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Bitcoin dipped below its starting price for 2025 after a weekend downturn, falling to 93,029 before recovering slightly. The drop reflects lingering market uncertainty despite earlier optimism tied to the pro-crypto policies of the Trump administration, increased regulatory clarity and rising corporate adoption of Bitcoin and spot Bitcoin ETFs. Tariff conflicts and a record 43-day government shutdown contributed to repeated price pullbacks, adding pressure to an already fragile market environment.
Analysts also point to selling activity from long-term holders as a factor limiting upside momentum, though such distribution is seen as typical late-cycle behaviour rather than a major exit by whales. Bitcoin’s decline mirrors broader weakness across the crypto market, with Ether and Solana also down since the start of the year. Some analysts question whether the traditional four-year cycle still applies, while others argue that strong fundamentals across areas such as stablecoins, tokenization and decentralized finance position the market for a stronger 2026. Source
Glassnode reports that Ethereum holders move and spend their coins far more than Bitcoin holders, reflecting the different purposes of the two networks. Bitcoin continues to function as a digital savings asset, with low turnover and a growing share of its supply locked into long-term holdings rather than sitting on exchanges. Ethereum, by contrast, acts as the fuel that powers smart contracts, decentralized applications and broader crypto activity, leading to more frequent movement of ETH as users pay gas fees and engage with staking and collateral systems.
The report notes that long-term Ethereum holders mobilize older coins at a rate three times faster than long-term Bitcoin holders, underscoring ETH’s more utility-driven behaviour even as ETFs introduce new investor dynamics. Despite some store-of-value characteristics, including widespread staking, ETH remains less dormant than BTC. Both assets have recently faced price pressure, with Ethereum trading near 3,208 and Bitcoin around 95,992, each well below their respective all-time highs. Source
Biomedical and scientific companies are increasingly using blockchain and crypto treasury models to fund early-stage research, offering alternatives to traditional systems that often slow progress. Portage Biotech has shifted into a Toncoin-based treasury business, generating revenue through staking and investments in the Telegram ecosystem, with a portion directed toward cancer research. The company is also studying real-world asset tokenization to decentralize research funding, exploring tokenized intellectual property, equity and future profits as ways to remove barriers embedded in legacy funding structures.
Other decentralized science initiatives are emerging as well. Ideosphere aims to fund scientific research through prediction markets, allowing researchers to post hypotheses while traders speculate, creating a flow of capital toward promising ideas. Meanwhile, Bio Protocol secured 6.9 million in funding to develop an AI-native research platform that integrates blockchain and community participation for drug discovery. These developments signal a shift toward more open, market-driven research ecosystems that could accelerate scientific breakthroughs. Source
Michael Saylor denied speculation that Strategy has been selling Bitcoin, reaffirming that the company’s accumulation strategy is not only intact but accelerating. He said Strategy continues to add to its 62.3 billion stockpile despite Bitcoin’s drop below 100,000, and that on-chain movements flagged by analysts likely relate to custodial changes rather than sales. Though prediction markets briefly raised the odds of a sale, analysts noted that Strategy would only be forced to sell under highly unlikely debt-related conditions, with no bond maturities until 2028.
Saylor emphasized that Strategy’s balance sheet remains strong, asserting that even an 80% Bitcoin price decline would leave the firm overcollateralized. The company continues to fund its purchases through a mix of common stock, preferred shares and convertible bonds, though recent market volatility has pushed its market cap below the value of its Bitcoin holdings. Despite the slump in both Strategy’s stock and Bitcoin’s price, Saylor expressed confidence that recent market weakness provides a foundation for future recovery, reiterating that the company is always buying. Source
Bitwise CEO Hunter Horsley argued that crypto’s long-term fundamentals remain strong despite recent market turmoil, with asset prices falling and investor sentiment hitting a six-month low. He said the traditional four-year cycle no longer applies, replaced by a more mature market structure shaped by Bitcoin ETFs and the pro-crypto shift in US regulation. Horsley believes the market has likely been in a bear phase for nearly half a year and is now nearing its end, asserting that the overall setup for crypto has never been more favourable.
His comments contrast sharply with widespread fear reflected in the Crypto Fear and Greed Index, which sits at 16, signalling extreme fear. Bitcoin recently fell to a six-month low near 94,590, and some analysts warn it could drop further toward 86,000. Others attribute the downturn to low liquidity, noting that future price recovery may depend on monetary expansion and interest rate cuts. While the Federal Reserve has begun lowering rates, fewer than half of traders expect another cut in December, according to CME data. Source
BitMine Immersion Technologies, the largest corporate holder of Ethereum with more than 11 billion worth of the asset, has appointed Chi Tsang as its new CEO and board member. Tsang brings experience from venture fund m1720 and a decade at HSBC, and he views Ethereum and blockchain as transformative forces comparable to the internet and mobile boom of the 1990s. BitMine also added three new board members as it aims to strengthen its role bridging traditional finance and the expanding Ethereum ecosystem.
The company’s stock has been sliding alongside Ethereum’s market decline, falling nearly 34% over the past month as the value of its ETH treasury has dropped sharply. BitMine currently holds more than 3.5 million ETH, far surpassing other corporate holders, while Ethereum itself trades near 3,200 after a steep pullback from its August all-time high. Despite the downturn, prediction market participants remain slightly optimistic about ETH’s next major move, with odds favouring a rise toward 4,000. Source
WisdomTree’s Will Peck said that diversified crypto index ETFs are likely to become a major avenue for adoption, offering exposure to multiple digital assets without forcing investors to assess the risks of individual tokens. He argued that while newcomers understand Bitcoin, they often struggle with the broader market, and a multi-asset basket can reduce idiosyncratic risk. Several index ETFs have launched this year, including new products from 21Shares and an expanded index from Hashdex, reflecting growing competition among issuers.
Peck noted that broader adoption may be difficult to time but sees it as increasingly inevitable given the utility of these products. He also said the growing number of ETFs will weaken the notion that ETF approval confers credibility on a token. Peck praised the performance of spot Bitcoin ETFs since their 2024 debut, which have accumulated nearly 58.83 billion in net inflows, calling crypto one of the most competitive segments of the ETF market. Source
Markethive introduces Hivepress and the Franchive system as a new model for digital publishing, enabling individuals to create, operate, and monetize independent news sites with minimal barriers. Hivepress provides a comprehensive press release and content distribution platform equipped with wide-reaching syndication, automated workflows, and advanced analytics that help users understand audience engagement and optimize their communication strategies. Franchives extend this capability by giving each owner a customizable digital news hub with its own domain, automated content publishing, and access to extensive site-building tools, allowing them to establish a unique presence in virtually any niche or market.
Markethive’s ecosystem also incorporates a revenue-sharing model for press releases and sponsored articles, along with full advertising monetization that lets Franchive owners keep all profits from banner and video ads. The system supports multiple payment methods, including Bitcoin, credit cards, PayPal, and Hivecoin, the latter offering incentives for adoption. A low entry fee helps fund SEO services and ongoing syndicated content, giving each Franchive a strong foundation for visibility and growth. As participation scales, the system has the potential to create a vast network of independent publishers, transforming how digital content is produced, distributed, and monetized. Source
The FDIC is moving toward establishing clear rules for how US banks can integrate stablecoins and tokenized deposits into their operations, with acting Chairman Travis Hill stating that initial guidance is expected by the end of 2025. Hill emphasized that the key priority is creating a formal application process required under recent legislation, while ensuring that deposits maintain their status regardless of the technology used to record them. He also highlighted the need for consistent oversight of banks involved in crypto and blockchain services and stressed the importance of safeguards that would allow regulators to halt on-chain fund movements if a bank suddenly fails.
Regulators have continued to roll back previous restrictions on crypto-related activities throughout 2025, reaffirming that banks may engage in stablecoin services, custody, and blockchain verification without seeking prior approval, provided they follow standard risk management practices. The FDIC’s updated direction reflects a broader shift toward integrating digital assets into traditional banking while ensuring operational resilience and consumer protection. Source
Crypto executives and analysts attribute Bitcoin’s drop to around $93,000 and the broader market pullback to a combination of long-term holder selling, shifts in ETF flows and a risk-off global environment. Outflows from spot Bitcoin ETFs, profit-taking by whales and weaker macro sentiment are contributing to softer demand just as older coins reenter circulation. Executives also point to rising geopolitical tensions, stretched tech valuations and uncertainty about global markets, which together have created conditions ripe for a broader cooldown after a strong year of optimism.
Despite the downturn, analysts stress that the market’s fundamentals remain solid and that such corrections are routine in crypto cycles. Retail investors continue rotating into major assets rather than exiting, institutional participation remains high and underlying metrics like stablecoin activity, onchain usage and developer engagement are strengthening. Many believe the current pullback reflects a maturing market where selling pressure is absorbed more effectively than in past cycles, setting the stage for eventual recovery as new participants replace long-term holders. Source
Harvard University and Emory University both increased their Bitcoin exposure in the third quarter through investments in Bitcoin ETFs. Harvard’s endowment reported holding 6.8 million shares of BlackRock’s iShares Bitcoin Trust, valued at approximately $443 million, up from 1.9 million shares in the previous quarter. Emory also boosted its Bitcoin holdings via ETFs, reporting 1 million shares in the Grayscale Bitcoin Mini Trust worth $52 million and a smaller position in iShares Bitcoin Trust. These moves indicate growing institutional interest in regulated Bitcoin investment vehicles despite recent market volatility.
The expansions come amid significant short-term outflows from spot Bitcoin ETFs, which saw nearly $1.33 billion exit over two days. Despite this volatility and Bitcoin’s price dipping below $95,000, both universities appear to be taking a long-term investment approach. Their increased allocations highlight a broader trend of educational endowments viewing Bitcoin ETFs as a viable and regulated means of gaining cryptocurrency exposure, even as market fluctuations continue. Source
The debate between Bitcoin and Zcash communities has escalated as Zcash’s price surged back above $700 following a recent low of $598. The rally, which began in October and propelled Zcash past eight-year highs, has reignited discussions around privacy coins and their role in the crypto market. Industry figures, including CEOs and investors, have weighed in, with some criticizing the rally as a coordinated pump while others defend Zcash as a legitimate privacy-focused asset. The debate also touches on issues of centralization, market manipulation, and the broader implications for crypto adoption.
Zcash’s growing market capitalization, now over $11 billion, has made it the leading privacy coin, surpassing Monero and challenging other top cryptocurrencies like Cardano. High-profile investors, including the Winklevoss-backed Cypherpunk Technologies and Arthur Hayes’ Maelstrom fund, have increased their Zcash holdings, signaling institutional interest. The rally has also sparked renewed discussions about enhancing privacy features in Bitcoin itself, highlighting how the surge in Zcash is influencing wider conversations about privacy, technological innovation, and investment strategies in the crypto sector. Source
SEC Chairman Paul Atkins announced “Project Crypto,” a framework to clarify how digital assets are classified under existing securities laws, emphasizing that most tokens are not securities once their initial investment contracts have matured. Atkins explained that tokens originally sold in investment contracts may cease to be securities as networks develop, code is deployed, and issuer control diminishes. The plan proposes a taxonomy separating digital assets into categories such as digital commodities, collectibles, and tools, which would not be considered securities, while tokenized stocks and bonds would remain regulated as securities.
The initiative also includes drafting exemptions allowing investment-contract tokens to trade on CFTC- or state-regulated platforms, ensuring innovation is supported under clear rules while maintaining strong anti-fraud enforcement. Atkins stressed that fraud and misrepresentation remain prosecutable, but the regulatory approach will now reflect the economic reality that tokens can operate independently of their original issuers. Project Crypto aims to provide legal clarity, reduce regulatory uncertainty, and create a structured framework for the continued growth and legitimacy of the digital asset market. Source
The Independent Community Bankers of America (ICBA) has urged the Office of the Comptroller of the Currency to block Sony Bank’s application for a national trust charter that would allow it to issue stablecoins. The group warned that Sony’s proposed subsidiary, Connectia Trust, could bypass traditional banking regulations, avoid federal deposit insurance, and expose consumers to risk in the event of insolvency. The ICBA also raised concerns over whether Connectia’s activities, including issuing debit cards and maintaining a controlling stake by Sony Group Corporation, would violate existing banking laws and oversight requirements.
The opposition mirrors similar objections against other crypto firms, including Coinbase, Circle, and Ripple, which are pursuing federal charters to operate stablecoin services. Critics argue that the ICBA’s stance reflects protectionism by established banks rather than genuine consumer protection, as stablecoins offer decentralized financial solutions and greater transparency. Supporters emphasize that regulated stablecoin operations can expand financial inclusion, serve unbanked populations, and reduce traditional bank-run risks, highlighting the ongoing tension between innovation in digital finance and traditional banking oversight. Source
Venture capital firm a16z highlighted the importance of arcade tokens, a type of ecosystem-locked digital asset that functions similarly to airline miles, credit card points, or in-game currencies. Unlike speculative tokens, arcade tokens maintain a stable value within a specific software or product ecosystem, allowing users to perform defined functions rather than holding them for investment purposes. a16z argues that these tokens can serve as a foundational element in developing stable, spendable digital economies, providing utility, ease of accounting, and simplified tokenomics for issuers while fostering user engagement and ecosystem growth.
The report cites examples like Blackbird’s FLY token, used within a Web3 restaurant payments platform, demonstrating how arcade tokens can drive adoption and network effects. Unlike stablecoins, arcade tokens offer flexibility to support ecosystem incentives, grants, and subsidies while encouraging users to remain within the digital economy. However, a16z notes that not every project requires arcade tokens, as they are less relevant in speculative markets or for networks that already have an established token and ecosystem, emphasizing that their value lies in enabling practical, spend-centric digital economies rather than serving as investment instruments. Source
BlackRock’s $2.5 billion USD Institutional Digital Liquidity Fund (BUIDL) is expanding to Binance and the BNB Chain, allowing the tokenized money market fund to be used as collateral for trades on the world’s largest cryptocurrency exchange. Originally launched in March, BUIDL is backed by U.S. Treasuries and offers institutional traders yield while maintaining a stable value. The fund has now been integrated across eight blockchains and included in Binance’s custody service, Ceffu, reflecting growing demand from institutional clients for interest-bearing, low-volatility digital assets.
The expansion coincides with Securitize’s plan to go public through a SPAC transaction, valuing the BlackRock-backed tokenization firm at $1.25 billion and enabling its stock to trade digitally on a blockchain. BlackRock’s move demonstrates increased Wall Street engagement with crypto exchanges and blockchain-based financial products, signaling a broader trend of institutional adoption. The launch comes amid market volatility, with BNB recently falling from its recent highs alongside Bitcoin, highlighting the demand for stable, yield-generating instruments like BUIDL in crypto portfolios. Source
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
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