The cryptocurrency market is consolidating on September 23, 2025, as major coins like $BTC , $ETH , $SOL and XRP experience a collective pullback. This movement is primarily driven by a widespread unwinding of leveraged positions, leading to significant liquidations across the market. Bitcoin is now testing key support near $112,000, while Ethereum sees a routine correction after its recent strong performance.

Underneath the price volatility, fundamental developments continue. Solana is advancing with its major Alpenglow network upgrade, and XRP is digesting the successful launch of its first US-listed ETF. The current climate presents a mix of short-term caution due to macroeconomic factors and long-term potential based on ongoing technological progress and institutional adoption.