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#BTC现货ETF连续6日吸金超28亿美元
BTC spot ETFs have attracted over $2.8 billion in inflows for six consecutive days, a signal of capital returning that deserves close attention.
First, this marks a key turning point as the cumulative inflow for the year has turned positive for the first time. As of September 24, the net inflow over six trading days totaled approximately $2.84 billion, with a single-day inflow of $999 million on September 21, the highest since October 2025. BlackRock's IBIT contributed the majority of the inflows, absorbing $163 million on September 24 alone, accounting for 85% of that day's total. This means the ETF's capital flow has completely reversed from a low of $5.8 billion net outflow earlier this year to about $800 million net inflow.
Second, the capital structure shows institutions are accelerating their entry. Bloomberg data indicates that since the U.S. Treasury announced an expansion of long-term bond repurchases on August 19, ETFs have accumulated inflows of about $4.6 billion, while Bitcoin rose approximately 35% over the same period. The average ETF holding cost is around $81,700, and the current price has brought average holders back into profit for the first time since January. Institutions voting with real money is more convincing than any narrative.
However, two points should be viewed objectively: first, daily inflows have declined from their peak, indicating weakening marginal buying; second, this rally was accompanied by about $919 million in short liquidations, meaning some buying came from forced cover rather than pure incremental allocation. Whether ETF funds can sustain is the key to validating the quality of this rally.The group most afraid of inflation is increasing their stock holdings, not Bitcoin.
351 family offices manage the money of the wealthiest people globally.
When asked what they fear most: 63% said inflation, up from 37% a year ago.
Last year, tariff concerns ranked first, dropping from 60% to 18% now.
But the reality is: fear or not, the money hasn't been withdrawn.
46% increased their holdings in publicly traded developed market stocks over the past year, while only 12% reduced them.
The net increase is 23 percentage points higher than in the 2025 survey, and only 5% plan to reduce in the coming year.
Families still regard stocks as a key investment direction.
Citigroup Wealth Family Office Consulting Head Alexandre Monnier told CNBC something quite crucial:
They treat risk management as a proactive measure to stay in the market during uncertain times, rather than retreating at the first sign of trouble.
Retail investors are the same.
Stocks account for 39.9% of U.S. household net worth, the highest in Federal Reserve records. Real estate dropped to 19.3%, down by 20.6 points.
Everyone is flocking to stocks; it's not just China’s real estate—U.S. real estate is also exiting the main investment lineup.
What about crypto assets?
3% say they will increase holdings in the next year, 14% say they will reduce.
The most painful part is here: 46% of respondents told Citigroup that there are no obvious barriers to increasing digital asset holdings anymore.
The real obstacles are internal: no one understands it, no governance framework.
It's not that they can't buy, they just don't want to. 🚨 BTC IS SHOWING A STRANGE DIVERGENCE
Spot Bitcoin ETFs pulled in $2.84B over just 6 days, with roughly $538M arriving while BTC was falling.
At the same time, the 10Y yield is hovering near 5% and markets are pricing in another Fed hike in October.
That creates an interesting setup:
Institutions are still absorbing BTC even as macro pressure gets heavier.
The big question now: Is ETF demand strong enough to overpower rising yields, or is the macro pressure simply delayed?
$BTC $XAU$ETH is currently fluctuating narrowly around $2690, with the current price at $2694, down slightly by 0.12% in the last 24 hours. The price remains stable above the $2560–$2660 support zone, which was previously a resistance area, and the technical pattern has not deteriorated for now.
Current market core conflict: This week, two attempts to break above the $2800 level have failed. On September 21, it reached a high of $2807, and on September 23, it surged to $2788. During the second rally, trading volume noticeably shrank, indicating insufficient buying momentum from bulls. A large amount of previously trapped positions are concentrated around $2800, naturally creating heavy selling pressure.
Liquidation highlights: If ETH falls below $2562, long positions across major exchanges will face liquidations totaling $944 million; conversely, if it breaks above $2819 with volume, it will trigger short position liquidations totaling $917 million. Currently, the price is exactly stuck between these two major liquidation zones, with momentum for a breakout steadily building.
Macro pressure: The 10-year US Treasury yield remains above 5%, with the market pricing about a 70% chance of a rate hike in October. The high interest rate environment continues to suppress risk assets.
#美债长端利率持续攀升，融资压力升温 Let's talk about the current market landscape:
There is a clear rotation of funds in the market now. Altcoins are taking turns to soar, with capital temporarily withdrawing from mainstreams like Ethereum, which is the core reason for its current sideways consolidation.
But remember, in a complete bull market cycle, the mainstream won't be absent.
ETH's narrative, ecosystem, and the market foundation of derivatives are all in place. When this wave of lively speculation in altcoins settles, funds are very likely to flow back to the mainstream.
However, the mindset must be correct: don't blindly rush at the current price; wait for a pullback.
Strong assets in a bull market are not afraid of pullbacks; a pullback is not a bear market but a consolidation.
Only after short-term profit-taking and turnover are completed, and selling pressure is fully released, can the market push upward toward 3000 more sustainably and steadily. $BTC $ETH $ZEC #BTC现货ETF连续6日吸金超28亿美元 #BTC现货ETF连续6日吸金超28亿美元
The US spot Bitcoin ETF has been positive for 6 consecutive trading days, with a cumulative net inflow of about $2.84 billion, pulling the net amount for the year from about -$5.5 billion at the end of June back up to +$787 million.
Key highlights:
• Nearly $999 million inflow on Monday alone, the highest single-day inflow in 2026
• BlackRock IBIT absorbed about $1.35 billion over six days, accounting for almost half
• About $2.56 billion inflow since September, with $3.52 billion in August
• BTC price recovered from less than 58,000 in June to the 84,000–87,000 range, with ETF buying and price recovery happening simultaneously
But don’t just focus on the total amount.
Net inflow on Thursday dropped to about $191 million, an 81% pullback from Monday’s peak, indicating marginal enthusiasm is cooling. The coin price is stuck near 85,000, with US Treasury yields, options expirations, and macro interest rate expectations all suppressing risk appetite.
In other words:
Big money is coming in, but it’s not reckless; ETFs are acting as "support buying," not yet a "short squeeze rocket."
Don’t recklessly add leverage in your operations.
Continued net inflow + holding above 85,000 → trend continuation
Inflow zeroes out or turns negative + breaks below 83,000 → deeper pullback
IBIT dominating alone indicates other ETFs haven’t gone into full frenzy yet.
This wave isn’t retail hype; it’s traditional wealth management reallocating BTC.
Six consecutive days of ETF buying doesn’t mean it will break 90,000 tomorrow; but six days of buying also doesn’t mean you should naked short.Don't just focus on the crypto circle when watching it. Tomorrow, Trump is going to launch an AI-driven government website America.gov, with giants like Jensen Huang and Elon Musk attending to endorse it.
I'm not commenting on whether the website is good or not; what I care about is another layer of signal: when a narrative heats up so much that even the White House personally gets involved and industry leaders gather to back it, it often means the sentiment has already reached a very high level. Historically, when governments and celebrities cluster to endorse a certain sector, it is often close to a phase peak rather than a starting point.
AI is a real trend, I don't deny that. But "real trend" and "worth chasing at the current price" are two different things. Risk assets are correlated, and those watching $BTC should also keep an eye on this signal.🚨 ZCASH ETF JUST CROSSED $1B IN AUM.
But the composition is more interesting than the headline.
Grayscale’s ZCSH reached $1B, with $306M in cumulative net inflows.
Less than 30% of that $1B came from those inflows.
And even the $306M needs an asterisk: $100M came from DCG in an in-kind ZEC swap.The whale who sold $ETH at a loss sneakily bought back again; this kind of move is more honest than any research report.
1. On-chain monitoring detected: a whale who previously liquidated over ten thousand ETH around 2252, yesterday spent nearly twenty million dollars to buy back 7,567 ETH.
2. On the day of breaking through 2700, short positions were liquidated for 170 million dollars; Hyperliquid $HYPE holds $3 billion in ETH positions but the fee rate is only slightly positive, indicating the rise is driven by spot, not overheated.
3. The Sepolia testnet fork targets the window from the end of the month to early October, with ordinary transfer gas fees dropping by up to 70%. This is the next narrative baton after Fusaka.
4. The story of Aave submitting an institutional version proposal continues: qualified custody of $BTC /ETH collateral to borrow stablecoins, DAO funding fifty million dollars to build the pool. The RWA institutional pipeline has thickened again.
My thought: first watch 2950. The dealer buying back is stronger than anything else, hold on.Here's an easily overlooked but very telling signal: volume. Today, the volume ratios across most timeframes are hovering around just a few tenths, extremely low volume.
In plain language: big money is basically on the sidelines; no one is willing to throw a lot of cash at this level. And an extremely low-volume choppy market is exactly a meat grinder for retail accounts—you think you're buying low and selling high, but you're actually just paying fees to the exchange. Without any clear direction, going back and forth will only slowly erode your principal.
$BTC has been grinding within a narrow range these past few days. My approach is pretty boring: if there's no clear breakout signal, I trade less. Liquidity is even thinner on weekends, so it's especially important to keep your hands off during times like these. Watching the show is also a position.#Strategy提议为优先股发放每日股息
Message from the leader
Strategy proposes changing the dividend of the four preferred stocks to be accrued daily, including weekends and holidays, with payment on the next working day. Shareholders will vote on October 28. The dividend rate remains unchanged, and the payment obligation does not increase. The sole purpose is to shorten the reinvestment waiting time and make preferred stocks easier to sell.
Preferred stocks are Strategy's core financing tool for buying coins. This year, preferred stocks have been continuously issued, followed by increasing BTC holdings. Now, by increasing the dividend frequency, the essence is to enhance the attractiveness of this tool, facilitating continued borrowing to buy coins.
If approved, demand for preferred stocks will rise, financing capacity will strengthen, and the pace of BTC treasury expansion may accelerate. Conversely, if the market does not accept it, financing will be hindered, resulting in less money to buy coins.
After BTC surged to 87,000 and then pulled back, I missed this wave and will not chase the high. I will wait for a pullback to see if 84,000 to 85,000 can hold before considering light buying. The Federal Reserve just raised interest rates, the 5-year US Treasury yield broke 5%, and the high-interest-rate environment remains unchanged, so I will not heavily bet on direction. $BTC $ETH $ZEC
The above analysis is time-sensitive; orders must have stop-loss set. Good luck.#BTC现货ETF连续6日吸金超28亿美元
This data looks quite contradictory, let me break it down for you.
On one hand, ETFs are aggressively attracting capital. As of September 24, the US Bitcoin spot ETF has seen net inflows for six consecutive days, totaling over $2.8 billion.
On the other hand, the speed of money coming in is visibly slowing down. Although inflows continue, the daily scale has dropped for three consecutive days, falling to $191 million on September 24, significantly shrinking compared to previous days.
What’s even more conflicting is the macro environment. The Federal Reserve has just resumed rate hikes, and market expectations for further hikes in October have surged above 70%. The US consumer one-year inflation expectation jumped from 4.0% to 4.6%. The 30-year Treasury yield also broke above 5.5%. With money this expensive, risk assets should have been drained by now, yet those ETF institutions are still pouring in.
So what impact does this have on the crypto space? I’ll explain in two layers.
First, institutions are pricing Bitcoin with real money. In an environment of rising rate hike expectations and long-term yields soaring to 5.5%, the fact that ETFs can still see net inflows for six consecutive days indicates that institutions no longer simply treat Bitcoin as a high-beta risk asset to speculate on, but as part of asset allocation. Once this logic is continuously validated, Bitcoin’s valuation ceiling will gradually be raised.
Second, the slowing inflow speed shows that off-exchange funds are starting to hesitate. Money is still coming in, but the momentum is weakening. Whether ETFs can continue to absorb this is the key to determining if the market will go up or down.#BTC现货ETF连续6日吸金超28亿美元
The macro environment is full of alarm bells. The U.S. September one-year consumer inflation expectations surged from 4.0% to 4.6%, October rate hike expectations once exceeded 70%, and the 30-year U.S. Treasury yield directly broke through 5.5%. Normally, in such an environment, risk assets should be heavily suppressed.
But the Bitcoin spot ETF has seen net inflows for 6 consecutive trading days, totaling over $2.8 billion. On September 21 alone, net inflows were nearly $1 billion, hitting a new high for 2026. Bitcoin dropped from 87,000 to below 84,000, yet ETF money kept flowing in.
This shows institutions simply don’t care about short-term rate hikes. They focus on the long-term logic of sovereign credit devaluation and declining fiat purchasing power. Rate hikes suppress valuations in the short term, but as long-term interest rates remain high, the credit cracks in the fiat system widen, increasing Bitcoin’s value as a hedging tool.
But don’t get too excited yet. The daily inflow scale has declined for three consecutive days, dropping from $1 billion to $191 million on September 24. Marginal momentum is weakening. If ETF inflows continue to shrink or even turn into net outflows while rate hike expectations heat up, Bitcoin may face a deeper pullback. $BTC $ETH $ZEC OKX opens 2Z Flash Profit subscription at 3 PM, with BTC and OKB sharing 85% of the 5.5 million token prize pool
OKX will open the 2Z Flash Profit subscription at 3 PM today, with BTC and OKB taking 85% of the 5.5 million token prize pool. Users holding spot assets who deposit before the event officially starts can still earn regular interest from Simple Earn.
I have reviewed the detailed rules in the announcement. This event runs from October 2 to October 8, with subscription opening one week early today. The total prize pool is 5,500,000 2Z tokens, of which the BTC pool takes 3.85 million tokens, the OKB pool takes 825,000 tokens, and the SOL pool takes 550,000 tokens. The Tier 1 limit for regular users is 1 BTC, 200 OKB, or 400 SOL, with a minimum investment threshold of only 0.001 BTC or 1 OKB. SOL borrowed through lending does not count as valid quota.
This morning, I confirmed the entry on the App's "Finance - Earn" page. Redemption is instant anytime. Rewards not claimed after the event ends will be credited to the funding account within 4 hours, and the principal will remain in the flexible finance product. I transferred my idle OKB from the spot account to the earn account. Holding spot at 121.63 USDT is also waiting for market movement, so at 3 PM I will first put it into the pool to earn double returns.87.4K didn't pass, daily chart shows high-level divergence dulling.
Price goes down, OI also goes down.
First, a round of leverage is washed out at the high level.
Next, let's see if 84K can hold. #BTC现货ETF连续6日吸金超28亿美元 Bitcoin today (September 26, 2026) is weakly fluctuating near $84,000, slightly down from yesterday, with the core conflict being institutional buying support vs. macro headwinds.
Key Price Data
· Current price: approximately $84,000–84,077, 24-hour decline about 0.19%–0.68%.
· Recent high: touched above $87,000 earlier this week, then retreated.
Bearish Pressure (Why it can't rise)
· US Treasury yields surge: 10-year Treasury yield hit 5.22%, the highest since 2007, significantly increasing the opportunity cost of holding the non-yielding asset Bitcoin.
· Exchange hack: Bitget exchange was hacked, with about $352 million in assets stolen, reigniting market concerns over exchange security.
· Rising rate hike expectations: market expects a 71% probability of a 25 basis point rate hike at the October FOMC meeting.
Bullish Support (Why it doesn't fall deeply)
· ETF funds still inflowing: US spot Bitcoin ETFs have had net inflows for 5 consecutive trading days recently, totaling about $2.65 billion, with BlackRock's IBIT as the main contributor.
· Miner selling pressure easing: JPMorgan points out that if Bitcoin price can hold at $85,000 (estimated production cost) ETH is closely watching this position tonight, with a $900 million long-short showdown
$ETH current price 2,692, don’t be fooled by this 0.01% fluctuation. Beneath the calm surface, both longs and shorts are placing chips on two lines: $2,562 — if broken, mainstream CEX cumulative long liquidation intensity reaches $944 million, bulls will face a stampede-style washout
$2,819 — if broken, cumulative short liquidation intensity reaches $917 million, shorts will be forced to cover and push the price up
In the middle, $ETH has quietly broken the year-long downtrend line but was rejected twice at the $2,800 mark, which is a battleground for longs and shorts.
On-chain signals are bullish: a certain whale just swapped $87 million BTC for ETH and staked it all; the number of non-short wallets surpassed 207 million, a historic high; over 40 million ETH are locked in staking.
Technical signals lean bullish + liquidation pressure is concentrated below, but the $2,800 resistance wall is formidable. $ETH #BTC现货ETF连续6日吸金超28亿美元 $SOL led the gains today, bouncing more than 3% in 24 hours, leaving $BTC and $ETH behind. Many people's first reaction was "catching up, chasing a bit," but I advise you to first understand why it is strong.
Three points: First, its holdings increased by 7% against the trend today, indicating real new capital entering, not just circulating existing funds; second, in the recent day, the ratio of short positions liquidated was nearly four to one, short squeeze is the fuel for this move; third, it is one of the few major coins with bullish alignment across short, medium, and long-term cycles.
The structure is indeed the smoothest. But the parabolic move caused by the short squeeze comes fast and goes fast—strong as it is, don't catch the last wave at the peak of the hype.A group of people gather because of the same narrative/emotion/identity and are willing to spontaneously devote time, attention, or resources to it without external force.
Breaking it down into several layers:
Table
Layer Manifestation Example
Recruiting with referral commissions, group owner issuing orders
Fake community 99% of local TG groups
Command issuing, signal bots
Bought coins, occasionally check prices
Weak community Many altcoin holders
Complain a bit when price drops
Someone makes memes, someone writes Early BTC, DOGE
Jokes, someone translates, someone
True community PEPE, cat meme circles
Build tools, offline meetups
Authors
Organize events, some keep chatting even after losses
Key criteria:
1. If the developers leave, does the community still exist? If yes, it’s real.
2. If the coin price drops 90%, what are people doing in the group? Still making memes, still creating,
still recruiting new members—this is a community.
3. Are there people with "non-financial motives"? Someone purely likes the orange cat, 0x3cfbcebf998a27007326d18cffa5ba9cad041111 The research team Alloc Init published a paper aiming to implement privacy transfers similar to Zcash on the BTC layer one, with the selling point being "no consensus changes, no soft forks."
If it really comes to fruition, it would be a long-term negative for coins like ZEC that rely on privacy narratives — privacy would shift from "buying a dedicated coin" to "a built-in feature of the main chain," eliminating scarcity.
But no need to panic in the short term: there is a long gap between the paper and engineering implementation, and the Bitcoin community is extremely conservative about any feature expansion; just pushing discussions takes years.
So the question arises:
Is Bitcoin's "immutability" truly a moat, or is it a ceiling?Closing out Friday, speaking from the heart: This week I closed my $ETH perpetual short leg, took a small loss, and didn’t stubbornly hold on through the weekend.
One of the most common mistakes retail traders make is that after getting the direction right once, they insist on proving they’re "always right" with a single position. Card players don’t think like that—when the cards change, they switch hands. Taking a small loss isn’t shameful; stubbornly holding until you blow up is. Right now, I mainly hold longs in spot, basically no perpetual shorts over the weekend, keeping it light.
There are plenty more hands to play next week, no need to rush. This week, were you pushed by the market, or did you decide when to step away yourself? In a nutshell: The market is lying flat in the macro meat grinder, but the capital flow of SOL and ETH is releasing a "defection signal" — divergence is opportunity. 🌍 First, look at the big picture: Three major burdens are suffocating the market. The US 10-year Treasury yield surged intraday to 5.22%, the highest since 2007. CME FedWatch shows a 71% probability of a 25bp rate hike in October. Not to mention Bitget exchange was hacked, with about $387 million in assets stolen, both hot and cold wallets compromised, marking the biggest exchange security incident of 2026. But Bitcoin ETFs are buying against the trend — net inflows for six consecutive trading days, accumulating over $2.8 billion. On one side, macro is draining liquidity; on the other, institutions are bottom-fishing. This "long-short struggle" is the core contradiction of the current market. 🟠 BTC: 84K tug-of-war, both bulls and bears are holding back big moves. BTC is currently quoted around $84,022, down 0.68% in 24 hours. The most eye-catching data on the board: BTC liquidations in the past 24 hours reached $65.88 million, with longs accounting for 70% — leveraged longs are being "worn down" bit by bit. The 84,000 level has been tugged back and forth for days, neither breaking up nor down, a typical "choking range." Key signal: ETF funds have aggressively bought $2.8 billion in 6 days, but the coin price remains unmoved. This is not bearish; it is a typical institutional accumulation phase — big money is slowly absorbing retail stop-loss orders. Strategically, as long as 84K is not broken, continue holding the long logic, but leverage... #BTC现货ETF连续6日吸金超28亿美元
The fundamental question is only one: Can this rebound from 77,000 to 87,000 continue relying on spot funds, or will it be interrupted by macro pressure? The suggested observation order is:
First, see if 85,000 can hold — this is the verification point where ETF funds shift from "defensive inflow" to "driving the trend";
After breaking through, watch 87,000 in conjunction with volume; a volume surge above this level opens up upward space, while a low-volume rebound likely means continued range-bound consolidation;
During a pullback, holding 83,000 indicates strong consolidation; if it breaks, look at 79,500–80,000, where if not broken, the mid-term bullish structure remains.
In summary: The trend (weekly level) is upward, and the short-term (daily level) is in a sideways consolidation phase before choosing direction — confirmation of an upward breakout is in the 85,000–87,000 range, and the signal of trend weakening is a break below 79,500.
Data is as of today's 11:28 public market data for reference only and does not constitute investment advice; crypto assets are highly volatile, and position size and leverage should be managed independently.In the SEC's latest statement, one concept is particularly important: the token itself and the investment contract used to sell the token are not necessarily the same legal concept. In other words, if an asset is classified as a security under a specific financing or sale arrangement, it does not necessarily mean the token will remain a security in all subsequent scenarios. The market attributes of $BTC, as well as the long-standing controversies surrounding regulatory boundaries of crypto assets like $ETH, are closely related to this concept. Many regulatory disputes in recent years essentially revolve around one question: 👉 How should the asset itself be distinguished from the transaction arrangement for selling the asset? #BTC #ETH #SEC #CryptoRegulation #DailyOrbit⚖️ The SEC just dropped new FAQs on crypto assets today
And one line in there matters more than the rest 👀
A token and the investment contract used to sell it are not necessarily the same thing. A token can later exist as a non-security crypto asset $BTC
That single distinction is what most of the last few years of enforcement fights have been circling
$ETH #BTC spot ETF has attracted over $2.8 billion in inflows for 6 consecutive days. ETF capital inflows are seen as positive, but I am bearish on BTC
The Federal Reserve resumed rate hikes in September. CME data shows the market prices a 70% chance of another hike in October. The Philadelphia Fed president stated that inflation has not improved enough and does not rule out another rate hike. Long-term U.S. Treasury yields are rising simultaneously.
Many see the large inflows into the BTC spot ETF and firmly turn bullish, believing institutional entry will push BTC higher.
However, my view is the opposite, leaning bearish for two reasons:
1. Macro level: The ongoing tightening monetary policy and rising U.S. Treasury yields suppress risk asset valuations. This overall environment is unfavorable for BTC strength.
2. Market level: BTC is currently priced at 84061.5, consolidating around 84000, hitting a high of 85258 before facing heavy selling pressure and pulling back. The ETF inflows are short-term pulses and unlikely to counteract tightening liquidity in the long run. Once inflows slow, the current balance between bulls and bears can easily break.
Do not chase longs; consider shorting on rebounds to resistance levels. $BTC #BTC现货ETF连续6日吸金超28亿美元 #美债长端利率持续攀升，融资压力升温 Scumbag observation on SPCX update 9.26
Big Rocket US stock closed at 148.68, up 0.44%, intraday high 149.665, low 146.00
Big Rocket still closed above the 20-day moving average. The downward spike did not create a new low.
SPCX computing power leasing
Another 220k GB300 will be fully operational next week and another 220k in November. If we get lucky, yet another 220k GB300 by late December.”
Previously, Google leased 110,000 GPUs at a price of $930 million/month and most likely they were GB200,
Now with 220,000 GB300, rental income should reach $2 billion/month, corresponding to 0.3GW power consumption. Annualized revenue is $24 billion. Conservatively estimating, 440,000 GB300 units can bring $48 billion annualized revenue. With good luck, 660,000 GB300 units could generate $72 billion revenue. A very good business that can quickly scale up. Enough to support the current SPCX market value. $SPCX #BTC现货ETF连续6日吸金超28亿美元
The Federal Reserve resumed rate hikes in September, with inflation expectations and Treasury yields rising in tandem, significantly heating up market bets on continued policy tightening. However, the crypto market has shown capital flows contrary to macro pressures: the US Bitcoin spot ETF recorded net inflows for six consecutive trading days, cumulatively attracting over $2.8 billion, including nearly $1 billion inflow on September 21 alone, setting a record for 2026. Even though BTC prices fell from above $87,000 and briefly dropped below $84,000, the ETF channel has not turned to net outflows.
But marginal changes have appeared. Daily inflows have declined for three consecutive days, with only about $191 million on September 24, shrinking by more than 80% from the peak. This indicates that allocation funds have not yet withdrawn, but the willingness to chase highs is weakening. Against the backdrop of continued strengthening rate hike expectations, whether ETF funds can maintain net inflows will determine if BTC spot demand continues to be supported or gradually loses this key backing. $BTC $ETH $SOL In a world where asset ownership becomes crucial, the most valuable skill is "being able to accurately identify non-consensus opportunities and daring to put significant capital into them."
Breaking it down, this statement contains two essential abilities, neither of which can be missing.
The first is identification — finding that undervalued asset when no one else understands it;
The second is betting — understanding it and still daring to go all in, otherwise the insight cannot be monetized.
Most people get stuck at the second level because going all in means admitting you might be wrong and enduring pressure when the market unanimously disagrees.
So what is truly scarce is not just vision, but the combination of "vision + courage + capital," plus enough patience to wait for the market to acknowledge it.$ETH ETH today (September 26) is fluctuating narrowly around 2690 USD, currently quoted at about 2694 USD, down slightly by 0.12% in 24 hours. The price remains above the previous resistance-turned-support range of 2560–2660 USD, and the technical structure is still intact.
Core conflict: ETH attempted to break 2800 USD twice this week but was rejected both times (September 21 high at 2807, September 23 high at 2788), and the volume significantly shrank during the second attempt, indicating insufficient buying confidence. There is heavy selling pressure near 2800 USD due to a large amount of last year's high-level trapped positions waiting to be released.
Liquidation risk: If ETH falls below 2562 USD, the cumulative long position liquidation intensity on major CEXs will reach 944 million USD; conversely, if it breaks above 2819 USD, short position liquidation intensity will reach 917 million USD. The current price is exactly between these two liquidation concentration zones, with volatility energy accumulating.
Macro suppression: The 10-year US Treasury yield remains above 5%, and the market prices in about a 70% probability of a rate hike in October. The high interest rate environment continues to suppress risk asset valuations.
Operational reference: 2600–2650 USD is the short-term dividing line between strength and weakness; holding this range still offers a chance to retest 2800 USD; losing it may accelerate a drop toward around 2500 USD. Before the direction is clear, it is advisable to observe with a light position.(Er Bing) $ETH My take:
Let's speak plainly, no mystical stuff.
Whether this wave can reverse depends on whether 2705 can be reclaimed. If it can't, it's weak—don't fool yourself into expecting a big rebound. To look higher at 2740 or even 2785, 2700 must first be broken with volume and hold above it. If it doesn't hold, forget about those higher levels for now.
As long as the trendline holds, don't panic; 2635 might not be tested immediately. Once the trendline is lost, the price will likely oscillate between 2700 and 2635. 2635 is critical short-term: if it holds, it can still consolidate; if broken, the structure looks bad and the bottom may be tested further.
How to act, keep it simple:
If 2700 breaks up with volume, go long; if it falls back, cut losses.
If 2685 breaks down with volume, go short; don't hold on stubbornly.
If it pulls back to 2635 and holds, you can try going long; if 2600 breaks, exit.
Only if the hourly chart holds above 2700 can you aim for 2740-2785.
You can try shorting near 2745, with stop loss if 2785 breaks.
If it dips to 2585, you can buy the dip; if 2560 breaks, take the loss.
If the 4-hour chart breaks below 2670, look first at 2635, if that fails then 2600.
Resistance above: 2700, 2740, 2785
Support below: 2685, 2635, 2600
Be clear on this, don't imagine a big move ahead prematurely.$ONE rose 41% today.
It's not that the fundamentals have changed, it's that the price has dropped too much. On September 22, it was still at 0.0056; on September 25, it dropped to 0.00188—a 66% drop in a day and a half. Today's bullish candlestick is an oversold rebound, not a new story.
I checked hourly data: volume ramped up from 01-04 a.m., 41.87 million transactions at 02:00, 34.23 million at 03:00, and maintained at 20 million+/hour from 07:00 to 10:00. This pace is less like retail investors bottom-fishing and more like orderly accumulation.
Current price is 0.00255, and the daily K shows a high of 0.00271. That's a 58% loss from the high of 0.00607.
So here's the question: $ONE Where can the rebound go this time? I tend to think 0.003-0.0035 is the first resistance zone—the chip-dense zone before the September 25 crash, trapped by many people.
Do you think 0.003 can hold on?#Aave支持代币化美股抵押借USDC Aave V4 launches Equities Hub on Base, allowing non-US users to use 7 types of Coinbase tokenized US stocks as collateral to borrow USDC, opening new RWA lending scenarios. 👉🏻Short-term impact This feature just launched, with a modest initial limit: total stock collateral cap is about $29 million, USDC borrowing cap is $21 million. Short-term pull on overall TVL is limited, but the news itself is fresh and likely to generate buzz. Both the Aave team and Chainlink are promoting it, so community discussions will increase, and $AAVE price may see a slight boost following sentiment📈. Don't expect overnight doubling; the market is already familiar with RWA, so the reaction will likely be mild and positive. 👉🏻Long-term impact 🔥The really interesting part is the direction.🔥 Previously, tokenized stocks were mainly for holding and trading; now you can directly collateralize them to borrow stablecoins without selling your exposure. This effectively brings traditional US stock assets into the DeFi lending pool. Aave V4's Hub-Spoke architecture isolates risk cleanly, and more stocks and GHO can be added later. If successful, institutional funds and non-US holders will gradually join, increasing protocol fees and governance demand. This is a solid positive for platform tokens like AAVE that rely on protocol growth. 👉🏻Overall assessment Mostly positive. Short-term sentiment boost, long-term expansion of scenarios, user base, and revenue. Not a sudden spikeEthereum’s recovery looks stronger than the ETF flow data might suggest. 📉 U.S. spot ETH ETFs saw roughly $140M in net outflows for the week ending Sept. 18, breaking a four-week streak of inflows. Normally, that kind of institutional selling could put serious pressure on price. But ETH held up. 🔥 Instead of collapsing, $ETH continued to show resilience and maintain strong momentum. That divergence between ETF flows and price action is what has my attention. For traders, the key now is simple:Currently, BTC remains in a high-level consolidation phase, with the price repeatedly tugging around the 4-hour Bollinger middle band. There is repeated selling pressure near 85,200 above; although bulls continue to attempt a breakout, no effective hold has been established yet. Meanwhile, recent highs are gradually moving lower, and short-term bullish momentum is weakening, so the current view still leans cautiously bearish. But note: bearish ≠ immediate shorting. One of the biggest risks in a consolidation market is mistaking directional judgment as an entry signal. Without a true structural breakdown, rash shorting can easily lead to repeated stop losses. 🔻 Current key areas Resistance zone: 85,200–86,200 If BTC can break out with volume and stabilize above 86,200, the short-term structure will significantly improve, and the current bearish view needs to be reassessed. Core support: 82,800–83,100 This remains an important defensive area on the 4-hour level. If the price breaks below this range accompanied by a clear volume-increased bearish candle, it indicates the consolidation structure may start weakening downward, which is a key bearish confirmation signal to watch. Lower defense: 80,500 Around 80,500 is the important foundation of this rally. Once the core support is lost, and the price further falls to this level, caution is needed for more significant changes in market structure. 📉 Current market nature It is not a very clear one-sided market now, but a continuous battle between bulls and bears at high levels. On the macro front, long-term US Treasury yields remain at$ZEC reminded me that easy money isn’t always easy.
Had 4 trades yesterday, lost 1, and fees cut the overall profit nearly in half.
Today, I’ll wait for the right setup before trading again. 👀📊$BTC
$ETH #BTCETFInflowsSplit Looking at the recent security incidents, it feels like "no platform is completely safe," so you really need to be extra cautious with your on-chain assets.
Remember to revoke authorizations you don't use often, keep only the funds you need for trading on exchanges, store your mnemonic phrases offline, and properly segregate long-term assets.
If you're planning to switch wallets and have a lot of assets, you can use UniSat's UTXO management tool to categorize, view, and batch migrate them, reducing manual repetitive operations.
Test with small amounts first before executing in batches, and verify rare satoshis separately.
#BTC现货ETF连续6日吸金超28亿美元 Brothers, SNDK stands at 1770, but the CEO continues to reduce holdings at high levels.
$SNDK $1,777
SanDisk closed at $1,777.80 on Friday, up 1.38%, and slightly fell to around $1,772 after hours. After pulling back from the September 9 high of $1,807, it has been oscillating between $1,740 and $1,815 this week to digest gains. Rosenblatt Securities initiated coverage on September 22 with a "Buy" rating and a $2,400 target price, with the core logic that AI is transforming NAND from a "cheap commodity" into a "system-critical component of AI infrastructure."
CEO sold $53.27 million worth, S&P 100 positive news implemented
But one signal is worth noting: CEO David Goeckeler reduced 33,841 shares through 15 transactions on September 17, cashing out about $53.27 million, executed under the 10b5-1 plan established in May. Analyst consensus target price is $2,137, with 17 out of 25 covering firms rating it a "Strong Buy."
Discuss in the comments, which do you trust more: CEO selling or institutional buy calls?👇
#BTC现货ETF连续6日吸金超28亿美元
#闪迪获Rosenblatt买入评级，目标价2400美元 Day 27, single-day loss of ¥14,578.21. Cumulative profit and loss dropped to -¥14,578.21. $BTC $ETH
Three consecutive losses, all three amplified — -1.7K, -8.1K, -14.5K. The curve is telling me a simple truth: losing money is not scary; what’s scary is losing money in exactly the same way.
On September 25, Bitcoin fluctuated repeatedly between $84,000 and $85,000. It once surged to $85,224 during the session, then fell below $84,000, experiencing a full rise and fall within 24 hours. Ethereum stood above $2,700, rising over 2%. On the surface, the market seems to be stabilizing.
But beneath the surface, pressure continues to build. CME FedWatch data shows the probability of a rate hike in October has risen to about 75%, and the probability of a rate hike in December has risen to 59%. Fed’s third-ranking official Williams publicly stated that another rate hike this year is a “reasonable” expectation, with inflation having been above target for five consecutive years. Philadelphia Fed President Harker also signaled further tightening. U.S. Treasury yields continue to climb, with long-term yields reaching the highest levels since 2004.
For Bitcoin, which does not generate interest, this means holding costs are rising and liquidity is being squeezed.
Liquidation data is also worth noting. In the past 24 hours, about $300 million worth of liquidations occurred across the network, including $180 million in short liquidations and $121 million in long liquidations. The day before, shorts were wiped out; today, longs are under pressure — the long-short meat grinder never stops.
And I lost another ¥14,578 in this meat grinder. Three consecutive days of losses feel like repeating the same cycle: seeing a market rebound, emotions rise, position size increases, then getting swept out by the market’s next wave of volatility. I’m not trading; I’m being led by the market’s rhythm.
It’s been twenty-seven days. From +¥43,281 to consecutive losses, to today’s -¥14,578, this curve tells me a simple fact: in the face of a 75% chance of rate hikes, U.S. Treasury yields above 5%, and 3.4% core inflation, any position based on gut feeling is fragile. Tomorrow will bring new data, new speeches, new volatility. What I need to do is not guess, but stop first and clearly see where I stand.#BTC spot ETF has attracted over $2.8 billion in inflows for 6 consecutive days. Despite bearish pressure from US Treasury bonds, ETF funds are entering the market against the trend! The spot buying power for Bitcoin is very strong.
Brothers, a very key signal has recently appeared in the market: expectations for Fed rate hikes are heating up, long-term US Treasury yields are rising, and the macro environment is clearly bearish, yet BTC spot ETF funds are showing a counter-trend net inflow.
Regarding this, I am bullish on Bitcoin:
1. Net inflows have been maintained for 6 consecutive days, with a cumulative inflow exceeding $2.8 billion.
2. On September 21, a single-day inflow approached $1 billion, setting a new single-day inflow record for 2026.
3. Even though Bitcoin fell from above 87,000 and briefly dropped below 84,000, ETF funds have not stopped entering the market.
The incoming funds belong to long-term institutional allocation capital, not short-term speculative funds, and will not easily exit due to short-term market fluctuations.
Funds continue to flow in during the pullback phase, indicating institutional recognition of the current price level; the decline is an opportunity to add positions.
ETFs continue to buy to lock in circulating chips, reducing market sell pressure and forming a strong support level below Bitcoin.
Real money continues to enter, which is the core bullish confidence of this round of the market. $BTC #BTC现货ETF连续6日吸金超28亿美元 #美债长端利率持续攀升，融资压力升温 ARK tokenizes $1.3 billion venture capital fund: The real thing being put on-chain is not the asset Many people see ARK tokenizing a $1.3 billion venture capital fund and their first reaction is "RWA is another positive for Ethereum." But what I think is truly worth paying attention to is not this $1.3 billion itself, but that traditional finance is starting to turn "fund shares" themselves into on-chain objects. Previously, blockchain's approach to entering traditional finance was to "put US Treasuries, stocks, and funds on-chain"; now the logic is changing—traditional finance is proactively using blockchain to redesign the issuance, subscription, registration, and settlement methods of assets. The venture capital fund tokenized by ARK this time essentially did not turn underlying assets like OpenAI, Anthropic, Stripe into freely tradable tokens, but instead put the "fund shares" held by investors on-chain. This implies a very interesting potential change in the future: Previously it was "assets adapting to blockchain," but going forward it might be "financial products designed from inception according to blockchain rules." Once this trend is established, the impact will go far beyond RWA. Funds can be on-chain, stocks can be on-chain, bonds can be on-chain, and even private equity, real estate, and credit products may exist as on-chain shares in the future. Once these assets enter the chain, stablecoins will naturally have settlement demand, and public chains like Ethereum and Solana may gradually transform from "crypto asset trading venues" into issuance and settlement networks for traditional finance. This is also why I think the ARK event is the most interesting aspect.Almost every trader harbors a deep conviction: hoping every position opened is the right one.
But reality doesn’t follow expectations; even top traders frequently make mistakes.
In this trade with SOXL, Xiao Ma anticipated resistance and opened a short position, but the market moved in the opposite direction, causing the account to show an unrealized loss.
Making a mistake isn’t failure; refusing to admit the mistake and unwillingness to exit is the real source of risk.
The market never offers 100% accurate predictions forever; profits and losses are inherently part of trading.
The key to trading isn’t winning every trade, but knowing how to cut losses promptly when wrong, keeping losses within a controllable range.
Don’t deny yourself just because of one wrong trade.
Accept that you will make mistakes and let go of the obsession with "being right all the time."
The market always presents new opportunities; preserving your capital is what grants you the right to keep playing.
⚠️Note: This is only Xiao Ma’s personal trading insight and does not constitute any investment advice. Contract leverage carries very high risk.
$BTC $ETH $SOXL
#BTC现货ETF连续6日吸金超28亿美元
#美债长端利率持续攀升，融资压力升温
#财报观察员：好市多业绩超预期，美光接棒 $SNDK fundamentals are the floor, interest rates are the ceiling, and the pricing in between depends on the earnings report.
$SKHYNIX seeks stability, Micron seeks a catch-up rally, SanDisk seeks a story.
Price increases are still happening, just at a slower pace — this is the most dangerous position.
Hynix fears losing market share, Micron fears the cycle, SanDisk fears no one believes its story.
Before the report on September 30th is released, all three are half-baked logics.The recent market has been good, with BTC rising more than 40% in a short time, now at 84,000, and it’s still going up. Many people are already eyeing 95,000!
When I first entered the crypto space, I always thought that in a bull market, you should be bolder.
BTC goes up, altcoins follow, and people in the group double their money every day. If you don’t go all in at this time, isn’t that wasting the opportunity?
Later I realized that the more people understand, the worse the odds usually get.
In a previous market cycle, I made good profits early on and my account grew a lot, but I still felt the returns weren’t enough.
I was afraid to buy at low prices early on, and when the trend was confirmed and sentiment was hottest, I started leveraging and chasing small coins. My goal changed from making 30% to having to double my money. As a result, a normal market correction wiped out more than half of the profits from the previous months.
At the start of a market cycle, prices are low and opinions vary widely; those willing to take on uncertainty get the high odds. Later in the cycle, news is better and consensus stronger, but the cost basis is also higher.
At this point, the risk seems lowest, but in reality, new buying is decreasing. Any positive news that falls short of expectations can trigger crowded trades to exit together.
So the hotter the market, the more I focus not on how much more it can rise, but on how much I’m willing to give back if there’s a sudden pullback. Appropriately reducing positions, taking profits, and lowering leverage is not bearish; it’s about not letting greed overturn trades that have already been right.
Remember: the better the market, the easier it is to make money, but the harder it is to hold onto profits. A truly mature bull market strategy is not about riding every single rise, but about not betting back all your previous gains when you’re most excited.The wealthy are not good at spending, but they are extremely good at "not spending."
Their lifestyle is intentional—
being extremely frugal in areas that mean nothing to them, and lavishly spending where it truly matters.
Ordinary people often do the opposite: they are unguarded with small daily expenses—milk tea, subscriptions, impulse purchases add up—but hesitate when it comes to truly important asset allocation.
"When I first considered buying $BTC, I hesitated and ultimately missed out."
Wealth accumulation is largely not an income issue, but a distribution issue.
Where you spend your money is a vote deciding what kind of person you will become. That stuck feeling teaches you what charts never can. My biggest takeaway: stop predicting the left side of the chart and start respecting the plan. No unnecessary leverage above 10x. No entries outside my setup. No chasing green candles. And when the market gives me profit, I’m taking some off. $BTC has recovered more than 50% from the recent low, while monthly RSI remains above 50. ETF demand and corporate accumulation are also helping support the broader recovery. But I’m not calling a full bShorting $ETH on this leg, many people only focus on the price difference fluctuations, overlooking a steady stream of money flowing into their pockets — the funding fee.
Currently, the perpetual funding rate is positive, which means longs pay shorts, settled every 8 hours. In other words, as long as this short position is open, even if the price direction remains unchanged, the account is gradually earning interest. This is the most comfortable aspect of low-frequency large bets:📈 Michigan's 1-year inflation expectations just jumped to 4.6%, up from 4% last month
And the 5-year reading climbed to 3.4% — the highest in 4 months
That's two straight signals that consumers don't think this inflation story is over
The Fed's usual answer is to hike aggressively, the way it did in 2022 $BTC
But here's the problem nobody wants to say out loud
US long-term yields are already sitting at 19+ year highs, and total debt has passed $40 Trillion
$ETH After Bitcoin fluctuated around 85,000, the price slightly pulled back and remained above the upper boundary of the channel.
The trend channel continues to move upward, with today's upper boundary at 79,977 and the lower boundary at 77,667.
Currently, except for the daily-level structure, there are no structures in other timeframes.
The daily structure closed decisively; according to trading standards, a 30% position reduction has been made. This is also the first position reduction after Bitcoin has maintained above the channel for one and a half months.
Calculating from the closing price of 64,730 on August 18, when the price broke above the channel's upper boundary triggering a full position buy standard, to the price of 84,099 at the formation of the daily top structure where the 30% position was reduced, the reduced 30% position yielded a profit of 29.9%.
The trend channel is still moving upward, and the remaining position will be held patiently.
The trend is temporarily safe, but the impact of the daily structure is just beginning. This is also a test of the trend, to see how the market will digest the structure going forward.Hashrate Showdown! When “Core Fundamentalism” Meets a Hard Fork, Which Is the Real Bitcoin?
⚠️This article is only an on-chain ideological review and does not constitute any investment advice
The BTCFi sector has always had a highly misleading narrative: CORE is born relying on Bitcoin’s hashrate, inheriting Satoshi Nakamoto’s spirit, and is the “true evolutionary version of Bitcoin.”
After the 8.31 hard fork incident, this narrative faced its ultimate test. When CORE’s “BTC hashrate fundamentalism” clashes with the native Bitcoin community’s core beliefs, a debate about “who is the real Bitcoin” unfolds.
First, clarify the concepts: here, CORE refers to the CORE public chain with Satoshi Plus hybrid consensus; Bitcoin Core is the Bitcoin mainnet client development team—these two are completely different.
The so-called “Core fundamentalism” is a belief held by some supporters in the CORE community: Bitcoin hashrate = Bitcoin security; as long as BTC hashrate is used for endorsement, it inherits Bitcoin’s spirit and is an extension of Bitcoin.
1. The Core Fundamentalism’s Core Claims
The underlying logic of this belief is simple:
1. Bitcoin’s strongest moat is its massive POW hashrate;
2. CORE’s Satoshi Plus consensus allows Bitcoin miners to delegate hashrate to guard this chain, effectively transplanting Bitcoin’s security capability;
3. The native Bitcoin mainnet lacks smart contracts and cannot do BTCFi; CORE fills this gap and continues Satoshi’s vision;
4. When contract vulnerabilities occur, a hard fork can patch the code, preserving the historical ledger and maintaining immutability, thus practicing blockchain principles.
In their eyes: hashrate represents orthodoxy; as long as the hashrate comes from BTC, it belongs to the Bitcoin system.
2. Native Bitcoin Fundamentalists: Hashrate ≠ Everything, Governance Is the Soul
Bitcoin fundamentalists directly reject this view. They believe Bitcoin has never been just about hashrate but a whole system of checks and balances.
Hashrate is only a defensive weapon; what truly defines Bitcoin is the following set of underlying rules:
1. Anyone can run a full node at low cost, independently verifying the ledger without relying on third parties;
2. Major protocol changes cannot be decided by a small clique’s vote but require broad consensus from a global mass of independent nodes and miners;
3. The monetary supply rules are fixed: 21 million total, halving cycles, and cannot be arbitrarily changed by a few;
4. Once transactions are written on-chain, they cannot be easily tampered with or rolled back.
In their view: hashrate can be borrowed, delegated, or rented; but distributed node checks and decentralized governance cannot be simply replicated.
This is the biggest divergence between the two sides:
CORE supporters: hashrate = Bitcoin orthodoxy
BTC fundamentalists: multi-party checks + immutable monetary rules = Bitcoin orthodoxy
3. The 8.31 Hard Fork: Directly Exposing the Contradiction Between Two Beliefs
On 8.31, a few validating nodes exploited a reward contract vulnerability to mint 69 million ghost tokens. The project chose a forward hard fork: only blocking future vulnerabilities, not rolling back historical transactions.
From the Core fundamentalist perspective:
✅ Correct move. The hard fork patched the over-issuance vulnerability, preserved ledger history without rollback, and did not tamper with past transactions; the base layer still relies on BTC hashrate to defend against external attacks, not betraying blockchain spirit. The bug was only in the upper-layer contract; the base security foundation remains unchanged.
From the native Bitcoin fundamentalist perspective:
❌ This is not the Bitcoin paradigm.
The entire chain’s block production, protocol upgrades, and hard fork decisions are controlled by a small clique of 21 DPoS validating nodes. BTC hashrate only defends against external 51% attacks and has no authority to interfere with upper-layer contracts or constrain validating nodes from misbehaving; it has no governance voting rights.
Hashrate is merely “outsourced security,” while chain rules and economic distribution are decided by a few nodes.
Bitcoin would never allow a situation where “a few nodes exploit contract vulnerabilities to mint extra tokens, then all token holders bear the selling pressure.”
Key point: CORE only borrows Bitcoin’s hashrate security shell but does not inherit Bitcoin’s distributed full-node checks and underlying system.
4. Hashrate Showdown: Two Types of Hashrate Are Fundamentally Different
Many confuse the positioning of the two types of hashrate:
1. Native Bitcoin hashrate: miners mine while countless independent full nodes verify the entire network; miners cannot unilaterally change rules. Hashrate, full nodes, and community mutually check each other.
2. CORE delegated hashrate (DPoW): Bitcoin miners delegate hashrate to the CORE network only for base-layer attack defense. Hashrate does not participate in contract governance, node elections, or hard fork decisions.
Hashrate is only a security endorsement without governance rights.
A simple analogy:
Bitcoin hashrate is the city-state’s civilian militia, with everyone having supervisory rights;
CORE delegated hashrate is hired mercenaries paid only to fend off external enemies; internal laws and rulings are decided by a 21-person council.
No matter how strong the mercenaries are, that does not make the city-state’s system Bitcoin.
5. The Ultimate Question: Is CORE Really the “True Bitcoin”?
Objective conclusion: It is an independent new public chain borrowing Bitcoin’s hashrate, not Bitcoin, nor a Bitcoin fork.
- Bitcoin’s soul lies not in POW hashrate alone but in the combination of hashrate + massive independent full nodes + multi-party checks jointly guarding a fixed monetary rule set.
- CORE retains BTC hashrate as a shield but hands governance to a few validating nodes, sacrificing distributed node checks for high performance and EVM smart contracts.
Trade-offs between the two systems:
- BTC: sacrifices performance to preserve decentralized checks;
- CORE: borrows BTC hashrate for security narrative, sacrifices governance decentralization for smart contracts and high-speed transactions.
Core fundamentalists see the hashrate but overlook Bitcoin’s core part: power must not be concentrated in a small clique.
6. Summary
Hashrate can be delegated, security can be borrowed, but Bitcoin’s decades-old distributed checks and balances system cannot be copied.
The 8.31 hard fork incident is not a failure of hashrate but a direct clash of two blockchain philosophies:
If you only regard hashrate as all of Bitcoin