cp

QCP Capital released the latest market analysis stating that BTC has broken through the previous trading range of $82,500 to $85,700 that lasted for a week, reaching a high of $86,913 during the day, the highest since September 23. It is currently trading around $85,900, up 14.6% from the low of $74,968 on September 15. QCP pointed out that during this round of increase, the annualized funding rate for perpetual contracts was only 5.4%, indicating that the market was mainly driven by spot funds rather than leveraged trading. QCP believes that this round of BTC's rise diverges from traditional macro market signals. In September, the yield on the 30-year U.S. Treasury bond rose to 5.62%, and the 10-year yield reached 5.29% at one point, while gold recorded its worst month of the year. Although rising real interest rates typically put pressure on gold and risk assets, BTC still rose.QCP believes that this market trend is more consistent with concentrated capital trading driven by institutional fund inflows, regulatory catalysts, and technical improvements, rather than purely a currency depreciation trading logic. Regarding institutional funds and regulatory factors, the U.S. Bitcoin spot ETF recorded net inflows of approximately $3.5 billion and $2.6 billion in August and September, respectively. QCP noted that the innovative exemption policy released by the U.S. SEC on September 17 provided a new regulatory catalyst for the market, but since the CLARITY Act failed to pass in the Senate earlier, market structure legislation may be delayed until 2027. Therefore, current regulatory support comes more from the administrative level, and long-term policy certainty remains limited.In the options market, yesterday's options trading nominal amount was approximately $2.5 billion, involving 54 transactions with a nominal amount exceeding $5 million each. Among them, one client sold in batches call options expiring on October 30 with a strike price of $90,000, totaling over 4,000 contracts with a nominal amount of $346 million; at the same time, they actively bought call options with the same strike price expiring on November 27. QCP believes that this operation reflects that some traders are rolling their positions from October to November to position for the U.S. midterm elections, quarterly Treasury refinancing, and market volatility around the December Federal Reserve meeting.On the macroeconomic front, the Federal Reserve will hold a monetary policy meeting from October 27 to 28. QCP stated that after Federal Reserve official Williams said there was no need to rush to adjust policies further, and with the August core PCE coming in below expectations, market expectations for maintaining interest rates in October have warmed. However, the market still expects an approximately 80% probability of a 25 basis point rate hike in December. The U.S. non-farm payroll report for September, to be released tonight, will be an important short-term test, with the market expecting an increase in non-farm payrolls of 84,000 to 93,000, an unemployment rate holding at 4.1%, and an average hourly wage year-on-year growth rate expected to be 3%.On the technical front, the support level of $82,500 has been tested three times in the past week, while $87,400 is the location of the September high and is a key resistance for BTC to further challenge $90,000. The implied volatility term structure in the options market is in a contango state, with a 7-day implied volatility of 30.3 and a 90-day implied volatility of 37.1; the 30-day risk reversal indicator is approximately -2.5 volatility points, indicating an increase in demand for short-term put protection. QCP believes that although BTC shows resilience in a macro environment of rising real interest rates, the market is still mainly driven by capital flows and position changes, and it cannot yet be considered that macro risks have been eliminated. U.S. employment data, Treasury supply, and the intensive policy events in the coming weeks may still trigger market volatility.

According to The Defiant, the crypto data and research platform Blockworks has announced the launch of a managed MCP server, opening its entire dataset to AI agents. This server is built on the Model Context Protocol, allowing AI tools such as ChatGPT, Claude, and Cursor to access the datasets behind Blockworks Research and its Intel applications.Blockworks stated that this service is provided with every API package at no additional cost, allowing users to access it using the same key and permissions. MCP is an open protocol that enables AI models to connect to external data sources and tools, and this integration means that AI agents can directly call upon Blockworks' research and market data.

CoinMarketCap announced on platform X that its Chief Product Officer David Salamon will assume the role of Chief Executive Officer, effective immediately. The former Chief Executive Officer Rush, after leading CoinMarketCap for five years, will transition to oversee the expansion of the group's new business line.CoinMarketCap stated that David Salamon joined CoinMarketCap in 2022 and during his tenure as Chief Product Officer, he led the development of CMC AI, which has surpassed 10 million users; he also spearheaded the reconstruction of CoinMarketCap's on-chain data infrastructure, with DexScan currently tracking 107 chains.

According to QCP analysis, the global market opened under multi-asset pressure, with investors reducing risk exposure. The Nasdaq 100 index fell from 744.45 to 737.76 in pre-market trading, gold dropped from $4260 to $4147, Bitcoin decreased from $84500 to $82800, and the dollar index also declined, reflecting broad deleveraging rather than a shift to safe-haven assets.QCP stated that the main driving factor is geopolitical: the United States rejected a ceasefire condition proposal regarding the Strait of Hormuz last weekend, reigniting concerns over energy supply disruptions and driving a significant rise in Brent crude oil. This week, the U.S. macroeconomic calendar is packed. Following the recent interest rate hike by the Federal Reserve, the PCE price index and non-farm payroll report are key data points, and the market remains highly sensitive to data that could influence further adjustments in monetary policy. In terms of crypto options, front-end implied volatility remains high, with traders pricing for downside protection. Spot Bitcoin ETF fund flows show hesitation amid broader clearing. Bitcoin's recent technical strength faces dual pressure from geopolitical uncertainty and macroeconomic data risks, with key support levels being closely monitored.

According to the Economic Daily, the shipment of optical CPO related equipment for joint packaging is increasing. Suppliers such as ZhiDe, GaoMingTie, and DongYouDa have stated that orders from Europe, America, and Asia are flooding in, with order visibility extending to the second quarter of next year, and they are simultaneously starting factory expansions. Customers' demand for high-precision motion platforms and automated optical coupling equipment is increasing, with a noticeable rise in clients from Southeast Asia, including Singapore and Malaysia, in addition to major manufacturers in Europe and America.ZhiDe stated that after receiving thousands of orders for international CPO equipment, they have recently made new gains and are negotiating cooperation on CPO alignment modules with domestic and major manufacturers in Europe and America, with overall orders initially looking at a thousand units. The company is expanding production in the Shugu Garden and Nanke Park in response to demand, expecting to launch new capacity in the fourth quarter and continue to ramp up production next year.GaoMingTie has been certified by the world's top ten optical communication brands and has secured orders for 800G and 1.6T optical module coupling alignment modules, with optical communication product revenue accounting for 79% in the first half of the year. The company has acquired about 60% equity in an optical and medical factory in Taichung, and after establishing a production assembly line, the estimated capacity can be expanded by more than double, with the Dongguan subsidiary expected to ramp up production after mid-next year. DongYouDa is collaborating with the Japanese company Junhe on CPO optical coupling equipment, with order visibility extending to the second quarter of next year, and has already initiated plans to establish factories in Vietnam, India, and Mexico, increasing capacity utilization from 70% by the end of 2025 to 80%.

According to Grayscale's official announcement, it has renamed its Grayscale Bitcoin Miners ETF to Grayscale AI Compute ETF, with the New York Stock Exchange trading code changed from MNRS to GCPU, and the tracking index changed from the Indxx Bitcoin Miners Index to the Indxx High-Performance Computing Index.The fund will invest in companies that build and operate AI infrastructure, with about half of the holdings in native AI computing companies, and the remainder in digital infrastructure operators that have publicly committed to transitioning to AI businesses, including companies that have transitioned from Bitcoin mining.

Stablecoin payment company dtcpay announced that it has received strategic investment from Japanese financial giant SBI Group, with the total amount of Series A financing expanding to 25 million USD. This round was led by Vertex Ventures, a subsidiary of Temasek, in April, with follow-on investment from Genedant Capital, which manages over 2 billion USD in assets, and continued support from Guo Liangde, the founder of Capella Hotel Group. SBI Group stated that this investment marks the beginning of a strategic partnership between the two parties, aiming to jointly expand the digital asset corridor between Japan and Southeast Asia.dtcpay is an official member of Visa and has issued a compliant stablecoin Visa card; its licensed operations cover regions such as Singapore, Hong Kong, Luxembourg, Australia, the United States, and Canada, and it continues to expand, providing compliant infrastructure for global stablecoin payments.

The Federal Reserve FOMC economic forecast shows that the median core CPI is expected to be 3.4% in 2026 and 2.5% in 2027.

Cluster Protocol (CP) is launched on Bitget PoolX, allowing users to lock up BTC to unlock 9,100,000 CP airdrop, with a personal lock-up limit of 50 BTC. The lock-up period is from September 16, 18:00 to September 23, 18:00 (UTC+8). This PoolX phase supports a long-term holding bonus mechanism, where the system will provide additional bonuses based on the user's lowest BTC holdings in the past 15 days. For more details, please refer to the official Bitget platform.

OKX Flash Earn Lite launches the Cluster Protocol (CP) airdrop event, where users can share a reward of 30,000,000 CP by subscribing to BTC, ETH, SOL, OKB, or CP. The event runs from September 21, 2026, 15:00 to September 26, 2026, 15:00.

According to Taiwan's "Commercial Times" report on September 14, as the computing power of GPUs and ASICs continues to rise, traditional copper interconnects are gradually approaching the limits of power consumption and signal transmission. TSMC is accelerating its layout for co-packaged optics (CPO). The industry is optimistic that if CPO bandwidth continues to double every two years, it may form the "CPO Moore's Law" of the AI era. Industry analysis indicates that the upgrade of CPO bandwidth mainly has three paths: including increasing single-channel speed from 200G to over 400G, expanding the number of optical channels from 16 to 32, 64 or more, and introducing wavelength division multiplexing (WDM). By 2040, the theoretical value could reach about 128 times the current level, with long-term potential for development towards hundreds of T based on the current level of about 3.2T.TSMC's role in optical interconnects has extended from wafer foundry to system integration, gradually integrating computing, HBM memory, and high-speed I/O from 3DFabric, CoWoS, SoIC to silicon photonics and CPO. When high-speed electrical signals exceed 200G, signal attenuation increases after passing through longer copper paths such as ABF substrates, PCBs, and connectors, leading the industry to develop shorter copper paths and longer optical paths. In terms of packaging architecture, the optical engine is currently laid out on the substrate, and the next step is expected to place CPO in the intermediary layer, with future possibilities of using SoIC technology to achieve 3D vertical integration of photonic integrated circuits (PIC) and ASICs. Industry players indicate that CPO still needs to overcome challenges in packaging, optical coupling, and testing before mass production can be achieved.

CoinShares Research Director James Butterfill stated that Bitcoin is currently facing an "unusual combination"—short-term bearish and medium-term bullish factors are present at the same time.In the short term, the U.S. core CPI rose 0.3% month-on-month in August, higher than market expectations. Butterfill said, "The CPI data is marginally negative, increasing the probability of monetary policy tightening, which may limit Bitcoin's immediate upside potential." CME FedWatch data showed that market bets on the Federal Reserve's next rate hike reached as high as 85%.In the medium term, he pointed out that the U.S. Treasury's expanded bond buyback program has failed to effectively lower long-term yields. If this situation continues, it may force authorities to implement larger intervention measures, raising concerns about currency depreciation, which would instead benefit Bitcoin and gold valuations. CoinShares believes that Bitcoin's short-term upside may be limited to below $80,000.

After the CPI was announced yesterday, Ethereum briefly surged nearly 10%, quickly rising from $2433 to $2667. According to analyst alicharts, this short-term spike was driven by whales, during which the number of Ethereum transactions worth over $1 million increased by nearly 14%.However, alicharts also stated that Ethereum is now approaching a major resistance level. Previously, over 10 million ETH were traded between $2700 and $2800, forming a significant supply barrier. This is the key range that whales must break through for Ethereum to rise to $3000.

According to on-chain analyst Yu Jin's monitoring, a whale with a position of 70 million USD in BTC long was completely liquidated at 20:30 due to the CPI data release, which caused BTC to spike to 76,046 USD, with a liquidation price of 76,308 USD, resulting in a loss of 1.6 million USD.After the spike, BTC quickly rebounded, reopening a BTC long position worth 13.68 million USD at 77,875 USD.

Goldman Sachs economist Alexandra Wilson-Elizondo stated: "Today's CPI largely meets expectations, which on the surface is the result investors hoped for, but it indeed heightens the suspense for next week's interest rate decision. The challenge is that the data does not fully reflect the recent emergence of some inflationary pressures, and there is little evidence that inflation is returning to target in the short term. The survey period for this report predates the latest round of energy price increases and also predates the surge in commodities spreading from energy to metals and agriculture. Today's inflation data does not eliminate the possibility of stronger price pressures emerging in the future.In summary, today's data that meets expectations will allow the Federal Reserve to keep the option of raising interest rates, but it will not be forced to act, so the market may focus more on Waller's communications, energy prices, labor market data, and what happens next, rather than on what was released today."

The seasonally unadjusted CPI in the United States for August recorded a monthly rate of 0.4%, the highest since June of this year, in line with expectations, with the previous value being 0.1%. The seasonally unadjusted CPI year-on-year for August recorded 3.4%, meeting expectations and unchanged from the previous value.

In August, the seasonally adjusted core CPI in the United States recorded a month-on-month increase of 0.3%, the highest since May of this year, exceeding market expectations of 0.2%, with the previous value being 0.2%. The year-on-year unadjusted core CPI in the United States for August fell to 2.4%, declining for three consecutive months, reaching the lowest level since April 2021, in line with expectations, with the previous value being 2.5%.

The seasonally adjusted CPI for the United States at the end of August is 334.98, expected to be 334.85, and the previous value was 333.918.