On the morning of September 22, 2025, the bitcoin exchange rate collapsed to $111,800 at the moment, according to TradingView. Against this background, the volume of liquidations on futures contracts for an hour amounted to more than $1 billion, and almost all of these are losses on long positions.

At the time of preparation of the material, the bitcoin rate has partially recovered. The asset is trading just below $113,000. On the daily chart, the drawdown is 1.86%:

In addition to bitcoin, other assets also saw a drawdown. Ethereum, XRP, Solana, and Dogecoin, which are among the top in terms of capitalization, the depth of correction reaches more than 7%.

The sharp collapse in the market has led to traders, mostly in long positions, facing forced liquidation of positions. Under it were 407,635 addresses with total losses for 24 hours of $1.7 billion.

Bearish sentiment is still evident in the market as a whole. The Fear and Greed Index has dropped one point in the last 24 hours. It indicates that traders are inclined to sell and act cautiously.

One of the likely reasons for this drawdown in the market is the increase in volatility as the hype surrounding the Federal Reserve’s (Fed) interest rate decision falls. Experts pointed to caution among traders, particularly short-term traders.

“Investors are cautious, long-term holders are not panicking, but short-term traders are worried. Blockchain data shows that holders are not selling, so the sentiment is more akin to ‘nervous optimism’ than outright fear,” Rachel Lucas, crypto analyst at BTC Markets, said in a commentary for The Block.

Former Binance exchange CEO Changpeng Zhao also commented on the situation. He stated that any downturn is a natural part of the market cycle, which is necessary for the formation of support levels.