Crazy train
What's being bought and sold*
TOP TRENDING ASSETS
*Trading activity in the past 24 hours on the Uphold platform, as of 8 a.m. 22nd October 2025.
The combined total of buy and sell percentages can exceed 100% due to customers who engage in both buying and selling the same asset within the 24-hour time frame.
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What’s up
Bitcoin Reels, Rocks, Rinses, Repeats
Bitcoin yesterday darted off from its comfort zone right near $108K and scorched its way to nearly $113.4K only to quickly lose momentum and plunge back below $108K, settling up yet another crucial test of support.
As of 8:06 a.m. (EST) today, the king of crypto saw its spot price hugging $107.5K, down 1% over 24 hours. BTC's unhinged behavior, briefly surpassing $113K and then in a snap surrendering its gains, proved startling and yet not surprising and in the end led to some eye-popping liquidations: more than $650M in leveraged positions got wiped out. Carnage was split evenly between longs and shorts, CoinDesk said.
”BTC’s two-way price action is squeezing both bullish and bearish plays, underscoring challenging market conditions for traders,” CoinDesk added.
What's down
Early October Gash Left A Mark
Over the past month, Bitcoin has shed roughly 4%, or the equivalent of a shaving nick when considering the acute undulations seen in that 30-day span. Yet there remains some post-traumatic stress related to the bloodletting of Friday, October 10. That day, BTC sank to $104K and the crypto market at large endured a record-setting $19B liquidation event.
Forced liquidations are associated with perpetual futures which are running bets that are closely associated with leverage. Leveraged positions on perpetual futures are auto-closed-out by exchanges when traders’ margin levels sink to unacceptably low levels.
“As the dust settles after the massive liquidation event,” Cointelegraph explained, “investors may see it as a buying opportunity. This dynamic may fuel a rally.”
What's next
Cautious Optimism Tip-Toes To Fore
Recent volatility has pushed derivatives activity on some major exchanges to record levels. Traders can’t seem to resist such spirited dueling, with bulls battling bears, fear taking on greed and U.S. trade policy butting heads with China’s.
Despite seemingly prevailing bearish sentiment, there’s data to suggest many market participants view this month's downturn as overdone, said Alexia Theodorou, head of derivatives at Kraken. “Traders,” she told CoinDesk, “are cautiously positioning for potential upside.”
The evenly split flush-away event just witnessed in the past 24 hours (long positions and short positions equally dented) would seem to confirm that traders are taking a more balanced outlook on the coming weeks. Still, for the most part, sentiment remains fragile following that initial wave of capitulation on Oct. 10.
