A trader managing a $10 billion portfolio has opened $37 million in Bitcoin longs and $18 million in Ethereum longs on Hyperliquid as both assets declined. The whale previously grew an initial $850 million investment to $10 billion. The trader correctly predicted three major market moves in 2025, including October's downturn that generated $200 million in profits.

Small Bitcoin holders have sharply reduced exchange activity, with daily deposits from wallets holding less than 0.1 BTC falling from approximately 552 BTC in early 2023 to 92 BTC currently, according to CryptoQuant data. The shift follows the January 2024 launch of spot Bitcoin ETFs, which provided regulated exposure channels that reduced direct exchange interaction. ETF flows and corporate treasury purchases have become the primary drivers of network demand, replacing traditional retail trading activity.

Bitcoin closed October 2025 down nearly 4%, marking its weakest October performance since 2014. Analyst TradingShot identifies a fractal pattern suggesting a potential 32% correction toward $87,000, citing rejections at key technical levels and similarities to early 2025 price action.

Strategy purchased 397 BTC between October 27 and November 2 for $45.6 million at an average price of $114,771 per coin, according to a company filing dated November 3. The acquisition brings the software-intelligence firm's total Bitcoin holdings to 641,205 BTC, representing a combined investment of $47.49 billion at an average cost of $74,057 per BTC. The company, chaired by Michael Saylor, financed the purchase through proceeds from at-the-market equity programs, raising approximately $69.5 million during the period.

Bitcoin and Ethereum spot ETFs recorded combined net outflows of nearly $290 million for the third consecutive session, with Bitcoin trading around $107,900—down 2.5% in 24 hours. BlackRock's IBIT led Bitcoin redemptions at $149 million, while Ethereum products saw $98.2 million in withdrawals. The sustained outflows signal caution among institutional investors as markets await clearer directional cues.

Bitcoin miners deposited 210,000 BTC to exchanges throughout October, with Binance receiving 108,000 coins from October 16 onward, according to CryptoQuant data. The transfers occurred as Bitcoin declined from above $126,000 to around $107,000. Miner reserves fell to 1.89 million BTC from over 2 million coins held the previous year.

Bitcoin dropped below $108,000 in early Asian trading, pressured by receding hopes for aggressive Federal Reserve rate cuts and a firmer US dollar. The decline reversed October's gains, with traders attributing the move to policy uncertainty and reduced holiday liquidity. Ether and XRP also fell, pulling total crypto market capitalization down 3.1% to $3.69 trillion.

Bitcoin faces exposure of approximately 6.5 million BTC to quantum computing attacks, according to a Human Rights Foundation report. The analysis identifies nearly one-third of all Bitcoin held in address formats vulnerable to quantum decryption of exposed public keys. The network confronts complex technical upgrades and governance debates over protecting at-risk coins while preserving decentralization principles.