Crypto markets were lower on Oct. 22 as bitcoin lost ground alongside tech stocks and a weaker risk backdrop. At the same time, ETF demand remained constructive and Ethereum and Solana each saw headline-grabbing network proposals or upgrades aimed at faster settlement.
Bitcoin weakens as macro pressure spills into crypto
Bitcoin fell to around $81,600 at one point, with broader crypto indices also lower as Nasdaq futures declined and risk appetite faded. CoinDesk also reported bitcoin slipping below $82,000 as traders reacted to a broader risk-off move tied to tech weakness and other market stress.
ETF inflows stay positive, but not yet at prior rally pace
U.S. spot bitcoin ETFs took in $1.08 billion over three trading sessions, including another $528 million in one day, pushing October flows back above water. CoinDesk also noted that the inflow pace remains below levels associated with past sharp bitcoin rallies.
Sources: Cointelegraph, CoinDesk
Ethereum and Solana push faster settlement plans
Ethereum has a draft settlement plan that would reduce the time for transactions to become final by roughly four times, with the goal of lowering the capital burden for payment services. Solana also completed a major network upgrade that targets settlement in about 150 milliseconds while keeping users on their existing wallets.
Stablecoin and regulation stories remain active
SoFi launched a tokenized deposit product that represents $1 on deposit, pays 4.40% APY and can convert into a stablecoin-like form, with FDIC insurance noted in the report. Separately, Coinbase’s European policy head argued the UK’s planned 2027 crypto rules could effectively block regulated firms from offering DeFi access, while the Cardano Foundation urged the EU not to expand MiCA to DeFi and staking.
Sources: Decrypt, Cointelegraph, Cointelegraph
Asia-focused legal and enforcement actions continue
Chinese prosecutors are seeking to confiscate more than 61,800 bitcoin tied to a $5.7 billion fraud case, after a UK court ruling on the coins, and a separate report said prosecutors in another China-linked case want to seize $5.1 billion in bitcoin after a notice period. In Italy, police said they busted a mafia-linked underground banking operation that moved money abroad and into crypto, seizing $24 million.