The week of Oct 21 to 27, opened under pressure as the broader crypto market struggled to follow through on previous rebounds: the global crypto market cap was reported around $3.65 trillion, down nearly 3 % in 24 h on Oct 21.
- Bitcoin (BTC) traded broadly in the $107K–111K range early in the week, hitting about $107,776 on Oct 21.
- Ethereum (ETH) was under similar pressure, trading in the high $3,800s, down ~3–4 % in a 24-h span around Oct 21.
- Altcoins broadly under-performed: major names such as Solana (SOL), XRP, and Cardano (ADA) each posted daily losses in the ~2–5 % range around that time.
- Mid-week sentiment improved slightly: by Oct 21 the Fear & Greed Index had ticked up to 34 (from 29) still in the “fear” zone, but showing that traders were inching back in.
- By the end of the week (Oct 27) bullish momentum returned: Bitcoin surged above $115,000, with price reported at ~$115,171, as optimism over easing U.S.–China trade tensions and upcoming U.S. inflation (CPI) data fed risk appetite.
- Despite the rebound, analysts flagged that the market is still in a consolidation phase “green for now, but not yet out of the woods”.
What drove the market this week
Firstly, the macro backdrop, after prior weeks of macro shocks (notably the tariff announcements) the market seemed to digest those risks and pivoted slightly back toward risk assets. The optimism about U.S.–China trade gave cryptos a tailwind.Followed by rotation & risk-management as the week saw reduced open interest and funding rates, suggesting many leveraged players had been flushed out during earlier shocks. Structure / micro-risk plays a part too although things looked calmer, the fact that altcoins lagged BTC & ETH, and the Fear & Greed Index remained stuck in “fear”, indicates the market is cautious. Any fresh shock could trigger outsized moves.
For more details: OneBullEx Crypto Weekly Recap: Tariff worries fade, but caution remains – OneBullEx Blog
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