Bitcoin and Ethereum Slide as Fed Rate Cut Fuels Volatility; Aster, AVAX Surge

I. Crypto Market Overview

Key Takeaways

Macro Environment

The US Federal Reserve's first 2025 rate cut to 4.00%-4.25% has heightened crypto market volatility. Gold hit record highs above $3,750/oz as investors seek safe havens amid macro uncertainty. The US-UK Transatlantic Taskforce aims to align digital asset policy, potentially boosting cross-border liquidity.

Crypto Market

The crypto market remains volatile, with Bitcoin down 0.46% at $112,863 and Ethereum down 0.60% at $4,186, pressured by risk-off sentiment and recent liquidations. Altcoins show mixed trends; ASTER surged 46.4%, AVAX rose 11.8%, and MYX gained 10.8%, driven by mainnet launches, DeFi activity, and ecosystem growth.

Today's Outlook

Key US macro data releases today include S&P Global Services, Manufacturing, and Composite PMI Flash, plus Durable Goods and International Transactions, likely impacting risk sentiment. Korea Blockchain Week 2025 IMPACT main conference opens, drawing major industry leaders and global attention to Web3 innovation.

Fear and Greed Index

58.00% Annual Percentile

47 Neutral

Total Crypto Market Cap

$3.90T

0.05%

Total Market Trading Volume

$166.09B

19.12%

Altcoin Season Index

0.00%

Quarterly Percentile

63 / 100

Total Futures Market Open Interest

3.96B

1.14%

Futures

1.11T

23.65%

Perpetuals

II. Industry Updates

Macro-economic Policies

The US Federal Reserve implemented its first interest rate cut of 2025, lowering the benchmark to 4.00%-4.25%, which has triggered increased volatility in Bitcoin and broader crypto markets due to shifting risk sentiment and liquidity expectations.

Gold and silver prices surged to record highs, with gold exceeding $3,750/oz and silver above $44/oz, as investors seek safe-haven assets amid macroeconomic uncertainty, supporting capital inflows into tokenized precious metals and DeFi collateral pools.

The US and UK announced a Transatlantic Taskforce for Markets of the Future, aiming to align on digital asset policy and capital market access, which is expected to enhance cross-border liquidity and institutional participation in crypto markets.

China's central bank injected 300 billion yuan in liquidity via 14-day reverse repos, reflecting a moderately loose monetary stance that may support risk assets and crypto trading volumes in the Asia-Pacific region.

US housing and durable goods data releases this week are closely watched, as softening economic indicators could influence Fed policy expectations and impact crypto market volatility and investor positioning.

Cryptocurrency Regulatory Trends

The UAE has announced new crypto tax reporting rules under the Crypto-Asset Reporting Framework, requiring exchanges and wallet providers to share transaction data internationally from 2028, increasing compliance costs and transparency for digital asset businesses.

Nine US lawmakers have urged the SEC to accelerate implementation of President Trump's executive order allowing crypto investments in 401(k) retirement plans, potentially unlocking billions in new institutional inflows and boosting long-term market adoption.

The US SEC will introduce an 'innovation exemption' rule by year-end, enabling crypto firms to launch new products with reduced regulatory barriers, which could spur product innovation and attract more projects to US markets.

Securitize has integrated Ripple's RLUSD stablecoin for instant off-ramps on tokenized funds, supporting on-chain liquidity and aligning with recent US stablecoin regulatory clarity, which may encourage further institutional adoption of tokenized assets.

The SEC will host a public roundtable on October 17 to discuss zero-knowledge proofs and compliance, signaling regulatory openness to privacy-enhancing blockchain technologies and potentially shaping future DeFi compliance frameworks.

ASTER (ASTER): ASTER surged 50.8% in 24h to $2.13 with $2.45B volume, driven by its mainnet launch, APX token conversion, and airdrop campaign, boosting user participation.

Avalanche (AVAX): Avalanche rose 11.8% in 24h to $34.97 with $2.7B volume, fueled by high DeFi activity, ecosystem expansion, and strong cross-chain integrations.

MYX Finance (MYX): MYX Finance gained 10.7% in 24h to $9.98 with $147M volume, supported by its multi-chain perpetual DEX launch and innovative Matching Pool Mechanism.

Smart Money Movements

Strive acquired 5,816 BTC for $675 million and completed a merger with Semler Scientific, raising its total Bitcoin holdings to over 10,900 BTC, valued above $1.2 billion.

Metaplanet purchased 5,419 BTC for $632 million, increasing its total Bitcoin holdings to 25,555 BTC, with an average acquisition cost of $106,065 per coin.

BlackRock reported a $980 million outflow from its iShares Bitcoin Trust (IBIT) on September 23, while also seeing $15.1 million in Ethereum ETF outflows amid market volatility.

A crypto whale acquired 595,580 ASTER tokens for $1.188 million at $1.995 per token, highlighting continued large-scale investment in the ASTER ecosystem.

FG Nexus increased its Ethereum treasury holdings to 50,000 ETH, valued at approximately $210 million, with an average purchase price of $3,860 per ETH as of September 22, 2025.

Events to Watch

Sep 23 (Tue)

US S&P Global Services, Manufacturing, and Composite PMI Flash data released; US Durable Goods, Personal Income & Spending, and International Transactions data published.

Sep 23 (Tue)

Korea Blockchain Week 2025 IMPACT main conference opens in Seoul, featuring Donald Trump Jr. and major industry leaders; Roam joins as sponsor.

Sep 23 (Tue)

US Treasury auctions 2-year notes, potentially impacting yields and risk assets; Swiss National Bank, Sweden's Riksbank, and Bank of Mexico hold monetary policy meetings.

Sep 25 (Thu)

US GDP data for Q3 2025 will be released, providing a key indicator for economic growth and market sentiment.

Sep 28 (Sun)

Jupiter (JUP) will unlock 53.47 million tokens, valued at $25.17 million, potentially affecting market liquidity and price.

Table of Contents

I. Crypto Market Overview

Key Takeaways

Macro Environment

Crypto Market

Today's Outlook

II. Industry Updates

Macro-economic Policies

The US Federal Reserve implemented its first interest rate cut of 2025, lowering the benchmark to 4.00%-4.25%, which has triggered increased volatility in Bitcoin and broader crypto markets due to shifting risk sentiment and liquidity expectations.

Gold and silver prices surged to record highs, with gold exceeding $3,750/oz and silver above $44/oz, as investors seek safe-haven assets amid macroeconomic uncertainty, supporting capital inflows into tokenized precious metals and DeFi collateral pools.

The US and UK announced a Transatlantic Taskforce for Markets of the Future, aiming to align on digital asset policy and capital market access, which is expected to enhance cross-border liquidity and institutional participation in crypto markets.

China's central bank injected 300 billion yuan in liquidity via 14-day reverse repos, reflecting a moderately loose monetary stance that may support risk assets and crypto trading volumes in the Asia-Pacific region.

US housing and durable goods data releases this week are closely watched, as softening economic indicators could influence Fed policy expectations and impact crypto market volatility and investor positioning.

Cryptocurrency Regulatory Trends

The UAE has announced new crypto tax reporting rules under the Crypto-Asset Reporting Framework, requiring exchanges and wallet providers to share transaction data internationally from 2028, increasing compliance costs and transparency for digital asset businesses.

Nine US lawmakers have urged the SEC to accelerate implementation of President Trump's executive order allowing crypto investments in 401(k) retirement plans, potentially unlocking billions in new institutional inflows and boosting long-term market adoption.

The US SEC will introduce an 'innovation exemption' rule by year-end, enabling crypto firms to launch new products with reduced regulatory barriers, which could spur product innovation and attract more projects to US markets.

Securitize has integrated Ripple's RLUSD stablecoin for instant off-ramps on tokenized funds, supporting on-chain liquidity and aligning with recent US stablecoin regulatory clarity, which may encourage further institutional adoption of tokenized assets.

The SEC will host a public roundtable on October 17 to discuss zero-knowledge proofs and compliance, signaling regulatory openness to privacy-enhancing blockchain technologies and potentially shaping future DeFi compliance frameworks.

Trending Tokens

ASTER (ASTER): ASTER surged 50.8% in 24h to $2.13 with $2.45B volume, driven by its mainnet launch, APX token conversion, and airdrop campaign, boosting user participation.

Avalanche (AVAX): Avalanche rose 11.8% in 24h to $34.97 with $2.7B volume, fueled by high DeFi activity, ecosystem expansion, and strong cross-chain integrations.

MYX Finance (MYX): MYX Finance gained 10.7% in 24h to $9.98 with $147M volume, supported by its multi-chain perpetual DEX launch and innovative Matching Pool Mechanism.

Smart Money Movements

Strive acquired 5,816 BTC for $675 million and completed a merger with Semler Scientific, raising its total Bitcoin holdings to over 10,900 BTC, valued above $1.2 billion.

Metaplanet purchased 5,419 BTC for $632 million, increasing its total Bitcoin holdings to 25,555 BTC, with an average acquisition cost of $106,065 per coin.

BlackRock reported a $980 million outflow from its iShares Bitcoin Trust (IBIT) on September 23, while also seeing $15.1 million in Ethereum ETF outflows amid market volatility.

A crypto whale acquired 595,580 ASTER tokens for $1.188 million at $1.995 per token, highlighting continued large-scale investment in the ASTER ecosystem.

FG Nexus increased its Ethereum treasury holdings to 50,000 ETH, valued at approximately $210 million, with an average purchase price of $3,860 per ETH as of September 22, 2025.

Events to Watch

Sep 23 (Tue)

Sep 23 (Tue)

Sep 23 (Tue)

Sep 25 (Thu)

Sep 28 (Sun)

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