The cryptocurrency market slipped further into the red, falling 1.45% in the past 24 hours and extending its seven-day decline to 6%.
The move mirrors weakness in traditional markets, where risk appetite faded under pressure from central bank policy signals and mounting regulatory uncertainty. Ethereum bore the brunt of the drop, with leveraged liquidations and ETF delays amplifying losses.
Markets reacted negatively after Federal Reserve Chair Jerome Powell reiterated on September 24 that interest rates will remain restrictive for longer, citing persistent inflation and a cooling labor market. The Nasdaq tumbled 0.95% in response, while crypto assets moved sharply in the opposite direction. Correlation data showed crypto’s 24-hour link to the Nasdaq-100 turning strongly negative at -0.76, its most pronounced divergence since June 2025.
Capital rotated away from speculative assets, with Bitcoin’s market dominance climbing to 58.11%, a 0.39% increase in just 24 hours, as traders sought relative safety in the largest cryptocurrency.
Ethereum’s sell-off accelerated after the token lost its $4,000 support level. Data shows more than $210 million in ETH long positions were liquidated over 24 hours, marking the heaviest wipe-out since August. With total crypto derivatives open interest still elevated at $1.08 trillion, leverage amplified the downward pressure.
Funding rates across exchanges turned negative (-0.035% on average), signaling that short sellers are increasingly in control. Meanwhile, the spot-to-perpetual volume ratio slid to 0.25, highlighting the dominance of derivatives trading in driving recent price action.
Policy developments added another layer of volatility. The CFTC’s September 24 announcement to explore stablecoins as collateral for derivatives markets was welcomed as a positive long-term step. However, optimism was tempered by the SEC’s decision to delay rulings on Grayscale’s proposed Ethereum ETFs until October 20.
At the same time, Tether’s pledge to comply with the GENIUS Act, a stablecoin oversight bill in the U.S., stirred debate about tighter regulatory scrutiny on USDT. Together, these signals left investors unsure whether adoption tailwinds or compliance headwinds would dominate in the near term.
The combination of macro headwinds, cascading liquidations, and mixed regulatory signals has created a fragile setup for Ethereum and the broader market. Until ETH can reclaim the $4,000–$4,100 range with conviction, traders may remain cautious, with Bitcoin absorbing flows as a defensive play.
BlackRock is preparing to expand its Bitcoin ETF lineup with a new product designed to generate yield from the cryptocurrency’s volatility.
Crypto exchange Kraken has confirmed it raised $500 million in a recent funding round, bringing its implied valuation to $15 billion.
Stablecoins are expanding faster than expected, and Citi believes their role in global finance could be far larger than previously projected.
Bitcoin’s sharp retreat under the $111,000 mark has rattled global markets, setting off a chain reaction across cryptocurrencies and crypto-linked equities.
Artur Schaback, co-founder and former CTO of Paxful, faces up to five years in prison after admitting to failing to implement essential Anti-Money Laundering (AML) protocols at the cryptocurrency exchange.
Bitcoin and Ethereum head into a turbulent week as Wall Street digests a series of economic releases that could shape risk sentiment for the rest of September.
Momentum is building across the digital asset space as Bitcoin edges closer to its previous peak near $109,000, igniting renewed speculation about whether a broader altcoin surge is about to follow.
Last week Bitcoin and the wider crypto market experienced a significant down trend and this week might not be so different.
Ethereum (ETH) is showing significant signs of recovery in the current cryptocurrency market cycle.
After Donald Trump won the 2024 U.S. election, crypto markets experienced a significant uptick and Bitcoin reached a new all-time high (ATH).
The global crypto landscape has seen a dramatic rise in wealth creation over the past year, with new data pointing to sharp growth in the number of millionaires, centi-millionaires, and billionaires linked to digital assets.
Bitcoin miners have sold $2 billion worth of BTC since the beginning of June, the fastest sell-off in more than a year and bringing the total to a 14-year low.
Riot Platforms, a leading Bitcoin mining company, reported a 65% year-over-year revenue surge, totaling $84.8 million for the quarter.
Data from cryptocurrency exchanges indicates that significant amounts of capital have left the market over the past month, potentially stalling any short-term upward momentum.
In 2024, cryptocurrency adoption has surged, with global ownership climbing to 617 million, up from 580 million in December 2023.
Cryptocurrency phishing incidents saw a dramatic increase of over 215% in August, largely due to one major attack that resulted in losses of more than $55 million.
Deribit is launching BTC and ETH options expiring on November 8, 2024, ahead of the US presidential election.
Zoth, a platform specializing in re-staking real-world assets (RWA), has suffered a significant security breach, resulting in the theft of over $8.4 million in crypto.
Friend.tech, a Web3 social media platform, is under scrutiny following allegations of a rug pull.
A recent security breach at the crypto liquid restaking platform Bedrock resulted in a loss of around $2 million due to a smart contract vulnerability in its uniBTC vaults.
Pump.fun’s co-founder, Alon Cohen, recently shared insights about the platform’s innovative approach to token creation, emphasizing its focus on meme coins and the tools it offers users.
WOO X, a popular cryptocurrency trading platform, has been hit by a serious security breach.
According to blockchain investigator ZachXBT, who has been following the case closely, the breach was made possible by an exploit in the "seamless withdrawal system."
The Block reports that the Banana Gun team is currently investigating reports of a user wallet breach and has temporarily shut down the platform.
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Crypto Market: Why Prices Are Going Down Today – CryptoDnes.bg
