What to Know
- The crypto market rose 2.2% over the past day to $2.76T.
- Total crypto market capitalisation returned to its 50 day moving average, a level closely watched by technical traders.
- Bitcoin traded near $82K after buyers stepped in during a move below $80K.
- Bitcoin avoided a close below its 50 day moving average, keeping its broader bullish trend intact for now.
- Only two of the top 100 coins were lower over the past 24 hours, showing broad participation in the rebound.
- Among liquid tokens, Basic Attention Token gained 16.9%, Aptos rose 11.7%, Bitcoin advanced 1%, and Tron added 0.6%.
- Standard Chartered 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.
- Hacken data showed crypto project hack losses reached $1.18 billion over the past three months.
Crypto Buyers Return After a Weak Stretch
The crypto market has regained momentum after a difficult first half of the month, with total capitalisation rising 2.2% over the past day to $2.76T. The move brought the market back to its 50 day moving average, a technical zone that often acts as a dividing line between improving and deteriorating sentiment. For many chart watchers, reclaiming that average does not guarantee a sustained advance, but it does suggest that buyers are no longer waiting passively on the sidelines.
The rebound came as bargain hunters became more active late on Thursday across a wide range of financial markets. That broader improvement matters for crypto because digital assets often respond to shifts in risk appetite. When investors become more comfortable holding growth oriented or volatility sensitive assets, Bitcoin and major altcoins can benefit from the same change in tone. The latest move shows that crypto traders are again willing to buy weakness, especially after several sessions that tested confidence.
Seasonality may also be playing a role in market psychology. In traditional finance, October has a reputation as a month that can end bear markets, while crypto traders have long used the term Uptober to describe the month’s historical association with renewed strength. That reputation does not remove market risk, and it should not be treated as a forecast on its own. Still, it can influence positioning when prices begin to stabilise near widely followed support levels.
Bitcoin Holds the Line Near $80K
Bitcoin was not the strongest performer over the past day, but its price action remained important for the broader market. The leading cryptocurrency traded around $82K after once again drawing buyers during a dip below $80K. That reaction reinforced the significance of the $80K area as a psychological and technical support zone. When a market repeatedly attracts demand near a specific level, traders often interpret that behaviour as evidence that larger buyers are defending the trend.
Bitcoin also avoided a close below its 50 day moving average, which continues to serve as a support reference for the current uptrend. A decisive break below that area would likely have damaged confidence, especially after the market’s earlier weakness. Instead, Bitcoin held firm enough to keep bullish traders engaged, even while its 1% gain lagged the stronger moves seen in several altcoins.
The global backdrop also leaned in favour of buyers. Increased bond purchases, a weaker dollar, and a rally in key US indices on Thursday helped improve the risk environment. For Bitcoin, these macro signals can matter because the asset is often sensitive to liquidity conditions and investor appetite for risk. A softer dollar can also reduce pressure on assets priced against it, while strength in major equity indices may encourage more constructive sentiment across speculative markets.
Altcoin Breadth Strengthens the Rebound
The most notable feature of the latest crypto recovery was its breadth. Only two of the top 100 coins declined over the past 24 hours, indicating that buying was not concentrated solely in Bitcoin or a narrow group of large tokens. Broad participation tends to be viewed more positively by market participants because it suggests that sentiment is improving across the ecosystem rather than depending on a single asset.
Among the more liquid cryptocurrencies, Basic Attention Token gained 16.9%, while Aptos rose 11.7%. Bitcoin advanced 1%, and Tron added 0.6%. The wide gap between the strongest altcoins and Bitcoin highlights a common pattern in crypto rebounds: once Bitcoin stabilises, traders often rotate toward higher beta assets that can move more sharply during risk on sessions. That rotation can support overall market capitalisation, although it can also increase volatility if sentiment turns again.
The market’s behaviour resembled a coordinated shift from caution to risk appetite. After a general decline, cryptocurrencies moved higher across the board, suggesting that traders who had been waiting for confirmation began buying at nearly the same time. This type of collective turn can be powerful in the short term, especially when it occurs near a major moving average and after a period of discouraged sentiment.
Stablecoin Growth Outlook Slows
Beyond price action, crypto industry developments also shaped the day’s narrative. Standard Chartered Bank revised its growth forecast for the stablecoin market over the next two years and now expects stablecoin market capitalisation to reach $2T only by 2030. The adjustment reflects a slowdown in token supply growth linked to weaker activity in the crypto market.
Stablecoins are a critical part of digital asset infrastructure because they are widely used for trading, settlement, liquidity management, and transfers between venues. Slower supply growth can signal reduced trading intensity or less demand for on chain liquidity. At the same time, stablecoins remain deeply embedded in crypto market structure, and expectations for long term expansion continue to depend on institutional adoption, regulatory clarity, and broader usage of tokenised payment rails.
VanEck Pulls Staked Ethereum ETF Application
Asset management firm 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 is significant because staking linked products remain a sensitive area for regulators and institutions.
Liquid staking tokens allow users to maintain exposure to staked assets while retaining transferable tokens that can be used elsewhere in the crypto ecosystem. For institutions, however, products tied to staking can raise additional questions around yield generation, custody, liquidity, and regulatory treatment. VanEck’s withdrawal does not end institutional interest in Ethereum based products, but it shows that the path for staking related exchange traded products remains complex.
Ripple Expands Institutional RWA Products
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 launch places Ripple more directly into one of the crypto industry’s fastest developing themes: the tokenisation and trading of traditional market exposure through digital asset infrastructure.
Real world asset products aim to connect conventional markets with blockchain based settlement, collateral, and trading systems. Institutional demand for these products remains tied to liquidity, compliance, market access, and operational reliability. Ripple’s move shows that major crypto firms continue building infrastructure beyond spot token trading, even as market activity cycles between expansion and slowdown.
Security Losses Remain a Major Concern
Security risks remain a serious challenge for the digital asset sector. Hacken data showed that losses from hacks on crypto projects reached $1.18 billion over the past three months. The largest reported 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 why security remains central to institutional confidence. Market rallies can improve sentiment quickly, but major losses from hacks can undermine trust in exchanges, protocols, bridges, and lending platforms. For traders and long term participants, operational security is now part of market analysis, not a separate issue. Strong price action may attract capital, but weak security can drive it away just as quickly.
Gold Versus Bitcoin Debate Returns
The debate between Bitcoin and gold also resurfaced after Peter Schiff, head of Euro Pacific Capital and a long standing crypto sceptic, argued that gold has a much better chance of increasing tenfold over the next five years than Bitcoin. In his view, the first cryptocurrency could even crash entirely if demand for it falls. His comments reflect a familiar divide between traditional hard asset advocates and supporters of digital scarcity.
Bitcoin bulls typically argue that the asset benefits from fixed supply dynamics, global accessibility, and growing recognition as an alternative store of value. Critics counter that Bitcoin’s value depends heavily on market demand and risk appetite. The latest rebound does not resolve that debate, but it does show that buyers remain active when Bitcoin tests major support. For now, the market is treating $80K as an important line in the sand.
Market Outlook: Bulls Regain the Psychological Edge
The crypto market’s return to its 50 day moving average gives bulls a stronger short term argument, but the next phase still depends on follow through. A rebound driven by bargain hunting can fade if buyers fail to maintain pressure, especially after a period of disappointing price action. However, the combination of broad altcoin participation, Bitcoin’s defence of $80K, and a more supportive macro backdrop has improved the tone.
Technical traders will be watching whether total market capitalisation can remain around the reclaimed moving average and whether Bitcoin can continue closing above its own 50 day trend marker. If those conditions hold, confidence may continue to rebuild. If they fail, the latest advance could be viewed as another short lived relief move. For now, the crypto market has found buyers, and that is enough to shift sentiment away from fear and back toward cautious optimism.
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, helping total crypto capitalisation climb 2.2% to $2.76T.
What level did Bitcoin defend?
Bitcoin attracted buyers during a move below $80K and later traded around $82K, keeping attention on the $80K area as a key support zone.
Why is the 50 day moving average important?
The 50 day moving average is widely watched by technical traders because it can help indicate whether short term momentum is improving or weakening.
Were altcoins part of the rebound?
Yes. Only two of the top 100 coins were lower over the past 24 hours, while tokens such as Basic Attention Token and Aptos posted stronger gains than Bitcoin.
What did Standard Chartered say about stablecoins?
Standard Chartered revised its stablecoin outlook and now expects stablecoin market capitalisation to reach $2T only by 2030, citing slower token supply growth tied to weaker crypto activity.
What happened with VanEck’s Ethereum staking ETF plan?
VanEck withdrew its application to register the VanEck Lido Staked Ethereum ETF, which was intended to track stETH, an Ethereum liquid staking token through Lido.
What did Ripple launch for institutions?
Ripple launched perpetual real world asset swaps through Ripple Prime for institutional clients, covering more than 100 reference markets across several traditional asset categories.
How large were recent crypto hack losses?
Hacken data showed that crypto project hack losses reached $1.18 billion over the past three months, with major losses reported at Bitget, Liquid Network, and Tectonic.
Is the crypto rebound confirmed as a lasting uptrend?
Not yet. The rebound improves sentiment, but traders will still watch whether Bitcoin holds above key support and whether the broader market can stay near its 50 day moving average.