Bitcoin treads water at $90K as whales eat the Ethereum dip: Finance Redefined
Bitcoin stabilized near $90K while institutional Ethereum accumulation slowed, though large holders continued buying the dip.Summary
Cryptocurrency markets consolidated, with Bitcoin holding above the $90,000 mark amid prevailing 'fear' sentiment, according to the Fear & Greed index. A significant trend observed is the unwinding of the Ethereum treasury trade, as monthly acquisitions by Ethereum Digital Asset Treasuries (DATs) dropped 81% from their August peak, signaling a slowdown in corporate ETH accumulation. However, major players like BitMine Immersion Technologies continued aggressive buying, accumulating significant ETH. Investors are also closely watching the upcoming US Federal Reserve meeting for cues on interest rates, with markets pricing in a high probability of a rate cut. Separately, market maker Citadel Securities urged the SEC to strictly regulate DeFi platforms offering tokenized stocks, sparking backlash. Furthermore, crypto veteran Arthur Hayes warned that the new Monad layer-1 blockchain is a high-risk "VC coin" likely to fail long-term, while the crypto lending market has grown to nearly $25 billion with increased transparency.
(Source：Cointelegraph)