Cryptocurrency market today, September 29: Investors are about to witness a shock

(NLDO) - Analysts say Bitcoin has surpassed the $118,000 threshold with strong buying power.

On the evening of September 29, the cryptocurrency market recorded a strong recovery. According to data from OKX exchange, Bitcoin increased by more than 2.3%, to nearly 112,000 USD. Other cryptocurrencies also increased: Ethereum increased by 2.6% to 4,090 USD, XRP increased by 2.7% to 2.8 USD, BNB increased by 3% to exceed 1,000 USD, Solana increased by more than 3% to about 205 USD.

Cryptocurrency market is growing strongly

Previously, Bitcoin had retreated to nearly $109,000 but managed to bounce back, closing the week above $112,000.

As a result, September recorded an increase of about 3% and the third quarter increased by 4.4%, which is considered an average fluctuation compared to previous years, according to CoinDesk.

Analysts say the uptrend is not yet certain. If it surpasses the $118,000 threshold with strong buying power, the recovery momentum could be consolidated.

Bitcoin trading at nearly $120,000 Source: OKX

Conversely, if it falls below $107,000, the market risks seeing a wave of liquidation of billions of dollars worth of buy orders.

Entering the fourth quarter, the positive scenario is that the US monetary policy will loosen, supporting Bitcoin to move up to the $125,000–$130,000 range.

On the contrary, if the Federal Reserve (FED) continues to maintain a cautious stance, the price may continue to fluctuate around $110,000 before forming a clearer trend.

In Vietnam, recently, HD Securities Joint Stock Company (HDS) has asked for shareholders' opinions to increase capital to more than VND 5,100 billion, of which it plans to spend VND 1,470 billion to contribute capital to establish HD Crypto Asset Exchange Joint Stock Company.

Previously, many other securities companies also invested capital to establish their own legal entities to operate the floor, such as CAEX with capital contributed by VPBankS, VIXEX founded by VIX Securities and its partners, or TCEX related to the Techcombank ecosystem,...

Source: https://nld.com.vn/thi-truong-tien-so-hom-nay-29-9-nha-dau-tu-sap-chung-kien-cu-soc-196250929201955563.htm