The crypto market took a sharp downturn on Oct. 17 as fears of a deepening U.S.\u2013China trade war and heavy ETF outflows shook investor confidence. The overall sentiment has now slipped into \u201cextreme fear,\u201d with major coins losing critical support levels.<\/p>\n\n\n\n
The total crypto market cap dropped 2.7% to $3.7 trillion<\/strong>, while liquidations spiked 56% to $724 million<\/strong> in just 24 hours. Market momentum weakened further, with the global crypto RSI sitting at 39 a range commonly seen during market consolidation.<\/p>\n\n\n\n The Crypto Fear & Greed Index<\/strong> also fell six points to 22<\/strong>, signaling rapidly deteriorating sentiment across the market.<\/p>\n\n\n\n At the time of writing:<\/p>\n\n\n\n The downturn followed renewed geopolitical tension. President Trump\u2019s Oct. 10 announcement targeting Chinese tech exports sparked a new wave of uncertainty, and China\u2019s retaliatory sanctions especially involving U.S. shipping reversed Monday\u2019s brief market rebound.<\/p>\n\n\n\n Spot Bitcoin ETFs saw $506 million<\/strong> in outflows on Oct. 16, while Ethereum ETFs recorded $103 million<\/strong> in withdrawals, per SoSoValue. After several weeks of strong inflows, appetite from institutions now appears to be cooling.<\/p>\n\n\n\n Adding to volatility, a large batch of derivatives is set to expire on Oct. 17:<\/p>\n\n\n\n According to Deribit, Bitcoin\u2019s put\/call ratio stands at 0.82 with a max pain<\/strong> price of $116,000<\/strong>, while Ethereum\u2019s ratio is 0.81 with max pain at $4,100<\/strong> levels that often act as short-term price magnets.<\/p>\n\n\n\n Despite the pullback, analysts see several potential catalysts that could support a recovery:<\/p>\n\n\n\n For now, the market remains fragile but several macro events over the next two weeks may determine whether Bitcoin can reclaim momentum above $115,000.<\/p>\n","protected":false},"excerpt":{"rendered":" The crypto market took a sharp downturn on Oct. 17 as fears of a deepening U.S.\u2013China trade war and heavy ETF outflows shook investor confidence. The overall sentiment has now slipped into \u201cextreme fear,\u201d with major coins losing critical support levels. The total crypto market cap dropped 2.7% to $3.7 trillion, while liquidations spiked 56%…<\/p>\n","protected":false},"author":3,"featured_media":12889,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,70],"tags":[65,89],"class_list":["post-12888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-finance","tag-crypto","tag-solana"],"yoast_head":"\nBitcoin, Ethereum, and Solana Lose Key Support<\/strong><\/h3>\n\n\n\n
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ETF Outflows and Options Expiry Add Selling Pressure<\/strong><\/h3>\n\n\n\n
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What Could Spark a Crypto Market Rebound?<\/strong><\/h3>\n\n\n\n
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Historically, lower rates weigh on the dollar and drive liquidity into crypto. After the September rate cut, BTC jumped 15%.<\/li>\n\n\n\n