The crypto market is up today, though just barely, with the cryptocurrency market capitalization rising by 0.1%, now standing at $4.27 trillion. About 40 of the top 100 coins have dropped over the past 24 hours. At the same time, the total crypto trading volume is at $180 billion.
Crypto Winners & Losers
At the time of writing, 7 of the top 10 coins per market capitalization have seen their prices increase over the past 24 hours.
Bitcoin (BTC) is largely unchanged, having increased by 0.3%, currently trading at $121,793.
Ethereum (ETH) is down by 0.7%, now changing hands at $4,413.
The highest decrease on the list is XRP’s 1.2% to $2.82.
At the same time, the biggest gainer in the category is Solana (SOL), which is the only coin with a rise above 0.5%. It appreciated 2.1% to $224.
When it comes to the top 100 coins, 60 have seen increases, the highest of which is 32.8% by Zcash (ZEC), now trading at $178.71.
Mantle (MNT) also recorded a double-digit rise of 11.3% to $2.68.
Among the red coins, Plasma (XPL) decreased the most, with 8.7% to $0.7932.
Meanwhile, Coinbase has activated staking services for New York, USA, residents, allowing users to earn yields on Ethereum and Solana holdings for the first time. This follows approval from state regulators.
‘Tug-of-War Near Current Price Led to Setup Ripe for Amplified Swings’
According to the latest report by Glassnode’s analysts, Bitcoin hit a new ATH backed by strong ETF inflows and renewed mid-tier accumulation.
Additionally, the surge in institutional participation has lifted both price and market activity, while spot volumes hit multi-month highs as Q4 begins.
That said, “while on-chain and spot signals remain constructive, rising leverage and crowded call positioning suggest growing short-term fragility.”
Recent options flow data “reveal an active tug-of-war near current price levels,” resulting in a “setup ripe for amplified swings as the market navigates uncharted territory.”
“While momentum remains strong and sentiment remains constructive, positioning has become more crowded, suggesting that near-term volatility could remain elevated as markets digest this renewed optimism.”
The report concludes that, “signals outline a robust yet maturing uptrend, one that remains supported but increasingly sensitive to profit-taking and leverage resets as Bitcoin navigates price discovery.”
The Uptober Breakout
Bitcoin broke above the $114k–$117k supply zone to new highs near $126k, driven by strong ETF inflows and mid-tier accumulation. On-chain remains firm, though rising leverage adds short-term risk.
Read the full Week On-Chain below
https://t.co/OwLtCjxpZD pic.twitter.com/BGZdSiJ1m5
— glassnode (@glassnode) October 8, 2025
Levels & Events to Watch Next
At the time of writing on Thursday morning, BTC trades at $121,793. Earlier in the day, the price surged to the intraday high of $124,072, before dropping to the low of $121,432 and then recovering to the current price.
The seven-day range stands between $118,683 and $126,080. Also, BTC is down 3.5% from its all-time high of $126,080.
The coin seems to be in the consolidation phase now. If it moves above $124,000, it could retest the $126,300 level and continue towards $130,000. However, a drop below $117,400 could lead to $115,000.
Ethereum is currently trading at $4,413. Over the past day, it has traded mostly sideways within the $4,409–$4,544 range, but trending lower.
The price could now move below the $4,400 mark and towards $4,340, or could reverse course and push above $4,500 towards $4,650.
Notably, a record $10 billion worth of ETH, or 2.44 million ETH, stood in Ethereum’s validator exit queue on Wednesday, as stakers queued to withdraw their funds. Today, that number stands at 2.4 million ETH. The exit could influence the price of the coin.
Meanwhile, the crypto market sentiment – just like the market itself – is largely unchanged. The crypto fear and greed index rose slightly from 57 yesterday to 58 today.
It’s clear that investors are keeping an eye out for further signals that point to the direction the market will take near term.
BTC ETFs Back in Green, ETH ETFs Continue Steady
The US BTC spot exchange-traded funds (ETFs) are back in green. On Wednesday, these saw $440.73 million in inflows. The total now stands at $62.58 billion.
Of the 12 ETFs, three saw inflows, and none saw outflows. BlackRock, Bitwise, and Grayscale recorded $426.2 million, $13.43 million, and $1.09 million, respectively.
Moreover, the US ETH ETFs recorded the 8th day of inflows on 8 October with $62.05 million. The cumulative total net inflow is now at $15.09 billion, rising steadily.
One of the nine finds saw positive flows, and two saw negative flows. BlackRock took in $148.88 million, while Fidelity and Grayscale let go of $63.12 million and $16.72 million, respectively.
Meanwhile, multiple SOL ETF decisions are due by 10 October, the approval of which could fuel the price. The first Solana spot ETF was launched by REX-Osprey in July, as the first SEC-approved product with built-in staking rewards.
Speaking of SOL, Solana Digital Asset Treasury (DAT) company Helius is considering buying at least 5% of SOL, equivalent to more than $6 billion. Joseph Chee, who leads the SOL treasury strategy, noted that Hong Kong will be its second listing location.
Quick FAQ
- Why did crypto move against stocks today?
The crypto market has increased very slightly over the past day, while the stock market recorded a mixed picture on Wednesday, albeit with some notable increases. By the closing time on 8 October, the S&P 500 was up by 0.58%, the Nasdaq-100 increased by 1.19%, and the Dow Jones Industrial Average fellby 0.0026%. Therefore, the S&P 500 and Nasdaq marked new intraday and closing records.
- Is this rally sustainable?
This is a very minor increase, so much so that the market is overall unchanged. Further pullbacks are still possible before the next leg up.
The post Why Is Crypto Up Today? – October 9, 2025 appeared first on Cryptonews.
