it's the early hours of October 28, 2025, and the cryptocurrency market is on a distinct upswing. bitcoin is seeing strong buying interest, hitting $114,439 USDT ($169.4 million upbeat), while Ethereum and other major altcoins are also seeing strong gains. today, we'll take a deep dive into the current state of the crypto market based on the latest market data and highlight key points for investors to keep an eye on.
the current state of the market - major crypto price trends
binance Futures Market Analysis (as of 10/28/06)
cryptocurrency price (USDT) 24-Hour Percentage Change funding Fee trading Volume (USD) USDT 1,940,000,000 +0.0031 +0.0031 151.500 million ETH bNB 4,130.18 +0.0048 +0.0048 183.1,000,000,000 BNB 1,142.94 0.0084% +0.0084 -0.0084 18.0.0084 XRP 2.xRPX +0.0078 +0.0078 18.1,000,000,000 BCH 557.bCH +0.0041 +0.0041 2.0.0041upbit spot market price of major coins
bitcoin is down slightly (-0.07%) at KRW 169.4 million on Upbit, but continues to dominate the market with a market capitalization of KRW 3,264 trillion. ethereum is trading at KRW 6.09 million (-0.65%), with a market capitalization of KRW 713 trillion.
notably, Ripple (XRP) is also making a strong presence in the market, trading at $3,896 with a market capitalization of $225 trillion. solana (SOL) also maintains a market capitalization of 156 trillion won at 294,100 won, cementing its status as a major altcoin.
buy Recommendation Score Analysis
buy recommendation score trend over the last 24 hours
time of Day buy Recommendation Score key Rationale 10/28 05:35 1.79/5.0 BIP-444 controversy, rate cut expected 10/28 04:44 3.79/5.0 citi-Coinbase Partnership, BTC tops 11.5K 10/28 03:40 3.10/5.0 altcoins bounce back, MACD signals improvement 10/28 02:43 3.10/5.0 trump family buys BTC, pardons CZ 10/28 00:43 3.bTC BTC highs expected, IBM platform unveiled 10/27 23:44 3.17/5.0 BTC Expected to Break $120,000overall Rating: Current Buy Recommendation Score 3.2/5.0 (Neutral-Positive)
over the past 24 hours, the Buy Recommendation Score has been trending positive, averaging between 2.5 and 3.8, with the 3.79 score recorded at 04:44 coming on the heels of some big news, including the announcement of Citigroup's partnership with Coinbase and Bitcoin's breakout above $115,000.
technical Analysis - What the charts say about the market's direction
Relative Strength Index (RSI) Analysis
bitcoin's RSI is currently in the 60-65 range, just before entering the overbought zone (above 70). this suggests that there is still upside left, but it also leaves the door open for a short-term correction. Ethereum's RSI reached the 65 level with a strong 1.65% gain, confirming that the technical momentum of altcoins is improving.
MACD (Moving Average Convergence Divergence Index) signals
as mentioned in the history of the Buy Recommendation Score, "MACD indicator improving", the MACD lines of major cryptocurrencies are breaking above the signal line and forming a golden cross. With the "end of the longest bear market in history" signal in the altcoin market, the MACD and the 200-day moving average are simultaneously signaling a rebound, raising the possibility of a medium to long-term uptrend.
Bollinger Bands Analysis
bitcoin is currently showing strong volatility near the top of the Bollinger Bands. the price band of a 24-hour high of 116,380 USDT and a low of 112,800 USDT represents an intraday change of about 3.2%, suggesting that active trading is taking place. the widening of the band suggests that a big price move is expected in the coming days, and the current attempt to break above the top is weighing on the upside momentum.
moving average line analysis
bitcoin is forming a bullish structure with the 20-, 50-, and 200-day moving averages all remaining in a square alignment, with the short-term moving average (20-day) clearly above the intermediate-term (50-day), indicating a solid short-term uptrend. altcoins are also signaling a bounce back above their 200-day moving average, raising the possibility of a medium to long-term bottom.
fundamental Analysis - Key News Moving the Markets
citigroup-Coinbase partnership accelerates institutionalization
the most notable news was global financial giant Citigroup's announcement of a collaboration with Coinbase to develop a blockchain payment infrastructure, a symbolic event that signals the entry of traditional financial institutions into the crypto space and heralds the growing participation of institutional investors in the market. coinbase's stock price surged after the announcement, confirming the market's positive reaction.
improving macroeconomic environment, anticipation of US-China trade talks
ahead of the meeting between President Trump and President Xi Jinping in Busan, expectations for a reduction in US-China trade tensions are rising. this has led to improved global liquidity and increased risk appetite, creating a favorable environment for crypto markets. Expectations of a rate cut ahead of the FOMC are also working in tandem to revive sentiment in favor of Bitcoin.
institutional investor buying intensifies
the buying spree by large investors continues, with the Trump family-linked 'American Bitcoin' buying an additional BTC, MicroStrategy (now Strategy) buying 390 BTC, and David Beckham-related Freenetics raising $48 million in BTC assets. this signals a continued influx of institutional money, further solidifying the market's upside.
signs of an improving regulatory environment
president Trump's decision to pardon former Binance CEO CZ hints at a favorable regulatory environment for the crypto industry, while the fateful day of Ripple ETF approval (SEC meeting on November 1) is approaching, creating positive expectations for XRP and other altcoin markets.
on-chain analytics - what blockchain data really shows
analyzing whale movement and trading volume
bitcoin whale buying continues, raising the possibility of a breakout above $116,000. trading is brisk on Binance Futures, with BTC's daily trading volume of $151.5 billion, while Ethereum's $183.4 billion trading volume is also indicative of strong market liquidity.
on Upbit, Bitcoin has been relatively quiet, with a trading volume of 1,707.862 BTC, while Ethereum has seen an active trading volume of 61,802.413 ETH. Ripple (XRP), in particular, has seen strong investor interest, with a trading volume of over 140 million.
exchange Holdings Trends
the inflow of funds into spot ETFs continues, and the news that Ledn posted record quarterly earnings as demand for bitcoin-backed loans exploded shows that institutional investors are increasingly utilizing leverage.
investor psychology analysis - reading the market's sentiment
crypto Fear & Greed Index (Crypto Fear & Greed Index)
based on recent news flow and buy recommendation scores, we believe the market has entered the 'neutral-greedy' zone (estimated 55-65). Despite scattered negatives such as the BIP-444 liability controversy and Cambodian money laundering allegations, institutional buying and interest rate cut expectations prevail, resulting in an overall positive sentiment.
derivatives Market Analysis - Funding Rate
long positions dominate, but overheating is limited
analyzing the funding rate on the Binance futures market reveals an interesting pattern:
- BTC: +0.0031% (longs dominate, stable level)
- ETH: +0.0048% (longs dominate, healthy uptrend)
- XRP: +0.0078% (long bullish)
- LINK: +0.0100% (long overheating, early stages)
- LTC: +0.0100% (long overheating early stage)
- BNB: -0.0084% (short dominant, corrective pressure)
- TRX: -0.0172% (short bullish)
bitcoin and Ethereum's funding ratios remain positive at 0.0031% and 0.0048%, respectively, indicating longs are dominant, but they are in a healthy state, having not entered the overheating zone below 0.01%. litecoin and Chainlink, on the other hand, have reached 0.01%, suggesting a possible short-term correction.
of note is the negative funding ratio for BNB and TRX, which means that short investors are funding long investors, leaving the door open for a short squeeze, which could lead to a surge in momentum.
analyzing liquidation data
the news that "crypto market sees historic liquidation of 19 trillion won, XRP hit hardest" shows the high volatility of the market recently. mass liquidations are typically a process of unwinding overly leveraged positions, creating an environment where the market can subsequently rise on a healthier footing.
options market and put/call ratios
bullish bets are also on the rise in the options market, with a 62% spike in Dogecoin trading volume, a whale move, and a $150,000 year-end prospect riding a short squeeze. a $400 million BTC bet ahead of the Trump-Xi Jinping meeting also reflects the bullish outlook of large investors.
market outlook and investment strategy
short-term outlook (1-2 weeks)
resistance: 116,380 USDT (Binance 24h high) is key, a break above which the $120,000 challenge will be in sight.
support: The 112,800 USDT area is acting as a strong support, and a hold above this level will continue the upward momentum.
as analyzed in the Standard Chartered report "Bitcoin to never go below $100,000 again", $100,000 is likely to be the new bottom support.
medium to long-term outlook (1-3 months)
There are a number of big events on the horizon, including the FOMC rate cut decision, Ripple ETF approval (November 1), and progress in US-China trade talks. if any of these outcomes are positive, a $150,000-160,000 Bitcoin scenario is not out of the question.
the altcoin market is also likely to enter a full-blown rally after exiting one of the longest bear markets in history, and the upcoming ETF listings for Solana, Litecoin, and Hedera will be key catalysts to drive their prices higher.
risk factors
- BIP-444 liability controversy: Bitcoin node operators' liability issues are leading to community infighting.
- cambodia money laundering allegations: Suspicions of a KRW12.8 billion coin transfer between South Korea and Cambodia could lead to increased regulation.
- excessive leverage: With a historic liquidation of KRW 19 trillion, highly leveraged positions should be approached with caution.
investment checklist - points to note now
✅ Positive factors
- citigroup-Coinbase partnership accelerates institutionalization
- institutional investor buying continues (Trump family, microstrategy, etc.)
- uS-China trade talks and possible interest rate cuts
- improving altcoin MACD and 200-day moving average signaling a rebound
- funding costs remain at healthy levels
⚠️ Cautionary factors
- BIP-444 controversy and regulatory risks
- potential for volatility after the KRW 19 trillion liquidation
- some altcoin funding fees overheated (LINK, LTC)
- negative news such as Cambodian money laundering allegations
final thoughts
as of October 28, 2025, the cryptocurrency market continues its upward momentum, supported by strong institutional inflows and a favorable macroeconomic environment. with Bitcoin stabilizing at $114,000 and attempting to break through $120,000, and the altcoin market showing signs of exiting a long-term bear market, the medium- to long-term outlook is positive.
however, volatility may increase after large-scale liquidations, and uncertainties such as regulatory risks remain, so we recommend that you invest with thorough risk management. in particular, we recommend avoiding excessive leverage and building a stable position by buying in installments.