As September progresses, Bitcoin (BTC) 
$98,473 continues to find buyers above $60,000. However, trading volumes have significantly decreased. A drop in volumes, commonly seen over weekends, can lead to substantial losses during negative periods, although this past weekend did not present such a surprise. What is the current situation in cryptocurrencies overall?
Current Status of Bitcoin
Altcoins are generally moving sideways. Bitcoin briefly tested $59,400 in the last 24 hours but maintains the $60,000 threshold. With the Federal Reserve’s decision expected on Wednesday, Powell’s statements will be crucial for the markets. Typically, cryptocurrencies experience negative divergence before Fed meetings, but this time appears different. Ahead of the first interest rate cut in four years, BTC is consolidating at higher levels.
The next target for BTC is $63,800, and if we begin to see daily closures above this level, a new test at $65,000 may occur soon. In late August, bulls failed at this key region, leading to a drop to $52,500. Although volumes are weak, maintaining the $57,900 level is a positive sign.
Current Status of Cryptocurrencies
In the last 24 hours, $43 million in liquidations occurred, with $27 million triggered by the closure of long positions. SUI, BIGTIME, and NEIROETH experienced the most liquidations. Total cryptocurrency volume across all exchanges has decreased to $36 billion, reflecting a 45% drop.
Investors appear to be taking a break on Sunday in preparation for increased volatility expected on Monday. In the last 24 hours, CKB Coin achieved the most gains, rising by 20%, while TIA Coin follows with a 10% increase at $4.80. Among the top 100 cryptocurrencies, MATIC and HNT Coin lead the declines with losses exceeding 5%.
