Bitcoin experienced significant price fluctuations in October, oscillating between $80,000 and $84,000. According to the Bitunix Token Pulse report for October 17–23, approximately 80% of the 300 largest tokens tracked lost value, with a median weekly return of -3.98%. In contrast, Bitcoin saw a decline of 0.71% during the same period.
Specific assets faced steeper losses, with Cardano, NEAR, and SUI dropping over 5%, while Starknet’s STRK fell by 39.2%. Institutional activity in US spot Bitcoin ETFs showed high volatility, with net flow swings reaching $1.16 billion between consecutive sessions. On October 19 and 21, inflows totaled $526.7 million and $524.8 million, followed by outflows of $635.6 million on October 22.
Market pressure is linked to shifting expectations regarding US interest rates and broader economic data. Bitcoin's performance also correlated with technology stocks, as the Nasdaq fell 2.6% on October 22. Additionally, Brent crude oil prices rose 6.8%, potentially impacting inflation forecasts. The Federal Reserve is scheduled to meet on October 27–28, followed by the release of the core PCE inflation report on October 29.
While some assets like Lighter’s LIT saw a 12.19% gain over seven days, the token subsequently dropped more than 11% within 24 hours. Current market data indicates that while buyers remain active near the $80,000 level, the frequent price reversals suggest a lack of sustained confidence for a broader rally.
