BTC Holds $109K as MYX, IMX Lead Gains; Jupiter Token Unlock Today

I. Crypto Market Overview

Key Takeaways

Macro Environment

The Fed's preferred PCE inflation gauge held steady at 2.7% YoY in August, supporting risk-on sentiment after a recent 25bps rate cut. The SEC is shifting toward clearer, innovation-friendly crypto regulation, boosting industry confidence. The U.S. faces an 83% probability of a government shutdown, raising market uncertainty and potential volatility in digital assets.

Crypto Market

The crypto market is mixed after a volatile week, with BTC at $109,549 (+0.04%) and ETH at $4,011 (-0.19%). MYX Finance surged 50.3% on protocol upgrades, IMX gained 10.4% on NFT activity, and QNT rose 5.2% on interoperability news. Most altcoins lagged, while derivatives-driven liquidations and ETF outflows weighed on sentiment.

Today's Outlook

Jupiter (JUP) will unlock 1.75% of its circulating supply, worth $28.89 million, today at 2 PM UTC, potentially increasing volatility for Solana ecosystem tokens. Avalon (AVL) will also unlock 594,000 tokens, valued at about $91,891, which may impact its short-term price dynamics.

Fear and Greed Index

86.00% Annual Percentile

34 Fear

Total Crypto Market Cap

$3.78T

0.05%

Total Market Trading Volume

$100.24B

45.64%

Altcoin Season Index

9.09%

Quarterly Percentile

63 / 100

Total Futures Market Open Interest

3.19B

1.01%

Futures

991.67B

8.23%

Perpetuals

II. Industry Updates

Macro-economic Policies

The Federal Reserve's preferred inflation gauge, the PCE index, held steady at 2.7% YoY in August, with core PCE at 2.9%. This persistent inflation, combined with a recent 25bps Fed rate cut, has supported risk-on sentiment in crypto markets, as lower rates typically enhance BTC and DeFi liquidity.

Major central banks, including the Fed and ECB, have paused interest rate hikes following cooling inflation data. This coordinated move has triggered a global rally in equities and risk assets, boosting investor confidence and supporting capital flows into digital assets and DeFi protocols.

The U.S. faces an 83% probability of a government shutdown as Congress stalls on funding. Each week of shutdown could reduce GDP by $7B and delay key economic data releases, increasing market uncertainty and potentially heightening volatility in BTC and crypto derivatives.

The ECB signaled it will not use its crisis tools to bail out governments, emphasizing price stability as its core mandate. This stance, amid rising eurozone inflation, may sustain EUR volatility and impact cross-border stablecoin flows and DeFi activity denominated in EUR.

Mortgage rates in the U.S. have stabilized in the mid-6% range despite the Fed's rate cut, reflecting persistent inflation and bond market dynamics. Stable rates support gradual recovery in real estate tokenization and RWA DeFi, but affordability constraints may limit broader crypto adoption linked to property markets.

Cryptocurrency Regulatory Trends

SEC Commissioner Hester Peirce publicly apologized for the agency's past enforcement-heavy approach, signaling a shift toward clearer, innovation-friendly crypto regulation, which is expected to boost industry confidence and foster new product development.

The U.S. SEC has streamlined ETF approval processes, with spot XRP and Solana ETFs now under review and decisions on multiple XRP ETF applications expected by mid-October, potentially increasing institutional inflows and market liquidity.

The U.K. and U.S. have launched the Transatlantic Taskforce for Markets of the Future to harmonize global crypto regulation, focusing on stablecoins and tokenized assets, which could facilitate cross-border compliance and institutional adoption.

Transparency International has urged U.S. lawmakers to strengthen anti-money laundering and sanctions controls in pending crypto market structure bills, highlighting ongoing concerns about illicit finance risks in digital asset legislation.

The GENIUS Act, now U.S. law, prohibits stablecoin issuers from offering yield, aiming to level the playing field and enhance investor protection, but has sparked debate over competitive advantages for banks and exchanges.

MYX Finance (MYX): Surged 49.6% in 24h to $14.71 with $363M volume, driven by strong demand for its cross-chain derivatives platform and recent protocol upgrades.

Immutable (IMX): Gained 10.8% in 24h to $0.77 with $117.9M volume, fueled by increased NFT activity and adoption of its zero-gas Layer-2 scaling for Ethereum.

Quant (QNT): Rose 5.2% in 24h to $99.15 with $31.7M volume, supported by renewed interest in interoperability solutions and Overledger network developments.

Smart Money Movements

NBA star Kevin Durant sold over 3,000 BTC for approximately $350 million after regaining access to his Coinbase account, realizing a massive gain from coins purchased at $650 each.

James Wynn took a 3x leveraged long position on ASTER, triggering a 37% price surge and increasing ASTER's market cap from $931 million to $3.74 billion within 24 hours.

Ethereum spot exchange reserves declined as investors withdrew ETH to personal wallets, with on-chain data showing a significant outflow that historically signals potential demand shifts.

The Strategic Solana Reserve expanded by 419,000 SOL in one day, while over $836 million in SOL was transferred to exchanges, reflecting major institutional repositioning.

Sixteen wallets accumulated 431,018 ETH, valued at approximately $1.73 billion, over the past two days via transfers from major platforms including Kraken, Galaxy Digital, and BitGo.

Events to Watch

Sep 28 (Sun)

Jupiter (JUP) will unlock 1.75% of its circulating supply, worth $28.89 million; Avalon (AVL) unlocks 594,000 tokens, about $91,891.

Sep 29 (Mon)

Coinbase to list AUDD and XSGD stablecoins in Australia and Singapore; Eurozone and Spanish CPI data for September released.

Sep 30 (Tue)

Reserve Bank of Australia announces interest rate decision; Effective Interest Rates for August published by Bank of England; TOKEN2049 and Tokenized Capital Summit begin in Singapore.

Oct 1 (Wed)

TOKEN2049 Singapore continues, gathering top Web3 projects and investors; US ISM Manufacturing PMI for September released.

Oct 3 (Fri)

US Nonfarm Payrolls report for September released; Blockchain Association Singapore hosts Digital Assets subcommittee flagship event.

Phemex Crypto Market Daily: BTC Holds $109K as MYX, IMX Lead Gains; Jupiter Token Unlock Today (Sep 28)

Table of Contents

I. Crypto Market Overview

Key Takeaways

Macro Environment

Crypto Market

Today's Outlook

II. Industry Updates

Macro-economic Policies

The Federal Reserve's preferred inflation gauge, the PCE index, held steady at 2.7% YoY in August, with core PCE at 2.9%. This persistent inflation, combined with a recent 25bps Fed rate cut, has supported risk-on sentiment in crypto markets, as lower rates typically enhance BTC and DeFi liquidity.

Major central banks, including the Fed and ECB, have paused interest rate hikes following cooling inflation data. This coordinated move has triggered a global rally in equities and risk assets, boosting investor confidence and supporting capital flows into digital assets and DeFi protocols.

The U.S. faces an 83% probability of a government shutdown as Congress stalls on funding. Each week of shutdown could reduce GDP by $7B and delay key economic data releases, increasing market uncertainty and potentially heightening volatility in BTC and crypto derivatives.

The ECB signaled it will not use its crisis tools to bail out governments, emphasizing price stability as its core mandate. This stance, amid rising eurozone inflation, may sustain EUR volatility and impact cross-border stablecoin flows and DeFi activity denominated in EUR.

Cryptocurrency Regulatory Trends

SEC Commissioner Hester Peirce publicly apologized for the agency's past enforcement-heavy approach, signaling a shift toward clearer, innovation-friendly crypto regulation, which is expected to boost industry confidence and foster new product development.

The U.S. SEC has streamlined ETF approval processes, with spot XRP and Solana ETFs now under review and decisions on multiple XRP ETF applications expected by mid-October, potentially increasing institutional inflows and market liquidity.

The U.K. and U.S. have launched the Transatlantic Taskforce for Markets of the Future to harmonize global crypto regulation, focusing on stablecoins and tokenized assets, which could facilitate cross-border compliance and institutional adoption.

Transparency International has urged U.S. lawmakers to strengthen anti-money laundering and sanctions controls in pending crypto market structure bills, highlighting ongoing concerns about illicit finance risks in digital asset legislation.

The GENIUS Act, now U.S. law, prohibits stablecoin issuers from offering yield, aiming to level the playing field and enhance investor protection, but has sparked debate over competitive advantages for banks and exchanges.

MYX Finance (MYX): Surged 49.6% in 24h to $14.71 with $363M volume, driven by strong demand for its cross-chain derivatives platform and recent protocol upgrades.

Immutable (IMX): Gained 10.8% in 24h to $0.77 with $117.9M volume, fueled by increased NFT activity and adoption of its zero-gas Layer-2 scaling for Ethereum.

Quant (QNT): Rose 5.2% in 24h to $99.15 with $31.7M volume, supported by renewed interest in interoperability solutions and Overledger network developments.

Smart Money Movements

NBA star Kevin Durant sold over 3,000 BTC for approximately $350 million after regaining access to his Coinbase account, realizing a massive gain from coins purchased at $650 each.

James Wynn took a 3x leveraged long position on ASTER, triggering a 37% price surge and increasing ASTER's market cap from $931 million to $3.74 billion within 24 hours.

Ethereum spot exchange reserves declined as investors withdrew ETH to personal wallets, with on-chain data showing a significant outflow that historically signals potential demand shifts.

The Strategic Solana Reserve expanded by 419,000 SOL in one day, while over $836 million in SOL was transferred to exchanges, reflecting major institutional repositioning.

Sixteen wallets accumulated 431,018 ETH, valued at approximately $1.73 billion, over the past two days via transfers from major platforms including Kraken, Galaxy Digital, and BitGo.

Events to Watch

Sep 28 (Sun)

Sep 29 (Mon)

Sep 30 (Tue)

Oct 1 (Wed)

Oct 3 (Fri)

III. Phemex Market Focus

Phemex Promotions

MIRA CandyDrop: Deposit and Trade to Share 40,000 MIRA!

Stake ETH: Earn Rewards + Airdrops

ASTER CandyDrop

Fiat Fee Promo

Table of Contents

I. Crypto Market Overview

Key Takeaways

Macro Environment

Crypto Market

Today's Outlook

II. Industry Updates

Macro-economic Policies

The Federal Reserve's preferred inflation gauge, the PCE index, held steady at 2.7% YoY in August, with core PCE at 2.9%. This persistent inflation, combined with a recent 25bps Fed rate cut, has supported risk-on sentiment in crypto markets, as lower rates typically enhance BTC and DeFi liquidity.

Major central banks, including the Fed and ECB, have paused interest rate hikes following cooling inflation data. This coordinated move has triggered a global rally in equities and risk assets, boosting investor confidence and supporting capital flows into digital assets and DeFi protocols.

The U.S. faces an 83% probability of a government shutdown as Congress stalls on funding. Each week of shutdown could reduce GDP by $7B and delay key economic data releases, increasing market uncertainty and potentially heightening volatility in BTC and crypto derivatives.

The ECB signaled it will not use its crisis tools to bail out governments, emphasizing price stability as its core mandate. This stance, amid rising eurozone inflation, may sustain EUR volatility and impact cross-border stablecoin flows and DeFi activity denominated in EUR.

Cryptocurrency Regulatory Trends

SEC Commissioner Hester Peirce publicly apologized for the agency's past enforcement-heavy approach, signaling a shift toward clearer, innovation-friendly crypto regulation, which is expected to boost industry confidence and foster new product development.

The U.S. SEC has streamlined ETF approval processes, with spot XRP and Solana ETFs now under review and decisions on multiple XRP ETF applications expected by mid-October, potentially increasing institutional inflows and market liquidity.

The U.K. and U.S. have launched the Transatlantic Taskforce for Markets of the Future to harmonize global crypto regulation, focusing on stablecoins and tokenized assets, which could facilitate cross-border compliance and institutional adoption.

Transparency International has urged U.S. lawmakers to strengthen anti-money laundering and sanctions controls in pending crypto market structure bills, highlighting ongoing concerns about illicit finance risks in digital asset legislation.

The GENIUS Act, now U.S. law, prohibits stablecoin issuers from offering yield, aiming to level the playing field and enhance investor protection, but has sparked debate over competitive advantages for banks and exchanges.

Trending Tokens

MYX Finance (MYX): Surged 49.6% in 24h to $14.71 with $363M volume, driven by strong demand for its cross-chain derivatives platform and recent protocol upgrades.

Immutable (IMX): Gained 10.8% in 24h to $0.77 with $117.9M volume, fueled by increased NFT activity and adoption of its zero-gas Layer-2 scaling for Ethereum.

Quant (QNT): Rose 5.2% in 24h to $99.15 with $31.7M volume, supported by renewed interest in interoperability solutions and Overledger network developments.

Smart Money Movements

NBA star Kevin Durant sold over 3,000 BTC for approximately $350 million after regaining access to his Coinbase account, realizing a massive gain from coins purchased at $650 each.

James Wynn took a 3x leveraged long position on ASTER, triggering a 37% price surge and increasing ASTER's market cap from $931 million to $3.74 billion within 24 hours.

Ethereum spot exchange reserves declined as investors withdrew ETH to personal wallets, with on-chain data showing a significant outflow that historically signals potential demand shifts.

The Strategic Solana Reserve expanded by 419,000 SOL in one day, while over $836 million in SOL was transferred to exchanges, reflecting major institutional repositioning.

Sixteen wallets accumulated 431,018 ETH, valued at approximately $1.73 billion, over the past two days via transfers from major platforms including Kraken, Galaxy Digital, and BitGo.

Events to Watch

Sep 28 (Sun)

Sep 29 (Mon)

Sep 30 (Tue)

Oct 1 (Wed)

Oct 3 (Fri)

III. Phemex Market Focus

Phemex Promotions

MIRA CandyDrop: Deposit and Trade to Share 40,000 MIRA!

Stake ETH: Earn Rewards + Airdrops

ASTER CandyDrop

Fiat Fee Promo