Crypto Chaos: Bitcoin’s Rollercoaster Ride 🎢 Ethereum’s Slip-Up 💔

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Well, folks, the cryptocurrency circus is back in town, and boy, it’s a doozy. Bitcoin (BTC), Ethereum (ETH), and their band of merry altcoins are taking a nosedive faster than a politician’s promise. BTC clawed its way back to $115,000 after Friday’s tumble, even strutting past $116,000 for a hot minute. But, like a cat realizing it’s been tricked into a bathtub, selling pressure returned, and BTC plummeted below $112,000. Down over 3% in 24 hours, BTC is now lounging around $111,908, probably contemplating its life choices.

Meanwhile, ETH is dangling precariously above $4,000 like a tightrope walker with vertigo. It rebounded after Friday’s crash, reaching $4,290 early Tuesday, but couldn’t hold on. Now, it’s down nearly 4%, trading around $4,003. Ripple (XRP)? Down over 6%. Solana (SOL)? Struggling to reclaim $200. Dogecoin (DOGE)? Down over 5%. Cardano (ADA)? Down nearly 1%. Chainlink (LINK)? Down almost 5%. Stellar (XLM), Hedera (HBAR), Litecoin (LTC), Toncoin (TON), and Polkadot (DOT) are also taking hits. It’s like watching a domino competition where everyone’s a loser.

China Retaliates After Trump’s Tariffs

China, never one to take a punch lying down, slapped tariffs on American units of Hanwha Ocean Co., South Korea’s shipbuilding giant, in retaliation for Trump’s 100% tariffs on Chinese goods. This sent markets into a tailspin, with over $19 billion in leveraged crypto positions liquidated in a brutal selloff. While crypto bounced back on Sunday and Monday, selling pressure returned faster than a boomerang. Investors pulled over $750 million from Bitcoin and Ethereum ETFs. Analytics platform Glassnode noted,

“The market now enters a consolidation phase, one defined by renewed caution, selective risk-taking, and a more measured rebuilding of confidence across both spot and derivatives markets.”

Bitcoin, Ethereum ETFs Register Combined $755M In Net Outflows

US-listed spot Bitcoin and Ethereum ETFs saw a combined $755 million in outflows on October 13 as US-China trade tensions escalated. Grayscale’s GBTC led the exodus with $145.3 million in outflows, followed by Bitwise’s BITB ($115.6 million) and Fidelity’s FBTC ($93.2 million). BlackRock’s IBIT, however, saw $60 million in inflows. Spot Ethereum ETFs weren’t spared either, with $428.5 million in net outflows. BlackRock’s ETHA led the charge with $310 million. Not a single Ethereum ETF saw inflows. It’s a fire sale, folks, but who’s buying?

Bhutan Migrates National ID System To Ethereum

Bhutan, the land of happiness and now Ethereum, is migrating its national ID system from Polygon to Ethereum. This system allows residents to verify their identities and access government services. Ethereum Foundation President Aya Miyaguchi announced on X,

“Today, Bhutan celebrates a historic milestone, becoming the first nation to anchor its national digital identity system on Ethereum. It’s deeply inspiring to see a nation commit to empowering its citizens with self-sovereign identity.”

California To Establish Regulatory Safeguards For Social Media And AI Chatbots

California, always the trendsetter, plans to regulate social media platforms and AI chatbots to protect children. Governor Gavin Newsom signed bills requiring age verification, protocols to address self-harm and suicide, and warnings for AI chatbots. Senator Steve Padilla, who introduced the AI Bill, SB 243, said,

“This technology can be a powerful educational and research tool, but left to their own devices, the Tech Industry is incentivized to capture young people’s attention and hold it at the expense of their real-world relationships.”

Bitcoin (BTC) Price Analysis

Bitcoin’s back in bear territory, down over 4%, struggling to stay above $110,000. This comes after China retaliated against Trump’s tariffs. BTC dropped 1.96% on Saturday, rebounded Sunday to reclaim $115,000, but faced volatility and selling pressure Monday. Traders are cautious, but analysts believe the liquidations cleared excess leverage, creating a healthier setup for recovery. Trading volumes dropped 25% to $69 billion, while derivatives volume rose marginally to $109.97 billion. Open interest fell 1.8% to $73.36 billion.

Bitcoin’s rollercoaster ride began last week with a 1.41% increase to $122,318. It rose marginally Saturday, hit $125,750 Sunday, and ended the weekend at $123,520. Buyers retained control Monday, pushing BTC to $124,720, but momentum waned Tuesday, dropping nearly 3% to $121,393. BTC recovered Wednesday, settling at $123,343, but selling pressure returned Thursday, dropping it to $121,714. Friday’s crash plunged BTC to $102,000 on Binance before recovering to $112,980. Selling pressure persisted Saturday, dropping BTC to $110,768. Markets recovered Sunday, pushing BTC to $115,067. Monday’s volatility settled BTC at $115,274, but selling pressure returned during the current session, dropping BTC to $111,529.

Ethereum (ETH) Price Analysis

ETH’s back in bear territory despite a strong recovery post-Friday’s crash. Down over 2% Saturday, it rebounded Sunday, rising nearly 11% to reclaim $4,000. Buyers retained control Monday, pushing ETH to $4,244 despite selling pressure. ETH is down over 6% during the current session, trading around $3,987. ETH’s RSI points downward, indicating waning momentum, while the MACD shows sellers are in control. Spot Ethereum ETFs saw $428 million in net outflows on October 13, the third consecutive day of outflows. BlackRock’s ETHA accounted for $310 million of the total outflows. BitMine Immersion, however, purchased 202,037 ETH worth $839 million.

ETH’s journey began last weekend, rising marginally Friday but falling 0.55% Saturday to settle at $4,487. Positive sentiment returned Sunday, pushing ETH to $4,515. Buyers retained control Monday, pushing ETH to $4,685, but selling pressure returned Tuesday, dropping ETH to $4,451. ETH recovered Wednesday, rising 1.68%, but was back in bearish territory Thursday, dropping 3.47% to settle at $4,369. Friday’s crash plunged ETH to $3,444 before recovering to $3,836, ultimately dropping over 12%. ETH recovered Sunday, reclaiming $4,000 and settling at $4,158. Buyers retained control Monday, pushing ETH to $4,224. Selling pressure has returned, with ETH down nearly 7%, trading around $3,966.

Solana (SOL) Price Analysis

Solana reclaimed $200 Monday, rising nearly 6% and settling at $208. However, it lost momentum during the current session, down over 7%, trading around $193. SOL’s recovery was fueled by whale activity and institutional inflows, but price action depends on reclaiming $200. If it does, SOL could rise towards $240. If not, it could drop below $190.

SOL’s journey began last weekend, dropping nearly 1% Friday and over 2% Saturday to settle at $227. It recovered Sunday, reaching $237 before settling at $238. Buyers retained control Monday, pushing SOL to $232, but selling pressure returned Tuesday, dropping SOL to $220. SOL recovered Wednesday, rising over 4% to $229, but selling pressure returned Thursday, dropping SOL to $221. Friday’s crash plunged SOL to $170 before settling at $188, ultimately dropping over 14%. Sellers retained control Saturday, dropping SOL to $177. SOL recovered Sunday, reclaiming $200 and settling at $208. However, SOL is back in the red, down over 7%, trading around $193.

Arbitrum (ARB) Price Analysis

ARB started last week positively, rising nearly 6% Monday and settling at $0.456. Selling pressure returned Tuesday, dropping ARB almost 8% to settle at $0.421. ARB recovered Wednesday, rising over 3%, but returned to bearish territory Thursday, dropping nearly 4% to settle at $0.418. Friday’s crash plunged ARB to $0.106 before settling at $0.301, dropping nearly 28%. ARB recovered Sunday, rising almost 11% to settle at $0.334. Buyers retained control Monday, pushing ARB to $0.358, but selling pressure has returned, with ARB down over 9%, trading around $0.326.

Filecoin (FIL) Price Analysis

FIL ended last weekend positively, rising marginally Sunday to settle at $2.33. Price action remained positive Monday, pushing FIL to $2.40, but selling pressure returned Tuesday, dropping FIL over 5% to settle at $2.28. FIL recovered Wednesday, rising 3.77% to $2.36, but returned to bearish territory Thursday, dropping almost 3% to settle at $2.30. Friday’s crash plunged FIL over 20%, falling to $1.74 before settling at $1.81. Selling pressure persisted Saturday, dropping FIL nearly 14% to settle at $1.56. FIL recovered Sunday, rising over 6% to end the weekend at $1.66. Positive sentiment persisted Monday, pushing FIL to $1.73. FIL is back in the red, down over 8%, trading around $1.58.

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2025-10-15 06:19