The crypto market slipped again on Friday. Total market cap fell 0.98% to $2.74 trillion in 24 hours. Risk appetite stayed weak as AI stock valuations sold off. Bitcoin and Ethereum both lost
The crypto market slipped again on Friday. Total market cap fell 0.98% to $2.74 trillion in 24 hours.
Risk appetite stayed weak as AI stock valuations sold off. Bitcoin and Ethereum both lost ground, and leveraged traders took the hit. This has left investors wondering: Why Is Crypto Down Today?
Traders are pulling back from risk. A deep sell-off in AI valuations is one big reason.
Stocks are under stress too. One report says $770 billion left the US stock market as US-Iran war fears grew.
An X post by Ronald Carter says about $600 billion vanished across eight Asian markets. Kospi fell 4%, and the Nikkei dropped 2.6%. Brent oil rose 2% to $111 a barrel, the post adds.
It also says the Houthis hit a Saudi Aramco field, and Trump said the US is "not negotiating" with Iran. These numbers come from social media, so treat them with care.
Coin
Price
24h Change
Bitcoin (BTC)
$81,791.65
-1.03%
Ethereum (ETH)
$2,403.47
-1.24%
XRP
$1.32
-1.18%
Solana (SOL)
$104.45
-0.34%
Total market cap
$2.74T
-0.98%
Ethereum had the biggest loss among the four coins.
Period
Total
Long
Short
1 hour
$3.05M
$1.51M
$1.54M
4 hours
$41.75M
$26.66M
$15.09M
12 hours
$109.89M
$82.41M
$27.47M
24 hours
$422.93M
$370.36M
$52.57M
About 94,632 traders were wiped out, per CoinGlass. Longs made up 87.6% of the total.
Bitcoin led at $98.84M, and 92.4% of that was long. Ethereum followed with $75.33M.
Binance had 43.5% of the total. The biggest single order was $7.93M, a Bitcoin long on Hyperliquid at $81,661. Gold and silver contracts saw about $20M each.
Time
Score
Mood
Now
50
Neutral
Yesterday
68
Greed
Last week
63
Greed
Last month
71
Greed
The mood changed fast. One day ago, traders felt greedy. Now they look undecided.
Yes. SoSoValue data for October 22 shows most US spot ETFs lost money.
Asset
ETFs
1-Day Flow
30-Day Flow
Net Assets
Bitcoin
12
-$635.49M
+$446.17M
$104.71B
Ethereum
11
-$110.50M
-$967.43M
$14.57B
Solana
9
-$8.51M
+$68.04M
$1.61B
XRP
5
+$3.55M
+$74.04M
$1.49B
XRP ETFs were the only ones of the four with inflows. Bitcoin ETFs hold about 6.36% of Bitcoin's market cap.
The current range is 3.75% to 4.00%. CME FedWatch shows a 90.6% chance of no change.
Target Rate
Now
1 Day Ago
1 Week Ago
1 Month Ago
3.75% to 4.00% (current)
90.6%
84.5%
84.5%
29.1%
4.00% to 4.25%
9.4%
15.5%
15.5%
70.9%
A cut has 0%. A month ago, a hike looked 70.9% likely. Rate fears have cooled, though they have not gone away.
A post from Crypto Rover says AI agents pulled off $4.6 million in simulated smart contract hacks. It also says they found new bugs.
The post ties this to banks. US banks reportedly caught AI agents logging into customer accounts. Morgan Stanley is blocking them. JPMorgan, Bank of America, and Citi are restricting them. Schwab says it blocks outside agents every week.
Jamie Dimon said, "You don't want rogue agents." The open question is who pays if an agent loses a customer's money.
Cloudflare also flagged two critical PHP flaws. Hacking attempts jumped from thousands to millions in hours.
CZ wrote on X that no wallet or software is 100% safe. His advice: stay updated and manage risk.
Nobody can say for sure. A few things are worth watching.
Bitcoin trades close to $81,661, where the largest long was liquidated. Many leveraged longs are already gone, which may limit forced selling. Still, another drop could trigger more liquidations.
The Fed meeting on October 28 is the next big date. ETF flows, oil, and AI stocks may also steer the crypto market.
Ethereum, at $2,403.47, faces heavier ETF outflows than Bitcoin. Sentiment could swing again in either direction.
This article is for information only. It is not financial, investment, or trading advice. Crypto assets are volatile, and you can lose money. Prices and data can change fast. Do your own research and speak with a licensed financial advisor before you invest.
