Latest Crypto News and Market Updates – September 23

1. BTC, ETH and SOL weaken as altcoins tumble

Bitcoin, Ethereum, and Solana all weakened while many altcoins continued to plunge. Meanwhile, all three major U.S. stock indexes hit fresh highs. Crypto stocks were mixed, with BMNR dropping 10% to lead losses. Market FOMO is cooling quickly.

2. $1.66B in long positions liquidated

Over $1.66B worth of long positions were liquidated yesterday — the second-highest level since September 2021. A sharp reminder that bull markets often bring steep corrections, calling for cautious trading.

3. 0G becomes the day’s “meme god”

0G spiked from its $7 listing to $19.32 on Upbit before retracing to around $5.4, with market cap at $4.8B. Many short positions were wiped out — proof of meme coin volatility.

4. ASTER sees mild rebound after crash

ASTER bounced slightly after a steep drop, supported by a 5% trading fee discount promotion and CZ “liking” a related post. The perp narrative may be setting up for another move higher.

5. PumpBTC suspected of rug pull

PumpBTC surged 300% in two hours before collapsing from $0.86 to $0.086. A textbook example of a rug pull scenario.

6. UXLINK plunges after multisig hack

UXLINK fell from $0.32 to $0.09 after its multisig wallet was hacked and a large batch of tokens was sent to exchanges. Best to wait for clarity before participating.

7. Meme token GIGGLE sinks on BSC

GIGGLE, once valued at $50M, has dropped to $27M. The token is loosely linked to CZ’s Giggle Academy education project.

8. PayPal invests in Layer 1 stablecoin project

PayPal announced an investment in the Layer 1 stablecoin project $Stable, part of the Tether ecosystem. The stablecoin narrative remains strong and worth watching.

9. SKY ↔ MKR introduces penalty swap mechanism

Holders of MKR who fail to swap on-chain to SKY will be penalized 1% every three months. The new mechanism strongly incentivizes early conversion.

10. Rainbow Wallet to launch $RNBW token in Q4

Rainbow Wallet confirmed plans to launch its native token RNBW in Q4. Airdrop details remain undisclosed, but now is the time for users to start interacting.

11. BiyaPay turns bearish, warns of risks

BiyaPay analysts believe the “crypto treasury” narrative has peaked. Projects may be forced to sell tokens to cover costs, pushing BTC lower. Others argue rate cuts won’t be enough to fuel BTC — suggesting this bull run could be nearing its end.

12. AI Market: sideways action, altcoins under pressure

AI analysis shows the market is consolidating with heavy battles among majors. BTC is ranging between 111K–117K, ETH shows outflow signs, and BNB remains firm but volatile. Short-term sentiment is cautious, with capital favoring large caps and BNB tokens. Altcoins remain under pressure until a clearer correction sets the stage for selective recovery.

Overall: On Sept 23, the market saw heavy selling pressure. BTC, ETH, and SOL weakened, altcoins faced mass liquidations, while 0G and ASTER drew attention. PumpBTC faced rug pull suspicions, PayPal boosted the stablecoin narrative, and caution dominates short-term outlooks.

Disclaimer: The content above reflects the author’s personal views and does not represent any official position of Cobic News. The information provided is for informational purposes only and should not be considered as investment advice from Cobic News.