Crypto markets posted a mild recovery on the first trading day of October. Bitcoin (BTC) rose from a 24-hour low of $83,510 to $84,750, up 1.485%, while Ether (ETH) held at $2,707, gaining 0.846%. Even so, rising tensions in the Middle East and a jump in U.S. Treasury yields kept the broader tone cautious.
BTC and ETH prices edge higher
Over the past 24 hours, Bitcoin climbed steadily from $83,510 to $84,750. Ether also stabilized above $2,707.
Liquidations hit $187.83 million
According to CoinGlass, total liquidations across the crypto derivatives market reached $187.83 million in the past 24 hours, affecting 65,813 traders. Long liquidations made up $104.35 million, while short liquidations totaled $83.48 million. The largest single liquidation was on Hyperliquid in the ZEC-USD pair, at $3.13 million.
Oil and bond yields add pressure
Two macro factors remained in focus. The U.S. 10-year Treasury yield climbed to 5.342% intraday on Oct. 1, the highest level since April 2002, before pulling back slightly after Federal Reserve Vice Chair Philip Jefferson signaled that rate hikes might be paused.
On the same day, Brent crude rose above $100 as China halted fuel exports and tensions in the Middle East intensified. West Texas Intermediate crude also moved above $91. In an interview with Time, Donald Trump said that if diplomatic talks made no progress, bombing against Iran could be intensified after the midterm elections.
U.S. stocks closed slightly higher on Thursday. The Dow Jones Industrial Average added 0.04% to 50,926.74, the S&P 500 rose 0.20% to 7,666.48, and the Nasdaq Composite gained 0.04% to 26,871.60. Initial jobless claims fell to 197,000, below expectations, pointing to continued labor market strength. Manufacturing PMI slipped from 54.6 to 54.5, while input prices increased, adding to inflation concerns. A shareholder report from Micron showed revenue had quadrupled, and Alphabet launched a new Gemini model, helping lift technology shares.
SOL and XRP also moved up
SOL traded at $118.79, up 0.652%, with a 24-hour high of $119.63. XRP was at $1.4941, up 0.174%. The report said the two tokens showed a similar direction over the past 14 days. SOL recovered gradually from a Sept. 18 low of $101.32, while XRP rebounded from $1.30 on the same date.
Technical levels remain relatively firm
Using Bitcoin’s daily close of $84,880 on Oct. 1 as the basis for technical analysis, RSI14 stood at 64.8, placing it in a relatively strong zone. The close remained above the SMA20 at $81,710, the SMA50 at $77,724, and the SMA200 at $71,360. It also held above the Bollinger mid-band at $81,710. MACD remained in bearish alignment, but the histogram narrowed from the previous day, indicating weaker momentum. Resistance levels were the 30-day high at $87,396 and the upper Bollinger band at $88,814. Support levels were the SMA20 at $81,710, the SMA50 at $77,724, and the 30-day low at $74,968.
Ether closed at $2,706 on the daily chart, with RSI14 at 64.0, also in a relatively strong zone. The close stayed above the SMA20 at $2,621, the SMA50 at $2,453, and the SMA200 at $2,113, as well as the Bollinger mid-band at $2,621. MACD was also in bearish alignment, but the histogram expanded from the previous day, pointing to stronger momentum. Resistance levels were the 30-day high at $2,807 and the upper Bollinger band at $2,843. Support levels were the SMA20 at $2,621, the SMA50 at $2,453, and the lower Bollinger band at $2,398.
Fear and Greed Index slips to 72
The alternative.me Crypto Fear and Greed Index came in at 72 on Oct. 2. That kept it in the “Greed” zone, but down from 74 a day earlier. Over the past eight days, the index has ranged between 70 and 74. The report said the lower reading reflected a pullback in market greed as traders responded to external shocks including oil above $100 and sharply higher yields, though sentiment had not yet shifted into fear.
In the near term, the report identified Federal Reserve rate policy and developments in the Middle East as the two main variables for crypto markets.