Overview

• Bitcoin traded around $113,000–$114,000 late Tuesday as total crypto market value rose about 1% to clear $4 trillion on $173 billion in 24-hour volume.
• Spot Bitcoin and Ethereum ETFs drew more than $1 billion in combined inflows on Sept. 29, reversing recent outflows, with ETH funds taking in roughly $546 million and BTC funds about $522 million.
• Derivatives data showed aggressive long positioning, including a Bybit taker buy/sell ratio spike to 24.26, while Glassnode flagged fading momentum and rising demand for downside options hedges.
• On-chain and market structure signals pointed to lower exchange reserves and renewed spot demand on Binance, reinforcing accumulation by longer-term holders over leveraged flows.
• Macro and flow drivers included the Fed’s Sept. 17 rate cut and a gold rally seen as supportive, reports of a $1 billion Tether purchase and Strategy Inc. adding 196 BTC, with near-term risks from a possible U.S. government shutdown and a CME gap near $110,000.