Illiquid Bitcoin supply has declined with approximately 62,000 BTC moving out of long-term dormant wallets since mid-October, according to Glassnode. When illiquid supply decreases, more tokens enter circulation, and without strong new demand, upward price momentum faces greater resistance. Whale wallets have continued accumulating over the past 30 days with no major sell-offs since October 15, while the largest sustained outflows have come from wallets holding 0.1-10 BTC (equivalent to $10K-$1M in assets), which have maintained net selling since November 2024. Momentum traders have largely exited, and dip-buying capital has not generated sufficient demand to absorb selling pressure, creating a supply-demand imbalance that will continue to suppress prices until stronger spot demand emerges.

A whale address deposited 19,929 ETH, valued at $78.29 million, to Binance on Oct. 25 after holding the assets for two months, Onchain Lens data show. The address had initially withdrawn 22,177 ETH worth $101.95 million from Binance and Bybit. The entire position was deposited back at a current value of $86.5 million, resulting in an unrealized loss of $15.4 million.

U.S. Bitcoin spot ETFs attracted $90.605 million in net inflows on Oct. 24, SoSoValue data show. Fidelity's FBTC led with $57.924 million in single-day inflows, bringing its cumulative total to $12.597 billion, while BlackRock's IBIT added $32.681 million, reaching $65.306 billion in historical net inflows. All twelve Bitcoin spot ETFs recorded positive flows with no outflows reported. Total net assets of Bitcoin spot ETFs stood at $149.962 billion as of publication, representing 6.78% of Bitcoin's total market capitalization, with cumulative historical net inflows of $61.985 billion.

Ethereum spot ETFs recorded a net outflow of $93.60 million on Oct. 24, the third consecutive day of withdrawals, SoSoValue data show. Grayscale Ethereum Mini Trust ETF ETH led inflows with $7.40 million, bringing its cumulative net inflow to $1.48 billion, while BlackRock's ETHA posted the largest single-day outflow of $101 million despite a historical total net inflow of $14.15 billion. As of press time, total net assets of Ethereum spot ETFs stood at $26.39 billion, representing 5.55% of Ethereum's market capitalization, with cumulative historical net inflows of $14.35 billion.

PING dropped approximately 33% within 25 minutes on Oct. 25, trading at $0.053, GMGN market data show. The decline followed Binance's announcement of GIGGLE's listing at 11:00 the same day, with GIGGLE surging 150%. PING retained a 24-hour gain of 222%.

GIGGLE surged 150% to $204 on Oct. 25, marking a new all-time high after Binance announced spot trading for the token, GMGN market data show. The token's market capitalization reached $204 million with 24-hour trading volume of $3,120.

F token climbed 70% on Oct. 25, reaching a peak of $0.0488 before settling at $0.0351, GMGN market data show. The surge followed Binance's announcement of spot listing for the token. F token's market capitalization stood at $83.22 million, with 24-hour trading volume reaching $4.93 million.

GIGGLE surged 130% on Oct. 25, trading at $188 with a market capitalization of $188 million, GMGN market data show. The rally followed Binance's announcement of the token's spot listing. Trading volume reached $2,120 over 24 hours.

A wallet address linked to insider trading activity deposited 100 BTC to Kraken on Oct. 25, Onchain Lens data show. The address, identified as the '1011 insider whale,' holds 1,601 BTC worth approximately $177 million.