A day in the red: 8 of the 10 largest cryptocurrencies fall and the top 10 drop by an average of 1,16%.
Market data as of 20:55 (peninsular time) on 16/10. Prices change continuously.
The key points of the day
- Bitcoin and Ethereum: BTC 72.005 € (-1,91%), ETH €2.133 (-2,28%).
- What moved the most: Celestia + 14,49 %Near Protocol -7,11%.
- The reason for the day: The session combined a more restrictive macroeconomic environment with concerns about funding for artificial intelligence companies, factors associated with crypto liquidations.
What has moved the market
Macroeconomic pressure from a higher-than-expected US PPI and concerns about funding for artificial intelligence companies are factors associated with crypto liquidations. View source
Rotation within altcoins: Celestia and Injective led the gains while Bitcoin remained virtually unchanged. View source
Rotation towards altcoins with better relative performance than BTC, with TIA and INJ standing out in hedges on October 16 (CoinDesk: ). View source
More restrictive macro readings put pressure on the crypto market in general (CoinShares: ). View source
Celestia (AUNT) It goes up 14,49%
Celestia goes from €0,52 to €0,60 in 24 hours.
- Celestia led altcoin gains, rising approximately 16%. The news attributes the move to an upward breakout from its consolidation range, with the price above relevant moving averages and improved technical momentum.
- TIA rose sharply on October 16 as several hedges positioned it as the leader of the altcoin rally: CoinDesk reported that Celestia gained 16% and associated it with a 2026 high, in parallel with an improved market tone and the absence of a clear restrictive signal on rates.
- The same coverage explained that the rally coincided with Celestia Fibre's evolution milestone of 3.07 terabits per second and the Sustainable Blob Economy economic improvement proposal, which reinforced the fundamental narrative behind the movement.
Near Protocol (NEAR) falls 7,11%
Near Protocol drops from €4,76 to €4,42 in 24 hours.
Possible factor, unconfirmed:
- A postmortem was published regarding the $3,8 million NEAR Intents exploit, attributed to a flaw in deposit notifications. The report indicates that the funds were returned and affected users were compensated, which may have put downward pressure on NEAR, although the source does not explicitly link the announcement to the 7,11% drop observed in Bit2Me.
- NEAR fell on a hedging report dated October 16 that linked it to an intraday correction while the token remained strong due to leveraged trading and high flows; a note indicated that NEAR was retreating despite a previous session of rebound, with increased activity in derivatives and an overbought reading raising the risk of a pullback.
- Another news item from the same day attributed the movement to the expansion of its MPC network to 17 mainnet operators and the approval of the HSP-007 program, which introduces incentives funded by the protocol; that combination was presented as support for NEAR's positive narrative, although the connection to the one-off outage is indirect.
Sources: Primexbt · Coinedition · Tmgm
To understand it better: What is Near Protocol?, at Bit2Me Academy.
Injective Protocol (INJ) It goes up 2,32%
Injective Protocol goes from €7,46 to €7,64 in 24 hours.
- CoinDesk identified Injective among the leading altcoins of the session, with a rise of 7,7%, in a context of relative strength of certain altcoins against Bitcoin.
- A report from October 16 included Injective among the day's biggest gainers, amid a rise in altcoins against bitcoin; the report mentioned that INJ advanced 7.7% along with TIA and LayerZero.
Sources: CoinDesk
Bitcoin (BTC) falls 1,91%
Bitcoin drops from €73.405 to €72.005 in 24 hours.
- The crypto market was exposed to a US PPI of 6,3% year-on-year, a more than four-year high, along with concerns about credit and funding for artificial intelligence companies; the news links these factors to Bitcoin falling below $80.000 and nearly $1.000 billion in liquidations.
Sources: Kucoin
To understand it better: What is Bitcoin?, at Bit2Me Academy.
The rest of the top
XRP (-3,87%), Uniswap (-3,63%), Hyperliquid (-3,49%), Sui (-3,14%), Solana (-2,97%) and Ethereum (-2,28%) fell without any news of their own in the window, in line with the general market correction.
Top 10 Prices
| Criptomoneda | Price | 24 h | Operate |
|---|---|---|---|
| Bitcoin BTC | 72.005 € | -1,91% | Operate |
| Ethereum ETH | 2.133 € | -2,28% | Operate |
| Solana SOL | 91,56 € | -2,97% | Operate |
| XRP | 1,15 € | -3,87% | Operate |
| Near-Protocol NEAR | 4,42 € | -7,11% | Operate |
| Injective protocol NJI | 7,64 € | + 2,32 % | Operate |
| Sui | 0,89 € | -3,14% | Operate |
| Hyperliquid HYPE | 70,30 € | -3,49% | Operate |
| Celestia TIA | 0,60 € | + 14,49 % | Operate |
| Uniswap UNI | 6,37 € | -3,63% | Operate |
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Crypto market today: the latest summary and archive for the last 30 days
Generative artificial intelligence tools were used to create this article.
