September often arrives in crypto with a heavy sigh, stepping in just as summer’s light fades and quietly stirring up unease in the markets. And just like clockwork, here we are. Green candles have turned red, portfolios are shrinking faster than a meme coin’s hype, and traders are suddenly checking the Fear & Greed Index like it’s their morning coffee.
So, traders, what’s causing us unease this time? Did someone forget to pay Bitcoin’s electric bill, or is there something deeper behind this market dip? Let’s find out, keep reading Boztech blogs.
What’s going on in the Crypto world
The crypto market is doing that thing again, the rollercoaster no one really wants to ride but also can’t seem to get off. As of now, 93 out of the top 100 cryptocurrencies are in the red. Ouch.
The total market cap has dipped by 0.8%, currently sitting at $3.82 trillion, and daily trading volume is down to $107 billion, a slight slowdown compared to recent weeks. Translation: investors are nervous, and the excitement is cooling off faster than an NFT project after mint day.
Even the US-based spot BTC ETFs broke their short-lived positive streak, recording outflows of $126.64 million. Ethereum ETFs also saw a significant pullback, shedding approximately $165 million. Guess September didn’t get the bullish memo.
Currencies down? Yes!
Let’s break it down. Among the top 10 cryptos by market cap:
- Bitcoin (BTC): Down a “polite” 0.1%, hovering at $108,290. Not crashing, but definitely not thriving either. And since BTC is the king, it kinda drags the whole royal court down when it trips.
- Ethereum (ETH): Down 0.5%, now at $4,402. Still high-performing compared to others, but no longer the overachiever of the week.
- XRP: Down 2.8%, slipping to $2.74. Someone checked if Gumi’s $17M XRP investment came with a refund policy.
- Dogecoin (DOGE): Down 2.1%, sitting at $0.2117. The joke might still be funny, but the punchline isn’t profitable this week.
The only top-tier coin flashing green? Binance Coin (BNB), up 0.5%, now trading at $858. A round of applause for the overachiever, or maybe just some cautious optimism.
Oh, and if you’re wondering whether Bitcoin affects all the other coins, fun fact: it absolutely does. Think of BTC as the popular kid in school, when he skips class (aka dips in price), the rest of the crew gets detention too. Traders panic, the market stumbles, and altcoins follow suit.
Just a week ago…
Just last week, things were looking pretty okay. Bitcoin was flirting with $113,220, Ethereum hit an intraweek high of $4,653, and the market vibe was more neutral than negative.
But then September knocked, and sentiment packed up and left. The Crypto Fear & Greed Index slipped from 47 to 39, officially entering fear territory. Suddenly, resistance levels started mattering again, and support zones looked like safety nets everyone was clinging to.
Bitcoin slipped about 2.8% this past week and roughly 4.5% over the last month, and today trades approximately 12.5% below its record high. Ethereum followed a similar path, down 4.3% weekly and 10.7% off its ATH, despite being up 26% over the past month. Yes, it’s a bit of a mixed bag, if that bag was half-filled with anxiety.
What’s the best currency to invest in right now
Now, this is the million-dollar question, or perhaps the $108,000 question if you’re thinking about BTC.
Even with the shift downward, Bitcoin stayed steady when others faltered. It’s like the blue-chip stock of crypto, boring when flat, terrifying when it drops, but still the first thing big institutions like Metaplanet and Japanese gaming giants scoop up during volatility.
BTC traders right now:
Ethereum is holding up well too. Even with its recent dip, ETH has strong fundamentals and long-term upgrades like ETH 2.0 and ecosystem adoption on its side.
But if you’re feeling adventurous (read: you enjoy mild financial chaos), KuCoin (KCS) showed a healthy 3.3% rise, and POL ticked up by 1.5%. Not earth-shattering, but in a sea of red, even small greens look promising.
Still, here’s the kicker: don’t chase pumps, and don’t buy dips just because they’re dips. Strategy matters more than luck in a market that shifts this fast.
Boztech advice on how to handle this mess
Here’s your market survival checklist from Boztech, because diamond hands are great, but smart hands are better:
- Don’t panic sell: Unless you’re holding a rug pull project, panic selling is how people go broke in bull markets.
- Zoom out: Weekly charts might look terrifying, but remember where you were 3 months ago. Probably celebrating ETH’s rise.
- Keep cash ready: Fear in the market = opportunity. If you’ve got dry powder, you can grab discounts while others scream.
- Watch BTC closely: It’s the trendsetter. If Bitcoin breaks below $107,000, things might get bumpy. If it bounces toward $111,000, altcoins will probably follow.
- Stay informed, not emotional: Geopolitics, ETF flows, and regulatory chatter matter. Emotional tweets? Not so much.
Conclusion
September showed up with its usual bag of tricks, cooling the market, shaking weak hands, and throwing off the rhythm just enough to make even experienced traders doubt their charts.
Keep in mind that markets are cyclical, today’s declines often lay the groundwork for tomorrow’s rallies.
So, if you’re tired of market FUD, follow Boztech. We cut through the noise and give you real insights, without the sugarcoat. From Bitcoin breakdowns to altcoin alpha, we’re watching the market so you don’t have to stress scroll through Twitter.
Stay sharp, stay sane, and stay subscribed to Boztech blogs.
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