The crypto market saw a sharp sell-off on Sept. 22, triggering $1.7 billion in liquidations as Bitcoin fell below $113,000.
A massive sell-off has swept across the broader crypto market, with Bitcoin BTC $101 253 24h volatility: 2.9% Market cap: $2.02 T Vol. 24h: $61.10 B and altcoins crashing, leading to more than $1.7 billion in liquidations. BTC price has crashed under $113,000, with analysts predicting further drop ahead and the be ginning of a deeper correction.
The altcoin crash on Sept. 22 is even deeper as top crypto assets Ethereum ETH $3 317 24h volatility: 4.4% Market cap: $401.68 B Vol. 24h: $34.34 B , XRP XRP $2.21 24h volatility: 4.7% Market cap: $133.02 B Vol. 24h: $5.59 B , BNB Coin BNB $944.6 24h volatility: 1.9% Market cap: $130.17 B Vol. 24h: $1.99 B , Solana SOL $156.7 24h volatility: 4.0% Market cap: $86.61 B Vol. 24h: $5.68 B , and Dogecoin DOGE $0.16 24h volatility: 4.7% Market cap: $24.34 B Vol. 24h: $1.79 B correct 6-10%.
Crypto Market Crash Leads to Major Bloodbath in Bitcoin (BTC) and Altcoins
The broader crypto market has seen $1.61 billion in long liquidations amid massive sell-offs, as the market sentiment turns sour, according to CoinGlass data. Bitcoin is down 2.62% dropping to $112,799, with over $80 billion wiped out from its market cap. The daily trading volume is up 70% to $43 billion, showing that the selling pressure is strong.
Market experts believe that this is just the beginning of a broader correction for BTC and altcoins. Crypto analyst Ted Pillows has highlighted that Bitcoin faces more than $2 billion in long liquidations between the $106,000 and $108,000 range. He noted that a sweep of this level appears highly likely in the coming weeks before any major upward move.
$BTC has over $2,000,000,000 in long liquidations between the $106,000 and $108,000 level.
A sweep of this level seems highly likely in the coming weeks before any big upward move. pic.twitter.com/QZyuylTFcN
— Ted (@TedPillows) September 21, 2025
Crypto analyst Captain Faibik has warned that Bitcoin (BTC) could be preparing for another bearish wave. He noted that on the daily chart, a rising wedge has already broken down and a bearish flag pattern is now forming.
Looking ahead, he expects another bearish leg that could push BTC down toward the $100,000 level. Despite this, the prediction markets suggest a BTC rally to $125K.
$BTC Another Bearish Wave incoming Soon So Be Ready..⛔️
On the Daily TF, Rising Wedge has already broken and now a Bearish Flag pattern is forming.
I already warned back in August that buyers would get trapped & exactly that happened. Late buyers got trapped, & since then… pic.twitter.com/ZJx9b47tvD
— Captain Faibik 🐺 (@CryptoFaibik) September 22, 2025
Altcoins Party Coming to an End?
In addition to the Bitcoin price correction, altcoins have faced an even deeper crash. CoinGlass data shows that Ethereum is leading Bitcoin in 24-hour liquidations at $483 million, against Bitcoin’s $276 million.
Crypto liquidation heatmap | Source: CoinGlass
Ethereum (ETH) price has entered a deeper correction, currently trading under $4,200, down by 15% from its all-time high. Last week, ETH whales were on a dumping spree, citing what’s coming ahead for them.
Binance’s BNB Coin (BNB) touched an all-time high of $1088 during the weekend. Even BNB price is down today 4.55% in today’s crypto market sell-off, however, it continues to hold above $1,000 threshold.
Meme coin DOGE has faced the steepest fall, dropping 10.79%, and is currently trading under $0.24. With the rising demand for spot Dogecoin ETF, the meme coin has been on investors’ radar.
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