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Bitcoin (BTC) and the broader crypto market slipped into the red following the Federal Reserve’s recent 25bps interest rate cut, igniting a familiar debate across trading desks: is this simply a “sell the news” shakeout, or the early stages of a more sustained downturn — a possible prelude to another crypto winter?

BTC is currently struggling beneath the $110,000 level, signaling uncertainty and hesitation among traders as volatility rises and sentiment weakens. The initial optimism that typically follows pro-liquidity policy shifts was overshadowed by renewed selling pressure, suggesting that markets may be recalibrating after months of aggressive speculative positioning and a historic liquidation earlier in October.

For now, analysts are split. Some argue this pullback reflects normal market digestion following a major macro catalyst, consistent with previous rate-cut cycles where risk assets dipped before resuming higher. Others warn that loss of key technical levels may open the door to deeper downside if demand fails to re-emerge quickly.

With Bitcoin hovering near critical support and macro conditions in transition, the coming weeks are expected to be crucial. Whether this move marks a temporary flush or the start of a broader risk-off phase will likely define the next chapter of the crypto cycle.

Short-Term Speculators Drive Sell-Off as Long-Term Holders Stay Strong

According to a recent CryptoQuant analysis by CryptoOnchain, the sharp market drop on October 30th was driven overwhelmingly by short-term traders rather than long-term investors. As volatility surged, more than 10,000 BTC flowed into Binance — typically a bearish signal, as rising exchange inflows often precede selling pressure. But digging deeper into the on-chain data reveals a very different story beneath the surface.

The Spent Output Age Bands (SOAB) metric shows that 10,009 BTC of that inflow came from coins held for less than 24 hours. In other words, nearly the entire wave of selling originated from “hot money” — short-term traders reacting emotionally and quickly to macro headlines and market turbulence. These are speculative participants, not long-term strategic holders.

In contrast, inflows from Long-Term Holders — coins held for six months or more — were negligible. The market’s most resilient participants, often referred to as diamond hands, did not rush to sell. They did not send BTC to exchanges, did not panic, and did not contribute to the downturn.

This divergence is crucial. It confirms that the sell-off was a liquidity flush, not a shift in long-term conviction. Investor psychology, not fundamentals, drove the move.

Far from signaling the start of a crypto winter, this pattern aligns with historical shakeout behavior seen before larger continuation moves. When short-term holders capitulate while long-term holders remain steady, it typically reflects market cleansing rather than structural weakness.

In short, on-chain signals suggest the foundation of the market remains strong — and this correction appears to be a clearing event, not the beginning of a long-term downtrend.

Bitcoin Holds Mid-Range on 3D Chart

Bitcoin (BTC) is currently trading around $109,800 on the 3-day timeframe, holding mid-range after a volatile month marked by macro reactions and leveraged shakeouts. Despite recent downside pressure, the broader structure remains intact, with BTC still comfortably above the 100-period moving average (green line) and well above the 200-period moving average (red line) — signaling that the long-term trend remains bullish.

Price continues to consolidate between $108,000 support and the critical $117,500 resistance zone, which has acted as a major supply barrier throughout this consolidation phase. Each attempt to break above $117,500 has been met with selling, confirming it as the cycle’s Point of Control and the key level for bulls to reclaim to regain momentum.

On the downside, the $108,000–$105,000 area has repeatedly served as a demand region, supported by buyers stepping in during pullbacks. Losing that zone on the 3D close would introduce risk of deeper correction toward $100,000–$102,000, where structural support and prior breakout levels converge.

Featured image from ChatGPT, chart from TradingView.com

Tether, the issuer of the world’s largest stablecoin, USDT, has announced impressive financial results in its third-quarter (Q3) attestation report, revealing year-to-date profits that exceed $10 billion. 

Tether Discloses Billions In Gold And Bitcoin Holdings

The third quarter of 2025 marked a significant milestone for the firm, with over $17 billion in new USDT issued—one of the company’s strongest performances to date. This surge has increased the total circulating supply of USDT to over $174 billion.

In terms of financial exposure, Tether’s holdings in US treasuries, both direct and indirect, have reached an all-time high of approximately $135 billion. This positions the company as one of the largest holders of US government debt, surpassing South Korea to rank as the 17th largest among nations holding US Treasuries. 

As of September 30, 2025, the company reported that the reserves backing Tether tokens in circulation amounted to approximately $181.2 billion, while liabilities totaled about $174.4 billion. This indicates that the value of assets supporting Tether exceeds its liabilities by approximately $6.8 billion.

Additionally, Tether’s reserves include $12.9 billion in gold and $9.9 billion in Bitcoin (BTC), together representing about 13% of total reserves. Paolo Ardoino, Tether’s CEO, commented on the Q3 results, stating: 

These results reflect the continued trust and strength behind Tether, even amid a challenging global macroeconomic environment. They reinforce Tether’s brand as the ‘Stable Company.’

He highlighted that both investors and users are increasingly turning to USDT as the most reliable and liquid digital dollar, which underscores enduring confidence in the stablecoin issuer’s operational model.

T3 Financial Crime Unit Freezes Over $300 Million In Criminal Assets

In a related effort to maintain financial integrity, the T3 Financial Crime Unit (T3 FCU)—a collaborative initiative from Tether, TRON, and TRM Labs—has reportedly frozen more than $300 million in criminal assets globally. 

The largest volumes of assistance were documented in the United States, where $83 million was frozen across 37 cases, followed by assistance in countries such as Spain, Germany, and Brazil, among others. 

The most common types of crimes investigated included illicit goods and services (39%), fraud, hacks, and activities linked to the Democratic People’s Republic of Korea (DPRK), which accounted for $19 million from the Bybit hack alone.

Ardoino emphasized the firms dedication to preserving the integrity of the financial system, stating, “Reaching the $300 million milestone demonstrates the real-world impact of blockchain technology in combating financial crime.”

He reiterated the company’s commitment to collaborating with more than 280 law enforcement agencies worldwide, aiming to monitor transactions and disrupt criminal activity effectively.

Featured image from DALL-E, chart from TradingView.com 

Bitcoin (BTC) is attempting to reclaim the $110,000 level after a sharp downside move pressured markets and triggered renewed volatility across the crypto landscape. While this pullback has been uncomfortable for short-term traders, it remains modest compared to the October 10 liquidation crash, which forced out excessive leverage and marked one of the most aggressive sell-offs of the year.

Despite the short-term turbulence, Bitcoin remains within its broader consolidation range — but the market now enters a critical phase where direction must soon resolve. Over the coming weeks, macro developments, liquidity flows, and investor positioning will likely determine whether the next impulse is upward or downward.

Fresh CryptoQuant data shows that since July 1, long-term holders (LTHs) have been steadily distributing coins, selling into strength as BTC approached and later tested all-time highs. This supply overhang has contributed to muted upside momentum, even as demand has proven strong enough to absorb much of the selling.

Bitcoin Market Still Absorbs Supply

According to analyst Axel Adler, Bitcoin continues to navigate a complex supply-demand environment defined by steady profit-taking from long-term holders (LTHs). Since July 1, LTHs have distributed roughly 810,000 BTC, reducing their total holdings from 15.5 million to 14.6 million BTC.

This represents one of the most significant distribution phases in the current cycle — a clear indication that seasoned holders have been locking in profits after years of accumulation and strategic positioning.

What makes this dynamic particularly striking is that Bitcoin has printed new all-time highs twice during this distribution phase, demonstrating that market demand has remained robust enough to absorb the substantial supply being offloaded.

Historically, similar phases of distribution from long-term holders often accompany major cycle inflection points, as capital shifts from early investors to new participants entering the market.

Adler emphasizes that while this absorption reflects market strength, it also sets a ceiling on aggressive upside momentum. As long as long-term holders continue to realize profits, the path higher is likely to remain gradual and choppy rather than explosively parabolic. Strong demand is supporting prices and preventing deeper corrections — but supply pressure is simultaneously preventing sustained breakout acceleration.

The takeaway is clear: Bitcoin is not lacking demand; it is working through supply once long-term distribution slows — whether due to exhaustion or macro reinforcement — upside potential could expand meaningfully. Until then, price action may continue to grind sideways with upside attempts meeting resistance as supply transitions to new owners.

Bitcoin Holds Above Key MA

Bitcoin (BTC) is trading around $109,900, attempting to stabilize after a recent downside move pushed price back toward the 200-day moving average (red line) — a key long-term support level that currently sits near $108,000.

This region has become an important defense line for bulls, structuring the lower boundary of Bitcoin’s consolidation range. Each time BTC has approached this zone over the past month, buyers have stepped in, signaling continued demand despite short-term weakness.

However, reclaiming momentum remains a challenge. BTC continues to struggle below the 50-day (blue) and 100-day (green) moving averages, which have converged overhead and now act as layered resistance between $112,000 and $114,000.

A sustained break above this cluster is required to re-establish bullish momentum and set up another attempt toward the $117,500 resistance — the cycle’s key Point of Control and the level that has repeatedly capped upside moves since summer.

If Bitcoin loses the $108,000 support, a deeper correction toward $105,000–$103,000 becomes likely, where liquidity and previous reaction levels sit. For now, the technical picture remains neutral-to-cautious: bulls are holding essential support, but the burden remains on buyers to reclaim lost moving averages and flip market structure back in their favor.

Featured image from ChatGPT, chart from TradingView.com

Glassnode’s senior researcher has revealed how Unrealized Loss on the Bitcoin network is still smaller than even mild bear markets in the past.

Bitcoin Relative Unrealized Loss Hit Just 1.3% Recently

In a new post on X, senior researcher at on-chain analytics firm Glassnode, CryptoVizArt, has talked about how Bitcoin currently compares to past bearish periods in terms of Relative Unrealized Loss.

The Unrealized Loss is an indicator that measures, as its name suggests, the total amount of loss (in USD) that BTC investors as a whole are carrying in their wallets.

This metric works by going through the transaction history of each coin on the blockchain to find what price it was last moved at. If this previous transaction price was more than the current spot price for any token, then that particular token could be assumed to be sitting on some net unrealized loss right now.

The exact amount of loss that the coin carries is naturally equal to the difference between the two prices. The Unrealized Loss sums up this value for all loss tokens on the blockchain.

In the context of the current discussion, a modified form of the indicator is of interest, called the Relative Unrealized Loss. This metric calculates the holder loss as a percentage of BTC’s market cap.

The advantage of the Relative Unrealized Loss over the usual metric is that it makes a comparison across two different BTC cycles more reliable. Bitcoin has seen significant growth in stored capital with each cycle, so the absolute amount of loss held by investors in bear markets also rises with each cycle. By accounting for the market cap, the indicator normalizes the Unrealized Loss across cycles.

Now, here is the chart shared by CryptoVizArt that shows the trend in the Bitcoin Relative Unrealized Loss over the last few years:

As displayed in the above graph, the Bitcoin Relative Unrealized Loss has remained at low levels during the past few months, indicating that loss among holders has stayed low in comparison to the market cap.

Even during the cryptocurrency’s latest drop, the indicator only reached a value of 1.3%, corresponding to investor loss being just 1.3% of the market cap. “In mild bear markets, this typically exceeds 5%, and in severe ones, it exceeds 50%,” explained the Glassnode researcher. “The market pain is still far from what defines a true bear phase.”

It now remains to be seen how Bitcoin will develop in the coming days, and whether the Relative Unrealized Loss will cross one of the bear market thresholds.

BTC Price

Bitcoin fell below $107,000 during its recent decline, but the coin has since seen a small rebound back to $109,500.

Ripple’s Chief Technology Officer (CTO), David ‘JoelKatz’ Schwartz, has reignited the long-running debate over decentralization by pitting the XRP Ledger (XRPL) against other major blockchains. His recent statements have drawn sharp attention across the broader crypto community, particularly for their bold claims about XRP’s role in a truly decentralized financial ecosystem. 

Ripple CTO Highlights XRP Ledger’s Unique Autonomy

An X social media account named ‘Stellar Ripple’ has spotlighted a statement from Schwartz, underscoring what he sees as a defining difference between the XRP Ledger and other blockchain networks. Stellar Ripple stated in its post on Thursday that the Ripple CTO dropped a “truth bomb,” cutting deep into the philosophy of decentralization within blockchains. 

In his post, Schwartz questioned whether users want to be their own bank or empower another intermediary in disguise. According to him, despite the decentralized branding of blockchain networks, they are ultimately designed for control, allowing certain participants to set the rules, impose transaction fees, and maintain leverage over users’ financial autonomy. 

In contrast, he described the XRP Ledger as a space free from such mediators, government influence, and protocols that could freeze or reverse transactions. This suggests that XRPL represents a purer or more superior interpretation of the decentralization narrative, where every transaction remains unalterable, resistant to censorship, and uncontrolled. 

Schwartz went on to explain that, unlike most digital assets, XRP, the native token of the XRP Ledger, exists as the only counterparty-free currency that anyone in the world can access without risk of default or confiscation. He noted that this unique feature helps XRP gain value from the activity generated on the blockchain network. Essentially, this implies that XRP’s price is intertwined with the growth of the ledger itself, providing a foundational layer that ensures liquidity and stability across every transaction. 

XRPL Expands Into Genomic Data Anchoring

As the XRPL ecosystem continues to grow, real-world adoption is gaining momentum. Crypto commentator John Squire recently pointed out an exciting new development from DNA Protocol, a system that anchors DNA to the XRP Ledger. According to the report, DNAOnChain has officially launched operations in Tunisia, extending its reach to broader markets. Notably, this project marks a significant expansion of XRPL’s use cases by anchoring genomic identity data directly on the blockchain. 

Through DNAOnChain, Squire states that certified laboratories can now securely record and verify genomic data on XRPL, effectively bridging biotechnology with blockchain innovation. The integration is expected to enhance transparency and immutability in medical and genetic research, ensuring that sensitive information is permanently verifiable without compromising privacy. 

More importantly, this new development signals XRPL’s versatility beyond cross-border payments, highlighting its potential as a data integrity layer for real-world applications. It also demonstrates XRP’s growing adoption in new industries beyond digital assets and finance.  

Crypto pundit Mickle is reminding the crypto community why XRP still holds an essential place in the digital asset world. He explains that the value of XRP stems from its foundational role in the XRP Ledger. He believes many people misunderstand XRP by comparing it to stablecoins or other tokens, but that view misses the main point. 

Mickle Says XRP’s Value Is ‘Foundational,’ Not Just A Pitch

In a recent X post, Mickle said that most people in crypto still do not understand what makes XRP special. He explained that when people ask, “What’s the current pitch for XRP?” they are asking the wrong question. To him, XRP does not need a sales pitch because its value is foundational. The cryptocurrency doesn’t depend on price movements, short-term excitement, or temporary stories. Instead, it is part of the very system that powers the XRP Ledger.

Mickle compared XRP to well-known cryptocurrencies like Bitcoin and Ethereum, noting that they share common traits. They are native, non-issued assets that exist without a counterparty, meaning they are not created or backed by any one company or government. Like these leading cryptocurrencies, XRP provides the liquidity that allows value to move and settle across its decentralized network. According to Mickle, this is what gives XRP a lasting importance. It is not a token that depends on external promises or a central authority, but the heart of a decentralized system that operates independently.

XRP Ledger Depends On XRP’s Native Role In Decentralized Settlement

Mickle also suggests that the XRP Ledger cannot exist or operate without XRP. He said this is what many people miss when they compare XRP to other digital assets. The XRP ledger was built in a way that makes XRP an important part of how value moves and settles across the network. He noted that XRP’s speed, ability to handle many transactions, and connection with other systems make it stand out from most blockchains in the crypto space.

Using Ripple’s payment tools as examples, Mickle showed how XRP plays a key role in helping different kinds of assets, like stablecoins, tokenized assets, and cryptocurrencies, move smoothly across decentralized systems. These tools make it possible to send money anywhere in the world quickly and cheaply, without going through banks or middlemen.

Mickle added that XRP is a native digital asset, while stablecoins are tied to fiat money and rely on traditional financial systems to keep their value. He said this is what makes XRP unique and gives it real independence in the digital economy. 

This distinction, he said, is the very essence of crypto and the reason XRP continues to matter as a foundational digital asset. According to Mickle, understanding this difference is what separates those who genuinely understand crypto from those who do not.

A debate on X this week exposed a core question for on-chain privacy: when quantum computers are able to break elliptic-curve cryptography (ECC), will they be able to retroactively deanonymize every transaction ever made of privacy coins like Zcash?

Nic Carter, co-founder of Coin Metrics and partner at Castle Island Ventures, argued that the answer is effectively yes for most privacy coins. “For privacy coins, even if they migrate to post-quantum cryptographic schemes, all historical transactions prior to that migration can be decrypted,” he said on October 30, 2025. “So all historical txns will be stripped of privacy in >~5y. Everything is built on ECC.”

Carter’s point is based on “harvest now, decrypt later.” Attackers don’t need to break you today. They just copy the data now and crack it once quantum is strong enough. On blockchains, that problem is worse because the data is already public and permanent. “Blockchains are uniquely bad for quantum because normally the quantum thing is ‘harvest now decrypt later’ so adversaries have to be preemptively harvesting traffic but blockchains just.. publish.. everything.. forever.”

He warned specifically that even if a privacy coin upgrades to quantum-resistant signatures in the future, old activity is still exposed once ECC falls. “While privacy coins can adopt post quantum sigs, understand that all previously hidden addresses, relationships between addresses, etc, will be revealed once ECC is broken,” Carter said. “And obviously everything is on chain so you don’t even need to harvest traffic today.”

Is Zcash Already Quantum-Resistant?

That claim triggered pushback from Zcash supporters, who argue Zcash is structurally different from something like Monero.

Mert Mumtaz (Helius) agreed that Carter’s warning applies to “many privacy coins like Monero,” but said it’s “not necessarily true for zcash’s privacy, given advanced opsec.” He acknowledged that “advanced opsec is not the norm,” but said that if it is followed, Zcash users “get you certain guarantees w.r.t information leakage.” He also said “some things are in the works to make this even stronger,” pointing to research by Zcash engineer Sean Bowe.

Bowe’s position is that Zcash’s fully shielded pool simply does not put critical sender/receiver information on the ledger in the first place. “There is no quantum computer or powerful AI that will be able to look back at the Zcash blockchain 1000 years from now and figure out who made every fully shielded transaction,” Bowe said in July this year. “That information, among other things, never even touches the ledger. It’s already gone.” His condition is clear: “To be certain about your privacy you must start by using shielded Zcash. You almost cannot even begin otherwise.”

Carter partially credits that. “Zec is definitely ahead of anyone when it comes to quantum preparedness, not denying that,” he said. But he called the “already quantum-proof” framing unrealistic in practice.

He argued that Zcash’s long-term privacy story depends on very strong assumptions that often break in the real world: “assumes pubkey never being known. assumes: no metadata collection, no exchange key leaks, perfect metadata privacy.”

He added that Zcash’s shielded pools — Sprout, Sapling, Orchard — still “rely on ECC for key exchange, viewkeys, proof verification, which are all broken” under a powerful quantum adversary. His conclusion: “unrealistic to say zec privacy is perfectly q resistant. linkages between addrs are forever encoded on the blockchain, you and Sean know that. store now decrypt later still applies.”

In other words: Zcash builders say that if you stay fully shielded, the chain itself won’t hand quantum attackers a clean map of who paid whom. Carter says that in the real world, users leak, exchanges leak, metadata leaks — and once ECC breaks, those leaks plus the permanent ledger are enough to unwind the privacy anyway.

One final note: when asked directly, Carter denied holding ZEC. “Nope.”

At press time, ZEC traded at $366.

A lively discussion about XRP’s true purpose and utility erupted on X after prominent crypto analyst Scott Melker posed a sincere question to his 1 million followers: what exactly is the current pitch for XRP? The token itself, not Ripple the company.

His inquiry attracted different responses from both supporters and industry commentators on detailed explanations of how the XRP Ledger functions and what role XRP plays within it. The conversation drew in notable voices, including Santiago Velez and David Schwartz, Ripple’s Chief Technology Officer.

How The XRP Ledger Works And The Role Of Rippling

In his detailed response, crypto commentator Santiago Velez explained that XRP serves several foundational functions within the Ledger. At its core, the Ledger uses the token to prevent spam and distributed denial-of-service (DDOS) attacks. Each transaction carries a small fee denominated in XRP to deter network abuse. 

However, its utility extends far beyond that technical safeguard. Velez also noted that XRP was designed to facilitate a process known as rippling, which allows users to exchange equivalent tokens under the same currency code through an intermediary account. 

This mechanism was central to the Ledger’s early design and was part of the system’s built-in decentralized exchange (DEX), the first of its kind in crypto history. As such, the token operates as a bridge currency that allows easy inter-currency pathfinding without relying on intermediaries or centralized issuers. According to Velez, no other large Layer-1 blockchain is built with this specific function in mind, apart from Stellar, which originated as a fork of XRP.

Questions On The Long-Term Value Of The Altcoin

After receiving the explanation, Melker acknowledged the Ledger’s technical sophistication, calling it an elegant and forward-thinking design that was far ahead of its time. He praised its built-in features, such as the anti-spam mechanism, native DEX, and neutral bridge function, noting that these innovations solved real-world problems in settlement and cross-border payments long before many of today’s leading blockchains were created. 

However, Melker posed another question about the token’s long-term economic sustainability: whether these design strengths translate into lasting demand for the token itself. He pointed out that while the ledger’s features serve technical purposes, they do not necessarily guarantee consistent price appreciation. 

In his view, spam prevention does not generate token demand. Pathfinding may bypass the altcoin in some cases, and stablecoins’ stability and simplicity have become more appealing to institutions than XRP.  This opens the question of whether it is adopted anywhere near the scale that it’s being promoted.

Ripple’s CTO, David Schwartz, later joined the conversation to provide his perspective on the token’s value. He noted that the Ledger offers something no other blockchain can, which is an open system where users can act as their own banks, free from middlemen like stablecoin issuers that can tax transactions.

According to Schwartz, the altcoin’s special place on the Ledger ensures that it captures some of the value generated by network transactions. As the only non-IOU asset accessible to every account worldwide, the asset holds a unique status that protects it from default, freezing, or clawback risks.

Even though the price of Cardano has shown robust weakness over the past few days, the network’s activity remained strong, delivering a notable performance during this period. A recent report has revealed that the leading blockchain has experienced a sharp growth in terms of Adjusted On-chain Volume.

Surge In Cardano’s Adjusted Transaction Volume

The leading Cardano network appears to be significantly growing and thriving in the midst of ongoing bearish price performance, which has caused ADA to fall back to the $0.60 mark. In a post on the social media platform X, TapTools has outlined the blockchain resilience as its Adjusted On-chain Volume explodes.

According to the expert, the network has processed more than $6 billion in adjusted on-chain volume as of Thursday. The on-chain volume ultimately reached the aforementioned value after attracting a more than 21% increase.

Specifically, the kind of growth highlights a fresh wave of network activity, indicating that both traders and long-term holders are shifting their positions. As ADA responds to changes in the larger cryptocurrency market, this uptick is likely a sign of rising liquidity and network usage.

It is worth noting that Cardano recorded a massive rise in adjusted on-chain volume despite the number of active addresses on the blockchain seeing a slight decline. Data shared by TapTools shows that the total number of active addresses is currently situated at around 21,930 following a 2.71% drop on Thursday.

This slight drop in active addresses on the blockchain may suggest that short-term users are taking a step back due to the shifting market environment. The chart also showed other key metrics such as Top 100 Holder Share, Net Unrealized Profit and Loss, STH vs LTH Supply Distribution, among others. 

Cardano’s Top 100 holder share currently stands at 29.04% while its net unrealized profit and loss is at the 0.05 level. Meanwhile, the STH vs LTH Supply Distribution shows 48% of short-term holders are distributing, and 52% of long-term holders are distributing.

Growing Institutional Demand Towards ADA

Cardano’s price decline has not hindered institutional demand for ADA, as evidenced by the notable accumulation from American-based cryptocurrency exchange, Coinbase. Coinbase is doubling down on the altcoin, with its cbADA proof of reserves surging to 17.48 million ADA.

TapTools highlighted that the platform acquired over 9.56 million ADA in less than a month, bringing its total supply held to 17.48 million ADA. This move up represents an 83% increase in wrapped Cardano holdings, which suggests that on-chain demand continues to accelerate.

During this period, ADA’s Open Interest on Coinbase also experienced an increase. Data from TapTools shows that ADA’s open interest on the platform rose to $2.2 million. According to TapTools, this rise in open interest is another sign of increasing demand in the Cardano market.

Sam Bankman-Fried on Friday pushed back against the common view of FTX’s collapse, saying the exchange was not insolvent when it failed in November 2022.

According to a document posted on X on October 31, 2025, his team argues the company suffered a sudden liquidity run rather than a balance-sheet shortfall.

The filing claims there are roughly $14.6 billion in estate assets versus about $8 billion in customer claims.

Claims Of Solvency And Asset Totals

Bankman-Fried’s filing asserts that roughly $8 billion of customer liabilities never left the exchange’s estate. It says legal and advisory costs have been sizable — roughly $1 billion — but that large asset recoveries since 2022 mean creditors are in line for healthy payouts.

Reports have disclosed that 98% of creditors have already been repaid about 120% of their claims, and the filing projects final customer repayments could fall between 119% and 143%.

[SBF says:]

This is where the money went. https://t.co/HVRwEw5Z1k https://t.co/5DrA13L5YE pic.twitter.com/O6q77DvmTn

— SBF (@SBF_FTX) October 31, 2025

The document shifts blame in part to outside advisers and the emergency management team brought in after the collapse.

It names the law firm Sullivan & Cromwell and interim CEO John J. Ray III as having steered the bankruptcy process in ways that, the filing contends, made rescue or rapid resolution harder.

The tone is defensive, and the numbers are presented as evidence that the estate can cover claims.

Critics Challenge The Account

But not everyone accepts that account. Based on reports from on-chain investigators and others, critics say the figures don’t settle the key question: was FTX solvent at the moment customers tried to withdraw funds?

On-chain researcher ZachXBT and other analysts point out that the value of many recovered assets has risen since November 2022, and that using today’s prices to declare past solvency can mislead.

The distinction between having assets that can eventually pay people and having liquid cash at the height of a run is at the center of the disagreement.

Investigators, court filings and prior testimony in criminal proceedings highlighted governance failures and risky ties with Alameda Research.

Those findings remain part of the public record and complicate any simple claim that the business was merely a victim of timing.

Legal observers also note that bankruptcy costs and litigation risk can meaningfully reduce what is ultimately available to customers.

What This Means For Customers And The Industry

For former customers, the most immediate question is how repayments are calculated. Reports have disclosed that some sums will be based on November 2022 valuations rather than current market prices.

That approach can leave users short if asset prices later climbed. Even if the estate yields payouts above 100% of claims, the timing and basis of those payments matter to actual recoveries.

If Bankman-Fried’s portrayal gains traction, it would reframe parts of the story from one of clear insolvency to a debate about timing, liquidity and post-collapse management.

Regulators and creditors are watching closely. The legal and financial aftermath of FTX’s failure is still unfolding, and competing narratives about responsibility and recovery will shape how similar collapses are handled in the future.

Featured image from Tom Williams/Getty Images, chart from TradingView

U.S. President Donald Trump revealed that he had reached a deal with China’s President Xi Jinping in relation to trade relations. Despite his revelation, Bitcoin and Ethereum prices declined sharply, sparking concerns of an imminent bear market. 

Donald Trump Makes Deal With China, But Bitcoin and Ethereum Decline

In a Truth Social post, Donald Trump announced that he and China’s president agreed on “many things,” while others of high importance were close to being resolved. As part of the agreement, the U.S. president stated that the proposed 100% tariffs would no longer go into effect and reduced the tariffs on China from 57% to 47%. However, despite these deals between the two countries, Bitcoin and Ethereum prices crashed following his announcement. 

The Bitcoin price dropped to as low $107,000 following the U.S.-China agreement, which included a 1-year truce. Meanwhile, Ethereum dropped to as low as $3,7000 on the day amid a broader crypto market crash. A trade deal between the U.S. and China was expected to spark a significant market rally, given that trade tensions had initially contributed to the $19 billion liquidation event on October 10. 

However, the trade agreement between U.S. President Donald Trump and China’s president appeared to have been priced in, which is why Bitcoin and Ethereum, along with the broader crypto market, crashed. Notably, the market had rallied on Sunday after the U.S. Treasury Secretary Scott Bessent revealed that they had reached a trade framework for both presidents to work with. 

It is worth noting that Fed Chair Jerome Powell’s speech contributed to the decline in Bitcoin and Ethereum prices. Powell had mentioned at the FOMC press conference that a December Fed rate cut was far from certain. This sparked bearish sentiment in the market as traders are currently pricing in another 25 basis points (bps) cuts at the December FOMC meeting. 

Slowdown In Demand For BTC and ETH

A CryptoQuant analysis revealed a noticeable slowdown in U.S. investor demand for Bitcoin and Ethereum across both spot and derivatives markets. The analysis indicated this was one of the reasons for the lower BTC and ETH prices. ETF inflows, spot exchange premiums, and futures basis metrics all suggest that this current phase reflects “profit-taking and cautious positioning” rather than renewed accumulation. 

CryptoQuant further noted that U.S. spot Bitcoin ETFs have turned net sellers, with a seven-day average outflow of 281 BTC, which is one of the weakest readings since April. Similarly, the Ethereum ETF inflows have almost stalled since mid-August, which underscores “subdued investor confidence.”

Related Reading: Ethereum Is Now Outperforming Bitcoin In This Major Metric

The analysis also revealed that spot demand on U.S. crypto exchanges has slowed. The Coinbase premium for both Bitcoin and Ethereum has reached zero, which underscores the slowdown in demand. CryptoQuant noted that price rallies historically coincide with positive premiums. As such, the flattening indicates reduced domestic buying pressure.

In a sudden pullback on Thursday, the price of Bitcoin has fallen below the $110,000 level again as the broader cryptocurrency market shifted toward a more bearish state. Even with the bearish performance in BTC’s price, many investors continue to hold on to their coins instead of selling them off.

No Major Shift In BTC Exchange Withdrawals

Bitcoin investors on crypto exchanges are still exhibiting positive behaviors amid waning market performance. Joao Wedson, the founder of Alphractal and author at CryptoQuant, stated that the number of Bitcoin withdrawals from crypto exchanges has remained almost unchanged, reflecting a period of calm and caution among market participants.

After delving into the Bitcoin Exchange Withdrawal Count metric, the market expert stated that investors have maintained this trend since October 2024. Investors are keeping their present exchange balances, neither hurrying to get self-custody nor flooding the market with new inflows, despite recent price swings and shifting attitudes.

Wedson highlighted that this stability is reflecting something crucial: The market is witnessing low on-chain engagement for Bitcoin for the first time in a cycle. Instead of transferring money straight into the blockchain, data indicates that a large number of investors are opting to store their BTC on exchanges or conduct transactions there.

Meanwhile, the expert has compared the Bitcoin On-Chain Volume with the On-Chain Volume of Stablecoin. After his comparison of the two key metrics, Wedson has revealed a striking difference. 

Presently, the on-chain activity of Bitcoin is at its lowest point ever, which suggests that very few are making use of the blockchain. However, the volume of stablecoins is soaring, hitting new highs every day.

What this simply means is that Bitcoin’s blockchain is silent while stablecoins are bolstering liquidity across the market. “A contrast that says a lot about investor behavior in this phase of the cycle,” Wedson added. In the meantime, this stability in exchange withdrawal activity reflects a neutral stance, as traders watch for more precise clues regarding Bitcoin’s next significant move.

Whales Are On A BTC Buying Spree

Despite the fluctuating price performance, large BTC investors or whales are steadily active in the market. Ali Martinez, a seasoned market expert, has revealed that bullish action has been observed among these key investors. 

According to Martinez, the Bitcoin network is seeing an increase in whale activity as transactions exceeding $1 million surge. Data shows that the total number of transactions of this size has reached 6,311, marking a two-month high. 

With deep-pocketed investors’ transactions increasing during a decline in price, this movement might suggest that the investors are repositioning themselves for the next possible bullish wave. Furthermore, it may be a sign of increased optimism about BTC’s medium-term prospects or, on the other hand, of calculated profit-taking as the market becomes more volatile.

Cardano’s founder Charles Hoskinson says the project has crossed a historic line — full decentralization — and argues that the market still hasn’t understood what that actually means for crypto going into the next cycle. “The best days are ahead of us,” he said on October 30, 2025. “Cardano’s here. We’re fully decentralized. We have a great government. We got many more things coming.”

Hoskinson framed the current moment not as a price story but as a legitimacy story. He said crypto keeps getting reduced to charts, even though price has never captured the point. He walked through Bitcoin’s entire boom-and-bust path — from $1 to $30 to $4, then to $250, down to $80, then $1,200, then $20,000 in 2017, down to $4,000, back to $68,000 in 2021, through the Luna/FTX collapse, and then above $100,000 — to make the point that volatility is noise. “All you care about is the price. It’s the price. Price goes up, price goes down,” he said. “But why are we here? Where has the durability come from over the last 15 years?”

Why The Best Is Ahead For Cardano (And Crypto)

His answer: people do not trust legacy systems anymore, and crypto is actively replacing them. He asked viewers directly: “Do you think the money in your pocket is actually going to be worth something in 10 years, 15 years, 20 years? Do you feel listened to? Do you feel valued?” If the answer is no, he said, then “the way we govern things, the way the markets work, the way the economy works, it’s not working for you. Why crypto exists is it starts a conversation about how we do things differently.”

Hoskinson said that conversation has already moved past ideology and into implementation, and he used Cardano’s governance shift as evidence. According to him, Cardano went in about a year “from a federated governance system to a completely open and decentralized governance system,” despite predictions that handing decision-making to a global community would end in chaos.

“Everybody said, ‘Oh, no. You can’t do that… Won’t that result in anarchy and chaos?’” Hoskinson said. His answer was that Cardano did it, the network still runs, and that matters. “We keep showing up. We keep fighting hard,” he said. “That can serve as an example to so many others.”

That point — Cardano as precedent — ran through the entire address. He argued that crypto now has nation-state level relevance, not just speculative relevance. He claimed there is “a better than 50% chance that by 2030, half of all the value in the economy of Argentina will be in cryptocurrencies,” and “a better than 50% chance that the majority of their government will run on a blockchain… their voting systems to their identity systems to their supply chain systems to their money.”

He also said crypto already serves “a half billion people,” and is on trajectory toward a billion users “within the next 3 to 5 years.” In his view, this is not hype. It’s the new baseline: “Every single day we have a trillion plus dollar economy that’s self-evolving, self-growing.”

He also drew a hard line between decentralized crypto and what he called captured, centralized finance using crypto rails. “Asset-backed stablecoins are not cryptocurrencies,” Hoskinson said. They “take advantage of cryptocurrency infrastructure,” but ultimately rely on “the promises and commitments of centralized companies.” He warned that some chains are being built by “centralized actors with an attempt to co-opt and take over the industry.” By contrast, he said, “Real crypto will never die and real crypto cannot be bought.”

The long-term threat surface, in his view, is not just monetary inflation but algorithmic control. Hoskinson said the next 25 years will merge physical and digital life into a single augmented layer in which AI mediates reality. “Every single thing in the physical world will have a digital twin,” he said. “When you’re walking around outside and you look at the pizzeria, your glasses will show you the ratings, the hours, the friends that have gone there.”

He asked: “How do you know that the things that you see in this augmented world are real, and are not adulterated?” His answer was blunt: “The only option is the technology of this industry… And if anybody tells you otherwise, they’re either ignorant or bot or both.” He positioned Cardano’s privacy work — “We’re tackling the privacy side now… We got Midnight coming out” — as part of that fight.

The speech also carried a warning about macro risk. Hoskinson said there is a “non-zero probability” that the United States enters a new depression, a “non-zero probability” of open conflict with China “before the close of this decade,” and even a “non-zero probability that we may no longer have a democracy in the next 10 years or 20 years.”

His claim is that when those systems fracture, crypto will be the toolkit used to rebuild money, voting, identity, and rule enforcement. “At some point, we’re going to have to pick up the pieces and we’re going to have to clean up the mess,” he said. “Do we just want to build it the exact same way… or do we want to build it differently?”

Hoskinson also addressed his own role, calling himself one of the few founders from crypto’s early days who is still active and not retired, not “picked off,” not checked out. He said he recently stepped back, spent time in Switzerland after Milan, and considered walking away to “just retire, go be a rancher.” He said he chose not to: “I’m happiest when I’m here with all of you… being in the revolution.”

He closed by insisting that Cardano is not finished, but is now structurally where it needs to be. “We’re fully decentralized,” he said. “We have a great government.” He praised other ecosystems by name — “Kudos to the Solana ecosystem… Kudos to the Avalanche ecosystem… Kudos to Bitcoin… Kudos to Vitalik and Ethereum” — and said that the industry is “so powerful, especially when it’s united. No one can stop us.”

Then he went back to Cardano. The message to holders was simple: ignore the drawdown. “These little slides in the market, they’re entirely forgettable,” Hoskinson said. “In three weeks, we won’t even think about it. The macro can get bad. Who cares? We’ll win in the end.”

At press time, ADA traded at $0.614.

Спекулятивная природа криптовалют приводит к тому, что цены определяют не конкретные факты, а ожиданиями инвесторов. Когда ожидания оказываются обманутыми или совпадают с реальностью, часто происходит коррекция. Так случилось и на этот раз.

A number of developments in the year 2025 could see the Dogecoin price resume its upward trajectory once again. Of these, there are four major developments that the community is looking forward to; some have already gotten a head start, and some are yet to materialize. Either way, they are all important to the DOGE advancement, as well as playing a role in pushing up interest in the price.

Dogecoin ETFs Top The List

The possibility of Dogecoin ETFs trading on the open market has been on the radar of investors for years now, but in 2025, this is becoming more of a reality than a dream. So far, three Dogecoin ETFs have already been filed, and one is already trading, according to data from The Block website.

Back in September, the REX-Osprey DOGE ETF Fund made headlines when it went live with the ticker DOJE. The fund has now been trading for over a month, with AUM crossing $31 million in October. Two others remain pending before the Securities and Exchange Commission (SEC), namely the Bitwise Dogecoin ETF and the Grayscale Dogecoin Trust conversion.

DogeOS To Expand Network Capability

Back in May 2025, the DogeOS team announced a $6.9 million raise to develop an application layer on the Dogecoin network. This funding round, led by Polychain Capital, was to fund the development of applications across various industries for consumer use, while also helping to strengthen the network security.

This application layer, which is being built by the MyDoge Wallet team, is expected to go live by the end of 2025. Its launch would take ODGE another step further away from being a meme coin with no utility.

Dogecoin Treasuries Are Gaining Momentum

With the success of Strategy’s Bitcoin treasury move, other companies have begun to open up treasuries for altcoins, and DOGE has not been left out. Bit Origin has become incredibly popular with its Dogecoin treasury, with around $16 million worth of the meme coin held by the company. Interestingly, the company is NASDAQ-listed, trading under the ticker BTOG. But it is not the biggest DOGE treasury company.

According to data from CoinGecko, CleanCore Solutions is actually the largest Dogecoin Treasury company. At the time of writing, the company holds a total of 710 million DOGE tokens, valued at around $137.7 million.

X Money Could Integrate DOGE

Since taking over X (formerly Twitter), billionaire Elon Musk has introduced a number of initiatives to the platform. One of these is X Money, a move to incorporate a payment service directly into the social media platform.

Given that Musk has been a vocal supporter of cryptocurrencies, expectations are that the launch of X Money will see the integration of crypto payments. Not only that, the billionaire has previously said Dogecoin is his favorite cryptocurrency, even introducing DOGE payments for merchandize on the Tesla website. Thus, if crypto payments were to debut on X Money, it is expected that DOGE could feature prominently.

Quick Facts:

• 1️⃣ Bitwise CIO Matt Hougan compares Solana to Bitcoin, saying both offers ‘two ways to win’, through overall market growth and increasing network dominance.
• 2️⃣ Solana’s fundamentals strengthen, with a $100B+ market cap, $150M+ in ETF inflows, and upcoming stablecoin integrations like Western Union’s 2026 launch.
• 3️⃣ One of the best meme coins, Maxi Doge ($MAXI) combines humor, staking rewards (up to 79% APY), and viral community culture; positioning itself as the breakout retail play of the next bull cycle.

Bitwise CIO Matt Hougan has injected a fresh dose of attention toward Solana, calling it a crypto investment that offers ‘two ways to win.’

In a recent investor note, Hougan drew a parallel between Solana and Bitcoin. With Bitcoin, his thesis is that investors are essentially betting on two things: a growing global “store-of-value” market, and Bitcoin’s growing market share within that space.

He argued that the thesis for Solana is similar, yet subtly different. With Solana, the bet is on the stablecoin payment and tokenized assets market growing bigger over time, and Solana becoming a more dominant force within that market.

Hougan isn’t the only person who’s extremely bullish on the future of the tokenized asset market. We’ve seen BlackRock’s Larry Fink and Robinhood’s Vlad Tenev express similar sentiments.

The fundamental signals for Solana are aligning, too. Solana now commands roughly 14% of the Layer-1 market by market capitalization. Meanwhile, the new Bitwise Solana ETF (BSOL) has already pulled in over $150M in net inflows since its launch.

Even legacy institutions like Western Union are getting on board, planning to launch a stablecoin on Solana by 2026.

Matt Hougan believes this combination of a booming market and rising share for Solana could be explosive for its long-term valuation. But for smaller investors, chasing large-cap growth isn’t always the best way to the greatest returns.

As Solana’s market cap crosses $100B, many traders are shifting toward early-stage meme coins with viral appeal and faster growth potential.

Leading that wave is Maxi Doge ($MAXI): a project blending humor, community, and DeFi mechanics in a way that feels a lot like the early days of Dogecoin and Shiba Inu.

Maxi Doge ($MAXI): The Meme Coin for the Next Market Cycle

Wjat makes Maxi Doge ($MAXI) one of the best meme coins today is that this is no mere meme. It’s a full-blown movement for traders who lift charts the way they lift weights.

Branded as a ‘240-pound canine juggernaut’ of the bull market, $MAXI channels the culture of conviction and hustle that defines the new generation of retail traders.

The project blends unabashed gym-bro humor with DeFi mechanics, creating a lifestyle token where holding equals flexing. It’s built around what the team calls the ‘Leverage King’ ethos: 1000x energy, caffeine-fueled confidence, and a refusal to skip leg day or a trade.

By holding $MAXI, traders align with this ‘lift, trade, repeat’ mentality, joining a community that thrives on meme power, shared strategies, and a relentless drive to succeed.

At its core, $MAXI turns memes into momentum through gamified competitions, holder-only leaderboards, and viral marketing that pushes its reach beyond traditional crypto circles.

As capital pours into Solana and other large caps, retail traders are once again chasing tokens with real personality and virality. And $MAXI’s brand of humor, strength, and alpha energy positions it perfectly to dominate the next wave of memecoins.

$MAXI Economics: Staking, Momentum, and Long-Term Potential

Maxi Doge ($MAXI) backs its meme appeal with real tokenomics designed to reward conviction. The project’s ongoing presale has already raised nearly $4M, with tokens priced at just $0.0002655: a fraction of their anticipated post-launch value.

As an added incentive, early adopters can stake their tokens for up to 79% APY. More than half of all presale tokens are already locked in, underscoring just how bullish investors are on $MAXI’s long-term growth.

$MAXI isn’t just about hype, though. Its ecosystem blends staking incentives, community governance, and social engagement rewards, ensuring holders stay active well beyond the presale phase.

Weekly trading leaderboards and community challenges create a flywheel of engagement, turning participation itself into gains.

As capital concentrates in institutional plays like Solana, $MAXI embodies the retail energy and grassroots excitement that in the past have sparked some of crypto’s biggest breakout runs.

Join the $MAXI presale today to ride the next wave of meme-fueled growth!

Crypto investments are inherently risky, and this is not financial advice. Please always do your own research.

Authored by Bogdan Patru, Bitcoinist — https://bitcoinist.com/bitwise-compares-solana-to-bitcoin-maxi-doge

Po raz kolejny światła reflektorów skierowane zostały na Michaela Saylora i jego firmę Strategy. Największy korporacyjny posiadacz Bitcoina dokonał w zaledwie 9 godzin serię transferów 22 704 BTC. Łącznie Strategy przeniosło 2.45 mld USD. Tokeny zostały przesłane z głównych portfeli spółki na szereg niższych adresów.

Spektakularna aktywność kryptowalutowego giganta wywołała falę spekulacji w branży. Niektórzy twierdzą, że może być to początek sprzedaży. Inni z kolei stawiają na reorganizację infrastruktury do przechowywania cyfrowych aktywów.

Wyniki finansowe poniżej oczekiwań

Cały proces został dokonany zaledwie kilka godzin po tym, jak Strategy ogłosiło zysk netto na poziomie 2.8 miliarda USD za trzeci kwartał. Taki wynik przewyższył nawet prognozy Wall Street, gdzie zysk na akcję wyniósł 8,42 USD zamiast zakładanych 8,15 USD.

Strategia firmy od lat zakłada akumulację Bitcoina. Zwiększyła swoje zasoby z 597 325 BTC do 640 808 BTC. Obecna wartość zasobów firmy Strategy wynosi więc ponad 70 miliardów dolarów.

Strategy tested 9 new addresses (other than change addresses).

My guess is that this related to a custody switch.

ScriptHash address types (starting with 3) are the same as Coinbase Prime Deposits but that is not the case here because the test funds were not swept. pic.twitter.com/bbsOQlliz1

— Emmett Gallic (@emmettgallic) October 31, 2025

Podczas konferencji wynikowej Michael Saylor podkreślił, że niezmiennym priorytetem pozostaje dalsze gromadzenie BTC:

Zamierzamy nadal koncentrować się na zakupie Bitcoina, a nie na poszukiwaniu transakcji, nawet jeśli mogłyby one zwiększyć wartość spółki.

Transfery Bitcoina pobudzają wyobraźnię traderów i ekspertów

Szybkie ruchy Strategy na dużą skalę zainteresowały analityków i społeczność kryptowalutową. Ekspert kryptowalutowy Emmett Gallic zasugerował, że może to być efekt zmiany systemu przechowywania aktywów, czyli tzw. custody switch. To bardzo powszechna praktyka wśród dużych posiadaczy. Restrukturyzacja zasobów zwiększa bezpieczeństwo.

Przesunięcie kryptowalut na ogromną skalę są takżę często związaną z aktualizacją zabezpieczeń lub zmianą partnerów powierniczych. Rzadko wiąże się to z faktyczną sprzedażą.

Ważnym elementem we wspomnianych praktykach jest zachowanie adresów docelowych. W momencie, kiedy pozostają one offline, oznacza to jedynie wewnętrzne porządki, a nie sprzedaż.

Saylor jest stanowczy w swoich przekonaniach i konsekwentnie pozostaje zwolennikiem Bitcoina. Podczas konferencji Money 20/20 w Las Vegas powiedział:

Myślę, że Bitcoin będzie dalej stopniowo zyskiwał na wartości. Nasze obecne oczekiwanie jest takie, że pod koniec roku osiągnie poziom około 150 000 dolarów.

Obecny rok z rekordowymi wynikami dla Strategy

Optymistyczne prognozy na 2025 rok zostały podtrzymane. Strategy zaraportowało 26-procentowy zwrot Bitcoina od początku roku, a także wzrost wartości BTC w portfelu o 13 miliardów dolarów.

Andrew Kang, dyrektor finansowy firmy, potwierdził:

Wygenerowaliśmy 26% zwrotu z BTC oraz zysk w wysokości 13 miliardów dolarów od początku roku. Potwierdzamy nasze roczne wytyczne dla dochodu operacyjnego na poziomie 34 miliardów dolarów, zysku netto 24 miliardów i rozwodnionego zysku na akcję w wysokości 80 dolarów, przy założeniu, że cena Bitcoina na koniec roku wyniesie 150 000 dolarów.

Sprzedaż BTC jest póki co wykluczona. Firma nie tylko nie planuje sprzedaży, ale intensyfikuje swoje zaangażowanie w inwestycję w największą kryptowalutę świata.

Co ruchy Strategy oznaczają dla rynku?

Ruchy rynkowe na ogromną skalę zawsze wywołują emocje wśród inwestorów i stają się polem do dyskusji w branży. Jedni traktują to jako znach potencjalnych zmian strategicznych, inni z kolei jako procedurę techniczną.

Choć są zwolennicy teorii, że migracja aktywów, może być początkiem likwidacji, to w przypadku Strategy trudno znaleźć podstawy, by to rozważać. Słuszniejszą interpretacją jest poprawa bezpieczeństwa aktywów.

Coraz więcej firm inwestujących w kryptowaluty dąży do większej kontroli nad własnymi portfelami i wdraża nowsze technologie multi-chain oraz non-custodial, które minimalizują ryzyko zewnętrznych ataków.

Bezpieczeństwo i integracja portfeli

W kontekście globalnych trendów w zarządzaniu kryptowalutami coraz częściej pojawia się pytanie, jaki jest najlepszy portfel kryptowalut. Użytkownicy liczą przede wszystkim na wygodę i bezpieczeństwo.

Odpowiedzią na potrzeby wielu inwestorów jest Best Wallet. Jest to zaawansowany, niepowierniczy portfel multi-chain, który umożliwia kupowanie, wymianę i przechowywanie setek aktywów cyfrowych.

Użytkownicy mogą korzystać z integracji z Onramper, co pozwala uzyskać najkorzystniejsze kursy i najniższe opłaty przy zakupie kryptowalut, w tym Bitcoina, Ethereum, Solany czy Polygon.

Aplikacja Best Wallet przeszła liczne jakościowe audyty. Jej architektura oparta na technologii Fireblocks MPC zapewnia najwyższy poziom bezpieczeństwa. Wspomniane rozwiązanie i szereg innych zalet sprawia, że w oczach ekspertów Best Wallet jest jednym z najlepszych portfeli Bitcoin na rynku.

Token $BEST i rozwój ekosystemu

Cały projekt wychodzi również poza samo przechowywanie cyfrowych aktywów. W ekosystemie znajduje się także dedykowany token $BEST, który obecnie jest dostępny w przedsprzedaży. Jego posiadacze mają obniżone opłaty transakcyjne, wyższe nagrody stakingowe oraz możliwość w głosowaniu nad kierunkiem rozwoju projektu.

Token ma także zapewniać wczesny dostęp do nowych projektów i przedsprzedaży, co czyni go ciekawą propozycją dla inwestorów szukających realnych benefitów w ramach ekosystemu Web3.

Choć przeniesienia Bitcoina przez Strategy i rozwój tokena $BEST dotyczą różnych segmentów rynku, oba te wydarzenia wskazują na wspólny trend, czyli rosnące znaczenie niezależności użytkownika i bezpieczeństwa przechowywania aktywów cyfrowych.

Strategia Saylora kontra nowa generacja użytkowników

Podczas gdy Strategy operuje miliardami dolarów w aktywach i przeprowadza wewnętrzne restrukturyzacje portfeli, nowa generacja inwestorów detalicznych również stawia na przejrzystość i kontrolę nad własnymi środkami.

Ze względu na chęć bezpiecznych i przejrzystych transakcji, aplikacje w stylu Best Wallet zyskują popularność. Łączą one pełną niezależność od podmiotów trzecich z możliwością łatwego kupna kryptowalut. Jeśli zastanawiasz się, jak kupić kryptowaluty, to Best Wallet z dużą dozą prawdopodobieństwa może przypaść ci do gustu.

Ethereum ha recentemente ceduto il livello chiave dei 4.000 USD, in un contesto di crescente incertezza macroeconomica e deflussi da alcuni fondi crypto. Tuttavia, nonostante la pressione sui prezzi, emergono segnali che le istituzioni continuino ad accumulare ETH, suggerendo che la calo potrebbe essere visto come una opportunità piuttosto che l’inizio di una crisi.

Pressione sul prezzo e contesto macro

Il prezzo di Ethereum è sceso in seguito a commenti restrittivi da parte della banca centrale statunitense, che hanno alimentato il sentiment di minimizzazione del rischio. Questa discesa ha coinciso con deflussi da prodotti ETF e portafogli di investitori tradizionali, indicativi di un momento di cautela nel mercato crypto. L’uscita dal livello di 4.000 USD segna una soglia psicologica significativa, e la sua rottura ha alimentato vendite, liquidazioni e ripensamenti da parte di molti operatori.

Accumulo istituzionale nonostante il calo

Paradossalmente, mentre il prezzo fletteva, l’accumulo da parte di grandi soggetti non è diminuito. Alcuni report mostrano che le istituzioni detengono ora una quota crescente della supply totale di ETH, superando addirittura quella di Bitcoin in certi intervalli. Questo comporta che, anche se il prezzo è sotto pressione, il posizionamento strategico di lungo termine degli operatori più grandi è ancora positivo e potrebbe fornire un supporto strutturale alla moneta.

Livelli tecnici e scenari a breve termine

Dal punto di vista tecnico, Ethereum si trova in una zona delicata. Il supporto tra circa 3.950 e 4.000 USD è considerato cruciale: mantenerlo può rappresentare una base per la ripresa, mentre perderlo potrebbe aprire la strada a un ritracciamento verso 3.700 – 3.600 USD. D’altra parte, per riaccendere il trend rialzista servirebbe una chiusura stabile sopra circa 4.200 USD, che potrebbe spingere verso zone 4.400-4.500 USD. Il mercato attualmente appare in attesa di un catalizzatore: una rottura nel breve termine definirebbe la direzione.

Conclusione

Ethereum si trova in un momento cruciale: da un lato ha mostrato debolezza cedendo il livello dei 4.000 USD, dall’altro mostra un supporto strutturale dato dall’accumulo istituzionale e dai fondamentali che restano solidi. Il prossimo passo sarà capire se saprà trasformare questo momento di consolidamento in uno slancio rialzista oppure se la pressione negativa prevarrà. Chi segue ETH deve osservare con attenzione i livelli chiave e l’azione del mercato, ricordando che anche un asset forte come Ethereum resta esposto a rischi reali.

Fattori chiave da monitorare

Tra i fattori che possono influenzare il prossimo movimento di ETH troviamo:

• Il comportamento delle istituzioni: se continuano ad accumulare, ciò rafforza la narrativa di lungo termine.

• L’evoluzione macroeconomica: tassi di interesse, regolamentazione e flussi di capitale verso crypto restano determinanti.

• I dati on-chain: ad esempio, le grandi moving-in di ETH verso wallet di custodia privata o fuori dagli exchange indicano minore pressione di vendita.

• L’azione tecnica: volumi, breakout o breakdown dai livelli chiave faranno da motore per il prossimo movimento.

 

Майнинговая компания Riot Platforms сообщила, что средняя себестоимость добычи 1 BTC в июле — октябре составила $46 324. Riot Platforms является один из крупнейших американских держателей биткоинов среди компаний-майнеров.

Strategy Chairman Michael Saylor told investors that his company is not looking to buy peer Bitcoin treasury firms, saying such deals often take too long and carry too much uncertainty.

Strategy’s Focus Remains On Buying Bitcoin

According to Strategy’s third-quarter earnings call, Saylor said the company has “no plans to pursue M&A” even when a deal might look accretive at first.

He warned that deals can stretch out “six to nine months or a year,” and that an idea that looks good at the start may not be attractive months later.

Strategy’s stated plan is straightforward: sell digital credit, shore up the balance sheet, buy Bitcoin and keep investors informed.

That clarity, Saylor argued, makes the company’s results easier for analysts to check and for the market to judge.

M&A Activity Picks Up Elsewhere

Reports have disclosed that Strive moved ahead with a deal in late September, agreeing to buy rival Semler Scientific in an all-stock transaction that left the combined firm with 11,006 BTC.

That haul would put Strive among the larger public holders — roughly the 12th-largest — trailing big names such as Tesla. By contrast, Strategy’s holdings remain huge: 640,808 BTC, the largest stash reported by any public firm.

The numbers underline why Strategy feels little pressure to rush into consolidation when its primary aim is accumulation.

Phong Le, Strategy’s CEO, warned that buying other firms often hides surprises. He said software M&A is “very difficult,” and added that the same caution applies to purchases of Bitcoin treasury businesses.

Those comments were made alongside Saylor’s more guarded line that the company would not say “never” to acquisitions, but that the current focus is clear and narrow.

How The Market Is Looking At Strategy

S&P Global Ratings last week gave Strategy a B- grade – or “junk” rating – placing the firm in a speculative, non-investment-grade slot.

According to the rating agency’s view, much of the company’s Bitcoin hoard was not counted toward its equity, and that had an effect on the final score.

Le suggested that credit metrics could change if Bitcoin is ever treated differently on corporate balance sheets — for example, if it were recognized as a capital asset — which would likely affect how ratings are assessed.

The credit rating does not change what Saylor says drives the business. He pointed out that each Bitcoin purchase can be measured and shown to investors, which makes the firm’s model predictable and transparent.

That predictability is used by company leadership to argue that accumulation beats acquiring rivals right now.

Featured image from Unsplash, chart from TradingView