Bitcoin dropped to its lowest level since September after strong US economic data was released. Investors reacted nervously, pulling down cryptocurrencies and sector-related stocks, while market sentiment remains under significant pressure.

Bitcoin under pressure from US economic data

Bitcoin has faced significant swings in recent days, confirmed by Thursday’s drop. According to TradingView, the largest cryptocurrency’s price fell below 109,000 dollars, marking the lowest level since early September. This movement occurred after the release of macroeconomic data from the US, showing that economic growth was much stronger than expected.

The US government reported that GDP grew at an annualized rate of 3.8% in Q2. Previous estimates showed 3.3%, with an initial estimate of just 3%. This difference significantly altered investor sentiment.

These data cast doubt on the idea that the US labor market is weakening and reduced the likelihood that the Federal Reserve will ease monetary policy further next month.

Massive liquidation at this year’s high

Along with Bitcoin, other cryptocurrencies also fell. Ethereum dropped below 4,000 dollars with a 4.5 % loss in the last 24 hours. Solana, which recently enjoyed investor favor, declined by 6 % in a single day and lost nearly 20 % over the past week. Similar losses occurred for tokens like Dogecoin, Avalanche, and Sui.

According to CoinGlass, on September 25 massive long position liquidations occurred in the amount of 1.09 billion dollars. Just three days earlier, on September 22, positions worth 1.65 billion dollars were liquidated.

This is the largest market clearing since December 2024, when a similar development led to a subsequent 30 % correction in Bitcoin’s price. Investors are now anxiously watching whether history will repeat or if the cryptocurrency can stabilize. Market conditions remain tense, and further developments could significantly influence sentiment in the coming weeks.