Relatively calm Bitcoin

Expert market comment from senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Relatively calm Bitcoin
FxPro | 567 दिनों पहले

Market picture

The crypto market rolled back another 0.9% in 24 hours to a capitalisation of $2.48 trillion - the lowest in a week and a half. Bitcoin reversed by the same amplitude, while there was no uniformity in dynamics among the top coins. Ethereum was unchanged for the day, remaining at $3300, Solana lost 3.1%, Dogecoin fell another 4%, BNB rose 4.2%, and Toncoin strengthened 0.3%. The Cryptocurrency Fear and Greed Index rolled back to 70, its lowest since 14 February.

Bitcoin ended Wednesday where it started the day, trading at $65.5K. Enthusiasts continue to buy back the first cryptocurrency on dips closer to $65K. On the other hand, Bitcoin's inability to rise is alarming, although the day before, we saw a weaker dollar and stronger stock indices, which is fuelling risk appetite.

The cryptocurrency market's lagging performance can easily be attributed to accumulated overbought conditions and wariness ahead of the monthly labour market report. At the same time, we regard the current weakness as consolidation within the bull market, almost excluding the risks of a long-term reversal.

News background

Spot trading volume on cryptocurrency exchanges reached $2.5 trillion in March, The Block calculated. That's the highest since November 2021. The record of $4.1 trillion was set in May 2021. The total trading volume of BTC futures contracts in March rose 86% to $2.5 trillion.

According to data compiled by Bloomberg, March was a record-breaking month in terms of spot bitcoin-ETF trading volume. The figure nearly tripled from the previous month, from $42bn to $111bn. According to SoSoValue, three exchange-traded funds from Grayscale (GBTC), BlackRock (IBIT) and Fidelity (FBTC) continue to dominate trading volume. Meanwhile, total outflows from GBTC have reached $15bn since launch.

The crypto market can expect an outflow of liquidity due to the renewed appeal of gold with speculative investors, suggested Eric Balchunas, an ETF expert at Bloomberg.

A US government-controlled wallet with 30,174 BTC initiated a transfer of about 2000 BTC to the Coinbase Prime platform address. Experts have allowed the sale of assets. Presumably, this is part of the assets seized from the Silk Road darknet marketplace.

MN Trading founder Michael van de Poppe said that "at the peak of bullish momentum", bearish narratives like the sale of bitcoins by US authorities have a "huge impact" on investor sentiment.

Regulatory questions directed to the SEC often need to be answered, suggesting a decline in the Commission's genuine engagement with the public, said Hester Pearce, the agency's commissioner.

By the FxPro Analyst Team

FxPro
प्रकार: NDD
विनियम: FCA (UK), SCB (The Bahamas)
read more
Defensive Demand Lifts Metals as Oil Surges on US Sanctions | 23rd October 2025

Defensive Demand Lifts Metals as Oil Surges on US Sanctions | 23rd October 2025

Global markets traded cautiously as geopolitical tensions resurfaced. Gold eased below $4,250 but held support on risk-off sentiment, while silver climbed above $48.50 on mixed industrial and defensive demand. Oil surged past $60 after US sanctions on Russian energy firms sparked supply concerns. The Dollar steadied near 99.00 amid optimism on a US–China trade deal.
Moneta Markets | 2घंटे 11 मिनट पहले
Renewed tensions keep risk appetite under wraps

Renewed tensions keep risk appetite under wraps

Sanctions and tariffs are back in the spotlight; Risk markets retreat as sentiment softens; Gold struggles to recover; oil jumps, flirts with $61 level; Dollar remains bid; yen suffering might have legs;
XM Group | 2घंटे 58 मिनट पहले
The British Pound Extends Its Losses

The British Pound Extends Its Losses

The pound remains on the back foot against the US dollar, pressured by growing market conviction that the Bank of England (BoE) will sustain its accommodative monetary policy stance for longer than the US Federal Reserve.
RoboForex | 4घंटे 8 मिनट पहले
Inflation in Focus as Traders Eye BoE’s Next Move | 22nd October 2025

Inflation in Focus as Traders Eye BoE’s Next Move | 22nd October 2025

Markets traded cautiously as investors awaited UK inflation data, a key driver for the Bank of England’s next move. The Pound held firm ahead of CPI, oil extended gains on improving demand, and the US Dollar stayed soft. Broader sentiment was steady as easing US–China trade tensions balanced inflation-driven uncertainty.
Moneta Markets | 1 दिन पहले