Stay updated with live crypto news: top coin price rebound and key trends shaping the market landscape on Oct. 20.
While the top crypto coins are climbing on average by 3%-4%, Synthetix (SNX) is a top gainer, with a 27% increase.
SPX6900 (SPX), Artificial Superintelligence Alliance (FET), Mantle (MNT), Bittensor (TAO), and Chainlink (LINK) are among other coins with the most significant gains over the past 24 hours.
Bitcoin (BTC) has gained over 4% over the past 24 hours and managed to reclaim the $111K level. At the moment, the major coin is trading at $111,163 (+4.05%), which is still significantly lower than $ the $127K reached in September.
Nevertheless, some analysts describe the recent downturn as a temporary shakeout rather than a structural collapse. They point to heavy liquidations and ETF outflows as the main drivers behind the move. At the same time, whales have been accumulating during the dips. All these factors suggest Bitcoin is going through a correction phase but is not entering a new bearish cycle.