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Placed in: Finance · Blockchain Analytics
Picknexo · Review
Published September 25, 2026
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Updated: September 25, 2026 | PickNexo
Institutional demand remains one of the strongest supports. U.S. spot Bitcoin exchange-traded funds recorded approximately US$190.7 million in net inflows on September 24, while spot Ether ETFs attracted about US$66.1 million. At the same time, roughly US$16 billion in Bitcoin options are expiring today, creating the potential for sharper moves after dealer hedges are removed.
Beyond prices, regulation and tokenization are moving quickly. The Federal Reserve has proposed a framework for stablecoin issuers under the GENIUS Act, the CFTC has clarified how regulated firms may use tokenized assets and blockchain records, and major UK banks have completed live interbank transactions using tokenized deposits.
Bitcoin is trading around US$84,000 to US$84,500 after falling toward US$83,000 on Thursday. Ether is holding near US$2,670, while several large altcoins are recovering more quickly from the selloff.
The US$82,000 to US$83,000 region remains the nearest important support zone. Holding above it would give Bitcoin room to challenge US$85,000 and then the recent high near US$87,000. A sustained break below support would increase the risk of another move toward US$80,000.
Approximately US$16 billion in Bitcoin options on Deribit expire today. Calls account for about US$9.6 billion of open interest, compared with approximately US$6.4 billion in puts.
The expiry arrives after approximately US$462 million in crypto futures liquidations over 24 hours. Bitcoin accounted for about US$147 million and Ether for roughly US$109 million, showing that leverage remains capable of amplifying relatively small price changes.
U.S. spot Bitcoin ETFs recorded approximately US$190.7 million in net inflows on September 24. BlackRock's IBIT led with about US$162.6 million, followed by smaller positive flows into funds operated by Fidelity, Morgan Stanley and Franklin Templeton.
These flows matter because they show that institutional demand has remained positive despite macroeconomic pressure. ETF buying does not guarantee an immediate rally, but it can absorb available supply and make major support levels more resilient.
The Federal Reserve has requested public comment on two proposals for payment stablecoin issuers supervised by the Board. The first would require full backing with permitted reserve assets, including short-term Treasury bills and other high-quality liquid assets.
The second proposal would create an application process for supervised banks seeking approval to issue payment stablecoins. Applicants would need to provide a business plan, financial information and other supporting documents. Public comments are due within 60 days after publication in the Federal Register.
For the crypto industry, this is an important step from legislation toward implementation. Clear reserve and redemption standards could improve confidence, but the final requirements will determine how many banks and payment firms can enter the market economically.
The Commodity Futures Trading Commission has updated its guidance for registered firms and market infrastructure providers. The new answers address customer-fund investments in tokenized versions of permitted assets and the use of blockchain technology to satisfy recordkeeping obligations.
This type of operational clarity is important for institutional adoption. Tokenized collateral and automated records are more useful when banks, brokers and clearing firms understand how existing regulations apply to them.
Seven major UK financial institutions have completed live customer transactions using tokenized sterling deposits through the Great British Tokenised Deposit initiative. Participants include Barclays, HSBC UK, Lloyds Banking Group, Monzo, Nationwide, NatWest and Santander.
Unlike a privately issued stablecoin, a tokenized deposit represents money already held within the regulated banking system. Supporters believe it can add programmability and faster settlement while retaining the protections associated with ordinary bank deposits.
ARK Invest and Securitize have announced the tokenization of the ARK Venture Fund, known as ARKVX. The actively managed fund invests across private and public technology companies, with holdings that include OpenAI, Anthropic, Stripe and Databricks.
The launch reinforces a wider trend: blockchain infrastructure is increasingly being used to represent conventional funds, deposits, bonds and private-market exposure rather than only native crypto assets.
Bitget said unauthorized transfers affected approximately US$351.6 million in assets held in parts of its hot- and warm-wallet infrastructure on September 24. The exchange temporarily suspended withdrawals while investigating the incident with law enforcement and external security firms.
The incident is another reminder that exchange solvency and wallet security are separate risks. Users may wish to limit idle balances on trading platforms, activate strong account security and independently verify restoration notices through official channels.
New York Attorney General Letitia James and Governor Kathy Hochul have announced a lawsuit against Polymarket US. The state alleges that the platform operated an unlicensed gambling business and offered access to users below New York's minimum age for mobile sports betting.
The case may influence how prediction markets are classified in the United States. The central conflict is whether event contracts offered through federally regulated market structures can also be restricted under state gambling laws.
The first signal is Bitcoin's reaction after the options expiry. A move away from the US$84,000 area could reveal the market's direction once short-term dealer hedging is reduced.
The third signal is Treasury yields and Federal Reserve expectations. Crypto may struggle to sustain a breakout if yields remain high and investors continue pricing additional rate increases.
The fourth signal is Bitget's withdrawal status and incident report. Users need independently verifiable details about the attack, recovery process and protection-fund deployment.
The fifth signal is regulatory implementation. The Fed's stablecoin proposals, CFTC guidance and New York's prediction-market lawsuit could affect how crypto products are issued, distributed and supervised in the United States.
Crypto markets are steadier today, but the balance of risks remains unusually broad. Bitcoin is holding near US$84,000, ETF inflows are positive and several altcoins are recovering, yet high bond yields and a US$16 billion options expiry continue to limit confidence.
The most significant developments extend beyond price. The Federal Reserve is moving toward detailed stablecoin supervision, the CFTC is opening clearer pathways for tokenized assets, and major UK banks have demonstrated interoperable tokenized deposits with real customer transactions.
At the same time, the Bitget incident and New York's lawsuit against Polymarket show why security and legal classification remain central to crypto adoption. Investors should distinguish between long-term infrastructure progress and the short-term operational risks that can still affect markets without warning.
This article is for informational purposes only and should not be considered financial advice.
Sources: Federal Reserve, CFTC, UK Finance, Securitize, New York Attorney General, Bitget, CoinDesk, Reuters, Yahoo Finance, KuCoin News.