Crypto Market Rebounds: BTC, ETH Surge as SNX Leads Altcoin Rally

I. Crypto Market Overview

Key Takeaways

Macro Environment

Renewed US-China trade tensions and new tariffs triggered a sharp global sell-off, erasing $550 billion from crypto markets. The Federal Reserve's first rate cut since 2024 signals further easing, potentially boosting crypto liquidity. Stablecoin supply hit a record $301.5B, indicating robust buy-side liquidity for BTC and ETH.

Crypto Market

The crypto market rebounded after a sharp sell-off, with BTC up 2.97% at $114,806 and ETH surging 7.85% to $4,125.89, driven by strong ETF inflows and record stablecoin liquidity. Synthetix (SNX) led gains, soaring 131.3%, while Story (IP) and Bittensor (TAO) rose 28.9% and 28.2% respectively, fueled by DeFi upgrades and AI narratives.

Today's Outlook

No major token unlocks or high-impact events are scheduled for today, suggesting market focus will remain on macroeconomic sentiment and post-crash recovery dynamics.

Fear and Greed Index

80.00% Annual Percentile

31 Fear

Total Crypto Market Cap

$3.90T

4.63%

Total Market Trading Volume

$286.62B

40.65%

Altcoin Season Index

33.33%

Quarterly Percentile

41 / 100

Total Futures Market Open Interest

3.72B

9.84%

Futures

1.10T

16.01%

Perpetuals

II. Industry Updates

Macro-economic Policies

The US dollar surged as renewed US-China trade tensions and new tariffs triggered a flight to safety, causing a sharp drop in global equities and a $550 billion decline in crypto market capitalization.

The Federal Reserve made its first interest rate cut since 2024, signaling further easing amid a stalling US job market, which may support risk assets and increase liquidity in crypto markets.

India's CPI inflation fell to an eight-year low of 1.54% in September, driven by food deflation, potentially allowing the Reserve Bank of India to shift focus toward growth and consider a rate cut, which could boost capital flows into digital assets.

The US Bureau of Labor Statistics confirmed the September CPI report will be released on October 24 despite the government shutdown, with the data expected to influence the Federal Reserve's upcoming policy decision and impact crypto market volatility.

A record $301.5 billion in stablecoin supply was reached as of October 13, signaling expanding buy-side liquidity and potential upward momentum for BTC and ETH amid heightened macroeconomic uncertainty.

Cryptocurrency Regulatory Trends

UK Reform Party leader proposed crypto deregulation, including a 10% capital gains tax and a Bitcoin reserve at the Bank of England, aiming to boost London's status as a global crypto hub. This could enhance investor confidence and attract institutional capital.

Russia authorized banks to engage in cryptocurrency business under strict regulations, signaling a major shift in its financial policy. This move may increase institutional participation and legitimize crypto activities in the Russian market.

Dubai unveiled a new financial strategy making virtual assets a core pillar, targeting 3% of GDP contribution. The Virtual Assets Regulatory Authority reported a surge in trading volumes and AUM, reflecting growing regulatory support and market expansion.

GoTyme Bank in the Philippines launched a crypto trading feature for select users, following regulatory approval as a Virtual Asset Service Provider. This increases crypto accessibility while highlighting the country's dual regulatory framework for digital assets.

Synthetix (SNX): SNX surged 131% in 24h to $2.26 with $1.1B volume, driven by protocol upgrades and renewed DeFi interest, making it the top gainer.

Story (IP): IP jumped 29% in 24h to $7.06, fueled by increased BNB Chain activity and community engagement on its charity and NFT storytelling platform.

Bittensor (TAO): TAO rose 28% in 24h to $411.67 with $661M volume, as AI token narratives and decentralized machine learning demand accelerated market inflows.

Smart Money Movements

MARA Holdings purchased 400 BTC worth $46.31 million via FalconX, increasing its total Bitcoin holdings to 52,850 BTC, valued at $6.12 billion.

Strategy (formerly MicroStrategy) acquired 220 BTC for $27.2 million at an average price of $123,561, raising its total Bitcoin holdings to 640,250 BTC.

The Smarter Web Company expanded its Bitcoin treasury by 100 BTC, investing £9.08 million, bringing total holdings to 2,650 BTC valued at £219.57 million.

BitMine Immersion Technologies increased its Ethereum holdings by 20 ETH, reaching a total of 3,032,188 ETH, and also holds 192 BTC and $135 million in Eightco Holdings shares.

A Bitcoin whale opened a $200 million short position on BTC with 20x leverage, adding 400 BTC to reach a total of 1,823.41 BTC, with an unrealized profit of $4.86 million.

Events to Watch

Oct 15 (Wed)

Ethereum options worth $2.1B will expire; STRK and SEI tokens unlock, potentially impacting market volatility.

Oct 16 (Thu)

Arbitrum (ARB) unlocks 92.65M tokens ($30.69M); SEC to announce decision on Solana ETF, which may affect SOL price.

Oct 17 (Fri)

Eurozone inflation data release may influence global markets; Apecoin (APE) unlocks 15.6M tokens ($6.75M).

Oct 18 (Sat)

Fasttoken (FTN) unlocks 20M tokens ($40.2M); SEC deadline for six spot XRP ETF decisions, critical for XRP market.

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