Bitcoin dips beneath $86,000 as capital flows into BCH and ZEC

Bitcoin mirrored Monday peak levels near $87,300 before facing selling pressure, while bitcoin cash jumped 28% following a CME futures listing announcement and ZEC advanced by 9%.

Nuclear issue won’t be solved on battlefield: Iranian President Masoud Pezeshkian

Speaking before the United Nations General Assembly a day following President Trump, Iranian President Masoud Pezeshkian asserted that his nation possesses the legitimate right to pursue nuclear technology.

He stated that the nuclear dispute cannot be settled on a battlefield, and that widening the conflict will fail to deliver security.

Petroleum is currently trading close to session peaks, with WTI crude advancing 1.7% to reach $92.10 per barrel.

Bitwise index surges to 90%, signaling potential start of new altseason

According to the asset manager’s newest Crypto Market Compass report, Bitwise’s Altseason Index climbed to 90% over the week, indicating that nine out of every ten tracked altcoins outperformed bitcoin across the preceding seven days, pointing to the arrival of an altseason.

The benchmark also revealed that 65% of monitored tokens surpassed bitcoin over the past month, a metric that Bitwise noted has historically correlated with sustained short- to medium-term outperformance by leading altcoins.

Stronger performers included Ethereum, Solana, Zcash, and Hyperliquid, whereas altcoin exchange-traded products excluding ether drew approximately $166 million, marking their largest weekly inflow throughout the year, according to Bitwise. Delphi Digital reported separately that 82% of altcoins on its sector tracker closed the month higher, with all 10 sectors recording positive average gains. Through an X post, the firm questioned: “Could the altseason be back?”

Interest rates and the dollar are flying higher, pressuring markets

Wednesday saw new cycle peaks across the U.S. yield curve as petroleum rebounded from several days of losses and macroeconomic figures remained robust.

While typically drawing less attention, the preliminary S&P Global Manufacturing PMI attracted notice by climbing to 57 in September compared to 53.9 previously, defying projections for a minor decline to 53.5.

Additionally, the S&P Global Services PMI increased from 56.5 to 58.7, outperforming expectations pointing to 56.

The 10-year U.S. Treasury yield surged sharply by 9.4 basis points to touch 5.042%. Meanwhile, the two-year yield, which exhibits a closer link to Federal Reserve monetary policy, gained 5.6 basis points to reach 4.833%.

The U.S. dollar index climbed 0.4%, representing a substantial shift for that indicator, hitting its highest point since late July.

Approximately thirty minutes after trading commenced, the Nasdaq dropped 0.55%, and bitcoin stood at $85,800, reflecting a 0.55% decrease over the preceding 24 hours.

Bitcoin approaches Friday’s $18 billion quarterly options expiry

Bitcoin trades near $85,000 as it nears Friday’s $18 billion quarterly options expiry.

Throughout September, bitcoin has advanced roughly 8%, alongside an increase of just under 50% for the third quarter.

Bullish call positioning and dealer hedging activities have served to drive this upward movement, though these financial flows may diminish following Friday’s settlement, potentially elevating short-term price swings as market participants transition their exposure toward October, December, and year-end.

Oil swings from loss to gain, with bitcoin slipping to $85,500

WTI crude oil bounced more than $2 per barrel above its session lows, with a significant portion of the movement happening over the final few minutes, putting it up 0.5% for the session at $90.93 per barrel.

Though no specific catalyst has emerged, the WSJ published a report indicating that U.S. petroleum executives—who believed they had persuaded the Trump administration against implementing a diesel fuel export ban—feel uncertain following statements made by the president near the UN General Assembly gathering yesterday.

This shift in the petroleum market pushed the U.S. two-year Treasury yield to a fresh cycle peak of 4.79%, while the probability of an October Federal Reserve interest rate increase climbed beyond 53%.

Concurrently, bitcoin pulled back to a session low of $85,500.

Bitcoin wallet owner migrates 600 BTC worth $52M for first time since 2012

An address holding 600 bitcoin that had remained dormant since July 2012 transferred these coins, valued near $51.9 million, to a fresh destination address on Monday, as highlighted by onchain information shared by Galaxy Research via an X post on Tuesday. The cryptocurrency stash was originally acquired more than 14 years prior, at a time when its valuation sat at roughly $8 per token.

This activity appears to represent a wallet transfer moving from an older bitcoin format to a Native SegWit wallet, implying that the holder is performing a long-term consolidation rather than executing a sell-off. The assets were not routed to any recognized exchange destination, and the receiving party’s identity remains unknown. Other long-inactive wallets have recently been shifted by participants from the Satoshi era without utilizing trading platforms, thereby minimizing indicators of immediate selling pressure.

BCH surges 28% after CME says it will list futures on the token

Bitcoin Cash rallied 28% over a 24-hour period to reach nearly $349, representing the most substantial movement among major tokens, after CME Group announced Monday that it will introduce futures contracts for Bitcoin Cash and Uniswap beginning October 19.

Futures offered on a regulated U.S. venue provide investment funds a mechanism to establish positions without directly holding the underlying asset, which is crucial for institutional entities whose internal guidelines prohibit direct cryptocurrency custody. Additionally, this supplies market makers with a risk management tool, typically resulting in tighter spot market pricing.

Meanwhile, bitcoin trades near $85,800, down less than 1% over the past 24 hours after hitting Monday’s intraday peak near $87,300 and encountering similar selling resistance. ZEC gained 9% to surpass $1,646, XRP advanced 3% toward $1.59, and TRX declined by 2%.

Alex Kuptsikevich, senior analyst at FxPro, explained via an email to CoinDesk that “optimism in the altcoin market and in equities suggests that we are witnessing a temporary shift of speculative capital from the leading cryptocurrency into altcoins.” He added that numerous investors had kept their crypto capital parked in the most liquid asset category and are now pursuing enhanced return opportunities.

He further noted that previously under comparable conditions, BTC experienced a slowdown rather than a complete reversal, with price dips drawing in fresh buyers who had previously kept capital away from the volatile crypto sector.

Regarding Bitcoin Cash specifically, the commentary noted that the token has simply climbed back to valuations last observed in late May, following a rejection close to $660 in early January and a subsequent drop to $190.

Sustained buying momentum would bring the $450 threshold into view, a zone where purchasers showed strong activity between October 2025 and May of this year.