The Crypto Market Is Attracting Buyers Again

Last Updated on 19/10/2026

Market Overview

The cryptocurrency market climbed 2.2% to $2.76 trillion over the past 24 hours, supported by renewed bargain hunting across financial markets late Thursday. The recovery pushed total crypto market capitalisation back above its 50-day moving average, signalling improving bullish momentum. October is often known as a “bear market killer” in traditional finance, while crypto investors have dubbed the month “Uptober” because of its historical association with market gains.

Against this backdrop, bullish sentiment appears to be gaining the upper hand despite a disappointing first half of October. This shift in momentum has lifted most digital assets, with only two of the top 100 cryptocurrencies recording losses over the past day. Among highly liquid tokens, gains ranged from 16.9% for Basic Attention Token (BAT) and 11.7% for Aptos (APT) to 1% for Bitcoin (BTC) and 0.6% for Tron (TRX). The market has undergone a sharp reversal, moving from widespread selling pressure to a broad-based recovery.

Bitcoin underperformed much of the broader market over the past 24 hours. Trading near $82,000, the leading cryptocurrency attracted renewed buying interest after briefly falling below $80,000. This demand helped BTC avoid closing beneath its 50-day moving average, a technical level that continues to provide support for the broader uptrend.

The wider financial environment has also become more favourable for risk assets. Increased bond buying, a weaker US dollar and Thursday’s rally in major US equity indices have helped improve market sentiment, potentially providing additional support for Bitcoin and other cryptocurrencies.

How could a weaker US dollar and increased bond buying influence Bitcoin’s next move?

News Background

Standard Chartered has lowered its growth expectations for the stablecoin market, now projecting that total stablecoin market capitalisation will reach $2 trillion by 2030 rather than within the next two years. The revised outlook reflects slower growth in token supply amid subdued activity across the cryptocurrency market.

Asset manager VanEck has withdrawn its application with the US Securities and Exchange Commission (SEC) to register the VanEck Lido Staked Ethereum ETF. The proposed fund was designed to track stETH, a liquid staking token issued through the Lido protocol.

Ripple has introduced perpetual swaps linked to real-world assets (RWAs) through its Ripple Prime service for institutional investors. The offering covers more than 100 reference markets, including individual equities, stock indices, exchange-traded funds, precious metals, energy products and foreign exchange.

According to blockchain security firm Hacken, cryptocurrency-related hacks generated $1.18 billion in losses over the previous three months. The largest reported incidents involved the Bitget exchange, with losses of $387 million, followed by the Liquid Network and the Tectonic lending protocol, each accounting for approximately $120 million.

Peter Schiff, president of Euro Pacific Capital and a prominent Bitcoin critic, believes gold has a significantly greater chance of rising tenfold over the next five years than Bitcoin. He has also warned that Bitcoin could experience a complete collapse if investor demand were to disappear.