Why Is Crypto Going Down Today? Bitcoin Slips Toward $82,600, XRP Falls 7%
Why is crypto falling? Bitcoin fell 2.8% to $83,400 as XRP and Dogecoin dropped about 7%. Damian Chmiel's charts: BTC retests $82,614 with $99,500 in view.
Source: Finance Magnates · September 24, 2026 at 10:02 AM · AI-assisted report
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KUALA LUMPUR, 24 SEPTEMBER 2026 —
Bitcoin slipped 2.8 % to about $83,400 on Thursday, while XRP and Dogecoin each fell roughly 7 % in the second consecutive day of declines, data from CoinGecko showed.
Market Impact
The pullback follows Monday’s rally that pushed Bitcoin to its highest daily close since January and arrives a day before the quarterly options expiry on Deribit, a timing that analysts say could shape short‑term market direction.
CoinGecko recorded Bitcoin at $83,400 at 08:50 UTC, a 2.8 % drop on the 24‑hour basis. On Binance the cryptocurrency traded at $83,513 on the daily chart at 08:55 UTC, down 1.05 % for the day and 3.6 % from Monday’s close of $86,620. The price sits about 1.1 % above the $82,614 support level that chartist Damian Chmiel highlighted in his recent analysis.
Chmiel wrote, “This is the retest of $82,614 that I expected,” and added that the “move toward $98,000 to $99,500 stays in play as long as that level holds on a daily closing basis.” Wednesday’s low of $83,500 and Thursday’s low of $83,301 constitute the first retest, according to his September 22 Bitcoin analysis that anticipated a breakout retest before any advance toward $99,500.
Paul Howard, senior director at Wincent, warned that a break below $85,000 “could see the market retrace towards” $81,000 to $82,000, a zone where options traders appear to hold downside protection. Howard’s comment underscores the importance of the $82,614 threshold; a daily close beneath it would weaken Chmiel’s bullish scenario.
The next support on Chmiel’s chart lies at $75,339, roughly 10 % below the current price and close to the $75,416 average cost of Strategy’s Bitcoin holdings cited by Oliver Carding, head of marketing at Tesseract Group.
Ether also showed a mixed picture. Bitstamp listed the token at $2,664.6, 3.5 % under the $2,757 resistance level that Chmiel flagged in his September 19 Ethereum analysis, while the price remained 1.8 % above the $2,616 support. Holding $2,616 would keep the door open for another attempt at $2,757; a daily close below that point would point to $2,393.
Chmiel noted that if Ether reclaims $2,757 on a closing basis, his chart’s one‑to‑one projection of the earlier rally points to $3,499, with intermediate resistance at $3,371 and $3,454.
XRP’s rally gave back more than it gained. The token touched $1.657 on Wednesday before closing near $1.50 on Bitstamp, and slipped to $1.479 on Thursday. Chmiel’s chart shows XRP breaking out of a bull flag earlier in the week and now falling back below $1.56, putting the pattern’s completion on hold.
Support at $1.46 sits 1.3 % below the current price; while it holds, the flag’s measured target of $1.97—about 33 % higher—remains a valid scenario.
Dogecoin fell 7.7 % from $0.1004 on Wednesday to $0.0927 on Bitstamp on Thursday, pulling it back from the flag breakout Chmiel described in his September 21 Dogecoin analysis.