Matt Hougan, chief investment officer at Bitwise, has compared gold's 57% surge in 2025 to bitcoin's current consolidation phase. He suggests bitcoin may follow a similar breakout pattern once its remaining seller base is depleted, mirroring gold's trajectory after sustained central bank purchases exhausted price-sensitive sellers. Since January 2024, institutional channels and corporations have acquired roughly 1.39 million BTC through spot ETFs and direct purchases, creating a supply-demand imbalance that Hougan believes could drive a breakout.

BlackRock acquired 1,884 BTC on October 21 in a transaction worth approximately $200 million. The purchase brought the fund's total Bitcoin holdings to 803,200 BTC, valued at roughly $86.5 billion, data show. The acquisition occurred as Bitcoin declined nearly 3% to an intraday low of $107,552, erasing weekend gains.

Ethereum traded near $3,800 on October 22, down nearly 18% from above $4,700 in early October. Technical indicators showed 19 of 30 signals in sell territory, with the Fear & Greed Index at 25 (Extreme Fear). The RSI at 41.62 suggested the selloff may be nearing exhaustion.

Hong Kong's Securities and Futures Commission has approved the region's first Solana spot ETF, to be issued by ChinaAMC. The product will begin trading on October 27 under ticker 3460, making Solana the third digital asset after Bitcoin and Ethereum to receive ETF approval in Asia. The fund will charge a 0.99% annual management fee and will be denominated in Hong Kong dollars, Chinese yuan, and U.S. dollars.

A major Bitcoin holder has initiated a $235 million short position with 10x leverage at $111,190, following reported profits of $200 million from BTC's recent drop to $100,000. The position faces liquidation risk if Bitcoin rises above $112,368. Separately, another large trader known as the "Trump insider" has expanded his short to 2,100 BTC worth approximately $227 million.

Addresses holding 100-1,000 BTC have increased their holdings in recent periods, replicating accumulation patterns seen before the 2017 and 2021 bull markets, according to Alphractal. Liquidation data shows the highest concentration of open liquidations has shifted to short positions, while Bitcoin traded near $108,292 with technical indicators signaling oversold conditions. The trend reflects long-term conviction among mid-tier holders contrasted with short-term uncertainty driven by derivatives positioning.

Evernorth announced a SPAC merger exceeding $1 billion in October, positioning the entity as the largest publicly traded XRP treasury globally. The firm is targeting a Nasdaq debut under ticker XRPN in early 2026. Ripple's $1 billion acquisition of GTreasury aims to integrate Fortune 500 treasury infrastructure with the XRP Ledger for corporate cross-border settlements.

Jupiter, a Solana-based decentralized exchange and aggregator, launched native prediction markets in open beta powered by Kalshi data on October 22, 2025. The platform debuted with a trading pair for the F1 Mexico Grand Prix winner, featuring drivers including Max Verstappen, Lando Norris, Oscar Piastri, and George Russell. The integration marks Jupiter's expansion beyond core DEX services into on-chain prediction trading.