BlockBeats News, September 29th: According to BiyaPay analysts, the crypto market entered a seasonal weakness period in September. Despite a slight increase in Bitcoin, the crypto market’s valuation evaporated by $162 billion during the past week’s weak market. Bitcoin fell below the key support level of $110,000 on September 26th, and Ethereum dropped below $3,900, hitting a near seven-week low. This decline offset the gains seen in the first two weeks of September.
Although the September market is under pressure, institutions are generally cautiously optimistic about the fourth quarter. Coinbase Research projects that the crypto market will continue to strengthen in the early fourth quarter due to ample liquidity, favorable macro backdrop, and supportive regulatory developments, with Bitcoin expected to perform well. Grayscale’s latest research report indicates that the fourth-quarter crypto sector’s returns may be driven by three major themes: the U.S. Senate pushing crypto legislation, SEC approval of commodity-type ETP universal listing standards, and the potential Fed interest rate cut benefiting risk assets.
BiyaPay now supports spot and contract “0 fee trading,” allowing users to directly trade U.S. stocks, Hong Kong stocks, and futures using USDT without the need for currency exchange, making fund allocation more flexible. Users can quickly switch between different asset markets through BiyaPay to seize global investment opportunities.
