Bitcoin reaches new all-time high at $111K, while Ethereum experiences ETF outflows but maintains support from corporate interests.

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In today's market update, we delve into some significant events that transpired on September 2 across various cryptocurrencies.

In the world of Ethereum (ETH), ETHZilla made a substantial move by deploying a staggering $100 million worth of ETH into EtherFi for restaking. This strategic move could potentially boost EtherFi's operations and contribute to the overall growth of the Ethereum network.

Meanwhile, in the Bitcoin (BTC) arena, BTC spot Exchange Traded Funds (ETFs) recorded a net inflow of $333 million on September 2. Fidelity's FBTC accounted for a substantial portion of this inflow, with an investment of $133 million. However, it's important to note that ETH spot ETFs experienced a net outflow of $135 million on the same day, with no ETF seeing any inflows.

SharpLink, a notable player in the cryptocurrency market, added 39,008 ETH to their holdings, bringing their total to 837,230 ETH. This purchase was made at an average cost basis of $4,531, reflecting a strategic investment in Ethereum.

BTC is currently holding the $110k - $112k zone, with a dense cost basis at approximately $110k, indicating the presence of around 1-3 million holders. This suggests a strong support level for Bitcoin at this price range.

Elsewhere, Strategy increased their BTC holdings by purchasing 4,048 BTC, raising their total to 636,505 BTC. They achieved a 25.7% Year-to-Date (YTD) BTC yield with this investment.

In the DOGE world, CleanCore managed to raise $175 million for a DOGE treasury. Gold also reached a record high of $3,600/oz, marking a 33% increase year-to-date.

Lastly, CEA Industries added 38,888 BNB to their holdings, aiming to hold 1% of the BNB supply by year-end. It's worth mentioning that only 9% of the BTC supply is currently in loss, which is a relatively shallow dip by cycle standards.

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As always, stay informed and make wise decisions!

Bitcoin reaches new all-time high at $111K, while Ethereum experiences ETF outflows but maintains support from corporate interests.