Bitcoin drifts around the $110K zone as altcoins reel and traders recalibrate
Key takeaways
- Bitcoin is trading around $110K extending a short-term pullback from recent highs and showing renewed vulnerability near key support. As of 10:00 a.m., 24 October, Bitcoin is trading at $110,982, up 2.18% in the last 24 hours.
- ETH is near the high-$3k zone at $3,920, while SOL, XRP, DOGE, and many other top cryptos are trading in the green, reflecting a broader risk-off tone across crypto.
- The overall crypto market cap is at $3.71T, up 1.60% in the last 24 hours. This also brings the Fear and Greed Index to 32, a 4-point increase from yesterday.
- The “Uptober” optimism has run into headwinds as on-chain metrics and institutional flows show more of a corrective posture than a sustained breakout.
Macro factors at play
- Interest-rate and inflation outlook: Sticky inflation and cautious central-bank guidance are delaying rate-cut expectations, pressuring risk assets, including crypto. Macro commentary and central-bank commentary remain a dominant background risk.
- Geopolitics tensions: Renewed U.S.–China trade friction, including new export controls and a series of high-level meetings this week, is amplifying risk-off moves in markets. The diplomatic calendar (meetings and summit noise) is keeping directional conviction low.
- Regulatory backdrop: The FSB’s recent thematic review highlighted significant gaps and the fragmented adoption of global crypto rules, a reminder that regulatory uncertainty remains a tangible hindrance to institutional adoption.
Support and resistance
Resistance:
- $111,600 – $112,200 → Short-term barrier; a breakout could push toward $114K–$116K.
- $113,700 → Key resistance from moving averages.
- $116,120+ → Major level; clearing this could open the way to $120K+.
Support:
- $107,200 – $108,100 → Immediate support where buyers are defending.
- $104,700 → Stronger support if price dips further.
- $102,700 → Last major support before revisiting $100K.
Market context: Bitcoin is trading between $108K and $112K, waiting for a clear breakout. Above $112K could signal a move higher; below $108K may bring a pullback.
What to watch
- ETF/institutional flows: spot-Bitcoin ETF flows remain a key short-term driver. A reversal from outflows into sustained inflows could trigger a faster risk-on rotation.
- Macro datapoints and DXY/real yields: Upcoming inflation prints, Fed commentary, and moves in the U.S. dollar (DXY)/real yields will materially affect crypto’s risk premium.
- Regulatory headlines: Any sudden enforcement action or clearer stablecoin/market rules would shift institutional risk appetite quickly.
- Ecosystem events: Targeted catalysts like major airdrops, protocol upgrades, and new exchange listings can spark renewed interest in select altcoins. The Solana ecosystem, for instance, has been buzzing with activity and fresh airdrop speculation, developments that could trigger capital rotation into specific tokens.
- Major infrastructure moves: The recently announced FalconX–21Shares acquisition marks a significant step in crypto’s institutional buildout. This consolidation strengthens prime-brokerage and ETF infrastructure, laying the groundwork for deeper institutional participation and potentially greater capital flows into exchange-traded and managed crypto products.
Market outlook
The crypto market is currently in a consolidation phase, not a strong new uptrend. Bitcoin seems to be stabilizing, while several altcoins like ETH, SOL, and XRP are showing recoveries. Traders should manage risk carefully and focus on event-driven setups like changes in ETF flows or major project updates rather than chasing short-term momentum.
Top gainers
Date: 24 Oct. 2025, 10:00 a.m.
Top losers
Date: 24 Oct. 2025, 10:00 a.m.
