Bitwise analyst André Dragosch has questioned the Bitcoin Stock-to-Flow model's $222,000 cycle peak forecast, stating it overlooks institutional demand from ETFs and corporate treasuries. Institutional holdings now represent approximately seven times the annual supply reduction from the recent halving. The model's reliance on scarcity metrics may no longer capture price dynamics in a market dominated by institutional capital flows rather than retail activity.

Ethereum Layer 2 protocol MegaETH completed its MEGA token public sale on Monday, reaching the $49.95 million cap within minutes of launch. The offering attracted demand exceeding $150 million, representing more than three times the available allocation at a fully diluted valuation of $999 million. Participation was limited to accredited investors, with a one-year lock-up option available at a 10% discount.

Bitcoin traded at $115,185, gaining 1.40% over 24 hours as markets responded to reports of a US-China trade framework agreement. The cryptocurrency's market capitalization stands at approximately $2.29 trillion with daily trading volume exceeding $56.6 billion. Washington and Beijing reached the framework during weekend negotiations in Kuala Lumpur, with the agreement expected to be finalized at Thursday's APEC Summit in South Korea.

Canada plans to present stablecoin regulatory framework details in its federal budget on November 4. Officials from the Department of Finance Canada have held intensive consultations with industry participants and regulators in recent weeks. The discussions have centered on classification issues and preventing capital outflows to U.S. dollar-backed digital assets.

Western Union has begun testing stablecoin-based treasury solutions to shorten settlement cycles and reduce transaction costs. CEO Devin McGranahan announced the pilots during a Q3 2025 earnings call, crediting regulatory clarity from the GENIUS Act as a driver for digital asset adoption.

Evernorth Holdings has accumulated more than $1 billion in XRP tokens, establishing itself as one of the largest institutional holders in the ecosystem. The digital asset treasury firm received approximately 338 million XRP from Ripple Labs and an additional 50 million from early investor Chris Larsen. Evernorth plans to list on Nasdaq via SPAC merger under the ticker XRPN by Q1 2026.

Strategy purchased 390 BTC between October 20 and October 26 for $43.4 million at an average price of $111,117 per Bitcoin, according to a filing released October 27. The acquisition brings the business intelligence firm's total holdings to 640,808 BTC, purchased for $47.44 billion at an average cost of $74,032 per coin. The purchase was funded through proceeds from the company's At-The-Market equity programs, which raised $43.4 million during the same period.

Bitcoin rose 3.6% Monday, surpassing $115,000 as US-China trade tensions showed signs of easing. The broader crypto market capitalization climbed 3.7% to $3.9 trillion, while Ether gained 7% to $4,200. Altcoins including VIRTUAL, HYPE, and ZCASH posted substantial advances as investors positioned ahead of central bank policy decisions.