After a bright start to October, the cryptocurrency market has once again turned cautious. Renewed volatility has hit major digital assets, with traders becoming more selective after the early-month “flash crash” that wiped out over $19 billion in leveraged positions, the biggest single-day liquidation in crypto history.
Bitcoin, the world’s largest and most popular cryptocurrency, and was trading around $108,922 at the time of writing, according to Coinmarketcap. Ethereum, its closest rival, also fell by 3.57% in the same period.
According to the CoinSwitch Markets Desk, “BTC is steady around the $108K mark, awaiting a clear directional move. Uncertainty surrounding US–China trade discussions and the US government shutdown, now entering its fourth week, is keeping market activity measured.”
Other well-known cryptocurrencies like Cardano, Chainlink, Stellar, Avalanche, and Polkadot recorded weekly declines of 5.41%, 3.43%, 4.21%, 11.49%, and 6.50%, respectively.
Analysts say investors are avoiding excessive risk and preferring top-tier coins until the broader macroeconomic outlook becomes clearer.
The CoinDCX research team said, “The Bitcoin bulls are struggling to keep the price above the pivotal resistance at $108,000, which is essential for maintaining market momentum. Meanwhile, top cryptos like ETH, BNB, XRP, and SOL continue to trade above their support levels. However, market sentiment remains under fear as the BTC price carries a bearish potential.”
Market experts say traders should stay cautious until there’s greater clarity on global economic trends and inflation data.
Vikram Subburaj, CEO of Giottus.com, advised, “Into the CPI print, keep positions modest, avoid high leverage, and use staggered entries with a clear invalidation just below your key level. Prioritise liquidity and execution quality; favour BTC and ETH over high-beta alts until a clean reclaim above $110K confirms strength.”
Overall, the crypto market remains on edge, with investors treading carefully amid global uncertainties. Analysts suggest patience and disciplined trading until Bitcoin regains momentum above key resistance levels.
(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)