Daily Crypto News & Market Analysis – 10/8/2025

Market Highlights: Bitcoin and Ethereum Lead Recovery

Bitcoin staged a notable recovery today, climbing from $116,000 to $118,400 amid mixed market sentiment.

Analysts remain divided, with some viewing BTC as undervalued while others warn of potential profit-taking.

Meanwhile, Ethereum surged past $4,200—a level last seen in December 2024—fueled by institutional demand and a circulating supply of 121 million ETH.

BNB broke through 810 USDT (+1.74%) as Binance ecosystem developments attracted corporate buyers.

Solana held steady at $181 with bullish technical indicators, while XRP traded at $3.24 following its legal clarity.

Analysts note a 95% probability for both SOL and XRP spot ETF approvals.

Glassnode reports investors acquired 120,000 BTC during recent dips, with long-term holders demonstrating conviction.

This absorption of sell pressure suggests underlying market strength despite volatility.

El Salvador passed landmark legislation allowing investment banks to hold Bitcoin, cementing its position as a crypto hub.

In contrast, Coinbase announced the delisting of Function X (FX) due to its migration to Pundi AI.

Separately, Bybit disclosed a February 2025 hack resulting in $1.5 billion losses, triggering $5.5 billion in user withdrawals.

With multiple ETF approvals likely and institutional adoption growing, the market appears poised for sustained momentum.

However, traders should monitor Bitcoin’s ability to hold $116K as a key support level.