Bitcoin, Ethereum, altcoins tumble after US GDP surprise; $1.1B liquidations hit market

  • Bitcoin drops below $109K amid hawkish macro data and Fed uncertainty.
  • $1.1B in leveraged positions liquidated, led by ETH longs.
  • Crypto stocks and miners slide, with MSTR and Coinbase under pressure.

The crypto market turned defensive as traders sized up hawkish macro data and tumbling crypto stocks.

Sentiment soured after the US GDP revision, with investors recalibrating their bets on a Fed rate cut. Bitcoin and major altcoins slid, dragged by the specter of sticky interest rates and souring risk appetite.

The recent drop punctuates a volatile week, but for many, it’s more a tactical retreat than a full-on capitulation.

With liquidations mounting and market leaders under pressure, eyes now turn to next week’s economic releases to see if crypto can recapture its footing.

Crypto market liquidations hit $1.1B

Bitcoin, the market’s heavyweight, has slipped below $111,000 and is trading just above $108,000 at press time, its weakest print in September.

Volume surged as sell orders hit exchanges, with the market cap now sitting at $2.17 trillion and daily turnover topping $75.54 billion.

Ethereum fared worse, shedding 8% in a day as the ETH/BTC ratio gave back all its summer gains.

Solana, previously a darling amid corporate adoption chatter, dropped another 6% in the past 24 hours, and is now nearly 20% down on the week.

DOGE limped lower with the pack, unable to shake off risk-off sentiment. XRP, meanwhile, mirrored the sector’s slide, as hopes for a rate-induced bounce faded.

This synchronized selloff triggered over $1.1 billion in liquidations on leveraged positions, with ETH longs accounting for nearly $400 million in forced closes, according to CoinGlass data.

Despite the selloff, trading volumes remain robust, as speculators and long-term holders alike reposition for the coming months.

GDP revision roils crypto stocks; Fed rate cut bets slip

Thursday’s surprise GDP revision jolted macro-sensitive assets, and the crypto sector was front and center.

The US economy grew 3.8% in Q2, well above expectations, sending Treasury yields to a three-week high and cooling bets on imminent rate cuts.

Bitcoin was hit hardest, breaching $109,000 and touching its lowest in nearly a month.

Ethereum’s losses deepened as investors bailed on high-beta alts. Crypto-tied stocks like MicroStrategy (MSTR), the largest corporate BTC holder, slid 4.5%, while Coinbase (COIN) tumbled 4.1%.

Miners took an even bigger hit: Cipher Mining (CIFR) plunged 9.4% despite positive news, while HIVE, Bitdeer, and Bitfarms dropped by 6-8% each.

Stablecoin issuer Circle (CRCL) and Galaxy Digital (GLXY) extended industry-wide declines. August trading volumes soared, spot and derivatives hit an annual high of $9.72 trillion, with Gate exchange leaping ahead in market share.

But liquidations kept mounting as leveraged longs were wiped out in the latest downturn, and crypto equities are now sitting at multi-month lows.

All eyes are on Friday’s data releases and next week’s Fed commentary to see if battered risk assets find relief, or prepare for another round of turbulence.

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Crypto market loses $160B in ‘Red September’, yet millionaires soar 40% in 2025

  • ‘Red September’ shakes crypto markets, wiping out over $160 billion in value.
  • Bitcoin, Ethereum, and Solana test critical support levels amid high volatility.
  • Number of crypto millionaires rises 40% in 2025, now at 241,700 globally.

The cryptocurrency market underwent notable turbulence over the past 24 hours, with traders waking up to shifting sentiment and volatile price action on Thursday.

Recent days saw the so-called “Red September” event, which erased over $160 billion from the global crypto market cap amid ongoing macroeconomic pressures, ETF outflows, and liquidations.

Yet, beneath the broad declines, pockets of resilience and buying emerged in selective coins.

With central banks sending mixed signals and regulatory debates intensifying, investors are recalibrating positions, all while institutional flows remain significant.

As Q4 approaches, analysts anticipate a more stable narrative may soon take hold, but volatility remains the dominant theme for now.

Crypto majors test key support levels

Bitcoin (BTC) is oscillating near crucial support levels, recently trading just above $113,000 after rebounding 0.82% in the last 24 hours.

Analysts warn that fading institutional demand could push BTC toward the $108,000 zone if sentiment sours.

Ethereum (ETH) also saw weakness, falling below $4,130, down 1.4% with market-watchers eyeing $3,800 as a possible accumulation point if the decline deepens.

Solana (SOL), despite heavy treasury accumulation, stalled just beneath its 2021 peak, trading near $210 and dipping 1.66% in the last session, testing long-held support.

XRP, conversely, exhibited strength with a 2.93% pop and growing bullish momentum; some chartists see a breakout above $3.33 as pivotal for double-digit ambitions.

Dogecoin (DOGE) held steady, barely advancing 0.2% amid ongoing meme-coin sector liquidations.

Overall, major cryptos remain sensitive to both headline risk and technical factors, with their trajectories hinging on ETF flows, macro signals, and speculative rotation.

Crypto millionaires surge in 2025

The latest Crypto Wealth Report for 2025 highlights just how sharply fortunes have shifted in digital assets, as the number of crypto millionaires worldwide soared 40% year-on-year to reach 241,700.

Leading this surge is Bitcoin, the cornerstone of the crypto economy, with a remarkable 70% jump in those holding seven-figure BTC portfolios, now numbering over 145,000.

At the very top, there are 36 crypto billionaires and 450 “centi-millionaires” who each hold at least $100 million in digital assets.

This wealth explosion comes as the broader market cap of cryptocurrencies hit $3.3 trillion, up 45% from last year, reflecting not just price appreciation but growing adoption globally.

More than ever, Bitcoin is seen less as a speculative bet and more as financial infrastructure: a collateral base for new financial systems operating outside traditional controls.

Notably, the report underscores how crypto’s borderless nature is redrawing global wealth patterns, with Singapore, Hong Kong, and the US emerging as leading destinations for crypto investors.

In this new landscape, holding millions simply means memorizing a 12-word seed phrase, with instant access from anywhere in the world—highlighting a profound shift in how, and where, wealth is stored and moved.

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Crypto market news: BTC near $112K, ETH drops below $4,200 as fear grips traders

  • Bitcoin hovers above $112K, with bulls defending key support.
  • Ethereum drops 7% weekly as ETF outflows pressure sentiment.
  • Institutions stay invested, betting on a stronger Q4 recovery.

Crypto markets are still reeling from a fierce “Red September” selloff that has sent jitters through traders and investors alike.

There is a strong undercurrent of caution right now with investors watching the macro headlines, especially the Fed’s latest moves, and feeling heat from a resurgent US dollar and mounting regulatory uncertainties.

The fear factor is high among retail traders, especially with meme coins back in panic territory, but interestingly, big institutions haven’t cleared out.

That says a lot about the market’s long-term resilience.

For all the volatility, veteran investors seem to believe this selloff could be paving the way for a healthier Q4, especially if some regulatory clarity and macro relief finally show up.

Major crypto movers

Bitcoin’s been tossed around all week, trying to hold firm just above the $112,000 mark.

Despite all the drama, BTC’s daily change has been pretty muted, but it’s still down roughly 2% over the past seven days.

The tension is palpable; there’s talk that a slip below $112,000 could trigger another rapid drop, but so far, bulls are digging in their heels.

Ethereum is also fighting for higher ground, currently near $4,200.

Its weekly loss is steeper than Bitcoin’s, about 7% and analysts see ETF outflows and seasonal September trading patterns in play.

For Solana, it’s a similar story, with sellers driving the price toward $216, the coin shedding more than 2% in the latest session, and short-term holders running for cover.

XRP has been a mild outlier, eking out some gains where most heavyweights reversed. It bounced up to around $2.86 and stayed resilient after threatening a breakdown below key support.

DOGE, however, lost some of its shine, dropping just over 1% today as meme coin enthusiasm fizzled after the big liquidations.

Even with all the noise, the big coins aren’t in catastrophic territory, but the road to recovery is littered with caution tape.

Market update: News and broader trends

This latest bout of selling is being blamed on a handful of big-picture trends.

First and foremost, traders point to the Fed’s mixed messaging, a rate cut that should excite risk assets paradoxically made the US dollar even stronger, making it tougher for speculative bets on crypto to thrive.

Huge liquidations have unfolded, with more than $1.65 billion in leveraged longs forced out of the market.

Meme coins bore the brunt of the panic, but strong institutional flows suggest bigger players are sticking to their long game.

Regulatory uncertainty is a running theme, debates in the US and Europe over tougher anti-money laundering rules and crypto tax policies have stoked investor anxiety.

There are also worries over trade tensions and new tariffs added to US imports from India, Taiwan, and Canada, further muddying the waters and keeping risk appetite subdued.

Yet there’s a strange sense of optimism simmering.

Many believe the panic has set the stage for a more sustainable rally later in the year, especially if macro and regulatory conditions stabilize.

Institutional adoption, fresh network upgrades, and the possibility of new Bitcoin-related policies, perhaps even news from President Trump’s upcoming speech, are keeping hope alive that the tide could turn before year-end.

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Crypto market calm after Monday’s crash: what’s going on?

  • Ether fell as much as 9% in a single session on Monday, wiping out $500 million in bets.
  • Bitcoin traded 0.8% lower, with nervous positioning seen in options.
  • $23 billion in Bitcoin and Ether contracts are due to expire on Friday.

A sharp crash on Monday wiped more than $1.5 billion from leveraged cryptocurrency positions, underscoring how fragile digital asset markets remain.

The sudden liquidation wave, one of the largest this year, unfolded without a clear catalyst and hit Ether especially hard.

By Tuesday morning in Asia, the dust had begun to settle, but prices remained under pressure and traders were braced for more turbulence as a record options expiry approached.

Monday’s crash triggers heavy liquidations

On Monday, Ether led the declines with losses of up to 9%, sparking the unwinding of nearly $500 million in bullish bets.

Bitcoin also retreated, falling sharply before stabilising with a smaller 0.8% decline.

In total, more than $1.5 billion in leveraged positions were forced out across exchanges, making it one of the year’s biggest liquidation events after months of speculative rallies.

Analysts said the drop showed how quickly leverage combined with thin liquidity can turn into widespread selling.

Tuesday’s session shows nervous stability

By Tuesday morning in Asia, the market was calmer, though sentiment remained cautious.

Ether trimmed its losses to around 0.9%, while Bitcoin also traded 0.8% lower.

Options activity pointed to traders positioning for further swings rather than stability, with significant bets placed on Bitcoin falling below $95,000 or rising above $140,000 before the month-end.

The appetite for protection in both directions highlighted just how unsettled sentiment has become.

Expiring contracts add to pressure

Deribit data showed that roughly $23 billion of Bitcoin and Ether options contracts are due to expire on Friday, one of the largest expiries ever recorded.

This event has amplified caution across the market, with traders expecting volatility to dominate in the near term.

Short-term options have grown in popularity as investors look for cheaper exposure to sudden price moves, turning volatility itself into the trade.

Meanwhile, crypto treasury firms that earlier drove demand by raising funds to buy tokens have slowed their purchases.

With share prices falling, these companies have less capacity to raise capital, reducing support for prices and adding to downward pressure.

Leverage and liquidity risks remain

Data from Binance shows open interest in perpetual futures has surged over the past few months, with Ether seeing the strongest speculative activity.

The structure has left the token more exposed to sharp reversals, acting as a higher-beta proxy for digital asset sentiment in periods of stress.

Bitcoin, by contrast, has shown relatively steadier trading thanks to deeper liquidity and its growing role in institutional portfolios.

Even so, analysts caution that the higher levels of leverage in the system compared to last year mean the risk of large swings remains.

With the Federal Reserve cutting interest rates, some expect new inflows to offset selling pressure, but links between Bitcoin and equities suggest macro policy will continue to shape its path.

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Metaplanet adds another 5,419 BTC, achieves 395.1% YTD Bitcoin yield in 2025

  • Metaplanet buys 5,419 BTC, lifting reserves to 25,555 BTC worth $2.7B.
  • The company has funded the BTC purchases through $1B+ share sales and equity offerings.
  • Metaplanet targets 210,000 BTC by 2027, cementing role as Asia’s largest holder.

Metaplanet has once again expanded its Bitcoin (BTC) holdings, purchasing 5,419 BTC in a move worth more than $627 million.

The acquisition, disclosed on September 22, lifts the Tokyo-listed company’s reserves to 25,555 BTC, valued at over $2.7 billion.

With this purchase, the firm has re-entered the top five corporate Bitcoin holders, surpassing rivals such as Tesla and Coinbase, and has firmly established itself as Asia’s largest public holder of the digital asset.

Metaplanet’s largest purchase to date

Notably, the latest acquisition is the biggest single purchase in Metaplanet’s history. The company paid an average of roughly $115,900 per BTC, spending nearly 94 billion yen in total.

The acquisition has increased its cumulative Bitcoin investments to 398.21 billion yen, or about $2.67 billion, with an average purchase price of just over $104,000 per BTC.

The Chief Executive, Simon Gerovich, noted that the company’s Bitcoin Yield has surged to 395.1% year-to-date in 2025.

The rapid pace of accumulation underscores just how aggressive Metaplanet has become in executing what it describes as its “Bitcoin-first” strategy.

In mid-April this year, the firm held just 4,525 BTC. By June, it had already reached 10,000 BTC, months ahead of schedule. From 13,350 BTC at the end of June, Metaplanet has nearly doubled its reserves in less than three months.

From hospitality to a Bitcoin powerhouse

Metaplanet’s transformation has been dramatic. Once engaged in hospitality and media, the company has reinvented itself as a corporate Bitcoin treasury under Gerovich’s leadership.

The company now positions itself as a regional counterpart to Michael Saylor’s Strategy, whose 638,985 BTC holdings dominate the corporate Bitcoin landscape.

The strategy is ambitious. Metaplanet’s immediate target is 10,000 BTC by the end of 2025. By 2026, it aims to hold 100,000 BTC, before scaling to 210,000 BTC by 2027 — roughly 1% of Bitcoin’s fixed supply.

To fund these moves, the firm has leaned heavily on capital markets. Earlier this month, it completed an international share sale that raised more than $1 billion, while in September alone, it issued 385 million new shares to raise $1.4 billion.

Most of the proceeds are earmarked for Bitcoin purchases, linking investor funds directly to its treasury expansion.

Market impact

Despite the bold progress, Metaplanet’s share price dropped 1.64% on the day of the announcement, extending a 28% decline over the past month.

Even so, the stock remains up more than 66% year-to-date, reflecting ongoing investor interest in its role as a proxy for Bitcoin exposure.

The firm’s upgrade to mid-cap status by FTSE Russell this September has also strengthened its visibility, bringing passive inflows from global index funds.

The broader market reaction was muted, with Bitcoin (BTC) itself slipping below $115,000 around the same time, dragged lower by technical resistance, whale activity, and regulatory headlines.

Nevertheless, Metaplanet’s willingness to buy during periods of weakness underscores its conviction that Bitcoin is a long-term store of value rather than a short-term trade.

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