Why Is Crypto Down Today? – October 30, 2025

The crypto market is down today, with the total cryptocurrency market capitalization falling by 3.0% to $3.78 trillion, according to data from CoinMarketCap. Meanwhile, the 24-hour trading volume sits at $192 billion, reflecting reduced activity as major cryptocurrencies turn red. TLDR: The global crypto market cap fell 3.0% to $3.78T; 8 of the top 10 coins and most majors in the red; BTC dropped 3.5% to $109,373, while ETH slid 3.6% to $3,868; The Fed’s 25 bps rate cut and the end of quantitative tightening in December signal returning liquidity; Fear & Greed Index fell to 34 (Fear); BTC ETFs saw $470.7M outflows; ETH ETFs posted $81.44M outflows; AUSTRAC fined CryptoLink A$56,340 (US$37,085) for AML compliance ￰3￱ Winners & Losers At the time of writing, 8 of the top 10 cryptocurrencies by market capitalization have declined over the past 24 ￰4￱ (BTC) fell 3.5%, now trading at $109,373, maintaining a market cap of over $2.18 ￰5￱ (ETH) slipped 3.6% to $3,868, while BNB (BNB) dropped 0.5% to $1,107.

XRP (XRP) recorded a 4.4% decline to $2.54, and Solana (SOL) lost 3.9%, now priced at $190.92. The biggest drop among the top 10 came from Dogecoin (DOGE) , which fell 4.4% to $0.1872. Despite the broader downturn, a few altcoins posted impressive ￰6￱ (AURORA) surged 65.1% to $0.08555, while Jelly-My-Jelly (JMJ) and Anvil (ANVL) rose 50.6% and 44.0%, ￰7￱ contrast, PepeNode (PNODE) and BlockchainFX (BFX) topped the list of trending tokens despite declines of 19.7% and 5.7%, showing strong retail interest amid market volatility. Meanwhile, Swiss-based asset manager 21Shares has filed with the US Securities and Exchange Commission (SEC) to launch a Hyperliquid (HYPE) exchange-traded fund (ETF) amid growing institutional appetite for altcoin-linked investment products. @21Shares seeks SEC approval for a fund tracking the HYPE token, signaling growing institutional demand for altcoin exposure. #21Shares #ETF ￰0￱ — ￰8￱ (@cryptonews) October 30, 2025 The move came just weeks after Bitwise filed for a similar Hyperliquid ETF , underscoring intensifying competition among asset managers to capture investor demand for exposure to decentralized trading ￰9￱ HYPE token powers Hyperliquid’s decentralized exchange, offering users fee discounts and serving as the gas token for its ￰10￱ Holds Strong as Altcoins Lag Despite Fed Rate Cut and End of QT The US Federal Reserve’s latest 25 basis-point rate cut unfolded as expected, sending Bitcoin briefly down to $109K.

However, the real market mover was the Fed’s confirmation that quantitative tightening (QT) will end in December, signaling the return of liquidity that could fuel risk ￰11￱ say this could set the stage for an “alt season ,” though past patterns show such optimism often fades ￰12￱ IN: Fed Chair Jerome Powell says President Trump's tariffs are causing "higher overall inflation." ￰13￱ — ￰14￱ (@WatcherGuru) October 29, 2025 In 2024, the first rate cut triggered a strong rally, but it fizzled by September, only to be reignited by Trump’s election victory later that ￰15￱ those bursts of momentum, most altcoins have failed to reclaim their 2021 highs, while Bitcoin remains the only asset consistently trending ￰16￱ tokens like ETH, SOL, and XRP remain more than 40% below their peaks, showing a market still in a consolidation ￰17￱ view the current market as a reset rather than a crash, where liquidity is shifting rather than ￰18￱ and XRP both appear to be stabilizing, with record futures open interest near $3 billion each on CME. 9.9K XRP futures contracts traded on October 27, a new ￰19￱ regulated XRP futures and options ￰1￱ — CME Group (@CMEGroup) October 29, 2025 Levels & Events to Watch Next At the time of writing, Bitcoin trades at $109,295, down 0.68% on the ￰20￱ coin has been consolidating after failing to sustain momentum above $112,000 earlier this ￰21￱ now, BTC’s intraday range sits between $108,800 and $110,200, suggesting a cautious market tone.

A breakout above $111,800 could trigger a move toward $114,500 and potentially $118,000, where previous resistance zones ￰22￱ the downside, failure to hold current support could open the door to $107,500, followed by a stronger support area around $105,000. Meanwhile, Ethereum trades at $3,865, down 0.99% in the past 24 ￰23￱ coin has been hovering near the $3,850–$3,900 zone after slipping from its weekly high near $4,100. If ETH breaks above $3,950, it could attempt to retest $4,200 and then $4,400, where selling pressure has repeatedly capped rallies. However, a drop below $3,800 may lead to a deeper pullback toward $3,650–$3,700 in the short term.

Meanwhile, market sentiment has tilted slightly more bearish, with the Crypto Fear and Greed Index falling to 34 , signaling “Fear.” The index was at 39 yesterday and 43 a month ago, indicating a steady decline in confidence as traders remain cautious amid price ￰24￱ shift reflects ongoing uncertainty in the market, with participants holding back from aggressive positions while awaiting clearer signals from macroeconomic ￰25￱ US Bitcoin spot exchange-traded funds (ETFs) saw a sharp reversal on Wednesday, recording $470.7 million in outflows, according to data from ￰26￱ total cumulative net inflow now stands at $61.87 billion, with total net assets valued at $149.98 billion, representing 6.75% of Bitcoin’s market ￰27￱ the funds, Fidelity’s FBTC led the outflows with $164.36 million, followed by Ark & 21Shares (ARKB) with $143.8 million, and BlackRock’s IBIT with $88.08 million.

Grayscale’s GBTC also saw $65.01 million leave the ￰28￱ US Ethereum spot ETFs also recorded $81.44 million in outflows on ￰29￱ total cumulative net inflow now stands at $14.65 billion, while total net assets are valued at $26.60 billion, representing 5.58% of Ethereum’s market ￰30￱ the nine ETFs, BlackRock’s ETHA was the only major fund to post gains, taking in $21.36 ￰31￱ contrast, Fidelity’s FETH saw the largest outflow at $69.49 million, followed by Grayscale’s ETHE with $12.83 million and Grayscale’s ETH with $16.18 ￰32￱ contrast, the US Solana spot ETFs recorded $47.94 million in net inflows on ￰33￱ total cumulative net inflow now stands at $117.40 million, with total net assets reaching $432.29 million, representing 0.40% of Solana’s market ￰34￱ the two listed ETFs, Bitwise’s BSOL led with $46.54 million in inflows, while Grayscale’s GSOL added $1.40 ￰35￱ trading volume across both funds was $79.50 million for the day.

Meanwhile, Australian financial intelligence agency, AUSTRAC, slapped a AU$56,340 fine (US$37,085) on crypto ATM operator CryptoLink on ￰36￱ action comes after the regulator’s Crypto Taskforce, established last year, found late reporting of large cash transactions and “weaknesses” in CryptoLink’s AML ￰37￱ has sent an infringement notice to the crypto ATM operator CryptoLink for late reporting of large transactions and weaknesses in the AML framework. #AUSTRAC #CryptoATM #CryptoLink ￰2￱ — ￰38￱ (@cryptonews) October 30, 2025