October 24 market overview: During weekend trading, price briefly fell to 79,221, its lowest since September 18, breaking below the October 15 low before recovering to close at 80,888. It closed below the range floor for a third straight day. Altcoin BMT gained 68% against the Korean won on Upbit.
【Market】
- 「$BTC 80,888」−0.37%; high 81,214 (the 08:00 hour Beijing time), low 79,221 (the 23:00 hour). The perpetual futures intraday low was 79,179, breaking below the October 15 perpetual low of 79,732.
- The close was 1,675 below the range floor of 82,563, marking a third consecutive daily close below it and the 11th such day this month.
- Price action: It moved sideways in a narrow 80,500–81,000 range during the day. The first wave of selling began at 22:10 Beijing time; a second wave from 23:00 to 23:20 drove price to around 79,300, before it rebounded to close at 80,900.
- Full-day liquidations: $243 million in longs / $35.6 million in shorts. Long liquidations totaled $134 million and $80.7 million in the 22:00 and 23:00 hours, respectively. BTC: $75.9 million in longs / $6.9 million in shorts.
- Perpetual open interest was 95,166 coins, up 1,900 on the day, with an intraday high of 96,295. After about 4,700 coins were deleveraged over the previous two days, open interest rose rather than fell after the decline. Funding rates were slightly positive and near zero across all three periods.
- Fear & Greed Index: 54, neutral, versus 51 previously. Kalshi’s October rate-hike probability was about 7%, down from 9% the previous day.
- Binance stock contracts traded as usual over the weekend: MSTR −1.1%, Nvidia +0.5%, Micron +0.5%, QQQ −0.1%. Equities were essentially unchanged.
【Altcoins】
- Of 55 USDT pairs with more than $5 million in trading volume, the median move was −1.31%; 12 rose and 43 fell. Two gained more than 5%, while six fell more than 5%.
- 「$ETH 2,358.8」−1.2%, SOL −0.5%, XRP +0.4%, BNB +0.1%, DOGE −1.2%, HYPE −0.6%, ZEC +2.1%, LINK −1.7%, SUI −2.3%, NEAR −4.1%.
- 「BMT +68.2%」: At 10:35 Beijing time on the 24th, Upbit announced the listing of a Korean won trading pair for BMT (Bubblemaps). At 11:00, it announced a trading event involving 6 million BMT.
- Other top gainers: INIT +6.3%, ERA +3.8%, ZRO +3.2%. Top decliners: ARK −17.6%, GTC −12.0%, PHA −9.7%, ALT −8.4%. The causes could not be verified, so no attribution is made.
【What to watch】79,732 was briefly breached intraday before price recovered. If the October 25 close falls below that level, the next reference point is the September 18 intraday low of 76,296. Open interest added 1,900 coins after the drop, while funding rates did not rise, suggesting the new positions may not be chasing longs. The Asian market open on Monday, October 26, will be the first test. After three consecutive closes below the 82,563 range floor, it is shifting from support to resistance.
【Market】
- 「$BTC 80,888」−0.37%; high 81,214 (the 08:00 hour Beijing time), low 79,221 (the 23:00 hour). The perpetual futures intraday low was 79,179, breaking below the October 15 perpetual low of 79,732.
- The close was 1,675 below the range floor of 82,563, marking a third consecutive daily close below it and the 11th such day this month.
- Price action: It moved sideways in a narrow 80,500–81,000 range during the day. The first wave of selling began at 22:10 Beijing time; a second wave from 23:00 to 23:20 drove price to around 79,300, before it rebounded to close at 80,900.
- Full-day liquidations: $243 million in longs / $35.6 million in shorts. Long liquidations totaled $134 million and $80.7 million in the 22:00 and 23:00 hours, respectively. BTC: $75.9 million in longs / $6.9 million in shorts.
- Perpetual open interest was 95,166 coins, up 1,900 on the day, with an intraday high of 96,295. After about 4,700 coins were deleveraged over the previous two days, open interest rose rather than fell after the decline. Funding rates were slightly positive and near zero across all three periods.
- Fear & Greed Index: 54, neutral, versus 51 previously. Kalshi’s October rate-hike probability was about 7%, down from 9% the previous day.
- Binance stock contracts traded as usual over the weekend: MSTR −1.1%, Nvidia +0.5%, Micron +0.5%, QQQ −0.1%. Equities were essentially unchanged.
【Altcoins】
- Of 55 USDT pairs with more than $5 million in trading volume, the median move was −1.31%; 12 rose and 43 fell. Two gained more than 5%, while six fell more than 5%.
- 「$ETH 2,358.8」−1.2%, SOL −0.5%, XRP +0.4%, BNB +0.1%, DOGE −1.2%, HYPE −0.6%, ZEC +2.1%, LINK −1.7%, SUI −2.3%, NEAR −4.1%.
- 「BMT +68.2%」: At 10:35 Beijing time on the 24th, Upbit announced the listing of a Korean won trading pair for BMT (Bubblemaps). At 11:00, it announced a trading event involving 6 million BMT.
- Other top gainers: INIT +6.3%, ERA +3.8%, ZRO +3.2%. Top decliners: ARK −17.6%, GTC −12.0%, PHA −9.7%, ALT −8.4%. The causes could not be verified, so no attribution is made.
【What to watch】79,732 was briefly breached intraday before price recovered. If the October 25 close falls below that level, the next reference point is the September 18 intraday low of 76,296. Open interest added 1,900 coins after the drop, while funding rates did not rise, suggesting the new positions may not be chasing longs. The Asian market open on Monday, October 26, will be the first test. After three consecutive closes below the 82,563 range floor, it is shifting from support to resistance.
