Ethereum Briefly Dips Below $4,500, Down Around 5.8% from Intraday High

October 8th, according to official channels, Bybit declared that on October 6, 2025, at 20:23 (UTC), during a time of extremely volatile markets, the prices of perpetual contracts like SERAPHUSDT on the platform veered off significantly from the spot market. After conducting internal investigations, Bybit affirmed that the system's logic functioned as intended. Nevertheless, a drastic contraction in liquidity led to a substantial disparity between spot and derivative prices, resulting in intense price fluctuations and potentially causing some customers to be affected by non-market reasonable prices. If any user is impacted by this situation, please get in touch with the Bybit customer service team or an account manager immediately. The platform will review the cases within 14 working days. Users can receive round-the-clock multilingual support through live chat or submit a ticket via a web form.

On October 8th, based on HTX market data, Bitcoin continued to decline and briefly fell below $121,000. It is currently trading at $120,845, with a 24-hour decrease of 3.14%.

On October 7th, Glassnode shared data on social media indicating that with Bitcoin breaking through its previous high, traders increased their long positions, resulting in a notable rise in BTC futures open interest. The current pullback is testing the durability of these long positions and facilitating a market leverage reset. Going forward, close attention should be paid to two signals: when and where buyer strength emerges, and whether key support levels can reactivate market demand.

On October 7th, as monitored by The Data Nerd, 7 hours ago, a whale (possibly RedOakCayman) withdrew 2 million EIGEN from Binance (approximately $3.94 million). At present, the address holds a total of 6 million EIGEN (approximately $11.82 million), and it has an unrealized gain of around $2.88 million.

On October 7th, based on market data, BNB dropped below $1,300 and is currently trading at $1,275. It hit a low of $1,262, down approximately 6.5% from the daily high of $1,350.

On October 7th, based on market data, all major U.S. stock indices witnessed a decline. The S&P 500 Index dropped by 0.3%, the Nasdaq decreased by 0.5%, and the Dow Jones Industrial Average fell by 0.1%. Cryptocurrency stocks also experienced a simultaneous decline. Previously strong-performing ones saw their gains narrow, including: Coinbase (COIN) fell by 3.58%. Circle (CRCL) fell by 1.09%. MicroStrategy (MSTR) fell by 6.73%. Bullish (BLSH) fell by 5.8%. Bitmine (BMNR) fell by 5.24%. SharpLink Gaming (SBET) fell by 6.86%. BNB Network Company (BNC) rose by 6.06%. ALT5 Sigma (ALTS) fell by 3.9%. American Bitcoin (ABTC) fell by 4.62%. Eightco Holdings (ORBS, formerly OCTO) rose by 2.8%. New SOL Treasury Stock Helius (HSDT) rose by 4.56%. BTC Treasury Stock Kindly MD (NAKA) fell by 8.74%. According to HTX market data, Bitcoin fell below $122,000 and is now priced at $121,990. Ethereum fell below $4600 and is now priced at $4566.