Overview
- Bitcoin fell under $108,000 and breached its 200-day simple moving average near $109,380, a technical break that traders watch for further weakness.
- Major altcoins slid sharply, with ether down about 5% and large tokens like XRP, solana, dogecoin, and cardano losing roughly 5%–7% on the day.
- U.S.-listed bitcoin and ether ETFs recorded about $550 million in redemptions through Oct. 29, signaling investor caution, according to Bitget’s COO.
- Digital-asset-treasury activity added selling pressure, including ETHZilla’s disclosure that it sold roughly $40 million of ether to fund buybacks.
- Crypto-exposed equities declined alongside tokens, with Coinbase, MicroStrategy, Robinhood, Circle, Gemini, and miners trading lower, while bitcoin is on pace for its worst October since 2014.