Why Is Crypto Up Today? – October 23, 2025

The crypto market is up today, with the cryptocurrency market capitalization increasing by 1.3%, now standing at $3.8 trillion. 80 of the top 100 coins have appreciated over the past 24 ￰1￱ the same time, the total crypto trading volume is at $190 billion. TLDR: The crypto market capitalization is up by 1.3% on Thursday morning (UTC); 80 of the top 100 coins and all top 10 coins appreciated today; BTC is up by 1.7% to $109,789, and ETH rose 0.3% to $3,875; Investors await the US CPI index on Friday, which may suggest market direction; There are signals of ‘demand exhaustion and fading momentum’; ’Both on-chain and options data suggest a cautious, transitional phase’; US BTC and ETH spot ETFs both saw outflows on Wednesday of $101.29 million and $18.77 million, respectively; 87-year-old traditional asset manager ￰2￱ Price filed its first crypto ETF; Crypto market sentiment sits firmly within the fear ￰3￱ Winners & Losers At the time of writing, all top 10 coins per market capitalization have seen their prices increase over the past 24 ￰4￱ (BTC) increased by 1.7% since this time yesterday, currently trading at $109,789.

Bitcoin (BTC) 24h 7d 30d 1y All time Ethereum (ETH) is up by 0.3%, meaning that it’s largely unchanged over the past day, now changing hands at $3,875. The highest rise in the category is 3.2% by Binance Coin (BNB) , now trading at $1,103. It’s followed by BTC, and then Solana (SOL)’s 1.3% to $186. The smallest adjustment is seen by Tron (TRX) .

It is currently unchanged, now standing at $0.3225. Looking at the top 100 coins, 80 are ￰5￱ these, 3 recorded double-digit ￰6￱ AI (COAI) appreciated the most by far: 70.4% to $13.96. It’s followed by Hyperliquid (HYPE) , which increased by 11.8% to $38.81, and Kinetiq Staked HYPE (KHYPE) , which rose by 11.6% to $38.97. On the other hand, Zcash (ZEC) decreased the most: 9.8% to $243.46.

It’s followed by Provenance Blockchain (HASH)’s 6% drop to $0.03614. Renewed volatility has reentered the digital assets space as the market awaits direction signals, especially as the recent $19 billion wipe-out in leveraged positions turned investors more cautious. Notably, many traders and investors are now waiting to see the US consumer price index report , which is set to come out on Friday, after initially being set for 15 October. They’re hoping to see any signals that would suggest near-term market ￰7￱ last three CPI releases coincided with local tops, each following a surge in bullish ￰8￱ data will be released this upcoming ￰9￱ consensus forecast is 3.1%.

What concerns me is that CPI has been rising for the past six months, and we are once again above 3%, even as the Fed has already started lowering interest ￰10￱ the data comes in above 3.1%,… ￰11￱ — Crypto | Stocks | Freedom (@Wealthmanagerrr) October 20, 2025 Moreover, investors were waiting for South Korea’s October interest rate ￰12￱ Thursday, the Monetary Policy Board of the Bank of Korea (BOK) kept its benchmark interest rate unchanged. ‘Fading Momentum and Growing Market Fatigue’ According to Glassnode’s latest report, BTC trades below the short-term holders’ cost basis and the 0.85 quantile, which suggests fading momentum and growing market ￰13￱ failures to reclaim the key levels raise the risk of a longer consolidation phase.

Therefore, the market may need “a longer consolidation phase to rebuild confidence and absorb the spent supply.” A Market Hedged in Fear Bitcoin trading below key cost basis levels signals demand exhaustion. Long-term holders are selling into strength, while rising put demand and higher volatility show a defensive ￰14￱ the full Week On-Chain below ￰0￱ ￰15￱ — glassnode (@glassnode) October 22, 2025 BTC has gradually moved away from its recent all-time high, stabilizing below the short-term holders’ cost basis of around $113,100. “Historically, this structure often precedes the onset of a mid-term bearish phase, as weaker hands begin to capitulate,” the analysts said.

Furthermore, the report noted that implied volatility remains elevated, and realized volatility has caught up, “ending the calm, low-volatility regime.” “Both on-chain and options data suggest a cautious, transitional ￰16￱ recovery is likely to hinge on renewed spot demand and easing volatility.” Also, the options market shows a “cautious tone” as well. “Despite record-high open interest, positioning leans defensive; put skew remains elevated, volatility sellers are under pressure, and short-term rallies are met with hedging rather than optimism,” says ￰17￱ report concludes that “together, these signals indicate a market in transition: one where exuberance has waned, structural risk-taking is subdued, and recovery will likely depend on restoring spot demand and mitigating volatility-driven flows.” Levels & Events to Watch Next At the time of writing on Thursday morning, BTC trades at $109,789.

For much of the day, the coin traded sideways until it fell to the intraday low of $106,786. Quickly, however, it surged to the day’s high of $110,162. Overall, BTC is down 1.3% in a week, 3.1% in a month, and 12.9% from its all-time high of $126,080 recorded 17 days ￰18￱ price may now move above $113,500, followed by the $115,000 zone. Alternatively, if the market turns red, BTC may drop below $105,000 and move towards $100,000.

Bitcoin Price Chart.) 24h 7d 30d 1y All time Meanwhile, the crypto market sentiment has been sitting firmly in the fear zone for a full ￰19￱ crypto fear and greed index moved slightly from 29 yesterday to 28 today . It’s approaching the ‘extreme fear’ ￰20￱ current level signals rising apprehension among traders and ￰21￱ can easily result in heightened volatility and panic ￰22￱ said, it could also present a buying ￰23￱ Go Back To Red After a single day of inflows, the US BTC spot exchange-traded funds (ETFs) returned to negative flows on Wednesday, with $101.29 million leaving the ￰24￱ the 12 ETFs, two recorded inflows, and four saw ￰25￱ the top of the green list is BlackRock with $73.63 million, followed by Valkyrie’s $2.14 ￰26￱ highest outflow is Grayscale’s $56.63 million, but it’s closely followed by Grayscale and Ark&21Shares .

Similarly, after one day of positive flows, the US ETH ETFs recorded $18.77 million in outflows on 22 ￰27￱ of the nine finds saw positive flows, and three saw negative ￰28￱ took in $110.71 million, while Fidelity and Grayscale saw similar amounts leave, between $33 million and $47 million. Meanwhile, the 87-year-old global traditional asset management firm ￰29￱ Price has filed its first crypto ETF , saying it plans to invest in a “diversified basket of commodity crypto assets.” Eric Balchunas, a senior ETF analyst at Bloomberg, expressed “semi-shock” over this move. “Did not expect it but I get it,” he wrote. “There’s gonna be land rush for this space too.” Point is that legacy asset managers are quickly trying to figure out how to implement some semblance of a crypto strategy… A number of these firms actually missed out on ETF ￰30￱ want to avoid same mistake w/ ￰31￱ crypto goes away is *not* a good biz strategy. — Nate Geraci (@NateGeraci) October 23, 2025 Quick FAQ Why did crypto move against stocks today?

The crypto market has increased over the past day, and the stock market saw a drop during work hours on ￰32￱ the closing time on 22 October, the S&P 500 was down by 0.53%, the Nasdaq-100 decreased by 0.99%, and the Dow Jones Industrial Average fell by 0.71%. This happened as U. S.-China trade tensions resumed on ￰33￱ this rally sustainable? This October is somewhat more volatile than previously ￰34￱ drops are possible, but so are the ￰35￱ still expect to see a more significant rally in the near ￰36￱ may also like: (LIVE) Crypto News Today: Latest Updates for October 23, 2025 The European Union has approved a sweeping new package of sanctions against Russia, intensifying its economic campaign against Moscow’s war ￰37￱ measures, endorsed Thursday in Brussels, ban imports of Russian liquefied natural gas (LNG), tighten restrictions on banks and cryptocurrency exchanges, and impose new travel limits on Russian diplomats, according to a report by The New York ￰38￱ and EU Align on Russia Sanctions, Targeting Rosneft and LukoilThe decision...