Crypto Markets Today: Bitcoin Tests $110K as Traders ‘Sell the News’ on Fed Cut, U.S.-China Deal

Markets Teilen Diesen Artikel teilen Link kopieren X icon X (Twitter) LinkedIn Facebook E-Mail Crypto Markets Today: Bitcoin Tests $110K as Traders ‘Sell the News’ on Fed Cut, U.S.-China Deal Bitcoin slid to its $110,000 support as the broader crypto market shed $80 billion following the Federal Reserve’s interest-rate cut and a new U.S.-China trade agreement. Von Oliver Knight | Bearbeitet von Sheldon Reback 30. Okt. 2025, 12:00 p.m. Übersetzt von KI Traders "sold the news" following Fed cut (TheDigitalArtist/Pixabay modified by CoinDesk) What to know : The largest cryptocurrency’s retreat from $116,000 raises concerns of a lower high forming after its $126,000 record earlier this month. Futures open interest rose to $27.2 billion despite the sell-off, and funding rates normalized, signaling calm sentiment and resilient positioning. XRP and XLM led losses among majors, while TRUMP memecoin gained 6.8% on acquisition rumors, hinting at selective strength despite widespread declines. The crypto market experienced a "sell the news" reaction to the Federal Reserve's interest-rate cut and a U.S. trade deal with China, with bitcoin BTC $ 109,017.69 sliding back to the $110,000 level of support. Traders will now be wondering whether the recent high just shy of $116,000 will mark a lower high from the record $126,000 bitcoin hit the start of the month, which would indicate the etchings of a downtrend and a reversal. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . Bitcoin dominance ticked down a few basis points on Thursday to suggest that some altcoins are outperforming BTC despite market weakness being reflected across crypto majors. Derivatives Positioning By Saksham Diwan Despite yesterday's post-Fed news price drop in bitcoin, the BTC futures market shows strength: Open interest (OI) has slightly increased to $27.2 billion, confirming minimal liquidations and quick buyer re-entry. Crucially, the highly polarized funding rates have normalized, now trending neutral and close-to-flat across most venues. This signals underlying market resilience and a less volatile, more measured sentiment compared with the previous uncertainty. The BTC options market maintains a strong bullish lean, although short-term conviction has moderated. The implied volatility (IV) term structure still exhibits near-term backwardation before transitioning to long-term contango. The one-week 25-delta skew has dropped to 8% from 10% yesterday, but traders are still paying a significant premium for short-term call options. This reduced conviction is reflected in the 24-hour put-call volume ratio, which remains bullish at 55:44 in favor of calls. Coinglass data shows $821 million in 24 hour liquidations, with a 79-21 split between longs and shorts. BTC ($368 million), ETH ($188 million) and others ($52 million) were the leaders in terms of notional liquidations. Binance liquidation heatmap indicates $109,700 as a core liquidation level to monitor, in case of a price drop. Token Talk By Oliver Knight More than $80 billion was wiped off the total crypto market cap in the past 24 hours, as traders "sold the news" after the Fed's interest-rate cut and a trade deal between the U.S. and China. Bitcoin BTC $ 109,017.69 and ether ETH $ 3,854.92 , the two biggest cryptocurrencies, are both down 2.5% as they grapple with levels of support. XRP and XLM were the worst performing tokens out of the 20 largest, losing 3.5% and 3.3% respectively. Plasma XPL $ 0.3142 continues to make headlines for the wrong reasons, tumbling 14% in 24 hours to compound an overall loss of 81% since Sept. 28. One glimmer of optimism across the altcoin market was TRUMP, the memecoin backed by the U.S. president, which rose by 6.8% after reports emerged that Fight Fight Fight, the company managing the token, is planning to acquire U.S. fundraising platform Republic . TRUMP has now risen by 45% this week although at $8.40 it remains well below its record high of $45.47. Bitcoin dominance ticked down slightly from 59.3% to 59.0% , suggesting that some altcoins are outperforming bitcoin during this latest period of sell pressure. Crypto Markets Today Bitcoin tariff Federal Reserve Derivatives market analysis More For You OwlTing: Stablecoin Infrastructure for the Future By CoinDesk Research Oct 16, 2025 Commissioned by OwlTing Stablecoin payment volumes have grown to $19.4B year-to-date in 2025. OwlTing aims to capture this market by developing payment infrastructure that processes transactions in seconds for fractions of a cent. View Full Report More For You Circle’s USDC Overtakes Tether's USDT in Onchain Activity as Regulation Drives Shift: JPMorgan By Will Canny , AI Boost | Edited by Sheldon Reback 59 minutes ago USDC leapfrogged USDT in onchain activity as regulatory clarity pushes investors toward transparent and compliant stablecoins. What to know : JPMorgan said Circle Internet’s USDC overtook Tether’s USDT in onchain activity as investors favored regulated, transparent stablecoins. USDC’s market cap jumped 72% this year to $74 billion, more than double USDT’s 32% rise, driven by MiCA compliance and institutional adoption. While USDT still leads in emerging markets, JPMorgan said USDC’s regulatory model could set the standard for global stablecoin growth. 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