Ethereum ( ETH ) lost over $3 billion in market cap in less than 24 hours, dropping from just north of $543 billion on September 21 to around $506.85 billion on September 0 at around $4,203 at the time of writing, the cryptocurrency is down 6.11% on the daily and nearly 7% on the weekly 1 market cap.) also dropped around 3% and trades below $113,000, altcoins took a harder hit, with XRP , for instance, wiping $11 billion in market value 2 coins saw even steeper losses, as Dogecoin ( DOGE ), Shiba Inu ( SHIB ), and Pepe ( PEPE ) all dropped over 10%, with Elon Musk’s favorite crypto now down 14% on the week despite the recent record-breaking exchange-traded fund ( ETF ) 3 market sentiment The crash is largely the result of shifting global monetary 4 recent Fed rate cuts resulted in a short rally, but a somewhat firmer 5 and renewed global market jitters created a lot of selling pressure, driving Treasury yields higher and sparking a gold rally in the process.
What’s more, investor sentiment also deteriorated sharply, with the Fear & Greed Index briefly sliding into “Fear” territory at 45, compared to 53 (“Neutral”) just last 6 turn, the score renewed the always-present concerns regarding September as a month of weakness. Now, it appears that the market is focused primarily on the Fed, inflation data, and 7 notably, Fed Chair Jerome Powell is scheduled to speak this week with nine other officials, with future cuts potentially on the 8 all are optimistic, 9 Ted Pillows, for instance, believes “the dump will continue” if equities fail to deliver. $BTC started this week with a dump 10 Bitcoin bottoms the next day, but this time it's looking weak, as I have said 11 eyes are on equities now; if they show any weakness, the dump will 12 — Ted (@TedPillows) September 22, 2025 He also compared Bitcoin with gold, claiming the precious metal is flexing while the world’s largest crypto is struggling and “looking weak.” Featured image via Shutterstock
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