Bitcoin surpassed $113,000 after a morning decline.
Date: 2025-10-22 Author: Henry Casey Categories: CRYPTO PAYMENTS
On the evening of October 21, Bitcoin surged above $113,000, reversing its morning decline below $108,000. Over the past 24 hours, the leading digital currency has increased by approximately 2.2%, reaching $113,600 at the time of writing. Ethereum also showed strong growth, approaching $4,100 and adding 2.7% on the day.
The positive momentum has spread across the entire cryptocurrency market. Among the leaders are Solana (up 4%), XRP (up 2.4%), and Cardano (up 2.8%). The sector's overall market capitalization increased significantly over the past 24 hours, which was reflected in the volume of liquidations: they totaled approximately $532 million over the past 24 hours. Of this amount, approximately $255 million was accounted for by long positions and $276 million by short positions. However, a significant bias toward short positions has been observed in recent hours.
The crypto market's Fear and Greed Index, which reflects investor sentiment, rose from 29 to 34 points, indicating a gradual return of confidence after recent corrections.
Interestingly, Bitcoin's sharp rise coincided with a decline in gold prices. The precious metal lost almost 6% in 24 hours—its largest decline since April 2013. Analyst Michael van de Poppe called this a "healthy correction" and noted that some of the capital leaving the gold market is being channeled into digital assets.
Lawyer and Bitcoin proponent Joe Karlasar opined that gold "will never serve as a store of value" and will "eventually become worthless," emphasizing that it's impossible to pay for everyday purchases. Binance founder Changpeng Zhao, commenting on Karlasar's statement, noted: "Gold won't go to zero, but Bitcoin is better."
Market participants believe the current movement could be the beginning of a new wave of growth and preparation for renewed all-time highs. Many analysts see signs of capital rotation from traditional assets to cryptocurrencies.
Analyst PlanB, creator of the popular S2F model, also confirmed that fundamental indicators remain positive and point to a continuation of the uptrend. Despite recent fluctuations, he expects Bitcoin to maintain momentum and continue to strengthen its position as the leading instrument of the digital economy.
