Crypto Market Down: BTC Under $112K, ETH Dips Amid ETF Outflows
Crypto Market Down: BTC Under $112K, ETH Dips Amid ETF Outflows
The cryptocurrency market experienced a significant downturn on September 25th, witnessing substantial price drops for major assets like Bitcoin (BTC) and Ethereum (ETH). This article aims to explore the primary factors contributing to this market correction, analyzing the intricate interplay of macroeconomic policies, institutional investment trends, and key technical market indicators that shaped this volatile period. Overnight, the total cryptocurrency market capitalization plummeted by over $162 billion, settling at approximately $3.81 trillion. This sharp decline triggered a widespread wave of liquidations exceeding $400 million across various positions. Notably, Ethereum (ETH) long positions bore the brunt, incurring a significant $29 million loss, indicative of a swift unwinding of bullish bets. Such rapid, widespread liquidations are a hallmark of a "textbook flush," a market event where overleveraged traders are compelled to close their positions, thereby intensifyin…