Bitcoin near $82,600 as Fear & Greed falls to 57 and altcoins slide

Bitcoin held near $82,600 while the wider crypto market lost more ground, as the Crypto Fear & Greed Index dropped to 57 from 69 a day earlier. Altcoins took the bigger hit, with Cardano down 6.69% and Solana down 5.25% over 24 hours.

Bitcoin

Bitcoin traded at $82,648 in the CoinGecko snapshot taken at 02:34 UTC on October 13. That is down 1.44% over 24 hours and 4.13% over seven days. The 24-hour range ran from $81,018 to $84,231. Trading volume was $30.5 billion.

The price is slightly above the $82,345 level in our previous recap, but the session included a dip close to $81,000. Cointelegraph reported that Bitcoin failed to hold above $84,000 into the Wall Street open as Ukraine and Iran strikes pushed oil toward a one-month high. CoinDesk pointed to a firm dollar and rising bond yields as further weights on sentiment. Our sister site covered the currency side in its report on the dollar reaching an 18-month high as Fed's Hammack backed more tightening.

BTC/USD chart

Ether and the majors

Ether fell 2.97% to $2,477.63, with a 24-hour range of $2,411.24 to $2,575.42. Its seven-day loss is 9.46%. Every large cap in the table is down by more than Bitcoin over both windows.

SOL/USDT chart

Breadth and sentiment

Total crypto market capitalisation stood at $2.794 trillion, down 3.5% in 24 hours, a steeper fall than Bitcoin's. Bitcoin dominance was 59.4% and Ether dominance 10.8%.

The Fear & Greed Index from Alternative.me read 57, still labelled "Greed". That is the lowest reading in the past eight days, down from 73 on October 6 and 69 on October 12. Decrypt noted the index had fallen to pre-rally August lows, down from an August peak of 82, as oil, bond yields and ETF outflows hit Bitcoin in October.

News drivers

XRP treasury debuts on Nasdaq

Evernorth, the Ripple-backed XRP treasury company, began trading on Nasdaq on Monday. Cointelegraph reported its shares rose 5% at the opening print. Decrypt added that 80% of SPAC investors cashed out before the listing and that its 473 million XRP are worth roughly 40% less than at signing.

Separately, CoinDesk reports that Standard Chartered's Dubai branch now offers custody for Ripple's RLUSD stablecoin. According to Decrypt, a planned link with LMAX would let institutions post it as trading collateral without moving the coins.

Treasury buyers

CoinDesk reports that Bitmine bought more ether and is inching closer to owning 5% of the total supply. Decrypt says DeFi Development now holds about 2.59 million SOL, though its weekly purchases keep shrinking.

Ledger case narrows

CoinDesk reports that up to $93 million has been traced and $10 million frozen in the hardware wallet drain. Ledger told Decrypt that all confirmed cases are tied to reseller CryptoBilis, which has stopped selling hardware wallets.

In South Korea, CoinDesk reports the first traditional bank loans backed by bitcoin.

What to watch next

• US midterms: Cointelegraph reports a crypto-aligned committee announced $2.7 million in House race spending, with 22 days until the vote.
• Stablecoin accounting: A Tempo report, covered by Cointelegraph, examines proposed US accounting rules that could decide which stablecoins count as cash.
• RLUSD collateral: Progress on Standard Chartered's planned LMAX link.
• Ledger: Further updates on traced and frozen funds in the CryptoBilis case.