The Federal Reserve cut 25 basis points to 4.25%; FOMC guidance is dovish, and markets now price a 94% chance of an October cut.
Bitcoin moved back above $117,000 intraday; $118,000 remains the dominant liquidation/resistance zone.
Spot ETF flows flipped: Bitcoin ETFs recorded $51.28 million net outflow on Sept 17 (first outflow after seven days of inflows). Ethereum ETFs were roughly flat with $1.89 million outflow.
Exchange deposits: three distinct waves of inflows exceeding $25 million per block in the past 48 hours. This is indicative of partial spot selling into the bounce.
Derivatives split: BTC and SOL perp open interest declined (less speculative long exposure); ETH, XRP, and BNB OI rose, highlighting reallocations within leverage pools.
Bitcoin’s bounce above $64K triggered massive short liquidations and revived ETF inflows, but lingering outflows and weak technicals leave the recovery on uncertain footing.
Luxembourg's regulator grants final CASP authorization, enabling Ripple to provide regulated services across 30 European Economic Area countries following months of regulatory navigation.
MiCA's full enforcement on July 1 reshuffled stablecoin routing. Robinhood's Arbitrum bet is the clearest signal yet that enterprise procurement—not retail volume—is now what determines which L2s capture institutional flows.
