What Is Driving Today’s Increase in Cryptocurrency? – September 30, 2025

The cryptocurrency market is experiencing an uptick today, with the total market capitalization rising by 1.3% to reach $4.01 trillion. The majority of the top 100 cryptocurrencies have seen gains over the last 24 hours. Concurrently, the overall trading volume in the crypto space stands at $173 billion.

TLDR:

The cryptocurrency market capitalization has increased by 1.3% on Tuesday morning (UTC);

All top 10 cryptocurrencies are in the green, with ETH leading the pack;

BTC and ETH are the top performers in their category, valued at $113,992 and $4,191, respectively;

BTC is currently in a corrective phase, exhibiting ‘buy the rumor, sell the news’ behavior;

‘Price movements indicate consolidation rather than continuation in the short term’;

‘Current probabilities lean towards a cooling phase as the market processes realized gains’;

James Check suggested that BTC reaching $300,000 is feasible;

Both US BTC and ETH spot ETFs have ended brief periods of negative performance, with inflows of $521.95 million and $546.96 million, respectively;

BlackRock’s IBIT has overtaken Deribit as the primary platform for Bitcoin options;

Market sentiment in the crypto space has shifted from fear to a neutral stance.

Crypto Winners & Losers

As of this writing, all top 10 cryptocurrencies by market capitalization have recorded increases in the past 24 hours.

Bitcoin (BTC) has risen by 2.1%, currently trading at $113,992, making it the second-best performer in its category.

Bitcoin (BTC)24h7d30d1yAll time

Ethereum (ETH) has increased by 2.4%, now trading at $4,191, marking it as the top gainer today.

Binance Coin (BNB) has risen by 1.4% to a price of $1,022, while other cryptocurrencies on the list have shown gains of less than 1%.

Among the top 100 cryptocurrencies, three have experienced double-digit declines: Plasma (XPL), Provenance Blockchain (HASH), and Story (IP), which are down 15.6% to $1.12, 11.7% to $0.0343, and 11.6% to $8.6, respectively.

Conversely, Figure Heloc (FIGR_HELOC) has seen the most significant appreciation, rising 6.7% to $1.05, followed by MemeCore (M), which increased by 3% to $2.37.

Additionally, declining funding rates indicate a potential for more sustainable growth in ‘uptober’.

Onchain data from Checkonchain and Unchained indicates that BTC is still far from its peak and has yet to “enter the euphoric right tail in the current cycle.”

James Check, co-founder of Checkonchain and Bitcoin analyst, stated that BTC reaching $240,000 or $300,000 is plausible now that the coin is trading above $100,000.

In each chapter, we illustrate how Bitcoin is trading, how it compares to previous cycles, and our interpretation of the factors driving these changes.
We utilize data from spot, onchain, ETFs, and derivatives markets.https://t.co/prLkinj1NJ pic.twitter.com/9olJ9UyIh0

— _Checkmate (@_Checkmatey_) September 29, 2025

‘Consolidation Rather Than Continuation’

As per analysts from Bitfinex, “BTC has entered a corrective phase following its [US] FOMC-driven rally, exhibiting classic ‘buy the rumor, sell the news’ behavior.”

Furthermore, the overall market structure indicates diminishing momentum, “with price movements suggesting consolidation rather than continuation in the short term.”

Moreover, the inflow structure is another significant characteristic of the current cycle, according to the analysts. Previous cycles typically unfolded in a single extended wave of capital, while this cycle has “developed in three distinct multi-month surges,” each accompanied by substantial profit-taking.

Over 90% of the coins transacted were sold at a profit at every cyclical peak, indicating widespread distribution, according to the analysts.

They concluded that, “having just stepped back from the third such extreme, probabilities now lean towards a cooling phase as the market digests realized gains.”

Levels & Events to Watch Next

As of Tuesday morning, BTC is trading at $113,992. Earlier in the day, it experienced a notable increase from a low of $111,808 to an intraday high of $114,762, which also represents the coin’s intraweek high.

The coin is currently showing positive performance across the 24-hour, 7-day, 1-month, and 1-year time frames, with increases of 0.6% over the week and 4.7% over the month.

On the upside, investors are eyeing $116,150 and $117,850, after which the price could potentially approach $120,000. On the downside, if it falls below the support levels of $113,000 and $112,600, BTC could drop to $110,350 and $108,700.

Bitcoin Price Chart. Source: TradingView

Ethereum is currently valued at $4,191. It has experienced a more volatile trading day compared to BTC: it dipped to a low of $4,089, surged to $4,202, fell to $4,135, and reached an intraday high of $4,230 before slightly correcting to its current price.

In contrast to BTC, ETH is showing negative performance in the 7-day and 1-month time frames, down 0.7% and 5.8%, respectively.

Investors are now monitoring whether the price will surpass $4,500, which would pave the way for higher prices and all-time highs, or if it will decline towards $3,800.

Ethereum (ETH)24h7d30d1yAll time

Meanwhile, the sentiment in the crypto market has seen a slight improvement. After a few days in the fear zone, the crypto fear and greed index has shifted back to a neutral position, currently at 43.

Additionally, US BTC spot exchange-traded funds (ETFs) ended their recent brief negative streak on Monday, with inflows totaling $521.95 million. The cumulative net inflow now stands at $57.34 billion.

Among the 12 ETFs, BlackRock was the only one to report negative flows of $46.64 million, while nine others recorded positive inflows. The highest inflow among these, and the only one in triple digits, is Fidelity’s $298.7 million.

The US ETH ETFs also broke their outflow streak, achieving $546.96 million in inflows on September 29. All nine funds reported positive flows, bringing the total net inflow to $13.67 billion.

Two of these funds have seen three-digit increases: Fidelity with $202.18 million and BlackRock with $154.2 million.

In addition, BlackRock’s iShares Bitcoin Trust (IBIT) has surpassed Deribit, becoming the leading platform for Bitcoin options. Open interest in options related to IBIT reached nearly $38 billion following Friday’s expirations, compared to $32 billion on Deribit.

According to Bloomberg, BlackRock’s iShares Bitcoin Trust (IBIT) has overtaken Coinbase’s Deribit platform to become the largest venue for Bitcoin options trading. Following last Friday’s contract expirations, open interest in options tied to the Nasdaq-listed IBIT reached nearly…

— Wu Blockchain (@WuBlockchain) September 30, 2025

Quick FAQ

1. Why did crypto move with stocks today?

The cryptocurrency market has risen over the past day, coinciding with major stock indexes closing higher for a second consecutive session on Monday. By the end of trading on September 29, the S&P 500 was up by 0.26%, the Nasdaq-100 increased by 0.44%, and the Dow Jones Industrial Average rose by 0.15%.

1. Is this rally sustainable?

We may witness a brief additional rally before another pullback and consolidation phase. Such consolidation could be beneficial, establishing a foundation for the next upward movement.

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