Bitcoin’s upward momentum is fading, and markets are weighing rising U.S. rate-hike expectations alongside stalled crypto legislation. Some analysts say bitcoin could fall back into the $50,000 range if expectations for U.S. interest-rate increases escalate sharply. The CLARITY Act, a U.S. digital-asset market bill, is stuck in congressional deliberations; a Sept. 15 vote will decide whether lawmakers end that discussion. Prediction-market contracts now put the bill’s odds of passing by 2026 below 20%, down from above 50% in July. Crypto analyst Shoji Nishiyama said sharper rate-hike expectations could send bitcoin to $50,000 again. He also flagged potential IPOs by OpenAI and Anthropic as an additional headwind, since those listings may pull some venture capital away from crypto. Not everyone is concerned. Other analysts believe the recent decline may already be over for now, and attention is shifting to the autumn macro and policy environment. The key question is whether bitcoin can keep trading inside the $60,000–$85,000 range over the coming weeks. Nikkei reported the analysis.

Enflame Technology has set its STAR Market IPO price at RMB 142.18 per share, with planned fundraising of about RMB 6.119 billion and an implied valuation above RMB 60 billion. The company opened online and offline subscription on Sept. 2, drawing attention from retail investors betting on a strong debut. Under a rough calculation cited in the source, a first-day gain of more than 400% would leave one winning lot of 500 shares with paper profit above RMB 280,000. Tencent appeared again in the final strategic placement roster through Shanghai Qishan Investment Co., Ltd., its wholly owned equity investment platform. The vehicle was allotted about 1.7471 million shares worth roughly RMB 248 million, subject to a 36-month lock-up. According to the prospectus details cited in the report, Tencent has backed Enflame in multiple private rounds since 2018, holds more than 20% cumulatively, and is the company’s largest external shareholder. Tencent is also Enflame’s largest customer, contributing more than 80% of sales revenue in 2025. The report also places Enflame’s listing in the context of a broader harvest cycle for Tencent’s hard-tech bets, alongside ChangXin Technology, Zhipu, MiniMax, Sinovent-like biotech applicant Xinnuowei, and DPU company Yunbao Intelligence.

Tom Lee predicts Bitcoin could reach $150,000 as institutions buy crypto stocks, calling current rally just the first wave. Former SEC and CFTC officials co-signed a letter urging risk-calibrated regulation to attract offshore perpetual futures back to the U.S. Bitfinex Securities lists 5 tokenized notes linked to Strategy and other Bitcoin reserve companies. 21 global financial institutions commit to forming a joint stablecoin company targeting 2027 launch. Other key stories: OSL Group revenue up 65.8%, Kraken parent partners with LSE to tokenize 100 UK stocks, Fed's Barr warns of rate hikes if inflation persists, Singapore MAS consults on stablecoin regulation, Thai SEC proposes allowing retail to trade overseas crypto derivatives, and more.

Dragonfly managing partner Haseeb Qureshi said in a post on X that the initial public offerings of Anthropic and OpenAI could amount to the largest liquidity transfer in history from global institutions to "San Francisco futurists." In his view, the most concentrated beneficiaries of that capital would be San Francisco real estate and cryptocurrencies. Qureshi also pointed to employee lockup mechanics, saying such restrictions typically expire 180 days after an IPO. Based on that timeline, he said that if Anthropic goes public in mid-October as expected, the process would likely begin in April 2027 and continue with OpenAI’s IPO the following year. The comments were cited by ChainCatcher as part of a market analysis update.

BitMEX co-founder Arthur Hayes, who recently predicted HYPE could hit $150, has sold all his HYPE and NEAR holdings, citing Middle East tensions, AI IPOs, and Trump policy risks.

Cerebras Systems set its IPO at $185 per share, targeting $5.5B raise at a $40B valuation, nearly 5x its $8.1B value 8 months ago. Bitcoin dropped 9% and CoinDesk 20 fell 19% as risk capital floods into AI. Upcoming SpaceX and OpenAI IPOs could deepen the drain.

Goldman Sachs reports $120 billion in US IPO proceeds by mid-2026, matching 2021's record pace. However, crypto firms like Kraken, Consensys, and Grayscale have delayed their listing plans amid market uncertainty.

Bitcoin slipped back below $80,000 in Hong Kong trading as on-chain resistance held firm. Data points to weaker Asian participation, quiet spot ETF activity in Hong Kong, and a shift in regional risk capital toward AI and tech IPOs.