In October, the market value of cryptocurrencies fell from $2.94 trillion to $2.58 trillion, with an evaporated amount of approximately $360 billion.
Bitcoin fell by 11.37%, recording its second consecutive negative month of October since 2011-2012.
Solana fell by 25.81% this month, Ethereum fell by 21.71%, and XRP fell by 16.96%.
As Bitcoin and major altcoins closed lower at the end of the month, the cryptocurrency market lost approximately $360 billion in October. The total market value fell from $2.94 trillion on October 1 to $2.58 trillion on October 31, with Solana and Ethereum experiencing significant declines.
At the same time, large-scale liquidations and the weakening inflow of Bitcoin ETF funds have also increased market pressure.
The market value of the crypto industry has fallen by 12%, with $360 billion wiped out.
The overall crypto market experienced a tough October, with a total market value falling by approximately 12.2%. On October 30th, its market value dropped to $2.52 trillion, wiping out about $420 billion from the beginning of the month, before slightly rebounding to $2.58 trillion.
The pioneer cryptocurrency Bitcoin also saw a decline this month. Its price dropped from $87,220 on October 1 to around $77,300 on October 31, representing a decrease of 11.37%. This is also Bitcoin's second consecutive month of decline in October; previously, in October 2025, it had fallen by 3.9%.
The last times Bitcoin closed lower for two consecutive October months were in 2011 and 2012. What makes this situation unusual is that October is usually a month when Bitcoin performs relatively well. The average return rate for that month is around 12.9%, and in the years for which records are available, about 69% of October closes with gains.
At the end of October, the pressure on spot Bitcoin ETF also became apparent. Daily ETF data shows that on October 19th and October 21st, there were net inflows of $526.7 million and $524.8 million respectively, indicating that institutional demand continues to persist.
However, on October 30th, the trend reversed, with US spot Bitcoin ETF experiencing a net outflow of $643.2 million, marking the largest single-day outflow in the past four months.
Ethereum and Solana lead the decline of major altcoins
Ethereum fell by 21.71%, dropping from $2,773 to $2,171. Solana recorded the largest decline among the major assets, falling by 25.81% with its price dropping from $124 to $92. XRP also fell by 16.96%, from $1.445 to $1.20.
Deeper declines indicate that in October, altcoins faced greater selling pressure than Bitcoin.
$1.54 billion in liquidations exacerbates market decline
As crypto prices fell, traders using leverage faced increasing pressure, especially on October 30th. According to CoinGlass data, the scale of crypto liquidations in the past 24 hours reached $1.54 billion, with long-position traders suffering the greatest losses, amounting to $1.29 billion.
The market is still dealing with the uncertainties brought about by the Binance security incident, with an estimated impact of $6.3 billion.
