On October 30, the Bitcoin price recorded a drop to $108,000, seeing a quick rebound above $111,000 earlier. The markets are encountering volatilty ahead of a significant crypto options expiry upcoming on October 31 – one of the largest monthly expiries of the year.
The general crypto market is down by 1.5% in the past 24 hours.
Bitcoin’s price drop debuted on October 29, following the FOMC meeting in the US, amidst crypto liquidations and BTC ETF outflows. However, Bitcoin’s recent price recovery signals a potential for renewed optimism in the market at the end of October.
Bitcoin Price Action
At the moment of writing this article, BTC is trading above $110,000, down by 2% in the past 24 hours.
Earlier, BTC price dropped to $108,000 levels before rebounding above $111,000. The digital asset’s price decline debuted on October 29 from $113,000 levels ahead of the FOMC meeting in the US, fueled by various factors.
Key Factors Affecting Bitcoin’s Price
US BTC ETFs recorded their first day of outflows yesterday following a streak of four inflow days. BTC ETFs saw over $470 million in outflows, with Fidelity’s FBTC recording the highest outflows above $164 million, according to data from SoSoValue.
Also, in the past 24 hours, the crypto market saw over $821 million in liquidations. More than $651 million in liquidations were in long positions, and over $170 million were in shorts, CoinGlass data shows. BTC saw over $368 million in liquidations, most of them in long positions.
Hyperliquid was the exchange with the most liquidations, above $120 million, followed by Bybit and Binance.
It’s also worth noting that $17 billion in Bitcoin and Ethereum options will expire on Deribit, potentially triggering more market volatilty. This marks one of the biggest monthly crypto options expiries in 2025, contributing to intense volatility.
Bitcoin, Ether Brace for $17B Options Expiry Amid Fed Meeting, Tech Company Earnings ⤵️https://t.co/9YAymlo7Al
— Deribit (@DeribitOfficial) October 29, 2025
Bitcoin price decline debuted ahead of the FOMC meeting and continued after the Fed Chair, Jerome Powell’s, remarks as well.
FOMC Meeting Results
On October 29, the Fed decided to cut interest rates by 25 bps, and said that it will stop shrinking its balance sheet on December 1st, meaning that the QT will come to an end. Powell also said that inflation has moved upwards and remains “somewhat elevated”.
Powell hinted that a rate cut in December is uncertain.
The crypto industry was waiting for this FOMC meeting with optimism, but it turned out that it might have been a “buy the rumour, sell the news” event, as Santiment noted via a post on X yesterday. The industry believed that institutional money and rate cuts could change the market’s trajectory, but the results have shown something different.
The markets should find more meaning, or otherwise, there’s no big narrative that can save it, someone noted on X.
Meanwhile, the US President, Donald Trump, has met with China’s President Xi, and their talks revealed better relations between the countries.
What’s Next for Bitcoin and Crypto?
Today, after a sharp price dip in a volatile market, Bitcoin is showing signs of a reversal upwards, but it’s still down by over 2% in the past month.
The markets are struggling to regain confidence, and there are still multiple reasons for optimism:
- Despite the Fed’s uncertainty regarding a potential upcoming rate cut in December, the end of QT is a good sign, meaning that more capital will flow into the markets.
- Good trade relations between the US and China are bullish for the industry.
- There are multiple crypto ETFs expected to go live.
- Builders continue to build and innovate in the industry.
- Crypto is seeing increased regulation and adoption worldwide, meaning that more investors will choose innovation in a safer ecosystem.
We’ll have to wait and see the market’s trajectory after the upcoming crypto options expiry on Deribit tomorrow.
