Crypto Market Cap Fell About $340 Billion in October as Bitcoin Share Grew

Total crypto market capitalization fell about $340 billion in October as Bitcoin’s share of the smaller market rose and public venue feeds recorded $6.22 billion in forcibly closed futures positions.

UTC daily snapshots put the market’s value at $2.94 trillion on Oct. 1 and $2.60 trillion on Oct. 31, a calculated decline of 11.6%. The Oct. 31 reading was taken around 7:55 p.m. ET (23:55 UTC), using the final five-minute point of that UTC day. The Oct. 1 figure was reconstructed from tracked assets; the series used a global market measure from Oct. 2 onward.

Market capitalization is calculated by multiplying each tracked asset’s price by its circulating supply. It can change as prices or circulating supplies change, so a decline in market capitalization is not a dollar-for-dollar measure of cash withdrawn from the market.

Bitcoin (BTC) closed at $77,423.98 on Coinbase’s BTC-USD market at 8 p.m. ET Oct. 31 (00:00 UTC Nov. 1). That was down 7.34% from its $83,556.14 close at 8 p.m. ET Sept. 30 (00:00 UTC Oct. 1).

Bitcoin’s share of tracked market value rose from 58% on Oct. 1 to 59.8% on Oct. 31, an increase of 1.8 percentage points. The change means Bitcoin represented a larger portion of the measured market as its total value fell; it does not by itself show that investors moved cash into BTC.

Public liquidation feeds from seven venues recorded $6.22 billion in crypto futures positions forcibly closed during October. Long positions accounted for $4.27 billion and short positions for $1.95 billion. The reported amount measures position value, not traders’ net losses.

The tally is incomplete: Oct. 8 was unrecorded, and some venue feeds publish only samples. The reporting period ended at 8 p.m. ET Oct. 31 (00:00 UTC Nov. 1), so the $6.22 billion figure does not represent a complete count of October liquidations.