Following a turbulent day on September 22, 2025, cryptocurrency markets have started to stabilize after $1.7 billion in futures liquidations, according to analysts at QCP Capital. Despite the significant sell-off, Bitcoin is trading above $113,000 and Ethereum around $4,200, signaling a recovery in major digital assets.
Altcoins Take a Hit, Bitcoin Dominates
Traders who recently speculated on an altseason, investing in tokens like ASTER, HYPE, and PUMP, were forced to reassess their positions. The Altseason Index dropped sharply from approximately 100 to 65 points, while Bitcoin’s market dominance rose above 58%. Ethereum’s share fell to around 12%, suggesting a temporary shift of capital back into major cryptocurrencies.
Institutional Support Remains Strong
QCP Capital noted that institutional investors continue to accumulate Bitcoin. Companies such as Strategy and Metaplanet are steadily buying, and inflows into spot ETFs over the past week indicate ongoing demand for buying opportunities during market corrections.
Since the start of September, Bitcoin has maintained a 4% gain, defying historical trends for this typically weak month. Traders are now eyeing options contracts targeting $120,000–$125,000, anticipating strong momentum in October.
Analysts Weigh In
“Bitcoin traded between $110,000 and $120,000 this quarter, with low volatility, while altcoins were the main focus,” QCP Capital analysts commented. “After yesterday’s shakeout, attention is likely to return to Bitcoin as October approaches.”
Experts suggest that moderate inflation could lead to further interest rate cuts, boosting liquidity in Q4 and potentially sparking a new growth wave for Bitcoin.
Caroline Mauron of Orbit Markets, speaking to Bloomberg, noted that while the market has calmed slightly after the pullback, sentiment remains cautious. A drop below $110,000 for Bitcoin or $4,000 for Ethereum could trigger another selling wave.
Griffin Sears of FalconX added that the recent decline primarily reduced leverage in the market, but high margin exposure still leaves room for significant price swings. Bitcoin’s trajectory, he said, will increasingly correlate with equity markets and macroeconomic trends.
Preparing for Volatility
Bloomberg reports that options traders are bracing for turbulence, placing sizable bets both for Bitcoin to dip to $95,000 and surge above $140,000, reflecting ongoing uncertainty in the market.
CryptoQuant analysts note that the altcoin rotation cycle is gradually concluding, reinforcing Bitcoin’s position as the dominant cryptocurrency during this recovery phase.
