No Crypto Mention During Harris-Trump Debate!

Here's what we've got for you today:

• Harris-Trump Debate: Trump’s Odds to Win Election Fall 3% on Polymarket

• Analysts Say Bitcoin ETF Outflows Are Part of Market’s Natural Evolution

• Altcoin Market Resilience Signals ‘Potential Regime Change’ - Analysts

• Digital Chamber Fights Back Against SEC Overreach into NFTs

📊 Harris-Trump Debate: Trump’s Odds to Win Election Fall 3% on Polymarket

Kamala Harris and former President Donald Trump didn’t mention crypto once during their first debate on Tuesday.

• The Sept. 10 debate between Harris and Trump mainly centered on key issues like the economy, abortion rights, immigration, and foreign policy.

• Trump's odds of winning the election dropped by three percentage points on Polymarket, bringing him and Harris neck and neck.

• Bernstein analysts previously predicted that a Trump victory on Nov. 5 could lead to a Bitcoin rally to $90,000 by year-end.

🪴 Analysts Say Bitcoin ETF Outflows Are Part of Market’s Natural Evolution

BTC recently experienced a big drop in price, which was accompanied by consecutive days of net outflows from U.S. spot ETFs.

• Between Aug. 27 and Sept. 6, U.S. Bitcoin spot ETFs were hit with around $1.2 billion in net outflows.

• Bloomberg's senior ETF analyst, Eric Balchunas, described these outflows as a natural part of ETF market behavior and not a cause for alarm.

• Balchunas also pointed out that the success of Bitcoin ETFs lies in their ability to retain assets during market downturns, not just in attracting capital during bullish periods.

💪 Altcoin Market Resilience Signals ‘Potential Regime Change’ - Analysts

Altcoins have remained fairly strong despite Bitcoin’s recent downturn, which suggests that investors might be adjusting how they safeguard their capital.

• Bitfinex analysts noticed a potential shift in investor behavior, with investors exploring value from altcoins rather than the typical pattern of flocking to Bitcoin during downturns.

• Bitcoin's dominance in the crypto market fell by 1.3% as its price recently declined, while the market cap of cryptos outside the top ten increased by 4.4%.

• Traders very often consider a peak in Bitcoin dominance as a signal to sell Bitcoin and reallocate capital into altcoins.

🥊 Digital Chamber Fights Back Against SEC Overreach into NFTs

The Digital Chamber is urging the U.S. Congress to classify certain NFTs as consumer products to protect them from SEC enforcement.

• The U.S. SEC issued a Wells notice against NFT platform OpenSea, which prompted the call to action from the Digital Chamber.

• The Digital Chamber believes that many NFTs are similar to traditional collectibles or artwork and should not be classified as investment tools or securities.

• The group is concerned that the SEC is using regulation-by-enforcement without clear congressional guidance, which could potentially threaten the NFT and digital asset industries.

👀 QUICK NEWS

• US Spot Bitcoin ETFs See $117M in Inflows, Ethereum ETFs Register $11M

• Polygon’s MATIC Sees Major Whale Activity, Puts Price Under Pressure

• Standard Chartered Launches Bitcoin and Ethereum Custody in UAE

• Atomic Wallet Wins Dismissal of Class Suit Over $100M Hack

• Community Defends Vitalik’s Layer 2s Stance by Addressing Misconceptions in Roadmap

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