Bitcoin tops $71K

Expert market comment from senior analyst Alex Kuptsikevich of the FxPro Analyst Team: Bitcoin tops $71K, about to retest highs
FxPro | 574 days ago

Market picture

Crypto market capitalisation regained another 5% in 24 hours, peaking earlier in the day at $2.7 trillion against a recent peak of 2.7 in mid-March and around $3 trillion at the end of 2021. The recovery is faster than before the decline, promising prospects for further growth.

Bitcoin has once again surpassed the psychologically important 71K. The main intrigue of the next few days is the ability to overcome the previous highs at $73.7K. Strengthening above $75K will make the growth scenario up to 95.5 workable. But until then, one should be prepared for a re-intensification of selling in the first cryptocurrency.

News background

According to CoinShares, investments in crypto funds fell by a record $942 million last week after two weeks of updating all-time highs in inflows. Investments in Bitcoin were down $904 million; Ethereum was down $34 million, and Solana was down $5.6 million. Investments in funds that allow for bitcoin shorts were down $4 million.

Goldman Sachs said there is growing client interest in cryptocurrencies, fuelled by the approval of spot bitcoin ETFs in the US. Demand is mainly coming from traditional hedge funds. However, the institution intends to reach a "broader paradigm of clients", including asset managers and banks and select cryptocurrency-focused companies.

Skybridge Capital founder Anthony Scaramucci advised bitcoin investors not to sell the cryptocurrency even if they are spooked by market volatility.

CommEX unexpectedly announced a complete shutdown on 10 May. Binance said the exchange "failed to fulfil its obligations" as part of a deal to sell the exchange's Russian business to it.

By the FxPro Analyst Team

FxPro
Type: NDD
Regulation: FCA (UK), SCB (The Bahamas)
read more
ATFX Market Outlook 22nd October 2025

ATFX Market Outlook 22nd October 2025

The U.S. Dollar Index climbed to a six-day high, buoyed indirectly by a weaker yen. Markets reacted to the election of conservative Sanae Takaichi as Japan’s first female prime minister, with speculation that fiscal expansion under her leadership could cloud the country’s interest rate outlook.
ATFX | 25 minutes ago
Gold plummets on profit taking

Gold plummets on profit taking

Gold drops as traders decide to lock profits ahead of US CPI data - Yen falls as Takaichi becomes Japan’s next Prime Minister - Pound slides as well after weaker than expected inflation - Wall Street participants digest earnings results
XM Group | 43 minutes ago
Gold Undergoes Correction Amid Divergent Forces

Gold Undergoes Correction Amid Divergent Forces

Gold prices face continued pressure from a resilient US dollar and expectations that the Federal Reserve will maintain its restrictive monetary policy stance. These headwinds have triggered a technical correction in the precious metal.
RoboForex | 2h 0min ago
EUR/USD Under Downward Pressure

EUR/USD Under Downward Pressure

The euro is facing sustained selling pressure, primarily driven by a robust US dollar. The greenback is being bolstered by rising Treasury yields and fading market expectations for an early start to the Federal Reserve’s easing cycle.
RoboForex | 23h 7min ago
Japanese bulls went to recharge

Japanese bulls went to recharge

For the first time in Japan, a woman has become prime minister. Takaichi’s position (stimulating the economy and lowering interest rates) has led to speculative buying in Japanese stocks
FxPro | 23h 34min ago