The crypto market cap is nearly 1% down on Oct. 10 and has reached a level of $4.12 trillion. Let’s take a closer look at the latest market updates.
Ethereum (ETH) is currently trading at $4,332, which indicates a 0.8% decline over the past 24 hours and a 2.4% drop for the week. The asset remains roughly 12% below its Aug. 24 peak of $4,946.
Ethereum futures trading volume climbed 21.5% to $93.6 billion, while open interest edged down 0.83% to $59.2 billion.
Bitcoin (BTC) retreated to nearly $121,000 as traders locked in profits. Nevertheless, analysts remain optimistic. They emphasize that the crypto market’s underlying structure continues to look strong. Further gains are still expected in October.
“Bitcoin’s pullback after the ATH looks like a pause rather than a pivot. Short-term holders took profits, some leverage longs got liquidated, but long-term supply hasn’t moved,” explained Justin d’Anethan, analyst and Head of Partnerships at Arctic Digital.
