The crypto market is down today, showing a notable dip as total market capitalization fell by 2.3% to $3.76 trillion. Trading volume over the past 24 hours stands at $156.6 billion, reflecting moderate market activity amid continued price corrections across major assets.
TLDR:
- The total crypto market cap dropped 2.3% to $3.76 trillion;
- 8 of the top 10 coins are down;
- Fear & Greed Index sits at 33 (Fear), up slightly from 30;
- BTC is consolidating between $107K–$110K;
- ETH faces pressure around $3,850, losing that level could bring $3,700–$3,500;
- US BTC spot ETFs saw $40.47M in outflows;
- US ETH spot ETFs posted heavier $145.68M outflows;
- A SpaceX-linked wallet moved $268M in BTC after a 3-month pause;
Crypto Winners & Losers
At the time of writing, 8 of the top 10 cryptocurrencies by market capitalization are in the red.
Bitcoin (BTC) dropped 2.0% over the past 24 hours, currently trading at $108,562, while Ethereum (ETH) is down 3.5%, sitting at $3,885.73.
Binance Coin (BNB) saw the steepest decline, losing 3.6% to trade at $1,075.93, marking a 10.2% drop over the past week.
Meanwhile, XRP (XRP) slipped 1.8% to $2.42, and Solana (SOL) fell 2.8% to $186.31. Cardano (ADA) is also down 3.4% to $0.6475, extending its weeklong downtrend.
Among the top gainers, SynFutures (SYF) surged 50.9%, followed by Hajimi with a 41.2% rise and BinanceLife up 30%.
In contrast, the trending coins include Zora, FLOKI, and Zcash, with Zcash seeing a modest 7.4% daily gain.
Overall, the market sentiment remains cautious as traders await signs of stabilization after this week’s correction, with Bitcoin holding above the $108,000 support level while altcoins continue to face selling pressure.
However, crypto investor and entrepreneur Ted Pillows sees $100,000 coming into play next if BTC price fails to establish a floor.
Bitcoin Slips Toward $107K as Traders Eye CME Gap and $100K Retest
Bitcoin fell to weekly lows near $107,460 on Tuesday, erasing its early rebound as traders turned their focus to the latest unfilled CME futures gap.
The drop, amounting to a 2.5% decline on the day, came amid thin trading volumes and cautious sentiment following last week’s volatility.
Analysts noted that Bitcoin opened the week with a small CME gap below current levels and partially filled it, but a full closure would require a move toward $107,390.
Popular trader Daan Crypto Trades said bulls need to hold the $107K level to avoid signaling further weakness, while another large gap at $110K was already closed last week.
Market watchers warned that fading momentum and low volume could trigger a deeper pullback toward $100K–$98K, levels not seen since the last major correction.
“The low-volume breakout never confirmed a true reclaim of support,” trader Roman said, suggesting Bitcoin may still revisit lower price zones before finding a firm bottom.
Levels & Events to Watch Next
At the time of writing on Tuesday afternoon, Bitcoin (BTC) is trading at $108,645, down 1.75% over the past 24 hours.
The coin saw an intraday high of around $110,500 before sliding to the day’s low near $107,400. Over the last week, BTC has fallen more than 2%, showing persistent weakness after failing to sustain its rebound from early October lows.
Currently, Bitcoin is consolidating in the $107,000–$110,000 range. A breakout above $110,800 could open the door toward $113,200 and possibly $115,000, while losing support at $107,000 may push the price back toward $104,500, levels tested during the last correction.
Meanwhile, Ethereum (ETH) is trading at $3,893, down 2.19% in the past day. The coin reached a daily high near $3,980 before retreating to its current level, with a 7-day low around $3,750.
ETH remains under pressure alongside Bitcoin, slipping over 3% this week and nearly 12% below its late-September peak of $4,420.
If Ethereum drops below $3,850, it could slide toward $3,700 and possibly $3,500. However, a move above $4,000 could trigger a short-term recovery toward $4,200 and $4,350 if buying momentum returns.
Meanwhile, the crypto market sentiment remains in the fear zone, with only a slight improvement since yesterday. The Crypto Fear and Greed Index stands at 33, up from 30 the previous day but still signaling cautious investor behavior.
Compared to last week’s neutral level of 42, sentiment has clearly weakened as traders grow more uncertain about short-term price direction. The index is now hovering close to the lower end of the spectrum, showing that investors are still wary after recent market pullbacks.
The US Bitcoin spot exchange-traded funds (ETFs) recorded another day of outflows on October 20, totaling $40.47 million in net redemptions. The day’s trading volume across all issuers reached $4.87 billion, while cumulative net inflows since launch remain strong at $61.50 billion.
Among the 12 listed funds, the largest outflow came from BlackRock’s iShares Bitcoin Trust (IBIT), which saw $100.65 million leave the fund despite holding the highest net assets at $88.82 billion. On the other hand, VanEck’s HODL ETF led inflows with $21.16 million, followed by Bitwise’s BITB with $12.05 million and Fidelity’s FBTC with $9.67 million.
The US Ethereum spot ETFs also saw heavy outflows on October 20, totaling $145.68 million, marking one of the largest single-day redemptions since launch. Total trading volume across all ETH spot ETFs reached $2.15 billion, while cumulative net inflows remain positive at $14.45 billion.
The majority of the withdrawals came from BlackRock’s ETHA, which recorded $117.86 million in outflows despite leading the category with $15.85 billion in total assets under management. Fidelity’s FETH followed with $27.82 million in redemptions.
In contrast, other issuers, including VanEck, Bitwise, and 21Shares, reported no significant inflows or outflows during the same period.
Meanwhile, a SpaceX-linked wallet has moved $268 million worth of Bitcoin to two separate addresses on Tuesday, Arkham data shows.
According to on-chain analyst Ai Yi, the transfer from SpaceX account follows a 3-month hiatus. The analyst suggested that the move is likely to be an internal management move and not a sale.
“In July, SpaceX’s sudden transfer had its receiving address marked by Arkham as a Coinbase Prime Custody address. This time, it might just be wallet reorganization.”
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