Crypto Market Update: Bitcoin, Altcoins Continue Week-long Decline
Here's a quick recap of the crypto landscape for Friday (October 17) as of 9:00 p.m. UTC.
Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrencymarket news
Bitcoin and Ether price update
Bitcoin (BTC) was priced at US$106,495, a 1.7 percent decrease in 24 hours. Its lowest valuation of the day was US$104,747, and its highest was US$107,411.
Chart via TradingView.
Bitcoin price performance, October 17, 2025.
The Bitcoin price remains under pressure. While sizable short liquidations of both Bitcoin and Ether have provided pockets of buying relief, overall market confidence is tempered. Volatility persists, leaving the market poised for further directional cues from key upcoming earnings and economic data releases.
Ether (ETH) was priced at US$3,830.31, a 1.2 percent decrease in 24 hours. Its lowest valuation of the day was US$3,726.31, and its highest was US$3,845.65.
Altcoin price update
- Solana (SOL) was priced at US$181.98, a decrease of 2.1 percent over the last 24 hours. Its lowest valuation of the day was US$177.43, and its highest was US$184.74.
- XRP was trading for US$2.30, a decrease of 1.4 percent over the last 24 hours. Its lowest valuation of the day was US$2.25 and its highest was US$2.31.
Crypto derivatives and market indicators
Bitcoin derivatives metrics indicate a complex market environment with mixed signals.
While short-term buying pressure has occurred, underlying market sentiment remains bearish or neutral, with cautious trading behavior and no strong bullish conviction at this time.
Bitcoin liquidations have totaled approximately US$22.09 million in the last four hours, with short positions making up the majority, signaling a short squeeze or bullish pressure. Ether liquidations show a similar pattern, totaling US$20.86 million during the period, the majority of which were short positions.
Futures open interest for Bitcoin has decreased by 1.56 percent to around US$70 billion, showing strong bearish sentiment. Ether futures open interest was unchanged at around US$44 billion, reflecting market neutrality.
The perpetual funding rate for Bitcoin was -0.009, and for Ether it was -0.015, indicating bearish market sentiment.
Fear and Greed Index snapshot
CMC's Crypto Fear & Greed Index has fallen far into fear territory, dipping to 28 on Friday from an earlier score of 32.
Chart via CoinMarketCap.
CMC Crypto Fear and Greed Index, Bitcoin price and Bitcoin volume.
Today's crypto news to know
Japanese banks launch yen-backed stablecoin
A group of Japan’s largest banks, including MUFG Bank, Sumitomo Mitsui Banking and Mizuho Bank, are reportedly collaborating to launch a yen-backed stablecoin using MUFG’s Progmat platform.
The initiative aims to create an interoperable payment token for over 300,000 corporate clients. MUFG will be the first user for internal settlements. The stablecoin is expected to roll out by year end, potentially establishing Japan’s first unified bank-backed stablecoin network and accelerating crypto adoption in the region’s financial infrastructure.
Uniswap expands to Solana blockchain
Uniswap has expanded its web app to support the Solana blockchain, enabling users to trade Solana-based tokens, the platform announced in a blog post on Wednesday (October 15). This move broadens Uniswap’s reach beyond Ether, lowering transaction costs and speed for DeFi traders using Solana’s high-performance network.
Ripple adds US$1 billion to XRP treasury
Ripple will reportedly add a US$1 billion purchase of its native XRP cryptocurrency to its digital asset treasury.
Sources for Bloomberg said the treasury funds, which will be raised through a special purpose acquisition company, will be used to support Ripple’s ecosystem development, liquidity provision and strategic partnerships, reinforcing Ripple’s commitment to growing XRP’s adoption in global payments.
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Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
