Radhika Parashar
- Bitcoin’s price has come to $109,527
- The price of ETH has slipped to $3,950
- The crypto fear and greed index score has dropped to 32, indicating a sentiment of fear among investors
The crypto market continues to remain in slumber as September draws closer to an end. Bitcoin on Friday, September 26 saw a price drop of 2.11 percent. With this, Bitcoin’s price has come to $109,527 — marking its lowest price point in over two months. On a weekly-level, the most expensive cryptocurrency has tumbled by 6.37 percent, data by CoinMarketCap showed on Friday.
Market analysts have said that bulls need to defend the $110,000 mark for BTC to maintain an upward trajectory. The key support level for the asset stands at $107,500.
“Bitcoin is showing signs of recovery, trading near $109,800 after testing the $108,700 support level. Traders remain cautiously optimistic ahead of Friday’s $22 billion monetary options expiry. However, the selling pressure could ease after the expiry as BTC derivatives show strong resilience. On the other hand, Bitcoin ETFs saw a strong $241 million in net inflows, helping build momentum,” Edul Patel, CEO of Mudrex told CoinHeadlines.
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Ether joined Bitcoin in registering a loss of 2.05 percent in the last 24 hours. With this, the price of ETH has slipped to $3,950. In the last seven days, ETH’s loss has widened to 13.6 percent.
“Ethereum has plunged under $4,000 with over $36 million liquidated, amplifying downside momentum. These moves reflect rapid unwinding and concentrated selling across sectors. The crypto market is under significant pressure as hot macro data has dashed rate cut hopes and traders reassess risk,” said Avinash Shekhar, the co-founder and CEO of the Pi42 exchange.
More crypto assets reflected losses on the price chart as of Friday. Ripple, Binance Coin, Solana, Dogecoin, Cardano, Chainlink, and Stellar logged losses within the range of two to six percent. Avalanche dipped by 11 percent in the last 24 hours to trade at $28 as of Friday.
“Solana has slid beneath $200 as ETF speculation cools and XRP has fallen sharply, dragging crypto linked stocks lower. These moves reflect rapid unwinding and concentrated selling across sectors,” Shekhar noted.
Cronos, Mantle, Monero, and OKB emerged among a handful of tokens to reflect small gains amid the slowed down market momentum.
The overall crypto market cap roped-in a loss for the fifth consecutive day. As of Friday, the valuation of the sector stands at $3.75 trillion having clocked a loss of 2.10 percent, CoinMarketCap showed.
The crypto fear and greed index score has dropped to 32, indicating a sentiment of fear among investors.
