by Coinstrooper Crypto Articles
Quick Take
  • The crypto market is down today, with the global market cap falling by 3.8% to $3.97 trillion.
  • Trading volume, however, is up, reaching $190.3 billion.
  • Most major assets are in the red over the past 24 hours, with only a few exceptions among top coins.
  • BTC down 2.7% to $112,508, ETH drops 6.7% to $4,166;

What Happened

TLDR:

9 of the top 10 cryptos are in the red;

BTC down 2.7% to $112,508, ETH drops 6.7% to $4,166;

Market Context

The crypto market is down today, with the global market cap falling by 3.8% to $3.97 trillion. Trading volume, however, is up, reaching $190.3 billion. Most major assets are in the red over the past 24 hours, with only a few exceptions among top coins.

Bitunix warns Trump’s $100K H-1B visa fee may fuel volatility across markets;

At the time of writing, nine of the top 10 cryptocurrencies by market cap are showing 24-hour losses.

Bitcoin (BTC) is trading at $112,508, down 2.7% in the last 24 hours, but still up 2% over the past week.

Despite short-term losses across much of the market, some altcoins continue to show outsized volatility, both to the upside and downside.

Bitunix analysts say President Donald Trump’s proposed $100,000 H-1B visa fee has rattled markets, injecting fresh political risk into an already fragile macro environment.

“This policy is highly political and will likely spark negotiations and litigation between corporations and governments,” the analysts wrote, warning that weakened risk appetite could drive capital toward safer assets like the US dollar and Treasuries.

In crypto, BTC slipped from ~$117,000 to around $114,000, with buyers reappearing near $113,000. “If $111,000 breaks, price may quickly fall toward secondary support at $108,000,” Bitunix said.

Why It Matters

Meanwhile, with October just days away, analysts are debating whether Bitcoin will repeat its strong historical performance, as it has closed in the green 10 out of the past 12 Octobers, earning the nickname “Uptober.” A rally similar to 2017 or 2021 could push BTC to around $165,000 from current levels.

Details

Fear & Greed Index at 47 shows neutral sentiment;

US BTC spot ETFs saw $222.62M in inflows;

US ETH spot ETFs gained $47.75M;

China urged brokerages to pause RWA tokenization in Hong Kong amid regulatory caution;

Crypto Winners & Losers

Ethereum (ETH) has dropped 6.7% on the day to $4,166.40, marking one of the steeper declines in the top 10.

Dogecoin (DOGE) leads the losses, falling 10.7% to $0.238, with a 7-day drop of nearly 10%.

BNB (BNB) is the only coin among the top five posting green on the weekly chart, up 11.1% over the past 7 days despite a 3.9% drop in the last 24 hours.

Among trending tokens, OG saw a massive drop of 26.8% to $4.31, followed by Aster, down 15.1% to $1.46. Avantis also slipped 3.6% to $2.07.

Top gainers include PumpBTC, which surged 140.9% to $0.2175, followed by Merlin Chain up 46.8% to $0.373, and Mavryk Network rising 30.6% to $0.1436.

Trump’s H-1B Fee Bomb Sparks Crypto Jitters

The move directly targets India’s $280 billion IT outsourcing sector, raising the prospect of trade tensions, legal battles, and rising corporate costs.