On the 1-hour chart, XRP stumbles like a wounded fighter: from the lofty summit of $3.018 it tumbles to a pitiful $2.717, then scrambles half-heartedly back up, finding some bread crumbs around $2.75-$2.85. Yet these buyers, valiant as they seem, cling to their hope like children clutching an empty pocket; momentum flees them faster than a drunkard at dawn.
Yet Marszalek, with the solemnity of a prince defending honor, declared these accusations naught but baseless shadows in the wind. For was it not said by that venerable chronicler ZachXBT, invoking the august voice of Bloomberg, that a breach had, in some dark corner of the year 2023, stolen away the sacred personal details of users, an act shrouded in silence by the custodians of Crypto.com? Surely, the public had been cast into darkness without so much as a flicker of light shed upon the matter.
So here’s the deal: Strategy (MSTR), ever the overachiever, decided to spice things up last week by adding 850 more Bitcoin to their ever-growing digital collection. But, wait for it… it wasn’t exactly the kind of splash that would make headlines at a Bitcoin party. A mere $99.7 million for 850 BTC. What a steal, right? I mean, it’s not like they couldn’t spare it.
Michael Saylor, that wily fox of the digital frontier, took to the X, as they call it now, to confirm the deed. With a grin and a wink, he reminded the world of his Sunday whisper, a hint that Strategy would soon pad its already bulging bitcoin sack. “We’ve done it again,” he crowed at the break of dawn, Eastern time. “850 BTC for ~$99.7 million, at a price so steep-$117,344 per bitcoin-it’d make a farmer blush. And mark this, our yield stands at 26.0% YTD 2025,” he boasted. “As of 9/21/2025, we hodl 639,835 BTC, bought for ~$47.33 billion at a price so low-$73,971 per bitcoin-it’s a steal, a heist, a marvel of modern finance,” he added, his words dripping with the satisfaction of a man who’s cornered the market on digital gold.
One might wonder, with such grandeur and promise, what cruel fate commands the stars to align so unforgivingly for these mystical coins? The market cap-oh, the very heartbeat of this pecuniary colossus-has contracted by a sorrowful 3.9%, resting now at a staggering yet somehow fragile $3.89 trillion. A number so vast it confounds the mortal mind, yet precariously balanced as if on the edge of a gambler’s fortune.
However, a number of experts caution that this view may be overly optimistic given Ethereum’s fierce competition with stablecoins and RWAs. 🤯
Crypto traders saw more than $1.5 billion in bullish wagers liquidated on Monday, triggering a sharp sell-off that hit smaller tokens hardest. 🚀💸
Ether, the second-largest token, slumped as much as 9% to $4,075 as nearly half a billion dollars of leveraged long positions were liquidated, according to data from Coinglass. It was recently 6% lower over 24 hours. Bitcoin, the largest token, declined almost 3% to $111,998 before recovering slightly. 🧠📉
Dogecoin slumped more than 10% to lead losses among major tokens, with Solana’s SOL, Cardano’s ADA, BNB Chain’s BNB and Tron’s TRX showing losses of at least 5% in the last 24 hours. 🐕💔
More than 407,000 traders were liquidated over a 24-hour period, Coinglass data show, the highest such losses in recent months. Liquidations occur when leveraged positions are forcibly closed due to a price move beyond a trader’s margin threshold. This typically results in major losses and can trigger cascade effects during volatile moves. 🧠💥
Traders use liquidation data to gauge market sentiment and positioning. Large long liquidations often signal panic bottoms, while short liquidations may precede a squeeze. 🧠📉
Spikes in liquidations also help identify overcrowded trades and potential reversals. When paired with open interest and funding rate data, liquidation metrics can offer strategic entry or exit points, especially in overleveraged markets prone to sudden flushes or rallies. 🧠🚀
The wave of liquidations comes against a macro backdrop that remains highly uncertain despite the Federal Reserve’s latest interest-rate cut. 🧠☕
“The market’s trajectory hinges critically on upcoming economic data and Fed signals,” said Nassar Achkar, chief strategy officer at CoinW. “This macro uncertainty is likely to maintain Bitcoin’s dominance, potentially capping the upside for Ethereum and the broader DeFi sector despite their superior yield opportunities.” 🧠📈
Investors are watching U.S. PMI data and jobless claims later this week, Achkar noted, while Powell’s Tuesday speech is expected to steer risk appetite. A dovish tone could ease pressure on altcoins following their sharp losses, but any signal of caution would reinforce the defensive positioning already visible in derivatives markets. 🧠📉
September 23: Old Mr. Powell is going to have a little chat at the Greater Providence Chamber of Commerce. Honestly, you’d think he’d have better things to do. He’ll be rambling on about the ‘economic outlook’ (whatever that is) and how to keep prices from zooming up like rockets while also making sure everyone has a job. It’s a tricky business, you see. A very tricky business indeed. It’s like trying to teach a cat to do algebra.
In just one hour, the market saw liquidations of $1.07 billion. Long positions, which bet on prices going up, made up $1.05 billion of the losses, while short positions added around $27 million. What’s the difference? Like, the longs are the ones who thought it would go up, and the shorts… well, they’re just there to make money when it goes down. But both lost. What’s the point? 😂
Bitcoin, ever the composed one, has also taken a little dip, but in a most dignified manner. It’s almost as if it’s saying, “You know what? I’ll just sit this one out while you all squabble.” And with that, Bitcoin’s dominance in the market has only grown. Bravo, dear Bitcoin, truly.
