The crypto market saw small fluctuations following Fed chair Jerome Powell’s speech on September 23, which the experts called slightly hawkish. Bitcoin on Wednesday, September 24 reflected minor losses of under one percent. With this, the asset’s value dropped to $112,660. The seven day loss for the most expensive asset has widened to 3.77 percent, data by CoinMarketCap showed on Wednesday.
Market analysts have said that if bulls defend the $112,000 level, Bitcoin could target $114,800, with $111,200 offering immediate support. If bulls defend the $112,000 level, Bitcoin could target $114,800, with $111,200 offering immediate support.
“Bitcoin is trading range-bound between $112,000 and $113,000 as the market looks for hints on further rate cuts. While Powell’s speech was slightly hawkish, the core PCE data on Friday could decide the market sentiment going ahead. Meanwhile, on-chain data shows signs of optimism with 73,702 BTC accumulated by new wallets created in the past month. At the same time, “buy the dip” mentions on social media spiked recently, suggesting that fresh liquidity could enter the market,” Edul Patel, the CEO of Mudrex told CoinHeadlines.
Ether followed Bitcoin’s trajectory to reflect a minor dip of under one percent, CoinMarketCap showed. At the time of writing, ETH was trading at $4,175.
“Ethereum may show signs of resilience after climbing on optimism linked to the AI settlement, although futures positioning still points to caution. Market is closely watching whether Ethereum can rebound meaningfully and whether Bitcoin can stabilize within this range,” said Avinash Shekhar, co-founder and CEO of the Pi42 exchange.
Data by CoinMarketCap showed a majority of altcoins trading in losses. Tokens including Solana, Dogecoin, Tron, Cardano, Chainlink, and Avalanche among others clocked losses of under three percent. World Liberty Financial, OKB, Story, and Worldcoin also registered price drops over the last day.
The Ripple ecosystem, with its RLUSD stablecoin, is projected to become stronger, market experts have predicted.
“For Ripple, this is not a zero-sum dynamic where RLUSD sidelines XRP, but about developing synergy. A compliant stablecoin, integrated within the U.S. banking framework, can dramatically enhance liquidity and adoption on the XRPL. This creates a powerful feedback loop with increased RLUSD activity driving greater demand for XRP,” – Alexis Sirkia, captain of the L3 trading infrastructure Yellow Network said in conversation with CoinHeadlines.
Binance Coin rose by nearly three percent in the last 24 hours to trade at $1,015. LEO, Litecoin, Toncoin, Shiba Inu, Mantle, Monero, and Ethena managed to reel-in small gains.
The overall crypto market cap dipped by under one percent to claim the valuation of $3.88 trillion, showed CoinMarketCap.
“The current environment is marked by reduced momentum and macro uncertainty, but these consolidation phases often set the stage for the next significant move in the market,” Shekhar noted.