BTC Stuck Around $80,000: What's Happening in the Market
After a strong August, BTC entered September without another major move higher. Since August 21, the cryptocurrency has mostly traded between $78,000 and $80,000. On September 8, the price was below $79,000.
At the same time, demand from spot ETFs remains significant. In the week through September 6, BTC ETFs attracted more than $986 million, while total inflows over three weeks reached $3.8 billion. So far, however, this has not been enough to push the price out of its current range. After August's rally, investors have become more cautious while the market waits for new macroeconomic data. BTC's correlation with gold has also increased. The 90-day correlation reached 0.56, its highest level since 2017.
The main question for September remains the same: can BTC establish itself above $80,000? For now, the market appears to be waiting rather than making another major move.
Ethereum Prepares Hegota: What Will Change in the Network
For the Ethereum Hegota upgrade, developers selected two key proposals from 62 EIPs - FOCIL and Frame Transactions.
FOCIL is designed to make the network more resistant to censorship. The mechanism involves special transaction lists that validators can require to be included in blocks. Frame Transactions will make account and transaction handling more flexible. In particular, it will allow account verification, transaction execution and gas payments to be programmed more freely.
Developers also aim to make Ethereum's base layer resistant to quantum attacks by the end of 2029. Hegota is still under development, so some proposals may change. But the main priorities are already clear: improving network resilience and expanding transaction capabilities.
Zcash Draws Market Attention Again: ETF Reaches $500 Million
Zcash was one of the most notable altcoins at the beginning of September. On September 7, ZEC moved above $1,200 and reached a multi-year high.
Interest in a ZEC-based ETF has also increased. By September 9, the fund's assets had reached $500 million. The ETF was launched at the end of August. This is an important development for Zcash. Investors can now gain exposure to the asset through a traditional exchange-traded product instead of buying the cryptocurrency directly. However, ZEC's rally does not yet signal a full-scale altseason. The market remains selective: some assets are significantly outperforming BTC, but there is still no broad shift of capital into altcoins.
On September 7 BTC was trading below $80,000 and ETH above $2,500, while ZEC continued to significantly outperform major cryptocurrencies.
The next test for the market is whether this demand can remain after the initial inflow of capital into the ETF.
BTC and ETH See Different Demand: Investors Choose Different Instruments
Capital flows into crypto ETFs became more uneven at the beginning of September.
In the week through September 6, BTC ETFs attracted more than $986 million, while ETH-based funds received more than $218 million. It was the third consecutive week of positive flows for both segments.
The picture changed later. On September 8, BTC ETFs recorded more than $46 million in outflows, while ETH funds lost more than $24 million. At the same time, assets in the ZEC-based ETF reached $500 million. The market is therefore not moving in one broad wave. Capital is shifting between different crypto assets depending on current demand. BTC remains the market's leading asset, while Ethereum is gradually taking a separate position in institutional portfolios. Demand for individual altcoins is even more noticeable, with some of them posting much stronger price gains.
BTC, however, still cannot firmly establish itself above $80,000. ETH remains above $2,500, while some altcoins are showing double-digit gains. For now, this looks less like a full altseason and more like selective growth in individual assets.
The key question for September is whether this demand will continue or whether investors will once again focus mainly on BTC.
People Now Pay Ten Times Less BTC for an iPhone
In 2018, an iPhone XS Max cost around 0.169 BTC. For the iPhone 11 Pro Max, the figure fell to 0.107 BTC, while the iPhone 12 Pro Max required about 0.068 BTC. The figure dropped even further for the iPhone 13 Pro Max.
So despite the increase in smartphone prices in dollar terms, their price relative to BTC has steadily declined.
The comparison shows how dramatically BTC's purchasing power relative to consumer goods has changed over the past several years.
BTC Sends a Bullish Signal: What Does the "Golden Cross" Mean?
A "golden cross" has appeared on the BTC chart - a situation in which a short-term moving average crosses a long-term moving average from below.
Traders generally view this pattern as a positive signal and a possible indication of further growth. However, it does not guarantee that the price will continue rising and is usually considered alongside other market indicators.
The signal appeared as BTC attempts to hold above key price levels. If buyers remain active, the golden cross could provide additional support for expectations of a continued uptrend.
