Bitcoin Corrects to $67,000 Despite Ethereum ETF Approval

A bearish trend in the crypto markets triggered a $120 billion liquidation. Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) prices fell amid growing regulatory and inflation concerns.

Azcnews Bitcoin Corrects To $67,000 Despite Ethereum Etf Approval

The cryptocurrency market saw a sharp correction during early US trading hours, with Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) all experiencing significant drops. This bearish trend wiped out $120 billion, leading to a 2.5% decline in overall market capitalization, now standing at $2.52 trillion.

BTC, ETH, and XRP Lead the Crypto Market Downturn

Bitcoin’s price fell by over 3%, now trading at $67,679. Ethereum and Ripple also saw declines, with XRP dropping by 1.73% to $0.53. This broad sell-off has increased volatility across the cryptocurrency market.

Btcusdt
Btcusdt

On-chain data shows a substantial inflow of cryptocurrencies to exchanges, suggesting that many investors are preparing to sell their holdings. This influx often precedes market corrections, as increased supply on exchanges can drive prices down, amplifying the bearish sentiment.

Decreasing engagement and activity further reflect the market’s health. Metrics such as active addresses, transaction volumes, and network activity are all declining, indicating reduced investor interest and participation in the crypto ecosystem.

Regulatory News and Inflation Concerns Impact the Crypto Market

Bitcoin And Fed
Bitcoin And Fed

Additionally, the release of the Federal Open Market Committee (FOMC) Minutes has made traders more cautious. Many Fed officials expressed concerns about inflation, hinting that this might delay or reduce the number of anticipated rate cuts this year. This cautious outlook has added to the negative sentiment in the crypto market.

Related: Bitcoin Whales Accumulate Aggressively Amid Market Euphoria

Regulatory developments have also played a role in the recent downturn. The SEC has taken a conservative stance on the crypto bill recently passed by the House of Representatives. SEC Chair Gary Gensler emphasized the agency’s openness to dialogue while continuing to enforce laws that ensure token operators provide necessary disclosures to investors.

The market pullback can also be linked to the S&P Global Purchasing Managers’ Index (PMI) report, which showed that the US economy has grown at its fastest pace in two years. This strong economic growth has led traders to reassess their expectations for interest rate cuts, putting additional pressure on Bitcoin and other digital currencies.

(11 votes)

5.1/5

(11 votes)
  1. Avatar of Aisha
    Aisha

    Aaa

  2. Avatar of Mdjubyer
    Mdjubyer

    Hi

  3. Avatar of
    Anonymous

    Hmmm

Comments are closed.

Latest

World’s Richest Youtuber Mrbeast Registers His Own Finance And Crypto Brand

News | Editor Choice | Policy & Regulations

World’s Richest YouTuber MrBeast Registers His Own Finance and Crypto Brand

The world’s richest YouTuber, MrBeast, has made a bold move into the world of finance and cryptocurrency with his new brand “MrBeast Financial”, signaling his ambition to build a global fintech empire.

Deepseek Surpasses Grok And Openai In Crypto Trading Showdown

News | AI | Editor Choice

DeepSeek Surpasses Grok and OpenAI in Crypto Trading Showdown

DeepSeek is making waves across the crypto and tech communities as it takes the lead in Alpha Arena — a live crypto trading competition among the world’s top artificial intelligence models, outperforming both Elon Musk’s Grok and OpenAI’s GPT-5.

Bitcoin’s Two Failed Rallies Signal Weakness

News | Bitcoin | Editor Choice

Bitcoin’s Two Failed Rallies Signal Weakness

The Bitcoin (BTC) market is entering a tense phase as bullish momentum fades after two consecutive failed recovery attempts. While the price still holds key support levels, on-chain data suggests the market may be shifting toward accumulation, with long-term holders (LTHs) quietly building their positions.

Bio Soars 58% After Upbit Listing, Desci Tokens Make A Powerful Comeback

News | Altcoin | Editor Choice

BIO Soars 58% After Upbit Listing, DeSci Tokens Make a Powerful Comeback

South Korea’s crypto market just witnessed a major explosion as Upbit, the country’s largest exchange by trading volume, announced the listing of BIO Protocol’s native token, BIO. Following the news, the altcoin skyrocketed over 58%, while its trading volume surged by more than 500% within hours.

Ripple Chairman Accused Of Dumping 50m Xrp On Retail Investors

News | Altcoin | Editor Choice

Ripple Chairman Accused of Dumping 50M XRP on Retail Investors

The XRP community is in turmoil after a new claim by CryptoQuant analyst Maartunn alleged that Ripple Chairman Chris Larsen sold off 50 million XRP, “dumping” on retail investors. However, industry experts quickly pushed back, clarifying that the transaction was not a sell-off as speculated.

Screenshot 2025 10 20 091338