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Crypto markets retreat as traders eye support levels after October rally
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Bitcoin and Ethereum fell as crypto markets consolidated, pressured by U.S. enforcement actions and profit-taking after October’s rally.
The cryptocurrency market extended declines with Bitcoin and Ethereum retracing gains from earlier this month. Analysts attributed the weakness to profit-taking and regulatory uncertainty following the U.S. government’s $15 billion Bitcoin seizure. Bitcoin hovered around $107,800 while Ethereum traded near $3,900 as total crypto market capitalization fell below $3.8 trillion. Market participants now watch key support levels near $105,000 for Bitcoin. Despite volatility, institutional flows into ETFs and custodial platforms suggest underlying confidence in long-term digital asset growth.