The cryptocurrency market wrapped up another volatile week, with total market capitalization decreasing from $4.12 trillion to $3.88 trillion. Bitcoin led the downturn, dropping from around $115,700 on Sept. 20 to $109,500 by Sept. 27 at 13:00. The leading cryptocurrency experienced a 5.5% loss over the week, ranking it among the least successful assets during that timeframe. Ethereum, which traded above $4,400 at the start of the week, ended 11% lower at $3,992—its first time below $4,000 since Aug. 8.
Similar to bitcoin, ETH faced pressure from the bearish sentiment that has affected the market since Monday. Even recent reports of further ETH acquisitions by Bitmine Immersion—a move usually interpreted as a bullish indicator—failed to alleviate the ongoing selling pressure. The market’s bearish momentum proved too strong, dragging ETH to an intraday low on Sept. 25, its weakest level in weeks despite institutional interest. XRP continues to face challenges in regaining momentum after reaching an all-time high of $3.66 in July, closing the week nearly 7% lower at just under $2.79. Although certain analysts and technical indicators hint at a possible rally that might drive XRP beyond its all-time high, the latest price movements present a more conservative outlook.
The decline of XRP has enabled the stablecoin USDT to strengthen its status as the third-largest digital asset by market capitalization. BNB, which reached an ATH of $1,079 on Sept. 21, mirrored the broader market’s movement, falling 5.3% over the week to close at $968. Several altcoins experienced significant declines, with SOL down 16%, DOGE down 14%, ADA down 12.8%, and HYPE down 18.1%. Nonetheless, some altcoins defied the trend, with ASTER and MYX recording increases of 59.4% and 32.4%, respectively.
In the meantime, the week has been harsh for leveraged traders, resulting in billions lost. Around $1.7 billion in long and short positions were liquidated on Sept. 22, marking the largest single-day liquidation event of 2025. Three days later, an additional $1 billion in contracts was wiped out. According to data, over the past week, liquidations exceeded $6 billion in leveraged positions, predominantly driven by losses in long contracts.