Key notes
- Experts believe that an agreement between the United States and China should be reached before November.
- 1 deadline for rates.
- Several crypto executives will attend the Fed and pro-crypto Senate Democrats’ “Payments Innovation” event.
- The market value of cryptocurrencies has increased by more than 4% in the last 24 hours.
Bearish sentiment in the crypto market appears to be fading with bullish events and expectations surfacing this week.
The global cryptocurrency market capitalization increased by 4.15% in the last 24 hours to $3.77 trillion, according to data from CoinMarketCap.
Bitcoin
BTC
$111,254
24h volatility:
4.6%
Market capitalization:
$2.22T
Flight. 24h:
$61.17 billion
crossed the $111,000 mark with gains of 4.3%. Ethereum
ETH
$4,049
24h volatility:
4.9%
Market capitalization:
$489.15 billion
Flight. 24h:
$34.93 billion
rose 5.2%, surpassing the psychological barrier of $4,000.
The market-wide bullish momentum consequently triggered $521 million in liquidations in 24 hours ($182 million in long positions and $338 million in short positions), according to CoinGlass. data. The dominant short liquidations come as the market’s total open positions increased 5.8% to $155 billion.
The increase in OI shows that traders are open to high-risk trading with strong sentiment.
The upcoming macro bulls
On October 11, the crypto market experienced $19.35 billion in liquidations, the largest wipeout in the industry’s history, after US President Donald Trump threatened to impose additional 100% tariffs on China.
This was not just another correction as the digital asset ecosystem saw a $400 billion sell-off.
With tariff threats slowing, experts believe a deal is happening.
Rod D. Martin, founder and CEO of Martin Capital, told NTD that Trump “made it pretty clear” when he set a November 1 deadline for the latest round of tariffs.
“That tells you there’s some maneuvering going on and I think we’re close to a deal,” Martin added.
Additionally, the US Federal Reserve host its “Payments Innovation Conference” on Tuesday, October 21, starting at 8 a.m. local time. Several executives from crypto companies like Chainlink, Paxos, Coinbase, and Circle, to name a few, will attend the event.
The main discussion points concern crypto payments, stablecoin use cases and tokenized products.
On Wednesday, October 22, some top industry executives, Brian Armstrong, Sergey Nazarov, Mike Novogratz and Hayden Adams, for now, will “attend a roundtable with pro-crypto Senate Democrats,” former FOX Business reporter Eleanor Terrett posted on X.
🚨SCOOP: These crypto C-suites are expected to attend a roundtable with pro-crypto Senate Democrats on Wednesday to discuss market structure legislation and the path forward:
📌CEO of Coinbase @brian_armstrong
📌Chainlink CEO @SergeyNazarov
📌Galaxy CEO @novogratz
📌CEO of Kraken…– Eleanor Terrett (@EleanorTerrett) October 20, 2025
Democratic Senator Kirsten Gillibrand, who strongly supports crypto, will lead the meeting with industry leaders.
Any positive outcome from these events could contribute to bullish market sentiment, thereby pushing asset prices higher.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article is intended to provide accurate and current information, but should not be considered financial or investment advice. Because market conditions can change quickly, we encourage you to verify the information for yourself and consult a professional before making any decisions based on this content.
Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his credit and his work has been featured in some of the leading media outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Besides reporting, Wahid likes to connect the dots between DeFi and macro in his newsletter, On-chain Monk.
