Bitcoin closed above its 50-week moving average for the first time in 45 weeks, a technical milestone that Galaxy’s Alex Thorn has historically linked to bear market bottoms. Meanwhile, real-world asset tokenization and the regulatory land grab are accelerating on both sides of the Atlantic.
🔑 Key Takeaways
- Bitcoin reclaims its 50-week moving average for the first time in 45 weeks (Galaxy signal)
- Total crypto market cap added $135 billion in 24 hours with $400 million in shorts liquidated
- Ethereum posts its best third quarter ever as ether hits $2,700
- World Liberty Financial (Trump-linked) gets preliminary approval for a US national trust bank
- France records a 71% surge in crypto-related physical assaults, leading the world
Bitcoin: a technical signal worth watching
For the first time in 45 weeks, bitcoin (BTC) closed above its simple 50-week moving average, according to Alex Thorn, head of research at Galaxy Digital. Thorn noted that this breakout has historically confirmed the bear market bottom in previous cycles.
The price move came with measurable euphoria. In a single session, total crypto market capitalization jumped by $135 billion, while $400 million in leveraged short positions were liquidated in just 12 hours, a textbook short squeeze.
Bitcoin has rebounded nearly 30% from its late-June low, climbing from around $62,000 to over $72,000. The rally has been fueled in part by a fresh wave of pro-crypto announcements from the US administration, including moves toward a strategic BTC reserve.
| Metric | Value | Change |
|---|---|---|
| Bitcoin price | $72,000 | +30% since late June |
| June low | $62,000 | — |
| 24h market cap gain | +$135B | — |
| Shorts liquidated (12h) | $400M | — |
| BTC market share | ~58% | Total cap ~$1.28T (CoinGecko) |
Bitcoin now accounts for roughly 58% of total crypto market capitalization, around $1.28 trillion per CoinGecko. Meanwhile, former altcoin leaders like Cardano (ADA), Polkadot (DOT) and Dogecoin (DOGE) remain far from their all-time highs.
« Bitcoin above its 50-week moving average has historically confirmed the bear market bottom. »
Alex Thorn, Head of Research, Galaxy Digital
Ethereum and the public blockchain ecosystem
Ether (ETH) touched $2,700, confirming the strength of the third quarter, Ethereum’s best Q3 on record. The ratio of ETH waiting to enter staking versus that waiting to exit stands at 13.6 to 1, indicating structurally stronger demand than validator supply.
Developers are preparing the Glamsterdam upgrade, scheduled for Q4 2026. It aims to boost execution speed, lower transaction costs and significantly simplify network scalability.
In the broader ecosystem, the New York Stock Exchange spent a year testing the Avalanche blockchain for tokenization initiatives, according to Charley Cooper, president of Ava Labs. Solana (SOL) crossed $110, while NEAR, UNI and ARB all rallied more than 25% in 24 hours, a sign of renewed appetite for DeFi and DAO tokens.
Regulation: the scramble for chartered status
The US Office of the Comptroller of the Currency (OCC) granted conditional preliminary approval to World Liberty Financial, the crypto venture tied to the Trump family, to establish a national trust bank. The decision underscores a broader rush by crypto firms to secure regulated status in the United States.
Meanwhile, gold advocate and economist Peter Schiff called the SEC’s announcement on tokenized stocks bearish for bitcoin, arguing such securities would offer comparable ease of use with a more reliable underlying value.
In France, the AMF’s ombudsman recorded a record 37% jump in complaints in 2025, with a growing share tied to crypto-asset disputes, evidence of accelerating adoption and the need for stronger retail investor protection.
Tokenization hits the mainstream of traditional finance
The tokenization of real-world assets (RWA) is gathering pace, mixing Wall Street incumbents with crypto-native players. A flurry of recent announcements illustrates the trend’s industrialization.
| Player | Initiative |
|---|---|
| S&P Global | Acquires OpenZeppelin for on-chain risk assessment |
| Circle | Launches Arc blockchain backed by BlackRock |
| London Stock Exchange + Payward | Tokenize 100 UK stocks on xStocks |
| ICE (Intercontinental Exchange) | Selects Tzero for 24/7 stock tokenization |
| Citi | Issues tokenized notes; Banco do Brasil buys $5M |
| Itaú Unibanco | Joins Brazilian securities tokenization pilot |
| Arya.ag | Tokenizes $2B of agricultural loans on Avalanche |
| Ripple | Expands to Jeonbuk Bank (Korea), launches Delta One (TRS equity trading) |
| Chainlink | Publishes US economic data on 10 blockchains |
| Japan | Preparing infrastructure for tokenized government bonds by 2027 |
| ECB | Launches Pontes project for tokenized finance in Q3 2026 |
| Robinhood Chain | TVL +45% in August; RWAs in retreat |
| Canada (OFSI) | Tokenized deposits treated like classic deposits |
| India | Bond tokenization pilot: $107M issued |
« These tokenized stocks would offer the same ease of use as bitcoin with a more reliable underlying value. »
Peter Schiff, economist
State digital currencies and the macro backdrop
Russian operators were ready for the launch of the digital ruble on September 1. Within ten days, 87,000 accounts had already been opened, a strong start. By contrast, Saudi Arabia has pulled out of the China-led digital currency payment project (mBridge), highlighting geopolitical fragmentation around alternative monetary infrastructures.
On the macro side, US Treasuries held by China have fallen to $618 billion, their lowest level in 18 years, with the decline accelerating since 2022. The 30-year US yield is flirting with a 20-year peak, raising the cost of long-dated US borrowing. Foreign investors are buying less, while hedge funds are stepping up.
US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are continuing trade talks ahead of the expected Trump-Xi summit in Washington. Against this backdrop, bond funds just posted their strongest inflows in over a decade, while Goldman Sachs has warned of a possible earnings bubble, though it still expects growth to slow rather than collapse. US share buybacks could reach $1.4 trillion this year.
Meanwhile, Warren Buffett officially stepped down as chairman of Berkshire Hathaway at 96, after six decades. His son Howard takes over as chair while Greg Abel remains CEO, a generational turning point for global investing.
France: crypto-related physical violence surges
On September 20 in France, a family with two children was tied up at home by individuals targeting the father, who works in crypto. Police are investigating an attempted extortion, and four suspects fled. In H1 2025, France recorded 77 cases of crypto-linked violence, up 71% year-over-year, making the country the world capital of physical assaults in this sector.
More broadly, 43 million digital accounts or records have been compromised or stolen since the start of 2026, underscoring the importance of operational security and discretion around crypto-related professions.
Conclusion
Bitcoin’s reclaim of the 50-week moving average, Ethereum’s renewed momentum, and the US regulatory thaw together sketch a potentially nascent bull cycle. Real-world asset tokenization, now embraced by both Wall Street giants and decentralized protocols, looks set to redraw the boundary between traditional and decentralized finance by 2027.
Two blind spots remain: the physical security of crypto industry participants, a national concern in France, and the lagging trajectory of legacy altcoins (ADA, DOT, DOGE) that have yet to recapture the capital rotation. The coming quarters will tell whether this technical signal truly marks a durable bottom or simply a strong mid-cycle bounce.
Sources
- Cryptoast – Latest blockchain news
- Les Échos – Crypto & NFT markets
- CryptoActu – Blockchain
- Blockchain Podcast (Spotify)
This article is for informational and educational purposes only. It does not constitute investment advice. Do your own research (DYOR) before making any decision.
