The cryptocurrency market has sharply declined in the past 24 hours: global market capitalization has fallen to $3.75 trillion, with Bitcoin and many large altcoins losing significant value.
According to CoinMarketCap data, selling pressure increased after political moves and concerns about the Fed's interest rate decision, making investors wary of short-term risks in September.
MAIN CONTENT
Market capitalization dropped 3.87% to $3.75 trillion according to CoinMarketCap.
Bitcoin decreased 3.77% to $108,675; Ethereum and many altcoins lost about 4%.
September has a precedent for sharp declines in 4-year cycles; risks increase with upcoming inflation data.
How has the market been over the past 24 hours?
Brief answer: According to CoinMarketCap, global market capitalization fell 3.87% to $3.75 trillion, reflecting strong short-term selling pressure.
Analysis: In 24 hours, Bitcoin fell 3.77% to $108,675, Ethereum dropped nearly 4% to $4,340. The simultaneous decline indicates that investors are reacting to political news and concerns about monetary policy rather than inherent technical factors.
What is the specific impact on major coins?
Brief answer: Many major coins lost value, with XRP being the hardest hit among the top group, dropping over 5% to $2.83.
Analysis: Cardano fell 4.4% to $0.82; Dogecoin lost over 4%; Solana dropped to $205. The downward spread from Bitcoin to altcoins reflects risk sentiment: when BTC weakens, altcoin liquidity often declines more sharply.
Coin Current Price 24-hour Change Bitcoin $108,675 -3.77% Ethereum $4,340 nearly -4% XRP $2.83 over -5% Solana $205 — Dogecoin — over -4% Cardano $0.82 -4.4%
Why does September often perform negatively in history?
Brief answer: The 4-year cycle history shows several sharp declines in September, creating short-term adjustment pressure.
Analysis: Previous cycles recorded significant declines in September—2013, 2017, and 2021 all experienced major drops during this period. These fluctuations often coincide with economic data and policy decisions, causing cash to flow out of risk assets.
What are the short-term prospects and key support levels?
Brief answer: If history repeats, the market may undergo a 2-3 week adjustment; the $100,000 mark is a key support level for Bitcoin.
Analysis: Analysts warn that higher-than-expected PCE data could trigger a deeper drop, pushing Bitcoin down another 10-20% and altcoins 30-50% in an optimal scenario. Short-term drops often set the stage for strong rallies in Q4 during previous cycles.
Current risk factors
Brief answer: The main risks include political volatility, the Fed's interest rate decisions, and upcoming inflation data.
Analysis: Political interference in monetary regulation increases instability; combined with inflation data, it could change monetary policy outlooks, directly affecting cash flow into risk assets like cryptocurrencies.
Frequently Asked Questions
Does the recent sharp decline in the market signal the start of a long-term downtrend?
Not necessarily; history shows that September can be a short-term shakeout, after which many cycles record strong recoveries in Q4.
What is the current key support level for Bitcoin?
The $100,000 mark is considered a key support area in this context; losing this area could expand short-term downward pressure.
How will the upcoming inflation data affect the market?
If the PCE is higher than expected, selling pressure may increase significantly; conversely, mild data could ease tensions and stabilize the market.
What should be done if holding altcoins at this time?
Reassess risk levels, consider taking partial profits or setting stop-loss; prepare for significant volatility in September if history repeats.
Source: https://tintucbitcoin.com/lo-redtember-bitcoin-duoi-110k-xrp-5/
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