On the evening of September 28th, the cryptocurrency market witnessed mixed movements. Data from OKX revealed a slight 0.18% increase in Bitcoin, reaching $109,620, while several altcoins experienced declines: Ethereum dropped by 0.5% to $4,000, XRP fell by 0.08% to $2.78, BNB lost 0.3% to $973, and Solana saw a significant 1.4% decrease to $200.
According to CoinDesk, Bitcoin closed the previous week at around $109,600, marking a loss of over 5% and its third-largest weekly decline this year. During the week, the cryptocurrency experienced a sharp drop from $111,000 to approximately $109,000—its lowest point in over three weeks—following the U.S. Federal Reserve’s interest rate cut.
As a result, investors lost over $1.18 billion in just 24 hours, with 256,000 accounts facing liquidated positions. Of this amount, $1.06 billion came from long positions betting on price increases.
In Q3, Bitcoin saw only a 1% gain, while September remained largely flat. Currently, the cryptocurrency is trading between $107,000 and $111,000, a critical support level. Breaking below this range could lead to a significant drop to $100,000. Conversely, to regain upward momentum, Bitcoin needs to surpass $115,000 to target $120,000.
Bitcoin is currently trading at $109,620. Source: OKX
In related news, a recent Chainalysis report highlights that Vietnam remains among the top 5 countries globally in cryptocurrency adoption, alongside India, Pakistan, Brazil, and the United States.
India has held the top position for three consecutive years, making the Asia-Pacific region the fastest-growing market with a 69% increase in transaction value compared to the previous year.
The U.S. rose to second place, driven by Bitcoin ETF inflows and a clear regulatory framework, while Nigeria fell to sixth place.
Vietnam continues to demonstrate strong interest in digital assets, reflecting the significant growth potential of the cryptocurrency market in Southeast Asia.
According to Chinhphu.vn, during a recent visit to the United Arab Emirates (UAE), Deputy Prime Minister Nguyễn Hòa Bình met with representatives from major exchanges Bybit and Binance.
During the meeting with Bybit, which has over 2.5 million users in Vietnam, the CEO expressed readiness to collaborate on developing a legal framework, sharing expertise, and training personnel. The Deputy Prime Minister praised this commitment, emphasizing the urgent need for a legal framework to establish Vietnam as an international financial hub.
In discussions with Binance, the Deputy Prime Minister expressed hope that the company would open an office in Da Nang and partner with Vietnam’s international financial center to launch a cryptocurrency exchange. He also invited Richard Teng, Binance’s CEO and former leader of Abu Dhabi Global Market, to serve as a senior advisor for the center’s development.
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