Bitcoin Falls Below $77,000 as Meme Coins Lead the Sell-Off | Hotcoin Research | September 7–13, 2026

Crypto Market Performance

The total cryptocurrency market cap currently stands at $2.66 trillion, with BTC accounting for 59.1%, or approximately $1.57 trillion. The stablecoin market cap stands at $305.2 billion, up 0.38% over the past seven days, with USDT accounting for 60.07%.

Among the top 200 projects on CoinMarketCap, most posted gains while a smaller number declined. Over the past seven days, BTC rose 0.37%, ETH gained 2.95%, SOL increased 0.63%, HYPE advanced 1.58%, and RAY surged 65.5%.

Market Outlook (September 14–20):

The RSI stands at 41.5 (Neutral), the Fear & Greed Index at 70 (Greed), and the Altcoin Season Index at 38 (Neutral).

Crypto market outlook: The crypto market weakened noticeably ahead of key macroeconomic data releases, with BTC retreating to around $78,000. Liquidity conditions tightened, while altcoins came under greater selling pressure.

BTC: $73,500–$83,000 (failure to hold $78,000 could trigger a pullback)

ETH: $2,200–$2,600 ($2,300 is a key support zone)

SOL: $85–$110 (key support at $95)

HYPE: $75–$95 (key support at $86)

Risks to Watch

• FOMC Meeting Is the Key Macro Risk

The Federal Reserve will hold its FOMC meeting on September 15–16, with the decision due in the early hours of September 17, Beijing time. The market is currently pricing in a 50%–60% chance of a rate hike. A rate hike or a hawkish signal from the dot plot could trigger another round of deleveraging. Analysts warn that a sharp rise in rate-hike expectations could push Bitcoin back into a lower trading range. Investors may consider reducing exposure ahead of the decision.

• ETF Inflows Lose Momentum, Buying Support Fades

The latest data shows that U.S. spot BTC ETFs recorded approximately $100.7 million in net outflows on September 9, despite seeing around $987 million in net inflows the previous week. Institutional investors have become more cautious ahead of key macroeconomic data. If ETF outflows continue next week, support for BTC around $78,000 could weaken further.

• HYPE Faces Major Unlock Pressure in Late September

HYPE unlocked about 9.92 million tokens on September 6, worth around $820 million, increasing the token supply by about 1%. Traders are now focused on a larger unlock expected in late September, estimated at $860 million–$1.2 billion. Whether demand can absorb the additional supply will be key to whether HYPE can hold near its all-time highs. The 14-day RSI is close to 80.9, placing HYPE in overbought territory and pointing to a risk of consolidation.

Market Highlights

• Bitcoin Extends Losses, Briefly Falls Below $77,000

Bitcoin fell below $77,000 early on September 11, marking its fourth consecutive day of losses and a weekly decline of nearly 4.8%. The decline came as hotter-than-expected U.S. inflation data and rising oil prices amid Middle East tensions weighed on the market. Concerns that inflationary pressure could prompt the Federal Reserve to raise interest rates next week have put risk assets under pressure.

• Market Diverges Sharply as Meme Coins Lead the Sell-Off

While Bitcoin remained relatively stable, the broader market saw a sharp structural sell-off. The CoinDesk Meme Coin Index plunged 10% in a single day, while the small-cap index fell 5.1% and the large-cap asset index declined just 2.3%, showing that capital is rapidly moving away from highly speculative assets.

• 24-Hour Liquidations Exceed $440 Million, with Longs Taking the Biggest Hit

According to Coinglass data, total crypto liquidations reached $446 million over the past 24 hours, including $352 million in long liquidations. Bitcoin and Ethereum longs saw $111 million and $74.01 million in liquidations, respectively. The largest single liquidation occurred on Bitget’s ETHUSDT contract, valued at $22.63 million.

• Spot Bitcoin ETF Flows See Sharp Swings

ETF flows reversed sharply during the week. Spot BTC ETFs recorded approximately $987 million in net inflows for the week ending September 4. However, buying momentum quickly cooled, with net outflows reaching $46.6 million on September 8 and widening to $100.7 million on September 9, reflecting caution ahead of key macroeconomic data releases.

• Liquid Network Hit by “White-Hat” Attack, $320 Million in Bitcoin Stolen

The Liquid sidechain was exploited through a vulnerability in the Elements software. The attacker minted unbacked LBTC and withdrew about 4,000 BTC, worth approximately $320 million, temporarily depleting 95% of its reserves. The attacker described themselves as a “white hat” and returned 3,400 BTC after Blockstream fixed the vulnerability. However, about 598.5 BTC, worth approximately $47.88 million, remain unrecovered.

• Bithumb Designates Hemi (HEMI) as a Trading Caution Asset

Bithumb announced that Hemi has been designated a trading caution asset because a security vulnerability in the smart contract used for its initial reward distribution caused some tokens to be released unexpectedly.

• UK House of Lords Backs National Digital Asset Strategy

The UK House of Lords voted 194–138 in favor of an amendment requiring the Treasury to develop and publish a national digital asset strategy and hold a public consultation on it within 12 months of the Financial Services and Markets Bill becoming law, marking another step toward greater regulatory clarity.

• Gemini Singapore Subsidiary Secures Major Payment Institution License

Crypto exchange Gemini announced that its Singapore subsidiary has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), allowing it to provide digital payment token services and cross-border money transfer services.

• Nine Swiss Institutions Begin Testing CHFD Stablecoin

The Swiss franc stablecoin project has entered the testing phase, with nine institutions, including UBS, PostFinance, and Sygnum, participating. The tests cover use cases such as automated trading, tokenized asset settlement, and programmable payments to explore how a digital currency pegged 1:1 to the Swiss franc could be used in financial infrastructure.

• Forbes Updates Crypto Rankings, TRX Enters the Top 10

Forbes Advisor released its latest cryptocurrency rankings for September, with TRON’s native token TRX joining BTC, ETH, BNB, XRP, Solana, and others in the top 10. The rankings consider factors including utility, store-of-value characteristics, and market performance. All selected cryptocurrencies have market caps above $5 billion.

Macro Update

• On September 10 at 20:15, the European Central Bank announced its deposit facility rate at 2.5%, in line with expectations, up from 2.25%.

• On September 10, U.S. initial jobless claims for the week ending September 5 came in at 206,000, slightly above expectations of 205,000. The previous reading was revised from 206,000 to 207,000.

• On September 11, CME FedWatch data showed a 60.4% probability that the Federal Reserve would keep interest rates unchanged in September and a 39.6% probability of a 25-basis-point rate hike.

Looking Ahead

Industry Conferences

• Shanghai Blockchain International Week will take place in September 2026. As a key event of the week, the 12th Blockchain Global Summit, hosted by Wanxiang Blockchain Labs, will open on September 23 at the Grand Ballroom of Hyatt on the Bund in Shanghai.

• ETHRome 2026 will be held in Rome, Italy, from September 11 to 13, 2026.

• ETH Taipei 2026 will be held in Taipei from September 13 to 15.

• KBW2026 will be held in Seoul, South Korea, from September 29 to October 1.

Key Events

• The U.S. Senate will reconvene on September 14, and progress on the CLARITY Act has been postponed until after the Senate returns.

• The CLARITY Act is scheduled for a procedural vote in the U.S. Senate at 2:00 p.m. local time on September 15 (2:00 a.m. Beijing time on September 16).

• At 22:30 on September 16, the EIA will release U.S. crude oil inventory data for the week ending September 11.

• At 02:00 on September 17, the Federal Reserve will announce its interest rate decision.

• At 20:30 on September 17, the U.S. will release initial jobless claims data for the week ending September 12.

Project Updates

• UK-listed Bitcoin treasury company Satsuma plans to delist on September 14. The company will also sell all of its Bitcoin holdings and return capital to investors.

• DeFi yield protocol Pyra has ceased operations, and investors must complete withdrawals by September 15.

• Korea Exchange will introduce after-hours ETF trading from 16:00 to 20:00 starting September 14.

• The U.S. Securities and Exchange Commission will host a roundtable on September 17, 2026, to discuss the transition toward 24-hour trading in the U.S. stock market.

Token Unlocks

• Starknet (STRK) will unlock 127 million tokens on September 15, worth approximately $3.83 million and representing 3.48% of its circulating supply.

• Sei (SEI) will unlock 55.55 million tokens on September 15, worth approximately $2.6 million and representing 0.86% of its circulating supply.

• Arbitrum (ARB) will unlock 92.65 million tokens on September 16, worth approximately $13.85 million and representing 1.59% of its circulating supply.

• ZKsync (ZK) will unlock 172 million tokens on September 17, worth approximately $1.67 million and representing 2.52% of its circulating supply.

About Us

Hotcoin Research is the research and insights division of Hotcoin, dedicated to turning professional research into actionable market insights.

Through Weekly Insights and In-Depth Research Reports, we help investors understand market trends, underlying dynamics, and emerging opportunities across the digital asset ecosystem. Our Elite Picks series combines AI-assisted screening with analyst-driven research to identify assets worth monitoring and help investors evaluate opportunities more efficiently.

Through regular livestreams, our research team provides timely analysis of market developments and major industry trends. We believe that informed decision-making and a long-term perspective can help investors navigate market cycles and capture lasting value in Web3.

Risk Warning

The cryptocurrency market is highly volatile, and investment inherently carries risk. We strongly recommend that investors fully understand these risks and invest within a strict risk management framework to protect their capital.

Website: https://www.hotcoin.com/r/Hotcoinresearch

X: x.com/HotcoinAcademy

Email: labs@hotcoin.com