Bitcoin kicked off the final week of September with high drama. After stabilizing around $116,000, it suffered a sharp drop below $112,000 – triggering cascades of liquidations and spooking leveraged traders.
This event marked the year’s largest single liquidation, wiping out over $1 billion in long positions within minutes. The volatility has left market watchers split: some foresee deeper losses possibly taking Bitcoin toward the $100,000 support, while others are watching for momentum to reclaim $120,000.
Ethereum has mirrored this unease, breaking down from a major consolidation pattern. Prices dropped toward the $4,000 psychological level, raising questions about wider altcoin vulnerability.
Both assets are experiencing a tug-of-war between bullish ETF inflows and the bearish pull of rising dollar strength. Uncertainty ahead of major macroeconomic catalysts has intensified the market’s caution.