The last 24 hours have been more than turbulent for the cryptocurrency sector. Bitcoin (BTC), whose price finally registered a substantial green candle, lost all the gains and briefly tumbled below $108,000.

Many of the leading altcoins have charted a similar trajectory, while Zcash (ZEC) remains one of the top performers with a double-digit increase for the day.

BTC Experiences Massive Volatility

The leading cryptocurrency was trading in the $107,000 – $109,000 range yesterday (October 21), but that consolidation was suddenly interrupted towards the evening. At that time, the Federal Reserve held a meeting, during which it revealed it was looking into “payment accounts” that would grant crypto and fintech companies access to Fed payment rails.

The crypto market took this as a positive sign, and BTC soared to $114,000 immediately after the news came out. It is important to note that the revival coincided with the price downtrend of gold, as some analysts assumed that capital had started rotating from the yellow metal towards the digital asset.

As CryptoPotato reported, BTC’s price pump resulted in multi-million-dollar liquidations, with hundreds of thousands of traders getting wrecked due to opening too risky positions with high leverage.

However, the bulls could not maintain their momentum, and Bitcoin’s valuation headed south just as aggressively. The asset lost all its gains and briefly tumbled below $108,000 before slightly rebounding to the current $108,200.

Some X users noted that the retreat occurred after American President Donald Trump threatened China with the implementation of 155% tariffs starting on November 1.

Following that turbulence, BTC’s market capitalization now stands at around $2.16 trillion, whereas its dominance against the altcoins is approximately 57.5%.

ZEC and These Alts Enter Green Territory

Ethereum (ETH) performed quite similarly to BTC. It spiked to almost $4,100 before dipping to $3,850. The other leading altcoins, including Solana (SOL), Binance Coin (BNB), Ripple (XRP), Dogecoin (DOGE), and Cardano (ADA), are also trading around their figures from yesterday.

Those posting some significant losses are Aster (ASTER), Mantle (MNT), and Pump.fun (PUMP). ChainOpera AI (COAI) and Zcash (ZEC) are on the opposite corner with daily gains of 57% and 10%, respectively.

The total cryptocurrency market capitalization stands at roughly $3.75 trillion, or more or less the same level as it was 24 hours ago.

The post Bitcoin Unable to Sustain Above $110K, Zcash (ZEC) Pumps by 10%: Market Watch appeared first on CryptoPotato.