Bitcoin, XRP Fall to End Bad Month for Cryptos. What Comes Next.
October 31, 2025
Bitcoin, XRP, and other cryptocurrencies remained under pressure early Friday, capping off a difficult month for digital assets.
Bitcoin, the world’s largest crypto, was trading at $109,863, down around 0.4% over the past 24 hours but up from yesterday’s lows of $106,429. Bitcoin has fallen 3.7% in October but remains 18% higher in 2025.
Ether, the second-largest cryptocurrency, fell 1.5% to $3,844—it has declined more than 8% this month but is 14% up this year. It’s a similar story for popular altcoin XRP, which slipped 2.8% Friday—the token is down 12.5% in October but up 20% in 2025.
Crypto exchange-traded funds are showing “signs of investor caution,” Vugar Usi Zade, COO of crypto exchange company Bitget said Friday. “This transition certainly reflects growing macro anxiety, fueled by persistent inflation, elevated interest rates, and uncertainty around the Federal Reserve’s policy path,” he added. Zade expects the market to remain sensitive to macro data releases in the next few weeks.
The Fed cut interest rates by a quarter point earlier this week, but Chair Jerome Powell said another cut in December is “not a foregone conclusion. Far from it.”
On the flip side, if upcoming data support the case for another cut by the end of the year then Bitcoin and other digital assets could enjoy a significant rebound. One problem is the ongoing government shutdown, which has delayed key data releases.
Cryptocurrencies and other risky assets tend to benefit from lower borrowing costs as it makes them more attractive relative to lower-yielding investments, such as bonds.
It’s still been a good year for digital assets, but the Fed could determine if they end 2025 with a rally or sustained selling pressure.
Write to Callum Keown at callum.keown@barrons.com
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