Bitcoin Falls Below $115,000, Ethereum Weak, XRP, and Solana Also Slide – Crypto Market Update, Sept 22
Last week, the crypto market witnessed a tremendous bull run, with Bitcoin and major altcoins touching short-term highs. However, bullish momentum failed to sustain over the weekend, and the market declined by Monday. Today, September 22, Bitcoin has fallen below $115,000, while coins like Ethereum, Ripple (XRP), Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) have also slid from their recent highs.
Market experts expect this week to be dominated by macroeconomic updates and the U.S. Federal Reserve Chairman Jerome Powell’s speech will be a crucial factor for crypto prices. U.S. Q2 GDP data and August inflation numbers are also due on Thursday and Friday, which will further shape market sentiment.
Bitcoin Price Today – BTC Below $115K
Bitcoin (BTC) is currently trading at $114,516.68, down 1.04% in the last 24 hours. BTC’s market cap is at $2.28 trillion, and daily trading volume hit a record $12.86 billion.
Although it has declined, BTC is still holding a crucial support zone above $110,000. According to analysts, if Powell’s speech and GDP numbers reflect a bullish sentiment, BTC could regain momentum towards around $120,000. However, if the macroeconomic outlook remains negative, BTC’s support at $110,000 could be tested.
Ethereum Price Today – ETH Weakness Continues
Ethereum (ETH) has declined 4.17% over the past 24 hours and is currently trading at $4,293.01. ETH has a market cap of $518.80 billion, and a daily trading volume of $14.56 billion.
Most importantly, Ethereum has fallen by more than 10% in the past week. After breaking the $4,400 support zone, ETH tested $4,300. This clearly shows that bears are quite active in ETH and buyer momentum is weak. Until ETH closes back above $4,500, its recovery potential appears limited.
XRP Price Today
Ripple (XRP) is also under pressure. The price of XRP has fallen to $2.89, a 4.02% decline in 24 hours. Its market cap is $172.94 billion, while trading volume has reached a record $3.60 billion.
XRP has fallen by approximately 5.29% in the past seven days. Despite currently being among the top five cryptos, XRP investors are struggling to generate short-term returns.
Binance Coin (BNB) – A Star Performer in the Market
While all major coins are in decline, Binance Coin (BNB) has shown exceptional resilience. BNB is currently priced at $1,033.33, with a market cap of $144.05 billion.
The biggest highlight is that BNB has gained 12.33% in the past seven days and 17.40% in the past month. It has currently become one of the best-performing assets among large-cap cryptos, and analysts predict BNB is heading towards a new all-time-high (ATH) if momentum continues.
Solana (SOL) Price Today
Solana (SOL) is currently trading at $231.52, down 3.74% in 24 hours. Interestingly, Solana has posted a solid gain of 13.45% over the past week.
With a market cap of $125.91 billion and a daily trading volume of $3.36 billion, SOL continues to hold a strong altcoin position in the market. Despite the short-term decline, the long-term sentiment appears positive.
Dogecoin (DOGE) – Heavy Fall
Meme coin Dogecoin (DOGE) saw the biggest decline. DOGE’s price fell 7.48% to $0.2487. Its market cap is $37.68 billion and trading volume is $2.25 billion.
Retail investor interest in DOGE remains strong, but bears are continuously pressuring the price.
TRON (TRX) and Cardano (ADA) Update
TRON (TRX) is trading at $0.3400, down 1.78%, with a market cap of $32.22 billion.
Cardano (ADA) slipped to $0.8510, down 5.41% in 24 hours and 6.90% on a weekly basis.
Altcoins are clearly showing weakness, and major tokens are breaking their support levels.
Stablecoins – Tether and USDC
Stablecoins Tether (USDT) and USD Coin (USDC) have maintained their peg. USDT is trading at $1.00 and USDC at $0.9998.
Tether has a market cap of $172.10 billion.
USDC has a market cap of $73.97 billion.
Crypto Market Outlook
Overall market sentiment is currently weak. Trading volumes are seeing a noticeable decline, but interestingly, ETF inflows remain positive, reflecting confidence among long-term investors.
Among the top gainers, Story (IP) jumped 8.92%, and DeXe (DEXE) rose 2.34%. Pump.fun (PUMP) declined sharply by 13.50%, MYX Finance (MYX) and Aster (ASTER) declined by more than 12%, and SPX6900 (SPX) was down 11.45%.
Analysts say the crypto market could regain momentum if macroeconomic data is positive, but for now, expect volatility and pressure in the short term.