--- 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, 13:42 UTC. Events: 183. ## Market snapshots - [BTC](): $81,968.50; 24h +0.40%; Gate · USDT; 23/10/2026, 13:42 UTC. - [ZEC](): $1,233.79; 24h -1.17%; Gate · USDT; 23/10/2026, 13:42 UTC. - [HYPE](): $78.14; 24h -0.21%; Gate · USDT; 23/10/2026, 13:42 UTC. - [SUI](): $0.9965; 24h +1.15%; Gate · USDT; 23/10/2026, 13:42 UTC. - [ADA](): $0.21676; 24h +0.05%; Gate · USDT; 23/10/2026, 13:42 UTC. - [BNB](): $747.50; 24h +1.95%; Gate · USDT; 23/10/2026, 13:42 UTC. - [DOGE](): $0.08032; 24h +0.92%; Gate · USDT; 23/10/2026, 13:42 UTC. - [ETH](): $2,410.56; 24h +0.10%; Gate · USDT; 23/10/2026, 13:42 UTC. - [HBAR](): $0.07982; 24h -1.63%; Gate · USDT; 23/10/2026, 13:42 UTC. - [LINK](): $12.05; 24h -0.02%; Gate · USDT; 23/10/2026, 13:42 UTC. - [LTC](): $58.83; 24h -0.65%; Gate · USDT; 23/10/2026, 13:42 UTC. - [SHIB](): $0.000005; 24h +1.99%; Gate · USDT; 23/10/2026, 13:42 UTC. - [SOL](): $104.68; 24h -0.15%; Gate · USDT; 23/10/2026, 13:42 UTC. - [TRX](): $0.3304; 24h -0.09%; Gate · USDT; 23/10/2026, 13:42 UTC. - [XLM](): $0.17674; 24h -0.54%; Gate · USDT; 23/10/2026, 13:42 UTC. - [XRP](): $1.32; 24h -0.50%; Gate · USDT; 23/10/2026, 13:42 UTC. - [UHI](): $0.035715; 24h +40.17%; CoinGecko · USD; 23/10/2026, 13:17 UTC. - [PEARL](): $2.01; 24h -6.58%; Gate · USDT; 23/10/2026, 13:42 UTC. - [PONS](): $0.2592; 24h +0.85%; Gate · USDT; 23/10/2026, 13:42 UTC. - [AXIS](): $0.274878; 24h -2.88%; CoinGecko · USD; 23/10/2026, 13:17 UTC. - [OA](): $0.000005; 24h -99.97%; CoinGecko · USD; 23/10/2026, 13:17 UTC. - [PUMP](): $0.004618; 24h -3.27%; Gate · USDT; 23/10/2026, 13:42 UTC. ## Latest events ### [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. ### [Drift exploit-linked wallets move Ether into Tornado Cash]() Wallets tied to April's $295 million Drift Protocol exploit sent Ether into Tornado Cash, with Decrypt reporting 25,700 ETH worth about $61.56 million deposited over roughly two hours, citing Arkham Intelligence data. Cointelegraph reported $109 million in Ether moved to the mixer in two days and said the wallets still held $138 million in Ether; Decrypt put the remaining balance at 81,454 ETH, about $198.58 million. ### [Michael Howell calls Bitcoin most liquidity-sensitive asset, flags $70K support]() In a Bitcoin Magazine video, CrossBorder Capital's Michael Howell described Bitcoin as "the most liquidity sensitive asset on the planet by far" and recommended a volatility-weighted basket of gold and Bitcoin, with Bitcoin's share possibly reaching 50/50 as it becomes more institutional. The publisher reported that he flagged $70K as key Bitcoin support and said Kevin Warsh's Fed may keep liquidity from slumping. ### [Swiss regulator FINMA approves country's first retail bitcoin ETF]() Switzerland's Financial Market Supervisory Authority (FINMA) said it approved the country's first bitcoin ETF open to retail investors, Bitcoin Magazine and Decrypt reported. FINMA said it waived the applicable risk diversification rules because bitcoin has a long trading history and particularly high trading volume compared with other cryptocurrencies, while stressing such investments remain highly risky. The regulator did not name the issuer or a launch date and said other providers have filed or announced applications. ### [Morning Minute: Nine Blue Chip Companies Say No to Tokenized Stocks]() Decrypt: “If companies are objecting, does that deflate the tokenized stock hopes before they begin to materialize? And who is impacted the most?” ### [U.S. bitcoin ETFs post largest net inflows in a month at about $527 million]() CoinDesk reported that U.S. spot bitcoin ETFs attracted roughly $527 million in net inflows, their biggest in a month, with BlackRock's IBIT taking in $665 million for its largest inflows in over a year. CoinDesk said Fidelity and Grayscale funds saw withdrawals, while ether ETFs lost $103.3 million. Analysts at QCP Capital, cited by CoinDesk, warned that further equity weakness could damp demand and threaten the $80,000 support level. ### [Mt. Gox trustee extends repayment deadline to October 2027, with about 34,388 BTC still held]() Mt. Gox rehabilitation trustee Nobuaki Kobayashi, in a notice reported by Decrypt, pushed the repayment deadline to October 31, 2027, the fourth one-year extension, saying many creditors have not completed the required procedures. Arkham data cited in the report shows wallets linked to the estate hold about 34,388 BTC, worth roughly $2.8 billion, with no transfers since June. ### [Bitcoin slips to about $81,400 as Asian chip stocks fall]() CoinDesk reported that bitcoin slipped about 0.5% to around $81,400, even after U.S. spot bitcoin ETFs drew $526.6 million on the prior day, their largest daily inflow in nearly a month. The publisher tied the tone to Asian equities, where South Korea's Kospi index fell 3.73% and chipmakers SK Hynix and Samsung Electronics declined amid renewed worries over AI spending. Nasdaq 100 futures fell 0.31%, ether fell 0.9% to near $2,385, and the DeFi sector index dropped 1.2%. ### [CryptoQuant Data Shows Over 6 Billion XRP Moved to Exchanges in 30 Days]() Cointelegraph reported that more than 6 billion XRP reached exchanges tracked by CryptoQuant in the 30 days to Oct. 19, citing CryptoQuant data. According to the report, that is the largest 30-day exchange inflow since March, and it coincided with large holders moving to the sidelines. The figures come from exchange data cited by the publisher rather than a statement by the XRP project. ### [Upbit notice addresses market support for Metaplex's MPLX in the Korean won market]() An Upbit notices listing titled "Market Support for Metaplex(MPLX) (KRW Market)" references the token's Korean won market on the exchange. The notice as surfaced gives no further detail on what the support consists of; no other sourcing names specific figures or conditions. ### [JPMorgan gives bitcoin a 10% annual return forecast in first long-term outlook]() J.P. Morgan Asset Management's 2027 Long-Term Capital Market Assumptions, the report's 31st edition and the first to include bitcoin, projected a 10% compound annual return for bitcoin over 10 to 15 years, Decrypt and The Block reported. That tops the firm's projections for U.S. large-cap stocks at 7.5%, gold at 5.5% and a 60/40 portfolio at 7%, per Decrypt, which said JPMorgan pegged bitcoin's annualized volatility at 55%. ### [US spot Bitcoin ETFs log largest daily inflow in nearly a month]() US spot Bitcoin ETFs took in about $527 million on Monday, their biggest day since Sept. 22, according to Decrypt's ETF tracker and SoSoValue data reported by CoinDesk. BlackRock's IBIT supplied $665.2 million, its largest daily inflow since Oct. 7 last year, while Fidelity's FBTC lost $83.6 million and Grayscale's GBTC lost $54.9 million. ### [Bitcoin Magazine reports 219 verified Bitcoin-accepting merchants in Arizona]() Bitcoin Magazine described a first-time Lightning payment experiment in Scottsdale and said a growing directory lists over 219 verified Bitcoin-accepting merchants across Arizona. The article also said the state government passed a Strategic Arizona Bitcoin Reserve in 2025 but that, as far as the author understands, the state has not bought any coins. - [Security]() - [Regulation]() - [Exchanges]() - [Project updates]() - [Market watch]() - [General news]() [Full reading list]()