Market Analysis

Bitcoin price prediction notes a brief recovery on Saturday, October 10, but the market remains poised for a weekly loss as rising oil prices, higher U. S. Treasury yields, and renewed concerns about cryptocurrency security have dampened sentiment. Currently, the world’s largest digital asset trades around $82,900, up 0. 4% for the day after bouncing back from a […]

Bitcoin's order book has rebuilt sharply: about $11.7 million in orders sat within 1% of the price on October 7, roughly 75% more than on the recent crash day. Depth within 0.5% more than doubled to about $4.2 million, and Ether's order book is showing similar signs of rebuilding. Farther from the price, recovery has been slower, with 5% depth still near early-2025 levels, while altcoin liquidity remains thin. The rebuilt books were tested in the October 7–8 selloff, when Bitcoin's 1% depth fell about 12%.

Even as Ethereum fell more than 7% over the seven days through October 9, 2026, ETH held on crypto exchanges slid to a new multiyear low. Data show the 30-day simple moving average of ETH reserves across all exchanges fell to 14,742,387.9 ETH, down 6,382,160.7 ETH, or 30.21%, from July 18, 2025. Binance’s 30-day average ETH reserve also declined to 3,574,345.43 ETH, a 6.69% drop since August 1. The figures indicate a sustained net outflow of ETH from exchanges.

Bitcoin saw $1.03 billion in profits realized in a single day after climbing above $87,000, marking the second-highest daily level recorded in 2026. The price then slid to around $80,300 before rebounding, but it remained below $82,700. On October 8, 12,267 BTC worth about $1.01 billion moved from a US government-linked wallet, adding to concerns about additional selling. US-listed spot Bitcoin ETFs have also turned negative in October, with nearly $410 million in net outflows so far and holdings down by more than 40,000 BTC, signaling softer demand.

Bitcoin pulled back from the $87,000 resistance level and slid by nearly $7,000 over three trading days, briefly touching $80,400. The move was sparked by the U.S. government transferring crypto holdings, including 834 BTC, to Coinbase Prime, stoking fears of a potential sale. During the transfers, BTC fell $2,000 in 20 minutes and was down 6.9% over the period. Analysts had previously pointed to $92,000 as a target if BTC moved beyond $87,000, but selling followed instead.

Ethereum has fallen 10% over the past three days alongside a broader market pullback, cutting more than $38 billion from its market capitalization. On-chain data show Binance’s ETH reserves continue to decline, dropping from around 3.92 million in August to 3.47 million now, a decrease of nearly 11.5%. On October 6, the exchange logged more than 320,000 ETH withdrawal transactions in a single day, a record high. ETH’s RSI has slipped to around 23 as the token tests support at the lower boundary of a rising channel.

XRP exchange reserves on Binance and Upbit fell by a combined 104.7 million tokens, with data showing whales accounted for 77% of centralized exchange outflows and about 81% of Binance outflows. Binance’s reported XRP reserves declined from roughly 2.704 billion on September 26 to 2.631 billion on October 4. Separately, four newly created Hyperliquid wallets opened 40x Bitcoin short positions with a notional value of about $12.5 million before BTC slipped below $84,000, according to Lookonchain. The two developments point to mixed market signals.

At the TOKEN2049 conference in Singapore on October 7, Bitmine Chairman Tom Lee said the company needs to buy about 100,000 more ETH to reach its target of 5% of circulating supply, after which it will stop accumulating. Bitmine reported holdings of 6,016,414 ETH—around 4.9% of supply—after buying roughly $41 million worth over the prior week. U.S. spot ETH ETFs have recorded outflows for six consecutive trading days. With those developments, ETH fell 5% over the week to around $2,500.

Bitcoin has repeatedly failed to break above its yearly open at $87,700 and is trading near $84,000. Futures-market leverage has cooled, with aggregate open interest down to about 625,000 BTC, the lowest level since January 1. Spot demand has also softened, as US spot Bitcoin ETFs took in just $241.1 million in net inflows from September 28 to October 2, down about 90% from $2.39 billion the prior week. Data show long futures traders closed positions in size after key releases, leaving overall momentum subdued.