Crypto Markets Stall as Bitcoin Holds Near $111,000

The new trading week is off to a sobering start for Bitcoin and other cryptocurrencies: BTC is hovering around $111,000. Leading altcoins, from Ethereum to XRP to Solana, are also failing to develop any momentum. What determines the outlook?

September is usually associated with headwinds for the crypto markets, and this seems to be the case this year as well: With prices around $111,000, the leading currency Bitcoin is treading water, and its all-time high of $124,500 from mid-August is now a thing of the past. Those hoping for altcoins to boost sentiment will also be disappointed. Ethereum, XRP (Ripple), Solana, and others are avoiding crashes, but there’s still no sign of upward movement. We take a look at the details:

In the US, the latest labor market figures were disappointing, and the Federal Reserve is expected to moderately cut interest rates on September 16 or 17. This could help Bitcoin’s price curve, which is currently under nervousness.

Ethereum has also lost steam after reaching a new all-time high of $4,950 two weeks ago, with prices around $4,300 per ETH returning to a more dreary, everyday reality. Ethereum ETFs have experienced capital outflows throughout the past week, totaling $1 billion.

XRP (Ripple) continues to wait for ETFs and has fallen back to around $2.90 – its lowest level since mid-July. XRP’s record high of $3.65 from July has not been confirmed, and fundamental analysis is now being conducted again.

Solana is holding just above the psychologically important $200 mark, and a SOL company could prove to be a support. The Solana Seeker smartphone hasn’t yet made a noticeable impact.

The charts for the Trump family’s controversial World Liberty Financial (WLFI) show a striking daily loss of 15 percent – ​​the scandal surrounding Tron founder Justin Sun continues to reverberate. World Liberty Financial says it is continuing to investigate the case , but doubts about the independence and neutrality of the WLFI blockchain have been raised.

Even more interesting from a German perspective: Arkham Intelligence is certain that the authorities in Saxony were duped. They sold around 50,000 Bitcoin from the coffers of the illegal streaming portal Movie2k in July 2024 – now it turns out that a further 45,000 BTC are stored in Movie2k wallets. Is there a risk of repercussions?

Conclusion: Bitcoin is waiting for impulses, altcoins are also waiting

But there is also some positive news: El Salvador has been building up a Bitcoin reserve for four years now, even though its BTC experiment as legal tender has been deemed a failure. Bitcoin companies around the world have also been holding more than 1 million BTC in recent days, and the leading cryptocurrency is being viewed strategically and accumulated in increasing numbers.

This creates a situation in which the markets are waiting for stimulus. Then the price curves of Solana, Ethereum , XRP, and others could rise again, but at present, the risks of price declines should not be ignored.

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(Featured image by Traxer via Unsplash)

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