The cryptocurrency market has been mixed over the past 24 hours, with Bitcoin (BTC) and Ethereum (ETH) trading in positive territory, while other altcoins, such as Ripple (XRP) , Solana (SOL), and Dogecoin (DOGE) , are trading in the red. The overall market cap is up 0.55% at $3.89 trillion. BTC continued its recovery, crossing the $114,000 mark early during the session and reaching an intraday high of $114,794. However, it lost momentum after reaching this level and fell below $114,000 to its current level. The flagship cryptocurrency is up over 1% during the ongoing session, trading around $113,322. Meanwhile, ETH is up 0.60%, trading around $4,156 after reaching an intraday high of $4,231. XRP is down almost 1%, while SOL is down 1%, trading around $206. DOGE is also trading in the red, while Cardano (ADA) is down over 1%, trading around $0.790. Chainlink (LINK) , Stellar (XLM) , Hedera (HBAR) , Litecoin (LTC) , Toncoin (TON) , and Polkadot (DOT) have also registered notable declines. Kazakhstan Launches National Crypto Reserve Kazakhstan has launched the Alem Crypto Fund as its first national crypto reserve, choosing BNB as its first digital asset. The reserve has been launched in partnership with Binance Kazakhstan. The fund was established by the country’s Ministry of Artificial Intelligence and Digital Development, and is managed by the Qazaqstan Venture Group. Deputy Prime Minister Zhaslan Madiyev said the fund aims to become a “reliable instrument for investors and a key foundation for digital state reserves.” The initiative builds on President Kassym-Jomart Tokayev’s recent directive to create a state-backed crypto reserve fund through the national bank’s Investment Corporation. Qatar National Bank Taps JPMorgan’s Blockchain Qatar National Bank Group (QNB), one of the largest banks in the Middle East, has adopted JPMorgan’s blockchain platform, Kinexys, to process corporate payments. The move is a departure from traditional banking infrastructure, where cross-border payments are limited to weekdays and can take days to complete. Kamel Moris, executive vice president of transactional banking at QNB, called the move a “treasurer’s dream,” highlighting the 24/7 availability of the blockchain. According to the bank’s announcement, Kinexys processes around $3 billion in daily transactions, a fraction compared to the $10 trillion in daily payments handled by JPMorgan. The blockchain platform uses a permissioned blockchain system that lets clients move funds held on deposit within JPMorgan in real-time. Kinexys has already collaborated with Chainlink and Ondo Finance to complete cross-chain delivery versus payment (DvP) settlement between a public testnet and a permissioned payment network. Sixteen Crypto ETFs Await SEC Decision The cryptocurrency industry could see a glut of new crypto ETFs in October, with the United States Securities and Exchange Commission (SEC) to make a final decision on sixteen ETFs. The ETFs are associated with several altcoins, including Solana (SOL), Ripple (XRP), Litecoin (LTC), and Dogecoin (DOGE). Canary’s Litecoin ETF is the first up for approval, with a deadline of October 2. The decision on Grayscale’s Solana and Litecoin trust conversion is scheduled for October 10, while a decision on WisdomTree’s XRP fund is due on October 24. ETF analyst Nate Geraci stated in a post on X that the next few weeks are crucial for spot crypto ETFs because of the number of filings approaching deadlines. “Enormous*next few weeks for spot crypto ETFs… SEC final deadlines are approaching for numerous filings. Starts this week with/ deadline on the Canary spot LTC ETF. Will be followed by decisions on sol, doge, xrp, ada, & hbar ETFs (though SEC can approve any or all of these whenever).” Crypto trader Daan Crypto acknowledged October as ‘ETF month,’ but highlighted the fact that two major players, BlackRock and Fidelity, are missing from the action. “None of the ones with the deadline in October were issued by Fidelity or BlackRock, which are the two major players in the Crypto ETF space. Regardless, there might be something to watch out for in the weeks ahead.” Poland’s Crypto Bill Sparks Backlash Polish lawmakers have approved a bill to regulate the crypto asset market. The bill introduces strict restrictions and establishes a dedicated supervisory authority. The country’s lower house voted in favor of the bill on Friday and sent it to the Senate for consideration. Bill 1424, which is yet to reflect the third-reading vote in the Sejm, introduced a licensing regime for crypto asset service providers (CASPs), aligning the country’s regulations with the EU’s Markets in Crypto-Assets Regulation (MiCA) framework. However, the bill has sparked a fierce backlash from the crypto community over its restrictive provisions. These include criminal liability for violations, fines up to 10 million Polish zlotys ($2.8 million), and prison terms. Bitcoin (BTC) Price Analysis Bitcoin (BTC) has stepped back during the ongoing session after failing to cross $115,000 on Monday. The flagship cryptocurrency put last week’s bearish sentiment behind it, rallying over 2% on Sunday to reclaim $112,000 and settle at $112,197. Buyers retained control on Monday as the price rose almost 2% to cross $114,000 and settle at $114,365. However, buyers stepped back after BTC failed to overcome $115,000. As a result, BTC lost momentum and is down over 1% during the ongoing session. If the current trajectory continues, BTC could end September in the red, trading inside a tight price band, and showing signs of weakening momentum. According to CryptoQuant data, demand waned after BTC failed to claim $115,000. Investor mood has turned cautious as September draws to a close. Analyst Axel Adler highlighted that BTC swung between $115,550 and $108,400 over the past week, settling into an even tighter range as the week drew to a close. Selling activity increased at lower highs, keeping prices low. Adler stated that the descending highs are a warning sign that buyers are losing ground. The price faces immediate resistance around $113,000. A move past this level could see a retest of $115,000. However, investor sentiment and market momentum have turned cautious, with CryptoQuant’s 30-day momentum index dropping -2% after starting at +1%, a decline of 3 percentage points. Adler believes a clear recovery would need a push towards $115,000 and several days of positive momentum. According to the analyst, BTC’s current pattern is a classic consolidation after a failed breakout. However, spot Bitcoin ETFs registered substantial inflows on September 29, indicating that institutional demand persists. According to SoSoValue, spot Bitcoin ETFs in the US registered over $520 million in inflows on Monday after two consecutive days of outflows. Fidelity’s FBTC led the charge with $298 million in inflows, followed by ARK 21Shares’ ARKB with $62 million. Bitwise’s BITB registered $47 million, while VanEck’s HODL registered $35.3 million. Invesco’s BTCO registered inflows of around $30.6 million. BTC ended the previous weekend in the red, dropping 0.41% to $115,282 on Sunday. Selling pressure intensified on Monday as the price fell by over 2% to $112,736. Sellers retained control on Tuesday with BTC falling 0.64% to a low of $111,502 before settling at $112,017. Despite the overwhelming selling pressure, BTC recovered on Wednesday, rising over 1% to reclaim $113,000 and settling at $113,348. Source: TradingView Bearish sentiment returned on Thursday as BTC plunged nearly 4%, slipping below $110,000 and settling at $109,035. The price recovered on Friday, rising 0.61% but was back in the red on Saturday, registering a marginal decline and settling at $109,681. Bullish sentiment intensified on Sunday as BTC rallied, rising over 2% to cross $112,000 and settle at $112,197. Buyers retained control on Monday as the price rose almost 2% to cross $114,000 and settle at $114,365. BTC is down 1.32% during the ongoing session after failing to cross $115,000, trading around $112,854. Ethereum (ETH) Price Analysis Ethereum (ETH) has lost momentum during the ongoing session after failing to claim $4,300. The altcoin registered a marginal drop on Saturday before rising over 3% on Sunday to end the weekend at $4,144. Buyers retained control on Monday as the price rose almost 2% to cross $4,200 and settle at $4,218. ETH is down over 1% during the ongoing session, trading around $4,163. ETH’s current price action is centered around a multimonth symmetrical triangle. A break outside the boundaries of this structure dictates the price’s next move. Last week, ETH fell below the lower boundary, suggesting downside. Sustained bearish momentum could drag the price below $4,000. However, the breakdown is not decisive. The altcoin has defended key levels, indicating that buyers are unwilling to cede ground. A decisive rebound could invalidate the bearish setup and push the price towards $4,500. ETH’s weekend rally came amid rising political drama in Washington, with the odds of a government shutdown looming. Odds of a shutdown surged over 60% on prediction markets, with lawmakers deadlocked over spending. A shutdown could risk closing federal agencies and delaying crucial economic data reports, including nonfarm payrolls and inflation reports. This, in turn, could hinder the Federal Reserve’s policy outlook. ETH ended the previous weekend down almost 1% at $4,479. Selling pressure intensified on Monday as the price fell nearly 6% to $4,202, but not before dropping to an intraday low of $4,079. Sellers retained control on Tuesday as ETH fell almost 1% to $4,166. The price registered a marginal drop on Wednesday before plunging nearly 7% on Thursday as bearish sentiment intensified. As a result, ETH fell below the crucial $4,000 mark and settled at $3,876. Source: TradingView Despite the overwhelming selling pressure, ETH recovered on Friday, rising over 4% to reclaim $4,000 and settle at $4,014. The price registered a marginal drop on Saturday but regained momentum on Sunday, rising over 3% to settle at $4,144. Buyers retained control on Monday despite selling pressure as ETH rose almost 2% to cross $4,200 and settle at $4,218. However, selling pressure has returned during the ongoing session, with the price down over 1% at $4,168. Solana (SOL) Price Analysis Solana’s (SOL) recovery stalled on Monday after the altcoin failed to move past $214. SOL faced substantial selling pressure last week and fell to a low of $191 on Thursday. It recovered on Friday to reclaim $200 before dropping almost 1% on Saturday and settling at $203. Bullish sentiment returned on Sunday as the price rallied, rising 3.58% to $210. SOL rose nearly 1% on Monday before falling during the ongoing session. SOL’s recovery depends on several factors, and traders are weighing the chances of a move towards $250. Investor sentiment improved over the weekend after President Trump said he would like to avoid a government shutdown of non-essential federal agencies. However, Congress is yet to secure the 60 votes needed to pass a temporary funding bill by Tuesday, and risks uncertain economic conditions. SOL’s recovery after last week’s decline was largely due to retail traders who bought the dip. Data from Binance shows retail traders buying the decline in large numbers. A similar trend was witnessed among institutional investor-sized spot CVD (10,000-10 million) on Coinbase. SOL traded in bearish territory on Sunday (September 21), dropping 1.36%. Selling pressure intensified on Monday as the price fell nearly 7% to $220, but not before dropping to a low of $213. Sellers retained control on Tuesday as SOL fell over 3% and settled at $213. The price fell to an intraday low of $204 on Wednesday. However, it recovered from this level to settle at $211, ultimately falling 0.77%. Source: TradingView Bearish sentiment intensified on Thursday as SOL fell almost 9%, slipping below $200 and settling at $192. Despite the overwhelming selling pressure, the price recovered on Friday, rising over 6% to reclaim $200 and settle at $205. Price action was mixed over the weekend, with SOL falling 0.83% on Saturday to $203. However, it was back in positive territory on Sunday, rising nearly 4% and settling at $210. Buyers retained control on Monday as the price rose almost 1% to $212. The current session sees SOL down over 3%, trading around $205. Aptos (APT) Price Analysis Aptos (APT) ended the previous weekend in the red, registering a marginal decline. Selling pressure intensified on Monday as the price fell almost 7% to $4.305. It registered a marginal drop on Tuesday before dropping 1.44% on Wednesday and settling at $4.237. Bearish sentiment intensified on Thursday as APT fell over 7%, slipping below $4 and settling at $3.930. Source: TradingView Despite the overwhelming selling pressure, APT recovered on Friday, rising 4.55% to reclaim $4 and settle at $4.109. Price action remained positive on Saturday as the altcoin rose almost 3% to $4.223. APT fell to an intraday low of $4.066 on Sunday. However, it rebounded from this level to settle at $4.236, ultimately registering a marginal increase. The price continued pushing higher on Monday, rising 1.35% to $4.293. The current session sees APT down 1.49% at $4.229. Bittensor (TAO) Price Analysis Bittensor (TAO) registered a sharp drop on Monday, September 22, falling to a low of $301. It recovered from this level to settle at $318, ultimately dropping 4.53%. Sellers retained control on Tuesday as the price fell over 3% to $308. Despite the overwhelming selling pressure, TAO recovered on Wednesday, rising almost 1% to $311. The price was back in the red on Thursday, dropping over 4% to go below $300 and settle at $298. Source: TradingView TAO recovered on Friday, rising 0.99% to reclaim $300 and settle at $301. However, it was back in the red on Saturday, dropping 0.72% to $298. Buying pressure returned on Sunday as the altcoin rose 2.78% to $307. TAO rallied to an intraday high of $392 on Monday. However, it could not stay at this level and settled at $310, ultimately rising 1.12%. The current session sees TAO down over 4%, trading around $397. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
