Rate Hike Lands, SEC Boosts Sentiment as BTC Reclaims $77K

On September 18, risk assets staged a recovery, with BTC climbing back above $77,000. U.S. Treasury yields, the dollar, and international oil prices all moved lower, while U.S. stocks snapped a three-session losing streak, led by technology and semiconductor shares.

At the same time, the U.S. SEC introduced an exemption framework for tokenized securities trading, further lifting sentiment across DeFi, RWA, and public blockchain sectors. Capital also began rotating from BTC into higher-beta altcoins.

Oil and Treasury Yields Retreat as Tech Stocks Lead

All three major U.S. stock indexes rebounded on Thursday. The Dow rose 0.61%, the Nasdaq gained 1.69%, and the S&P 500 advanced 1.14%. Technology and semiconductor stocks led the gains, with Intel up 7.67%, AMD rising 6.36%, Micron Technology gaining 5.50%, and Nvidia adding 2.54%.

The easing in market pressure was mainly driven by lower oil prices and Treasury yields. Brent crude fell to around $104, while WTI dropped below $100. The 10-year U.S. Treasury yield eased to around 4.93%, reducing discount-rate pressure on highly valued technology stocks.

In Asia, the Bank of Japan raised its policy rate by 25 basis points to 1.25%, the highest level in 31 years and its second hike in three months. As the move had already been largely priced in, Japanese equities showed little negative reaction, with the Nikkei 225 instead rising around 1.9%.

However, global monetary policy has yet to enter a broad easing cycle. The Fed’s latest dot plot suggests another rate hike may still be possible this year, while the Bank of Japan continues to normalize policy. For risk assets, the current rebound is therefore closer to a short-term recovery following declines in oil prices and Treasury yields, rather than confirmation that liquidity conditions have turned accommodative.

BTC Reclaims $77K as ETF Inflows Resume

BTCC market data shows BTC trading at around $77,474, up 1.39% over the past 24 hours. The price rebounded from around $75,000 and moved back above $77,000, though it remains within its recent trading range.

Fund flows have improved. On September 17, U.S. spot Bitcoin ETFs returned to net inflows of around $160 million, providing spot-market support for BTC’s rebound.

Technically, if BTC can hold above $77,000, it could continue testing $78,000-$79,000, with further resistance at $80,000. If it falls back below $76,000, the market may need to watch for another test of $75,000 support. Whether the rebound is accompanied by continued ETF inflows and stronger spot trading volume will be more meaningful than a simple breakout above any single price level.

Rather than focusing solely on price thresholds, sustained ETF inflows and expanding spot volume will provide a clearer indication of whether the current rebound can continue.

ETH Recovers Gradually as Altcoin Rotation Accelerates

ETH followed the broader market higher and is currently trading at around $2,486, up 1.89% over the past 24 hours. After finding support in the $2,380-$2,400 region, ETH has continued to recover, with short-term lows gradually moving higher. The price has now returned close to the $2,500 level, indicating improved market support.

However, continued outflows from spot ETH ETFs are still limiting upside momentum. Spot Ethereum ETFs recorded net outflows for a third consecutive session, with around $39.3 million leaving on the day and approximately $405 million in cumulative outflows over three trading days.

On the upside, $2,500 remains the key short-term level. A high-volume breakout could open the way for a test of $2,550-$2,600. Support sits at $2,450, while a break below $2,400 could bring the weak structure back into focus.

The altcoin market has strengthened noticeably, with the DeFi sector gaining nearly 7%. Over the past 24 hours, UNI rose more than 25%, NEAR gained around 30%, ARB climbed about 20%, OP advanced roughly 15%, and HYPE rose more than 10%. Capital has mainly rotated into DeFi, Ethereum scaling ecosystems, and tokenized-asset themes, creating a clear pattern of structural rotation across the market.

SEC Tokenization Policy Fuels DeFi and RWA Narratives

The U.S. SEC introduced an “Innovation Exemption,” allowing eligible tokenized securities trading venues to facilitate trading in certain tokenized U.S. equities through permissioned automated market makers and liquidity pools. The temporary exemption will remain effective for five years.

Importantly, this does not represent a full opening of tokenized stock trading. The policy still includes restrictions on eligible assets, transaction size, disclosure requirements, and technical safeguards.

From a market perspective, however, the policy provides a clearer regulatory testing framework for on-chain securities, blockchain-based liquidity, and secondary trading of tokenized assets. It also improves the longer-term outlook for DeFi, RWA, and related public blockchain ecosystems.

This has also been one of the key catalysts behind the recent strength in assets such as UNI, ARB, and OP.

Market Watch

The market is currently in a phase of easing macro pressure, a low-level BTC recovery, and structural rotation into altcoins, but this is not yet enough to confirm a broad trend reversal.

Three short-term signals are worth watching: whether spot Bitcoin ETFs can continue attracting net inflows, whether oil prices and Treasury yields can keep falling, and whether BTC can break above $78,000-$80,000 on stronger volume.

If all three align, the current recovery could extend further. Otherwise, the market may remain range-bound with continued sector rotation. For altcoins that have already posted sharp gains, investors should also watch for profit-taking once the policy catalyst is fully priced in.

Risk Warning: Some of the views in this article are drawn from public media sources and are for reference only. They do not constitute any investment advice or trading recommendation. Markets involve risks, and trading should be approached with caution. Please ensure you have appropriate risk controls in place.