- As Q4 approaches, Bitcoin and four major tokens remain above their June 30 price levels.
- ETF inflows support Bitcoin’s late-quarter rally as crypto liquidations remain heavy.
- Ethereum leads Q3 gains, while XRP falls as Solana and BNB enter the final Q3 stretch.
Bitcoin traded below $85,000 on September 23 as a broad crypto pullback trimmed gains in Ethereum, XRP, Solana, and BNB. Despite the decline, all five assets remained higher than their June 30 levels, with Ethereum leading the quarter and BNB posting the smallest advance.
The total crypto market capitalization stood near $2.86 trillion, down about 2.5% over 24 hours. Crypto derivatives recorded roughly $587 million in liquidations, including about $450 million in long positions.
As of September 23, Bitcoin, Ethereum, XRP, Solana, and BNB had gained about 44%, 70%, 43%, 55%, and 40%, respectively, from their June 30 levels. With Q3 ending on September 30, the figures remain provisional quarter-to-date gains.
Bitcoin ETF Inflows Support the Late-Quarter Rally
Bitcoin remained the market’s main driver, even after its latest retreat. BTC was down about 2.4% on the day but stayed roughly 44% above its June 30 price.
U.S. spot Bitcoin ETFs attracted $999 million on September 21 and $714.7 million on September 22. The two-day total of about $1.71 billion reversed the $746.3 million withdrawn from the funds on September 15 and 16.
BlackRock’s IBIT led the September 22 inflows with $350.3 million. Fidelity’s FBTC recorded $257.4 million, while Morgan Stanley’s MSBT added $99 million.
Analyst Michaël van de Poppe remained positive; he wrote, “A lot of people feel FOMO right now,” and compared the current Bitcoin move with earlier market cycles. Van de Poppe argued that Bitcoin and altcoins still had room to rise, although his post did not set a specific Q4 price target.
Ethereum Leads the Five Assets
Ethereum recorded the strongest gain from the end of Q2. ETH was still up about 70% from June 30, even after falling nearly 2.9% on September 23.
U.S. Ether ETFs reported $270 million in net inflows on September 21 and $162.2 million on September 22. The two sessions followed three straight days of withdrawals, Farside data showed.
BlackRock’s ETHA received $88.1 million on September 22. Fidelity’s FETH added $33.6 million, making the two funds the largest contributors that day.
Trader Ted Pillows warned that Ethereum faced further weakness in a September 23 X post. He pointed to the $2,500–$2,550 support zone as a possible retest area before another recovery. The zone sits roughly 5%–6% below the latest ETH price.
XRP’s Q3 Rally Stalls Below $1.50
XRP recorded the sharpest daily decline among the five major tokens. The token fell about 5.6% to $1.49, although it remained roughly 43% above its June 30 price.
Analyst Ali Martinez identified $1.60 as the key level for his bullish XRP setup. In an X post, Martinez said XRP had completed the right shoulder of a possible inverse head-and-shoulders pattern after rising from $1.25 to $1.58.
He said a decisive move above the neckline could open a path toward $2. Martinez also cited more than $2 billion in recent XRP purchases by large holders. The token’s move back below $1.50 left the proposed breakout unconfirmed.
The XRP Ledger also has a protocol catalyst in development. Its lending documentation describes fixed-term, uncollateralized loans funded through single-asset vaults. The lending amendments still require validator approval before activation.
Solana Keeps a 55% Gain Into Q4
Solana traded near $114.10 after falling about 3.3% over 24 hours. SOL remained roughly 55% above its June 30 level and was up about 16% over seven days.
U.S. Solana ETFs attracted $26 million on September 21 and $28.9 million on September 22. Bitwise’s BSOL accounted for $26.4 million of the second day’s inflows,.
As Q3 nears its close, Solana is preparing for Project Harmonia. The Solana Foundation said Project Harmonia will connect tokenized funds with Allfunds, which had about €1.9 trillion in assets under administration as of June 30. Applications close October 24, and the first funds are targeted for launch in Q4 2026 and Q1 2027.
BNB Posts the Smallest Gain After a Major Burn
BNB traded near $765.61, down about 2.6% on the day. Its market capitalization remained close to $102 billion, while its gain from June 30 stood near 40%, the smallest increase among the five assets.
The main BNB-specific event this quarter was the July 15 token burn. The BNB Foundation removed 1.615 million BNB, worth about $931.7 million at the time. The burn reduced total supply to roughly 133.17 million BNB.
Fed Policy Remains the Main Q4 Risk
The Federal Reserve raised its benchmark interest rate by 25 basis points on September 16. The target range now stands at 3.75%–4.00%, and all 12 voting members supported the move.
The Fed said inflation remained elevated. As Q4 approaches, crypto markets remain sensitive to ETF flows, liquidity conditions, and Bitcoin’s ability to hold key support levels.
Related: How Will the Upcoming BTC and ETH Options Expiry Affect the Price?
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
