Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies were trading slightly higher in the morning hours of October 20, following a tumultuous week.

According to Kraken, at the time of writing, Bitcoin was up 3% in the past 24 hours, trading at $111,018. Ethereum climbed by 2.9% to trade hands at $4,035.85.

XRP witnessed a 3.4% increase and was trading at $2.46, while Solana (SOL) was trading at $192.17 after gaining 1.7% overnight.

Meme coins also experienced gains. Dogecoin (DOGE) was up by 3.6%, while Shiba Inu (SHIB) saw gains of 2.1%.

The overall market cap also increased by 2.7% and stood at $3.85 trillion.

Related: Markets reel despite Trump's U-turn on China 100% tariff

Market sentiment improvement comes ahead of the roundtable conference on payments innovation on Oct. 21. Hosted by the Federal Reserve, leading industry figures will discuss the evolving landscape of money and payments. Representatives from Chainlink, Paxos, Circle, and Coinbase are listed among the panelists. The Fed said it “welcomes the opportunity to consider a broad range of perspectives” on how to further modernize the U.S. payment system.

Moreover, last week, U.S. President Donald Trump signaled a softer stance on trade tariffs. In an interview with Fox Business, the President mentioned that imposing a 100% tariff over and above the existing trade tariff on China was \\"not sustainable.\\"

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On Oct. 10, the crypto market plunged after Trump announced plans to impose a 100% tariff on Chinese imports starting Nov. 1 or potentially sooner. The announcement triggered a wave of panic selling, with over $7.5 billion in leveraged positions wiped out within an hour, including $6.22 billion in longs and $1.29 billion in shorts.

Within the next 24 hours, total liquidations surged past $19 billion, impacting around 1.67 million traders across major assets.

Related: Federal Reserve removes massive hurdle for crypto bankers

The sudden cascade put immense pressure on the trading infrastructure. Binance reported “system strain” before restoring operations and said services were “progressively returning to normal.” Coinbase also experienced latency issues and degraded performance, but later confirmed it had fully resolved the disruption.

This story was originally reported by TheStreet on Oct 20, 2025, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.