Crypto Market Pulls Back as Q4 Approaches

The crypto market is entering its final quarter of the year after experiencing a broad pullback on September 23. Bitcoin slipped below $85,000 as Ethereum, XRP, Solana, and BNB trimmed their gains.

Despite this decline, all five assets remained above their June 30 levels, with Ethereum leading the way at +70% and Solana close behind at +55%. Bitcoin gained around 44%, while XRP and BNB posted increases of 43% and an unspecified amount, respectively.

The total crypto market capitalization stood near $2.86 trillion, down about 2.5% over the past 24 hours. A significant portion of this decline came from liquidated derivatives, including around $450 million in long positions.