Key Facts
- Bitcoin closed flat at US$84,379 after an early dip below US$84,000, as stronger US business data lifted the odds of an October Federal Reserve rate increase to 69.7%.
- Ethereum added 0.10% to US$2,687 while Solana jumped 1.77% to US$117.01 and XRP rose 2.17% to US$1.5331 in Thursday’s session.
- Stablecoins dominate Latin America Brazil posted US$6.9 billion in first-quarter 2026 crypto volume with 98% in dollar-pegged tokens, far outpacing Bitcoin trading.
- Argentina leans on digital dollars more than 70% of Bitso crypto purchases were USDT or USDC, and roughly 75% of crypto-paid workers chose stablecoin salaries.
- El Salvador’s crypto remittances grew 39.1% to US$35.4 million in the first half of 2026, yet they remain just 0.7% of total remittance flows.
- The Federal Reserve proposed stablecoin rules on 24 September requiring backing by safe and liquid assets, par redemption and new reserve disclosures under the GENIUS Act.
Today’s Focus
Bitcoin closed at US$84,379 on Thursday, September 24, unchanged on the day, after early selling pushed it below US$84,000. The trigger was a hot US purchasing-managers’ index reading of 58.4, the fastest business expansion since 2021.
That data lifted the probability of a 25-basis-point Federal Reserve hike in October to 69.7%, pushing US Treasury yields to a 19-year high. Higher yields make cash and bonds more rewarding compared with volatile assets such as Bitcoin.
Solana and XRP outperformed, gaining 1.77% and 2.17%, while Ethereum rose 0.10%. The news was dominated by a US$352 million hack at the Bitget exchange and the Fed’s new stablecoin rules on reserves and redemption windows.
For Latin America, the real story is stablecoins. Brazilians sent US$6.9 billion through crypto in the first quarter, 98% of it in dollar-pegged tokens, while Argentines used USDT and USDC for over 70% of Bitso purchases.
What matters today. Bitcoin’s flat close masks a market squeezed between rising US rate expectations and Latin America’s deepening reliance on dollar-pegged stablecoins for payments and savings.
01 The session in one read
Bitcoin closed Thursday, September 24, at US$84,379, down a negligible 0.00%, after an early slide below US$84,000 was cushioned by buyers near US$83,600.
The jolt came from the preliminary US September purchasing-managers’ index at 58.4, the fastest expansion since 2021, which pushed the odds of an October Federal Reserve rate increase to 69.7%.
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02 The board
Bitcoin settled at US$84,379, while Ethereum ticked up +0.10% to US$2,687. The large-cap market diverged: Solana advanced +1.77% to US$117.01, and XRP led the board with a +2.17% gain to US$1.5331.
That split shows traders rotated into faster-moving tokens even as Bitcoin stalled against the backdrop of 19-year-high Treasury yields.
| Asset | Level | Change |
|---|---|---|
| Bitcoin | US$84,379 | -0.00% |
| Ethereum | US$2,687 | +0.10% |
| Solana | US$117.01 | +1.77% |
| XRP | US$1.5331 | +2.17% |
Source: RT close, 2026-09-24. Where a commodity has no spot feed, an exchange-traded tracker or leading producer is shown as a labelled proxy.
Live Market IntelligenceThe live market board
Rio Times · Live Market Intelligence
Latin America — Cross-Market Board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 172,236.05 | +2.22% | +10.94% | 168,498.45 | 172,236 | 168,498 | — |
| IPSA | 10,589.61 | +0.50% | — | 10,536.54 | 10,650 | 10,550 | — |
| IPC MEX | 72,104.80 | +1.00% | +13.89% | 71,393.57 | 72,227 | 71,366 | 180,043,849 |
| MERVAL | 2,848,945 | — | -10.97% | 2,859,051 | — | — | — |
| COLCAP | 2,576.36 | +3.67% | — | — | — | — | — |
| USD/BRL | 5.51 | +0.04% | +3.33% | 5.51 | 5.51 | 5.51 | — |
| EUR/BRL | 6.18 | +0.85% | +0.30% | 6.13 | 6.19 | 6.18 | — |
| USD/MXN | 18.53 | -0.51% | +0.47% | 18.63 | 18.56 | 18.51 | — |
| USD/CLP | 966.96 | -0.99% | +3.97% | 976.64 | 975.74 | 966.06 | — |
| USD/COP | 3,267 | +0.81% | -12.58% | 3,240 | 3,267 | 3,267 | — |
| USD/PEN | 3.41 | -1.07% | +3.19% | 3.44 | 3.41 | 3.41 | — |
| USD/ARS | 1,545 | -0.02% | +9.71% | 1,546 | 1,545 | 1,545 | — |
| USD/UYU | 40.45 | +0.35% | +3.06% | 40.31 | 40.45 | 40.45 | — |
| USD/PYG | 6,450 | +1.45% | -7.23% | 6,358 | 6,450 | 6,450 | — |
| USD/BOB | 11.74 | -0.59% | +74.26% | 11.81 | 11.74 | 11.74 | — |
| USD/DOP | 60.46 | -0.21% | -4.73% | 60.59 | 60.46 | 60.46 | — |
| USD/CRC | 446.56 | -0.38% | -8.72% | 448.27 | 446.56 | 446.56 | — |
| USD/GTQ | 7.64 | -0.05% | +2.13% | 7.64 | 7.64 | 7.64 | — |
03 What moved it
The dominant driver was the US rates picture. The PMI survey’s input-price gauge hit its highest since October 2022, reinforcing bets that the Federal Reserve will raise rates by 25 basis points in October.
A separate shock was the US$352 million hack of the Bitget exchange, in which a newly created wallet drained hot and cold reserves across multiple blockchains in under an hour.
The Federal Reserve also proposed new stablecoin rules on 24 September, covering reserve backing, par redemption and disclosures for issuers it supervises under the GENIUS Act.
04 The Latin American read
Bitcoin’s flat session matters less for Latin America than stablecoin flows. Brazil recorded US$6.9 billion in crypto volume in the first quarter of 2026, and 98% of that was in dollar-pegged tokens rather than Bitcoin speculation.
In Argentina, where inflation and currency controls persist, more than 70% of Bitso crypto purchases were USDT or USDC, and roughly 75% of workers paid in crypto chose stablecoin salaries.
El Salvador offers the contrast: digital-currency remittances rose 39.1% year on year to US$35.4 million in the first half of 2026, but that represented only 0.7% of total remittances, showing Bitcoin’s official role outpaces everyday use.
05 The names to watch
Bitget’s breach will weigh on exchange tokens and custody confidence, even though the loss was absorbed from the platform’s reserves.
The Fed’s stablecoin proposals from Washington could reshape issuance for banks and nonbanks alike, with par-redemption and reserve standards that may pressure smaller Latin American issuers.
ONDO rallied as the top performer among major tokens on Thursday, benefiting from the same rising-yield environment that pressured Bitcoin, because its tokenised Treasury products gain appeal when rates climb.
06 The outlook
Bitcoin is likely to trade around US$83,600 to US$84,400 until the October Federal Reserve meeting clarifies whether the 69.7% hike probability becomes a reality.
For Latin America, the more durable trend is the formalisation of stablecoin rails: Brazil’s 98% stablecoin dominance and Argentina’s digital-dollar habit suggest demand for dollar exposure will keep growing regardless of Bitcoin’s short-term swings.
07 What to watch
- October Fed meeting: A 25-basis-point hike or a firm signal could send Bitcoin below US$83,600 yet again.
- US Treasury yields: At 19-year highs they compete directly with crypto; further yield rises would likely cap any Bitcoin rally.
- Bitget hack fallout: Whether users recover funds and whether regulators respond will set the tone for exchange trust globally.
- Brazil stablecoin regulation: The Fed’s new model for reserves and redemptions may become a template Latin American supervisors copy.
Frequently Asked Questions
Why did Bitcoin close flat on Thursday?
Bitcoin steadied at US$84,379 after strong US business data lifted October Fed hike odds to 69.7%, pushing Treasury yields higher and capping demand.
Which major cryptocurrencies rose?
Solana gained 1.77% to US$117.01, XRP rose 2.17% to US$1.5331, and Ethereum added 0.10% to US$2,687.
How important are stablecoins in Latin America?
They dominate: 98% of Brazil’s US$6.9 billion first-quarter crypto volume was in stablecoins, and over 70% of Argentina’s Bitso purchases were USDT or USDC.
What happened with El Salvador’s crypto remittances?
Digital-currency remittances hit US$35.4 million in the first half of 2026, up 39.1%, but still only 0.7% of total remittances.
Market data: RT
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error
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