Crypto Daily | Ethereum Rises to $4,200; BMNR Stock Down Amid $365.24M Registered Direct Offering, Asset Holding Updates

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Bitcoin(BTC) Drops Below $113,000 with a 0.1% Increase in 24 Hours

Bitcoin has dropped below $113,000 and is now trading at $112,835, with a narrowed 0.1% increase in 24 hours.

Ethereum(ETH) Rises to $4,200 with a Narrowed 0.6% Increase in 24 Hours

Ethereum has crossed the $4,200 benchmark and is now trading at $4,197, with a narrowed 0.6% increase in 24 hours.

Crypto Traders Bet on Fresh Volatility Post $1.5 Billion Wipeout

A more than $1.5 billion round of liquidations has again underscored the fragility of cryptocurrency markets, unfolding without a clear trigger and leaving option prices pointing to more volatility ahead.

The selloff — one of the largest of the year after months of speculative rallies — forced leveraged bets in Ether and other tokens to be unwound and has left traders braced for further swings. Options contracts that pay out on sharp moves are in heavy demand, underscoring febrile sentiment across the digital-asset landscape, while stocks and other risk assets rally afresh.

“The market has been consolidating after the sharp pullback yesterday, but the mood still feels rather nervous,” said Caroline Mauron, co-founder of Orbit Markets. A move below $110,000 in Bitcoin and $4,000 in Ether could lead to a further sell-off, she said.

Bitcoin Options Expiry

CleanSpark Expands Capital with Additional $100M Bitcoin-Backed Credit

CleanSpark, Inc. expanded its capital expenditure plans by increasing its bitcoin-backed credit facility with Coinbase Prime by $100M, the company said on Monday.

The bitcoin miner expects to deploy the capital into areas, including expanding its energy portfolio, scaling its bitcoin mining operations, and investing in high-performance computing capabilities.

Bitmine Immersion Stock Down Amid $365.24M Registered Direct Offering, Asset Holding Updates

BitMine Immersion Technologies Inc. stock was trading lower as the bitcoin and ethereum network company announced the pricing of a $365.24M registered direct offering and asset holdings.

The largest ETH treasury company in the world said it now owns more than 2% of the ETH token supply as it moves towards the 'Alchemy of 5%'.

Shares were down 10% on Monday.

BNB Tokens Jump to Record Amid Expectation of CZ Pardon

The BNB token, the token linked to crypto exchange Binance, surged to a record high of ~$1,083 on Sunday as speculation grew that President Donald Trump would pardon Binance's co-founder, Changpeng Zhao, familiarly known as CZ.

The former Binance CEO served a four-month prison sentence last year under a $4.3B settlement with U.S. authorities. In May, CZ said he would request a pardon from Trump.

UK, US Form Taskforce to Deepen Capital Markets and Crypto Ties

The UK and US will establish a taskforce designed to boost collaboration on capital markets and digital assets, part of a flurry of initiatives announced as part of President Donald Trump’s state visit to the UK last week.

The Transatlantic Taskforce for Markets of the Future will look at ways to reduce the burden on “UK and US firms raising capital cross-border,” the UK government said in a statement Monday. It will also explore “options for short-to-medium term collaboration on digital assets whilst legislation and regulatory regimes are still developing,” as well ways to co-operate over the longer term.

Strive Buys Bitcoin Hoarder Semler as Treasury Wave Shows Cracks

Strive, co-founded by former US presidential candidate Vivek Ramaswamy, agreed to acquire Semler Scientific, Inc. in an all-stock deal, marking a new stage of consolidation among Bitcoin accumulators.

The transaction values Semler at $90.52 a share, a 210% premium to its Friday closing price of $29.18. The combined company will hold nearly 11,000 Bitcoin, according to a statement on Monday.

Bitcoin Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on Monday was $363.17 million. The total net asset value of Bitcoin spot ETFs is $148.09 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.59%.

The Bitcoin spot ETF with the highest net outflow on Sep. 22 was Fidelity Wise Origin Bitcoin Fund, with a net outflow of $276.68 million. Followed by ARK 21Shares Bitcoin ETF, with a net outflow of 52.30 million, according to SoSoValue.