- Market cap hits $4.07T, sentiment neutral with Fear & Greed 51.
- Bitcoin nears $118,500, while Ethereum targets resistance at $4,505 ahead.
- XRP whales bought 250M tokens, long-term holders continue steady accumulation.
The crypto market opened October on a strong note, with traders celebrating what has become known as “Uptober.” Global market capitalization has climbed to $4.07 trillion, up more than 4% in the last 24 hours, while overall sentiment is steady at neutral with the Fear & Greed Index at 51.
Bitcoin rose 3.5% on the day to trade near $118,500. Ethereum followed with a 5.6% increase, pushing above $4,380, while XRP traded at $2.97 after a 4% daily gain. Binance Coin climbed 2.4% to $1,036, and Solana posted one of the stronger moves, adding more than 6% to reach $223. Dogecoin also stood out among the top tokens with a near 10% daily surge.
According to analyst Ali Martinez, long-term holders continue to accumulate, with more than 3,800 BTC bought in the past month. Despite the gains, technicals hint the market is close to overbought territory, with the average crypto RSI at 63.29.
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Ethereum Price Nears Important Level
Martinez also observed$4,505 as a key resistance level for ETH, saying that a breakout above this point could trigger further upside.
In the short term, Ethereum is holding strong. ETH continues to bounce from the $3,900–$4,100 area. This zone has shown strong demand, making it a crucial support level.
The next short-term resistance is in the $4,470–$4,500 range. If Bitcoin continues its breakout, Ethereum could also follow. The recent breakout zone at $4,250–$4,280 is now likely to act as a new floor.
XRP Whales On Buying Spree?
XRP is holding near $2.97, with strong volume and market interest. Long-term holders are accumulating, while some short-term traders face liquidation amid price volatility.
Over the past 48 hours, whales have purchased 250 million XRP. While some fear Bitcoin may have peaked, most analysts like Martinez expect further upside, which could rotate into altcoins like XRP and Ethereum.
Earlier today: XRP Price Nears Breakout as Ripple Locks 200 Million XRP in Escrow
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Source: https://coinedition.com/uptober-rally-sees-btc-eth-and-xrp-drive-altcoin-gains/