Digital Asset Market Surges Amid Bitcoin Futures Rally and Ethereum Gains

Digital Asset Market Rebounds Strongly

The digital asset market experienced a robust resurgence as Bitcoin (BTC) futures climbed over 4% within a single trading day, reclaiming the $115,000 threshold. Ethereum (ETH) also displayed strong bullish momentum, offsetting recent losses despite ongoing outflows from Ethereum ETFs for more than 10 consecutive days.

As of 6:00 p.m. on October 27, the global market capitalization of digital assets rose by 2.95% compared to the previous day, reaching $3.897 trillion (approximately KRW 5,586 trillion). Bitcoin maintained a commanding market dominance of 50.96%, while Ethereum accounted for 13.03%. However, the Alternative Fear & Greed Index, which gauges investor sentiment, dipped slightly to 42, indicating neutral market sentiment.

Bitcoin Futures Lead the Market Rebound

Bitcoin demonstrated notable price recovery with a 24-hour price increase of 2.87%, stabilizing around the $115,000 mark. CME Bitcoin futures for October settled at $115,315, representing a 4.13% increase (+$4,575) from the previous session. The January futures contract posted a stronger 4.9% gain, closing at $118,000.

Ethereum futures outpaced Bitcoin in upward momentum, signaling heightened investor interest. The October Ethereum contract surged 6.25% to settle at $4,180, while the December contract jumped 6.44% to close at $4,238. These substantial futures gains underscore Ethereum's critical role in driving broader market recovery alongside Bitcoin.

ETF Trends: Ethereum Still Faces Outflows While Bitcoin Gains Inflows

Despite Ethereum showing price recovery, ETF outflows persisted, signaling cautious sentiment among institutional investors. Data from Farside Investors revealed that Ethereum ETFs recorded net outflows of $93.6 million (approximately KRW 134.2 billion) as of October 24, including Grayscale’s ETH fund, which saw $7.4 million (approximately KRW 10.6 billion) withdrawn.

By contrast, Bitcoin ETFs continued to attract strong inflows, highlighting investor confidence in the leading cryptocurrency. Net inflows totaled $96.6 million (approximately KRW 138.5 billion) during the same trading session. Among major funds, BlackRock’s IBIT fund captured $32.7 million (approximately KRW 46.9 billion), while Fidelity’s FBTC secured an impressive $57.9 million (approximately KRW 75.8 billion).

Macroeconomic Conditions Bolster Risk Appetite

The rebound in digital asset prices coincided with improved macroeconomic conditions that supported investment in risk-driven assets. The U.S. 10-year Treasury yield edged higher by 0.025 percentage points to reach 4.028%, while the DXY Dollar Index eased marginally, closing at 98.541. These stabilizing macro indicators provided fertile ground for heightened investor interest across cryptos and other risk-sensitive markets.

Ethereum Takes the Lead Among Major Altcoins

Ethereum spearheaded gains among major cryptocurrencies, surging 5.23%, while meme coins like Dogecoin (DOGE) rose 3.52%, signaling growing activity among speculative assets. Tron (TRX) and Cardano (ADA) also recorded gains of 1.37% and 3.56%, respectively.

Conversely, Binance Coin (BNB) experienced a 2.54% decline, and XRP slipped 0.64%, reflecting mixed performances within major altcoins. Notable sector-wide movements included advances in Layer 1 tokens and meme coins. Solana (SOL) made an impressive 4.98% gain, surpassing the critical $200 threshold, while SUI extended its bullish streak with a 3.63% uptick. Bitcoin Cash (BCH) stood out with an exceptional 8.87% rally, posting the highest percentage increase among top altcoins.

Market Sentiment Moderates Amid Steady Gains

Investor sentiment tapered slightly during the market’s rebound, as reflected in the Alternative Fear & Greed Index, which ticked down to 42 but maintained a "neutral" status. This subtle moderation underscores the balanced investor sentiment, fueled by bullish momentum yet tempered by lingering concerns like Ethereum ETF outflows.

Final Insights

The digital asset market rally reflects improving investor sentiment amid favorable macroeconomic conditions, with Bitcoin futures and Ethereum leading the charge. While sustained Ethereum ETF outflows present a challenge, strong inflows into Bitcoin ETFs and the recovery of key altcoins signal renewed optimism. As Bitcoin and Ethereum maintain their respective strengths, and broader market dynamics support growth, the crypto sector continues proving its resilience amid shifting economic landscapes.