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First Mover Americas: Bitcoin, Ether Remain in Tight Price Range
The latest price moves in crypto markets in context for Oct. 25, 2022.
Updated Oct 25, 2022, 12:21 p.m. Published Oct 25, 2022, 12:21 p.m.
This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.
Price Point
Bitcoin (BTC) and ether (ETH) continued to trade in a tight trading range Tuesday with traders expecting prices to remain unchanged for another week as there are no potentially risky events or catalysts on the horizon.
STORY CONTINUES BELOW
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Traders are focusing on next week’s Federal Reserve rate decision where the Fed is expected to hike by 75 basis points again. After that, traders are expecting the consolidation phase for cryptocurrencies to remain.
“Currently, I am leaning towards excluding a rally to the upside, and I expect the consolidation phase to stay,” Matteo Bottacini, a trader at Crypto Finance AG, wrote in a morning note. “I wouldn’t be surprised if we again test May/June lows for both BTC and ETH."
Bitcoin reached lows of $18,900 in May, and ether dropped to lows of $880 in mid-June.
In traditional markets, U.S. stock futures were little changed after the Dow Jones Industrial Average reached its highest closing level in six weeks on Monday.
Bitcoin market share hits two-year high
According to data from Kaiko, bitcoin’s market share of trade volume has hit its highest level in over two years.
The share of bitcoin volume versus volume for altcoin markets aggregated across 14 centralized exchanges climbed past 50% for the first time since 2020, according to a research report by Kaiko.
“Bitcoin dominance has increased sharply since April, which suggests that sentiment has turned predominantly bearish after the collapse of Terra’s ecosystem and the wave of high-profile bankruptcies over the summer,” the report stated.
CoinDesk Market Index
Biggest Gainers
Asset Ticker Returns DACS Sector Ribbon Finance RBN +7.87% DeFi Axie Infinity AXS +6.48% Culture & Entertainment My Neighbor Alice ALICE +3.74% Culture & Entertainment
Biggest Losers
Asset Ticker Returns DACS Sector Rally RLY -3.88% Culture & Entertainment Aave AAVE -2.99% DeFi Polymath POLY -2.78% DeFi
Sector classifications are provided via the Digital Asset Classification Standard (DACS), developed by CoinDesk Indices to provide a reliable, comprehensive and standardized classification system for digital assets. The CoinDesk Market Index (CMI) is a broad-based index designed to measure the market capitalization weighted performance of the digital asset market subject to minimum trading and exchange eligibility requirements.
Chart of the Day
By Omkar Godbole
- The S&P 500's weekly chart has flipped bullish in a positive sign for risky assets, including cryptocurrencies.
- The chart tweeted by FS Insight's Matt Cerminaro shows a bullish divergence of the 14-week relative strength index (RSI), a popular technical indicator.
- Bullish RSI divergence occurs when the price makes a lower low, but the RSI makes a higher low, indicating a trend reversal higher.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Crypto Markets Today: Bitcoin Stuck in Post-Fed Range as Altcoins Slump Deepens
Bitcoin remains trapped in a range despite the U.S. rate cut, while altcoins and memecoins struggle to attract risk appetite amid shifting investor behavior.
What to know:
- BTC briefly dipped below $90,000 after Wednesday's 25 basis-point U.S. rate cut before rebounding, but price action lacked a clear fundamental catalyst.
- Tokens such as JUP, KAS and QNT posted double-digit weekly losses, while CoinMarketCap’s altcoin season index fell to a cycle low of 16/100.
- CoinDesk’s Memecoin Index is down 59% year-to-date versus a 7.3% decline in the CD10, highlighting a shift from retail-driven hype to more institutionally led, slower-moving markets.
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