Crypto markets have halted their steady climb, with many large-cap crypto assets retracing over the past 24 hours and total market capitalization falling below $4.3 trillion this morning. Bitcoin (BTC<\/a>) is trading at $122,674, down 1.8% on the day and about 3% from its recent all-time high above $126,000.<\/p>\n Despite the dip, Bitcoin remains up over 4% so far in October, historically one of its most bullish months<\/a>, Iliya Kalchev, Nexo\u2019s dispatch analyst, pointed out in commentary to The Defiant, adding: <\/p>\n \u201cETF inflows continue to anchor the move: on Tuesday alone, spot Bitcoin ETFs attracted $875 million, extending total inflows to over $60 billion since launch. That momentum underscores persistent institutional appetite even amid short-term volatility.\u201d<\/p><\/blockquote>\n<\/figure>\n Ethereum (ETH<\/a>) is showing the biggest losses on the day among the top-20 assets by market cap, down over 2% to $4,455 today.<\/p>\n All of the top-10 assets are flat or in the red today, with the exception of BNB<\/a>, which is up 1.5% today and continues<\/a> its extended rally<\/a>, holding onto its spot as the third-largest cryptocurrency by market capitalization, reaching a new all-time high above $1,330 just yesterday.<\/p>\n Meanwhile, XRP<\/a> is down about 1.2% to $2.87, with analysts at Santiment saying<\/a> the token is seeing its \u201chighest level of retail FUD since Trump’s tariffs were announced six months ago.\u201d Solana (SOL<\/a>) is also down 0.9% to $222, and TRON is down 1.4% over the past 24 hours.<\/p>\n Within the top-100 assets by market cap, Zcash (ZEC<\/a>) and Mantle (MNT<\/a>) posted the biggest daily gains. ZEC is up over 20% today, continuing its sharp rally<\/a> over the past week, as investor attention returns to privacy tokens. <\/p>\n MNT is up nearly 10%, reaching a new all-time high this morning, after it rallied<\/a> earlier this week on the launch of Mantle-powered crypto app UR. <\/p>\n Meanwhile, today\u2019s biggest losers among the top-100 are pumpfun\u2019s PUMP and stablecoin blockchain Plasma\u2019s XPL<\/a>, which are both down over 7%.<\/p>\n Despite the recent decline across crypto markets, analysts at Glassnode noted in an X post<\/a> on Oct. 7 that with Bitcoin hovering above $117,000, over 95% of the circulating supply is still in profit. <\/p>\n \u201cThis is a hallmark of Euphoria phases, where widespread profitability often fuels accelerated profit-taking and rising market risk,\u201d the analysts added.<\/p>\n Analysts at Galaxy Digital noted in a recent newsletter that they remain \u201coptimistic heading into October,\u201d adding that on the macro side, the prospect of further tariffs \u201craises the risk of a weaker dollar, which historically has supported flows into BTC as a hedge.\u201d<\/p>\n In the past 24 hours, over $624 million in leveraged positions were liquidated, according to Coinglass<\/a>. ETH led the wipeout with over $170 million liquidated, followed by BTC at $153 million and other altcoins totaling more than $67 million.<\/p>\n On Tuesday, Oct. 7, spot ETH ETFs saw over $420.8 million in net inflows, the largest daily inflow since Sept. 29, according to SoSoValue<\/a>. Spot Bitcoin ETFs recorded over $875.61 million in net inflows yesterday, slightly below Monday\u2019s total, which marked the biggest daily inflow of the year so far.<\/p>\n On the macroeconomic front, attention is now turning to the University of Michigan\u2019s preliminary October consumer sentiment and one-year inflation expectations data, due this Friday, Oct. 10, which will serve as one of the few timely reads on consumer mood and inflation trends.<\/p>\n Data from Carlyle, an investment firm that compiles private labor-market indicators during government data outages, suggests that U.S. payroll growth slowed sharply in September, rising by only about 17,000 jobs, well below market expectations, Reuters reported<\/a> yesterday.<\/p>\nTop Gainers and Losers<\/h2>\n
![\"the-defiant\"](\"https:\/\/thedefiant.io\/_next\/image?url=https%3A%2F%2Fcdn.thedefiant.io%2Fpasted-1759939112357-png-f289d655-4033-4bfa-84a0-99e16eb885b1.png&w=3840&q=100\"\/)
Liquidations, ETFs, and Macro <\/h2>\n
![\"the-defiant\"](\"https:\/\/thedefiant.io\/_next\/image?url=https%3A%2F%2Fcdn.thedefiant.io%2Fpasted-1759939112618-png-b9cbc222-999e-495e-845b-08a992733ff9.png&w=1920&q=100\"\/)