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.
Sota Watanabe, CEO of Startale Group and founder of Astar Foundation, discusses how Japan's snap election could affect crypto tax and regulatory reforms.
As more traders position for downside following Bitcoin’s recent pullback, futures market pressure is building. With key support near $68,000 and resistance at $70,000, technical indicators suggest volatility ahead as the market searches for direction.
As Bitcoin slips back below $69,200 after failing to hold $70,000, onchain data points to a critical long-term support near $45,225 based on the CVDD metric.
