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Bitcoin remains above $112,000 even with ETF withdrawals of more than $326 million.
Solana rises 0.45%, one of the select top cryptos in the positive zone.
Bhutan embraces Ethereum for a national ID program, a huge blockchain milestone.
Crypto prices today present a mixed picture as Bitcoin remains steady at over $112K despite significant ETF outflows and weekend-induced volatility. Most major altcoins experience mild declines, but Solana is a lone gainer. In the meantime, Bhutan's use of Ethereum for a national ID system provides a silver lining to an otherwise conservative crypto market outlook. Let’s explore what happened in the crypto market today based on CoinMarketCap data.
Crypto prices today indicate Bitcoin at $112,456.69, lower by 0.77% in the past 24 hours. It has a market cap of $2.24 trillion and a trading volume of over $91 billion.
CoinDCX Research Team noted, “The investors appear to have become slightly pessimistic about Bitcoin, as the price once again marked an intraday low below crucial support at $110,000. Although the bulls have triggered a recovery, the bearish clouds continue to hover over the BTC price rally.”
Ethereum price is at $4,117.44, down by 0.07%. The second-largest cryptocurrency has a market capitalization of $496.97 billion with a daily trade volume of $66.65 billion.
Solana price is one of the handful of gainers among the leading cryptocurrencies, trading at $203.51 with a 0.45% jump. SOL's market capitalization reaches $111.26 billion with $12.6 billion in daily trade volume.
XRP price has fallen 1.16% to trade at $2.50, ranking as the fifth-largest cryptocurrency with a market cap of $150 billion. The token demonstrates strong trading activity at $7.61 billion in daily volume.
BNB dipped 2.20% to $1,212.29, while Dogecoin is trading at $0.2039 with a 0.66% decline. TRON (TRX) fell 0.28% to $0.3179, and Cardano (ADA) dropped 1.28% to $0.6982.
CoinDCX Research Team commented, “No major change is seen with the altcoins, as the prices of ETH, BNB, XRP, SOL, DOGE & ADA remain consolidated within their respective predefined ranges. Aster leads the top gainers for the day with over 2.7% rise, followed by Monero with 2.49% and Bittensor & Zcash with over 1% each. On the other hand, Artificial Superintelligence Alliance drops by over 14.23%, followed by SPX6900 with over 10% and MYX Finance with 9.33%.”
Also Read: Crypto Prices Today: Bitcoin Holds Above $113,000, Ethereum Nears $4,000, Solana Leads Gainers
Tether (USDT) and USD Coin (USDC) hold their pegs, trading at $1 and $0.9999, respectively. The stablecoins' total market cap surpassed $256 billion. The minimal movement is offering liquidity in a volatile market.
The cryptocurrency market comes under pressure after a major weekend collapse, which prompted record liquidations. US spot Bitcoin and Ethereum exchange-traded funds saw huge outflows of over $755 million on October 13, indicating investor worries about market stability.
Bitcoin ETFs alone experienced a net outflow of $326.52 million. Fidelity's Bitcoin fund had an outflow of $93.28 million, and Grayscale's Bitcoin Trust had a $145.39 million outflow. Other top funds, such as Ark 21Shares, and Bitwise Bitcoin ETF, also had substantial daily outflows. BlackRock's iShares Bitcoin Trust, however, had an inflow of $60.36 million, indicating some ongoing institutional demand.
Ethereum ETFs also experienced even greater outflows of $428.52 million on October 13. BlackRock's Ethereum Trust had the largest one-day outflow of $310.13 million, after Grayscale and Fidelity's Ethereum funds suffered losses. The outflows indicate the market's response to the weekend price volatility.
In significant crypto news, the US Department of Justice recently filed a forfeiture complaint for 127,271 Bitcoin which equates to about $14.4 billion. Bitcoin is related to a criminal case against Chen Zhi, the founder of Prince Holding Group in Cambodia, who has been charged with ‘pig butchering’ crypto investment fraud schemes.
The US government now possesses the Bitcoin and will pursue permanent forfeiture in the event Zhi is convicted in federal court. If accepted, this would be one of the biggest contributions to the US strategic Bitcoin reserve since President Donald Trump ordered the establishment of the national crypto reserves by executive order in March.
The Treasury Department Office of Foreign Assets Control has also imposed sanctions on Zhi's business and those associated with it. The case demonstrates the government's increasing interest in monitoring and confiscating crypto assets based on fraudulent schemes.
CoinDCX Research Team explained, “Fed Chair Powell, in his latest speech, hinted at a potential rate cut while cautioning about a rise in inflation due to tariffs and trade policies. Congressman Troy Downing introduces a bill to codify Trump’s executive order on cryptos. S&P Global Ratings partnered with Chainlink to bring its stablecoin stability assessment on-chain for real-time stablecoin risk data access. Financial service company Stripe now supports subscription payments in stablecoins. Meanwhile, Celsius secured a $299.5 million settlement from Tether, ending a year-long $4.3 billion court battle.”
Bhutan is shifting its self-sovereign ID system from Polygon to Ethereum, an important adoption of blockchain by a national government. The South Asian country's close to 800,000 citizens will be able to verify their identities and receive government services through the system.
The President of the Ethereum Foundation attested to the completion of the integration, with the completion of the migration of all resident credentials by the first quarter of 2026. This is a world first for Ethereum in being used to power a national identity system, leveraging blockchain's security, transparency, and privacy capabilities.
Also Read: Crypto News Today: Ethereum ETFs See $429M Outflow, Ripple Launches $200K Bounty, Solana’s KRW Stablecoin, Bhutan Adopts Ethereum ID
Crypto prices today are an indication of sustained market uncertainty as investors digest recent volatility. Short-term ETF outflows notwithstanding, overall cumulative inflows are at $62.44 billion for Bitcoin ETFs, and overall net assets stand at $157.18 billion. The prospective $14 billion Bitcoin infusion into US reserves may offer future price support.
1. Why is the crypto market down today?
The crypto market declined on massive ETFs outflow after a weekend crash. Investors took profits amidst volatility, resulting in huge withdrawals from Bitcoin and Ethereum ETFs worth $755 million.
2. What is the Bitcoin price today?
Bitcoin is trading at $112,456, down by 0.77% in 24 hours. It holds strong market dominance with a capitalization exceeding $2.24 trillion and a trading volume of more than $91 billion.
3. Why did Solana's price rise while others fell?
Solana increased 0.45% to $203.51 on the back of increasing institutional appetite for its fast-performance blockchain for DeFi and AI use cases. Its regular ecosystem updates keep drawing long-term investors.
4. What do ETF outflows imply for crypto investors?
ETF outflows suggest short-term bearish sentiment as institutional investors pull funds. However, they don’t always signal long-term weakness, many traders view such dips as buying opportunities before rebounds.
5. What’s next for the crypto market this week?
Experts expect continued volatility as markets digest ETF data and macroeconomic cues. If ETF inflows recover and Bitcoin sustains above $110,000, the overall crypto market could stabilize by next week.
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