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CoinCatch Weekly Market Review & Outlook (September 12–18)
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2025-09-18 | 15m
This week, BTC rose 2.56%, ETH rose 3.33%, the overall crypto market remained relatively volatile this week, with both BTC and ETH seeing slight gains. The crypto market generally trended upwards driven largely by anticipation of a Federal Reserve rate cut and positive developments regarding Bitcoin Spot ETFs. After nine months of staying on the sidelines, the Federal Reserve on Sept. 17 announced a quarter-percentage-point cut. The Altcoin Seasonal Index rose to 71, indicating a significant increase in the altcoin market.
Market Overview
BTC: BTC rose 2.56% this week. Bitcoin maintains a short-term bullish structure, with prices currently trading steadily above the 5, 10, and 30 MAs, indicating a bullish trend. The MACD indicator continues to rise with increasing volume, and the red kinetic energy column is expanding, indicating continued strengthening bullish momentum. The current price has broken through the short-term consolidation range and reached a high of $117,793. If buying momentum continues, it is expected to challenge the resistance level above $118,000. Short-term support is expected to be around $116,300.
ETH: ETH rose 3.33% this week. It maintained a volatile upward trend, with the candlestick chart firmly above its short-term moving average. Both the 5MA and 10MA showed a clear upward curve, indicating a recovery. The MACD continued to show bullish momentum, with the red bar increasing continuously and the fast and slow lines maintaining a golden cross, indicating a healthy momentum structure. If the price stabilizes in the $4,630 area, further gains towards the $4,680 high are possible, with support located in the $4,560 to $4,520 range.
Altcoins: As of September 18, 2025, the Crypto Fear & Greed Index stood at
51 , indicating that market sentiment remained in
a neutral state . This was a slight increase from the reading of 47 on September 11, but overall remained in the balanced range of around 50. Market sentiment has stabilized slightly compared to September 11th, with bulls and bears relatively evenly balanced. The market may be in a period of consolidation, awaiting new directional signals. Investors should remain vigilant and
avoid blindly chasing gains and losses . A more prudent strategy would be to closely monitor market dynamics and other technical indicators for opportunities. This week, major altcoins continued to rise overall, with EIGEN seeing a short-term gain of over 20%, making it a standout performer among the top 200 altcoins by market capitalization.
ETF: Global Bitcoin exchange-traded products (ETPs) recorded a net inflow of 20,685 BTC last week, the largest weekly inflow since July. This pushed the total holdings of U.S. spot Bitcoin ETFs to a record 1.32 million BTC. Analysts note that this demand is outpacing new Bitcoin supply by nearly nine times, signaling strong upward pressure on prices. U.S. Bitcoin spot ETFs saw $2.323 billion in net inflows last week, with the total assets under management reaching $15.318 billion. Major contributors to these inflows were IBIT ($1.036 billion), FBTC ($849 million), and ARKB ($181 million). Expectations of a Federal Reserve rate cut were a key factor driving these inflows, as investors positioned themselves for potentially looser monetary policy.
After experiencing outflows in early September, Ethereum ETFs saw a rebound in inflows towards the middle of the week. U.S. Ethereum spot ETFs recorded a net inflow of $637 million last week, with assets under management reaching $3.035 billion. Fidelity's FETH led these inflows with $381 million. All nine Ethereum spot ETFs were in a net inflow state last week.
Macro Data: The Federal Reserve implemented its first interest rate cut of the year on Wednesday, September 17, lowering the benchmark rate by 25 basis points to a range of 4.00% to 4.25%. New Fed projections indicate two more potential cuts by the end of 2025, and possibly one more in 2026, though the Fed remains data-dependent. The US Dollar Index (DXY) has shown weakness over the past two weeks, hitting its lowest level since early 2022 before rebounding slightly. Gold continues to be influenced by global economic conditions and its role as a safe-haven asset. As of September 18, 2025, the December gold contract is trading at $3,717.80 US Dollars per ounce, down $7.30. The S&P 500 Index fell 0.1% to close at 6,600.35 points. The Dow Jones Industrial Average rose 0.57% to 46,018.32 points. The Nasdaq Composite Index slipped 0.33% to settle at 22,261.33 points.
Stablecoins:The overall market capitalization of stablecoins is currently US$290.5 billion, and stablecoins such as USDC and USDe continue to attract strong market attention. The most significant news this week was Tether's announcement of a new US-regulated stablecoin, USA₮.
Gas Fees: The Ethereum network's gas fee rose slightly this week. As of September 18, the average daily gas fee was 0.266 Gwei.
Weekly Trending Coins
This week, the Launchpad sector led the market, with a 7-day gain of 26.1%. The AMM sector benefited from a liquidity recovery and increased protocol revenue, rising 26.0%. Structural growth themes and the community-driven Meme sector resonated upward, with funds focusing on gaming themes and sentiment recovery.
PUMP Pump.fun (+42.21%, Market Cap: $2.93 Billion)
The
PUMP token is currently trading at $0.08280, up 42.2% over the past 7 days. The PUMP crypto-asset is the official utility coin of the pump.fun utility coin launch platform and the swap.pump.fun automated market maker (AMM) protocol (together, the "Pump.Fun Protocols"). The PUMP crypto-asset will not be required in order to utilize the Pump.Fun Protocols, which remain permissionless. Holders of the PUMP crypto-asset may opt to participate in promotional giveaways from the Pump.Fun Protocols. The Altcoin Season Index surged 60% in 30 days to 72, with Solana-based memecoins like PUMP leading. Pump.fun’s 24h volume hit $870M (+6.36% vs. market avg. +49.69%). PUMP benefits from speculative capital rotation into high-beta alts. Competitor LetsBonk.fun’s declining revenue share (3% vs. Pump.fun’s 62% in August) reinforces its dominance.
DRIFT Drift (+36.65%, Market Cap: 291.53 Million)
The
DRIFT token is currently trading at $0.7969, up 36.65% over the past 7 days. Drift is a fully on-chain perpetual and spot DEX built on Solana. The exchange offers traders the ability to trade pre-launch markets and launched tokens with up to 10x leverage. Beyond stablecoins, traders can use a wide range of assets as collateral, allowing for greater capital efficiency. DRIFT's gains this week were driven by the dual positive factors of zero platform transaction fees and a record-breaking TVL. The official announcement of a 0bp fee reduction for BTC trading pairs represents a significant cost advantage among similar protocols. Meanwhile, the platform's total locked-in value (TVL) exceeded $1.42 billion, a new all-time high, reflecting a continued influx of capital and growing user engagement.
EIGEN EigenLayer (+33.35%, Market Cap: 674.78 Million)
The
EIGEN token is currently trading at $1.99, up 33.35% over the past 7 days. The EIGEN token is a universal intersubjective work token designed for EigenLayer, enabling security for various digital tasks that are not just objectively verifiable but also intersubjectively attributable. Unlike traditional work tokens that are tied to one specific digital task or objective faults (verifiable on-chain), EIGEN addresses a broader category of faults where multiple external observers agree on whether the task was performed correctly. This expands the range of tasks that can be securely managed on a blockchain. EIGEN's surge this week was primarily driven by its partnership with Google and the growing popularity of the "Verifiable Reputation" concept. EigenCloud became an AP2 launch partner, strengthening its strategic position in the Web3xAI ecosystem. It also partnered with OpenRank to launch a public reputation system, sparking heated discussions on-chain and in the community.
Weekly Market Focus
Wormhole Launches W Token 2.0, Introducing a Reserve Mechanism and 4% Base Return
Wormhole, a cross-chain communication protocol, has officially released the W Token 2.0 upgrade, introducing a new token economic model to enhance the functionality and attractiveness of the W Token. This update includes the establishment of a Wormhole Reserve mechanism and a 4% base yield for W holders, aiming to create a more incentivized long-term holding system.
Furthermore, Wormhole has optimized its original annual linear unlocking mechanism to a biweekly unlocking schedule, significantly improving the transparency and market responsiveness of token releases. Overall, Wormhole is strengthening the stability of its cross-chain ecosystem through more meticulous token design and fund management, while also providing a clearer value capture path for protocol participants.
BlackRock Plans $2T Real-World Asset Boom with the Tokenization of ETFs
BlackRock, the world’s largest asset manager, is exploring how to bring one of Wall Street’s most popular investment vehicles into the blockchain era.
According to a Bloomberg report, the New York-based firm is weighing how to tokenize exchange-traded funds (ETFs) tied to real-world assets such as stocks, subject to regulatory considerations. The move follows BlackRock’s earlier ventures into digital assets. In 2024, the company launched its tokenized money-market fund BUIDL, which has grown to more than $2 billion in assets and has gained traction across crypto platforms. That launch came shortly after the blockbuster debut of its spot Bitcoin ETF, which quickly became one of the most successful funds of its kind.
Tokenization involves creating blockchain-based versions of traditional financial assets. In the case of ETFs, digitization could facilitate trading outside Wall Street’s usual hours, allow easier international access, and create new possibilities for using shares as collateral within crypto networks.
IRS Ramps Up Crypto Surveillance with Real-Time Tracking for 2025 Taxes
The Internal Revenue Service is intensifying its oversight of cryptocurrency transactions, marking a significant shift in how the agency monitors digital assets. What began as sporadic audits and voluntary disclosures has evolved into a sophisticated surveillance apparatus, leveraging advanced technology to track blockchain activities in near real-time. This expansion comes amid growing concerns over tax evasion in the crypto space, where anonymous transactions have long complicated enforcement efforts.
Industry experts note that the IRS’s tools now include data analytics platforms capable of scanning public ledgers for patterns indicative of unreported income. For instance, chain analysis software, similar to those used by firms like Chainalysis, allows the agency to link wallet addresses to real-world identities, often through partnerships with exchanges that comply with know-your-customer regulations.
Key Market Data Highlights
Fed Announces First Rate Cut in Nine Months, Signals More Reductions to Come
After nine months of staying on the sidelines, the Federal Reserve on Sept. 17 announced a quarter-percentage-point cut, likely the first in a series of reductions to usher in lower borrowing rates for consumers.
The rate cut – the Fed’s first since late 2024 – lowers the Fed’s benchmark interest rate to a range of 4% to 4.25%. Officials signaled the possibility of two more rate cuts this year.
Typically, the Fed hikes rates or keeps them steady to tame inflation. The central bank lowers rates to juice the economy. While the Fed previously held back on rate cuts due to inflation concerns, a series of disappointing jobs reports showed a weakening labor market. While there are signs that tariffs are starting to show up in consumer prices, Powell previously said a “reasonable base case” is that tariffs spur a one-time price shift rather than a more persistent inflationary effect.
The Altcoin Seasonal Index Rose to 71, Indicating a Significant Increase in the Altcoin Market
The latest data shows that the CMC Altcoin Seasonal Index has risen to 71/100, a nearly one-month high and a significant increase from 45 last month. This indicates that over the past 90 days, most altcoins among the top 100 crypto assets by market capitalization have outperformed Bitcoin, signaling a gradual shift in market sentiment towards an "altcoin season." The trend chart shows that the total altcoin market capitalization has steadily grown over the past two months, forming a positive feedback loop with the index, indicating that funds are increasingly flowing into non-Bitcoin assets.
Historical data shows that when the index exceeds 75, it is generally considered to have entered a full-blown altcoin season. The current index is approaching this critical point. Coupled with the recent activity in the Solana, LSD, and meme sectors, investors' risk appetite for altcoins has significantly increased. If this trend continues, the altcoin market is expected to further amplify its gains, driving more activity and capital inflows into the on-chain ecosystem.
CMC Altcoin Season Index. Source: CoinMarketCap
Solana Price Could Surge to $1,300 as Galaxy Digital Intensifies Buying
Solana’s price is nearing a key breakout point, with recent buying activity from major institutional players such as Galaxy Digital and Forward Industries. As these institutions expand their holdings, the price of Solana (SOL) shows signs of strong upward momentum. An analyst has set a target of $1,250 for Solana, with some forecasts going as high as $1,300 in the long term. These developments suggest that Solana could be preparing for a substantial price increase if the bullish trend continues.
Galaxy Digital, a major player in the cryptocurrency investment space, has recently made a significant purchase of $306 million in Solana. This investment further strengthens the growing trend of institutional accumulation of SOL. According to the latest data, Galaxy Digital’s continued buying activity signals a positive outlook for the asset. The firm’s efforts to add SOL to its portfolio reflect a growing confidence in Solana’s potential for long-term growth.
This acquisition aligns with Galaxy Digital’s broader strategy of increasing exposure to promising blockchain projects. As institutional demand for Solana rises, analysts expect this influx of capital to help propel the asset toward new price milestones. The firm’s substantial purchase is seen as a vote of confidence in Solana’s future, adding weight to the argument for a higher price target.
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Token Unlocks Next Week
Tokenomist data indicates that from September 19–25, 2025, several major token unlocks are scheduled. Some of them are:
OP will unlock approximately $9.46 million worth of tokens over the next 7 days, representing 6.5% of the circulating supply.
ZRO will unlock approximately $5.14 million worth of tokens over the next 7 days, representing 23.2% of the circulating supply.
KAITO will unlock approximately $8.35 million worth of tokens over the next 7 days, representing 3.15% of the circulating supply.
References:
CoinGecko. (2025).
Cryptocurrency categories and market data.
https://www.coingecko.com/en/categories
CoinGlass. (2025).
Liquidation data and market analytics.
https://www.coinglass.com/LiquidationData
CoinMarketCap. (2025).
Cryptocurrency prices, charts, and market capitalizations.
https://coinmarketcap.com/
Etherscan. (2025).
Ethereum gas tracker.
https://etherscan.io/gastracker
Farside Investors. (2025).
Bitcoin and Ethereum ETF flow tracker.
https://farside.co.uk/btc/
RootData. (2025).
Crypto fundraising and venture capital database.
https://www.rootdata.com/Fundraising
Tokenomist. (2025).
Token vesting and unlock analytics.
https://tokenomist.ai/
Milk Road. (2025, August 21).
Ethereum gas fees. Milkroad.
https://milkroad.com/ethereum/gas/
The Block. (n.d.).
Bitcoin ETF. The Block.
https://www.theblock.co/data/crypto-markets/bitcoin-etf
BBC News. (n.d.).
BBC News live: Latest updates on digital assets and financial markets.
https://www.bbc.com/news/live/cx2xe98r4wrt
Bloomberg. (2025, September 11).
BlackRock seeks to tokenize ETFs after Bitcoin fund breakthrough.
https://www.bloomberg.com/news/articles/2025-09-11/blackrock-seeks-to-tokenize-etfs-after-bitcoin-fund-breakthrough
CoinCentral. (n.d.).
Solana price could surge to $1,300 as Galaxy Digital intensifies buying.
https://coincentral.com/solana-price-could-surge-to-1300-as-galaxy-digital-intensifies-buying/
IRS (Internal Revenue Service). (n.d.).
Final regulations and related IRS guidance for reporting by brokers on sales and exchanges of digital assets.
https://www.irs.gov/newsroom/final-regulations-and-related-irs-guidance-for-reporting-by-brokers-on-sales-and-exchanges-of-digital-assets
Wormhole. (n.d.).
Wormhole announces W-Token 2.0 upgrade.
https://wormhole.com/blog/wormhole-announces-w-token-2-0-upgrade
CoinCatch Team
Disclaimer:
Digital asset prices carry high market risk and price volatility. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance. CoinCatch is not responsible for any losses that may occur. This article should not be considered financial advice.
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