The cryptocurrency market shook off weeks of October malaise, adding more than $130 billion in value over the past 24 hours to push total capitalization back to $3.89 trillion.
Bitcoin (BTC) led the charge, rising 3.05% to $114,984, at the time of publication. The move aligns with a broader 30-day gain of 5.31%, though the latest rally carried extra bite: it coincided with confirmation of a U.S.–China trade framework deal that paused threatened tariffs and rare-earth export curbs.
At the same time, futures markets are now pricing a 98.3% chance of a 25 basis-point Fed rate cut on October 29 after softer inflation readings. Reduced trade risk and a dovish Fed is a familiar recipe for upside, weakening the dollar and boosting the case for scarce digital assets.
Technically, Bitcoin has reclaimed its 50-day EMA near $114,176 and pierced the 23.6% Fibonacci retracement at $120,864, unleashing $319 million in short liquidations and spiking volumes more than 300% above average. The rally carried RSI to 53.8, leaving neutral room to run, but leveraged longs remain vulnerable with resistance looming around $116,000.
Altcoins see the biggest gains
Ethereum (ETH) outpaced Bitcoin, climbing 5.22% to $4,165 in the last 24 hours. Institutional flows have been stronger here, with ETH breaking above its 50-day EMA and confirming a double-bottom pattern at $3,700. RSI at 63.8 shows momentum remains bullish without flashing overbought, opening the door for a retest of $4,300 if macro tailwinds persist.
Elsewhere, BNB rose 2.71% to $1,155, while Solana (SOL) added 3.29% to $200, crossing the psychologically important $200 handle for the first time this month. XRP was the laggard, slipping fractionally to $2.62, weighed down by looming November unlocks and ETF speculation that has yet to materialize into flows.
The Fear and Greed Index ticked up to 42 (Neutral), reflecting cautious optimism but not yet the kind of exuberance that typically marks a top. The Altcoin Season Index remains deep in Bitcoin territory at 28, underscoring how much of the current rally is still BTC-led.
With the crypto market regaining $3.9 trillion capitalization, the narrative has shifted almost overnight. A fragile October dominated by tariff headlines and rate jitters has given way to a bullish cocktail of macro relief and technical conviction.
