BitMart Market Weekly Report 10.13-10.19

This Week's Crypto Market Dynamics

Last week, Bitcoin experienced significant volatility. It continued its upward trend at the beginning of the week, reaching a high of $126,296, but on Friday, market sentiment turned sharply after Trump announced a 100% tariff on Chinese goods and implemented export controls. BTC briefly plummeted to $102,000 on Binance, then rebounded and stabilized around $112,980. Although it briefly rose above $115,000 over the weekend, selling pressure persisted, causing the price to drop below $110,000 again mid-week, reaching a low of $108,198 on Thursday. As of the current trading day, BTC is reported at approximately $105,700, with a weekly decline of over 7%, and market sentiment has turned cautious, with volatility significantly increasing.
Ethereum also experienced substantial fluctuations. It surged strongly at the beginning of the week, breaking through $4,600, but quickly fell back due to macro shocks and the impact of options expiration. On the day the Trump tariff news was announced, ETH briefly plummeted to $3,444, then rebounded to close at $3,836, with a single-day decline of over 12%. Although it briefly recovered above $4,200 over the weekend, selling pressure continued, and it fell below $4,000 again mid-week, reaching a low of $3,678, currently hovering around $3,800. Overall, ETH declined by about 8% for the week, as the market remains affected by macro uncertainties and high volatility due to options expiration, with a weak short-term trend.

This Week's Popular Coins

In terms of popular coins, ENA, TAO, MORPHO, PAXG, and XAUt all performed well. ENA's price increased by 13.29% this week, with a 24-hour trading volume of 1.3B. TAO's price rose by 8.3%. XAUt and PAXG increased by 4.11% and 4.26% respectively this week.

U.S. Market Overview and Hot News

On October 10, President Trump announced a 100% tariff on products imported from China and new export controls on "all critical software" starting November 1, escalating U.S.-China trade tensions and causing market unease. This tariff increase is a response to China's expansion of restrictions on rare earth minerals. These restrictions mean that foreign companies must obtain approval from the Chinese government to export products that contain even trace amounts of Chinese rare earth elements.
Gold acted as a hedge against macro uncertainty, rising 5% this week, while the S&P 500 index rebounded from its lows, closing down only 0.8% for the week. In contrast, Bitcoin and Ethereum's rebounds were not strong, both closing down about 10% for the week.
ETHShanghai 2025 will open on October 22
The 11th Global Blockchain Summit by Wanxiang will be held on October 23
The U.S. Bureau of Labor Statistics will release the September CPI report on October 24 at 8:30 AM (Beijing time 8:30 PM).

Popular Sectors and Project Unlocks

Meme Sector
Driven by the Federal Reserve's interest rate cuts and a rebound in market liquidity, risk appetite has significantly increased, making the Meme sector one of the high-beta tracks with the most concentrated capital inflow last week. According to 7-day data, mainstream Meme tokens generally recorded double-digit gains: DOGE +14.2%, PEPE +18.6%, FLOKI +25.3%, WIF +27.8%, BONK +21.5%, significantly outperforming BTC's +1.5%. There is also a clear differentiation within the sector: SHIB lagged behind with only +3.9%, while small-cap new tokens like TURBO and MEMEAI surged over 30%, indicating that market funds prefer projects with narrative heat and community activity.
On-chain data shows that trading activity of Meme coins on Solana and Base has significantly increased, especially with WIF and BONK's on-chain transaction volumes reaching recent highs, reflecting a rapid rise in speculative sentiment. Overall, the Meme sector has regained attention during the liquidity easing cycle, with funds flowing from mainstream assets and stablecoins to high-volatility small-cap tokens. However, the short-term gains have been rapid, and emotional trading is strong, necessitating caution against subsequent pullbacks and profit-taking pressure.
LayerZero (ZRO) will unlock approximately 25.71 million tokens at 7 PM Beijing time on October 20, accounting for 7.86% of the current circulating supply, valued at approximately $44.2 million.
KAITO (KAITO) will unlock approximately 8.35 million tokens at 8 PM Beijing time on October 20, accounting for 3.06% of the current circulating supply, valued at approximately $8.7 million.
Plasma (XPL) will unlock approximately 88.89 million tokens at 8 PM Beijing time on October 25, accounting for 4.97% of the current circulating supply, valued at approximately $36.9 million.

Risk Warning:

The risks associated with using BitMart services are entirely borne by you. All cryptocurrency investments (including returns) are inherently highly speculative and involve significant risk of loss. Past, hypothetical, or simulated performance does not necessarily represent future results.
The value of digital currencies may rise or fall, and buying, selling, holding, or trading digital currencies may involve significant risks. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment goals, financial situation, and risk tolerance. BitMart does not provide any investment, legal, or tax advice.