--- canonical: "https://whycoinmoves.com/en/" language: en --- # Crypto news today: why the crypto market is up or down Source coverage is not truth probability. Observed returns do not establish causation. Last collection: 23/10/2026, 12:54 UTC. Events: 177. ## Market snapshots - [BTC](): $81,725.20; 24h +0.03%; Gate · USDT; 23/10/2026, 12:54 UTC. - [ETH](): $2,400.25; 24h -0.08%; Gate · USDT; 23/10/2026, 12:54 UTC. - [ZEC](): $1,230.97; 24h -1.49%; Gate · USDT; 23/10/2026, 12:54 UTC. - [HYPE](): $77.78; 24h -0.25%; Gate · USDT; 23/10/2026, 12:54 UTC. - [SOL](): $104.36; 24h +0.06%; Gate · USDT; 23/10/2026, 12:54 UTC. - [ADA](): $0.21643; 24h +0.19%; Gate · USDT; 23/10/2026, 12:54 UTC. - [BNB](): $745.60; 24h +1.76%; Gate · USDT; 23/10/2026, 12:54 UTC. - [DOGE](): $0.08016; 24h +0.98%; Gate · USDT; 23/10/2026, 12:54 UTC. - [HBAR](): $0.07957; 24h -1.40%; Gate · USDT; 23/10/2026, 12:54 UTC. - [LINK](): $12.07; 24h +0.43%; Gate · USDT; 23/10/2026, 12:54 UTC. - [LTC](): $58.77; 24h -0.64%; Gate · USDT; 23/10/2026, 12:54 UTC. - [SHIB](): $0.000005; 24h +2.03%; Gate · USDT; 23/10/2026, 12:54 UTC. - [SUI](): $0.995; 24h +1.18%; Gate · USDT; 23/10/2026, 12:54 UTC. - [TRX](): $0.3303; 24h -0.24%; Gate · USDT; 23/10/2026, 12:54 UTC. - [XLM](): $0.17673; 24h -0.42%; Gate · USDT; 23/10/2026, 12:54 UTC. - [XRP](): $1.32; 24h -0.55%; Gate · USDT; 23/10/2026, 12:54 UTC. - [DACITY](): $0.018936; 24h +149.75%; CoinGecko · USD; 23/10/2026, 12:47 UTC. - [PONS](): $0.2569; 24h -0.15%; Gate · USDT; 23/10/2026, 12:54 UTC. - [PEARL](): $2.07; 24h -9.45%; CoinGecko · USD; 23/10/2026, 12:47 UTC. - [AXIS](): $0.277719; 24h -2.53%; CoinGecko · USD; 23/10/2026, 12:47 UTC. - [OA](): $0.000005; 24h -99.97%; CoinGecko · USD; 23/10/2026, 12:47 UTC. - [PUMP](): $0.004601; 24h -3.15%; Gate · USDT; 23/10/2026, 12:54 UTC. ## Latest events ### [Strive lists SATS preferred stock on Nasdaq with 15% dividend]() Bitcoin treasury company Strive said its second preferred stock, SATS, began trading on the Nasdaq and will pay a 15% dividend every business day, according to Bitcoin Magazine. Strive said it closed an upsized initial public offering of 7,000,000 SATS shares at $90 per share. CEO Matt Cole called the listing a milestone for long-term total returns. The company holds 36,818 BTC, and its common stock ASST traded 4% higher, the report said. ### [Bitcoin's Next Move: Here's What to Watch]() Decrypt: “Bitcoin trades just below $83,000, above both the short-term and long-term moving averages. Here are the levels traders are watching.” Observed BTC +2.13% over 24 hours after site detection. Observations do not establish causation. ### [Strive closes $630M SATS IPO, leaves Bitcoin allocation unspecified]() Cointelegraph reported that Strive closed a $630 million initial public offering for its SATS vehicle, as stated in its headline. The Bitcoin treasury company has not specified how much of the proceeds will go to Bitcoin; the publisher estimated the net proceeds could buy about 7,372 BTC, which would potentially exceed Metaplanet's holdings if the full amount were allocated. ### [HoneyB developer Nectar Group raises $5 million seed round at $30 million valuation]() Nectar Group, the developer of the bitcoin income platform HoneyB, has raised $5 million in a seed funding round, according to The Block. The publisher reported that the round valued the company at $30 million. The report did not name the investors or say how the new capital will be used. ### [Bitcoin rebounds to $83,195 as crypto market bounces and ETF inflows return]() Bitcoin rose 1.57% to $83,195 as the crypto market rebounded, Decrypt reported. The report said crypto exchange-traded funds recorded net inflows of $526.7 million, the largest in a month, and total crypto market capitalization rose 1.68% to $2.78 trillion. Zcash led the move, climbing 8.5% to $1,215.85 with a market capitalization of $20.57 billion, according to the same report. ### [CoinDesk opinion piece links Coinbase dispute to Bitcoin corporate custody gap]() A CoinDesk opinion column argues that the dispute between BlockTower Capital founder Ari Paul and Coinbase over custody exposes a governance gap for companies holding bitcoin. The piece says Paul accused Coinbase of losing roughly $25 million of his firm's assets and concealing hacks totaling more than $1 billion across a dozen institutions, while Coinbase denies the allegations and Paul cites active litigation as preventing him from publishing his evidence. ### [Bitwise reports record 43.8 million ETH staked in third quarter]() Bitwise reported that a record 43.8 million ETH, nearly 36% of supply, was staked on Ethereum in the third quarter, while staking yields fell to 2.63%. The same report said Solana staking reached a record 440.5 million SOL, according to The Block's account of the findings. ### [Why did SUI drop 0.71% in 1 minute? Evidence check: Sui falls in a sharp one-hour drop as most tracked coins decline together · 2026-10-20]() Sui fell in a sharp one-hour move while most other tracked coins also declined, a market-wide pattern. Bitcoin reports in the same period include Cointelegraph coverage of bitcoin spiking as US stocks rose on quarterly earnings and oil fell. No report in the monitored feeds explains the Sui move, so its cause is unresolved. ### [Cointelegraph reports bitcoin briefly hit $83,300 as US stocks rose on Q3 earnings]() Cointelegraph reported that bitcoin's price rose to $83,300 before reversing at a 21-day trend line, as strong US corporate earnings for the third quarter lifted stock markets. The report attributes the advance to higher stock markets, with the reversal coming at the 21-day trend line. No figures beyond the price level were given. ### [Why did DOGE drop 1.73% in 5 minutes? Evidence check: Dogecoin falls more than broad market in short window · 2026-10-20]() Dogecoin dropped over a five-minute window while most other tracked coins also moved lower, according to market data from Gate. The move came alongside a report from Cointelegraph on BlackRock seeking to shield bitcoin investors from losses after a rival fund weathered a crash. No report in the monitored feeds directly explains the Dogecoin decline. ### [Why did SOL drop 1.59% in 5 minutes? Evidence check: Solana falls as most tracked coins move lower · 2026-10-20]() Solana's price dropped over a five-minute window, outpacing a smaller decline in the broader benchmark and moving in the same direction as most other tracked coins, according to Gate USDT market data. Funding on the OKX perpetual swap was positive, open interest was falling, and liquidations were mostly on the long side at a moderate scale. No report in the monitored feeds explains the move. ### [Why did NEAR drop 2.13% in 1 minute? Evidence check: NEAR falls in sharp one-hour move while most tracked coins are mixed · 2026-10-20]() NEAR dropped in a sharp one-hour decline, outpacing bitcoin's smaller move over the same window. Among the other tracked coins, the direction was mixed and none fell further than NEAR. On the OKX perpetual swap, funding was negative and long positions were mostly force-closed at a moderate scale relative to open interest. No report in the monitored feeds explains the move, so the cause is unresolved. ### [Why did SUI drop 0.98% in 1 minute? Evidence check: Sui falls in a sharp one-hour drop alongside most tracked coins · 2026-10-20]() Sui fell sharply over a one-hour window on Gate's SUI/USDT market, a move that came as most other tracked coins also declined, pointing to broad market conditions rather than a coin-specific event. No report in the monitored feeds explains the drop, so the cause is unresolved. ### [Why did NEAR go up 8.24% in 60 minutes? Evidence check: NEAR jumps as most tracked coins rise together · 2026-10-20]() NEAR rose sharply over a one-hour window while most other tracked coins moved the same way and Bitcoin also gained, so the move was market-wide rather than specific to NEAR. On the OKX perpetual swap, funding was negative, open interest rose and liquidations were mostly shorts and heavy. No report in the monitored feeds explains the move, so its cause is unresolved. ### [BlackRock files for buffer bitcoin ETF with capped upside and limited losses]() BlackRock filed with the SEC for the iShares Bitcoin Managed Protection ETF, ticker PBIT, which seeks bitcoin exposure through options with capped gains and some downside protection rather than holding bitcoin directly, per Decrypt, CoinDesk and Bitcoin Magazine. Decrypt reported IBIT took in $665.2 million on the filing day, its only inflow among 12 funds. ### [Why did SUI go up 1.02% in 1 minute? Evidence check: Sui rises in a sharp hourly move alongside most tracked coins · 2026-10-20]() Sui rose sharply over one hour on Gate's SUI/USDT market, and most other tracked coins moved the same way, a market-wide pattern, so a coin-specific report is a weak explanation. Open interest was not reported; the OKX perpetual swap showed positive funding and moderate liquidations mostly on the short side. No report in the monitored feeds explains the move, so the cause is unresolved. ### [Injective and BDACS plan won-backed stablecoin for tokenized assets]() Injective and BDACS announced a plan to bring the won-backed stablecoin KRW1 to tokenized asset markets, Cointelegraph and The Block reported. Both reports said the move comes as South Korea develops a regulatory framework for Korean won-denominated stablecoins. ### [Sam Callahan argues Bitcoin does not need rate cuts to succeed]() In a video published by Bitcoin Magazine and written up by Patrick Green, analyst Sam Callahan argued that Bitcoin does not need interest-rate cuts to succeed, pointing instead to fiscal dominance and currency debasement. He said the U.S. dollar has lost at least 20% of its purchasing power in five years, citing core PCE averaging 3.7% and what he called the steepest drawdown in the history of the U.S. bond market. - [Security]() - [Regulation]() - [Exchanges]() - [Project updates]() - [Market watch]() - [General news]() [Full reading list]()