Bitcoin Keeps Reversing. Why Are 80% of Crypto Tokens Falling?

Bitcoin repeatedly reversed in October, slipping below $80,000 last week, recovering toward $84,000 and then falling back toward $81,000. Bitunix’s Oct. 17–23 Token Pulse report found that about 80% of the 300 largest tokens it tracks lost value, with a median weekly return of minus 3.98%, compared with Bitcoin’s 0.71% decline; Cardano, NEAR and SUI fell more than 5%, and Starknet’s STRK dropped 39.2%. US spot Bitcoin ETFs attracted $526.7 million on Oct. 19 and $524.8 million on Oct. 21, then lost $635.6 million the next day, a $1.16 billion swing. The Federal Reserve meets Oct. 27–28 ahead of the Sept. core PCE inflation report on Oct. 29; annual core PCE was 3.0% in August, above the Fed’s 2% target.