Crypto Market Recap Oct 25, 2026: Crypto Drifts Lower

What Moved

A soft day: total market capitalisation ended at $2.76T, down 0.6% from a day earlier.

Bitcoin closed at $80,087, -0.9% on the day, roughly in step with the wider market. Dominance stands at 58.4%. Ethereum lost 1.1% to $2,329.

Breadth was split — 908 assets up, 1469 down — with 36.0% of the hundred largest closing higher. The index move came from the large caps more than the field.

Quant (QNT) was the day's strongest mover at +6.5%, ahead of ENA (+5.8%). At the other end, Pepe (PEPE) fell 5.3%, with XDC (-5.0%) close behind. By sector, Derivatives & Perpetuals led (+0.5%) while Memes trailed (-1.2%).

Volume and Leverage

A quiet tape: $29.3B changed hands, -29.6% on the day before. Spot on centralised exchanges accounted for $28.5B, on-chain swaps $1.29B and derivatives $62.2B.

Liquidations were contained at $77.0M, most of it longs ($47.5M against $29.5M of shorts). Open interest across the venues we track is $65.4B.

Sentiment

Sentiment is greed: our Fear & Greed index reads 65 (58 yesterday, 55 last week).

That leaves positioning and price pointing in different directions: traders are still leaning optimistic while the tape weakens. Days like this resolve either by sentiment catching down or by dip-buying proving right; the volume figure above is the better tell.