<\/p>\n
Bitcoin erases nearly all of Tuesday\u2019s gains as the Trump administration reportedly considers a potential escalation in its trade war with China.<\/p>\n
After Tuesday\u2019s quick rally following Fed governor Christopher Waller\u2019s upbeat comments on crypto, markets fell sharply on Wednesday, Oct. 22, as reports surfaced that the Trump administration may limit a wide range of tech exports to China in response to Beijing\u2019s rare-earth metals restrictions, sending U.S. stocks lower.<\/p>\n
Bitcoin (BTC<\/a>) has fallen back to around $108,000, erasing most of its 5% rally from the previous day that briefly pushed prices near $114,000.<\/p>\n Ethereum (ETH<\/a>) also pulled back, down over 5% in 24 hours to about $3,839, while Solana (SOL<\/a>), BNB<\/a>, and XRP<\/a> and other altcoins in the top 10 by market cap are all in the red, down between 1% and 6%.<\/p>\n As Glassnode explained in an X post<\/a>, long-term holder (LTH) supply has declined by another 28,000 BTC since Oct. 15, meaning \u201cLTHs have spent more coins than what was aging into their cohort from short-term holders,\u201d which reflects \u201cexcessive net distribution rather than passive maturation.\u201d<\/p>\n Meanwhile, QCP Capital analysts say tension headlines \u201cpersist but the tone is increasingly mixed, with tariff threats offset by renewed \u2018deal\u2019 talk.\u201d In a Wednesday blog update<\/a>, they also noted that \u201cthe only major hard data the Fed will see in the near term is September CPI, which the BLS made a one-off exception to publish on Friday, October 24. All other releases will remain frozen until the shutdown ends.\u201d<\/p>\n Among the Top 100 crypto assets by market cap, ChainOpera AI (COAI) is the biggest gainer today, up 42%, followed by MemeCore (M), up 5.6% on the day.<\/p>\n Meanwhile, today\u2019s biggest losers are ASTER and Mantle (MNT), down 15% and 10% respectively.<\/p>\n Data from Coinglass<\/a> shows that in the past 24 hours, more than $619 million in leveraged positions were liquidated, with $472 million in long positions and $147 million of shorts wiped out. Bitcoin led with $210 million liquidated, followed by $157 million in Ethereum and $51 million in Ethena\u2019s ENA token.<\/p>\n On Tuesday, Oct. 21, spot Ethereum ETFs saw inflows of over $141.6 million, according to SoSoValue<\/a>. Spot Bitcoin ETFs, in the meantime, recorded over $$477 million in net inflows, bringing total net assets above the $151 billion mark.<\/p>\n On the macro front, reports say the Trump administration is considering limits on tech exports to China in response to Beijing\u2019s latest rare earth restrictions, Reuters has learned<\/a>, citing a U.S. official and three people briefed by authorities.<\/p>\nBig Movers and Liquidations<\/h2>\n
ETFs and Macro Conditions<\/h2>\n