Market Signal Briefing

By Reuters

September 26, 20256:18 AM UTCUpdated ago

The logo of Italian multinational energy company Eni is displayed at their booth during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo Purchase Licensing Rights, opens new tab

CompaniesROME, Sept 26 (Reuters) - Italy's antitrust regulator said on Friday it had fined Italian energy major Eni

(ENI.MI), opens new tab and five other oil companies operating in the country for practices restricting fair competition in the sale of fuel for trucks.

The antitrust body said the fines totaled more than 936 million euros ($1.09 billion) and had been levied against Eni, Esso, Ip, Q8, Saras and Tamoil.

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($1 = 0.8562 euros)

Reporting by Gavin Jones, editing by Alvise Armellini

Our Standards: The Thomson Reuters Trust Principles., opens new tab

By Reuters

September 26, 20256:28 AM UTCUpdated ago

The logo of Boeing company is displayed at the Australian International Airshow in Avalon, Australia March 26, 2025. REUTERS/Hollie Adams/File Photo Purchase Licensing Rights, opens new tab

COPENHAGEN, Sept 26 (Reuters) - Norwegian Air Shuttle

(NAS.OL), opens new tab said on Friday it had exercised an option to buy an additional 30 Boeing 737 MAX 8, bringing its total firm order to 80 aircraft.

"This milestone aircraft order is on attractive terms and secures our fleet growth in a way that supports our planned growth and sustainability targets," CEO Geir Karlsen said in a statement.

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The airline confirmed the final aircraft delivery is now scheduled for 2031, following adjustments to the delivery timeline. It initially announced the deal for 50 aircraft in 2022.

Reporting by Stine Jacobsen, editing by Terje Solsvik

Our Standards: The Thomson Reuters Trust Principles., opens new tab

FILSPARI® (sparsentan) suggested for IgA Nephropathy patients who are at risk of progressive kidney function loss ST. GALLEN, Switzerland, and SAN DIEGO , Sept.

Accenture is cutting staff it can't retrain in the AI era — but says head count will still grow in the next fiscal year.

Joan Cros/NurPhoto via Getty Images

2025-09-26T06:39:00Z

Accenture is "exiting" staff the company can't reskill for the AI era.
Despite layoffs, CEO Julie Sweet said head count is expected to grow in the next fiscal year.
"Advanced AI is becoming a part of everything we do," Sweet said.

Accenture is remaking its workforce for the AI era — and that means both layoffs and new hiring.

Executives said on a Thursday earnings call that the firm has been "exiting" employees it can't retrain with artificial intelligence skills, while simultaneously planning to expand head count in the next fiscal year.

"Our No. 1 strategy is upskilling," CEO Julie Sweet said on the call. But "we are exiting on a compressed timeline, people where reskilling, based on our experience, is not a viable path for the skills we need."

Despite the cuts, Sweet said Accenture's head count is expected to increase across all markets — including the US and Europe — in the coming financial year.

The firm employed more than 779,000 people at the end of August, Sweet said, down from about 791,000 three months earlier.

Accenture booked about $615 million in restructuring charges in the latest quarter, mostly tied to severance, said Angie Park, the chief financial officer, on the call. After an additional charge this quarter, the figure is expected to climb to about $865 million.

Alongside what the company calls "rapid talent rotation," Park said Accenture will also divest two acquisitions.

"These actions will result in cost savings which will be reinvested in our people and our business," Park said. She declined to give a figure when an analyst asked about the scale of hiring.

Accenture has been building up its AI bench, nearly doubling its ranks of AI and data specialists to 77,000 since fiscal 2023, Sweet said. The company has also trained over 550,000 employees in the fundamentals of generative AI.

"Advanced AI is becoming a part of everything we do," Sweet said, adding that the firm sees AI not as "deflationary" but "expansionary."

Accenture reported $69.7 billion in revenue for fiscal 2025, up 7% from a year earlier. Its shares fell 2.7% on Thursday.

Accenture did not respond to a request for comment from Business Insider.

Talent rotation in the AI eraAccenture's strategy underscores how companies are rotating talent for the age of AI: trimming workers whose skills don't align with new needs, while expanding in areas like data, cloud, and AI consulting.

Big Tech has been following a similar playbook, firing thousands of workers and adding thousands more in priority areas. Microsoft has cut jobs this year, but CEO Satya Nadella said in July that the company's overall head count is "relatively unchanged" thanks to new hiring.

Meta, meanwhile, laid off 5% of its staff earlier this year, targeting low performers. But the company also said it would backfill many of those roles. It undertook a summertime AI hiring spree.

Not every company has struck the right balance. Klarna, the buy-now-pay-later firm that talked up its AI plans, has reassigned staff after putting them into a "talent pool." Engineers, marketers, and other employees have been told their jobs are no longer needed and moved into customer-support roles, Business Insider reported earlier this month.

Layoff

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Microsoft has blocked an Israeli military unit from accessing some services after preliminary evidence supported a media investigation that the software was used for surveillance of millions of Palestinian civilian phone calls.

The unit used Microsoft's Azure software to store "millions" of recordings of mobile phone calls made by Palestinians living in Gaza and the Israeli-occupied West Bank, according to a joint investigation by The Guardian and other outlets published in August.

The investigation prompted an internal review by Microsoft, which found details of the Israel Ministry of Defence's (IMOD) consumption of Azure storage capacity in the Netherlands and the use of AI services supported the reporting, Microsoft president Brad Smith said.

Mr Smith said the decision to "cease and disable" certain IMOD subscriptions, including the use of specific cloud storage and AI services, would not impact Microsoft's cyber security services to Israel and other Middle Eastern countries.

A spokesperson for the IMOD told Sky News' US partner network NBC that it had no comment following Microsoft's announcement.

In August, the military told The Guardian that Microsoft "is not and has not been working with the (Israeli military) on the storage or processing of data".

Image:
Protesters marched near the Microsoft Build conference in Seattle, Washington, last year. File pic: Reuters

Microsoft has been the target of protests over its ties to Israel, including by a tech industry worker-led campaign group named No Azure for Apartheid.

The campaigners are among pro-Palestinian groups who welcomed Microsoft's decision to block the Israeli military from certain services.

Read more from Sky News:
Trump 'very, very committed' to ending Gaza war
US president thinks 'some kind of deal' close in Gaza

It is a "point of vindication for those brave tech workers who stood up and protested", said Imraan Siddiqi, executive director of the Washington state chapter of the Council on American Islamic Relations.

The Guardian's investigation was conducted with Israeli-Palestinian publication +972 Magazine and Hebrew-language outlet Local Call.

Cardano (ADA) is maintaining strength above $0.79, supported by the Cardano Foundation's ambitious new roadmap, which includes a $50 million liquidity fund designed to enhance its DeFi and Real-World Asset (RWA) ecosystem. While long-term fundamentals remain solid, short-term technical indicators show that ADA is currently oversold, suggesting cautious trading in the near term.

Journalist

Posted: September 26, 2025

Key Takeaways
Why has WLD dropped by 60% from its recent peak? 
Broader weak sentiment has dragged WLD lower on the charts. 

Is a price recovery likely? 
People have been buying the dip. Hence, a rebound could be feasible if the broader market sentiment improves. 

Worldcoin [WLD] has erased nearly 60% of its September gains amid the broader market’s bearish sentiment. This, after the altcoin rallied by 2x following a treasury firm announcement backed by Fundstrat’s Tom Lee. 

While it jumped from $1 to over $2.2, it has since dropped by 60% to $1.2 at press time. In fact, the pullback cracked key support levels and the previous higher high, effectively morphing the price action to a bearish trend.

When will WLD bottom out?

Source: WLD/USDT, TradingView 

On the price charts, the first potential support seemed to be at $1.5-$1.6 – A golden zone that could have eased the correction. However, short sellers smashed it and dragged the price below the next support at $1.4. 

The technical indicators also dipped to neutral levels, at the time of writing. Notably, the RSI briefly slipped below the equilibrium level while the OBV was on the verge of cracking below its September breakout level. 

If the indicators hold above these key levels, a reversal would be possible. 

However, if they drop further, an extended price dip towards $1 and an effective correction of all of September’s gains could be feasible. 

If so, the next lower levels to track would be $1.16, $1 and $0.84, which are key lower liquidity pools and potential price magnets. They tend to be hit during price swings or liquidity hunts. 

Source: CoinAnk

Grabbing the dip?
That being said, there was a surprisingly relative decline in exchange sell pressure. Despite the dump seen over the past few days.

Santiment data revealed that Supply on Exchanges (potential exchange selling pressure) hit record lows of -57 million WLD on the charts. 

Source: Santiment

For perspective, when WLD doubled from $1.5 to $3 in late 2024, exchange selling pressure also increased 2x – From 88 million WLD to over 160 million WLD. 

On the contrary, the recent 2x upswing was marked by a massive accumulation as users grabbed the dip. 

In other words, smart players have been buying the dip and may be expecting another rally in the mid-term. It would be hard to fade Worldcoin’s push for ‘proof of humanity’, especially as AI agents go mainstream. 

The aforementioned backdrop and the ongoing accumulation could spark a recovery if broader market sentiment improves. 

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

Solana started a fresh decline from the $232 zone. SOL price is now showing bearish signs and might even decline toward the $180 support.

SOL price started a fresh decline below $232 and $220 against the US Dollar.
The price is now trading below $200 and the 100-hourly simple moving average.
There is a key bearish trend line forming with resistance at $204 on the hourly chart of the SOL/USD pair (data source from Kraken).
The price could extend losses if it stays below $204 and $212.

Solana Price Dips Sharply
Solana price failed to stay above $232 and started a fresh decline, like Bitcoin and Ethereum. SOL traded below the $220 and $212 support levels to enter a bearish zone.

The bears even pushed the price below $200 and the 100-hourly simple moving average. A low was formed at $191 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $242 swing high to the $191 low.

Solana is now trading below $200 and the 100-hourly simple moving average. Besides, there is a key bearish trend line forming with resistance at $204 on the hourly chart of the SOL/USD pair.

If there is a recovery wave, the price could face resistance near the $200 level. The next major resistance is near the $204 level or the trend line. The main resistance could be $215 or the 50% Fib retracement level of the downward move from the $242 swing high to the $191 low.

Source: SOLUSD on TradingView.com
A successful close above the $215 resistance zone could set the pace for another steady increase. The next key resistance is $220. Any more gains might send the price toward the $232 level.

More Losses In SOL?
If SOL fails to rise above the $204 resistance, it could continue to move down. Initial support on the downside is near the $192 zone. The first major support is near the $188 level.

A break below the $188 level might send the price toward the $180 support zone. If there is a close below the $180 support, the price could decline toward the $174 support in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is gaining pace in the bearish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level.

Major Support Levels – $192 and $188.

Major Resistance Levels – $204 and $215.

This Friday, we examine Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid in greater detail.

Ethereum (ETH)
Ethereum had a tough week after losing support at $4,000. Its price also closes with a 13% loss. This correction is quite significant and comes after bulls failed to move ETH above $5,000. Since then, sellers have had the upper hand.

If buyers cannot reclaim $4,000 as support, this level will turn into a key resistance and push this cryptocurrency much lower and towards $3,345, which is the next major support on the chart.

Looking ahead, the next few days are critical for Ethereum as they will decide if the price continues down or reverses. Ideally, buyers return in force soon to stop this downtrend, but that appears unlikely at the time of this post.

Chart by TradingView
Ripple (XRP)
With most of the market in red, XRP also lost 10% of its valuation this week, and its price fell to the key support at $2.72. This level was tested before in early September and held well, but a second test could be less successful if buyers don’t show interest soon.

Should $2.72 fall, then this level will turn into a resistance, and buyers will retreat to $2.55, where the asset has a higher chance to bounce. The momentum is also bearish on the daily and higher timeframes, which makes this an uphill battle for bulls.

Looking ahead, XRP failed to make a higher high most recently. That’s a sign of weakness that could prolong this downtrend for some time.

Chart by TradingView
Cardano (ADA)
Cardano holders had a disappointing week after the price fell by 16%. That’s a significant crash for such a short period of time, which has taken the price to the $0.77 support. Should that fall, buyers will retreat to $0.64 next.

This most recent impulse up in mid-September failed to reclaim a price of $1. With a lower high confirmed, sellers took over and pushed ADA lower. Because of this, this cryptocurrency has a high chance of making lower lows in the near future.

Looking ahead, this downtrend is likely to continue and only find relief around the $0.60 area where buyers were active in the past. Moreover, the price action shows Cardano has lost its bullish momentum and would be a surprise to see it recover the recent losses.

Chart by TradingView
Binance Coin (BNB)
Binance Coin made a new record price last Sunday at $1,083. However, the celebrations were short-lived. Since that moment, the price entered a correction that made it close the week with a 5% loss.

The asset also fell back under $1,000, but has great support at $900 and $830, where buyers could return in the future. The $1,000 level could also act as resistance going forward.

Looking ahead, despite the ongoing correction, this cryptocurrency remains one of the strongest performers in the market. Any future recovery will likely see BNB perform very well, which could see it attempt new price records towards the end of 2025.

Chart by TradingView
Surprisingly, HYPE is the worst performer on our list this week after a crash of 26%! This huge loss came on the back of the recent launch of Aster, the Binance-backed decentralized exchange created to compete with Hyperliquid.

Liquidity left HYPE and moved to Aster, which had a tremendous impact on its price. Sellers visited the $40 support before buyers returned. The current resistance levels are found at $44 and $50.

Looking ahead, the battle between decentralized exchanges just got tuned to the max as liquidity and traders switch between platforms chasing quick gains. While Hyperliquid may suffer right now, this could also be a good opportunity to get exposure at discounted prices.

Chart by TradingView

Ethereum fell below $4,000 with $409.6 million in liquidations, while leveraged traders saw over $1.13 billion wiped out marketwide.Despite bearish sentiment, whales accumulated over 400,000 ETH in two days, with accumulator addresses setting historic inflow records.Analysts argue ETH’s dip could be a buying opportunity, with forecasts pointing to recovery.Ethereum (ETH) whales are capitalizing on falling prices as the second-largest cryptocurrency continues to trend downward, breaking the critical $4,000 level.

The decline has divided market sentiment. While some analysts warn of a looming bear market, others interpret the drop as a prime opportunity for long-term accumulation.

Whale Accumulation Rises Despite Ethereum’s Bearish Turn Sponsored

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According to the latest data from BeInCrypto Markets, ETH dipped 1.84% over the past 24 hours, below $4,000. At the time of writing, the altcoin was trading at $3,943.

Ethereum (ETH) Price Performance. Source: BeInCrypto Markets
Furthermore, BeInCrypto’s latest analysis indicated that the market was turning bearish on ETH, which risks sliding further. Economist and known crypto critic Peter Schiff even declared that the altcoin has entered a bear market.

“Ethereum just tanked below $4,000. Despite all the Ethereum Treasury company buying, the #2 crypto is now in an official bear market, down 20% from its August record high. Bitcoin is next,” Schiff said.

However, this is not an outlook many crypto whales share. Instead, they continue to buy the Ethereum dip.

Analytics firm Lookonchain reported that over the past two days, 15 wallets received 406,117 ETH, valued at approximately $1.6 billion, from major platforms. These included Kraken, Galaxy Digital, BitGo, and FalconX.

“You’ll get one more opportunity to load on ETH. Whales have already started accumulating, and soon institutions will do the same,” analyst Cas Abbé declared.

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This buying activity is further evidenced by the rising inflows into accumulator addresses, indicating strategic buying by large holders, or whales, during the downturn. According to analyst Darkfost, these are the wallets that have carried out at least two transactions of a minimum ETH amount while never performing a single sell. 

“We can therefore associate this type of address with long-term holder behavior,” the analyst noted.

In the latest activity, nearly 400,000 ETH were added to such wallets in a single day. Notably, on September 18, these addresses set a record by absorbing approximately 1.2 million ETH.

“This is a historic first for Ethereum. Some players are clearly not joking around, and some of these addresses could be linked to entities offering ETH ETFs, which have seen demand surge recently,” Darkfost added.

Furthermore, the behavior aligns with market optimism that ETH’s dip is a buying opportunity. In a recent post on X (formerly Twitter), Altcoin Gordon suggested that ETH is nearing a long-term buying zone, predicting appreciation by December. 

“ETH is entering my long-term buying zone. Accumulate at these levels and you’ll thank me in December,” he wrote.

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Market strategist Shay Boloor argued that while many investors are panicking over Ethereum’s dip below $4,000 and labeling it a bear market, the broader picture suggests otherwise. He pointed out that major financial figures such as Tom Lee, Stanley Druckenmiller, Peter Thiel, and more have all shown support for Ethereum, signaling confidence despite the recent pullback. 

“At the same time, the US govt needs stablecoins to support treasury demand. Most of that supply sits on ETH. Smells like opportunity under $4,000,” Boloor stated.

Leveraged Traders Hit by Ethereum’s Dip 
Meanwhile, the overall market decline has inflicted significant pain on leveraged traders. Data from Coinglass showed that over the past 24 hours, 246,601 traders were liquidated across the cryptocurrency market, totaling $1.13 billion. 

Crypto Liquidations. Source: CoinglassSponsored

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Ethereum accounted for the majority, with $409.6 million in liquidations. Over $365 million came from long positions. The largest single liquidation was a $29.12 million ETH-USD order on Hyperliquid. 

Darkfost noted that Ethereum has just experienced one of its sharpest declines in Open Interest since the start of 2024, following a wave of liquidations that cleared out overleveraged positions. 

The biggest reduction was seen on Binance, where more than $3 billion was wiped out on September 23 and another $1 billion yesterday. Meanwhile, Bybit and OKX recorded drops of $1.2 billion and $580 million. 

“Historically, such resets often follow periods of excessive leverage that push Open Interest higher, as was the case for ETH, which had been attracting a large share of market attention. Once liquidations accumulate and reduce Open Interest, selling pressure tends to ease, creating conditions for the market to stabilize and sometimes even recover,” he revealed.

Thus, while short-term volatility persists, the combination of whale accumulation and market signals suggests that the current dip may precede upward momentum. Market observers will monitor upcoming economic indicators and institutional flows for further clues on ETH’s trajectory. As of now, the cryptocurrency remains down from its all-time high but shows signs of resilience through strategic buying.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Over $21 billion in Bitcoin and Ethereum options expire, creating one of the largest stress tests of 2025’s third quarter.Bitcoin shows bullish sentiment with $16 billion options expiring, while Ethereum weakens near $4,000, raising downside risk concerns.Traders expect heightened volatility as max pain levels converge with macro uncertainty, central bank policies, and shifting liquidity conditions worldwide.The crypto market faces one of its biggest stress tests of the year today as more than $21 billion in Bitcoin and Ethereum options expire today.

With this marking the largest quarter-end expiry of Q3, traders are bracing for heightened volatility as max pain levels converge with macro uncertainty and shifting liquidity.

Over $21 Billion Options Expire Today: What Traders Should ExpectSponsored

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According to data from derivatives exchange Deribit, a combined $21.097 billion notional value in Bitcoin and Ethereum contracts is set to roll off.

“At 08:00 UTC, over $21 billion in crypto options expire on Deribit; one of the biggest quarter-end expiries…. Q3’s largest expiry meets rate cuts and shifting liquidity. Does the market break higher, or stall here?” Deribit posed.

Bitcoin options represent the lion’s share of today’s expiry, with a $16 billion notional value. The total open interest is 146,224 contracts, with a put-to-call ratio (PCR) of 0.71.

It points to a prevalence of Call (Purchase) options over Put (Sale) contracts, suggesting a bullish market sentiment despite the recent pullback.

Expiring Bitcoin Options. Source: Deribit
The max pain level, where most option holders experience the most financial loss, is $111,000, significantly above the current price of $109,526. This suggests traders may attempt to pin spot prices closer to this level as expiry passes.

Meanwhile, Ethereum accounts for $5.08 billion in notional value, with a massive 1.28 million contracts outstanding.

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Its put-to-call ratio of 0.86 suggests a more cautious outlook than Bitcoin’s, despite the prevalence of Call or purchase options.

However, the maximum pain level is $3,800, which is uncomfortably close to ETH’s current price of $3,963 after its sharp sell-off this week.

Expiring Ethereum Options. Source: Deribit
Ethereum only recently broke below the psychological $4,000 mark, its lowest drawdown since August 8. This weakness has amplified concerns that today’s expiry could exacerbate downside pressure if key support levels fail.

Analysts Warn of Downside Risks for Ethereum PriceSponsored

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Options analytics firm Greeks.live highlighted the fragile state of Ethereum after what it described as a substantial crash earlier this week.

The firm noted that the Ethereum price dropping below $4,000 saw the largest altcoin on market cap metrics breach multiple technical indicators, and warned of a notable shift in market sentiment.

“Implied volatility for major terms showed little change, but skew significantly shifted toward puts, with put premiums substantially exceeding call premiums. This indicates a sharp increase in the options market’s expectation of downside risk,” wrote Greeks. live.

The firm also highlighted that market maker positions are now entering gamma amplification territory, a zone where price swings can accelerate due to hedging flows.

Some market makers have reportedly started purchasing puts for protection, reflecting rising fears of a deeper correction.

According to analysts at Greeks.live, Ethereum failing to reclaim above $4,000 could see the options market face a bear market repricing scenario.

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Bitcoin, by contrast, appears to be trading in a more consolidated range, with traders expecting lower volatility than ETH.

It is also worth mentioning that today’s expiring options are significantly higher than the $4.3 billion that went bust last week. The difference comes as today’s expiring options are for the month.

It also comes as broader macro conditions add layers of uncertainty. With central banks signaling rate cuts and liquidity conditions in flux, options traders are attempting to hedge short-term risks while still positioning for a more constructive fourth quarter (Q4).

Despite the current caution, Greeks.live noted that many investors have already begun placing bullish bets for Q4, anticipating renewed momentum into year-end.

As options near expiry at 8:00 UTC on Deribit, traders should expect volatility, which could influence short-term market trends into the weekend. However, conditions often stabilize as traders adjust to the new trading environment.

Notwithstanding, given that it is the largest options expiry of Q3, it may well set the tone for crypto markets heading into the final stretch of 2025.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

On September 25, both spot Bitcoin ETFs and Ethereum ETFs recorded heavy outflow, SoSoValue reports. Bitcoin ETFs saw $258.46 million outflow, with only one ETF reporting inflow, while Ethereum ETFs posted $251.20 million with no inflow. 

Bitcoin ETF Breakdown Bitcoin ETFs posted a net outflow of $258.46 million, with Fidelity’s FBTC leading $114.81 million. Bitwise BITB, Ark & 21Shares ARKB, and Grayscale GBTC also saw heavy selling pressure of $80.52 million, $63.05 million, and $42.90 million, respectively. 

Grayscale BTC and VanEck HODL reported sell-offs of $15.49 million and $10.08 million. Franklin EZBC and Valkyrie BRRR recorded the smallest withdrawals of the day with $6.35 million and $4.96 million. Only one ETF, BlackRock IBIT, saw gains of $79.70 million. 

The total trading value on Thursday reached $5.42 billion, marking a huge comeback. Net assets came in at $144.35 billion, representing 6.64% of the Bitcoin market cap. 

Ethereum ETF Breakdown The US Ethereum ETFs recorded a strong outflow of $251.20 million, significantly higher than the previous day. Fidelity FETH led with $158.07 million, followed by Grayscale ETHE $30.27 million. Other ETFs like Bitwise ETHW and Grayscale ETH also experienced moderate outflows of $27.60 million and $26.14 million. 

The rest of the ETFs posted a smaller amount of selling, such as Franklin EZET $2.98 million, 21Shares TETH $2.36 million, Invesco QETH $2.34 million, and VanEck ETHV $1.44 million. 

The overall trading value in Ethereum ETFs surged to $3.31 billion, showing impressive growth from the previous day. Net assets came in at $25.59 billion, marking 5.46% of the Ethereum market. 

Market ContextBitcoin price has dropped to $109,302, signalling a 64.6% plunge compared to a week ago. Its market cap has also dipped to $2.178 trillion, while its daily trading volume rose to $70.59 billion, showing notable progress there. 

Ethereum is trading at around $3,944.68, with a market cap of $76.280 billion, showing a sharp decline. Its trading volume increased, showing renewed confidence with $58.628 billion. 

7h46 ▪
5
min read ▪ by
Luc Jose A.

Bitcoin briefly plunged below $109,000, recording a three-week low. Hours before the expiration of $22 billion in options, scheduled this Friday, pressure is rising among investors. In a context of increased volatility and macroeconomic uncertainties, positions are being urgently readjusted. The crypto market is entering a decisive sequence where each broken level could amplify the upcoming movements.

In Brief

Bitcoin fell to $108,700, its lowest level in three weeks, on the eve of a $22 billion options expiration.
BTC’s drop caused the liquidation of $275 million in long positions, increasing volatility.
On Binance, traders reduced their bullish exposure, while OKX institutional investors wrongly bet on a rebound.
Friday’s expiration could mark a technical turning point for BTC amid persistent economic uncertainty in the U.S.

Series of Liquidations and a Strategic Pullback
The bitcoin price dropped below $109,000, briefly reaching $108,700, its lowest level in over three weeks. This fall caused instability on exchange platforms, leading to the liquidation of over $275 million in leveraged long positions.

Such a situation coincides with the approach of the monthly expiration of $22 billion in BTC options. This deadline is putting particularly strong pressure on traders trying to reposition themselves urgently. Thus, they have reduced their bullish positions, signaling a mixed market sentiment before the options expire.

Data from Binance and OKX platforms clearly illustrate the ongoing tactical adjustments in the market :

On Binance, “top traders” reduced their long positions Tuesday and Wednesday, dropping the long/short ratio to 1.7x, its lowest level in over 30 days, before slightly rising again to 1.9x ;

On OKX, institutional investors took the opposite bet by massively increasing their long positions, raising the long/short ratio to 4.2x on Thursday, its highest level in two weeks ;

However, the sudden drop of BTC below $109,000 surprised them, forcing a reduction in leverage at a loss ;

The power balance between put and call options is also closely watched: if BTC does not climb back above $110,000 this Friday morning, put options would gain an estimated advantage of $1 billion over call options.

This tense atmosphere reveals a market in rapid tactical recomposition at the very short term, dominated by nervousness around this major technical deadline.

Signals of Resilience
Beyond the immediate pressure exerted by derivatives, other indicators provide a more nuanced reading of the current situation. Indeed, the two-month Bitcoin futures premium, an indicator of traders’ bullish or bearish sentiment, remains stable at 5 %, in a neutral zone between 5 % and 10 %.

This stability suggests a certain prudence from institutional investors but without widespread panic. Similarly, on-chain data also reveal that open interest on derivatives products remains robust at $79 billion, slightly declining only 3 % over two days. Some analysts expect relief from selling pressure after options expire, emphasizing the market’s recent ability to absorb shocks without structural break.

In parallel, another factor tempers the bearish reading: net inflows into Bitcoin ETFs. On Wednesday, the listed products registered $241 million in inflows, a not insignificant figure amid volatility.

This flow suggests that investors, likely institutional, are taking advantage of the decline to reposition themselves medium term. Finally, in Asia, Tether (USDT) in offshore yuan is currently trading at a 0.3% premium versus the official USD/CNY rate, indicating a neutral to slightly bullish demand for cryptos in China. Usually, a discount in this market would be interpreted as a risk flight signal, which is not the case currently.

These signals of relative stability and strategic positioning could indicate that the market anticipates a rebound after options expiration, or even a reshuffling of the cards if the $110,000 threshold is crossed in the coming hours. However, the U.S. macroeconomic context, notably the threat of a government shutdown and labor market uncertainties, fuels underlying volatility making any projection delicate. In this environment, this Friday could prove decisive: a close above $110,000 would give a clear advantage back to bulls betting on an explosive October, while a failure would prolong the technical pressure.

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Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

TLDR:

Hyperliquid price fell 25.90% in the past week while 24-hour trading volume stood near $1.23B per data
Aster and Lighter surpassed Hyperliquid in 24-hour trading volume, raising questions about market leadership
Hyperliquid still holds $13.2B in open interest, more than double the next 10 competitors combined
Bitwise filed for a Hyperliquid ETF, drawing institutional attention as traders watch price levels for a bounce

Traders are watching Hyperliquid closely. The token’s price has been sliding for days, and a new ETF filing adds to the noise. 

Rivals are catching up in volume while traders remain cautious. Social media chatter shows some see this as a setup for big moves. The market is waiting for clarity on what comes next.

Hyperliquid Price Slides as Rivals Gain Ground
Hyperliquid’s price stood at $42.45 at press time, per market data. This marked a 1.55% drop in the past 24 hours and a 25.90% slide across seven days. The 24-hour trading volume sat near $1.23 billion, according to CoinGecko.

HYPE price on CoinGecko
CryptoRank pointed out that both Aster and Lighter have now surpassed Hyperliquid’s 24-hour volume. This shift has drawn attention to whether Hyperliquid is losing its edge.

The platform, however, still shows strong futures activity with $13.2 billion in open interest, more than double the combined total of the next ten competitors.

Market analyst Husky said in a post that trading HYPE is tricky right now. He cited factors like whale offloading, token unlocks, and buybacks that skew the chart. Husky said he would be very selective with entries to avoid getting caught between market-moving players.

$HYPE

No strong opinions and hard to chart since you gotta take buybacks, whales offloading and unlocks into account

That last move down is the imbalance that screams at me though, I'd expect to see some of that filled

I will be very picky with entries for this though, I have… https://t.co/qU27koHH0J pic.twitter.com/P1NnntSMp9

— Husky (@huskyXBT) September 25, 2025

Traders now face a mix of falling spot prices and heavy open interest. This combination keeps volatility high and has many waiting for a clear direction before re-entering.

Bitwise ETF Filing Brings Fresh Focus to HYPE
James Seyffart reported that Bitwise filed for a Hyperliquid ETF this week. This marks another step in bringing crypto assets closer to traditional markets. The move puts HYPE under a brighter spotlight as institutions assess its potential for mainstream exposure.

The filing may boost liquidity for the token in the longer term. Yet, near-term traders remain focused on price recovery and how buybacks could support the market. The open interest level signals that leveraged bets are still active despite the recent slide.

NEW: @BitwiseInvest files for Hyperliquid ETF. HYPE pic.twitter.com/l3WaXRmo8Z

— James Seyffart (@JSeyff) September 25, 2025

The ETF could open a path for new inflows once approved. For now, sentiment remains mixed as traders manage risk through the ongoing volatility. The next price reaction will likely depend on whether buyers step in during the current drawdown.

Hyperliquid’s large open interest suggests that any sharp move could trigger bigger reactions in both directions. 

Avalanche (AVAX) has reached a new milestone in decentralized finance, with daily DEX volumes hitting an all-time high of $1.3 billion. This surge in activity comes despite recent market corrections, reflecting strong investor confidence and growing institutional interest in the Avalanche ecosystem.

Near $30M Ether Wipeout on Hyperliquid Stands Out as Crypto Market Sees $1B in LiquidationA $29.1 million ETH-USD long hit was indicative of the growing role of decentralized perpetual exchanges in driving liquidations.Updated Sep 26, 2025, 4:06 a.m. Published Sep 26, 2025, 2:52 a.m.

An ETH$3,977.09 trade on Hyperliquid turned out to be the biggest liquidation hit in the past 24 hours as crypto traders took on more than $1.19 billion in leveraged positions amid a market downturn.

Longs made up nearly 90% of the overall wipeout, per CoinGlass, leaving over 260,000 traders losing money and exposing the market’s bullish overcrowding.

STORY CONTINUES BELOW

Ether bore the brunt with $448 million in liquidations, followed by BTC$109,689.18 at $278 million. Solana’s SOL (SOL), XRP$2.7717, BNB Chain’s BNB (BNB) and DOGE$0.2316 all saw tens of millions flushed out.

But the single largest trade closure came on Hyperliquid — a $29.1 million ETH-USD long hit which is indicative of the growing role of decentralized perpetual exchanges in driving liquidations.

Bybit handled the most overall liquidations at $311 million, but Hyperliquid followed closely with $281 million, ahead of Binance’s $243 million.

For a relatively recent protocol that operates fully on-chain with no KYC or regulatory firewalls, Hyperliquid’s share of liquidations points to traders piling risk into perpetual decentralized exchanges (DEXs) in size. A 97% long bias further showed how aggressively users were positioned before the flush.

The wave came as sentiment remains fragile and bitcoin sees volatile price action around the $111,000 mark. Spikes in liquidations are often read as clearing events that pave the way for reversals, but with positioning stretched across majors and high-beta tokens alike, downside risks linger.

Meanwhile, some say projects with strong revenue flows could emerge attractive to traders amid an otherwise risk-off mood.

“While crypto markets are down, capital is still rotating from Bitcoin into altcoins, with perpetual decentralized exchanges (Perp DEXs) like Hyperliquid and Aster leading the charge,” said Nick Ruck, director at LVRG Research.

“We expect altcoins to slowly grind upward as investors seek projects that can decouple from macro pressures and continue to grow based on their own utility,” Ruck added.

More For You

Total Crypto Trading Volume Hits Yearly High of $9.72T

Sep 9, 2025

Combined spot and derivatives trading on centralized exchanges surged 7.58% to $9.72 trillion in August, marking the highest monthly volume of 2025

What to know:

Combined spot and derivatives trading on centralized exchanges surged 7.58% to $9.72 trillion in August, marking the highest monthly volume of 2025Gate exchange emerged as major player with 98.9% volume surge to $746 billion, overtaking Bitget to become fourth-largest platformOpen interest across centralized derivatives exchanges rose 4.92% to $187 billionView Full Report

More For You

XRP Slides 6% as Bitcoin Drop Slashes Bullish Sentiment

2 hours ago

The token has lost $19 billion in value over seven days as resistance at $2.80 hardens.

What to know:

XRP's price fell sharply from $2.92 to $2.75 due to heavy institutional selling.The market value of XRP decreased by over $18 billion in the past week, breaking below the $3.00 threshold.Traders are closely watching if XRP's support at $2.75 will hold or if it will fall towards $2.70.Read full story

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ark Invest, an American investment management firm, has recently shared a long-term forecast that envisions the Ethereum (ETH) price reaching the six-digit territory if the total crypto market capitalization surges to $25 trillion. Ark Invest also notes that Ethereum stands to be one of the biggest winners in this scenario, with XRP also set to capture significant value. 

Ethereum’s Share Of The Projected $25 Trillion Market
Lorenzo Valente, Director of Research at Ark Invest, explained in a video post on X social media that Ethereum currently accounts for approximately 13.5% of the total cryptocurrency market capitalization. He predicts that if the global crypto market cap climbs to $25 trillion within the next five years, Ethereum could command a market valuation of approximately $3.37 trillion. This translates into a price of about $28,000 per token—a level that would mark a historic moment for ETH.

The Ark Invest Director pointed to key drivers underpinning the cryptocurrency’s strength to reach such a valuation. These include the tokenization of Real-World Assets (RWA) on the Ethereum blockchain, the network’s rapid growth in DeFi, the growing presence of stablecoins, and ongoing innovations across Layer 2 solutions. 

Valente further notes that more than $120 billion in total value is already locked within Ethereum and its scaling networks, highlighting its liquidity dominance. For stablecoins, the blockchain accounts for over $100 billion of the sector’s $200 billion capitalisation, a commanding position that underscores its role as the backbone of the DeFi landscape. 

Notably, Valente emphasized ETH’s yield-bearing nature, with staking making the cryptocurrency one of the few revenue-generating digital assets. Beyond its ability to generate yield, the Ark Invest Director notes that Ethereum is also the number one collateral used on Layer 2s, a medium of exchange within NFT marketplaces, and the currency for paying network fees. 

He also believes that scaling improvements on Layer 1 and Layer 2 over the next five years could attract millions more users, reinforcing ETH’s dominance and positioning it as a unique asset unlike any other in the crypto market.  

XRP’s Growth Potential In A $25 Trillion Crypto Market
While Ethereum is positioned at the forefront of Ark Invest’s projection, XRP remains one of the most closely watched altcoins in the market. Currently valued at approximately $2.8 billion after a recent decline, the cryptocurrency has a total market capitalization of $170.6 billion. For reference, the entire crypto market also has a market cap of $3.93 trillion, as of the time of this report. 

Based on these figures, XRP’s current market share is about 4.3% of the entire industry. If this ratio is maintained during the broader market’s projected rise to a $25 trillion valuation, XRP could achieve a market cap of roughly $1.05 trillion. With its current circulating supply, this would imply a price of approximately $17 per token, representing a more than sixfold increase from current levels.

ETH trading at $4,028 on the 1D chart | Source: ETHUSDT on Tradingview.com
Featured image from Adobe Stock, chart from Tradingview.com

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts.
Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

Bitcoin think tanks, policy specialists, and social hubs unite to launch the “Satoshi Needs You!” campaign, which aims to catalyze everyday Bitcoiners to contact their elected officials to protect their right to transact peer-to-peer as well as the developers who create the technology that enables such transactions.

After the less than ideal outcomes of this summer’s Tornado Cash trial and the Samourai Wallet case, it’s more important than ever to protect peer-to-peer (P2P) transaction rights.

This is why the Bitcoin Policy Institute has joined forces with Save Our Wallets, CoinCenter, the Bitcoin Design foundation and regional Bitcoin hubs throughout the United States to launch the “Satoshi Needs You!” campaign.

The initiative aims to catalyze Bitcoin enthusiasts from coast to coast to reach out to their elected officials to request that they support the provisions from the Blockchain Regulatory Certainty Act (BRCA) that were included in the most recent version of the Senate version of the CLARITY Act.

This draft of the bill provides robust protections for developers and providers of noncustodial crypto technology as well as protections for everyday users who utilize noncustodial bitcoin and crypto tools.

Without such protections, Bitcoiners could lose their right to transact with bitcoin freely, and we could see more developers put on trial for creating noncustodial crypto technology.

“This is a moment of great danger and great opportunity for the Bitcoin network,” said Kyle Olney, co-founder of SaveOurWallets.org, in a press release shared with Bitcoin Magazine.

“We can’t take anything for granted until our fundamental rights to economic liberty in the digital realm have been codified into law. We need EVERY Bitcoiner to get involved, contact their representatives in Washington, D.C., and ensure this congress continues to execute on pro-Bitcoin policy,” he added.

“We have a responsibility to fight for our freedoms like the right to transact, and to pass those rights on for future generations.”

So, please don’t hesitate: Take action immediately by heading over to SaveOurWallets.org to learn more about the CLARITY Act and to obtain contact information for your Senators so that you get can in touch with them to tell them to support the most current Senate draft of the bill — particularly Section 109.

SaveOutWallets.org screenshot — The website makes it easy for you to find the contact information for your Senator. With your help, we can ensure that we remain free to use bitcoin the way that Satoshi intended for us to use it — as peer-to-peer electronic cash that doesn’t require third party assistance or identifying information.

It’s up to each of us to make sure that Bitcoin — a system imbued with the American values of economic freedom and financial liberty — remains open and easily accessible for all.

Ethereum price started a fresh decline below $4,050. ETH is now struggling and might decline further if it breaks the $3,850 support zone.

Ethereum failed to extend gains and declined below the $4,000 zone.
The price is trading below $4,050 and the 100-hourly Simple Moving Average.
There is a key bearish trend line forming with resistance at $4,050 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could continue to move down if it settles below $3,880 and $3,850.

Ethereum Price Dips Further
Ethereum price remained in a bearish zone after it settled below $4,250, like Bitcoin. ETH price declined below the $4,120 and $4,050 support levels.

The bears even pushed the price below $4,000. A low was formed at $3,826 and the price recently started a minor recovery wave. There was a move above the 23.6% Fib retracement level of the downward wave from the $4,275 swing high to the $3,826 low.

However, the bears remained active near the $3,950 resistance zone. Ethereum price is now trading below $4,000 and the 100-hourly Simple Moving Average. Besides, there is a key bearish trend line forming with resistance at $4,050 on the hourly chart of ETH/USD.

On the upside, the price could face resistance near the $4,000 level. The next key resistance is near the $4,050 level or the 50% Fib retracement level of the downward wave from the $4,275 swing high to the $3,826 low. The first major resistance is near the $4,120 level. A clear move above the $4,120 resistance might send the price toward the $4,150 resistance and the trend line.

Source: ETHUSD on TradingView.com
An upside break above the $4,250 region might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,320 resistance zone or even $4,350 in the near term.

More Losses In ETH?
If Ethereum fails to clear the $4,050 resistance, it could start a fresh decline. Initial support on the downside is near the $3,880 level. The first major support sits near the $3,820 zone.

A clear move below the $3,820 support might push the price toward the $3,750 support. Any more losses might send the price toward the $3,720 region in the near term. The next key support sits at $3,650.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 zone.

Major Support Level – $3,820

Major Resistance Level – $4,050

Stellar (XLM) is showing early signs of resilience after several weeks of consolidation, signaling potential opportunities for both retail and institutional investors. The cryptocurrency is currently trading around $0.36, down 0.56% on the daily charts and roughly 4.2% for the week, but analysts remain cautiously optimistic about its short- and long-term outlook.

In brief
About $17 billion in Bitcoin options are set to expire Friday, one of the largest on record.
Experts warn a break below $108,000 could trigger forced selling and a drop toward $96,000.
Softer inflation could ease pressure and open room for a rebound into year-end.
Crypto faces a critical test this week as the quarterly options expiry collides with a key U.S. inflation reading, a convergence that could determine whether the rally gains momentum or falters.

Roughly, $22.3 billion in crypto options will expire as the third quarter comes to a close on Friday, according to options exchange Deribit. Out of which, Bitcoin options with a notional value of $17.06 billion are set to expire.

Greg Magadini, director of derivatives at options analytics platform Amberdata, told Decrypt that the current Bitcoin expiration cycle is "the largest on the board."

Dealer positioning shows "a lot of short gamma at $109,000 and $108,000," he said, pointing to a situation that requires those price levels to hold to prevent a sharp move downward.

Bitcoin’s short-term moves depend heavily on options dealers and large institutions that hedge their positions in real-time. Their exposure to “gamma,” a measure of how quickly hedges must adjust, can either amplify price swings or help steady them.

A short gamma position means dealers could be forced to sell into a declining market, exacerbating a drop.

Data shows that $108,000 has become critical for Bitcoin traders. A failure to hold above this level could trigger an automated selling cascade, independent of the August Core PCE release, Decrypt was told.

Considering the dealer’s short gamma positioning and volatility around 35%, Magadini expects a drop below $108,000 to trigger a “two standard deviation move to $96,000,” especially if the markets are weak.

Bitcoin is currently trading at $109,100, having clocked a 3.8% loss on Thursday. In total, the top crypto has shed 6.50% over the past week, CoinGecko data shows.

All eyes are now on the Core PCE release, scheduled for 8:30 a.m. ET today, which remains sticky around 3%. The month-over-month forecasts sit around 0.2%, slightly lower than last month’s 0.3%.

A hotter-than-expected release could strengthen the dollar’s recent bounce and exacerbate Bitcoin’s ongoing correction, experts previously told Decrypt.  

However, a softer Core PCE could form a “pin from options expiry” that could “loosen and allow a sharp upside move,” Maja Vujinovic, CEO and Co-Founder of Digital Assets at FG Nexus, a Nasdaq-listed company focused on accumulating and generating yield on Ethereum, told Decrypt.

Despite the short-term, jumpy reaction around inflation report releases, she expects a constructive fourth quarter for crypto markets, driven by demand for spot exchange-traded funds and improving liquidity. 

Magadini echoed Vujinovic’s outlook, noting that there is downside risk in the short term, driven by uncertainty over the Fed's path and weakness in risk assets. 

“Long-term, I expect prices to be drastically higher…should Fed inflation fighting stop…I could easily see Bitcoin start to trade above $250,000.”

Options data also support Bitcoin’s long-term bullish sentiment, evidenced by heavy buying of year-end call options with $120,000 and $140,000 strikes.

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Asset manager Bitwise has filed to launch an exchange-traded fund that holds and tracks the token tied to the crypto perpetual futures protocol and blockchain Hyperliquid. 

The company is bidding to launch the Bitwise Hyperliquid ETF, according to a regulatory filing on Thursday. It would directly hold Hyperliquid (HYPE), a token that gives discounts on its decentralized exchange (DEX) and is used to pay fees on its blockchain.

The filing doesn’t yet identify the exchange on which the product would trade, the ticker under which it would trade, or the fees Bitwise will charge.

Bitwise’s filing comes as competition between perpetual futures DEXs has been heating up after Aster launched a token earlier this month that has seen its trading volume and open interest surge past Hyperliquid, which has long held the top spot for onchain futures trading.

Hyperliquid ETF to offer in-kind redemptions Bitwise’s filing said its HYPE ETF will directly hold the token and “seek to provide exposure to the value of Hyperliquid held by the Trust,” similar to the hugely popular Bitcoin (BTC) and Ether (ETH) ETFs launched last year.

The product will also offer in-kind creation and redemptions, allowing for shares in the fund to be exchanged for HYPE tokens instead of cash.

Source: James Seyffart The Securities and Exchange Commission allowed in-kind creation and redemption for crypto products in July, which it billed as “less costly and more efficient.”

Filing is the first step before launchBitwise filing was a Form S-1 to register its ETF with the SEC under the Securities Act of 1933, the so-called “33 Act,” which allows its product to directly hold the crypto token.

The ETF will also need a Form 19b-4 to kickstart the approval process with the agency, which could take up to 240 days before it’s approved.

Earlier this month, the SEC approved generic listing standards for crypto ETFs to scrap the need to assess each product and speed up approvals, allowing shorter approval timelines if the underlying asset had been traded for six months on a Commodity Futures Trading Commission-regulated exchange.

However, Bitwise noted in its filing that “there are currently no Hyperliquid futures contracts registered with the CFTC.”

Aster open interest surges, triples Hyperliquid volumeAster, a perpetual futures DEX native to the BNB Chain, has seen a recent surge in trading volume and open interest far above many of its rivals.

The exchange was a key driver of perpetual trading volumes on DEXs, hitting an all-time high of $70 billion on Thursday, with its volume over the last 24 hours surpassing $35.8 billion, more than tripling Hyperliquid’s $10 billion volume over the same period, per DefiLlama.

CoinGlass shows the open interest on the Aster (ASTER) token, outstanding contracts yet to be settled, hit $1.15 billion on Thursday, up from under $143 million just days earlier on Saturday, Sept. 20.

Meanwhile, open interest on the HYPE token is down 1.85% over the past day to $2.2 billion, with the token’s price having fallen 3.5% over that time to $42.5, per CoinGlass.

Magazine: Can Robinhood or Kraken’s tokenized stocks ever be truly decentralized?

In the past 24 hours, the global crypto market cap slipped 2.76% to $3.75 trillion as selling pressure weighed heavily across major assets. Bitcoin fell 2.75% to trade near $109,370, while Ethereum lost 2.30%, holding just below $4,000. XRP led declines among top altcoins with a sharp 4.33% drop to $2.75, followed by BNB sliding 5.56% and Solana shedding 5.14% to $196. The downturn also hit Dogecoin, down 3.71%, and Cardano, down 2.67%. 

Understanding The Market SentimentBitcoin Under PressureBitcoin has slipped below $110,000, raising questions about whether the market is entering a deeper correction. On the daily chart, the Relative Strength Index (RSI) is approaching oversold levels. Analysts said that this is part of the natural market cycle where prices swing between overbought and oversold zones.

A sharp recovery above $118,000 would confirm the start of a new bullish cycle. Until then, downside risks remain.

Bears in ControlFor several weeks, the weekly MACD has signaled bearish momentum. This shows sellers remain in control for now. September has historically been a weak month for Bitcoin. While cycles can vary, the current correction fits within a broader seasonal trend. Earlier this year, Bitcoin defied expectations by setting a record high of $124,000 in August. Normally, summer months are slow, but this cycle was different due to external shocks like the tariff crash.

Whales, Sentiment, and PatienceCorrections often lead to fear, boredom, and frustration among investors. Analysts argue that large market players use these conditions to shake out weaker hands. Despite the short-term pain, the macro thesis remains intact. Oversold conditions could pave the way for a strong rebound later this year.

SUI is attempting to hold a crucial area as support amid the recent market downturn. Some analysts suggest the altcoin’s price is retesting a make-or-break level that will determine the direction of its next big move.

SUI Hits Two-Month Low
On Thursday, SUI is retesting the local range lows after an 8% daily drop from the $3.40 area to a key support level. The recent market pullbacks have momentarily halted most bullish rallies, sending leading cryptocurrencies like Ethereum (ETH) to an eight-week low of $3,800.

Now, SUI’s rally, which was fueled by institutional interest, Digital Asset Treasuries (DATs), and positive developments for the network, has declined over 21% in the weekly timeframe.

The cryptocurrency has seen a strong three-month rally following its early Q3 breakout to its multi-month high of $4.44. The altcoin has hovered between the $3.10-$4.00 levels over the past three months, attempting to break out of this range multiple times.

Last week, SUI’s price retested this area for the third time during this period, but has since been rejected from the range highs after failing to hold the $3.80 mark as support.

Market watcher Daan Crypto Trades highlighted that the cryptocurrency has been “stuck” inside the $3.10-$4.30 range since May, briefly losing the support area during the June pullback.

According to the trader, the five-month consolidation should eventually lead to a big price move out of the range.  “As we approach the range low/support, it’s back on my radar for a potential range play,” he noted, adding that it would need a strong bounce from this area to hold the macro range.

On the contrary, Daan suggested that “If it sits there and doesn’t do anything, then that’s a red flag,” as it would risk losing the crucial multi-month support and retracing toward the June lows.

Price Retests Make-Or-Break Level
Amid the retracement, SUI is also retesting another crucial support. As multiple analysts pointed out, the cryptocurrency is trading within a textbook ascending triangle pattern on a higher timeframe.

Notably, the price has been compressing within the pattern’s upper and lower boundaries since early Q2. Throughout the multi-month consolidation, each time the altcoin has bounced from the ascending support, it has retested the flat upper trendline.

Ali Martinez highlighted that a successful breakout from the bullish formation’s resistance line around the $4 barrier would set the stage for a retest of its all-time high (ATH) level of $5.35 and an overall 75% rally toward the $7 area.

Similarly, analyst Sjuul from AltCryptoGems affirmed that “it’s really time to pay attention” to the bullish formation, as the price compression continues and a break from the pattern seems imminent.

Per the post, SUI’s price must hold the triangle’s rising lower trendline to be able to attempt to break out of the pattern again. Failing to maintain this key support, currently located around the $3.10 area, could invalidate the setup and lead to a retest of the $2.40-$2.90 zone.

As of this writing, SUI is trading at $3.15, a nearly 10% decline in the monthly timeframe.

SUI’s performance in the one-week chart. Source: SUIUSDT on TradingView
Featured Image from Unsplash.com, Chart from TradingView.com

XRP price attempted a recovery wave above the $2.850 zone but failed. The price is again moving lower and might decline again below the $2.720 zone.

XRP price is moving lower below the $2.850 support zone.
The price is now trading below $2.840 and the 100-hourly Simple Moving Average.
There was a break below a connecting bullish trend line with support at $2.850 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could continue to move down if it dips below $2.720.

XRP Price Dips Below Support
XRP price attempted a recovery wave above the $2.90 level, beating Bitcoin and Ethereum. The price was able to surpass the $2.90 and $2.92 resistance levels before the bears appeared.

A high was formed at $2.995 and the price started a fresh decline. There was a drop below the $2.90 support. Besides, there was a break below a connecting bullish trend line with support at $2.850 on the hourly chart of the XRP/USD pair.

A low was formed at $2.724 and the price is now consolidating below the 23.6% Fib retracement level of the recent decline from the $2.995 swing high to the $2.724 low.

The price is now trading below $2.850 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.788 level. The first major resistance is near the $2.850 level and the 50% Fib retracement level of the recent decline from the $2.995 swing high to the $2.724 low.

Source: XRPUSD on TradingView.com
A clear move above the $2.850 resistance might send the price toward the $2.920 resistance. Any more gains might send the price toward the $2.950 resistance. The next major hurdle for the bulls might be near $3.00.

Another Decline?
If XRP fails to clear the $2.850 resistance zone, it could continue to move down. Initial support on the downside is near the $2.720 level. The next major support is near the $2.680 level.

If there is a downside break and a close below the $2.680 level, the price might continue to decline toward $2.6150. The next major support sits near the $2.60 zone, below which the price could gain bearish momentum.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $2.720 and $2.680.

Major Resistance Levels – $2.850 and $2.920.