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According to The Defiant, Kinetiq announced the termination of the kPoints reward mechanism, transitioning to a paid redemption model. Users holding points have 10 days to participate in the distribution of a total of 50 million tokens at a price of $0.26 per KNTQ.Based on this price, if the full allocation is distributed, this issuance could bring approximately $13 million in revenue to the project team. Meanwhile, the market price of KNTQ has dropped by 23%, as the token shares that could previously be obtained through point accumulation now require actual payment to acquire.

According to on-chain analyst Yu Jin's monitoring, a certain whale/institution recently liquidated its long-term investment in DeFi tokens, incurring a loss of 9.61 million dollars. Ten days ago, it liquidated 37.26 million CRV that it had held for 3 years, realizing a loss of 5.97 million dollars.Three hours ago, it transferred 4.01 million PENDLE that it had held for 1 year to OKX, with an unrealized loss of 3.64 million dollars.

According to a recent interview with Time magazine, U.S. President Trump stated that if a satisfactory agreement cannot be reached with Iran, the U.S. may intensify bombings against Iran after the midterm elections.Trump also acknowledged that the stockpile of certain types of ammunition has decreased and stated that arrangements have been made with defense contractors to replenish ammunition and expand production capacity.

Cryptocurrency analyst Axel Adler stated that the current trading price of Bitcoin is approximately $83,700, which is 14% higher than the cost basis of short-term holders (STH). Data shows that over the past week, the cost basis of short-term holders increased by 1.2%, rising from $72,800 on September 24 to $73,700. Despite the continuous rise in cost basis, short-term holders still maintain an unrealized profit of about 13.7%, down from 15.4% a week ago.Meanwhile, the cost basis of long-term holders (LTH) of Bitcoin decreased from $48,900 to $48,800 over the past week, a decline of about 0.3%, marking one of the faster weekly declines this year. The current Bitcoin price is approximately 72% higher than the cost basis of long-term holders, who still have significant unrealized profit potential. Axel Adler noted that changes in the cost basis of long-term holders are mainly influenced by the duration of holding, and some high-cost chips may have shifted into the short-term holder group, thereby increasing the cost basis of short-term holders. If the weekly change in the cost basis of long-term holders returns to zero, it may indicate that this metric is stabilizing.

Jeffrey's global economist Mohit Kumar stated that the current level of U.S. Treasury yields is attractive to long-term investors, but uncertainty remains high. Jeffrey's believes that central banks will not implement rate hikes as significantly as reflected in market pricing.According to LSEG data, the money market has priced in an expectation of a cumulative 93 basis points rate hike by the Federal Reserve over the next 12 months.

Bloomberg has launched a stablecoin data dashboard on its Terminal, providing financial professionals with on-chain data to track stablecoin supply, issuance, and trading activity. This dashboard is supported by the blockchain data platform Allium and covers stablecoins with a circulation of over 100 million dollars, accounting for more than 98% of the overall market.Users can compare various stablecoins based on supply, minting, burning, transfer volume, and turnover rate, and segment activity data by blockchain network and anchoring type (including fiat and commodities). The dashboard is accessible to all Bloomberg Terminal users through the RWAS feature and is displayed alongside the platform's existing fixed income, foreign exchange, and money market tools.Bloomberg Terminal is widely used by financial professionals such as banks and asset management institutions for real-time market data, news, analysis, trading, and communication. Since 2014, Bloomberg has provided Bitcoin quotes on the platform and currently offers pricing, reference data, identifiers, and benchmarks for 50 cryptocurrencies. According to DeFiLlama data, the total market capitalization of stablecoins has risen to over 30.6 billion dollars, with Tether's USDT accounting for about 60%.

After the release of U.S. economic data, U.S. short-term interest rate futures rose as traders increased their bets on a Federal Reserve interest rate hike.

According to The Block, the prediction market platform Kalshi will terminate its trading volume incentive program, effective no earlier than October 13. This information comes from documents submitted by Kalshi to the Commodity Futures Trading Commission (CFTC).The program pays rewards to traders from a reward pool based on their share of qualified trading volume, aimed at enhancing liquidity. Kalshi is an event contract trading platform regulated by the CFTC.

According to a report by The Block, CryptoQuant's research director Julio Moreno pointed out that Bitcoin's closing price last week was above the 365-day moving average, confirming the start of a new bull market. However, Moreno stated that after Bitcoin reached an eight-month high of $87,400, several indicators show that upward momentum is weakening, and a market correction may follow.The report noted that the on-chain unrealized profit margin for short-term traders has risen to 33%, the highest level since December 2024. Historically, when profit margins are at similar levels, it often prompts traders to take profits. Data shows that on September 22, Bitcoin holders realized profits of 25,700 BTC in a single day, setting a record for the highest daily profit since 2026; the altcoin market also showed signs of selling pressure. The seven-day cumulative number of altcoin transactions rose to 76,000, the highest level since October 17, 2025. Meanwhile, spot demand continues to shrink, and the growth of futures demand has significantly slowed.After Bitcoin previously reached an eight-month high of around $87,400, the upward momentum has shown signs of fatigue. Julio Moreno indicated that if a correction occurs, the 365-day moving average (around $80,000) will serve as the primary support, followed by the 200-day moving average (around $71,000) and the on-chain realized price for traders (around $67,000). Provided that the support levels hold, this correction is more likely to be a healthy consolidation in a young bull market rather than a trend reversal.

Matt Cole, the CEO of Bitcoin Treasury Company Strive, stated that in the Bitcoin treasury strategy, "leverage" is the most important factor driving total returns. His model shows that over 99% of the variation in total returns is determined by leverage, while the impact of capital costs is much lower than commonly perceived in the market.Cole mentioned that Strive's goal is to outperform Bitcoin by maximizing total returns for common stock shareholders, with a benchmark scenario expecting Bitcoin's annualized compound growth rate to be around 50% by 2030.Cole expressed hope to increase Strive's leverage to over 60% later this year, but achieving this goal will be more challenging if warrants are exercised or Bitcoin rises further in the coming weeks.

Wintermute posted that, on the macro front, risk assets continued to rise last week. Even with the U.S. 10-year Treasury yield breaking above 5%, a high not seen since 2007, there was no significant risk-averse sentiment in the market. Crypto assets led the way, with altcoins rising approximately 5%, followed closely by BTC, and the Nasdaq also recorded gains, while long-term U.S. Treasuries performed the weakest.The report believes that oil prices will be a key factor influencing the interest rate hike expectations for October. Currently, oil transportation through the Strait of Hormuz remains significantly below pre-conflict levels, with Brent crude prices nearing $103 per barrel. If oil prices continue to stay around or above $100 per barrel, market expectations for another rate hike in October may remain high, at which point the core issue will shift to whether risk assets can absorb further rate hikes in the short term while bonds remain under pressure.In the crypto market, BTC last week first stood above the 50-week moving average on a weekly basis, with the current level of $82,500 being the upper boundary of the previous consolidation range, which is also a key position to watch this week; if this level can stabilize, it may become the foundation for the previous breakout; otherwise, a drop below this level will reignite concerns about the validity of the breakout. Meanwhile, BTC's market share has increased, the breadth of altcoin gains is at a relatively high level, and institutional options trading continues to increase with low Delta bullish options and call spreads being added for year-end positioning.

CryptoQuant analyst Zizcrypto stated that the adjusted long-term holder (LTH) MVRV metric has recovered from a shallow pressure zone and is currently back in a profitable state. Data shows that the adjusted MVRV for the long-term holder group with a holding period of 6 months to 10 years continued to compress and remained above 1 in April this year. An MVRV of 1 represents the overall breakeven line for this group, with values above 1 indicating unrealized profits and below 1 indicating unrealized losses.Between June and August, this metric fell below 1 five times, reaching a low of approximately 0.94 on June 30, when the BTC price was around $58,500, while the group's realized price benchmark was about $62,000, which is about 6% below the breakeven line. However, Zizcrypto noted that the duration and magnitude of this pressure were limited, with the metric remaining close to 1 and not entering the deep loss phase for long-term holders seen in 2019 and during 2022-2023. As of September 27, the adjusted LTH MVRV has recovered to about 1.35, with the BTC price around $84,500, while the long-term holders' realized price is about $62,700, indicating that the spot price is approximately 35% higher than this cost basis. The long-term holder group with a holding period of 6 months to 10 years has emerged from a shallow pressure phase below 1 and re-entered an overall profitable state, resembling a recovery after a healthy adjustment rather than a deep or prolonged loss cycle.

Co-founder and Chief Operating Officer Alon of Pump.fun stated that the company is hiring a support lead for the Trading Terminal and is recruiting more support positions for the Pump.fun app and launchpad.Alon mentioned that candidates need to be proactive, understand how to provide professional support to users, and be responsive, personally involved, and responsible for end-to-end support work. This position will manage the support team, liaise with VIP partners, and communicate user feedback to engineers. Alon also stated that Pump.fun is simultaneously hiring for junior support positions.

The crypto media The Block reported that there are 36 days until the U.S. midterm elections. The cumulative trading volume on the U.S. presidential election market on the prediction market platform Polymarket US has surpassed $545 million, making election-related markets one of the largest by trading volume on the platform.Traders currently assign a 91% probability to the Democratic Party winning the U.S. House of Representatives, up from 73% in May. The aforementioned trading volume and probability are both derived from the U.S. election-related markets on Polymarket US.

According to a report by Reuters, if the Democrats gain control of the House of Representatives or the Senate after the midterm elections in November, they are expected to launch investigations into business dealings related to Trump and his family, focusing on the cryptocurrency, prediction markets, and investment businesses involving the Trump family, as well as companies that funded projects for the White House.The report states that controlling either chamber of Congress will give the Democrats more resources for committee investigations and subpoena power, with some investigations potentially starting as early as February next year. The subjects of investigation frequently mentioned by Democratic lawmakers include the venture capital firm 1789 Capital, in which Donald Trump Jr. is involved, as well as cryptocurrency companies related to the Trump family, but a final list of investigations has not yet been established.Additionally, Republican Senator John Curtis has previously called for an investigation into some of Donald Trump Jr.'s business relationships, believing that the commercial activities of the presidential family should be subject to consistent congressional oversight.

According to TheEnergyMag, Bitcoin mining company Hut 8 announced that it has secured a $1.07 billion senior secured revolving credit facility, with a term of four years. The funds will be used to support the company's liquidity needs and energy and digital infrastructure projects.

According to Onchain Lens monitoring, the market maker Wintermute currently holds a short position of 126.25 million USD on the decentralized trading platform Hyperliquid.The main positions include: ETH short of 46.92 million USD, SOL short of 11.3 million USD, HYPE short of 10.03 million USD.

Analyst Darkfost pointed out that the MVRV ratio (Market Value to Realized Value ratio) of short-term holders (STH) of Bitcoin has risen to its highest level since November 2025. This increase was driven by the price breaking through the short-term holder cost benchmark of approximately $73,100, significantly enhancing market momentum between August and September.The current MVRV ratio is 1.15, indicating that short-term holders are, on average, in a 15% profit state, and their holding market value has exceeded the realized value. This level is worth close attention, as it may prompt short-term holders to take action, especially to realize profits.

The Wall Street Journal reported that a small group of artificial intelligence researchers is discussing how to avoid catastrophic artificial intelligence risks in a co-working space named Constellation in Berkeley, California. Sources close to the space indicated that employees from Anthropic also have office space there. The report noted that Anthropic researcher Jacob Coxon resigned this month, bringing public attention in the U.S. to the notion that "uncontrolled AI development could end humanity."The report stated that individuals in the relevant AI safety circles have been concerned about this issue for over a decade. They have honed their arguments in shared houses in the Bay Area and exchanged predictions at conferences in Berkeley and the Bahamas, discussing ideas such as purchasing remote islands, stockpiling iodine tablets, or relocating to desert electromagnetic shielding bunkers. A cocktail named "Death With Dignity" appeared on the drink menu at an event in 2022, referencing an article that suggested humanity is doomed to fail.The Wall Street Journal stated that these so-called doomsayers are among the earliest employees of OpenAI and Anthropic, both of which were founded on the principle of preventing AI dangers. They continue to exert influence, with some personnel and project funding coming from networks associated with effective altruism, including the former CEO of the now-defunct cryptocurrency exchange FTX, Sam Bankman-Fried; the report noted he is currently serving a 25-year prison sentence.