Here’s a quick recap of the crypto landscape for Wednesday (September 17) as of 9:00 a.m. UTC.
Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrencymarket news
Bitcoin (BTC) was priced at US$116,309, a 0.9 percent increase in 24 hours. Its lowest valuation of the day was US$114,866, and its highest was US$117,292.
Bitcoin touched past US$117,200 on Wednesday (September 17) before settling back in the US$116,000 range. The early morning uptrend was propelled by expectations of a US Federal Reserve interest rate cut announcement later in the day.
Traders pointed to improving momentum and inflows into crypto products as confidence rose ahead of the Fed decision. However, thin liquidity and leverage reduction were cited as headwinds, limiting how far prices were able to run.
Ether (ETH) was priced at US$4,494.71, a decrease of 2.6 percent over the past 24 hours. Its lowest valuation on Monday was US$4,476.73, and its highest was US$4,538.16.
Institutional Bitcoin demand is now outpacing new issuance. Bitwise data shows US spot BTC ETF inflows far exceed new BTC supply over recent. Monday’s (Sept 15) BTC ETF inflow was about US$260 versus ETH’s US$360 million, followed by an uptick to US$292 million on Tuesday.
This 7-day inflow streak (US$2.9 billion) is the largest since July, pushing total BTC ETF assets to US$151.7 billion or around 6.6 percent of BTC’s market cap. Data shows that 97 percent of this surge came from US spot funds, pushing their combined holdings to a record 1.32 million BTC.
Graph of CMC Crypto Fear and Greed Index, Bitcoin price, and volume over time.
Sentiment gauges have cooled from recent highs. CMC’s Crypto Fear & Greed Index currently stands around 51 (Neutral) today, down from “Greed” levels last week.
The neutral reading, which is up only slightly from 49 last week, shows that while neither bullish nor bearish sentiments are dominant, investors are still cautiously optimistic buoyed by ETF inflows and Fed hopes of favorable interest rates.
Bitcoin exchange-traded products drew their largest weekly inflows since late July, according to K33 Research, as institutional investors piled back into the market.
Net inflows totaled 20,685 BTC, pushing US spot ETFs’ combined holdings to a record 1.32 million BTC.
Analysts say the fresh demand is outpacing new supply nearly nine times over, creating strong upward pressure on prices. Bitwise noted that this reallocation is coming at the expense of Ethereum, with capital flowing back into Bitcoin after months of mixed positioning.
ETF inflows have become a critical driver of performance, with Bitwise data showing an unprecedented correlation between flows and price action.
With more than 22,000 BTC accumulated via funds in the last month, compared with just 14,000 newly mined, analysts see this as a bullish signal for the final quarter of the year.
Tokyo-listed Metaplanet (TSE:3350,OTCQX:MTPLF) has established a Miami-based subsidiary to oversee its Bitcoin income generation business, following the close of a US$1.44 billion global equity sale earlier this month.
The new arm, Metaplanet Income, received an initial US$15 million capital injection and will focus on derivatives trading and related yield strategies separate from the company’s core treasury holdings.
Upsized from an original plan of 180 million shares to 385 million due to strong demand, the offering raised ¥212.9 billion in gross proceeds. Funds are earmarked for further Bitcoin purchases through October as well as expansion of income products that have generated steady revenue since late 2024.
Management says the new US subsidiary will not materially affect 2025 earnings but strengthens its long-term operational footprint.
Saudi Arabia is accelerating its financial technology ambitions through new partnerships with Google Pay and Ant International, its central bank confirmed at the Money20/20 conference in Riyadh.
Google Pay will now integrate with the country’s mada network, allowing cardholders to manage payments through Google Wallet.
Meanwhile, a collaboration with Ant International aims to enable cross-border QR code payments linking mada with Alipay+ by 2026.
The push is expected to benefit small and mid-sized merchants, giving them access to a global payments ecosystem.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
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