Key Notes
- Crypto investors are selling despite the notable macro developments.
- Large traders are betting big on a potential bull run.
- Ethereum investors have accumulated over $780 million over the past two days.
The United States has reportedly reached a trade deal with China, the world’s largest manufacturer.
According to a BBC report on Thursday, Oct. 30, US President Donald Trump reached an agreement with Chinese President Xi Jinping over tariffs and rare earths in a meeting in South Korea.
While the specific details of the trade deal between the two leading economies haven’t been revealed yet, BBC reports that the “fentanyl tariff” has been lowered from 20% to 10%.
The cryptocurrency market witnessed a bloodbath on Oct. 11, with liquidations reaching $19.35 billion, after Trump threatened to increase the tariffs on China by an extra 100%.
With the trade deal, however, the market isn’t seeing a sudden reaction since the traders and investors are still showing signs of uncertainty.
In addition, the US Federal Reserve cut the interest rates by 0.25% on Wednesday, Oct. 29, Coinspeaker reported. The Fed also hinted at ending the quantitative tightening by Dec. 1.
The reduced tariffs and declining interest rates could stabilize global and local supply chains, and potentially increase the appetite for high-risk investments, at least for the short term.
When the Fed cuts rates, borrowing costs drop, liquidity rises, and investors look for higher-return assets, which could also mean having a relatively higher risk.
Historically, the rate cuts have pushed money from bonds and cash into risk assets like Bitcoin, Ethereum, and tech stocks.
This time, the market went the opposite way.
The FUD in Crypto
The cryptocurrency market cap declined by 1.4% in the past 24 hours, currently hovering at $3.76 trillion, despite the Fed rate cut, according to CoinMarketCap data.
Moreover, CMC data shows that the investor sentiment dropped from neutral 42 to 34, indicating fear, uncertainty, and doubt.
The total crypto liquidations increased by 53% to $822 million, according to CoinGlass data. The majority of the wiped out positions, worth $651 million, are longs. Traders who were expecting bullish momentum.
On the other hand, analyst Ali Martinez posted that Ethereum
ETH
$3 899
24h volatility:
2.4%
Market cap:
$470.85 B
Vol. 24h:
$37.60 B
investors have withdrawn over 200,000 ETH from centralized crypto exchanges on Oct. 28 and 29.
200,000 Ethereum $ETH, worth $780 million, have been withdrawn from exchanges in the last 48 hours! pic.twitter.com/zI8juUBwg4
— Ali (@ali_charts) October 30, 2025
According to Lookonchain, whales are still betting on Bitcoin
BTC
$110 060
24h volatility:
2.6%
Market cap:
$2.20 T
Vol. 24h:
$74.01 B
and Ethereum’s bullish momentum.
Despite the market downturn, many whales remain bullish and are going long!
• Trader 0x9553 opened his first position on #Hyperliquid — a 40x long on 179.59 $BTC($19.94M).
• New wallet 0x6988 deposited 1.95M $USDC on #Hyperliquid and opened a 25x long on 4,743 $ETH($18.71M).… pic.twitter.com/HXf7YfbvoO
— Lookonchain (@lookonchain) October 30, 2025
The rise of long positions from whales, as noted by Lookonchain, could potentially trigger positive sentiment among retail investors. However, if long liquidations continue rising, the crypto market might dive into another bearish consolidation or even a bloodbath.
It’s important to note that the rate cut and the US-China trade deal will likely bring inflows to financial markets, including cryptocurrencies.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.
Wahid Pessarlay on X
Source: https://www.coinspeaker.com/crypto-see-another-bloodbath-us-china-deal-effect/