Digital asset market today September 23: The cryptocurrency market witnessed a sharp decline as Bitcoin, Ethereum, XRP, Solana… all plummeted.

Digital asset market today September 23: Bitcoin drops shockingly, investors panic

Updated at 8:00 a.m. on September 23 (Vietnam time), the cryptocurrency market witnessed a sharp decline when Bitcoin (BTC) fell to the threshold of 112,000 USD, pulling the total capitalization down to 2,250 billion USD.

Major altcoins such as Ethereum, XRP, Solana, BNB and Cardano all lost 2-6% in just one day. Before that, the decline was even stronger, with some codes falling as much as 12%.

Crypto market update on the morning of September 23 (according to Coindesk).

CoinMarketCap’s Fear and Greed Index stopped at 47 (Neutral), reflecting cautious sentiment.

The main reason for the decline was a wave of leveraged liquidations. In the past 24 hours, 407,023 traders were liquidated, with a total value of $1.70 billion, of which $1.61 billion came from long orders (buying orders with the expectation that the price of that asset will increase in the future, from which the investor can sell to profit from the price difference).

As longs were forced to sell at low levels, the sudden increase in supply created a domino effect, causing prices to fall further and causing panic among the retail investor community.

Experts warn that if Bitcoin fails to hold the $112,000–$114,000 zone, the price could fall to $110,000; while Ethereum faces risks if it breaks the $4,200 mark.

However, strong capital flows from the US market could help the market bounce back in the short term, but given September’s gloomy past, high volatility will continue.

Bitcoin Policy Announcement Revealed

Dennis Porter, CEO and Co-founder of Satoshi Action Fund, announced that there will be a groundbreaking Bitcoin policy announcement in the US tomorrow, Wednesday, September 24 (Vietnam time).

It remains unclear whether Dennis Porter’s statement is true or just a publicity stunt. However, the comment has sparked a range of reactions from industry voices.

Crypto influencer Wendy O added to the excitement, noting that the news could have implications for the history of crypto and Bitcoin. In a follow-up tweet, Porter said the announcement would be highly political and could lay the groundwork for establishing the US as the crypto capital of the world.

Bitcoin price continues to fall. Photo: BTC News

If Porter’s claim is correct, Bitcoin’s political day could spur a positive move in BTC price, possibly sending the pioneering crypto above the $116,000 mark.

New opportunities from blockchain and digital assets for Vietnam’s economy

Blockchain is a technology that stores data in a block chain, stands out for its transparency, immutability and lack of intermediaries, helping to reduce financial transactions costs by 30-50% (BIS). After the cryptocurrency boom, this technology has expanded to insurance, supply chains, securities and especially asset tokenization.

Many countries such as Singapore, UAE, and Switzerland have built blockchain centers thanks to a clear legal framework. With quality technology human resources and competitive costs, Vietnam is also considered to have the potential to become an attractive destination. The Government’s issuance of Resolution 5/2025/NQ-CP on piloting the digital asset market opens up a transparent and sustainable playground for startups and investors.

Real estate is considered the most potential sector for tokenization, as the demand for capital is huge. According to Ripple and BCG, the global tokenized real asset market could reach $18.9 trillion by 2033, with a CAGR of about 53% from 2025.

Mr. Hoang Mai Chung, Chairman of the Board of Directors of Meey Group, commented that blockchain and asset tokenization (RWA) open a new chapter for global finance by automating transactions, reducing intermediaries, saving costs and increasing liquidity through fragmented ownership. RWA can reshape the way assets are invested, traded and attracted capital, but to realize the potential, Vietnam needs an open policy framework such as a sandbox with strict supervision.