by The cryptocurrency market saw renewed optimism on Monday, October 20, 2025, as Bitcoin (BTC) led gains following dovish remarks from the U.S. Federal Reserve, while Ether (ETH) held steady. Broader altcoin markets remained mixed, with notable activity in XRP and Solana (SOL).
Here’s a comprehensive recap of the crypto landscape as of 9:00 p.m. UTC, including price updates, derivatives trends, and major news shaping the digital asset ecosystem.
Bitcoin and Ether Price Update
Bitcoin (BTC) traded at US$110,837, marking a 1.7% increase over 24 hours. During the day, it dipped as low as US$109,951 and reached an intraday high of US$111,555.
This rebound followed comments from Federal Reserve Chair Jerome Powell, who hinted that quantitative tightening (QT) could end soon, with rate cuts under review. The softer tone raised hopes that liquidity conditions might improve, benefiting risk assets like cryptocurrencies.
Analysts suggest that this shift could reinvigorate capital flows into crypto markets. The improved sentiment also coincides with progress in U.S.-China trade relations, as Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng prepare for diplomatic meetings aimed at easing tensions.
Trader Ted Pillows commented that the current macro backdrop could trigger a rotation from gold to Bitcoin, particularly if inflation data softens and a trade deal materializes.
On-chain metrics continue to indicate medium-term bullishness, with potential price targets between US$186,000 and US$192,000 in the coming months. However, short-term resistance remains around the US$124,000–126,000 range, while support near US$110,000 is crucial. A decisive drop below that could push Bitcoin temporarily under US$100,000.
Bitcoin’s market dominance now stands at 59%, reflecting its continued leadership. Meanwhile, the Fear and Greed Index improved slightly to 30, signaling a modest shift toward optimism.
Ether (ETH) traded at US$3,983.33, down 0.1% over the last 24 hours. The asset fluctuated between US$3,926.31 and US$4,046.85. Despite minimal movement, analysts view Ether’s resilience as a sign of market consolidation ahead of potential breakout catalysts, including Layer 2 growth and staking demand.
Altcoin Highlights
Altcoin performance remained mixed, reflecting a cautious but active trading environment:
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Solana (SOL) traded at US$188.94, unchanged over the past 24 hours. The token saw daily lows of US$186.13 and highs of US$192.70.
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XRP climbed 5.5% to US$2.53, marking its highest value of the day. Its intraday low was US$2.43, signaling renewed investor interest following corporate developments in the XRP ecosystem.
ETF and Derivatives Market Trends
Derivatives data reveal that traders are remaining cautious despite Bitcoin’s price recovery.
Over the last four hours, approximately US$17.08 million in Bitcoin contracts were liquidated—mostly long positions—indicating ongoing risk aversion. Ether derivatives saw similar patterns, with US$16.62 million in liquidations, although these were more evenly split between longs and shorts.
Futures open interest declined slightly for Bitcoin by 0.63% to US$72.17 billion, while Ether’s open interest rose 0.68% to US$44.09 billion, hinting at a mild rotation into altcoins.
Perpetual funding rates remained positive at 0.004 for Bitcoin and 0.008 for Ether, suggesting a modestly bullish sentiment among traders. Bitcoin’s Relative Strength Index (RSI) stood at 59.31, showing neutral-to-positive momentum with room for growth before reaching overbought conditions.
Key Crypto News of the Day
1. Top Crypto Executives to Meet with Senate Democrats
A closed-door meeting is scheduled between leading crypto executives and U.S. Senate Democrats to discuss stalled crypto legislation.
Organized by Senator Kirsten Gillibrand, the meeting will include Coinbase CEO Brian Armstrong, Galaxy Digital’s Mike Novogratz, and Ripple’s Stuart Alderoty, among others.
Gillibrand, co-author of the Responsible Financial Innovation Act, has emerged as a leading Democratic advocate for crypto regulation and market clarity. However, political analysts note that partisan divides have slowed legislative progress, with meaningful reform likely delayed until after the midterm elections.
While Republicans push for clearer jurisdiction between the SEC and CFTC, Democrats are reportedly drafting a new framework emphasizing DeFi oversight—a sign of diverging priorities within Congress.
2. CleanSpark Expands into Artificial Intelligence
CleanSpark (NASDAQ: CLSK) shares surged 6.65% after the Bitcoin-mining company announced a strategic expansion into AI data centers.
The firm appointed Jeffrey Thomas, former president of AI data centers at Saudi-based Humain, as Senior Vice President to lead the initiative. CleanSpark plans to repurpose its existing Bitcoin mining infrastructure—including power assets and real estate—for AI compute operations.
By leveraging its infrastructure-first model, the company aims to reduce capital costs and accelerate AI deployment. Its first AI-ready site will be located in College Park, Georgia, with plans to develop giga-campuses nationwide.
This move reflects a broader industry trend of Bitcoin miners pivoting toward AI and high-performance computing to diversify revenue streams amid volatile crypto markets.
3. Evernorth’s SPAC Deal to Build XRP Treasury
Evernorth Holdings announced plans to go public through a SPAC merger with Armada Acquisition II, after which the new entity will trade on Nasdaq under the ticker XRPN.
The deal, expected to generate over US$1 billion, will fund one of the largest XRP treasuries in the world. Backers include SBI Holdings, Ripple, Pantera Capital, Kraken, and GSR.
CEO Asheesh Birla explained that Evernorth aims to provide investors with exposure to XRP’s ecosystem, combining traditional finance yield strategies with DeFi yield opportunities. The company’s approach seeks to generate shareholder returns while promoting XRP’s adoption and utility.
4. Japan’s Banks Consider Holding Bitcoin
Japan’s Financial Services Agency (FSA) is reviewing regulations that prevent domestic banks from holding cryptocurrencies. The move follows growing interest among the country’s major financial institutions, including MUFG, SMFG, and Mizuho, to integrate crypto and stablecoin operations.
The potential policy change would allow banks to directly hold Bitcoin and other unbacked digital assets on their balance sheets—a major step toward mainstream financial adoption.
This comes as Japan’s crypto adoption rate continues to climb, with over 12 million registered accounts as of early 2025—triple the number from five years ago.
5. UK Opens Retail Access to Bitcoin and Ether ETPs
In a landmark decision, the UK Financial Conduct Authority (FCA) has lifted a four-year ban on crypto exchange-traded products (ETPs), enabling retail investors to access Bitcoin and Ether exposure through regulated exchanges.
Asset managers 21Shares, Bitwise, and WisdomTree joined BlackRock’s iShares to launch physically backed Bitcoin and Ether ETPs on the London Stock Exchange.
This change allows investors to trade crypto ETPs through brokerage accounts and tax-efficient wrappers like ISAs and SIPPs, significantly expanding retail access to digital assets in the UK.
However, crypto derivatives trading for retail clients remains restricted as the FCA continues refining market-wide regulations expected to be finalized by 2026.
Final Thoughts
The crypto market began the week with renewed optimism, fueled by monetary policy shifts, regulatory dialogues, and corporate diversification into AI and blockchain ventures.
With Bitcoin regaining momentum, Ether consolidating, and governments worldwide revisiting crypto policies, the market’s medium-term outlook remains positive.
Investors should, however, stay alert to short-term volatility as global macroeconomic factors and legislative developments continue to shape the future of digital assets.
FAQS
1. What caused Bitcoin’s price rebound on October 20, 2025?
Bitcoin’s rise was driven by dovish signals from the U.S. Federal Reserve suggesting an end to quantitative tightening, improving investor sentiment toward risk assets like cryptocurrencies.
2. Why is CleanSpark expanding into artificial intelligence?
CleanSpark is diversifying its business by converting existing Bitcoin mining infrastructure into AI data centers to boost long-term revenue and reduce dependence on crypto market volatility.
3. What’s the significance of the UK allowing Bitcoin and Ether ETPs?
The UK’s decision to lift its ban gives retail investors regulated access to Bitcoin and Ether through exchange-traded products, marking a major step toward mainstream crypto adoption.
