Morning Minute: Uptober Turns Sour as Crypto Majors Slide

GM!

Today’s top news:

• Crypto majors selloff then rebound into Friday; BTC at $82.7k
• Nearly $1B in crypto longs liquidated over the past 24 hours, ETH leads
• ETF outflows continue as October flips net red
• Citrini publishes crypto basket betting on AI coming onchain; led by DRV, LIT, ETHFI
• Pump.fun introduced Custom Pairs, allowing any Pump token to be paired

$86.8k$84.8k$82.8k$80.7k

24h HighHigh$82,684

24h LowLow$80,427

VolVol$1.6B

Market projectionsOdds by Myriad

📉 Uptober Turns Sour as Crypto Majors Slide

Bitcoin dipped below $81,000 Thursday, Ethereum fell close to $2,400 and the whole top ten board went red on seven days. Uptober is certainly not off to the often-memed start expected.

The damage was worse further down. Zcash fell 11% in a day, NEAR 16%, Pump.fun 11%, Venice Token 10%. Dogecoin and Chainlink are both down double digits on the week.

Spot Bitcoin funds shed $484.9 million on Wednesday, the worst day since the spring, followed by another $244M in outflows yesterday. That flips October negative at minus $400 million for the month. Ethereum funds have now bled money for eight straight sessions, losing $640 million over that stretch. Prices were climbing last week while inflows had already slowed to almost nothing. Rising prices without new money is a thin market, and thin markets give it back fast.