Key Takeaways
- • Total crypto market capitalisation fell 1% to $2.81T, touching its 50-day moving average before rebounding, according to FxPro analysts.
- • Bitcoin dipped to $81K, triggering stop-loss orders, then rebounded to $83.7K as buyers defended the 50-day MA.
- • The Crypto Fear & Greed Index slipped to 57 (greed), its lowest reading since September 18.
- • Strategy bought 249 BTC at an average price of $86.2K, bringing its holdings to 848,250 BTC at an average cost of $75.4K.
- • Tokenised assets hit a record $3.9B market cap, while Morgan Stanley delayed tokenised share trading to Q1 2027.
Summary
The crypto market's total capitalisation fell 1% to $2.81T, according to FxPro's market analysis, approaching its 50-day moving average at its intraday low amid thinner liquidity after the close of regular US trading. The market quickly recovered and rose at the start of the Asian session. Analysts noted concern over broader conditions, with the US Dollar Index moving closer to 18-month highs. Altcoins weakened broadly, with gainers outnumbering losers 1:18. BAT (+13.6%), Tezos (+2.5%) and Tron (-0.7%) led performers, while Near (-9.8%), Algorand (-7.7%) and VeChain (-7.4%) were the largest decliners.
Bitcoin slipped to $81K under pressure from equity market selling, triggering a heavy layer of stop-loss orders and touching the 50-day moving average. Per FxPro, BTC found solid demand at that level, as it had on the prior Thursday, and rebounded to $83.7K. FxPro said Bitcoin could rise to $85K or retest $87K if the pullback proves a healthy correction, but noted that the move needs confirmation and could fade without external validation.
FxPro attributed the first-half October pressure to high US government bond yields, expensive oil, slowing ETF inflows and profit-taking, which left Bitcoin vulnerable to leveraged liquidations, according to XWIN. The Crypto Fear & Greed Index fell to 57, its lowest level since September 18, and FxPro said it remains in a bull market characterised by buying on dips as long as it stays in the upper half of the scale.
Strategy continued buying Bitcoin for a fourth consecutive week, though it reduced purchases to 249 BTC at an average price of $86.2K. The company now holds 848,250 BTC at an average cost of $75.4K. In ether, Bitmine bought an additional 12,532 ETH last week, bringing reserves to 6.03 million ETH, or 4.94% of total supply. It needs roughly 72,000 more ETH to reach its 5% target.
Tokenised asset market capitalisation reached a record $3.9B, with BNB Chain leading at $1.2B, followed by Ethereum at $842M. Morgan Stanley postponed the launch of tokenised share trading until the first quarter of 2027, citing a lack of available products and client demand. According to Bloomberg, the US Department of Justice is also investigating whether Binance is complying with the terms of its 2023 agreement with US authorities, specifically concerning alleged circumvention of Iran sanctions.
Bitcoin slipped to $81K under pressure from equity market selling, triggering a heavy layer of stop-loss orders and touching the 50-day moving average. Per FxPro, BTC found solid demand at that level, as it had on the prior Thursday, and rebounded to $83.7K. FxPro said Bitcoin could rise to $85K or retest $87K if the pullback proves a healthy correction, but noted that the move needs confirmation and could fade without external validation.
FxPro attributed the first-half October pressure to high US government bond yields, expensive oil, slowing ETF inflows and profit-taking, which left Bitcoin vulnerable to leveraged liquidations, according to XWIN. The Crypto Fear & Greed Index fell to 57, its lowest level since September 18, and FxPro said it remains in a bull market characterised by buying on dips as long as it stays in the upper half of the scale.
Strategy continued buying Bitcoin for a fourth consecutive week, though it reduced purchases to 249 BTC at an average price of $86.2K. The company now holds 848,250 BTC at an average cost of $75.4K. In ether, Bitmine bought an additional 12,532 ETH last week, bringing reserves to 6.03 million ETH, or 4.94% of total supply. It needs roughly 72,000 more ETH to reach its 5% target.
Tokenised asset market capitalisation reached a record $3.9B, with BNB Chain leading at $1.2B, followed by Ethereum at $842M. Morgan Stanley postponed the launch of tokenised share trading until the first quarter of 2027, citing a lack of available products and client demand. According to Bloomberg, the US Department of Justice is also investigating whether Binance is complying with the terms of its 2023 agreement with US authorities, specifically concerning alleged circumvention of Iran sanctions.
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