The market continues to feel the aftermath of the largest liquidation event in its history. On the morning of October 17, 2025, all major crypto assets are trading lower.

Bitcoin is down to $108,766 (–2.1% daily), Ethereum has fallen below $4,000 to $3,909, and Solana (SOL) is trading at $186, down 3.3% from the previous day.

The renewed sell-off is driven by growing concerns about the health of the U.S. credit market. The S&P Regional Banks Select Industry Index dropped 6.3% on Thursday — the sharpest decline since April, when Trump’s tariffs sparked a massive selloff.

Zions Bancorp shares fell 13% after a $50 million write-off related to a loan from its subsidiary, California Bank & Trust. Consequently, all major U.S. stock indices also moved lower: S&P 500 by 0.63% and Nasdaq by 0.47%.

The only asset showing growth is gold, which climbed to $4,360 per ounce. Investors view it as a safe haven amid mounting financial risks.

Bitcoin bulls are now turning their hopes toward the U.S. Federal Reserve. Further interest rate cuts appear more likely amid concerns over the credit sector, which could support risk assets such as Bitcoin.

For now, fear prevails: the Bitcoin Fear & Greed Index stands at 28 points — deep in fear territory. Institutional investors are also reducing exposure, with $530 million withdrawn from Bitcoin ETFs on October 16.

Analysts note that the ongoing gold rally may eventually benefit Bitcoin. Trader Donny posted on X: “I’ve raised my BTC cycle targets to the $182,000–$300,000 range.”

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