The cryptocurrency market faced a brutal sell-off on October 21, with over $110 billion in market value wiped out in a matter of 0 total market cap plunged from around $3.75 trillion to $3.64 trillion, as panic selling swept across both Bitcoin ( BTC ) and major 1 market cap price chart.) tumbled 4.67% to $3,860, BNB (BNB) shed 5.13% to $1,067, while Solana ( SOL ) slumped nearly 5% to $184. XRP fell 2.71% to $2.40, extending losses after recent ETF speculation 2 is the crypto market crashing? The sell-off comes against the backdrop of the ongoing 3 shutdown, now in its third week, which has paralyzed the 4 more than 90 crypto ETF applications, including Solana and XRP funds, frozen in limbo, institutional inflows have dried 5 data shows Bitcoin ETF inflows fell to $146.18 billion, down sharply from $159.48 billion last week, eroding one of the asset’s strongest demand drivers.
On-chain signals also point to 6 data highlights that long-term Bitcoin holders wallets holding BTC for over a year, reduced their supply by 0.8% in October, offsetting institutional 7 dynamic has created a supply overhang, as veteran investors lock in profits while ETF demand alone fails to absorb the selling 8 Bitcoin’s ability to cling to $107,000 underscores ongoing institutional dip-buying at lower levels. What’s next for Bitcoin? The key battle is around $107,00 support. A decisive break lower could see Bitcoin tumble to $105,000, sparking broader deleveraging across 9 are closely monitoring two catalysts.
One, a 10 shutdown resolution, a restart of SEC operations would revive ETF approval timelines. Second, whether institutional demand returns strongly enough to absorb profit-taking by long-term 11 now, the market remains on edge, with the Fear and Greed Index at 33 (Fear), reflecting investor caution as macro and regulatory headwinds collide with fragile market sentiment.
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