“Dips exist to transfer Bitcoin from weak hands to stronger hands.”
– Adam Back

NARRATIVE FORMAT

QUESTION OF THE DAY

👉 If 401k investors gain direct access to Bitcoin, how quickly will that $9 trillion pool reshape the market?

BITCOIN PRICE ACTION

• Bitcoin Price Could Still Crash To $99,000 (NewsBTC)
• Metrics say $112K Bitcoin price was local bottom (Cointelegraph)
• Crypto millionaire count surges 40% to nearly 250,000 amid 'historic' bitcoin wealth boom, report estimates (The Block) (E)
• Bitcoin struggles at $113K as Fed's Bowman hints at faster rate cuts (Cointelegraph) (E)
• $840 Million in Bitcoin Bought in One Go, What's Happening? (UToday) (E)
• Bitcoin bull cycle enters ‘late phase’ as profit-taking metrics spike (Cointelegraph) (E)
• Bitcoin dips entice buyers, but charts warn of BTC price purge to $106K (Cointelegraph) (E)

BITCOIN NETWORK

• Community Divided on Bitcoin Core v30 (UToday)

BITCOIN ADOPTION

• Morgan Stanley to offer crypto trading in surprise move (The Street, The Block, The Daily Hodl, Decrypt, BeInCrypto) (E)
• Fold Teaming With Stripe for Its Bitcoin Rewards Credit Car (CoinDesk) (E)
• JUST IN: 🇷🇺 Russia’s largest online retailer Wildberries launches Bitcoin and crypto payments in Belarus 🟧

  Bitcoin adoption spreading worldwide 🌍🚀 (E)

BITCOIN MINING

• CleanSpark secures $100 million in Bitcoin-backed financing from Coinbase Prime (The Block, Cointelegraph, Decrypt, CoinDesk)

STRATEGIC RESERVE & CORPORATE TREASURY

• Anthony Scaramucci backs AVAX treasury aiming to raise $550 million (The Block) 
• OranjeBTC to Become Brazil’s Largest Publicly-Traded Bitcoin Treasury Firm With B3 Listing 🟧🚀 (CoinDesk) (E)

ETHEREUM

• ETH futures turn bearish (Cointelegraph) 
• Ethereum ETFs now account for 15% of spot market volume, up from 3% at launch (The Block) (E)

ETF

• Bitcoin and Ethereum ETFs Bleed $439M as Options Traders Brace for More Downside (Decrypt)
• ETF Inflows Surge Into Gold and Bitcoin in September (BeInCrypto) (E)

ALTCOINS

• Solana Hits Breaking Point as Liquidations Surge, Long-Time Holders Exit (BeInCrypto) (E)
• Kazakhstan Is Launching a National Stablecoin on Solana (BeInCrypto) (E)
• TD Signal Flashes Green for Dogecoin (CryptoPotato)

STABLECOINS

• Tether seeks $500 billion valuation, would rank among world’s most valuable private firms: Bloomberg (The Block, CoinDesk, NewsBTC, Decrypt) (E)
• U.S. CFTC Moves Toward Getting Stablecoins Involved in Tokenized Collateral Push (CoinDesk, BeInCrypto) (E)

REGULATION

• JUST IN: 🇺🇸 SEC plans to introduce “innovation exemption” for Bitcoin and crypto firms by end of the year (E)

LEGISLATION

• 🇺🇸 US lawmakers urge SEC to implement Trump’s executive order allowing Americans to invest 401k retirement savings into Bitcoin and crypto. Americans hold over $9 TRILLION in 401k savings. 🟧🔥 (The Street, Cointelegraph) 
• White House eyes year-end finish line for sweeping crypto market structure bill (The Block)
• US senator says market structure bill could address crypto ATM scams (Cointelegraph) (E)

LEGAL

• FTX Trust Sues Crypto Miner Genesis Digital For $1.15 Billion (BeInCrypto, Decrypt) (E)

VOICES

• ADAM BACK: “Dips exist to transfer Bitcoin from weak hands to stronger hands.” 🤝 
• Matt Hougan - Bitwise CIO says Bitcoin on corporate balance sheets will DOUBLE over the next year 🚀 Corporate adoption wave is just getting started 🌊 
• Arthur Hayes: Bitcoin to Hit $250K by Year-End on a Wave of Liquidity; but doesn't think it will reach $3.4M by 2028 (BeInCrypto, Cointelegraph, The Daily Hodl) 
• TOM LEE: "Bitcoin has become a $2 TRILLION asset." "Never in history has an asset hit $2 trillion then gone to zero." 🧠 (E)
• Anthony Scaramucci projects Bitcoin to skyrocket to $150k (Finbold) (E)
• Cathie Wood: Advice to her kids: “Buy Bitcoin every month.” 🟧
• SAMSON MOW: "If the world understood Bitcoin, we would be at $10M a coin now." (E)
• JUST IN: Michael Saylor: predicts a year-end Bitcoin rally live on CNBC 🚀 “Companies are buying even more than the natural mining supply.”🔥 (E)
• JUST IN: Michael Saylor says Bitcoin will be 10X bigger than gold Would put Bitcoin at $12M per coin. 🚀 (E)
• Vitalik Buterin: Ethereum Creator Says Coinbase’s Base Is ‘Doing Things The Right Way’ (The Daily Hodl) (E)
• Henrik Zeberg: Economist Says Crypto Bull Run ‘Nowhere Near the Top,’ Updates Long-Term Gold Forecast (The Daily Hodl) (E)

VIDEO OF THE DAY (MUST WATCH)

PODCAST OF THE DAY

Phase II of the Bull Market | Dan Morehead | Empire