Bitcoin News Today: Bears Maintain Control as Crypto's Modest Rally Fails to Signal Bullish Turn

The cryptocurrency market experienced a modest rally in early October 2025, with the total market cap rising 2.86% to $3.96 trillion over 24 hours, driven by a 3.54% surge in Bitcoin's price to $115,569. However, analysts remain cautious, emphasizing that the short-term gains do not signal a broader bullish trend. "The bears still dominate," noted a CoinCodex market update, as 60% of coins recorded losses in the same period, underscoring the market's fragility.

Bitcoin's dominance grew to 58.22% of the market, but its technical outlook remains unchanged from bearish. The report highlighted that Bitcoin's 24-hour gains were offset by a lack of sustained momentum, with no clear price targets beyond current levels. Meanwhile, Ethereum (ETH) rose 7.42% to $4,237.48, but crypto news platforms like Crypto.News warned that ETH's rebound is contingent on breaking above $4,400–$4,500 to avoid a potential pullback to $3,300–$3,400.

The market's mixed signals were further amplified by geopolitical and regulatory developments. A U.S.-China trade framework averted threatened tariffs and rare-earth export curbs, briefly lifting global crypto markets by 1.9%, according to a TheStreet report. However, the impact was short-lived, as institutional flows remained uneven. Bitcoin ETFs saw $20 million in inflows, while Ethereum ETFs bled $127 million, reflecting divergent investor sentiment, CryptoNews reported.

In the token space, Virtual Protocol (VIRTUAL) surged 27.48% to $1.57, earning the "coin of the day" label, according to CoinCodex, but XRP and SOON plummeted 2.5% and 3.03%, respectively, according to TradingView. Binance's Changpeng Zhao (CZ) received a presidential pardon from Donald Trump, sparking a 5% rally in BNB, TradingView reported, yet broader altcoin sentiment remained weak.

Regulatory shifts also shaped the landscape. Argentina's Javier Milei, whose crypto-friendly La Libertad Avanza party won midterms, faces scrutiny over his role in the Libra token scandal, which dented his public image, Cointelegraph reported. Meanwhile, South Korea's Bitplanet began accumulating Bitcoin under a regulated framework, signaling institutional confidence, Crypto.News reported, though such moves have yet to translate into sustained market optimism.

Despite bullish catalysts—including Bullish's $4.8 billion IPO backed by BlackRock and Ark Invest, CoinDesk reported—analysts stress that macroeconomic headwinds, including U.S. inflation concerns and geopolitical tensions, persist. "The current pump is more of a technical rebound than a structural shift," said a Cointelegraph analysis, adding that Bitcoin's failure to break $130,000 and Ethereum's struggle to hold $4,000 remain critical hurdles.

The bearish consensus is reinforced by on-chain data. Ethereum's triple-bottom pattern near $3,750 suggests potential support, but a breakdown below $3,700 could trigger further declines, CryptoNews suggested. Similarly, Bitcoin's inability to extend its "Uptober" gains—historically a bullish month—raises concerns about a prolonged consolidation phase, as CryptoNews also noted.