Crypto Market Today (Oct 28): Bitcoin Up 1% as Market Slides 1.3% in 24 Hours

The crypto market slipped 1.3% over the past 24 hours, bringing the total market cap to $2.73 trillion. Bitcoin rose 1.0% to $80,872, while Ethereum also gained 1.0% to $2,345. The decline was driven by a broad sell-off across many large coins, yet the two biggest assets managed to hold their ground and post modest gains.

Market snapshot

Bitcoin’s price of $80,872 marks a modest increase of 1.0% in the last day, though its 7-day change remains negative at -2.5%. Ethereum followed a similar pattern, up 1.0% to $2,345 but down 3.9% over the week. The overall market cap fell 1.3% to $2.73 trillion, and Bitcoin’s dominance sits at 59.5% while Ether holds 10.5% of the market. This dominance figure shows that Bitcoin still accounts for more than half of the total crypto value, a common metric used to gauge how much attention investors give to the flagship coin versus the rest of the ecosystem.

Other major coins showed mixed moves: Solana rose 1.6% to $102, XRP gained 0.7% to $1.32, and BNB jumped 2.0% to $756, the only major with a positive 7-day change (+1.9%). These variations illustrate how different sectors, such as smart-contract platforms, layer-1 blockchains, and exchange tokens, can perform independently. The breadth metric indicates that 55 of 77 large coins (top 100, excluding stablecoins) rose over the last 24 hours, suggesting that while the total cap fell, a majority of large assets were still in positive territory.

Prices from CoinGecko at the time of writing (October 28, 2026).

Top movers today

Among the biggest gainers, Bitway led with a 19.1% rise to $1.73, followed by Pepe up 14.9% at $0.00000494. MemeCore, Bitcoin Cash, and LEO Token also posted double-digit gains, ranging from 4.5% to 6.5%. These tokens are often driven by community hype and short-term trading interest, which can create rapid price spikes.

On the losing side, Venice Token fell 4.9% to $24.41, XDC Network dropped 4.5% to $0.0335, and Dash slipped 3.1% to $53.56. Most of the top losers are mid-cap tokens that tend to be more sensitive to overall market risk sentiment. The contrast between the top gainers and losers highlights how quickly capital can rotate between speculative assets when investors search for short-term opportunities.

Among the top 100 coins by market cap, excluding stablecoins and wrapped tokens.

Flows and sentiment

Stablecoin supply held near $301.5 billion, changing only -0.03% in the last day and -0.68% over the week, indicating relatively stable demand for dollar-linked assets. Stablecoins are often used as a parking place during volatility, so a flat supply suggests that traders are not rushing to convert crypto into cash, nor are they aggressively moving into stablecoins.

DeFi total value locked (TVL) rose 0.9% to $88.9 billion, though it remains down 2.9% over seven days. TVL measures the amount of capital locked in decentralized lending, borrowing, and trading protocols; a small daily increase can signal renewed confidence in earning yields, even as the longer-term trend stays negative.

The Fear and Greed Index moved from 48 (Neutral) yesterday to 51 (Neutral) today, a slight shift toward optimism but still in the middle range, which often reflects a market that is neither overly fearful nor overly greedy. Bitcoin’s funding rate on the OKX perpetual contract was 0.0100% per 8 hours, a low positive rate that can encourage short-term leveraged buying because traders pay a small premium to hold long positions.

Open interest for Bitcoin reached $3.5 billion, up 0.9% in one day, reflecting a modest increase in the total value of outstanding futures contracts. Higher open interest can mean more participants are staking positions, which may amplify future price moves if many contracts need to be settled at once.

Other data at the time of writing.

What is driving the market

CoinDesk reported that Bitcoin rebounded above $81,000 as an Asian chip rally spilled into crypto, and Pepe jumped 9%. While the headline emphasizes a strong Bitcoin bounce, the broader market still posted a net decline, which aligns with the modest 1.0% rise in Bitcoin and the overall -1.3% cap change. The chip rally likely contributed to the positive funding rate and the slight rise in open interest, suggesting that traders are testing higher price levels while still keeping a cautious stance.

Another CoinDesk story highlighted that XRP Ledger developers are proposing zero-XRP wallets for stablecoin payments. XRP’s 0.7% gain and its position within a market where Bitcoin dominance is 59.5% could indicate that developer activity is keeping interest alive, even as the broader market contracts. Readers can learn more about XRP in our XRP Price Prediction 2026 article, which explains how such technical proposals might affect usage.

Stablecoin supply remained flat, and DeFi TVL nudged up, which together suggest that users are keeping assets in stablecoins and decentralized platforms despite the market dip. For newcomers, our DeFi beginner guide explains why TVL matters and how it reflects the health of lending, borrowing, and trading services. The neutral Fear and Greed reading (51) also points to a market that is not overly reactive, meaning that price movements are more likely driven by specific news events rather than broad panic or euphoria.

What to watch

• Watch the upcoming Fed meeting for potential macro-policy shifts that could affect risk appetite across crypto and traditional markets.
• Monitor Bitcoin funding rates and open interest for signs of leveraged positioning that may amplify price moves if the market direction changes.
• Keep an eye on XRP developer updates and any stablecoin-related regulatory news, as both could influence stablecoin demand, token usage, and overall market flow.