Welcome to the Beluga Brief, where we deliver data-driven insights to your inbox every day of the week, spending our time in the crypto trenches and combing through thousands of crypto news feeds so you don’t have to.

What happened today?

Markets took a breather today as Bitcoin was rejected off the top of the trendline that we’ve been stuck in since April, and as we mentioned in the Beluga Brief last week we are at a major decision point. On the positive side, we’ve seen major inflows returning to the Bitcoin ETFs in the last few days, China continues to push their stimulus plan, the US is expected to lower rates significantly once again, and market seasonality has turned in our favor as we exit September. On the negative side we have so far not been able to break out of this channel, and if we maintain the same pattern as throughout the summer BTC will likely head back down to the $55,000 area.

This week a few members of the Beluga team will be attending the events at Messari’s Mainnet conference in New York, so stay tuned for our update with everything important that goes down. The last few crypto conferences have seen the announcement of a number of highly anticipated token launches such as Debridge, and after EigenLayer announced their token would go live today we’re sure to see a few more announced this week. The market is getting hot, and all the big token teams that have been biding their time for conditions to improve seem to be ready to go now.

Biggest Headlines

The Beluga intern has been hard at work gathering all the most important crypto news stories so you have them in one place!

The Majors

• Bitcoin drops back below $65,000 to finish September on a down note

• The MicroStrategy effect: Rate of corporate Bitcoin buys accelerates

Alt Coins

• Amid a crowded sector, Scroll’s Sandy Peng says L2 ecosystem success hinges on having a quality team

Popular dApps

• Pump.fun is riding high again thanks to Moo Deng

• Trump inches close to Harris on Polymarket as betting passes $1 Billion

New Launches

• EigenLayer tokens to be released in coming hours, Futures trade at fully diluted $6.8B

Miscellaneous

• Trump announces start of KYC process for World Liberty Financial

Tweet of the Day

Blockchain intelligence company Arkham Intel has identified and published Tesla’s Bitcoin holdings.

Biggest Winners of September

With September coming to a close, we wanted to highlight some of the best performing tokens this month. Notably, the most a token in the top 100 by market cap dropped this month was less than 10% – Bulls are in charge!

The content on this site is for informational purposes only and should not be construed as investment advice. While Beluga strives to ensure the accuracy and timeliness of information, there may be discrepancies when comparing our data to that of financial institutions, service providers, or specific product websites. Always consult with a professional before making any financial decisions.

Will McKinnon is the Head of Content for Beluga and has spent every day for many years trading coins. For that reason there are too many to name, however his largest holdings by a significant margin are Ethereum and Bitcoin. NFA DYOR