⚠️ Crypto Market Correction Deepens Amid S&P 500 & Dollar Index Volatility

Despite a 25-bps interest rate cut announced by Fed Chair Jerome Powell earlier this week – a major pivot in U.S. monetary policy – the crypto market is struggling to gain traction. Instead, it has turned into a classic “sell-the-news” event.

🔑 Key Developments:

▫️ Bitcoin (BTC): Failed to secure a daily close above $117,200; currently trading under $116,000.

▫️ Altcoins: Ethereum (ETH), XRP, Solana (SOL), and Dogecoin (DOGE) all down ~5% over the past week.

▫️ Liquidations: $283M liquidated in the last 24 hours – $242M from long positions (Coinglass data).

At the same time, the S&P 500 hit a record high above 6,600 on Friday, Sept 19, while the Dollar Index entered risky territory. Notably, Bitcoin and the broader crypto market are losing correlation with the S&P 500 – a trend that could reshape investor strategies.

Crypto analyst Ted Pillows has warned that September’s triple witching expiration may trigger short-term market weakness, predicting a 15-20% altcoin correction that could impact top names like ETH, XRP, SOL, and DOGE.

This moment underscores the growing complexity between traditional and digital markets. Investors may need to rethink risk management as macro volatility accelerates.

Do you think the crypto market’s decoupling from equities is temporary – or the start of a bigger shift?

#CryptoMarkets #Bitcoin #Altcoins #FederalReserve #MarketTrends

https://coingape.com/crypto-market-correction-intensifies-as-sp-500-dollar-index-enter-dangerous-territory/?utm_source=coingape&utm_medium=linkedin