Bitcoin Slips to $113K as Market Uncertainty Weighs; Altcoins Face Double-Digit Losses

NEW YORK — Bitcoin pulled back on Monday, cooling off after hitting a one-month high last week, as traders looked beyond the Federal Reserve’s latest rate cut and awaited fresh signals on the U.S. economic outlook.

The world’s leading cryptocurrency slipped 2.5% to $113,000 as of 09:39 ET (13:39 GMT), retreating from last week’s peak near $118,000, its strongest level since mid-August.

Although Bitcoin ended last week relatively flat, initial optimism from the Fed’s 25-basis-point rate cut was tempered by caution over the pace of future easing.

Altcoins Take a Bigger Hit

Altcoins saw sharper declines, with Ethereum plunging nearly 10% on Monday. Other top tokens also suffered heavy losses as investor sentiment remained fragile.

The downturn came as news broke that Praetorian Group International, a crypto trading firm, pleaded guilty to U.S. authorities for operating a Ponzi scheme that defrauded over 90,000 investors of at least $62 million.

Uncertainty also lingers around corporate crypto treasuries, particularly Strategy (formerly MicroStrategy), which continues to expand its Bitcoin holdings despite questions over long-term sustainability.

Strategy Expands Bitcoin Stash to $72 Billion

In an SEC filing, Strategy disclosed the purchase of 850 BTC between Sept. 15 and Sept. 21, spending nearly $99.7 million at an average price of $117,344 per coin.

This brings the company’s total stash to 639,835 BTC, valued at around $72 billion.

According to co-founder and chairman Michael Saylor, the firm acquired the holdings at an average cost of $73,971 per coin, putting Strategy on about $25 billion in unrealized gains. Its stockpile now represents more than 3% of Bitcoin’s total 21 million capped supply.

Fed Outlook Keeps Traders on Edge

Last week’s rate cut briefly boosted demand for riskier assets, but Fed Chair Jerome Powell’s cautious remarks signaled that further decisions would be data-driven, cooling hopes for an aggressive easing cycle.

Investors now await speeches from over 10 Fed officials this week, including Powell, as well as Friday’s release of the PCE price index, the Fed’s preferred inflation gauge.

• A hawkish stance could place additional pressure on Bitcoin and other risk assets.

• Signals of further cuts, however, might reignite bullish momentum.

Despite the pullback, Bitcoin remains up 5% in September and has gained over 20% year-to-date in 2025, supported by institutional inflows and optimism about mainstream adoption. Still, it trades below its all-time high above $124,000 set earlier this year.

Crypto Prices Today: Altcoins in the Red

• Ethereum (ETH): down 6.5% to $4,186.43 — lowest in over a month

• XRP: down 5% to $2.84 — lowest in two weeks

• Solana (SOL): down 7.1%

• Cardano (ADA): down 6.5%

• Polygon (MATIC): down 8.3%

• Dogecoin (DOGE): down 10%

• $TRUMP token: down 9%