Cryptocurrency market today, October 20: What do experts say about Bitcoin's recovery after the crash?

(NLDO) - On-chain data shows that in the past 30 days, the amount of Bitcoin held by organizations increased by 8.4%, to 4.04 million Bitcoin.

On the evening of October 20, the cryptocurrency market rebounded after many days of deep decline. According to data from OKX exchange, in the past 24 hours, Bitcoin (BTC) increased by more than 2%, to 110,700 USD.

Altcoins followed suit. Ethereum (ETH) rose more than 2% to $4,029; BNB rose more than 1% to $1,110; XRP rose 3.2%; and Solana (SOL) rose more than 1% to $191.

According to CoinDesk , after a strong sell-off that caused more than $500 billion in capitalization to "evaporate", Bitcoin's price has recovered slightly but still decreased by about 4% in October.

Bitcoin is trading in the $110,700 region Source: OKX

The recovery was supported by positive global market sentiment, after US President Donald Trump signaled he would ease import tariffs, along with the US Federal Reserve (Fed) saying it could slow down monetary tightening later in the year.

Cryptocurrency expert Linh Tran (XS.com) commented that Bitcoin is in a period of accumulation after a short-term correction, when demand from institutional investors remains strong and the market gradually stabilizes.

On-chain data shows that over the past 30 days, the amount of Bitcoin held by institutions has increased by 8.4%, to 4.04 million Bitcoin.

However, experts warn that the recovery may not be sustainable, as the strong US dollar, high US bond yields and geopolitical risks remain major obstacles.

Source: https://nld.com.vn/thi-truong-tien-so-hom-nay-20-10-chuyen-gia-noi-gi-ve-da-phuc-hoi-cua-bitcoin-sau-cu-sap-196251020185941984.htm