The cryptocurrency markets fell sharply on Tuesday as Monday’s bounce fizzled 0 cryptocurrencies, including Bitcoin (BTC) , Ethereum (ETH) , and Ripple (XRP) , have struggled to regain momentum since last Friday’s flash 1 cheer around “Uptober” has also faded, as traders remain wary of making large bets amid heightened 2 have noted that sentiment remains subdued, with BTC down over 2% over the past 30 3 started the week in positive territory, crossing the $111,000 mark and trading around $111,500. However, momentum faded as price action turned 4 a result, BTC slipped below $110,000, falling to a low of $107,550 before moving to its current 5 flagship cryptocurrency is down over 3%, trading around $107,870.
ETH has also fallen below $4,000, with the price down over 4% at $3,893. XRP is down nearly 2%, while Solana (SOL) is down almost 5% at $184. Dogecoin (DOGE) is down 4% and Cardano (ADA) is down 5% at $0.642. Chainlink (LINK) , Stellar (XLM) , Hedera (HBAR) , Litecoin (LTC) , Toncoin (TON) , and Polkadot (DOT) have also registered substantial declines over the past 24 hours.
BitMine, Strategy Expand Crypto Portfolios The cryptocurrency market is back in the red as crypto assets struggle to regain momentum after the October 10 flash 6 the market downturn, institutional confidence in Bitcoin (BTC) and Ethereum (ETH) remains 7 giants, including Strategy and BitMine Immersion Technologies, bought the dip, expanding their crypto 8 to data from blockchain analytics firm Arkham Intelligence, Bitmine Immersion Technologies purchased $250 million worth of ETH. “Tom Lee just bought another $250 million in 9 new addresses bought $250 million in ETH from Bitgo and 10 accounts match Bitmine’s prior acquisition pattern.” BitMine revealed it has accumulated 203,826 ETH, valued at over $800 million, over the past week, taking its total stash past 3.3 million ETH, worth around $13 billion.
Meanwhile, Strategy, the largest corporate holder of BTC, also used the dip as an opportunity to 11 to a post by Strategy executive chairman Michael Saylor, the firm purchased 168 BTC for $18.8 million at an average cost of $112,051 per 12 now holds 640,418 BTC, valued at over $69.3 billion. “Strategy has acquired 168 BTC for ~$18.8 million at ~$112,051 per bitcoin and has achieved BTC Yield of 26.0% YTD 2025.” Next Crypto Bear Cycle Will Have A New Trigger Crypto analyst Willy Woo believes the next crypto bear market could be exceptionally brutal and be driven by a business cycle downturn not seen 13 analyst noted in a post on X, “We had two 4y cycles 14 it's only one: global M2 15 bear IMO will be defined by another cycle, people forget about → the business 16 last biz cycle downturns that really took hold were 2008 and 2001, from before crypto markets were invented.” A business cycle downturn is a period of economic contraction that sees a drop in GDP and a jump in unemployment, a decline in consumer spending, and a general slowdown in business 17 2001 business cycle downturn saw rising unemployment and a 50% drop in US stock prices over two years.
Meanwhile, the 2008 financial crisis saw a GDP contraction, a jump in unemployment rates, and a 56% drop in the S&P 500, triggered by a subprime mortgage crisis, credit freeze, and a banking system 18 Government Shutdown Likely To End This Week According to a White House economic advisor, the US government shutdown is likely to end sometime this 19 Hassett stated during an interview, “I think the Schumer shutdown is likely to end sometime this 20 moderate Democrats will move forward and get us an open government, at which point we could negotiate whatever policies they want to negotiate with regular order.” Hassett added that if the shutdown does not end, the Trump administration could impose stronger measures to force the Democrats to 21 is President Trump’s top pick to replace Federal Reserve Chair Jerome Powell in May 2026.
“Bitcoin Is Not Crypto” Twitter creator Jack Dorsey has reignited the debate around Bitcoin (BTC) after posting a brief message stating “Bitcoin is not crypto.” The message prompted a massive response from the 22 argued that Satoshi Nakamoto described Bitcoin as a peer-to-peer cryptocurrency on the BitcoinTalk forum in 2010, and Dorsey highlighted the word “currency” to indicate its monetary 23 has long been rumored to play a role in BTC’s 24 has denied being Nakamoto several times, stating in a 2020 interview, “No, and if I were, would I tell you?” Bitcoin (BTC) Price Analysis Bitcoin (BTC) slumped back into bearish territory as its recovery lost momentum after reaching an intraday high of $111,748 on 25 flagship cryptocurrency rebounded over the weekend, rising 0.70% on Saturday and 1.37% on Sunday to settle at $108,676.
BTC started the week in positive territory despite volatility, rising nearly 2% to reclaim $110,000 and settle at $110,568. However, analysts' worries about a dead-cat bounce have come true, with BTC down almost 3% during the ongoing session, trading around $107,590. BTC has struggled to regain momentum after the October 10 flash 26 crash dragged markets down from record levels, wiping around $500 billion in market 27 crash heightened risk aversion as investors became wary of making large 28 drop also wiped out optimism around “Uptober”, with BTC down over 2% on the monthly 29 analysts stated, “So far this year, Uptober hasn’t gone to plan for Bitcoin 30 of seasonal strength, the price action has remained subdued with an early rally fizzling midway through the month, delivering an ugly reversal that may not be over yet.” The analysts also highlighted that BTC was rapidly breaking down correlations with broader risk-driven markets, primarily 31 has also faltered over the past two weeks, even as Wall Street indexes hit record highs 32 BTC’s price action has struggled in recent sessions, a report released by Coinbase Institutional and Coinglass revealed that most investors believe the bull market will continue for the next 3-6 33 Duong, Coinbase Institutional’s head of research, stated that he expects favorable macroeconomic, regulatory, and policy conditions to persist.
Additionally, digital asset treasury companies will continue to amplify demand for BTC and other assets, and more rate cuts by the end of the year could mobilize $7 trillion in idle funds. However, Duong also highlighted several challenges, including the ongoing government 34 shutdown has delayed key economic data and stalled the growing momentum behind crypto 35 also cast doubt on the long-term feasibility of the digital asset treasury business 36 trader Daan Crypto Trades believes there is more volatility to come, stating, “Volatility is definitely high here due to the thin books post this massive market 37 are 38 after the massive liquidation event last week.
This, combined with weekend price action and a lot of emotional traders, makes for relatively volatile moves on low timeframes.” BTC and the broader crypto market crashed last Friday (October 10), after President Trump announced 100% tariffs on Chinese goods and new export controls for 39 announcement was made in retaliation for China imposing restrictions on rare earth mineral 40 a result, BTC plunged to $102,000 on Binance before recovering and settling at $112,980. Selling pressure persisted on Saturday as the price fell almost 2% to $110,768. Despite the overwhelming selling pressure, markets recovered on Sunday as BTC rose nearly 4% to reclaim $115,000 and settle at $115,067.
The price faced selling pressure and volatility on Monday, ultimately registering a marginal increase and settling at $115,274.) Price Analysis Ethereum (ETH) is back in the red as its weekend bounce lost momentum on 41 altcoin rose 1.52% on Saturday and over 2% on Sunday to end the weekend at $3,985. ETH reached an intraday high of $4,085 on Monday, but lost momentum after reaching this level as volatility and bearish sentiment took center 42 ultimately gained the upper hand as the price fell below $4,000 and settled at $3,981, registering a marginal 43 pressure has intensified during the ongoing session, with ETH down almost 3% at $3,867.
Despite ETH’s price struggles, BitMine Immersion Technologies chairman Tom Lee remains 44 confirmed BitMine went on an ETH shopping spree after the crypto market saw one of the largest deleveraging events in history earlier this 45 stated that the price decline was an attractive risk/reward, making the current price attractive at which to buy the 46 stated, “Open interest for ETH sits at the same levels as seen on June 30th of this year, when ETH was $2,500. Given the expected Supercycle for Ethereum, this price dislocation represents an attractive risk/reward.” BitMine purchased $250 million in ETH on 47 company holds over 3.3 million ETH tokens worth over $13 48 aims to increase its holdings to 5% of ETH’s total 49 also believes ETH could hit $10,000 this year, despite the year ending in just over two 50 suggested that BTC and ETH could rise the same way the US dollar rose to dominance in 1971 after President Nixon made it fully synthetic and no longer backed by gold.
“When that happened, the immediate beneficiary was demand and a market to own gold.” ETH plunged to an intraday low of $3,444 on Friday (October 10) after President Trump announced 100% tariffs on Chinese imports and export controls on key 51 recovered from this level to settle at $3,836, ultimately dropping over 12%. Selling pressure persisted on Saturday as the fell 2.21% to $3,752. ETH recovered on Sunday, rising nearly 11% to reclaim $4,000 and settle at $4,158. Buyers retained control on Monday as the price rose over 2% and settled at $4,224.
ETH plunged to an intraday low of $3,895 on Tuesday as selling pressure intensified. However, it recovered from this level to reclaim $4,000 and settle at $4,129, ultimately dropping $4,129.) Price Analysis Solana (SOL) failed to reclaim $200 as its weekend bounce fizzled out after reaching an intraday high of $194 on 52 altcoin made a strong recovery on Saturday, rising over 3% after Friday’s low of $174. It faced volatility on Sunday as buyers and sellers struggled to establish 53 ultimately gained the upper hand as the price registered a marginal 54 registered a 0.95% increase on Monday and settled at $189 after reaching an intraday high of $194.
Selling pressure has returned during the ongoing session, with the price down almost 3%. Meanwhile, Gemini has launched the Solana Edition credit 55 new card introduced an auto-staking feature that folds blockchain participation into everyday consumer 56 exchange stated in an announcement that cardholders opting for Solana rewards can have them automatically staked on Gemini and earn a yield of up to 6.77%, while supporting transaction validation on the Solana 57 remains in a descending channel on the daily chart with lower highs and 58 selling pressure persists, the price could drop below $180. However, if SOL decisively reclaims the $200 level, it could push towards $220 or 59 started the previous weekend deep in bearish territory as markets 60 a result, the price tanked to an intraday low of $170 before settling at $188, ultimately dropping over 14%.
Sellers retained control on Saturday as the price fell almost 6% to $177. SOL made a strong recovery on Sunday, rising nearly 11% and settling at $197. The price continued pushing higher on Monday, rising almost 6% to reclaim $200 and settle at $208. Despite the positive sentiment, SOL lost momentum on Tuesday, falling to an intraday low of $191 before recovering to reclaim $200 and settling at $202.
Selling pressure persisted on Wednesday as SOL fell over 4%, slipping below $200 and settling at $192. Price action remained bearish on Thursday as the altcoin fell nearly 5% to $184.) Price Analysis Celestia (TIA) plunged to an intraday low of $0.237 on Friday (October 10) as the cryptocurrency market 61 recovered from this level to reclaim $0.90 and settle at $0.926, ultimately dropping 36%. Selling pressure persisted on Saturday as the price fell 0.71% to $0.920. However, it recovered on Sunday, rising over 15% to end the day at $1.061.
Buyers retained control on Monday as TIA rose 12.04% and settled at $1.189. Despite the positive sentiment, TIA lost momentum on Tuesday, dropping nearly 2% to $1.167. Selling pressure intensified on Wednesday as the price fell 7.85% and settled at $1.076. Sellers retained control on Thursday as TIA fell 4.59% to $1.026.) Price Analysis Jupiter (JUP) plunged to an intraday low of $0.107 on Friday (October 10).
It recovered from this level to settle at $0.329, ultimately dropping 23%. Despite the overwhelming selling pressure, the price recovered over the weekend, rising 2.31% on Saturday and nearly 11% on Sunday to settle at $0.372. Buyers retained control on Monday as JUP rose almost 8% and settled at $0.402. Selling pressure returned on Tuesday as the price fell by over 6% and settled at $0.376.
Sellers retained control on Wednesday as JUP dropped 3.69% to $0.362.
Story Tags
Latest news and analysis from Crypto Daily
