Bitcoin has cooled after a record run, trading in the mid-80,000s. At 1:57 PM, BTC was up 0.29% from the previous day at 87,042, while Ethereum rose 2.91% to 2,919.87. Ripple, Dogecoin, and Solana traded mixed, down 0.82%, up 0.50%, and down 0.62%, respectively.
Over the past week, the major assets slid sharply: BTC down 5.93%, Ethereum down 10.01%, XRP down 9.79%, Dogecoin down 10.43%, and Solana down 10.48%. Investor sentiment cooled, with CoinMarketCap’s fear-and-greed index at 21, indicating fear, though slightly higher than the year’s Extreme Fear reading. Bitcoin peaked at 126,198 on Oct. 7 but has since drifted into the 80k–90k zone and failed to reclaim the 90,000 level. Bloomberg said BTC could post its weakest quarter since Q2 2022, due in part to deleveraging and softer sentiment.
Analysts note that large option expiries for late October may amplify downside volatility, with about 23 billion USD in options exposure, much of it tied to Deribit open interest. ETF outflows continue to challenge price stability, with roughly 4.3 billion USD pulled from crypto ETFs last month, including 3.2 billion from Bitcoin funds. Despite the dour backdrop, some see upside if tightening ends in the first half of next year and broader asset markets rally; liquidity dynamics could drive gains even without a halving-driven cycle. Projections place BTC in the 140,000–170,000 USD range as demand and capital flows realign, potentially positioning it as a store of value alongside the dollar and gold.
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