Crypto Daily | Crypto Market Trades Sideways as Layer-2 and Modular Tokens Rally; Bitcoin Whale Sells 410 BTC to Rotate $36.14 Million Into Ethereum;

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Crypto market consolidates sideways, L2 scaling and modular sectors lead gains, chain gaming token MAGIC surges nearly 40%.

October 12 — According to HTX market data, the crypto market remained range-bound, with Bitcoin edging up this morning to break above $84,000, a 24-hour gain of 0.82%. The total crypto market cap declined 0.3% in 24 hours to $2.894 trillion.

On the altcoin front, Layer 2 scaling, especially ZK and modularity-related sectors, stood out the most, with STRK, LUMIA, PLUME, MANTA, MEGA and others rallying collectively, backed by network upgrades, quantum resistance, and RWA narratives. Next, high-performance Layer 1, cross-chain interoperability, blockchain gaming, and DePIN sectors showed strong performance, with MAGIC leading the market, followed by IO, RLC, FIL, EIGEN and others.

A certain whale sold 410.14 bitcoins to switch to Ethereum, with the ETH valued at $36.14 million.

October 12th, according to Lookonchain monitoring, a mysterious whale is selling Bitcoin and swapping into Ethereum. It sold 410.14 Bitcoins, worth $34.16 million, and then bought 14,341 Ethereum on DEX, worth $36.14 million.

One year after 10/10 flash crash, bitcoin and ether liquidity have rebuilt, but altcoins still face risks

One year after the largest liquidation event in crypto history, the market’s plumbing tells a split story. Bitcoin and ether order books hold more resting liquidity now than on the day of the crash or at the start of this year. Smaller tokens and spot trading, however, have not followed.

Days after hitting a record high above $126,000, bitcoin, on the morning of Oct. 10, 2025, had edged back to $122,600. Hours later, it had plunged below $105,000, with much of the decline coming in minutes in thin Friday evening (U.S. time) trade after President Donald Trump announced 100% tariffs on Chinese imports. More than $19 billion in leveraged positions were liquidated in a single day.

Clarity's failure could speed crypto innovation while shielding incumbents

The Digital Asset Market Clarity Act’s failure to advance in the Senate has shifted the next phase of U.S. crypto regulation to the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), opening prospects for more trading and investment to move onchain while leaving a central question unresolved: how much certainty can regulators deliver without Congress?

Interviews with senior executives and legal experts suggest broad agreement that regulation will keep moving. Their expectations diverge over whether agency action can become a durable foundation or leave businesses adapting to rules vulnerable to political and legal change.

Bitcoin & Ethereum Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Friday was $21.13 million. The total net asset value of Bitcoin spot ETFs is $105.84 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.38%.

The Bitcoin spot ETF with the highest net inflow on October 9 was iShares Bitcoin Trust (IBIT), with a net inflow of $22.38 million, according to SoSoValue.

Source: SoSoValue

The overall net outflow of the US Ethereum spot ETF on Friday was $56.10 million. The total net asset value of Ethereum spot ETFs is $15.71 billion, and the ETF net asset ratio (market value compared to total Ethereum market value) is 5.18%.

The Ethereum spot ETF with the highest net outflow on October 9 was iShares Ethereum Trust ETF (ETHA), with a net outflow of $56.10 million, according to SoSoValue.

Source: SoSoValue