Trading Desk Insights
Bitcoin held steady near $109,800 after briefly dipping below $109,500 early Monday. Traders remain cautious ahead of heavy macro catalysts, with U.S. Nonfarm Payrolls on Friday and CPI on Sept. 11 both flagged as ultra-high importance events. The September 17th FOMC decision is in sharp focus, where markets are already pricing in cuts. Until clarity emerges, every bounce risks being faded as macro overhangs keep liquidity thin.
Ethereum extended its struggle below $4,500, sliding back toward $4,300. Outflows from spot ETH ETFs accelerated, with nearly $800 million exiting last week alone. Futures open interest has fallen 18% since late August, suggesting reduced leverage and conviction. Technicals point to a descending triangle that could target $3,550 if $4,200 fails, though some analysts eye a possible bounce near $3,800–$3,900. Network revenues have slumped 44% since July, raising questions about ETH’s deflationary engine post-Dencun upgrade.
Nasdaq sparked headlines with a filing to the SEC seeking approval to list tokenized stocks. The proposal would bring blockchain-based equities under the same execution and clearing rules as traditional securities. If granted, Nasdaq could list tokenized shares alongside legacy ones, boosting liquidity and giving investors regulated access to blockchain-native versions of U.S. equities. The move highlights how regulators and exchanges are wrestling with bringing real-world assets (RWAs) into mainstream finance.
Solana drew fresh institutional validation as Forward Industries secured $1.65 billion for a dedicated SOL treasury. Backed by Galaxy, Jump, and Multicoin, the publicly traded firm aims to become the largest Solana treasury vehicle, nearly tripling existing reserves. Galaxy will oversee treasury management, Jump will reinforce infrastructure, and Multicoin will guide governance, with co-founder Kyle Samani set to chair Forward’s board. The strategy reflects conviction in Solana’s long-term resilience and aims to compound SOL per share faster than passive holding.
Looking ahead, markets will be anchored by Friday’s U.S. jobs report, next week’s CPI, and the Sept. 17 FOMC rate decision. These events will shape global liquidity, yield direction, and crypto flows. Traders should watch $110K for Bitcoin support, $4,200 for Ethereum defense, and Solana sentiment as institutional flows scale.
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