According to Fixygen, the cryptocurrency market in the second half of September will be primarily influenced by decisions from major central banks, U.S. consumer demand and inflation data, as well as a large-scale quarterly expiration of Bitcoin and Ethereum options.
The main event will be the U.S. Federal Reserve meeting on September 15–16. The interest rate decision will be announced on September 16. This meeting is particularly important because, along with the decision, the Fed will publish updated economic forecasts and the so-called “dot plot”—the members’ expectations regarding the future trajectory of interest rates.
Anticipation surrounding the meeting has intensified sharply following the release of August inflation data. Consumer prices in the U.S. rose 0.4% month-over-month and 3.4% year-over-year, while core inflation stood at 0.3% month-over-month and 2.4% year-over-year. A day earlier, the Producer Price Index (PPI) showed a 0.4% monthly increase and a 5.4% annual increase.
Against this backdrop, the market sharply raised its expectations for a 25-basis-point rate hike by the Fed. Throughout September 11, futures markets priced in the probability of such a decision at approximately 82–87%, whereas just a few days before the CPI release, the Reuters consensus forecast among economists had predicted that the rate would remain at 3.50–3.75%.
For cryptocurrencies, a rate hike is traditionally an unfavorable factor: it increases the yield on dollar-denominated assets, raises the cost of borrowed capital, and reduces investors’ risk appetite. However, Bitcoin’s reaction will depend not only on the decision itself but also on the Fed’s comments. If the regulator signals that the September hike is a one-off, the market may react much more calmly than if it were seen as the start of a new tightening cycle.
U.S. retail sales data for August, which will also be released on September 16, will take on added significance ahead of the meeting. In July, this figure fell for the first time in nine months. A strong recovery in consumer spending could bolster the case for higher interest rates, while weak sales could somewhat ease investors’ concerns about further policy tightening. The release date is confirmed by the U.S. Census Bureau. (
On the same day, the BLS will release the August import and export price indices. Typically, this indicator has a much smaller impact on the market than the CPI; however, in the current situation, investors will be closely watching for signs that high prices for energy and imported goods are spilling over into U.S. inflation.
The next key factor will be the Bank of Japan. Its meeting is scheduled for September 17–18. According to a Reuters survey, the central bank is expected to raise its policy rate by 25 basis points—to 1.25%, the highest level in 31 years.
For Bitcoin, the Bank of Japan’s decision is significant due to the carry trade mechanism. For many years, investors have borrowed cheap yen and invested them in more profitable and risky assets. Rising interest rates in Japan and a strengthening yen make such strategies less attractive and could lead to a reduction in leveraged positions in global markets, including cryptocurrencies. Fears of a unwinding of the yen carry trade have repeatedly been a source of heightened volatility in risky assets.
Another potential source of sharp fluctuations will be September 25, when a major quarterly expiration of cryptocurrency options takes place on Deribit. Based on calculations using exchange open interest as of September 9, approximately $14.4 billion in Bitcoin options and another roughly $1.8 billion in Ethereum options were outstanding as of that date. About 41.5% of the total open interest in Bitcoin options was concentrated in the September expiration.
An expiration date alone does not determine the market’s direction; however, such a large volume of contracts can increase short-term volatility. A study published in the September issue of *Finance Research Letters* also points to statistically significant intraday reversals in Bitcoin prices during option expiration periods, especially when large positions held by market makers are present.
On September 29, the market will receive the August JOLTS report on U.S. job openings. Following a strong August jobs report—which showed the U.S. economy added 162,000 jobs with an unemployment rate of 4.1%—the state of the labor market has become yet another argument for proponents of a more hawkish Fed policy. An unexpectedly high number of job openings could put pressure back on Bitcoin due to rising U.S. bond yields.
But the most important data following the Fed meeting will be released on September 30. The U.S. Bureau of Economic Analysis will simultaneously publish the third estimate of second-quarter GDP and data on Americans’ personal income and spending for August. This report contains the PCE price index—the primary inflation measure the Fed uses as a guide.
If the PCE shows rising inflationary pressure following the CPI and PPI, expectations for additional rate hikes by the end of the year could intensify. For Bitcoin, such a scenario would mean continued pressure from high bond yields and a strong dollar. Conversely, a weaker PCE could bring back market expectations that monetary tightening is coming to an end.
The situation is complicated by rising oil prices. The yield on 10-year U.S. Treasury bonds approached 5% on September 11—its highest level since 2023—as high oil prices intensified fears of a new wave of inflation.
In addition, on September 10, the European Central Bank raised its key rates by 25 basis points: the deposit rate will be 2.50% starting September 16. The ECB directly linked this decision to persistent inflationary pressures, particularly due to the conflict in the Middle East and rising energy prices.
Thus, the second half of September is shaping up to be a period of heightened macroeconomic risk for the crypto market. Over the next two weeks, investors will sequentially see the Fed’s decision, a possible rate hike by the Bank of Japan, a major quarterly expiration of crypto options, U.S. labor market data, and the key PCE inflation index.
In the base case scenario, the cost of global liquidity remains the key factor for Bitcoin. If the Fed and the Bank of Japan simultaneously tighten policy, and inflation in the U.S. remains high, pressure on risk assets may persist. However, if the Fed signals that rate hikes are nearing the end of the cycle, and the PCE shows a slowdown in price growth, the market may find a reason to rebound by the end of September.
The key indicator following each data release will be not only the figure itself but also the reaction of U.S. Treasury yields and the dollar: if they continue to rise, it will be more difficult for cryptocurrencies to regain ground, whereas a decline in yields and the dollar’s exchange rate could draw capital back into Bitcoin, Ethereum, and other risky assets.
As part of efforts to restore native fish species and preserve biodiversity, 17,412 European grayling were released into water bodies in Transcarpathia, according to the State Agency for Land Reclamation, Fisheries, and Food Programs.
The fish stock was raised using state budget funds at the “Lopushno” trout hatchery, which is under the jurisdiction of the State Agency for Fisheries. The average weight of the fry was 5.45 grams.
The stocking covered water bodies important for the conservation and natural reproduction of this species. The juveniles were released into the tributaries of the Black Tisa, the Krasnoshurka River—a tributary of the Teresva—the Rika River and its tributaries, as well as into the Terelya River within the Synevyr National Nature Park.
The European grayling (Thymallus thymallus) is listed in Ukraine’s Red Book. It inhabits clean, well-oxygenated mountain rivers and serves as an indicator of their ecological health.
In the near future, the State Fisheries Agency plans to stock Transcarpathian rivers with juvenile Danube salmon (golovatitsa).
The Ukrainian engineering and construction company “Rauta” has been included in the list of taxpayers with a high level of voluntary compliance with Ukrainian tax legislation, the company reported, citing Order No. 600 of the State Tax Service dated August 31, 2026.
According to Rauta, the company fulfills its tax obligations in a timely and complete manner and has no tax arrears.
“Responsible business is not just about fulfilling obligations, but first and foremost about the values that guide the company every day. Honesty in all aspects of our work and the conscientious payment of taxes are our contribution to strengthening Ukraine’s economy,” said Andriy Ozeychuk, director of Rauta.
On September 7, the State Tax Service reported that as of August 2026, 9,706 business entities had been included in the new list of taxpayers with a high level of voluntary compliance with the law—the highest number since the list was first compiled. Compared to August 2025, their number increased by nearly 36%.
Of the total, 9,132 are legal entities, including 5,068 companies under the general taxation system, 484 “Diya.City” residents, 1,707 legal entities that are Group III single-tax payers, and 1,873 Group IV single-tax payers. Another 574 entities on the list are individual entrepreneurs.
The companies included in the list paid 192.7 billion UAH in taxes to the consolidated budget from January through June 2026, representing 16.23% of all tax revenues for that period. The State Tax Service intends to publish the official list, approved as of August, on its website on September 18. Notifications were sent to the included taxpayers via their online accounts on September 1.
The State Tax Service compiles this list quarterly. General requirements include having no tax arrears or violations of reporting deadlines, not being classified as a high-risk VAT payer, and having no sanctions or bankruptcy proceedings. For legal entities under the general tax system, the list also takes into account the level of corporate income tax and VAT payments compared to industry averages, as well as employee salary levels.
Rauta has been operating in the Ukrainian construction market for over 25 years and specializes in the design, supply, and installation of structures for commercial and industrial buildings, the renovation of facilities, and general contracting. The company is the exclusive supplier in Ukraine of commercial products from the Finnish Ruukki Group. According to Rauta, the company has completed over 1,000 projects and supplied more than 2 million square meters of sandwich panels since its inception.
The total market capitalization of the global stablecoin market has reached approximately $305.4 billion, continuing to grow amid the widespread adoption of digital dollars in cryptocurrency payments, trading, and decentralized finance, according to Fixygen.
According to DefiLlama, as of September 10, 2026, the supply of stablecoins has increased by approximately $1.69 billion, or 0.56%, over the past seven days, and by 1.6% over the past 30 days.
Tether (USDT) remains the largest stablecoin with a market capitalization of about $183.4 billion. It accounts for approximately 60% of the entire segment.
In second place is USDC, issued by Circle, with a market capitalization of about $74.5 billion. Over the past month, its supply has increased by approximately 3%.
Thus, the two largest dollar-pegged stablecoins alone control about 84.4% of the entire market.
In third place is Sky Dollar (USDS) with a market capitalization of approximately $6.64 billion, followed by DAI at $4.79 billion and Ethena USDe at approximately $4.44 billion.
USDe has recently shown the most notable growth among major stablecoins: its market capitalization has increased by approximately 13% over the past month.
The growth in stablecoin market capitalization is an important indicator of the state of the cryptocurrency market. Unlike the rise in the value of Bitcoin or Ethereum, an increase in the market capitalization of dollar-pegged tokens largely signifies the emergence of additional nominal volume of digital dollars that can be used for trading, remittances, lending, and other transactions within the cryptoeconomy.
Therefore, the growth in the supply of stablecoins is often viewed as an indicator of increased available liquidity. However, this in itself does not guarantee further growth in Bitcoin or other crypto assets—some of the funds may be used for settlements, international transfers, or held outside of risky assets.
The market structure remains extremely concentrated: USDT accounts for six out of every ten dollars of the segment’s market capitalization, and the gap between Tether and its closest competitor, USDC, exceeds $108 billion.
Stablecoins are digital tokens whose value is typically pegged to traditional currencies, primarily the U.S. dollar. They are one of the main settlement instruments in the cryptocurrency market and, at the same time, are increasingly being used beyond its borders for international payments and money transfers.
Data source: DefiLlama Stablecoins
The Central Mining and Processing Plant (CMMC, Kryvyi Rih, Dnipropetrovsk Oblast), part of the Metinvest Group, continues to fulfill its environmental obligations. From January through June of this year, it allocated 23.8 million UAH to environmental initiatives and an additional 12.9 million UAH to air quality protection measures.
According to the company, these figures were announced following the implementation of the Collective Bargaining Agreement for the first half of 2026.
It is noted that despite the challenges of wartime, the company continues to fulfill its commitments regarding wages, safety, training, social protection, and youth development. In the first half of the year, the average salary for the company’s employees was 27,957 thousand UAH, representing a 10.2% increase compared to the same period in 2025.
Over 28 million UAH was allocated to occupational safety measures during the first half of the year.
TsGZK is one of the five largest producers of ore raw materials in Ukraine. It specializes in the extraction and production of iron ore raw materials—concentrate and pellets.
TsGZK is part of the Metinvest Group, whose major shareholders are PJSC “System Capital Management” (SCM, Donetsk) (71.24%) and the “Smart-Holding” group of companies (23.76%). The management company of the Metinvest Group is Metinvest Holding LLC.
According to Fixygen, Ethereum is becoming the second-largest digital asset—after Bitcoin—that public companies are using to build corporate cryptocurrency reserves.
According to The Block’s Ethereum Treasury Tracker as of September 9–10, 2026, the nine publicly traded companies tracked hold a total of approximately 7.63 million ETH on their balance sheets. The value of these reserves is estimated at approximately $19 billion.
BitMine Immersion Technologies has emerged as the clear leader. The company announced on September 8 that it had increased its portfolio to 5.929 million ETH. In addition, BitMine holds 211 BTC, cash and marketable securities totaling $593 million, as well as a number of other investments.
The company estimates the total value of its cryptocurrency, cash, and marketable securities at $15.7 billion.
According to BitMine’s own estimates, the 5.93 million ETH it owns accounts for approximately 4.9% of the total Ethereum supply.
At the same time, the company has already staked approximately 5.067 million ETH. At the time of the announcement, BitMine valued this amount at approximately $12.6 billion.
SharpLink ranks second among public corporate holders of Ethereum with 868,700 ETH worth approximately $2.15 billion, followed by Dynamix Corporation in third place with 496,700 ETH worth approximately $1.24 billion.
Next are Bit Digital with 158,500 ETH, BTCS with 70,100 ETH, and Forum Markets with 69,800 ETH.
Thus, BitMine alone controls about 78% of all ETH held in specialized corporate Ethereum reserves tracked by The Block.
The emerging model resembles the strategy that Strategy began implementing with Bitcoin several years ago, though there is a significant difference with Ethereum. A company can not only hold the digital asset in anticipation of its value increasing but also stake it to earn additional returns.
At the same time, this model carries additional risks—ranging from ETH volatility to fluctuations in staking yields and a potential discount on the company’s stock relative to the value of the Ethereum it holds.
As of September 10, ETH is trading at $2,470.
Data source: Ethereum Treasury Tracker
