Overview
- The token fell below $4 to about $3.77 on Sept. 30, down roughly 4.2% from September peaks above $5 as traders took profits.
- Short-term technical indicators cooled sharply with the daily RSI near 38 and the MACD line crossing below its signal line, though price remains above the rising trend line set in May.
- Bitwise launched a Lighter staking ETP (ticker BLIT) on Deutsche Börse Xetra last week, creating new institutional exposure tied to the Kaiko Lighter Reference Rate.
- A CoinGecko post linked a larger drop to reports that Robinhood picked Bitstamp for US perpetual contracts, but Robinhood’s Wallet docs and public filings have not confirmed a change and some traders called the sell-off an overreaction.
- Watch key support at the $2.50–$2.80 zone, any official filings from Robinhood on exchange partners, and whether price can reclaim $4; those outcomes will shape whether this pullback is a buying opportunity or a sign of weakening demand.