Bitcoin stalls near $83,000 as JPMorgan sets a 10% yearly return view

Bitcoin held its gains into the evening but could not push clear of $83,000, trading at $82,947 according to CoinGecko. Cointelegraph reports that strong US earnings lifted stocks and briefly took BTC to $83,300 before it reversed at a 21-day trend line, while JPMorgan's first long-term bitcoin return estimate added a new talking point late in the day.

Bitcoin

Bitcoin is up 1.25% over 24 hours but still down 0.5% over seven days. The 24-hour range ran from $81,155 to $83,249. Trading volume came to about $28 billion, and its market value stands near $1,667 billion. Since our afternoon update, the price has moved little: the push above $83,000 has faded into a tight hold just below it. BTC/USD chart.

Ether and the majors

Altcoins outpaced bitcoin on the day, but most remain lower on the week. Ether rose 1.74% to $2,447.92, inside a range of $2,374.52 to $2,471.63. Cardano and Dogecoin posted the largest daily gains among the majors, yet Cardano is still the weakest on a seven-day view. ETH/USD chart.

Breadth and sentiment

CoinGecko puts total crypto market value at $2.796 trillion. Bitcoin dominance is 59.5% and Ether's share is 10.7%. The Crypto Fear & Greed Index reads 55 (Greed), down from 59 a day earlier. Over the past eight days it has swung between 53 and 63 without a clear trend, staying close to the line between Neutral and Greed.

News drivers

JPMorgan's first number. Decrypt reports that J.P. Morgan Asset Management's 2027 long-term assumptions project a 10% annual return for bitcoin over 10 to 15 years. The firm is not adding bitcoin to its main portfolio models.

ETF flows. According to Decrypt, US spot bitcoin ETFs took in $526.7 million on Monday, their biggest day since Sept. 22. BlackRock's IBIT supplied all of it while Fidelity and Grayscale funds saw outflows. Separately, CoinDesk reports that BlackRock has proposed a fund designed to shield bitcoin investors from losses.

Tokenized stock pushback grows. Sixteen companies, including Microsoft, Alphabet and Goldman Sachs, have now objected to having their shares traded on the planned OKX-ICE tokenized stock venue, up from nine four days earlier, Decrypt reports. Co-chair Andrew Cuomo told CoinDesk the objections were a "natural response."

Treasuries and funds. Cointelegraph reports that Strive closed a $630 million IPO without specifying its bitcoin allocation. In Switzerland, FINMA approved the first retail fund that holds bitcoin directly, per Decrypt.

Security. A wallet tied to April's $295 million Drift exploit sent 25,700 ETH, about $61 million, through Tornado Cash in two hours, Decrypt reports. The attacker still controls roughly $198 million. Qubic restarted its blockchain after a $1.4 million hack, according to Cointelegraph.

Legal. Utah's attorney general sued prediction market Kalshi, Cointelegraph reports.

What to watch next

• SEC comment period: Bitwise and Hyperliquid filed for clearer rules on token classification and secondary trading as the comment period closes, per Cointelegraph.
• CFTC AI forum, Oct. 28: a CFTC task force will discuss AI trading and agentic finance, CoinDesk reports.
• OKX-ICE objections: whether more issuers opt out of the tokenized stock venue.
• ETF flows: whether IBIT demand continues as other funds see outflows.
• Drift funds: movements of the roughly $198 million still held by the attacker.