been named the winning bidder for two Poolin data-center sites in Texas with a $140 million offer. The bid is nearly three times the combined $52 million stalking-horse offer that opened the auction process. The transaction is not final: bankruptcy-court approval is still required at a hearing scheduled for September 29. Hut 8 has emerged as the winning bidder for two Texas data-center sites owned by bankrupt mining company Poolin, putting $140 million on the table for infrastructure that could extend well beyond Bitcoin mining. The bid covers Poolin’s Pyote and Tarbush locations. The Auction Escalated Well Beyond The Opening Offer The bankruptcy process began with combined stalking-horse bids of $52 million. Thor CALAP had offered $15 million for the Pyote campus and $37 million for Tarbush. Competition pushed the final number dramatically higher. Other bidders included DigiPower X and Pecos Industrial Development, acting as a designee of AI infrastructure company Fluidstack. Hut 8 ultimately came out on top with an offer worth $140 million in cash and other consideration. Poolin entered Chapter 11 in July with roughly $173 million of obligations, much of it tied to IOUs owed to users of Poolin Wallet after withdrawals were frozen in 2022. Winning The Auction Does Not Mean The Sale Is Closed There is one procedural point that matters here. Hut 8 has won the auction. It has not yet completed the acquisition. The proposed sale still requires approval from the U.S. Bankruptcy Court for the District of New Jersey, with a hearing scheduled for September 29. Until that happens, the transaction should be treated as a winning bid rather than a closed purchase. For Hut 8, the attraction is easy to understand. The company has been moving beyond its roots as a pure Bitcoin miner and deeper into large-scale data-center and AI infrastructure. Power access has become one of the most valuable assets in that market. Poolin’s Texas sites could therefore have value that extends well beyond how many Bitcoin miners can fit inside them. The auction price itself makes that clear. A process that began around $52 million ended with a $140 million winning bid. That is a strong signal that buyers are increasingly valuing mining sites for their grid access and broader compute potential, not just their ability to hash Bitcoin. This article was written by the News Desk and edited by Samuel Rae.
The Swedish Tax Agency, Bikupa Datacenter AB, and Bikupa Datacenter 2 AB, Swedish subsidiaries of bitcoin mining firm Hive Digital Technologies, are engaged in a legal battle that might affect the classification of mining operations in the EU and how VAT applies to these activities. Sweden and Hive Engaged in Battle Over Crypto Mining […]
TL;DR Chainalysis says measured global crypto economic activity declined just 1.6% during the 12 months ended June 30, 2026. That happened while the wider crypto market lost roughly $2.1 trillion in capitalization. Domestic peer-to-peer and cross-border stablecoin activity both grew sharply during the period. Crypto prices took a beating over the past year, but the underlying economy did not shrink anything like as quickly. That is the central finding from Chainalysis’ 2026 Global Crypto Adoption Index, which measures activity across the 12 months ended June 30. The analytics firm estimates total crypto economic activity fell only 1.6%, from roughly $9.5 trillion to $9.4 trillion, even as the market lost around $2.1 trillion in capitalization. Stablecoins And P2P Activity Kept Moving That gap between price and activity is the interesting part. Chainalysis says domestic peer-to-peer crypto transfers rose 302.9% to $228.7 billion during the period. Cross-border stablecoin flows climbed 77.5% to $220.3 billion. Meanwhile, the value moving into centralized crypto services declined 4.3%. In other words, a painful bear market reduced asset prices far more dramatically than it reduced the amount of economic activity taking place on the rails themselves. That supports an increasingly important distinction in crypto. Market capitalization tells us what assets are worth at a particular moment. Transaction activity tells us whether people are still using them. A Bear Market No Longer Means The Network Goes Quiet Earlier crypto cycles tended to produce a much simpler pattern. Prices collapsed, speculative activity disappeared and usage often fell with it. Stablecoins have complicated that relationship. A dollar token can continue being useful for payments, savings or cross-border transfers whether Bitcoin is at an all-time high or halfway through a drawdown. The same is true for peer-to-peer transfers in markets where crypto is being used as financial infrastructure rather than a speculative investment. Chainalysis’ data does not mean the bear market was painless. A $2.1 trillion drop in capitalization represents a huge destruction of paper wealth, and some areas of the industry clearly contracted. But a 1.6% decline in measured economic activity against that backdrop suggests crypto usage has become more resilient than the headline price chart implies. That may be one of the more important signs of maturity in this cycle. This article was written by the News Desk and edited by Samuel Rae.
Bitcoin researchers have proposed a system for private transfers directly on the network without requiring a soft fork or changes to its consensus rules. The Sept. 24 paper from [[alloc] init] researchers Clara Shikhelman, Mikhail Komarov, and Aleksei Moskvin introduces Shielded Bitcoin, a metaprotocol designed to conceal transaction amounts, senders, recipients, and links between transfers while […]
The post Bitcoin researchers target privacy coins with Zcash-style shielded transfers appeared first on CryptoSlate .
Bitcoin price currently hovers around $84,000, its highest level since January 2026. But will BTC maintain this range and trigger a breakout towards $100,000? According to Crypto analyst Benjamin Cowen, it comes down to one candle – Bitcoin’s weekly close. A strong weekly close above $82,000 could confirm the breakout. A drop back below it
The post Will Bitcoin Price Breakout Towards $100,000? One Candle Will Decide This Week appeared first on BeInCrypto .
Bitcoin Magazine
Nearly $352M Moved From Crypto Exchange Bitget Wallets in Suspected Hack
Crypto exchange Bitget detected unauthorized transfers and has temporarily halted withdrawals.
This post Nearly $352M Moved From Crypto Exchange Bitget Wallets in Suspected Hack first appeared on Bitcoin Magazine and is written by Mathew Di Salvo .
Bitcoin Magazine
New York Sues Polymarket, Calling Prediction Market an Illegal Gambling Operation
Attorney General Letitia James and Governor Kathy Hochul allege Polymarket operates without a license in a new complaint.
This post New York Sues Polymarket, Calling Prediction Market an Illegal Gambling Operation first appeared on Bitcoin Magazine and is written by Mathew Di Salvo .
JPMorgan says Bitcoin’s brief move above the crucial $85,000 production-cost level could ease pressure on miners after BTC spent a staggering 280 days below it.
Bitcoin Magazine
SEC Commissioner Hester ‘Crypto Mom’ Peirce Advocates Privacy-Preserving Tech
The outgoing regulator took aim at how regulators collect crypto users’ data.
This post SEC Commissioner Hester ‘Crypto Mom’ Peirce Advocates Privacy-Preserving Tech first appeared on Bitcoin Magazine and is written by Mathew Di Salvo .
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, Web3 and crypto regulation.
Bitcoin Magazine
Jeff Booth: Why $1 Million BTC is Thinking too Small
Jeff Booth says a $1 million Bitcoin price target is thinking too small. Here is why valuing Bitcoin in debased fiat currency uses a rigged system.
This post Jeff Booth: Why $1 Million BTC is Thinking too Small first appeared on Bitcoin Magazine and is written by Patrick Green .
Bitcoin Magazine
Saifedean Ammous: The Bond Crisis & Bitcoin’s Rise as a True Macro Asset
Falling volatility is Bitcoin's most bullish signal right now, according to Saifedean Ammous.
This post Saifedean Ammous: The Bond Crisis & Bitcoin’s Rise as a True Macro Asset first appeared on Bitcoin Magazine and is written by Patrick Green .
Bitcoin Magazine
Brooklyn Man Sentenced to 12 Years for $16M Coinbase Phishing Scam
Ronald Spektor, 23, who lived with his father, used social engineering to steal funds from Coinbase customers.
This post Brooklyn Man Sentenced to 12 Years for $16M Coinbase Phishing Scam first appeared on Bitcoin Magazine and is written by Mathew Di Salvo .
