Bitcoin traded at $85,362 as the New York equity session opened on 23 September 2026, down -0.82% over 24 hours. Ether slipped to $2,710. Crypto holders now face a session where Bitcoin Cash and Zcash are absorbing capital that recently sat in the two largest tokens.
What actually happened
Bitcoin sits at $85,362, down -0.82% over 24 hours, after a high of $87,251 and a low of $85,266. 24-hour volume reached $40.53 billion; market capitalisation is $1.71 trillion. Ether trades at $2,710, down -1.68%, between a high of $2,787 and a low of $2,714, with a market capitalisation of $330.81 billion. Bitcoin matched Monday's high near $87,251 before hitting the same selling, while Bitcoin Cash surged 28% on a CME futures listing and Zcash added 9%, according to CoinDesk. Separately, Galaxy added $100 million (USD) in Sky's sUSDS to its treasury and approved it as institutional loan collateral, per The Block.
How we got here
Bitcoin has tested resistance near $87,251 several times this week, per CoinDesk's live coverage, and that level held again on 23 September 2026. The rejection coincided with a rotation of volume into Bitcoin Cash and Zcash. Bitcoin Cash's move followed a new CME futures listing, giving institutional traders a regulated venue for exposure. Galaxy's sUSDS purchase follows a broader pattern this year of large crypto firms deepening ties with onchain lending protocols.
Why this matters for you
For BTC and ETH holders, the rotation into Bitcoin Cash and Zcash shows capital can shift quickly between majors and smaller tokens. For builders, Galaxy's move signals growing acceptance of yield-bearing stablecoin tokens like sUSDS as loan collateral. Traders should note that a regulated futures listing, as with Bitcoin Cash, can pull volume and price action away from spot markets in the short term.
The bigger question
If a single regulated futures listing can redirect trading volume this fast, as Bitcoin Cash's CME listing did overnight, does price discovery for major cryptocurrencies increasingly move away from spot exchanges? As institutional treasuries keep adopting yield-bearing tokens like sUSDS as loan collateral, where should the line sit between a stablecoin and a lending instrument, and who decides?
What to watch
Watch whether Bitcoin retests its $87,251 high from the past 24 hours, and whether Bitcoin Cash and Zcash hold their overnight gains as the New York session progresses. No new date has been given for further Galaxy or Sky announcements. Bonuz will track how CME's Bitcoin Cash futures volume develops in the sessions ahead.
This article is information, not financial advice. Prices are a snapshot and change constantly. Nothing here is a recommendation to buy or sell any asset. Do your own research.
