What to Know
- The crypto market rose by 2.2% over the past day, lifting total market capitalisation to $2.76T.
- The market returned to its 50-day moving average, a level closely watched by technical traders for trend confirmation.
- Bitcoin traded at $82K after again attracting buyers during a dip below $80K.
- Bitcoin avoided a close below its 50-day moving average, keeping the broader bullish trend intact for now.
- Only two of the top 100 coins were lower over the past 24 hours, highlighting broad participation in the rebound.
- Among liquid coins, Basic Attention Token gained 16.9%, Aptos gained 11.7%, Bitcoin rose 1%, and Tron added 0.6%.
- Standard Chartered Bank now expects stablecoin market capitalisation to reach $2T only by 2030.
- VanEck withdrew its application to register the VanEck Lido Staked Ethereum ETF with the SEC.
- Ripple launched perpetual real-world asset swaps through Ripple Prime for institutional clients, covering more than 100 reference markets.
- Losses from crypto project hacks over the past three months reached $1.18 billion, with the largest reported losses tied to Bitget, Liquid Network, and Tectonic.
Crypto Buyers Return After a Difficult Start to the Month
The crypto market regained momentum over the past day, rising 2.2% to $2.76T as buyers stepped back into risk assets. The move brought total market capitalisation back to the 50-day moving average, a level that many technical traders treat as a useful marker for whether a market remains in an advancing phase or is beginning to lose momentum. The return to that area does not guarantee a sustained breakout, but it does show that buyers were willing to defend the market after recent weakness.
The latest rebound also arrived with a more constructive tone across wider financial markets. Bargain hunters became more active late on Thursday across a broad range of assets, while the crypto market followed with a sharp shift in breadth. Rather than a narrow rally driven only by the largest tokens, the move was visible across much of the market. Only two of the top 100 coins were down over the past 24 hours, a sign that risk appetite improved beyond the usual headline assets.
Seasonality may also be shaping sentiment. In traditional finance, October has a reputation as the bear market killer, while crypto traders often refer to the month as Uptober. That framing is not a trading signal on its own, and it does not remove the risk of renewed volatility. Still, after a discouraging first half of the month, the psychological advantage has shifted toward the bulls for now. The market’s broad turn from general decline to widespread gains suggests that traders were prepared to act quickly once support levels held.
Bitcoin Holds the Line Near $80K
Bitcoin remained one of the more modest performers during the rebound, gaining 1% while trading at $82K. Even so, its price action carried important technical significance. The leading cryptocurrency again found steady demand during a dip below $80K, indicating that buyers continue to view that area as important support. Just as importantly, Bitcoin avoided a close below the 50-day moving average, which has continued to act as support for the broader uptrend.
For technical traders, the ability to defend a key moving average during a pullback is often treated as a sign that the prevailing trend remains alive. Bitcoin’s slower gain compared with some altcoins may reflect its larger market size and the tendency for smaller tokens to move more sharply during short bursts of optimism. However, the fact that Bitcoin did not break down while broader market participation improved helped reinforce the idea that the latest bounce was not purely speculative noise.
The global backdrop also tilted in favour of buyers. Increased bond purchases, a weaker dollar, and a rally in key US indices on Thursday helped improve the environment for risk-sensitive assets. Crypto markets are not identical to equities or currencies, but they often respond to the same shifts in liquidity, risk appetite, and investor confidence. When broader markets stabilise and the dollar weakens, digital assets can benefit from a more supportive trading backdrop.
Altcoin Breadth Strengthens the Bullish Case
The most notable feature of the move was the breadth of the rally. The market behaved less like a collection of isolated token stories and more like a unified risk trade, with many assets reversing direction at the same time. Among more liquid coins, gains ranged from 16.9% in Basic Attention Token and 11.7% in Aptos to 1% in Bitcoin and 0.6% in Tron. Such a wide range of gains is typical when traders rotate into higher-beta tokens after confidence improves.
Broad gains can matter because they show that buying interest is not confined to one corner of the market. When only Bitcoin rises, traders often question whether the broader ecosystem is still under pressure. When altcoins join the move, especially across a large portion of the top 100, sentiment tends to look healthier. That said, large percentage moves in altcoins can reverse quickly, particularly when they are driven by short-term positioning rather than fresh fundamental catalysts.
The current setup leaves the market at an important point. A return to the 50-day moving average is constructive, but traders will likely want to see follow-through before treating the rebound as a confirmed continuation of the uptrend. If Bitcoin continues to hold above the defended support zone and the broader market maintains breadth, bullish sentiment may remain in control. If buyers fail to build on the rebound, the market could slip back into a more cautious range.
Stablecoin Growth Expectations Are Reined In
Beyond price action, developments in stablecoins highlighted the more uneven state of crypto activity. Standard Chartered Bank revised its growth outlook for the stablecoin market over the next two years and now expects stablecoin market capitalisation to reach $2T only by 2030. The adjustment was tied to a slowdown in token supply growth caused by weaker activity in the crypto market.
Stablecoins remain a central part of the digital asset ecosystem because they serve as trading collateral, settlement instruments, and on-chain liquidity tools. Slower growth in their supply can suggest that speculative activity is not expanding as quickly as previously expected. It can also reflect a market where participants are more selective, with liquidity concentrating in established assets and platforms rather than spreading aggressively across new trading venues.
The revised projection does not mean that the stablecoin market has lost relevance. Instead, it points to a more measured expansion path. For crypto traders, stablecoin supply trends are often watched as a rough gauge of available liquidity. If activity improves, stablecoin demand can rise. If trading conditions remain choppy, growth can slow as participants hold back from deploying capital across digital assets.
ETF Filing Withdrawn and Institutional Products Expand
In asset management news, VanEck withdrew its application to the SEC to register the VanEck Lido Staked Ethereum ETF. The proposed fund was intended to track the value of stETH, an Ethereum liquid staking token issued through the Lido protocol. The withdrawal highlights the regulatory complexity surrounding products tied to staking, liquid staking tokens, and yield-bearing crypto assets.
Meanwhile, Ripple announced the launch of perpetual real-world asset swaps through Ripple Prime for institutional clients. The products cover more than 100 reference markets, including equities, stock indices, exchange-traded funds, metals, energy, and currencies. The announcement reflects the continuing push to connect digital asset infrastructure with traditional financial markets through tokenised or crypto-native trading products.
Institutional demand for crypto-linked products remains highly selective. Firms continue to explore areas such as tokenised assets, derivatives, staking exposure, and settlement rails, but product development depends heavily on market demand, regulatory treatment, and operational risk. The combination of a withdrawn ETF filing and a new institutional swaps offering shows how uneven the next phase of crypto market structure remains.
Security Losses Remain a Major Risk
Security concerns also remain prominent. Losses from hacks on crypto projects over the past three months reached $1.18 billion, according to Hacken. The largest losses were suffered by the Bitget crypto exchange at $387 million, the Liquid Network at $120 million, and the Tectonic lending protocol at $120 million. These figures underline that security remains one of the most persistent challenges for the industry.
Large hack losses can weigh on confidence even during periods of rising prices. For investors, security incidents raise questions about custody, smart contract risk, exchange controls, and the resilience of crypto infrastructure. For institutions, these risks can influence how quickly they adopt digital assets and which service providers they are willing to use. A stronger market can attract attention, but sustained growth also requires confidence that assets and platforms can be protected.
The crypto market’s latest rally therefore comes with a mixed backdrop. Price action has improved, Bitcoin has defended an important support region, and altcoin breadth has strengthened. At the same time, slower stablecoin growth expectations, regulatory uncertainty around certain products, and large hack losses show that the market still faces significant structural tests. For now, buyers have regained control of the short-term narrative, but the next phase will depend on whether the rebound can hold above key technical levels.
Frequently Asked Questions (FAQs)
Why did the crypto market rise?
The crypto market rose as bargain hunters returned across a wide range of financial markets. Improved risk appetite, a weaker dollar, increased bond purchases, and a rally in key US indices helped create a more supportive backdrop for digital assets.
How much did the crypto market gain?
The crypto market gained 2.2% over the past day, lifting total market capitalisation to $2.76T and bringing the market back to its 50-day moving average.
Why is the 50-day moving average important?
The 50-day moving average is widely followed by technical traders as a trend gauge. When a market holds above it or returns to it after a pullback, traders may view that as a sign that bullish momentum remains possible.
What happened to Bitcoin near $80K?
Bitcoin attracted buyers during a dip below $80K and avoided a close below its 50-day moving average. That helped preserve the view that its broader bullish trend remains intact for now.
Why did some altcoins outperform Bitcoin?
Altcoins often move more sharply than Bitcoin when risk appetite improves because they can be more sensitive to shifts in speculative demand. In the latest move, Basic Attention Token gained 16.9% and Aptos rose 11.7%, while Bitcoin gained 1%.
What is the latest stablecoin market outlook?
Standard Chartered Bank now expects stablecoin market capitalisation to reach $2T only by 2030. The revised outlook reflects a slowdown in token supply growth linked to weaker activity in the crypto market.
What did VanEck do with its Ethereum staking ETF plan?
VanEck withdrew its application to the SEC to register the VanEck Lido Staked Ethereum ETF. The proposed fund was designed to track stETH, an Ethereum liquid staking token connected to the Lido protocol.
What did Ripple launch for institutional clients?
Ripple launched perpetual real-world asset swaps through Ripple Prime. The products cover more than 100 reference markets, including equities, stock indices, exchange-traded funds, metals, energy, and currencies.
How serious are recent crypto hack losses?
Losses from hacks on crypto projects over the past three months reached $1.18 billion. The largest reported losses included Bitget at $387 million, Liquid Network at $120 million, and Tectonic at $120 million.