Market pulse

Crypto markets are broadly lower, with 80 of the 100 tracked assets declining and the median 24-hour loss at 3.5%. The weakness is widespread rather than confined to a few large tokens: only 14 assets advanced. BIRB and IRYS were notable gainers, while PHA and GTC led the declines.

Bitcoin is holding up better than the wider market, down about 0.5% over 24 hours near $80,800, but remains below its 20- and 50-day averages. Binance futures open interest fell 2.5% in 24 hours, suggesting positions were reduced as prices softened. Funding remained slightly positive, and long positioning still outweighed shorts, so bearish price action has not yet aligned with a clear shift to net-short positioning.

The next test is whether Bitcoin’s relative resilience persists while market breadth remains weak. Upcoming events include Australia’s CPI release and Bank of Canada and Federal Reserve rate decisions on October 28; these could affect broader risk sentiment, though their market impact is uncertain.