On the evening of October 21, the leading cryptocurrency swiftly surpassed the $113,000 mark after a morning drop below $108,000. The coin gained 2.2% over the day.
At the time of writing, Bitcoin is trading around $113,600. Ethereum nearly reached $4,100, up 2.7% for the day.
The rest of the crypto market also entered the “green” zone. SOL gained 4%, XRP 2.4%, and ADA 2.8%.
Liquidations over the past day reached $532 million, split almost evenly between longs ($255 million) and shorts ($276 million). However, short positions have been predominant in recent hours.
The Crypto Fear and Greed Index rose from 29 to 34 points.
Stronger Than Gold
Alongside Bitcoin’s rise, gold experienced its largest daily drop since April 2013, nearly 6%.
Analyst Michaël van de Poppe noted that the precious metal had a “good correction,” indicating capital is flowing into the leading cryptocurrency and altcoins.
Bitcoin-supporting lawyer Joe Carlasare opined that gold “will never become a store of value” and “will fall to zero,” adding that it “can’t even be used to buy coffee.”
Gold won’t go to zero. But bitcoin is better. https://t.co/4mvErh5bOE
— CZ 🔶 BNB (@cz_binance) October 21, 2025
“Gold won’t go to zero. But Bitcoin is better,” replied Binance founder Changpeng Zhao to the post.
Many market participants have noted the capital rotation. Some predict the start of another rally and preparation for new highs.
Gold is dumping, Bitcoin is pumping.
Money rotation to BTC has started pic.twitter.com/li5XkP1TpT
— Ash Crypto (@Ashcryptoreal) October 21, 2025
Back in earlier reports, the creator of the S2F model and analyst PlanB stated that fundamental indicators point to continued growth in the crypto market, despite recent corrections.