Pump.fun repurchased its PUMP token for 7,496 SOL, increasing the total PUMP purchases to 617,749 SOL as the revenue surged to 7,498 SOL on Tuesday. Token buybacks often lead to a price surge due to reduced supply and a show of confidence. The key resistance levels for the creator economy token on the same chart are $0.006788 and $0.007655, based on previous bottoms from September 20 and September 17, respectively.
Bitcoin price started the week on a positive note, rallying nearly 2% on Monday and closing above the 50-day Exponential Moving Average (EMA) at $113,402. On Tuesday, BTC edged slightly down and found support around the 50-day EMA. At the time of writing on Wednesday, it trades slightly higher at around $114,369. If the 50-day EMA at $113,402 continues to hold as support, BTC could extend the recovery toward the daily resistance at $116,000.
Ethereum (ETH) is down 1% on Tuesday after bowing before the resistance of a descending trendline. The decline comes amid inflows of $547 million into US spot ETH exchange-traded funds (ETFs) on Monday, marking the end of a five-day outflow streak. Notably, the nine products saw inflows simultaneously for the first time since their launch in July 2024, with Fidelity’s Ethereum Fund (FETH) and BlackRock’s iShares Ethereum Trust (ETHA) leading with $202.18 million and $154.20 million, respectively.
