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Bitcoin Price Today: Stabilization Around $108K
Bitcoin rose on Wednesday but remained near recent lows as cryptocurrency markets continued to struggle to recover from the early-October flash crash.
A broader shift toward risk aversion across financial markets provided little support for digital assets, with the crypto sector largely lagging behind other risk markets this year. Ongoing uncertainty over the U.S. economy and renewed trade tensions with China kept traders away from speculative assets, while a sharp overnight drop in gold prices also failed to attract buyers into crypto.
As of 09:07 Moscow time, Bitcoin was up 0.9% at $108,516.3.
📉 Bitcoin struggles to recover as “Uptober” enthusiasm fades
The world’s largest cryptocurrency fell to a low of $103,000 earlier this month and has since struggled to climb back above $110,000.
Broader crypto markets have also faced headwinds in October, as optimism surrounding “Uptober” — the traditional October crypto rally — has largely faded.
Bitcoin is down about 2% month-to-date, a sharp contrast to last year’s 10% October gain. While early-month enthusiasm brought short-lived profits, they have largely evaporated amid growing risk aversion.
Crypto markets have borne the brunt of the risk-off sentiment, particularly as they continue to lag behind the broader recovery in global equities seen in recent weeks.
🏦 Major Asian stock exchanges reject crypto treasury strategies — Bloomberg
Adding pressure to digital assets, Bloomberg reported that the three largest Asia-Pacific stock exchanges are scrutinizing plans by listed firms to adopt digital-asset treasury strategies as their core business model.
Most notably, Hong Kong’s HKEX has reportedly rejected proposals from at least five companies seeking to shift to digital-asset treasuries, citing its rules against excessive exposure to liquid assets. Similar resistance has been seen in Australia and India.
The report comes amid growing skepticism about the long-term viability of corporate crypto treasuries, a concept popularized by Strategy Inc (NASDAQ:MSTR). Investors are questioning how such firms can maintain long-term profitability from holding digital assets, particularly during prolonged downturns and volatile periods.
Analysts earlier this year also warned of oversaturation in the corporate treasury sector.
💰 Altcoins remain under pressure
The broader crypto market mostly traded flat to lower amid a lack of clear trading catalysts and persistently weak sentiment toward digital assets.
- Ether (ETH) slipped 0.5% to $3,843.59,
- BNB fell 0.7% to $1,061.70,
- XRP lost 1.2%,
- Cardano (ADA) dropped 0.9%,
- Solana (SOL) was unchanged.
Among memecoins, Dogecoin slid 1.2%, while $TRUMP lost 0.7%.
See also: "Bitcoin Options Traders Push BTC Price Up $6,000 Within Hours"
