Bitcoin has failed to reach $ 112,000

on September 25, the cryptocurrency market recorded a correction, with bitcoin BTC $125,120.00 Mezo Wrapped BTC 1.06% Market capitalization $43.74 million VOL. 24 hours $2.44 billion dropping to $ 111,600 and Ethereum ETH $4,706.88 Bridged Ether (StarkGate) 3.96% Market capitalization $0.11 billion VOL. 24 hours $2.09 billion dropping to $ 3996. At the time of the news publication, the first cryptocurrency was trading at $ 111,697, showing a weekly drop of more than 4%. Ethereum is currently trying to hold on to $ 4000.

In addition to bitcoin and ethereum, other major digital assets have also fallen. The largest drop was observed among altcoins. According to CryptoRank, the vast majority of coins in the top 10 by capitalization showed negative dynamics.

The decline in quotations led to mass liquidations in the futures market. More than 127,000 trading positions were forcibly closed overnight. The total losses exceeded $ 400 million, with most of the losses coming from long positions that were counting on the market to rise.

This is not the first time that bitcoin has fallen below $ 112,000 in a week. The market tested a similar level at the beginning of the week, which indicates difficulties with consolidation in higher price zones.

Among the possible reasons for the correction, analysts cite the risk of a partial shutdown of the US government on October 1 if Congress does not approve temporary funding. At least 60 senators, including seven Democrats with the support of Republicans, are required to approve the bill. This uncertainty is also reflected in traditional markets: the S&P 500 index fell by 0.3% overnight.