On the morning of September 17th, the cryptocurrency market witnessed a unanimous surge. Data from OKX at 10 AM revealed that Bitcoin (BTC) climbed over 1%, reaching $116,720.
Cryptocurrency Market on September 17th
Alongside Bitcoin, other digital currencies such as Ethereum (ETH) rose by 0.3%, hitting $4,533; Solana (SOL) increased by 1.1%, reaching $236; and BNB surged strongly by 4%, attaining $960.
According to Cointelegraph, despite Bitcoin’s recent rebound, it remains volatile. As the U.S. market opened, Bitcoin’s price spiked to $116,649 but quickly retreated, fluctuating between $114,800 and $115,300, with significant buy and sell orders appearing on exchanges.
The analytical platform TheKingfisher noted that just below the current price level, particularly around $114,724, many investors are trapped with long positions.
Bitcoin is trading around $116,600. Source: OKX
If the price drops to this level, these investors may be forced to sell at a loss, potentially exacerbating market volatility.
Previously, trader Skew warned of unusual short-term volatility in the cryptocurrency market. Many traders are short-selling in anticipation of the U.S. Federal Reserve’s (Fed) expected 0.25% rate cut in their upcoming meeting—the first reduction of 2025.
The anticipation of the Fed’s decision is influencing not only Bitcoin but also other markets. U.S. stocks experienced a slight decline, while gold prices fluctuated significantly, with predictions of reaching a new record high of $3,703 per ounce.
Analysts suggest that gold typically reacts early to economic shifts, while Bitcoin follows suit a few months later. Since the beginning of the year, gold has risen by 40%, whereas Bitcoin has only increased by 23%.
In Vietnam, following the enactment of Resolution No. 05/2025/NQ-CP dated September 9, 2025, by the Government on the pilot implementation of the cryptocurrency market in Vietnam, several digital asset platforms have announced the suspension of their services in the country. These include KyberSwap (part of Kyber Network), Coin98 Wallet (from the Ninety Eight ecosystem), Viction (formerly TomoChain), and Aliniex Exchange. Currently, these platforms are awaiting further specific guidelines to resume operations in Vietnam.
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