BTCC Weekly Highlights (Sep. 22–28): Muse Reignites the AI Trade as BTC Retreats After Testing $87K

In the final week of September, markets rotated rapidly among three major themes: AI, crypto and macro policy. Meta’s newly launched AI agent, Muse, climbed to the top of the U.S. app download charts within just two weeks, adding nearly $200 billion to Meta’s market capitalization at one point and reigniting the global AI trade. In crypto, BTC briefly broke above $87,000, while ZEC continued to set new highs for the current rally, reaching nearly $1,690.

At the same time, long-term U.S. Treasury yields moved higher again, while a series of Federal Reserve officials reinforced their inflation-fighting stance, driving a notable increase in market expectations for another rate hike in October.

Looking ahead, the September U.S. jobs report and the latest PCE inflation data will be critical in determining the path into the October FOMC meeting. Reuters noted that the market’s focus has shifted from “whether the Fed will keep hiking” to “whether the pace of tightening will accelerate.” If employment and inflation remain resilient, expectations for another consecutive hike in October could strengthen further.

Hot Topics Recap

1. Meta Muse Goes Viral as AI Agents Become the Next Growth Narrative for Tech Stocks

Meta’s next-generation personal AI agent, Muse, became the hottest technology product of the week. Muse can connect to email, calendars, payments and shopping apps, autonomously handling tasks such as sending emails, booking travel, shopping and managing everyday activities.

Less than two weeks after launch, Sensor Tower data showed that downloads had exceeded 2.5 million, taking Muse to the top of Apple’s U.S. App Store. Since the launch, Meta shares have risen more than 20%, including an 11% single-day jump on Sep. 21, while the company’s market value increased by nearly $200 billion.

Related Asset: META

Commentary: Reuters reported that Muse recorded roughly 2.8 million downloads in its first 12 days, with early user growth outpacing ChatGPT’s initial launch trajectory. That suggests Muse has the potential to become one of the most widely used consumer AI applications since ChatGPT.

Muse’s breakout is shifting the AI investment narrative from “who has the strongest model?” toward “who owns the strongest distribution channel?” That is Meta’s biggest advantage over pure-play AI companies. The next valuation test, however, will be whether downloads can translate into paid revenue and sustained high-frequency engagement.
Recommended Reading:
The Next AI “Killer App”? Just How Hot Is Meta Muse?
Zuckerberg’s New AI Tool Tops the Download Charts as OpenAI Rushes to Respond
Meta’s Muse Inspiration Is Only Slightly Smarter Than “AI Ordering Coffee”
Goodbye Metaverse: Meta Goes All-In on “Personal Superintelligence”

2. ZEC Hits Another High, Briefly Approaching $1,690

Zcash extended its strong performance from the past month. On Sep. 23, ZEC gained around 10% in a single day and broke above $1,600. On Sep. 26, it climbed further to a new local high of approximately $1,688.

Although the token subsequently pulled back, it was still trading near $1,580 as of Sep. 28, with a market capitalization of around $26 billion, keeping it among the largest crypto assets by market value.

Related Asset: ZECUSDT

Commentary: Beyond the price rally, ZEC’s fundamentals have improved materially. Higher prices, renewed inflows into shielded pools, increased miner investment and expanding traditional institutional products are reinforcing one another in a positive feedback loop.

After several weeks of rapid gains, the key question is no longer simply whether ZEC can keep setting short-term highs. More important is whether the 1,500–1,600 area can become a stable new price center and whether real privacy demand can continue growing alongside the token’s price.
Recommended Reading:
Zcash (ZEC) Jumps to $1,521 as Grayscale Announces a 3-for-1 Split for Its Zcash ETF
ZEC’s Largest Miner Produces 70,000 Coins in Six Months and Targets the U.S. Stock Market via Reverse Merger
Bankless Co-Founder: Bitcoin Buying Is Spilling Over as ZEC and NEAR Capture the Blue-Chip Narrative

3. U.S.-China Leaders Meet as Trade Truce Is Extended by Two Months

U.S. President Donald Trump and Chinese President Xi Jinping met in Washington on Sep. 24. The two sides ultimately agreed to extend the existing U.S.-China trade truce by another two months, creating additional time for negotiations, but no new comprehensive trade agreement was announced.

U.S. Treasury Secretary Scott Bessent said the two-month extension would allow both sides to continue discussing economic and trade issues.

Commentary: Reuters Breakingviews had argued ahead of the meeting that the most realistic goal of the summit was not a “grand deal,” but simply preventing the trade conflict from escalating again. The final outcome broadly matched that assessment.

The more accurate significance of the meeting is that it extended the period of stability rather than resolved structural disagreements. Markets will now watch whether more concrete progress can be made on agricultural purchases, rare-earth supplies and technology restrictions before the truce expires.
Recommended Reading:
China’s Commerce Ministry Officials Explain the Outcome of the Eighth Round of U.S.-China Trade Talks
Previewing the September Trump-Xi Meeting: The Truce Is Priced In, but AI Could Be the Surprise Upside

4. BTC Retreats After Testing $87,000 as High Rates Return as an Overhead Pressure

BTC remained strong in the first half of the week. From Sep. 21 to 22, Bitcoin surged from around $82,000 and briefly broke above $87,000, reaching its highest level in roughly eight months. The move was accompanied by a clear short squeeze.

On Sep. 24, BTC quickly pulled back into the 83,300–84,000 range.

Related Asset: BTCUSDT

Commentary: The latest move highlights two opposing forces currently shaping Bitcoin.

On one side are spot ETF demand and an improving regulatory environment. ETF flows have turned positive again year-to-date, signaling a meaningful recovery in institutional demand. On the other side, stronger long-term Treasury yields and a firmer U.S. dollar are once again raising the opportunity cost of holding non-yielding assets.

For now, $87,000 has become the new short-term resistance zone, while 83,000–84,000 forms the first layer of support.
Recommended Reading:
Bitcoin Pulls Back to $83K as Altcoin Rotation May Continue
Bitcoin ETF Inflows Rise by $5.3 Billion Following the U.S. Treasury Buyback Program
Bitfinex Analysts: Bitcoin Bull Market Depends on $85,000 Support and Fresh Buying
Bitcoin ETF Inflows Confirm the Uptrend Above $86K

5. October Fed Hike Expectations Rise as Back-to-Back Tightening Returns to the Market

After the Federal Reserve raised rates by 25 basis points in September, markets increased their expectations this week for another hike in October. On Sep. 22, rate futures priced in an October hike probability of around 53%. By Sep. 23, following strong PMI data and hawkish signals from several Fed officials, that probability had risen to roughly 70%. The U.S. Dollar Index also climbed to its highest level in nearly two months.

Commentary: Goldman Sachs now explicitly expects the Fed to raise rates by another 25 basis points in October. Its reasoning is that if the Fed frames consecutive hikes as necessary to bring inflation “back toward the 2% target in a more timely manner,” action at two consecutive meetings becomes the more natural policy path.

This week’s U.S. employment and PCE data will provide the key test. If employment remains strong and core inflation fails to cool meaningfully, market pricing for another October hike could rise further. If not, rate expectations could reset quickly.
Recommended Reading:
Why the Fed May Still Need to Hike Again in October
Citi Sees No Fed Rate Cuts Before June 2027 — More Pressure for Crypto?
Inside the Treasury Market’s “Black Wednesday”: A Perfect Storm and Rising Talk of an October Fed Hike

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Institutional Research, Top Voices and Trading Strategy: This Week’s Recommended Reads

Deep Dive: Bitcoin Mining Is Undergoing a Dramatic Restructuring as the Shift Toward AI Becomes Irreversible
Sequoia Capital Closed-Door Session: From “Delivering Software” to “Delivering Outcomes” — New Logic for AI Monetization and Capital Pricing
BlackRock Publishes “Intelligent Economy” White Paper: How Digital Assets Connect Intelligence, Commerce and Computing
Bernstein: ChatGPT Share Falls to 64% as the Consumer AI Battle Shifts Toward Agents
Nomura Warns of a Stocks-and-Bonds Selloff: The Next Market Storm Could Start With Rate Volatility
Arthur Hayes’ Latest Bullish View: Every Policy Move Leads to More Money PrintingBernstein: SEC Gives Tokenized Stocks the Green Light as Wall Street and Crypto Converge
Coin Metrics Report: The Competition in Tokenized Equities and the Road Ahead
Coinbase Chief Business Officer: Stablecoins Are the Oil of On-Chain Finance

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