Crypto Market Crash Today [ LIVE] Updates October 11th

Following a new all-time high (ATH) of $126,199 on Binance, Bitcoin (BTC) is now consolidating in the low $120,000 range. Latest exchange data – such as Cumulative Volume Delta (CVD) Confirmation Score – suggests that BTC is benefitting from strong underlying demand.

CVD Confirmation Shows Strong Demand For Bitcoin

According to a CryptoQuant Quicktake post by contributor Arab Chain, Bitcoin’s CVD Confirmation Score – a 30-day rolling correlation between Bitcoin’s price and the CVD – is suggesting a strong resynchronization of the trend.

For the uninitiated, the CVD Confirmation Score measures the 30-day correlation between Bitcoin’s price and the CVD, which tracks the net difference between taker buy and sell volumes on exchanges. A high score (above 0.7) indicates that price increases are backed by real buying pressure, while a low or negative score suggests weak or speculative momentum.

Latest data from Binance shows that the CVD Confirmation Score currently hovers around 0.8 to 0.9, indicating that the current price surge is largely driven by genuine taker buying rather than a technical bounce or a short squeeze.

Past data also suggests that whenever this data point has remained about 0.7 for an extended period, price corrections tend to be relatively shallow and short-lived. This is because new liquidity in the market quickly absorbs any incoming supply of BTC.

The CryptoQuant analyst remarked that if the CVD Confirmation Score continues to hover above 0.7 – coupled with a decisive breakout above the $124,000 – $126,000 resistance zone – then it could be on its way to a potential target of as high as $135,000.

However, any negative divergence with BTC price rising and CVD Confirmation Score dropping below 0.4 should be seen as a warning sign, as it increases the likelihood of distribution or liquidation pressure.

Conversely, the $112,000 – $115,000 and $108,000 – $110,000 stand out as strong support levels for BTC. At these price levels, the CVD Confirmation Score should remain steady to ensure the uptrend remains intact. Arab Chain added:

Is BTC Due For A Correction?

While bulls are hoping for an extended rally for BTC, some analysts aren’t quite convinced about the digital asset surging to new highs in the near term. For instance, crypto analyst ZVN recently stated that BTC may witness a pullback before its next surge to $150,000.

Similarly, fellow crypto analyst Dick Dandy recently predicted that BTC may witness a massive 60% price correction, falling all the way down to $43,900. At press time, BTC trades at $118,791, down 1.8% in the past 24 hours.

On-chain data shows the 30-day netflow of the XRP whales has remained deep negative recently, a sign that the asset is under persistent selling pressure.

XRP Whale Flow Is At A Negative $50 Million Per Day At The Moment

As explained by CryptoQuant community analyst Maartunn in a new post on X, XRP whales have been offloading coins recently. “Whales” refer to the big-money investors who hold significant amounts in their wallets and carry some influence in the market.

The behavior of these key investors can often be worth keeping an eye on, as even if it may not always directly correlate with the asset’s trajectory, it can still be revealing about how the influential entities are feeling about the cryptocurrency.

There are many ways to track the behavior of the XRP whales, with one such being the metric cited by Maartunn: the Whale Flow. This indicator measures the net amount of coins that’s entering into or exiting out of the wallets of this cohort.

Below is the chart shared by the analyst that shows the trend in the 30-day moving average (MA) of the XRP Whale Flow over the last few years:

As is visible in the above graph, the 30-day MA XRP Whale Flow plunged to a highly negative value in July as the coin reached its top above $3.6. This suggests that the large holders took the opportunity of the rally to participate in profit-taking.

Interestingly, since this plummet in the indicator, its value has remained at a similarly red value until today, meaning that the whales have only continued to apply selling pressure.

At present, the metric is sitting at a negative value of $50 million per day, meaning that whales have been withdrawing an average of $50 million every day for the past month. This could be a reason why the cryptocurrency hasn’t seen any big rally recently, while Bitcoin and other coins have been flying.

In some other news, analyst Ali Martinez has identified a price level that could help turn XRP around. As the below chart shared by Martinez in an X post shows, the coin has seemingly been trading inside a Parallel Channel over the last couple of months.

A Parallel Channel is a technical analysis (TA) consolidation pattern that forms when an asset trades between two parallel trendlines. The lower level of the pattern acts as a support line. From the chart, it’s visible that in the case of this XRP Parallel Channel, it’s situated at $2.73.

The analyst has noted that if this support level holds, the coin could see a rebound to the upper level at $3.10.

XRP Price

At the time of writing, XRP is trading around $0.745, down more than 11% over the last week.

Litecoin (LTC) ripped as much as 11% to $129–$131, outpacing Bitcoin and Ethereum during a market pullback as fresh spot ETF momentum stoked bids. Trading volume exploded 143% to $1.66B, while futures open interest jumped 25% to $1.21B, signaling new leverage and renewed directional conviction.

The catalyst is linked to the growing confidence that a U.S.-listed spot Litecoin ETF could be near the finish line. Canary Capital’s updated S-1 now includes ticker LTCC and a 0.95% fee, the kind of last-mile filing detail ETF watchers say typically appears “before go-time.”

With Grayscale and CoinShares also in the hunt, analysts argue LTC’s commodity-like profile and long proof-of-work history make it one of the cleaner alt candidates for regulated fund access once the SEC resumes normal operations.

Litecoin Technical setup: $130 reclaim tees up $135–$138

On the charts, Litecoin blasted through the $127.45 swing high and reclaimed stacked moving averages (7- and 30-day SMAs), turning the multi-month range from ceiling to potential floor. RSI (68) shows strong momentum without a blow-off, and MACD remains firmly positive.

Immediate resistance sits at $130–$131; a daily close above opens a path to $134–$135, then $138 and $150. Should FOMO follow an ETF headline, bulls point to a broader vacuum up to the $150–$160 zone, Litecoin’s highest region since early 2022.

On higher time frames, some technicians note a breakout from a year-long diagonal that, if confirmed, preserves a stretch target toward $275 over the coming months; that scenario likely requires sustained ETF-driven inflows.

Ethereum is trading at critical price levels after a sharp 10% decline from the $4,750 mark, reflecting growing uncertainty across the broader crypto market. The recent correction has pushed ETH toward the $4,300 support zone, a level that bulls are now fiercely defending to prevent a deeper retracement. Despite the pullback, on-chain data suggests that large holders remain confident, signaling that this dip may be part of a healthy market reset rather than the start of a downtrend.

According to recent data, Bitmine continues its aggressive accumulation of ETH, adding to its holdings even as prices fluctuate. This steady inflow from institutional players highlights strong conviction in Ethereum’s long-term fundamentals, particularly as the network maintains dominance in DeFi and smart contract activity.

Still, sentiment among retail traders remains mixed. Some fear that sustained weakness below $4,300 could trigger another wave of selling pressure, while others see this as a potential accumulation opportunity before the next major move. As Ethereum stabilizes at these levels, the coming days will be crucial to determine whether the market resumes its bullish momentum or enters a prolonged consolidation phase amid heightened volatility.

Ethereum Accumulation Continues As Bitmine Strengthens Its Position

According to data shared by Lookonchain, institutional accumulation around Ethereum remains strong despite recent market volatility. Just a few hours ago, Bitmine received another 23,823 ETH (worth $103.68 million) from BitGo, marking yet another significant inflow of capital. This move comes only two days after Bitmine acquired 20,020 ETH ($89.7 million) via FalconX, underscoring their consistent strategy of building exposure during price dips rather than chasing rallies.

Such accumulation patterns are often seen as a sign of confidence in Ethereum’s long-term fundamentals, particularly from institutional investors who view ETH as a core asset within the broader digital economy. While short-term sentiment remains cautious after the recent correction, these inflows suggest that smart money continues to see value around current prices.

The coming days will be critical for Ethereum’s technical structure. Bulls must defend the $4,300 support zone to maintain momentum and set up a potential recovery toward the $4,600–$4,750 resistance area. A strong defense here could pave the way for a new all-time high, confirming renewed investor confidence and establishing $4,300 as a key accumulation level.

Bulls Defend $4,300 Support

Ethereum (ETH) is currently trading near $4,325, showing signs of consolidation after a 10% decline from its recent high of $4,750. The 12-hour chart reveals that ETH has fallen below the 50-day moving average (blue line), signaling short-term weakness, while the 100-day (green) and 200-day (red) moving averages are still trending upward — a sign that the broader uptrend remains intact.

The $4,300 level now acts as a key support zone, with bulls attempting to establish a base and prevent further downside pressure. If this level holds, the next target would be a retest of $4,500–$4,600, where sellers are likely to reappear. However, a break below $4,250 could expose Ethereum to a deeper pullback toward the $4,000 psychological level, an area that previously served as a strong accumulation zone in late September.

Momentum indicators suggest that selling pressure is easing, aligning with the recent on-chain data showing continued accumulation from large entities such as Bitmine. This reinforces the idea that institutional confidence remains strong, even amid volatility. For now, holding above $4,300 is critical — a successful defense could mark the foundation for Ethereum’s next push toward new highs.

Featured image from ChatGPT, chart from TradingView.com

Bitcoin’s price may recover up to 21% over the coming seven days if October’s historical trends hold, an economist suggests.

“Drops of more than 5% in October are exceedingly rare. This has happened only 4 times in the past 10 years,” economist Timothy Peterson said in an X post on Friday.’

He said those instances occurred in October 2017, 2018, 2019, and 2021. In the week following each drop, Bitcoin (BTC) rebounded by 16% in 2017, 4% in 2018, and 21% in 2019. The only exception was 2021, when the crypto asset fell a further 3%.

October is often dubbed “Uptober” for its historically strong returns.