📃 Oct 24, 2026 – ASIA Cryptocurrency Market 8h Daily Trend Forecast

Crypto Market Analysis & Trend: Trending Down

The crypto market is clearly trending down, with major assets seeing significant price and capitalization declines. Bitcoin’s price dropped 3.66% to $81,320.44 by late October 22, while its market cap fell 3.26% to $1.63 trillion by early October 23. Ethereum mirrored that move, with its price down 3.83% to $2,383.59 and capitalization shrinking 3.40% to $291.55 billion. This broad market weakness points to negative investor sentiment.

Investor sentiment has clearly shifted from greed to fear. Alternative.me and Milkroad.com both reported the Fear and Greed Index dropping 18 points, from 68pt (Greed) on October 22 to 50pt (Greed/Neutral boundary) on October 23. Coinstats.app showed an even sharper move, with its index falling from 54pt on October 22 to 46pt (Fear) by late October 23. This rapid shift in sentiment tracks with the recent price depreciation, signaling growing caution.

Significant outflows from Bitcoin ETFs are adding to the downward pressure. News reports from October 23 show Bitcoin’s price dipping below $82K after $635 million left spot ETFs. This institutional selling pressure clearly indicates reduced demand through these investment vehicles. Even with Switzerland approving its first spot Bitcoin ETF for retail investors that day, and Franklin Templeton moving closer to launching two Bitcoin DRIP ETFs on Nasdaq, these positive developments haven’t yet countered the immediate impact of the outflows and broader negative sentiment.

Trading volumes on most major exchanges also fell on October 23. Binance saw a 1.70% drop to 108,696, Coinbase was down 4.22% to 20,005, and Crypto.com took a substantial 13.89% hit, falling to 8,313. This reduced trading activity, combined with falling prices, suggests buyers aren’t stepping in to counter the selling. Bitcoin’s mining hash rate also plunged 15.26% on October 23, dropping to 894.48B GB. This decline in computational power could mean miners are reacting to lower profitability in a falling market.

With consistent price and capitalization declines, a clear shift in the Fear and Greed Index toward fear, and confirmed Bitcoin ETF outflows, the market is likely to keep trending down for the next 8 hours. These combined factors mean immediate upward momentum is unlikely without a major catalyst to reverse current sentiment and selling pressure. Volatility has also picked up, with Bitcoin’s 24h volatility at 4.25% and Ethereum’s at 5.18% by late October 22, making short-term price stability even harder.

What is important

The crypto market is currently in a downturn, with major assets seeing notable price and market capitalization declines. Bitcoin’s price fell 3.66% to $81,320.44 by late October 22, and its market cap dropped 3.26% by early October 23. Ethereum and other altcoins are showing similar patterns.

Investor sentiment has swung from ‘Greed’ to ‘Fear,’ as the Fear and Greed Index dropped significantly on October 23. This shift partly stems from substantial Bitcoin ETF outflows, totaling $635 million, which signals institutional selling pressure.

Even with positive developments like Switzerland approving a spot Bitcoin ETF and Franklin Templeton pushing its own ETF plans forward, these are currently overshadowed by negative market forces.

Top 5 – Latest Headlines & Cryptocurrency News

👎 Bitcoin price falls below $82K as spot ETFs see $635M in outflows
– Bitcoin´s price has declined today, largely attributed to significant outflows from Bitcoin ETFs. This trend suggests a shift in investor sentiment and potential market correction. The outflows indicate a decrease in demand for Bitcoin through these investment vehicles, impacting its overall market value.

👎 Trump, World Liberty Financial Sued by Circle Investor Over Alleged $2 Billion UAE Crypto Windfall: ´No…
– Donald Trump is reportedly involved in a lawsuit concerning the World Liberty Financial Circle, which is alleged to be a cryptocurrency scam. The lawsuit claims that Trump´s image and name were used to promote the fraudulent scheme, potentially misleading investors. This legal action highlights concerns about celebrity endorsements and their impact on cryptocurrency investments.

👍 Switzerland approves first spot Bitcoin ETF for retail investors
– Switzerland has approved its first spot Bitcoin ETF, making it accessible to retail investors. This landmark decision by the Swiss Financial Market Supervisory Authority (FINMA) is seen as a significant step for cryptocurrency adoption in Europe. The ETF will be listed on the SIX Swiss Exchange, offering a regulated avenue for individuals to invest in Bitcoin.

👎 Colombian Police Dismantle $42M Crypto Drug Laundering Ring
– Colombian police have dismantled a significant cryptocurrency drug laundering ring, seizing approximately $42 million in assets. The operation targeted individuals using digital currencies to launder money generated from illicit drug trafficking activities. This action highlights the ongoing challenges law enforcement faces in combating crypto-enabled financial crimes.

👍 Franklin Templeton moves closer to launching two Bitcoin DRIP ETFs on Nasdaq
– Franklin Templeton is reportedly nearing the launch of two Bitcoin-related exchange-traded funds (ETFs) on the Nasdaq. This move signifies a significant step for traditional finance entering the digital asset space, potentially increasing accessibility and legitimacy for Bitcoin investments.

Factors Driving the Growth – Market Sentiment

Recent keyword analysis shows a mixed but mostly cautious market sentiment. ‘Cryptocurrency’ and ‘bitcoin’ are the most talked-about terms, appearing 20 and 16 times positively, and 24 and 9 times negatively, respectively. Positive keywords like ‘self-custody’ (10 mentions), ‘adoption’ (5), and ‘bitcoin etf’ (5) suggest underlying interest in market infrastructure and institutional integration. Mentions of ‘franklin templeton’ (4) and ‘nasdaq’ (4) further reinforce traditional finance’s engagement with crypto. On the flip side, negative keywords such as ‘investors’ (7), ‘lawsuit’ (7), ‘price’ (7), ‘ethereum’ (6), ‘bitcoin etfs’ (5), ‘novatech’ (5), and ‘outflows’ (5) directly point to current market concerns, legal disputes, and price depreciation, especially around ETF movements and fraud allegations. The higher negative frequency for ‘cryptocurrency’ suggests a prevailing negative tone in recent news.

Positive Terms – Sentiment Analysis

Negative Terms – Sentiment Analysis

Crypto Investor Fear & Greed Index

The Fear and Greed Index shows a clear shift toward fear. On October 23, Alternative.me and Milkroad.com both reported the index at 50pt, an 18-point drop from the 68pt recorded on October 22. This moves sentiment from a clear ‘Greed’ phase right to the ‘Neutral’ or ‘Fear’ boundary (50-74pt is greed, 25-49pt is fear). Coinstats.app data backs this trend, showing a drop from 54pt on October 22 to 46pt by late October 23, firmly putting the market into ‘Fear.’ This consistent downward movement across multiple sources signals a collective rise in market apprehension over the past 24 hours.

Bitcoin: Active Addresses

Bitcoin address indicators from bitaps.com show a continued expansion in total addresses, hitting 1,555,774,771 by late October 23. Zero Balance Addresses also climbed to 1,498,573,219 at the same time, keeping a consistent proportion to the total. Addresses holding over 0 BTC remained relatively stable at 541,163 on October 23. For specific balance thresholds, those holding over 0.001 BTC saw a slight 0.01% increase to 12,201,213, while addresses with over 0.01 BTC held steady at 8,275,002. Larger holders, like those with over 10 BTC, dipped a minor 0.01% to 129,647. Bitcoin Active Addresses data from btc.com showed 0 for August 8, 2026, suggesting no recent active address data from that source.

Economic events to move the cryptocurrency market

Several moderate-impact economic events were on the calendar for October 23. These included Consumer Sentiment data releases at 14:00:00, covering Year-ahead Inflation Expectations, the Consumer Sentiment Index % Change, the Consumer Sentiment Index Change, and the overall Consumer Sentiment Index. Also, the PMI Composite Flash Manufacturing Index, PMI Composite Flash Composite Index, and PMI Composite Flash Services Index were due at 13:45:00. While not directly crypto-specific, these traditional economic indicators can sway broader investor confidence and capital allocation across financial markets, potentially affecting crypto sentiment indirectly.

Crypto Assets Prices

Major cryptocurrencies saw price declines by late October 22. Bitcoin’s price fell 3.66% to $81,320.44, with its 24-hour variation at -3.30%. Ethereum dropped 3.83% to $2,383.59, and its 24-hour variation was -3.65%. Binance Coin also dipped 2.13% to $731.25, with a 24-hour variation of -2.02%. Volatility for these assets increased during the same period: Bitcoin’s 24-hour volatility rose 1.51% to 4.25%, Ethereum’s climbed 1.49% to 5.18%, and Binance Coin’s jumped 1.71% to 3.33%. These figures point to a general downward price movement paired with heightened market instability.

Cryptocurrency Capitalization and Volume

Market capitalizations for major cryptocurrencies fell on October 23. Bitcoin’s capitalization dropped 3.26% to $1.63 trillion, while Ethereum’s slid 3.40% to $291.55 billion. Ripple saw the largest percentage decline among tracked assets, with its capitalization down 4.10% to $82.56 billion. Binance Coin’s market cap also fell 2.04% to $96.08 billion. Tether, a stablecoin, held relatively steady with just a 0.11% decrease. Trading volumes were mixed: Bitcoin’s volume rose 3.81% to $33.34 billion, but Ethereum’s volume fell 7.05%, and Ripple’s volume saw a significant 19.41% reduction.

Cryptocurrency Exchanges Volume and Variation

Trading volumes across most major crypto exchanges fell on October 23. Binance, the largest by volume, saw a 1.70% drop to 108,696. Coinbase’s volume declined 4.22% to 20,005, and Crypto.com experienced a more substantial 13.89% decrease to 8,313. KuCoin’s volume was down 6.61% to 14,655, and OKX reported a 3.84% decrease to 23,180. Bitfinex stood out as an exception, with its volume surging 67.18% to 3,464. Bybit and Kraken showed relatively minor changes, with Bybit up 1.10% to 24,445 and Kraken down 0.63% to 15,515.

Mining – Blockchain Technology

Bitcoin mining difficulty held steady at 140.58T on October 23, after a 5.92% jump on October 22. Despite this stable difficulty, the network’s hash rate saw a significant 15.26% drop, falling to 894.48B GB on October 23 from 1.06T GB on October 22. Mined blocks showed a minor 0.01% increase to 972.67K, and the BTC reward per block stayed constant at 3.13. This substantial hash rate reduction suggests a decrease in computational power securing the Bitcoin network, possibly indicating miners are reacting to market conditions or profitability concerns.

Taking stock

The crypto market is currently facing significant downward pressure, driven by several converging factors. Price declines for major assets like Bitcoin and Ethereum directly track a major shift in investor sentiment, moving from ‘Greed’ to ‘Fear’ on the Fear and Greed Index. This isn’t just speculative; it’s rooted in tangible market events.

A primary driver of the recent downturn seems to be the substantial $635 million in outflows from Bitcoin ETFs on October 23. This institutional selling points to reduced demand through regulated investment vehicles, directly hitting Bitcoin’s price and, by extension, the broader market capitalization of other cryptocurrencies. The drop in trading volumes across most major exchanges further highlights this lack of buying enthusiasm.

While mining difficulty has held steady, Bitcoin’s hash rate notably dropped 15.26% on October 23, suggesting miners might be adjusting operations due to current market conditions. This could mean they’re concerned about profitability at lower price points. Although positive regulatory developments emerged, like Switzerland’s approval of a spot Bitcoin ETF and Franklin Templeton’s progress with its own ETF filings, their impact hasn’t been enough to counter the prevailing negative sentiment and selling pressure.

So What

Current market conditions demand heightened caution for anyone in crypto. The shift to ‘Fear’ on the Fear and Greed Index, combined with significant price drops for Bitcoin (3.66%) and Ethereum (3.83%) by late October 22, means the risk of further declines is high. Increased volatility, with Bitcoin’s 24h volatility at 4.25% and Ethereum’s at 5.18%, suggests price swings could become even more pronounced.

The $635 million in Bitcoin ETF outflows on October 23 signals institutional investors are cutting exposure, which could lead to sustained selling pressure. This isn’t just retail action; it’s a broader market adjustment. Plus, ongoing legal issues, including a lawsuit against World Liberty Financial, underscore the regulatory and fraud risks that keep hitting the industry’s reputation and investor confidence.

For those eyeing new positions, the current environment demands careful risk management. Existing holders might see further unrealized losses if the trend persists. The falling mining hash rate could also signal potential stress for miners, which can impact network security and supply dynamics down the line.

What next?

Over the next 8 hours, market participants should closely watch the Fear and Greed Index. A further drop below 46pt, as Coinstats.app showed by late October 23, would signal deepening fear and potentially more selling pressure. On the other hand, a rebound toward the 50pt mark could mean sentiment is temporarily stabilizing.

Keep a close eye on Bitcoin’s price action around the $81,320.44 level, its price on late October 22. A sustained break below this point could accelerate the downward trend. Conversely, a strong rebound and hold above this level might signal some buying interest emerging. Trading volumes on major exchanges like Binance and Coinbase will also be crucial; look for any significant volume spikes, especially if they come with price reversals, as this could signal a shift in market dynamics.

Any new reports on Bitcoin ETF flows will be key. Continued outflows would reinforce the negative trend, while a slowdown or reversal could offer a much-needed positive catalyst. Also, stay aware of any immediate market reactions to the moderate-impact economic events, like the Consumer Sentiment Index and PMI Composite Flash data, released on October 23, as these could sway broader investor confidence.

Disclaimer – Informational Content, Not Investment Advice

Content provided herein is solely for informational purposes and should not be construed as a recommendation, endorsement, or suggestion to engage in any form of investment activity. The information presented in this post is not intended to serve as financial, legal, tax, or investment advice.

About the Author: CryptoTrends Team

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