Market Overview - Bitcoin (BTC) and most other digital assets experienced a decline in U.S. trading, with Bitcoin down 3% over the past 24 hours, currently priced at $91,100 [1] - The CoinDesk 20 Index, which tracks the top 20 crypto assets, is trading nearly 4% lower, with XRP leading the decline at over 8% [1] - Ether (ETH) also saw a decrease of 3.6%, despite Morgan Stanley's recent announcement to offer a spot ETH ETF [1] Precious Metals and Digital Asset Stocks - The crypto selloff occurred while the Nasdaq increased by 0.5%, but precious metals like gold and silver retreated, with gold down 1% and silver down 5% [2] - Digital asset treasury (DAT) stocks did not gain significantly from MSCI's announcement regarding Strategy (MSTR), which remains in its indexes for now. MSTR saw a 1% gain, while Bitmine Immersion (BMNR) fell by 6%, Sharplink Gaming (SBET) decreased by 2%, and XXI (XXI) dropped by 5% [3] MSTR to IBIT Ratio - On a weekly basis, the ratio of MSTR to the iShares Bitcoin Trust (IBIT) has bounced off the 3-level for the second consecutive week, currently trading around 3.11. This ratio previously held 3 as support in March 2024 before peaking at 9.5 in November 2024, coinciding with MSTR's all-time high [4]

🔥 UPDATE: BlackRock spot ETH ETF bought 30,260 $ETH worth $127.5M on Sept. 30. https://t.co/OHUSAnwDAF ...

Core Insights - Ethereum experienced a significant decline from its all-time high of $4,953, dropping 13% to a current trading price of $4,320, influenced by consecutive selloffs and ETF outflows [1][2]. Group 1: Market Sentiment and ETF Activity - The US-based spot ETH exchange-traded funds faced a net outflow of $1.04 billion from August 29 to September 8, contributing to negative market sentiment [1]. - On September 9, there was a notable inflow of $44.2 million into spot ETH ETFs, primarily driven by BlackRock's ETHA fund, while other similar products remained neutral [2]. Group 2: Accumulation Trends - Despite the bearish sentiment, Ethereum investors continued to accumulate, with approximately 226,400 ETH (valued at around $980 million) leaving centralized exchanges in the past week [3]. - Kraken recorded the highest outflow of nearly 146,000 ETH, followed by Coinbase and Bitfinex with outflows of 105,170 ETH and 34,330 ETH, respectively [3]. Group 3: Market Dynamics and Future Outlook - Binance and Bybit saw net inflows of 34,500 ETH and 20,400 ETH during the same period, indicating a shift in investor behavior [4]. - The anticipation of a Federal Reserve rate cut may act as a bullish catalyst for Ethereum and the broader crypto market, with a critical price level to watch being the psychological barrier of $4,500 [4].