The cryptocurrency market showed signs of recovery on October 20, 2025, with the global market capitalization increasing by 0.9% to $3.66 trillion. This rebound was largely driven by Bitcoin, whose dominance rose sharply to 58.9%, up 1.07% in 24 hours, indicating heightened investor focus on the leading cryptocurrency amid a Bitcoin-led market cycle.
However, the market faced headwinds from ETF outflows totaling $599 million, including $367 million from Bitcoin funds and $232 million from Ethereum funds, suggesting short-term risk management by institutional players. Concurrently, the Fear and Greed Index dropped to 30, reflecting rising caution among traders. Futures data from XT Exchange showed a long/short ratio of 0.97, signaling a slight bias toward bearish bets.
In contrast, the previous day witnessed a $100 billion surge in market cap, fueled by institutional inflows into U.S. spot Bitcoin ETFs, with entities like BlackRock and Grayscale contributing significantly. Bitcoin surpassed $126,000 and Ethereum reached $4,001, highlighting robust institutional interest. Altcoins saw isolated gains, with LTO Network (LTO) soaring 83.78% on XT Exchange, while tokens like Kaspa (KAS) and Zignaly (ZIG) rose over 10%, though this did not indicate a broad altcoin rally.
Institutional shifts were evident, with some investors potentially moving from ETFs to direct holdings. XT Exchange's seventh anniversary update set a next Bitcoin target around $70,000, underscoring long-term growth prospects despite short-term uncertainties. Historical trends note that October often brings gains for Bitcoin, averaging 22% growth since 2013, with analysts watching for spillover into November.
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