The crypto market is still shaky on Tuesday, Sept. 23, with total market capitalization at about $4 trillion, just 0.4% higher than yesterday.<\/p>\n
Data from The Defiant\u2019s price page shows Bitcoin (BTC<\/a>) is holding just under $113,000 at $112,991, flat on the day, and now down about 2% on the week. Ethereum (ETH<\/a>) is also flat around $4,186, though ETH\u2019s weekly losses are a starker 5.8%.<\/p>\n Other large-cap crypto assets are mixed today. XRP<\/a> is up slightly to $2.88, and BNB<\/a> has gained a solid 2.5%, bouncing back from yesterday\u2019s losses and regaining $1,000. Meanwhile, Solana (SOL<\/a>) slipped another 1% to $219, and TRON (TRX<\/a>) is down 2%, showing that even though yesterday\u2019s heavy selling has slowed, confidence hasn\u2019t really come back.<\/p>\n Shawn Young, chief analyst of MEXC Research, told The Defiant that Monday\u2019s sell-off<\/a> reflects current skepticism among investors in terms of portfolio expansion \u201cuntil there is further clarity on market direction and the macro environment’s influence on it.\u201d<\/p>\n Young told The Defiant that markets are showing \u201csigns of cycle exhaustion,\u201d and broke down his technical view for BTC:<\/p>\n \u201cThe long-term technical picture now sits at a crucial inflection point as signs of cycle exhaustion and market cracks are beginning to emerge. A sustained close below $112,000 risks pulling the market back towards the $107,000 support range \u2014 a level that bulls will need to defend to prevent a deeper retracement move towards the critical $100,000 psychological support.\u201d <\/p><\/blockquote>\n<\/figure>\n Young added that most tokens are now approaching \u201coversold conditions across multiple market indicators, and this could begin a recovery rally that could push BTC to retest the $117,000 mark.\u201d<\/p>\n MEXC Research\u2019s chief analyst also pointed out that the coming days will be important for understanding market direction \u201cand deciding if this is this cycle\u2019s final leverage flush before stability returns to the market or the start of a deeper macro-driven retracement, which could lead to the continuation of a historical underperformance by digital assets in September before Uptober comes in,\u201d referring to Bitcoin\u2019s historically strong performance in October. <\/p>\n Liquidations eased today following yesterday\u2019s severe collapse, which saw the largest single-day liquidation of long positions<\/a> this year so far. Over the past 24 hours, around $351 million in leveraged bets were wiped out, much less than Monday\u2019s $1.7 billion, per data from Coinglass<\/a>. Like yesterday, Ethereum led leveraged liquidations, but with a much smaller $55 million, followed by BTC at $44 million.<\/p>\n On the exchange-traded fund (ETF) side, the money flow turned negative this week. Data from SoSoValue<\/a> shows that spot Bitcoin ETFs saw over $360 million in net outflows on Monday, while spot Ethereum ETFs saw nearly $76 million pulled out, which demonstrates a quick reversal from last week\u2019s inflows that ended the week, and shows investors are turning cautious again.<\/p>\n The Organisation for Economic Co-operation and Development said on Tuesday it now sees the world economy growing 3.2% this year, up from 2.9% in June, CNBC reported<\/a>, adding that growth is expected to slow to 2.9% in 2026 after growing 3.3% in 2024.<\/p>\n As the OECD explained, global growth \u201cwas more resilient than anticipated in the first half of 2025, especially in many emerging-market economies.\u201d<\/p>\nLiquidations, ETFs, and Macro <\/h2>\n
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Bitcoin Cycles <\/h2>\n
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