The cryptocurrency market entered the final day of October on a cautious note, with Bitcoin (BTC), Ethereum (ETH), and Pump.fun (PUMP) all struggling to recover from earlier declines.
Bitcoin price faced heavy resistance at the 78.6% Fibonacci retracement level, drawn from the April 7 low of $74,508 to the October 6 all-time high of $126,199, before being rejected near $115,137 on Monday. Since then, BTC has dropped 5.44%, hovering near $109,100 at the time of writing.
If selling pressure persists and Bitcoin closes below the 61.8% Fibonacci retracement level at $106,453, further downside toward the October 10 low of $102,000 remains possible. Traders are watching whether renewed risk appetite in traditional markets could help stabilize sentiment, or if institutional profit-taking ahead of the Fed’s policy updates will continue to weigh on prices.
Ethereum Holds Above Support: Developers Confirm Fusaka Upgrade
Ethereum (ETH) also extended its correction midweek after being rejected at the 100-day Exponential Moving Average (EMA). The second-largest cryptocurrency briefly dipped below $3,700 on Thursday before recovering to hover near $3,800 by Friday’s Asian session.
According to data from Coinglass, the network saw $220.8 million in liquidations over the past 24 hours, including $190.3 million in long positions, highlighting the sharp unwinding of leveraged trades during the pullback.
Still, optimism remains among ETH supporters after developers officially locked in December 3 for the highly anticipated Fusaka network upgrade, expected to improve scalability and efficiency on the Ethereum blockchain. If Ethereum maintains support above $3,700, bulls may attempt to retest the $3,950–$4,000 zone in the coming sessions.
Pump.fun Extends Losses
The Pump.fun (PUMP) token remained under pressure during Friday’s session, falling nearly 1% after a 15% decline the previous day. The launchpad token has struggled to break through the R1 Pivot Point at $0.005275, repeatedly facing rejection along a descending resistance trendline connecting the September 14 and October 3 peaks on the four-hour chart.
At present, the nearest support levels are identified at the S1 Pivot Point ($0.003864) and S2 Pivot Point ($0.002933), which could serve as potential bounce zones if the sell-off deepens.
The weakness in Pump.fun also mirrors the broader downturn seen across smaller-cap projects such as Virtuals Protocol and Ethena, both logging double-digit percentage declines this week as investors shifted toward safer assets amid renewed volatility.
Cautious Optimism as November Approaches
As October closes, the crypto market remains at a crossroads. Bitcoin’s consolidation near $109,000, combined with Ethereum’s fragile support above $3,700, signals that traders are awaiting new catalysts possibly from macroeconomic data or institutional inflows to establish clear direction.
Should risk sentiment improve heading into November, digital assets could see renewed inflows. However, failure to hold current support zones might trigger deeper corrections, particularly in the altcoin segment.
