Flows: Ethereum spot ETFs added $360 million on Sept 15 (fifth straight day); Bitcoin spot ETFs added $260 million (sixth straight day). US spot ETF inflows remain well above normal ranges.
Momentum vs. conviction: The RSI surged to 78.1, while CVD weakened, and volumes remained flat, indicating strong momentum but limited conviction.
Derivatives: Futures open interest rose to approximately $47.5 billion; perpetual CVD increased to $48.5 million, indicating aggressive buy-side leverage.
On-chain mix: Active addresses slipped, transfer volume increased, fees dipped, with capital moving, but user activity is muted.
Event risk: The Federal Reserve decision tomorrow is the single biggest directional catalyst; reduced hedging (skew down) raises the risk of a volatility surprise.
The departure of Hsiao-Wei Wang leaves the Ethereum Foundation without a permanent co-executive director for the second time this year, as eight senior figures have now left the organization in five months.
The new Fed chair held rates, dropped forward guidance, and delivered a dot plot that reset rate-hike expectations — and in doing so, reminded crypto markets that macro correlation isn't a solved problem.
The listing is not a ban or a finding of wrongdoing, but it signals that Singapore users dealing with Bybit have no regulatory recourse if something goes wrong.
Bitcoin slipped toward $63,000 and ether fell 3.6% as Kevin Warsh's first FOMC meeting produced a dot plot that now projects rate hikes – not cuts – before the year is out.
