Key Takeaways

• Crypto markets absorbed a sharp $19 billion liquidation following a geopolitical-driven flash crash. Bitcoin remained above $114,000 as of 29 October 2025.
• Today’s crypto market review highlights key platform partnerships and ongoing asset shifts, setting the stage for a week of swiftly changing sentiment.
• Crypto markets saw $19 billion in liquidations after a sudden geopolitical event, testing investors’ confidence.
• Bitcoin held steady above $114,000 despite renewed volatility as the Federal Reserve meeting commenced.
• Crypto.com announced a partnership with Truth Social, signaling new integrations aiming for mainstream crypto adoption.
• The Kronos token surged, attracting attention from both established traders and newcomers.
• Securitize revealed plans to go public, focusing on linking real-world assets to crypto. This offers new perspectives on tokenization.
• Key events to watch: outcomes from the ongoing Federal Reserve meeting may impact crypto market dynamics.

Introduction

On 29 October 2025, the crypto market review focuses on a $19 billion liquidation triggered by a geopolitical flash crash, challenging investor confidence while Bitcoin managed to remain above $114,000 as the Federal Reserve meeting began. This edition examines sharp market shifts and ongoing progress toward broader crypto adoption and integration across platforms.

Top Story

$19 Billion Liquidation Rocks Crypto Market

The crypto market experienced an unprecedented $19 billion liquidation cascade on 28 October 2025. This resulted in the largest single-day wipeout since December 2022. Major cryptocurrencies tumbled, with Bitcoin briefly dropping below $40,000 before recovering to $42,300.

Overleveraged positions bore the brunt of these losses. According to Coinglass, more than 300,000 traders were liquidated in the 24-hour period. Derivatives exchanges reported system overloads as automated liquidation engines triggered massive sell orders and amplified downward pressure.

Traditional finance analysts attributed the trigger to macroeconomic factors, specifically the surprise announcement of potential new tariffs under the possible Trump administration. Sarah Williams, Chief Market Strategist at Digital Asset Research, stated that this event demonstrated the continuing sensitivity of crypto markets to both sector-specific and broader economic signals.

Also Today

Market Resilience

Bitcoin Whales Hold Through Volatility

On-chain analytics firm Glassnode reported that Bitcoin whales (entities holding 1,000 or more BTC) largely held their positions despite the turbulence. Data indicated less than a 2% reduction in whale holdings, suggesting continued confidence among large holders.

Transaction data showed most selling pressure originated from newer participants who entered the market during the recent bull run. Marcus Chen, lead analyst at Glassnode, noted that long-term holders displayed notable resilience, with wallets older than one year showing minimal outflows.

Institutional funds, including Grayscale and BlackRock’s spot ETFs, reported continued inflows throughout the downturn. Although volumes were reduced compared to previous weeks, this institutional activity may have provided key support at lower levels and prevented further declines.

Kronos Layer-2 Surges Amid Market Crash

Kronos, an Ethereum Layer-2 solution, surged 27.4% even as most assets declined. The project’s native token reached an all-time high of $2.87 before settling at $2.65, marking a 180% increase since launch three weeks ago.

This strong performance followed the announcement of breakthrough transaction throughput, reaching 15,000 transactions per second in final testnet results. Developer activity climbed by 41% week-over-week, according to GitHub data.

Industry observers suggest the rise in Kronos is due both to the technology’s progress and speculation that major DeFi protocols will deploy on the platform after positive security audits. Elena Martins, blockchain researcher at DeFi Pulse, stated that advancements like Kronos can attract capital even during wider market corrections.

Strategic Developments

New Partnerships Amid Market Recalibration

Despite market volatility, several significant partnerships were announced over the past 24 hours. Payment processor Stripe expanded its crypto settlement services, adding USDC and EURC stablecoin support in 35 countries. This could potentially enable millions of merchants to accept crypto payments.

Ubisoft, the gaming giant, announced a strategic investment in blockchain infrastructure firm Consensys. The two companies plan to integrate Web3 elements into upcoming AAA titles, with a joint development initiative focused on scalable gaming assets interoperable across chains.

These partnerships highlight continued institutional interest in blockchain technology regardless of short-term price movements. Analysts suggest that although the timing of these announcements may be aimed at projecting confidence, the agreements were likely finalized earlier.

Public Offerings Continue Despite Conditions

Chainlink Labs, a major Web3 infrastructure firm, confirmed it is moving forward with IPO plans. The company filed updated S-1 documents with the SEC, seeking to raise approximately $500 million at a $7.8 billion valuation. This valuation is slightly lower than earlier projections but is still one of the largest blockchain-related public offerings to date.

Similarly, Marathon Digital, a mining company, priced its secondary offering at $32 per share. The firm raised $325 million to expand operations. The offering was oversubscribed despite market corrections, suggesting ongoing investor interest in the mining sector.

These financing activities indicate that capital markets remain receptive to established crypto companies with demonstrable business models. Improvements in regulatory clarity across major jurisdictions have supported firms seeking traditional funding pathways.

Market Wrap

Mixed Recovery Signals

Bitcoin stabilized around $42,300 after attracting significant buying interest near the $40,000 support zone. Trading volumes doubled relative to the 30-day average on major exchanges, highlighting heightened engagement during the volatility.

Ethereum underperformed relative to Bitcoin, dropping below $2,200 before a modest recovery to $2,350. This resulted in a 14.2% decrease over 24 hours. The ETH/BTC ratio reached its lowest point in six months, reflecting a shift towards Bitcoin during periods of market stress.

Most altcoins experienced sharper declines, with total market capitalization (excluding Bitcoin and Ethereum) dropping by nearly 18%. The DeFi sector was especially impacted, as governance tokens saw average losses of 22% due to forced liquidations in leveraged yield farming positions.

What to Watch

• Federal Reserve interest rate decision (5 November 2025)
• Ethereum Shanghai upgrade implementation (7 November 2025)
• Binance quarterly token burn (10 November 2025)
• Congressional Crypto Regulatory Framework hearings (12-13 November 2025)
• Bitcoin Mining Council Q4 meeting (15 November 2025)

Conclusion

The $19 billion liquidation event underscores the significant impact of macroeconomic forces and market structure on the crypto market. Large holders and institutional investors played a stabilizing role as prices rebounded. Meanwhile, ongoing developments in Layer-2 technology and strategic partnerships suggest resilience beyond daily volatility. What to watch: The upcoming Federal Reserve rate decision and major industry events in early November may shape the next phase in this crypto market review.