The cryptocurrency market on October 28 is showing a measured recovery: leading digital assets opened the day in the green, while the institutional agenda shifted toward regulatory risks and corporate security incidents.
Dynamics of Market Cap Leaders
Bitcoin (BTC) began the trading session with gains. As of 07:35 (Moscow time), the first cryptocurrency is trading at $80,931 (about ₽6,517,430 per token). The intraday 24-hour low was $79,380, and the high was $81,181.
The second-largest cryptocurrency by market cap, Ethereum, also opened the day higher. The coin is trading at $2,354 (approximately ₽189,569 per token).
Altcoins: Zcash Leads, Solana Under Pressure
Among the top 10 largest cryptocurrencies, the best 24-hour performance was recorded by Zcash (+8.58%), which also leads over the week (+5.02%). The largest weekly losses were posted by Solana (-3.83%). Over the past 24 hours, all top-10 coins except stablecoins gained value.
In the top 100, the best 24-hour (+13.62%) and weekly (+45.44%) performance was shown by MemeCore. The biggest 24-hour decliner was Quant (-1.90%). The largest weekly losses were recorded by Worldcoin (-26.56%).
Liquidations: Short Positions Hit Hard
Over the past 24 hours, positions of 62,107 traders were liquidated for a total of $152.89 million. The main blow fell on short positions — $108.52 million versus $44.37 million in longs. The largest single liquidation order was executed on Binance on the ETH-USDT pair for $9.39 million.
Crypto Companies on the Stock Market
Among publicly traded crypto-related companies, the best performers were SoFi Technologies (SOFI) — up 13.42%, IREN (IREN) — up 7.90%, and Hut 8 (HUT) — up 6.94%. TeraWulf (WULF) rose 5.68%, BitMine Immersion (BMNR) gained 3.20%, and Circle (CRCL) added 2.18%. Only GameStop (GME) shares declined — by 2.26%.
Sentiment: Market Remains in Neutral Zone
The Fear and Greed Index rose to 51 points, remaining in the neutral zone. A day earlier the reading was 48 points, and a week ago it was 63 points (greed zone). A month ago the index stood at 74 points.
Regulatory Fog and Corporate Risks
Robinhood CEO Vlad Tenev believes that uncertainty in U.S. tokenization rules is preventing investors from committing serious money to it. He called the SEC's temporary exemption permitting trading in tokenized shares a positive step, but stressed that market participants do not understand what will happen in five years, so full-fledged rules or legislation are needed. The statement came against the backdrop of a weak quarterly report: Robinhood's crypto revenue fell 55% year-over-year to $120 million, while revenue from prediction markets grew sixfold to $173 million. Total revenue reached a record $1.42 billion but fell short of analyst expectations.
South Korean exchange Bithumb is assessing the scale of a data leak following a breach of an internal mobile system for employees. The incident was discovered on Tuesday and reported to regulators the same day. The exchange is checking whether customer data could have leaked and emphasizes that the internal system is separate from the trading system and that attackers had no access to users' crypto assets. The case is part of a wave of cyberattacks on South Korea's financial sector — by mid-October, attacks had affected 16 financial companies, including Mirae Asset and Daishin Securities, which had data on nearly 38,500 clients leaked.
Asset manager VanEck launched the managed exchange-traded fund VanEck Wealth Builder, combining stocks, bonds, real assets, and a small allocation to bitcoin. BTC is planned to account for about 2% of the portfolio, with a range of 1% to 5%. The fund itself does not buy bitcoin — exposure is gained through a spot exchange-traded product. According to the company, adding gold, real assets, and bitcoin will help investors better weather different economic conditions.
Cryptalist Analysis: The market is showing a fragile balance: neutral sentiment at 51 points and liquidations skewed toward shorts point to a cautious rebound rather than a trend change. Bitcoin's resilience above $80,000 amid weakness in altcoins like Solana and Worldcoin confirms capital concentration in the first tier. The institutional backdrop remains mixed — regulatory uncertainty in the U.S. over tokenization and a string of cyber incidents in Asia are holding back capital inflows, while VanEck's cautious steps to integrate bitcoin into classic portfolios signal gradual but not frontal adoption.