Since US spot Bitcoin ETFs debuted in January 2024, on-chain activity has cooled even as institutional allocations rose, according to financial analyst Jacob King. Market watcher Crypto Seth says net inflows into BlackRock and Fidelity's BTC ETFs have been muted since October 10, 2025, despite US equities trading near record levels and a shift in Federal Reserve policy. At the same time, Mintlayer and RioSwap are introducing infrastructure meant to route BTC directly into decentralized markets without wrapping, with the goal of preserving user control.

Ethereum is trading in a narrow band between key support and resistance, with analysts flagging the $3,000 area as a critical base for the current structure. One analyst highlights fresh ETH long positions from large whales and says a clean break above $3,300–$3,400 could fuel a push toward $3,700–$3,800, while failure there could send the price back to retest $3,000. Another analysis notes that Ethereum is reacting from a major weekly support zone and argues that both a bullish continuation and the formation of an additional low remain plausible paths.

Bitcoin is trading above $93,160 as two bullish chart formations converge to signal potential upside momentum. Analyst Kamile Uray notes a confirmed breakout from a Cup & Handle pattern targets $104,000 on the 4-hour chart. Crypto VIP Signal reports Bitcoin's move past $90,000 validates an Inverse Head and Shoulders reversal pattern, with $95,000 marking the next technical level.

Bitcoin has broken down from a rising wedge pattern and entered a key support zone, marking a 33% decline from its all-time high. The magnitude of the drawdown has historically preceded extended periods of weakness and heightened volatility in prior market cycles. Momentum indicators show no clear signs of bullish pressure returning, while trading volume remains subdued.

Bitcoin faced resistance between $99,386 and $100,972 before pulling back to a key support zone spanning $93,000 to $97,000. The retreat formed another lower low, reinforcing near-term bearish pressure, according to analyst More Crypto Online. Bulls must defend this range to prevent further downside toward $91,322–$82,523.

Bitcoin's Market Value to Realized Value (MVRV) ratio has declined to the 1.8–2.0 range, a valuation zone that has historically coincided with major market bottoms. The metric, which compares Bitcoin's market capitalization to its aggregate cost basis, reached similar levels during market lows in June 2021, November 2022, and April 2025, according to market analysts.

UBS completed its first live tokenized fund transaction on the Ethereum network, marking a milestone in institutional blockchain adoption. The transaction involved the UBS USD Money Market Investment Fund Token (uMINT) and utilized Chainlink's Digital Transfer Agent technology for on-chain redemption, according to a social media post.