– Cryptocurrency market sees sharp bullish momentum on Oct. 21. – US spot Bitcoin ETFs record $477.2 million inflow, led by IBIT and ARKB. – Ethereum ETFs register $141.7 million net inflows the same day. – Bitcoin nears $114,000; Ethereum briefly surpasses $4,100. – Crypto market selloff: BTC at $108,000, ETH around $3,850. – $170 billion market selloff drops crypto market cap to $3.65 trillion. – Total crypto liquidations increase by 86%, reaching $651 million. – Bitcoin volatility index hits 95% for the third time in a month. – High volatility amid global macroeconomic uncertainty and US-China tensions.
The cryptocurrency market experienced significant bullish momentum on Oct. 21, driven by strong institutional interest.
- US-based spot Bitcoin ETFs saw a net inflow of $477.2 million, with major contributions from IBIT and ARKB.
- Spot Ethereum ETFs in the US also recorded $141.7 million in net inflows.
- Bitcoin neared $114,000, while Ethereum briefly crossed $4,100 at around 16:30 UTC.
- Selling pressure eased on Binance, leading to increased buying activity.
- Currently, BTC is at $108,000, and ETH is around $3,850.
Volatility and Liquidations
- A $170 billion selloff occurred, reducing the crypto market cap from $3.82 trillion to $3.65 trillion.
- The fear and greed index has been in the “fear” zone for ten days.
- Total crypto liquidations rose by 86% to $651 million, with $352.4 million in long positions and $298.5 million in short positions liquidated.
- Bitcoin volatility index reached 95%, indicating sharp market movements.
The high volatility reflects continued investor uncertainty due to macroeconomic tensions, notably between the US and China.