The crypto market is ending the week on a softer note, with many of the top-20 assets by market cap posting double-digit losses on the week as prices drift lower into Friday.<\/p>\n
Bitcoin (BTC<\/a>) extended its decline today, Sept. 26, now trading at $109,750, down about 1% on the day, while Ethereum (ETH<\/a>) is flat on the day, having slipped below $4,000 yesterday, according to data from The Defiant\u2019s price page.<\/p>\n Among the top 10 altcoins aside from ETH, only TRON (TRX<\/a>) is up today, with a modest 1% gain, pushing the price to $0.335. BNB<\/a> dropped the most among large-caps in the past 24 hours, down 4% to $951, after hitting a new all-time high of $1,079 earlier this week as activity on the chain surges<\/a>. <\/p>\n Solana (SOL<\/a>) is down 1.8% today and trading at $197, while SOL\u2019s weekly losses now stand at over 18%. Meanwhile, XRP<\/a> has dropped by 2.4% today, and now is trading at $2.76.<\/p>\n Among the top-100 crypto assets by market capitalization, Plasma\u2019s XPL<\/a>, which launched<\/a> alongside the protocol\u2019s mainnet beta yesterday, is by far the biggest gainer today, up 65% over the last 24 hours to trade above $1.20, while the next top-gainer, Mantle\u2019s MNT, is up only 3% on the day. <\/p>\n Among the top losers today, Story (IP) extended its steep sell-off, dropping another 10% on Friday after double-digit losses the day before.<\/p>\n As Glassnode analysts noted in a Thursday research report<\/a>, Bitcoin now \u201cshows signs of exhaustion\u201d following a brief rally<\/a> after the September Federal Reserve meeting, adding that the short-term holder cost basis at $111,000 was the \u201ckey level to hold or risk deeper cooling.\u201d<\/p>\n They explained that long-term holders \u201chave already realized 3.4M BTC in profits,\u201d underscoring the heavy distribution and maturity of the rally.<\/p>\n \u201cUnless demand from institutions and holders aligns again, the risk of deeper cooling remains high, highlighting a macro structure that increasingly resembles exhaustion,\u201d the analysts said.<\/p>\n That exhaustion has been compounded by liquidations and crypto exchange-traded fund (ETF) outflows as more than $869 million in leveraged positions were liquidated over the past 24 hours, according to Coinglass<\/a>, following Monday\u2019s record-breaking liquidations<\/a>. <\/p>\n ETH is leading the wipeout at nearly $280 million, followed by BTC at $223 million and XPL at $69 million \u2014 with nearly equal amounts of longs and shorts \u2014 after an influx of the just-launched asset on centralized exchanges briefly pressured its price to $0.70 yesterday.<\/p>\n Spot ETH ETFs saw<\/a> net outflows for a fourth straight day, with $251 million leaving on Sept. 25, which is the largest daily outflow since early September, according to SoSoValue. Spot Bitcoin ETFs also posted<\/a> $258 million in outflows on Thursday, reversing $241 million in net inflows from the previous day.<\/p>\n This investor repositioning comes as new personal-consumption expenditures (PCE) price index PCE data, the Fed\u2019s preferred gauge, was released<\/a> today by the U.S. Bureau of Economic Analysis. Core PCE inflation was 2.9%, in-line with expectations, while the August PCE price index rose 0.3% from last month, and marks a 2.7% increase from last August. <\/p>\nTop Gainers and Losers<\/h2>\n
Liquidations, ETFs, and Macro<\/h2>\n
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