Cryptocurrency market today September 20: Bitcoin and Ethereum prices plummet

On the morning of September 20, the cryptocurrency market continued to be dyed red when most major coins simultaneously decreased in price.

Cryptocurrency market falls across the board

According to data from OKX exchange, Bitcoin (BTC) fell as much as 1.25% to around $115,600. Ethereum (ETH) lost 2.7% to $4,470; XRP also retreated nearly 3% to $2.9. Solana (SOL) fell more sharply by 3.7% to $238, while Dogecoin (DOGE) plunged nearly 5%.

This development occurred just one day after Bitcoin approached the $118,000 mark in the session on September 19, right after the US Federal Reserve (Fed) announced its first interest rate cut of the year. However, profit-taking pressure quickly appeared, pulling the price back to around $115,600. Compared to a week ago, the fluctuations were almost insignificant, showing that the upward momentum is still fragile.

Coindesk likened this week's market to "riding an escalator when prices are up but falling as fast as an elevator when prices are down." In fact, the previous days of growth accumulation "evaporated" in just one session over the weekend.

Thị trường tiền số hôm nay, 20-9: Mọi nỗ lực đã bị xóa sạch- Ảnh 1. — Bitcoin is trading at $115,600 Source: OKX

Bitcoin cryptocurrency disappoints

Ethereum also suffered a similar loss of momentum, falling from a peak of $4,750 to $4,460, down about 3% on the day and 1.5% lower than last week.

Solana and Dogecoin, two names that have been attracting a lot of attention recently, also quickly cooled down. Solana lost 4.5% to $238, while Dogecoin plunged 6% to $0.26.

It is worth noting that while US stocks continue to reach new heights, Bitcoin – the leading digital currency – is “standing still”. However, from a technical perspective, many experts believe that the trend is still positive.

Analysts have shown that Bitcoin has been consistently making higher lows, repeatedly testing the resistance around $118,000. Since the beginning of September, each correction has stopped at the upward support zone, a sign that buying power is still persistent and the bullish sentiment has not disappeared.

As of this morning, Bitcoin is hovering around $115,700. If the high-bottom pattern continues, investors believe that the advantage will still belong to the buyers, with $118,000 becoming a "hot spot" that will be closely watched in the coming trading sessions.

Source: https://nld.com.vn/thi-truong-tien-so-hom-nay-20-9-moi-no-luc-da-bi-xoa-sach-196250920072631709.htm