Crypto market recap: Bitcoin slips below $109K as $1.1B in liquidations hit
The cryptocurrency market endured a sharp pullback over the past 24 hours, with total market capitalization dropping $150 billion to $3.70 trillion.
Analysts warn that a failure to hold the $3.67 trillion support could pave the way for further losses toward $3.58 trillion. The downturn was driven by hawkish U.S. macroeconomic data, uncertainty around Federal Reserve policy, and a wave of liquidations that unsettled traders.
Bitcoin and Ethereum under pressure
The U.S. economy expanded by 3.8% in the second quarter, far surpassing forecasts. This pushed Treasury yields to a three-week high, reducing expectations for an imminent rate cut.
Bitcoin (BTC) was hit the hardest, slipping below $109,000 and reaching its lowest level in nearly a month. Bitcoin plunged below $109,000, sliding to $109,357 at its weakest point, before finding tentative support near $108,000. Reclaiming the $110,000 level is now viewed as critical for recovery.
BTC price dynamics (September 2025). Source: TradingView
Meanwhile, Ethereum (ETH) fell more sharply, shedding about 8% in a single day and slipping under $3,850, erasing gains made earlier in the summer. According to CoinGlass, ETH longs accounted for nearly $400 million of the $1.1 billion in leveraged liquidations triggered across the market.
ETH price dynamics (September 2025). Source: TradingView
Altcoins mirrored the selloff. Solana (SOL) dropped another 6% in 24 hours and is down nearly 20% for the week, while Dogecoin (DOGE) and XRP also fell in tandem, underscoring a sector-wide retreat. Crypto-related stocks, including Coinbase and MicroStrategy, came under pressure as investor appetite for risk assets faded.
Fear and Greed Index Signals Rising Anxiety
The Crypto Fear & Greed Index slipped to 32, reflecting a swing back into “fear” territory. While not at capitulation levels, the reading suggests rising caution among market participants after weeks of choppy price action.
Analysts say the decline points to waning confidence but also highlights the potential for contrarian “buy-the-dip” positioning, particularly if macro conditions stabilize.
Outlook
Despite the downturn, trading volumes remain robust, with daily turnover surpassing $75 billion. Many observers view the selloff as a tactical retreat rather than a structural collapse, noting that long-term holders continue to accumulate.
Market attention now turns to upcoming U.S. economic releases, including inflation and labor data, which could determine whether crypto assets can regain upward momentum or remain pinned under macro headwinds.
Earlier, we reported that сrypto market plunge triggers $1 billion in liquidations.
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