According to BitMart's market report on October 13, the total market capitalization of cryptocurrencies over the past week was $3.91 trillion, a decrease of 1.26% from the previous week.
This Week's Cryptocurrency Market Dynamics
Bitcoin's price surged to an all-time high, approaching $126,000, thanks to record inflows into U.S. spot ETFs—$3.2 billion last week and $2.7 billion this week, pushing the two-week inflow total to over $5.9 billion. The strong recovery in ETF demand has revitalized market momentum, pushing the total cryptocurrency market capitalization back above $4 trillion and reaching a new high near $4.3 trillion.
Major currencies performed well, while altcoins showed weakness, indicating that capital continues to consolidate around large-cap assets. This trend reflects a structural shift in market composition, increasingly influenced by ETF fund flows, policy developments, and institutional participation. Recent events—including the UK opening cryptocurrency ETPs, Intercontinental Exchange's (ICE) $2 billion investment in Polymarket, and upcoming decisions on altcoin ETFs—highlight the deep integration of traditional finance (TradFi) and cryptocurrency.
As these structural changes become evident, and with the market further entering October's cyclical window, debates about whether the historical four-year cycle of the cryptocurrency market remains intact are intensifying. Some anticipate a cycle-driven consolidation, while others expect further gains in the cryptocurrency market, supported by dovish Federal Reserve policies and ongoing ETF-led capital inflows.
This Week's Hot Coins
In terms of popular coins, ZEC, SNX, TAO, BNB, and MNT all performed well. ZEC's price increased by 71.8% this week, with a 24-hour trading volume of 88 million. SNX's price rose by 65%, reaching a peak of 294.75 USDT. TAO and BNB increased by 31.2% and 10.8%, respectively, this week.
U.S. Market Overview and Hot News
This week, major asset classes hit new highs, with gold, Bitcoin, and the S&P 500 index performing strongly. The metals sector led the way, particularly gold, which has risen 51.4% year-to-date, showing remarkable performance. Bitcoin and U.S. stocks also had a good start to the week, driven by improved risk appetite, but momentum gradually slowed after several days of record-breaking performance. As the weekend approached, market sentiment cooled slightly due to the lack of new policy guidance from the Federal Reserve's meeting minutes and Chairman Powell's speech, leading to profit-taking in some risk assets. Notably, the U.S. Dollar Index (DXY) recorded its first positive growth this week after a recent period of weakness, adding a contrarian color to the cross-asset market.
Japan's new Prime Minister will take office on October 15, and the market analyzes that he may promote the crypto economy and improve blockchain regulations.
The U.S. SEC's cryptocurrency task force will hold a roundtable on financial regulation and privacy on October 17.
The U.S. Treasury is soliciting innovative regulatory ideas for stablecoins under the GENIUS Act, with a deadline of October 17.
The U.S. SEC must make a decision on Grayscale's XRP ETF by October 18.
Popular Sectors and Project Unlocks
Layer 2
Against the backdrop of rising risk appetite and mainstream assets oscillating at high levels, the Layer 2 sector has become a major beneficiary of capital rotation. According to 7-day data, most leading tokens recorded double-digit increases: OP +33.5%, ARB +22.2%, IMX +24.8%, METIS +22.0%, ZK +24.7%, significantly outperforming BTC's +6.7%. However, there was differentiation within the sector: MNT only +2.4%, POL -16.4%, BLAST -22.4%, reflecting that existing capital prefers tracks and targets with clear catalysts or increased ecological activity. On-chain, OP Mainnet's activity surged last week (10/10 refreshed the peak of UOPS in nearly 30 days), resonating with price performance. Overall, capital is rotating from mainstream assets to high-beta expansion tracks, but attention should be paid to the release/incentive rhythm of individual tokens and cross-chain bridge-related risks.
Cheelee (CHEEL) will unlock approximately 20.81 million tokens at 8 AM Beijing time on October 13, accounting for 3.04% of the current circulating supply, valued at approximately $22.4 million;
Starknet (STRK) will unlock approximately 127 million tokens at 8 AM Beijing time on October 15, accounting for 5.64% of the current circulating supply, valued at approximately $14.4 million;
Arbitrum (ARB) will unlock approximately 92.65 million tokens at 9 PM Beijing time on October 16, accounting for 1.99% of the current circulating supply, valued at approximately $28.4 million;
Risk Warning:
The risks of using BitMart services are entirely borne by you. All cryptocurrency investments (including returns) are inherently highly speculative and involve significant risk of loss. Past, hypothetical, or simulated performance does not necessarily represent future results.
The value of digital currencies may rise or fall, and buying, selling, holding, or trading digital currencies may involve significant risks. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment goals, financial situation, and risk tolerance. BitMart does not provide any investment, legal, or tax advice.
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