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According to Frank Chaparro, project director at The Block, Wells Fargo posted a position for a Head of Digital Asset Services four days ago. Responsibilities include: developing a three to five-year strategy covering tokenized deposits, on-chain collateral, intraday liquidity, and 24/7 programmable payments—fully integrated with wire transfers, ACH, RTP, FedNow, and SWIFT.Not long ago, Morgan Stanley and JPMorgan also hired senior leadership talent in the cryptocurrency space.

According to an analysis model released by CryptoQuant analyst Darkfost, the indicator based on Bitcoin's four-year Simple Moving Average (SMA) has entered the bear market level range.This indicator measures Bitcoin's valuation status through standard deviation and SMA multiples: the higher the multiple, the deeper the overbought level, and the closer the price is to the four-year SMA, the lower the valuation. The current Bitcoin price has fallen back to the green zone and is close to the four-year SMA level, which is currently around $57,500. Historically, this level usually marks the final stage of each bear market, with BTC prices often consolidating in this area for several months. Darkfost stated that he typically does not favor models based on moving averages, but believes this indicator is worth paying attention to.

According to the Wall Street Journal, "Fed whisperer" Nick Timiraos wrote that key indicators of the U.S. economy are pointing in the same positive direction: inflation is declining, the labor market remains strong, and economic growth is solid. This is not a final conclusion, but it is the closest the U.S. economy has ever come to achieving a soft landing (i.e., curbing inflation while avoiding a recession). Just four years ago, many economists thought this was impossible. Now, the scenario of the U.S. economy bringing inflation back to the Fed's 2% target without falling into recession has become credible again.However, even if an oxygen mask is not needed, it is still too early to unbuckle the seatbelt. The Fed's preferred inflation measure, core PCE, is currently close to 3%, and several forecasters expect that as tariff-related price increases are transmitted to more areas, significant progress on inflation this year is unlikely.Meanwhile, the labor market may not be as strong as last week's report suggested. Jeffrey Cleveland, chief economist at Payden & Rygel, stated that, objectively speaking, the labor market has been weak, and this year the unemployment rate is more likely to rise than to fall.

According to CoinDesk, BlackRock's head of digital assets, Robert Mitchnick, stated at the Bitcoin Investor Roundtable that the rampant leveraged speculation on crypto derivatives platforms is exacerbating market volatility and may undermine Bitcoin's long-term positioning as a stable institutional hedge.Mitchnick pointed out that the fundamentals of Bitcoin as a "global, scarce, decentralized monetary asset" remain solid, but its short-term trading behavior increasingly exhibits characteristics of a "leveraged Nasdaq," which will significantly raise the threshold for conservative institutional investors to allocate to this asset.Mitchnick also refuted the view that spot ETFs exacerbate market volatility. He noted that during a week of market turmoil, BlackRock's IBIT fund only experienced a 0.2% redemption; if hedge funds were to liquidate on a large scale, there should have been outflows in the billions of dollars, whereas the actual billions of dollars in liquidations occurred on leveraged platforms.

According to a report by Cointelegraph, a study by data provider Amberdata found that WLFI exhibited significant warning signs during a massive market liquidation on October 10, 2025. More than five hours before approximately $6.93 billion in leveraged positions were liquidated across the network, WLFI began to decline sharply, while the price of Bitcoin remained around $121,000, showing no obvious signs of pressure.The study suggests that due to many trading platforms supporting WLFI as collateral, the token's extreme volatility led to a decrease in collateral value, forcing traders to liquidate BTC and ETH to cover their positions, triggering a chain reaction across the entire market. Mike Marshall from Amberdata stated that this five-hour lead time is hard to consider a coincidence, as WLFI's high leverage characteristics make it more sensitive to market pressures.

According to CoinDesk, based on the analysis by NYDIG's research director Greg Cipolaro, there is a divergence in sentiment between U.S. institutional investors and offshore traders in the Bitcoin market.Currently, the annualized basis of CME (Chicago Mercantile Exchange) Bitcoin futures is higher than that of the offshore exchange Deribit, indicating that U.S. hedge funds and other institutions still prefer to pay a premium to maintain long positions, while interest in leveraged long positions in the offshore market has significantly decreased.In response to previous market rumors that the "quantum computing threat" caused Bitcoin to drop to $60,000, NYDIG believes that the data does not support this logic. Recently, Bitcoin's movement has shown a positive correlation with quantum computing-related stocks such as IONQ and D-Wave, rather than a reverse divergence. If quantum computing indeed poses a targeted threat, related stocks should rise when Bitcoin falls. The current synchronized decline reflects a general decrease in market risk appetite for long-term growth assets.Additionally, Google Trends data shows that an increase in related search volume typically accompanies a rise in coin prices rather than a decline, indicating that the topic is more driven by market enthusiasm rather than panic selling.

According to Bitcoin.com, Jurrien Timmer, the Director of Global Macro at Fidelity, stated on the X platform that Bitcoin recently dropped to $60,000, reaching the support area predicted months ago, suggesting that the bear market bottom may have formed and a new expansion phase could begin.He pointed out that the drop to $60,000 is relatively shallow, and as Bitcoin matures, volatility will gradually decrease. He expects that after several months of consolidation, a new bull market cycle will start, potentially reaching new highs.Timmer included chart analyses indicating a correlation between Bitcoin prices and global money supply, with $60,000 serving as a technical support level. Another chart titled "The Maturity Path of Bitcoin" depicts its historical waves: from early $2 and $24 to breaking the $64,000 high, pointing towards a projected sixth wave area of $290,425. This model integrates curves and macro variables, outlining a long-term framework towards $1 million.He emphasized that if the cyclical patterns and adoption trends continue, Bitcoin is expected to progress along a structured maturity path after consolidating at $60,000.

According to Bitcoin News, attacks against Bitcoin holders in France are accelerating.Since 2017, there have been 47 recorded attacks against Bitcoin holders in France, with 38 occurring in the past 13 months. The vast majority of these incidents have happened recently, indicating a sharp increase in criminal activities targeting cryptocurrencies.

According to The Fintech Times, UAE digital bank Zand is expanding its partnership with Ripple, specifically to support RLUSD in Zand's regulated digital asset custody services, research direct liquidity solutions between the regulated dirham stablecoin AEDZ and RLUSD, and explore issuing AEDZ on the XRPL.

Tom Lee stated in an interview with Rug Radio founder Farokh Sarmad that the current crypto market is experiencing a "mini winter," which will not be a long-term bear market, but will require time to digest. He advises investors not to wait for the perfect bottom and to start buying in batches at lower points now. The pain may last for a few months to half a year, but a significant turnaround will be seen in 2026.Additionally, Tom Lee mentioned that he does not regret buying ETH too early and stated that ETH is currently near the bottom (possibly briefly dropping below $1800 or $1890), but historically there have been 8 V-shaped recoveries. In the long term, ETH is the "story for the next 15 years"—the underlying foundation for stablecoins, AI, and the creator economy.Finally, Tom Lee once again predicted that Bitcoin will rise to $200,000 to $250,000 in 2026, while Ethereum will reach $12,000 to $22,000 based on historical ratios.

According to SoSoValue data, this week the net inflow of XRP spot ETFs during trading days was $7.65 million.The XRP spot ETF with the highest net inflow this week was Franklin ETF XRPZ, with a weekly net inflow of $5.4175 million, bringing the historical total net inflow of XRPZ to $328 million. The second was Canary ETF XRPC, with a weekly net inflow of $4.2091 million, and the historical total net inflow of XRPC currently stands at $413 million. The XRP spot ETF with the highest net outflow this week was Grayscale XRP Trust GXRP, with a weekly net outflow of $5.897 million, and the historical total net inflow of GXRP is currently $131 million. As of the time of writing, the total net asset value of XRP spot ETFs is $1.01 billion, with an ETF net asset ratio (market value as a percentage of total XRP market value) of 1.18%, and the historical cumulative net inflow has reached $1.23 billion.

According to SoSoValue data, this week the Ethereum spot ETFs experienced a net outflow of $161 million.The Ethereum spot ETF with the highest net outflow this week was the BlackRock ETF ETHA, with a weekly net outflow of $113 million, bringing its historical total net inflow to $11.98 billion. Following that was the Fidelity ETF FETH, with a weekly net outflow of $40.75 million, and its historical total net inflow currently stands at $2.47 billion. The Ethereum spot ETF with the highest net inflow this week was the Grayscale Ethereum Trust ETH, with a weekly net inflow of $49.9 million, and its historical total net inflow has reached $1.71 billion. As of the time of writing, the total net asset value of Ethereum spot ETFs is $11.72 billion, with an ETF net asset ratio of 4.75%, and the historical cumulative net inflow has reached $11.65 billion.

According to SoSoValue data, this week, the Bitcoin spot ETF experienced a net outflow of $360 million. The Bitcoin spot ETF with the highest net outflow this week was the BlackRock ETF IBIT, with a weekly net outflow of $235 million. Currently, IBIT has a historical total net inflow of $61.61 billion.The second highest was the Fidelity ETF FBTC, with a weekly net outflow of $125 million. Currently, FBTC has a historical total net inflow of $10.98 billion. The Bitcoin spot ETF with the highest net inflow this week was the Grayscale Bitcoin Trust BTC, with a weekly net inflow of $110 million. Currently, BTC has a historical total net inflow of $2.05 billion.As of the time of writing, the total net asset value of Bitcoin spot ETFs is $87.04 billion, with an ETF net asset ratio (market value as a percentage of total Bitcoin market value) of 6.33%. The historical cumulative net inflow has reached $54.33 billion.

Backpack CEO Armani Ferrante posted on X that compared to TGE in a bull market, TGE in a bear market is less likely to result in retail investors being harvested.

According to Onchain Lens monitoring, the whale address "0x6C8" previously started to go long on ETH, at one point incurring a loss of over 3.5 million dollars. It is now profitable by 24,800 dollars and still holds a long position in ETH (20x), valued at 93.79 million dollars.

In the past 24 hours, a whale that went long on 105,000 ETH has closed a long position of 28,000 ETH, making a profit of $1.263 million, with an average closing price of $2,094.02. This address still holds 32,000 ETH, with an unrealized profit of $1.193 million. Additionally, he has placed a limit sell order for 3,000 ETH in the [$2,100 - $2,110] range. The two addresses currently hold a total of 77,000 ETH in long positions, with a total value of $160 million.

According to Coinglass data, the cumulative net inflow of CEX in the past 24 hours is 169,800 ETH, with the top three CEX by inflow as follows:Coinbase Pro, inflow of 67,700 ETH;Binance, inflow of 58,100 ETH;Kraken, inflow of 23,000 ETH.In addition, KuCoin had an outflow of 2,197.15 ETH, ranking first in outflows.

According to the Hong Kong Wen Wei Po, the Vice-Chancellor of the University of Hong Kong, Wang Yang, pointed out that the digital yuan has been tentatively involved in settlements in Hong Kong's digital asset market. In addition to traditional settlement methods, the primary issuance of Hong Kong dollar and renminbi bonds is also among the first in the world to apply digital yuan and digital Hong Kong dollars in the settlement process for digital bonds.Furthermore, Hong Kong will be the best market for accommodating onshore assets RWA. With regulatory adjustments and market development, there will be greater opportunities for renminbi assets to be issued as digital assets in the Hong Kong market, with digital yuan naturally being the preferred settlement currency. From a developmental perspective, stablecoins will become an important usage habit for offshore market users. In the internationalization of the renminbi, offshore renminbi stablecoins are one of the future options, while digital yuan deposits and digital yuan liquid assets provide the necessary reserve assets for offshore renminbi stablecoins.

According to Coinglass data, the cryptocurrency Fear and Greed Index is currently at 9, up 1 point from yesterday. The average over the past 7 days is 9, and the average over the past 30 days is 19.