The crypto market is holding steady today, with the total global market cap slightly rising by 0.1% to $3.99 trillion. In the past 24 hours, total crypto trading volume reached $175 billion, showing that activity remains high despite some price dips.

Among the top 10 cryptocurrencies, six are showing losses today. However, a few small altcoins are making big moves. AI Companions saw a massive jump of 181.4%, followed by A Hunters Dream with an 83.2% gain, and Hemi rising 54.3%. These gains highlight strong short-term momentum in low-cap coins.

Bitcoin’s recent price action has traders on edge. After a large wave of long position liquidations on Monday, Bitcoin briefly dropped below $112,000. Over 407,000 traders were impacted, with $1.5 billion in leveraged positions wiped out — the biggest liquidation event of the year so far.

MEXC’s chief analyst, Shawn Young, explained that this drop was caused by too many traders betting heavily on Bitcoin going up without strong support from fundamentals. He also pointed out that the stronger U.S. dollar after a Federal Reserve rate cut is adding pressure to crypto prices by making riskier assets less attractive.

Young warned that if Bitcoin closes below $112,000 again, it could fall further to $107,000 or even test the $100,000 support level. Still, he noted that many tokens are looking oversold, which might trigger a short-term recovery. If Bitcoin can reclaim $117,000, a rally toward $130,000 to $135,000 could be back on track.

At the moment, Bitcoin is trading at $113,020, showing a slight gain of 0.25% for the day. It bounced back after dipping below $112K earlier this week and is now holding above that key support level. Traders are watching closely to see if BTC can break through $115K — a move that could revive bullish sentiment.

If BTC climbs above $117K, it could open the door for a run to $120K and beyond. But if it slips back under $112K, we may see a drop to $107K next.

Ethereum is trading at $4,196.93, down 0.13% for the day. After briefly touching above $4,500 earlier this month, ETH has pulled back as trading volume stays moderate at around 36K. The next support levels to watch are $4,150 and $4,000. If it breaks below $4K, Ethereum could fall toward the $3,800 range.

On the upside, if ETH can regain $4,300, we could see another test of $4,500 and possibly a move toward $4,700 — assuming the overall market strengthens.

Investor sentiment is becoming more cautious. The Crypto Fear and Greed Index dropped to 40 today from 47 yesterday and 56 last month. While it’s still in the “Neutral” range, the trend shows that people are becoming more hesitant due to recent price swings and broader economic uncertainty.

U.S.-based Bitcoin spot ETFs also showed signs of cooling off. On September 22, they saw net outflows of $363.17 million — one of the biggest daily withdrawals in recent weeks. Even so, total net inflows for the year remain strong at $57.35 billion.

Fidelity’s FBTC led with $276.68 million in outflows, followed by Bitwise’s BITB ($52.30 million) and Grayscale’s GBTC ($24.65 million). Interestingly, BlackRock’s IBIT ETF saw no change for the day — a rare pause for one of the more active funds.

Ethereum spot ETFs in the U.S. also recorded net outflows of $75.95 million on the same day — ending a streak of steady inflows. The total inflow now stands at $13.84 billion for ETH ETFs. Fidelity’s FETH had the largest withdrawal at $33.12 million, followed by BlackRock’s ETHA ($15.07 million) and Bitwise’s ETHW ($22.30 million). None of the nine ETFs saw positive inflows that day.

This shift shows growing investor caution amid price volatility and ongoing macroeconomic pressures affecting riskier assets like crypto.

Meanwhile, a trend from earlier this year where small companies added crypto to their balance sheets is starting to fade. Some of these firms are now launching share buyback programs — sometimes using borrowed money — to support their falling stock prices as confidence in their crypto strategy wavers.

In summary: The crypto market is steady but showing mixed signals. Bitcoin and Ethereum are holding key levels but face pressure from macroeconomic factors like U.S. interest rates and dollar strength. Investor sentiment is cautious, with ETFs seeing outflows and traders watching key support and resistance levels for signs of where prices go next.