Why Is Crypto Down Today? – October 30, 2025

Why Is Crypto Down Today? – October 30, 2025

The cryptocurrency market is experiencing a downturn today, with the total market cap decreasing by 3.0% to $3.78 trillion, according to CoinMarketCap data. Concurrently, the 24-hour trading volume is at $192 billion, indicating a decrease in trading activity as most major cryptocurrencies are in the red.

TLDR:

The global crypto market cap has decreased by 3.0%, now at $3.78T.
Eight out of the top ten cryptocurrencies are down, alongside most major coins.
Bitcoin (BTC) has fallen 3.5% to $109,373, while Ethereum (ETH) decreased by 3.6% to $3,868.
The Federal Reserve's recent 25 basis-point rate cut and the end of quantitative tightening scheduled for December may lead to increased liquidity.
The Fear & Greed Index has dropped to 34, indicating "Fear."
Bitcoin ETFs saw $470.7 million in outflows; Ethereum ETFs experienced $81.44 million in outflows.
AUSTRAC has fined CryptoLink A$56,340 (approximately US$37,085) for failing to comply with anti-money laundering regulations.

Cryptocurrency Market Overview

As of now, eight of the top ten cryptocurrencies by market capitalization are showing losses over the last 24 hours.

Bitcoin (BTC) has decreased by 3.5%, trading at $109,373 and maintaining a market cap exceeding $2.18 trillion.

Ethereum (ETH) also fell by 3.6% to $3,868, while BNB (BNB) saw a slight drop of 0.5%, now at $1,107.

XRP (XRP) declined by 4.4% to $2.54, and Solana (SOL) slipped by 3.9%, now priced at $190.92.

The most significant drop in the top ten is from Dogecoin (DOGE), which sank 4.4% to $0.1872.

Amidst this overall decline, a few altcoins are making notable gains. Aurora (AURORA) skyrocketed by 65.1% to $0.08555, and Jelly-My-Jelly (JMJ) and Anvil (ANVL) recorded increases of 50.6% and 44.0%, respectively.

On the other hand, PepeNode (PNODE) and BlockchainFX (BFX) rank among the trending tokens, despite decreases of 19.7% and 5.7%, indicating sustained retail interest even amid market volatility.

Additionally, Swiss asset manager 21Shares has recently applied to the US Securities and Exchange Commission (SEC) to introduce a Hyperliquid (HYPE) exchange-traded fund (ETF), reflecting growing institutional interest in altcoin-related investment options.

This filing comes shortly after Bitwise’s own similar application for a Hyperliquid ETF, highlighting the intensifying competition among asset managers aiming to capture demand for decentralized trading products.

The HYPE token serves as the operational token for Hyperliquid’s decentralized exchange, providing users with fee discounts as well as acting as the gas token for its blockchain.

Bitcoin's Stability Amidst Altcoin Struggles Post-Fed Rate Cut

The US Federal Reserve has implemented a widely anticipated 25 basis-point rate cut, causing a slight dip in Bitcoin, which momentarily fell to about $109K.

Nevertheless, the major catalyst for the market seems to be the Fed's announcement that quantitative tightening (QT) will come to a close in December, signaling a return of liquidity which may benefit risk assets. Analysts believe this could potentially lead to an "alt season," although historical trends suggest that such enthusiasm can dissipate rapidly.

In 2024, the first rate cut prompted a robust market rally that eventually lost momentum by September, only to regain traction following Trump’s electoral success later that year.

Despite these fluctuations, many altcoins have not returned to their peak levels from 2021, while Bitcoin continues to show a consistent upward trend.

Major cryptocurrencies like ETH, SOL, and XRP remain over 40% below their all-time highs, illustrating a market still undergoing consolidation.

Analysts describe the current environment as more of a reset than a crash, where liquidity is being reallocated rather than being lost. Both Solana and XRP appear to be stabilizing, with record futures open interest around $3 billion each on the CME.

Key Levels and Upcoming Events to Monitor

At the time of this report, Bitcoin is trading at $109,295, reflecting a 0.68% decline for the day. It has been consolidating after failing to maintain momentum above $112,000 earlier in the week. Currently, BTC's trading range lies between $108,800 and $110,200, suggesting a cautious approach among traders.

A breakout above $111,800 could instigate a climb toward $114,500 and possibly $118,000, which are previous resistance points. Conversely, if it fails to maintain support, it could drop to $107,500, with more significant support around $105,000.

Ethereum is trading at $3,865, down 0.99% over the past day. It has been fluctuating around the $3,850–$3,900 area after retreating from a weekly high near $4,100.

Should ETH exceed $3,950, it could try to retest $4,200 and subsequently $4,400, where selling pressure has consistently limited advances. However, falling below $3,800 might lead to a more significant decline to the $3,650–$3,700 range in the short term.

Meanwhile, market sentiment has become slightly more negative, with the Crypto Fear and Greed Index dropping to 34, reflecting "Fear."

This index was at 39 yesterday and 43 a month ago, suggesting a steady decline in trader confidence as participants remain wary amid price fluctuations. This shift indicates an ongoing uncertainty in the market, with traders cautious to take aggressive positions while awaiting clearer indicators from broader economic developments.

The US spot Bitcoin ETFs experienced a substantial reversal on Wednesday, with $470.7 million in outflows as reported by SoSoValue.

With cumulative net inflows currently at $61.87 billion and total net assets valued at $149.98 billion, this accounts for 6.75% of Bitcoin's market cap.

Among the funds, Fidelity's FBTC faced the largest outflow with $164.36 million, followed by Ark & 21Shares (ARKB) at $143.8 million, and BlackRock's IBIT with $88.08 million. Grayscale's GBTC also reported an outflow of $65.01 million.

On the Ethereum front, spot ETFs in the US saw outflows totaling $81.44 million on Wednesday. The 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 capitalization.

Among the nine Ethereum ETFs, BlackRock's ETHA was the only one to report gains, attracting $21.36 million. In contrast, Fidelity's FETH underwent the largest drop with $69.49 million, followed by outflows from Grayscale’s ETHE and ETH totaling $12.83 million and $16.18 million, respectively.

In contrast, the US Solana spot ETFs experienced net inflows of $47.94 million on Wednesday. The cumulative net assets now stand at $432.29 million, accounting for approximately 0.40% of Solana’s market cap with total cumulative inflows amounting to $117.40 million.

Among the two listed Solana ETFs, Bitwise’s BSOL led the inflows with $46.54 million, while Grayscale’s GSOL added $1.40 million, with total trading volume combining for $79.50 million on that day.

In regulatory news, the Australian financial intelligence agency AUSTRAC has imposed a fine of AU$56,340 (approximately US$37,085) on crypto ATM operator CryptoLink this Thursday.

This fine was a result of the Crypto Taskforce's findings, which uncovered late reporting of significant cash transactions and deficiencies in CryptoLink's anti-money laundering protocols.