Crypto Market Plunges $360 Billion in October, Solana and Ethereum Lead Decline
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The total cryptocurrency market capitalization experienced a sharp decline in October, shedding approximately $360 billion as it fell from $2.94 trillion to $2.58 trillion.
MissedBlock Desk · 2 min read
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Crypto Market Suffers Significant October Downturn, Wiping Out Billions
The total cryptocurrency market capitalization experienced a sharp decline in October, shedding approximately $360 billion as it fell from $2.94 trillion to $2.58 trillion. Bitcoin saw an 11.37% decrease, marking its second consecutive negative October, a streak not seen since 2011-2012. Major altcoins also registered substantial losses, with Solana down 25.81%, Ethereum off 21.71%, and XRP losing 16.96% over the month.
Bitcoin’s Unusual October Slump
Bitcoin’s price dropped from $87,220 on October 1 to around $77,300 by October 31, a loss of 11.37%. This marks the second consecutive October where the pioneer cryptocurrency has ended the month in negative territory, following a 3.9% decline in October 2025. Historically, October has been a favorable month for Bitcoin, with an average return of approximately 12.9% and positive performance in about 69% of recorded years. The current back-to-back losses are unusual, with the last occurrence being in 2011 and 2012.
ETF Inflows Reverse Amidst Market Pressure
The latter part of October saw increased pressure on spot Bitcoin Exchange Traded Funds (ETFs). While daily data initially showed strong net inflows, such as $526.7 million on October 19 and $524.8 million on October 21, indicating sustained institutional interest, this trend reversed sharply. On October 30, U.S. spot Bitcoin ETFs recorded their largest daily outflow in four months, with net outflows reaching $643.2 million.
Altcoins Face Heightened Selling Pressure
Beyond Bitcoin, other major cryptocurrencies also experienced significant downturns. Ethereum fell 21.71%, from $2,773 to $2,171. Solana recorded the most substantial decline among the leading assets, plummeting 25.81% from $124 to $92. XRP also saw a notable drop of 16.96%, declining from $1.445 to $1.20. The steeper losses in altcoins suggest they faced greater selling pressure than Bitcoin during the month.
Liquidations Surge as Leveraged Traders Suffer
The declining crypto prices intensified pressure on leveraged traders, particularly around October 30. Data from CoinGlass indicated that cryptocurrency liquidations exceeded $1.54 billion within a 24-hour period, with long traders bearing the brunt of the losses, amounting to $1.29 billion. The market also contended with uncertainty stemming from a security incident at Binance, which reportedly had an estimated impact of $6.3 billion.