Crypto Markets Face September Slump Amid Rising Oil and Bond Yields
- Major cryptocurrencies are down, with Bitcoin at $76.6k (-2%) and Ethereum at $2,376 (-3%).
- ETH ETFs see an $8M inflow, contrasting BTC ETF outflows.
- The SEC proposes allowing blockchains as official ownership records in new transfer agent rules.
- 21 banks, including Citi and Goldman Sachs, plan to form a stablecoin company by mid-2026.
- Robinhood Chain achieves record revenue and trading volumes across its platforms.
September has historically been challenging for Bitcoin, with average losses of around -3%. This month sees additional pressure from rising oil prices ($90/barrel) and bond yields (US ten-year at a cycle high of ~4.784%), which impact risk assets like cryptocurrencies negatively.
Despite the challenging macroeconomic environment, Ethereum’s ETF inflows indicate continued investor interest in the asset class amid broader market volatility (Source)
