Daily Crypto Roundup - 14 Oct

Today’s Market Update

Bitcoin was down 3.41% at $111,344, Ethereum was down 6.38%, Solana was down 0.13%, and XRP was down 5.41% over the past 24 hours.

Bitcoin whipsawed from a bottom of $103,000 to $115,000 in 72 hours as Trump's tariff tweets triggered $19 billion in liquidations—yet again proving that peak retail panic is the market's loudest "buy" signal.

On the daily chart, Bitcoin dropped to $111,500 after failing to reclaim resistance near $116,000, where the 20-day and 50-day EMAs are aligned.

Despite the decline, Bitcoin continues to respect its ascending trendline from April, with $111,000 acting as a short-term support level and the 200-day EMA near $108,000 serving as a secondary floor.

Unless price closes below $108,000, the larger structure remains intact, keeping the upper projection near $128,000 valid.

The Supertrend indicator shows resistance near $124,500, aligning with the upper channel boundary.

A move above that level would confirm a continuation higher, while a drop below $111,000 would risk a deeper pullback toward the 200-day EMA.

Crypto Dynamics Roundup

Crypto Market Analysis: Traders Load Up on Bitcoin and Ethereum Put Options, Hedging Downside Risks

After Friday’s liquidation wave, option market investors are gearing up for more volatility in Bitcoin and Ethereum, actively building protective positions against a potential further drop. Derive.xyz research head Sean Dawson said volatility spiked across the board last Friday, with market sentiment leaning toward downside risks.

Data shows traders heavily buying Bitcoin and Ethereum “put options,” signaling a hedge against potential declines. In the Bitcoin market, large buys of puts with $115,000 and $95,000 strikes expiring October 31, and a shift from buying to selling $125,000 calls expiring October 17, point to short-term bearishness.

Derive.xyz co-founder Nick Foster noted traders are focusing on $4,000 strike puts (October 31 expiry) and $3,600 (October 17). He also spotted heavy buying of $2,600 puts expiring December 26, indicating bearish sentiment extending into year-end.

Coin Bureau co-founder Nic Puckrin said: “The good news is this crash cleared out excessive leverage, temporarily resetting market risk, but Bitcoin now faces another uphill battle: it must break key resistance to achieve a meaningful new all-time high this year.”

Crypto Market Loses $380 Billion in a Week, $131 Billion from Altcoins

Per 10x Research, of the $380 billion market cap erased in this crypto downturn, ~$131 billion came from altcoins. This crash has raised questions about the future of the altcoin ecosystem. Traders and market makers see structural support crumbling, with buyers drying up and risk aversion spiking.

Its unprecedented speed and scale may mark the end of the wild era where tokens could surge 1,000% for no reason. AirdropAlert.com operator Morten Christensen said: “Altcoins can indeed rise more, but they can also drop 50% in a day or 90% in a week.

At the end of this cycle, when the end feels closer, I wouldn’t bet my portfolio on that game.” Needham & Co. analyst John Todaro noted: “These assets took on huge risks, as we saw last weekend, but underperformed large-cap crypto, stocks, and gold. In short, much higher risk for less return.” Given the scale of losses for day traders, Wintermute CEO Evgeny Gaevoy was blunt: “The altcoin market will shrink.”

Crypto Funding Rates Hit Lowest Since 2022 Crash

Cointelegraph, citing Glassnode, reports crypto funding rates have fallen to their lowest since the 2022 crash, marking one of the most severe leverage resets in crypto history.

BlackRock CEO: Bitcoin and Crypto Serve the Same Role as Gold

Decrypt reports BlackRock CEO Larry Fink again cautiously endorsed crypto investments, retracting his 2017 “money laundering index” comment on Bitcoin.

In a Sunday CBS interview, Fink said: “I did call Bitcoin the domain of money launderers and thieves back then, but the market teaches you a lesson—everyone always has to revisit their assumptions.

Crypto and gold both have their place as alternatives.” He urged caution, adding crypto isn’t a bad asset for diversification but shouldn’t dominate portfolios. Fink’s shift mirrors Wall Street’s softening stance on crypto; he previously outright dismissed Bitcoin.

BlackRock CEO: Bitcoin Isn’t a Bad Asset, But Don’t Overweight It in Portfolios

In a CBS interview, BlackRock CEO Larry Fink said he’s had to rethink Bitcoin, acknowledging “crypto and gold play the same role as alternatives.”

Fink said Bitcoin “isn’t a bad asset but shouldn’t take up too much of a portfolio.” In his letter to investors this year, Fink revealed that half of BlackRock’s Bitcoin ETF demand comes from retail, with 75% of those investors new to iShares products.

Citi Plans Crypto Asset Custody Services for 2026

Citi is planning to launch crypto asset custody services in 2026, with a senior executive saying in an interview that traditional institutions are accelerating into the space. Citi’s global head of collaboration and innovation in services, Biswarup Chatterjee, said the bank has been developing crypto custody for two to three years and made substantial progress.

“We’re exploring multiple angles and hope to offer a trusted custody solution to our asset management clients and other institutions in the coming quarters,” Chatterjee said.