Crypto Announcement Today, October 31: Halloween Digital currency Plunge Intensifies as BTC Value Dips and Ethereum USD Breaks Support | Is This the End?
If you’ve been keeping an eye on crypto update today, you might have felt the impact of this Halloween crypto downturn. Bitcoin has dipped below $108K but is now gradually recovering. ETH USD is retreating from the $4K threshold, leading many to question whether “Uptober” has been officially called off.
It’s tough out there, undeniably, but history suggests we’ve encountered worse, and significant corrections often precede robust rallies.
A portion of the anxiety was triggered by the Fed’s recent 25bps rate reduction. While many anticipated this, Chair Powell’s subsequent demeanor was more cautious than expected. When central banks appear uneasy, risk assets frequently experience a short-lived downturn.
Rate cuts of 25bps and the Fed aims to conclude QT by December 1st.
Everything seems favorable for crypto.
(Except for the charts) pic.twitter.com/oH7yvf6ZkK
— Sui Ninja (@suininja) October 29, 2025
Interestingly, these same policy developments have previously catalyzed crypto rallies once the chaos subsided. Currently, Bitcoin is testing known support areas, and ETH USD remains near crucial levels where significant rebounds began in earlier years. We are still bullish.
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Reasons Behind the Halloween Crypto Crash
The current crypto downturn likely stems from leveraged trading as exchanges attempt to liquidate long positions. According to Coinglass, roughly $890 million in liquidations hit the market in a single day, with over 80% from long positions. This signifies a considerable washout.
(source – Coinglass)
Historically, such a liquidations clear the path for healthier movements ahead. While smaller investors are frantically selling, large players are discreetly accumulating more assets. This pattern has been observed before.
BREAKING
SMART MONEY IS BUYING THE DIP. pic.twitter.com/fnQLB7YJBM
— DustyBC Crypto (@TheDustyBC) October 31, 2025
Current geopolitical tensions are also not providing relief. When Trump suggested new tariffs on China, global markets reacted negatively, and Bitcoin’s price dropped nearly 18% from its peak. However, since then, diplomatic relations between Trump and Xi Jinping have improved, and China is resuming purchases of US soybeans. This is positive as it helps alleviate inflationary pressures and might give the Fed more leeway in the future, typically a good sign for crypto.
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Maintaining Optimism for Bitcoin Price and Ethereum USD Despite Recent Declines
Here’s what many overlook. No fundamental aspects have deteriorated. The ETH USD chart continues to reflect prior bull market corrections. The BTC price might soon set its sights on the $115,000 price ceiling level. Institutional investment is quietly streaming back, with an increase of 20% in October, and the excitement surrounding Solana’s ETF hasn’t diminished.
It is true that this Halloween has brought its share of fright for the market. However, data indicates this is a recalibration, not a demise. The recent crash may undermine sentiment, yet it likely sets the stage for the next significant upswing.
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What is Concordium Crypto? CCD Price Soars +28% – Is CCD Next 1000X Crypto?
The quest for the next 1000x crypto has taken an exciting turn, as Concordium (CCD crypto) has shown a significant price increase, rising more than 20% in the last 24 hours. The surge in CCD’s price has renewed speculation that this emerging Layer-1 blockchain could be poised for a breakout in the regulated Decentralized finance and enterprise distributed database sectors.
As trading activities spike and partnerships expand internationally, investors are beginning to question: Is Concordium crypto merely a fleeting trend, or does it possess genuine long-term potential?
Read the complete story here.
The post Crypto Announcement Today, October 31: Halloween Crypto Crash Deepens as BTC Price Slides and ETH USD Loses Price floor | Are We Done? appeared first on 99Bitcoins.
