Zcash is hovering around the closely watched $1,000 level as short sellers continue to take outsized losses. The move is being powered by heavy derivatives activity, with open interest above $2.3 billion, leaving the rally increasingly exposed to leverage-driven swings. ZEC recently traded near $1,020 after clearing $1,000 for the first time since its early, volatile trading era. CoinGlass data shows open interest at about $2.32 billion, alongside billions of dollars in futures turnover over the past 24 hours. Liquidations have also climbed. A fresh Coinalyze snapshot puts 24-hour ZEC liquidations at roughly $24.2 million, led by $22.6 million in short liquidations versus about $1.5 million on the long side. The skew suggests the squeeze is more pronounced than earlier percentage figures suggested. Earlier coverage captured how quickly the derivatives picture was shifting. A U.Today report cited $13.24 million in liquidations, including $11.26 million from shorts, as ZEC jumped from around $805 on Sept. 3 to as high as $1,051 the next day. Its headline referenced a 424% liquidation imbalance while the article calculated 562%, reflecting rapidly changing data during the surge. More recent figures now show a materially larger liquidation total. The scale of leverage is the key risk factor. Coinpaper previously noted ZEC futures open interest had already approached $2.3 billion as Zcash pushed into crypto's top 10 and short liquidations accelerated. CoinGlass currently shows ZEC up about 27% over seven days, with market capitalization around $17 billion. Spot-market demand is also getting a boost from an exchange-traded product. Grayscale's Zcash ETF, ZCSH, began trading on NYSE Arca on Aug. 25 after the former Grayscale Zcash Trust was converted into an exchange-traded product, according to SEC filings confirming its registration and listing. Grayscale reports ZCSH held $463.2 million in assets as of Sept. 4, including about 444,608 ZEC, up from roughly $346 million in AUM on Aug. 31. Part of that increase reflects ZEC's sharp price rise rather than solely new subscriptions. The Block estimates ZCSH has drawn at least $34.4 million in net inflows since launch. Regulatory pressure has also eased. Earlier this year, the SEC closed its Zcash Foundation investigation without enforcement action. ZEC's ability to stay above $1,000 indicates buyers are still absorbing selling pressure. With more than $2.3 billion in derivatives exposure outstanding, the same leverage that intensified the short squeeze could also amplify the next major move in either direction.

According to Huo Xing Finance, U.S. and Canadian stock markets will be closed on Monday, September 7, in observance of the U.S. Labor Day holiday. CME Group's precious metals and U.S. crude oil futures will end trading early at 02:30 Beijing time on September 8, while its equity index futures will close early at 01:00 Beijing time on September 8. ICE's Brent crude oil futures will finish early at 01:30 Beijing time on September 8.

Binance is expanding its futures lineup with two high-momentum additions tied to the Robinhood and BNB Chain ecosystems. The new listings come as market interest builds around $BNB, $HOOD and $PONS.

India's rupee has strengthened about 1% against the U.S. dollar recently, supported by the repatriation of FCNR deposits, putting pressure on rupee-denominated gold and silver. Domestic spot gold has fallen 4% over the past eight trading sessions to 154,884 rupees, while spot silver is down 4% to 235,456 rupees. Over the same period, U.S. spot gold slipped 3%, pointing to broader weakness in global bullion. The pre-festive-season pullback is also influencing consumer buying.

Zcash (ZEC) surged above $1,000 for the first time since 2018, sparking a wave of forced liquidations that hit traders positioned for a pullback. The privacy-focused token peaked at $1,051 on September 4 after climbing from $805, breaking through a level around $888 that had previously capped advances. With the breakout catching short sellers off guard, liquidation activity spiked. CoinGlass data shows total ZEC liquidations reached $13.24 million over 24 hours, with $11.26 million coming from short positions and $1.98 million from longs. The gap translated into a reported 562% imbalance between bearish and bullish liquidations. As exchanges close short positions, they must buy ZEC in the market, adding fuel to an already strong rally. Momentum has been building for months. CoinGecko data shows ZEC is up 105% over the past month and 2,395% over the past year. The recovery traces back to October 2025, when ZEC broke out of a range in place since June 2022 after bottoming near $7.70 in April 2025. Institutional and network developments have also strengthened demand. Grayscale's spot Zcash exchange-traded fund began trading on NYSE Arca in late August under the ticker ZCSH and has exceeded $400 million in assets under management, marking a record for the fund. Digital Currency Group has also entered nonbinding talks that include a potential purchase of 200,000 ZEC via a subsidiary. On the technology front, Zakura developers released cryptographic tools that cut the time needed to construct private mobile transactions from about three seconds to under 200 milliseconds, supporting the case for Zcash in everyday payments. The rally has lifted ZEC's market capitalization to roughly $17.25 billion, putting it among the ten largest cryptocurrencies. The scale of the liquidation imbalance underscores how concentrated leverage can amplify price moves when market expectations flip. The post Zcash Short Squeeze Wipes Out $11.26 Million as ZEC Breaks $1,000 appeared first on 36Crypto.

Bitcoin hovered at $79,985, up 0.36% over the past 24 hours and about 2.5% on the week. The calm headline masks a turbulent stretch: BTC hit $82,240 on Friday, its highest level since May, then slid more than 4% within an hour. Attention has now narrowed to a single inflation release. Where Bitcoin stands BTC was last just above $79,900, with market capitalization around $1.6 trillion and 24-hour trading volume near $19.8 billion. The 2.5% weekly rise places Bitcoin among the more stable large-cap assets, though it remains down 8.6% year to date. Bitcoin has rebounded roughly 37% from its June low, but it is still sharply negative for 2026 overall"a recovery move that remains, for now, unproven as anything more than a bear-market rally. Why BTC sold off after the jobs data Positioning shifted on Thursday after ADP employment printed 38,000 versus 47,000 expected. With rate-hike expectations easing, Bitcoin pushed through $80,000 and roughly $93 million in short positions were liquidated. BTC also reclaimed the 200-day EMA for the first time since June. By early Friday in Europe, the rally carried BTC to $82,240, up 6.8% in 24 hours. That move reversed when the August employment report surprised to the upside. Nonfarm payrolls increased 162,000 versus consensus near 56,000. Unemployment held at 4.1%, wage growth cooled to 3.1% year over year, and June and July payrolls were revised higher by a combined 55,000. Bitcoin dropped from about $81,300 to $78,600 within minutes. Rates repriced quickly. CME FedWatch odds of a 25-basis-point hike in September climbed from 49.4% to 58%. The 10-year Treasury yield sits at 4.73%, while the 30-year yield is at its highest level since 2007. The macro pressure point is straightforward: Bitcoin offers no yield, and as risk-free returns approach 5%, the opportunity cost of holding non-yielding assets rises. A strong labor market supports growth but complicates the case for cheaper money. ETF flows remain a key support Spot Bitcoin ETF demand in the U.S. continues to underpin the bullish argument. Net inflows totaled $730.8 million on September 3, the largest one-day intake since January, with BlackRock's IBIT contributing $454 million. Flows stayed positive during the selloff: September 4 saw $174.6 million net inflows, marking a third consecutive session and bringing the three-day total to roughly $1.01 billion. The longer-term backdrop is less clean. U.S. spot Bitcoin ETFs are still down a net $4.83 billion for 2026 overall. August turned positive and clawed back a meaningful portion, suggesting institutions are increasingly buying dips and trimming strength rather than accumulating indiscriminately. Even so, the bid has been strong enough to absorb a hawkish repricing without breaking the established range. Key levels to watch On the three-hour chart, the structure remains intact. The rising 200 EMA sits at $74,971, about $5,000 below spot. Bitcoin has held above it since the sharp move from $64,000 to $77,000 between August 19 and 21. Since then, BTC has traded in a broad band between roughly $76,000 and $82,200. Support levels: - $78,670: nearest support, flipped from resistance to support in early September. It also sits close to the $78,000 "max pain" level for the September 18 options expiry, which often draws price action into expiry week. - $76,000 to $77,000: a key shelf; a loss opens the door toward the EMA cluster near $74,971 and the $74,450 level. Resistance levels: - $82,200: range high; Friday's $82,178 marked a fourth failed attempt at the top. - $85,000: the level that would materially shift the narrative. A weekly close above $85,000 would be the clearest signal so far that BTC is moving beyond a bear-market rally. The $88,000 area is the next hurdle after that. A deeper structural reference sits at $58,000, relevant only if the broader recovery fails. Momentum is neutral. RSI is 55.48 versus a 53.92 signal line, with no clear divergence or exhaustion. Since Friday, candles have tightened and coiled around $78,670, consistent with compression ahead of a major data release. Catalysts on the calendar Four upcoming dates stand out: - September 11: U.S. CPI. The most important release of the month. Fed Governor Christopher Waller said he would consider a hike if August inflation runs hot, elevating this print from a routine data point to a decision driver. A softer CPI reading would likely reduce September hike odds and give BTC room to retest $82,200. A hotter print could quickly bring $76,000 into play. - September 15: the Clarity Act. SEC Chair Paul Atkins expects a Senate vote and has urged passage before month-end. He also said the SEC is drafting complementary crypto legislation. The impact is slower-burning than CPI, but it matters for institutional allocation into 2027. - September 15'16: the FOMC decision. This would be the first hike under serious consideration since the tightening cycle ended in July 2023. Markets currently price the probability at 58%. A hike being priced is not the same as markets absorbing it; a hike paired with guidance for more tightening is not fully reflected in current risk-asset pricing. - September 18: September options expiry. Max pain sits at $78,000, and price often gravitates toward that region into expiry week unless CPI overwhelms the effect. One additional crypto-specific date: MultiversX's Supernova hard fork goes live September 10, cutting block time from six seconds to 600 milliseconds. It is not a Bitcoin catalyst, but it is a material event for EGLD holders, particularly on exchanges. What it means for BTC from here Bitcoin is being pulled by two real forces. ETF demand has been steady and has so far prevented a breakdown after a hawkish shock. At the same time, rate expectations are shifting higher, yields are at multi-year highs, and oil above $90 adds to inflation concerns. The chart is largely noncommittal: neutral RSI, intact trend, and a compressed range. The next directional break is more likely to be determined by Thursday's inflation number than by technical signals. Levels that frame the week: holding $78,670 through CPI keeps the recovery structure intact. A weekly close above $85,000 would confirm a stronger regime shift. A decisive break below $76,000 would imply the August surge was a bounce rather than a bottom.

Tether, the issuer of the world's largest stablecoin, is rapidly emerging as a major buyer of U.S. government debt. The firm reports more than $122 billion in direct U.S. Treasury bill holdings, and total exposure above $141 billion once indirect positions are counted—putting it ahead of several sovereign nations in demand for U.S. paper. A stablecoin issuer turning into a Treasury heavyweight USDT in circulation must be backed by reserves. Tether says it places the bulk of those reserves—about 83%—into U.S. Treasury bills. With USDT's market capitalization rising to roughly $185 billion, that reserve strategy has translated into large and steady purchases of Tbills. In 2024, Tether recorded net Treasury purchases of $33.1 billion, ranking seventh among foreign buyers of U.S. debt. In 2025, net purchases totaled $28.2 billion, again placing the firm seventh globally. Tether has also said it would rank as the fifth-largest purchaser of U.S. Treasuries when hedge fund activity is excluded. Its CEO expects the company to move into the top 10 Tbill purchasers in 2026, citing continued USDT growth and new product launches. User growth driving reserve demand Tether reports adding around 30 million new users each quarter, lifting its user base to about 530 million. As more users acquire USDT, reserve needs expand, and Tether's policy directs much of that incremental demand into the Treasury market. The dynamic has been highly profitable: Tether said it generated more than $10 billion in profits in 2025, driven largely by yields on its Treasury portfolio. U.S. Treasury Secretary Scott Bessent has pointed to stablecoin issuers as a potential structural source of demand for Tbills, estimating the sector could ultimately absorb $800 billion to $1 trillion in Treasuries as it scales. Why policymakers are staying calm Stablecoin legislation moving through Congress would formalize reserve requirements that effectively favor or mandate Treasury holdings, reinforcing this channel of demand. Tether's stated 83% allocation to Treasury bills also contrasts with the earlier, less transparent reserve mix that drew scrutiny, including commercial paper and other instruments. Scale brings its own risks A fast, large redemption wave in USDT could force Tether to liquidate tens of billions of dollars in Tbills quickly. Treasury bills are among the most liquid assets globally, but a forced sale of $50 billion or more in a stress scenario could still ripple through short-term funding markets. Rivals such as Circle, the issuer of USDC, also hold sizable Treasury reserves, though at a smaller scale. As legislation takes shape, tighter reserve rules could push the broader stablecoin sector deeper into Treasuries, aligning with Bessent's $800 billion to $1 trillion demand projection.

On-chain data shows a transfer of 999 BTC, valued at USD 79,913,622, from Coinbase to Binance.

CoinMarketCap cited overseas reporting that the U.S. Securities and Exchange Commission (SEC) has approved adjustments to Nasdaq Texas Rule 5711(d), giving eligible crypto trusts more leeway in how they are structured for listing. The coverage argues the more meaningful takeaway is not the renewed mention of XRP, but an early loosening of portfolio construction rules for multi-asset crypto ETFs. Under the approved framework, at least 85% of a trust's assets must still be invested in holdings that satisfy the general listing standards. Up to 15% can be allocated to other digital commodities or securities that do not meet those standards on a standalone basis. In an illustrative example, the SEC referenced Bitcoin, Ethereum, Solana, and XRP as digital assets that currently meet the criteria for exchange-traded commodity trusts. Overseas outlets interpreted this as placing those tokens within the operational scope of existing listing rules, while emphasizing it does not represent a permanent federal determination of their legal classification. While market attention has centered on whether XRP is ultimately deemed a "commodity," the report said the practical impact is broader: fund managers can now build more diversified products across major crypto categories. As an example, a $100 million trust could allocate $95 million to eligible assets such as Bitcoin, Ethereum, Solana, and XRP, with the remaining $5 million invested in other digital assets that do not individually qualify. The change gives exchanges and issuers additional room to design compliant products. The report added that the regulatory signal did not translate into an immediate price boost for XRP. At the time, XRP traded around $1.40, down about 4% over the prior 24 hours. The decline was attributed largely to macro headwinds, including rising U.S. Treasury yields and expectations the Federal Reserve will keep monetary policy tight. Even so, the article said institutional demand for XRP-related products has not faded. XRP ETFs recorded net inflows for 11 straight trading days, totaling roughly $170 million. Citing institutional holdings data, the report said Goldman Sachs has recently become the largest disclosed holder of the XRP ETF, with an estimated $87.4 million position, ahead of Jane Street and Millennium Management. Overseas media also suggested multi-asset structures could be the next focal point. As Bitcoin, Ethereum, Solana, and XRP increasingly serve as core underlyings in regulated crypto products, attention may shift from which tokens can enter traditional finance to what new products can be built around them. With the ability to pair mainstream assets with a limited allocation to other tokens under a compliant framework and potentially use more active management, the future of crypto ETFs may expand beyond single-asset offerings. The newly permitted 15% sleeve could become an important on-ramp for broader product innovation.