The cryptocurrency market entered Week 38 (September 18–24) with optimism following a bullish Week 37 (September 11–17). Bitcoin (BTC) started the week on a positive note, rising 2.57% and reclaiming key technical levels—breaking above both the 50-day and 200-day exponential moving averages (EMAs), briefly pushing above the $27,000 mark. However, the upward momentum proved unsustainable.
Despite expectations, the U.S. Federal Reserve’s decision to hold interest rates steady during its midweek meeting failed to spark lasting confidence. Although rate stability was anticipated, Chair Jerome Powell’s comments suggesting further rate hikes may be necessary to combat inflation rattled markets. As a result, Bitcoin briefly dipped below $26,900 on Wednesday. The sentiment worsened Thursday, when BTC dropped 2.08%, forming a bearish Evening Star candlestick pattern—a strong technical signal indicating exhaustion in the prior rally.
Broader Market Trends: Bearish Pressure Builds
On a macro level, the formation of lower highs confirms that the prevailing downtrend remains intact. Technical indicators such as the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) are flattening, reflecting weakening bullish momentum and rising bearish sentiment across the market. With sharp declines marking the end of the week, Bitcoin is struggling to attract fresh capital inflows.
However, a potential catalyst looms on the horizon: the upcoming decision on Bitcoin spot ETF approvals in October. If approved, it could ignite a wave of institutional interest and renewed optimism by month-end. Below is a detailed outlook for BTC, ETH, XRP, and SOL over the coming week.
Weekly Price Outlook for Major Cryptocurrencies
Bitcoin (BTC): Testing Critical Support Levels
The recent pullback in Bitcoin prices can be attributed to profit-taking after gains between September 12 and 19, as traders await clearer directional signals. A critical psychological support level at $26,000 has already been breached. If Bitcoin closes below the $25,600 range, the next major support zone lies between $25,000 and $25,050.
Should this key support fail to hold, a deeper correction toward $20,000 becomes increasingly likely. Historically, such pullbacks often precede long-term bull markets. A drop to this level could set the foundation for the anticipated 2024–2025 bull cycle, offering strategic accumulation opportunities for long-term investors.
Market participants are closely watching macroeconomic factors—including interest rate policy and regulatory clarity—as well as on-chain data and exchange outflows to gauge future direction.
Ethereum (ETH): Following BTC’s Lead
Ethereum’s price action continues to mirror Bitcoin’s trajectory, remaining firmly in bearish territory. The RSI is trending downward, signaling weakening upward momentum. ETH has already broken below the $1,620 support level, increasing the likelihood of a move toward $1,550 in the near term.
That said, if Bitcoin stabilizes above $26,000, Ethereum may see a short-term rebound. A breakout above $1,680 could open the door for a test of $1,790 as a near-term target. Investors should monitor on-chain activity and Layer-2 adoption metrics for early signs of renewed demand.
XRP: Legal Clarity vs. Market Pressure
XRP received a significant boost earlier in 2023 when Ripple won its lawsuit against the U.S. Securities and Exchange Commission (SEC), with the court ruling that XRP is not a security. This regulatory clarity helped fuel a year-to-date gain of over 53%, reinforcing long-term bullish sentiment.
Despite this positive development, XRP has struggled to reclaim the $1 psychological level. Recently, buyers attempted to push the price back above the 200-day EMA, but failed—especially after a 2.78% drop on September 21. The coin has since broken below its short-term uptrend line.
In the downside scenario, XRP could retest support between $0.40 and $0.42—the lowest levels seen in six months. Conversely, if it regains and holds above the 200-day EMA, a retest of $0.54 could present a compelling buying opportunity.
Solana (SOL): At a Make-or-Break Point
Solana has been attempting to reclaim the $20.25 level since its breakdown on August 31. Despite two failed breakout attempts, SOL has shown resilience, holding above $19.45 without triggering a deeper sell-off.
The RSI remains near the neutral 50 mark, indicating balanced market sentiment with slight bullish bias. A daily close above $20.25 could trigger a swift move toward $22.17—a key resistance level. However, another rejection at $20.25 may lead SOL back to test support at $18.51.
Developers continue to expand Solana’s ecosystem, particularly in decentralized finance (DeFi) and NFTs, which could provide fundamental support even during periods of price consolidation.
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Market Summary: Consolidation Before Catalyst?
Since the broad rally in early 2023, most major cryptocurrencies have entered correction phases. Trading volume remains near multi-year lows, reflecting subdued investor appetite and limited liquidity despite price stability in some assets.
The remainder of 2025 hinges on three critical factors:
- The trajectory of global monetary policy
- Increased regulatory clarity around digital assets
- The SEC’s decision on spot Bitcoin ETFs
Notably, the SEC has delayed rulings on all spot Bitcoin ETF applications until October. Approval would mark a historic milestone—the first such product listed on a major U.S. exchange—and could serve as a powerful catalyst for institutional adoption and market-wide price appreciation.
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- Bitcoin price prediction
- Ethereum market analysis
- XRP SEC lawsuit outcome
- Solana price forecast
- Cryptocurrency downtrend 2025
- BTC support levels
- Spot Bitcoin ETF update
- Crypto market outlook
Frequently Asked Questions (FAQ)
Q: Why did Bitcoin drop after the Fed held rates steady?
A: While the rate hold was expected, Chair Powell’s suggestion of potential future hikes increased risk-off sentiment. Investors began rotating out of volatile assets like crypto, leading to profit-taking and downward pressure on BTC.
Q: Can Ethereum recover if Bitcoin stabilizes?
A: Yes. Ethereum often follows Bitcoin’s lead in major market moves. If BTC finds strong support above $25,000 and regains momentum, ETH could rebound toward $1,790 or higher.
Q: Is XRP still a good investment after its SEC win?
A: The legal victory provides long-term legitimacy and bullish potential. However, short-term price action depends on broader market conditions and investor sentiment.
Q: What triggers a breakout for Solana?
A: A daily close above $20.25 is crucial. Combined with rising trading volume and positive ecosystem developments, it could spark renewed buying interest.
Q: How important is the spot Bitcoin ETF decision?
A: Extremely. Approval would allow mainstream investors to gain exposure via traditional brokerage accounts, significantly increasing demand and market credibility.
Q: Could Bitcoin really fall to $20,000?
A: While possible in a worst-case scenario, such a drop would likely be temporary. Many analysts view sub-$25k levels as strong accumulation zones ahead of the next bull phase.
The current crypto market reflects a period of consolidation amid macro uncertainty. While short-term risks persist, structural developments—especially around regulation and ETF approvals—could redefine the landscape by late 2025.
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