Bitcoin Rebounds to $81,700 as Memecoins Gain Steam
Ether also bounced back, while spot Bitcoin ETFs lost $635 million on Thursday. Attention is now shifting to the Fed meeting and the rebound in memecoins like Pepe.
Key Takeaways
- Bitcoin rebounded to around $81,700 on Friday, while Ether rose to $2,490.55 and altcoins moved higher across the board.
- Memecoins led the market, with Pepe as the biggest gainer at 14% and a weekly gain of 23%.
- Investors are watching the Fed meeting and spot Bitcoin ETFs, which together lost $635 million on Thursday.
Bitcoin rebounded on Friday to around $81,700 (€72,900), while altcoins and especially memecoins moved higher more sharply. Ether rose to $2,490.55 (€2,220), and the memecoin gauge gained 2.9% after Thursday's sharp drop.
Recovery After Tech Sell-Off
The rebound followed Thursday's sell-off, when the Nasdaq Composite fell 2.6%, its biggest drop since June. Asian markets also calmed down a bit: the Kospi rose 0.3%, the CSI 300 gained 1.7%, and the Nikkei 225 slipped 0.25%.
For crypto traders, the broader market still matters. After October's market crash, Bitcoin and Ethereum have seen deeper order books, while liquidity in altcoins has continued to dry up since the start of 2025. As a result, smaller tokens often move more sharply than the two biggest coins.
ETFs and the Fed in Focus
Investors are now mainly watching the Fed meeting on October 27 and 28. Brent crude is trading close to $113 (€101), which is keeping inflation worries alive. At the same time, cash flows in spot Bitcoin ETFs are back in focus after those funds together lost $635 million (€567 million) on Thursday, following more than $1 billion (€0.9 billion) in inflows during the first three days of the week.
That mix of macro pressure and ETF flows matters for European crypto readers, because U.S. inflows and outflows often quickly feed into sentiment around Bitcoin and Ether. It also shows that the market is still sensitive to rate expectations and to how much new capital comes in through regulated products. The earlier drop below $82,000 also showed how quickly weaker tech sentiment and liquidations can spill over into the crypto market.
Memecoins Take the Lead
Within the altcoin market, memecoins stood out. Pepe rose 14% and was the biggest gainer in the broader market, with a weekly gain of 23%. Other memecoins like Floki, Bonk, and Shiba Inu also moved higher, although their monthly performance remained weaker.
Meanwhile, the broader derivatives market showed a calmer picture. Trading volume in crypto futures fell 19% in 24 hours and liquidations dropped 23%, while open interest rose 1%. That suggests traders are building positions again instead of just unwinding them. In Bitcoin, funding ticked up slightly, which means longs are paying a bit more to keep their positions open.
