Executive Summary

Bitcoin held steady around $110,000 after a volatile October, marking a near-flat weekly close with monthly decline of about 3%. Ethereum saw significant ETF outflows totaling $93.6 million on October 24, with BlackRock's ETHA leading withdrawals at $101 million while ETH experienced a modest inflow of $7.4 million, reflecting mixed institutional sentiment. The market displayed defensive rotation with privacy coins and exchange tokens gaining relative strength. DeFi protocols showcased resilience highlighted by AAVE's 10% price increase driven by real-world asset integrations and strategic Uniswap governance initiatives. Regulatory efforts progressed globally with FSB highlighting gaps in crypto framework implementation, active EU stablecoin consortium formation, and Switzerland launching regulatory consultations potentially shaping the stablecoin space.

Disclaimer: This report is informational only, not financial advice. Cryptocurrency investments carry risk. Conduct independent research.

Most Important News & Narratives

Bitcoin Price Range

- Maintained near $110,000 support level with minimal weekly change (~0%) between October 24 ($110,048.54) and October 30 ($110,046.7).
- Monthly change reflected a modest 3% decline for October.
- Resistance remains at $115,000, representing a critical zone for bullish momentum.

Ethereum ETF Flows

- Notable net outflow of $93.6 million on October 24.
- BlackRock ETHA recorded a $101 million single-day withdrawal.
- ETH spot ETF saw a $7.4 million inflow, partially offsetting outflows.
- Illustrates ongoing cautious but fluctuating institutional positioning in Ethereum.

Market Sentiment and Sector Rotation

- Market exhibited mixed sentiment amid regulatory and geopolitical uncertainty.
- Defensive capital rotation favored privacy coins and exchange tokens amid broad market consolidation.

DeFi Activity

- AAVE surged 10% propelled by deeper integration of real-world asset liquidity.
- Uniswap secured a $3.3 million governance grant to develop Collateralized Debt Position (CDP) functionality for Uniswap V4 liquidity provider tokens.
- Bunni DEX suffered an $8.4 million exploit, leading to its shutdown, highlighting persistent security challenges.
- Solana ecosystem remained robust with SOL steady at $202.82, maintaining 81% dominance in global decentralized exchange transactions and TVL growing to $12.49 billion.

Regulatory Developments

- Global regulatory coordination saw the Financial Stability Board highlight significant crypto regulatory implementation gaps.
- European Union stablecoin consortium actively advancing with nine banks collaborating on a euro-backed digital asset.
- Switzerland initiated consultations on stablecoin frameworks to enhance financial market competitiveness.
- In the US, “Project Crypto” progresses, aiming for harmonized digital asset regulations; UK’s FCA accelerates its stablecoin policy.
- Asia continued enforcing exchange regulations with India cracking down on unregistered offshore platforms and Hong Kong advancing stablecoin licensing.

Price Movements & Onchain Activities

- Bitcoin consolidates above $110K with tight trading range and strong technical support.
- Ethereum navigates volatility amid ETF outflows but retains critical support above $3,700.
- DeFi projects lead altcoin sector activity as protocol governance and revenue sharing attract attention.
- Solana's network expansion and institutional adoption continue supporting ecosystem growth.

Looking Ahead

- The market remains poised at critical technical junctures, with stability near $110K significant for Bitcoin’s Q4 performance.
- Institutional ETF flows and regulatory clarity expected to guide market direction.
- DeFi governance milestones and security enhancements will drive protocol confidence.
- Continued rotation into defensive sectors like privacy coins may set the stage for future bull phases.

Capture strategic opportunities amid market evolution with AscendEX. Navigate institutional flows and market consolidation with AscendEX’s advanced trading infrastructure. Subscribe to the Weekly Digest! Trade Bitcoin, Ethereum, and 800+ cryptos at AscendEX.com

- Up to 200x leverage on derivatives
- Real-time market intelligence and institutional-grade analytics
- Secure custody with multi-signature technology
- 24/7 professional support

Disclaimer: This report is informational only, not financial advice. Cryptocurrency investments carry risk. Conduct independent research.