Sep 25 — BTC rejected at $87k, Bitget hack, stablecoin rules
from QuantAlpha Digital Asset Update
• Bitcoin tagged $87k intraday before retreating below $84,000 as Treasury yields surged — the rejection highlights how rate-sensitive crypto remains and raises risk-off concerns if yields keep climbing. • Crypto exchange Bitget reports $352M affected in a hack, claiming user funds are safe — even with balances backstopped, an event this size is likely to trigger short-term outflows from centralized exchanges. • The Federal Reserve advances proposals to implement the GENIUS Act for stablecoins — rules will shape the competitive landscape for USDC, USDT and bank-issued alternatives, likely favoring regulated issuers.
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