Imagine watching your 🚗 cruise ship, Bitcoin (BTC), slow to a bare crawl in a month it's supposed to sprint (“Uptober”), while the speedboat next to it — an altcoin we didn’t expect — leaps ahead. That’s exactly what happened between October 25 and November 1, 2025, as Bitcoin slipped below $108,000, marking what may be its worst October in years. (CoinDesk) But behind that headline, surprising stories unfolded – from institutional shifts to whale wallet stirrings.
Here’s your friendly, witty, data-driven weekly recap, blog-style (yes, from the guy who’s written 500+ novels) of what happened, why it matters, and what we’ll (and should) watch next.
1. Top Market Movers
📊 Weekly Performance Snapshot
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Bitcoin (BTC) roughly dipped under $108K, down ~7-8% from earlier highs near $116K. (CoinDesk)
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Ethereum (ETH) hovered around ~$3,820 after rejecting the $3,860–$3,880 zone. (CoinDesk)
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Notable altcoins:
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Solana (SOL) – While we don’t have a precise weekly % in this period, broader pullbacks affected altcoins alongside BTC. (CoinDesk)
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XRP – Similarly in the red ~5-7% tied to the broader market slip. (CoinDesk)
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Dogecoin / Avalanche (AVAX) – Earlier in October (just ahead of our week) saw steep drops (AVAX ≈-70% at one point) in forced liquidation events. (Reuters)
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Major Breakouts / Breakdowns & Technical Levels
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Breakdown: Bitcoin sliding below ~$108K triggered alarm bells. (CoinDesk)
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For Ethereum: Key resistance band at $3,860–$3,880 rejected price action. Support sits in the $3,680–$3,720 zone. (CoinDesk)
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Narrative: While not a full breakout, the fact that ETH flirted with reclaiming $3,880 is a technical pivot to watch.
Highlights in Two Sentences
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The “safe-switcheroo” didn’t happen quite yet — Bitcoin faltered, altcoins broadly followed, but ETH remains resilient.
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Support/resistance dance suggests the “next leg” could come when ETH breaks above ~$3,880 or BTC finds footing above ~$110K.
2. Biggest News Events
Institutional moves
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The UK’s Financial Conduct Authority (FCA) lifted the ban on retail investors accessing cryptocurrency exchange-traded notes (ETNs). Fees plunged (e.g., Bitcoin ETNs down to 0.05%) and trading volumes surged. (Financial Times)
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Broader institutional demand remains strong: ETH’s ecosystem gets high praise as “best” and poised to reclaim highs. (CoinDesk)
Regulatory & macro headlines
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Jerome Powell’s remarks (via the Federal Reserve) indicated rate cuts aren’t guaranteed yet — spooking risk assets including crypto. (Fortune)
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On October 12, the U.S.–China trade war escalated: a 100% tariff announcement on Chinese tech exports triggered a ~US$19 billion crypto market wipeout. (The Economic Times)
DeFi/NFT/Layer 2 developments
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On-chain (see next section) showed stablecoin transaction volumes surged and stablecoins now make up ~30% of all on-chain volume. (Lexology)
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While no major hack is highlighted in this week’s pure window, the liquidation events in earlier October serve as a caution.
Why it matters
Institutional access and regulatory clarity are tightening the bridge between “crypto fringe” and “financial mainstream”. But macro softness (rates, trade war) still drags overall sentiment.
3. On-Chain Trends
Whale wallet movements
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According to IG, earlier in October ETH saw a whale move ~$90 million in ETH, signalling serious accumulation. (IG)
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While this week’s data is lighter, the “big money” is still in ETH ecosystem and underpins the bullish narrative.
Exchange inflows/outflows
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Not all flows are published in detail for this week, but the institutional product volumes (via futures/options) reached records in Q3 and are setting the base for sustained flows. (cmegroup.com)
NFT market volumes & top-selling collections
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A16z / TRM Labs report: stablecoins now represent ~30% of on-chain transaction volume, which shifts capital away from pure NFT/spec segments. (Lexology)
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While specific collection names weren’t highlighted in the week’s top headlines, keep an eye on NFT volume recovery as part of the “altcoin momentum beyond Bitcoin” story.
Stablecoin supply shifts & minting/burning trends
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The stablecoin surge (to >$4 trillion annual volume to August 2025) implies more capital in “parking mode” rather than active high-beta trades. (Lexology)
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Interpretation: Some of the smart money may be waiting in stablecoins until clearer breakout signals — a latent bullish sign.
4. Narrative Insights
What story did this week tell?
The story: “Bitcoin under pressure, but Ethereum and beyond quietly strengthening”. BTC’s stumble is the headline, but beneath the surface ETH is consolidating, institutional access is broadening (UK retail ETNs!), and stable-capital is sitting ready.
Smart money seems to be rotating: not necessarily out of BTC yet, but into ETH + alt ecosystem plays, while waiting for clear macro direction. Remember that whale move of ~$90 m into ETH? That’s a subtle hand raising in the crowd. (IG)
Early signs of a macro or sentiment shift
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Macro: Fed hawkish tone → crypto risk assets wobble → BTC falls under $108K.
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Sentiment: Shift from “everything going up in October” to caution mode — yet accumulation still happening under the surface (stablecoins, institutional ETNs).
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The “alt season” signal: With Ethereum’s ecosystem being called the “best in class” and poised to top $5,000 by some analysts. (CoinDesk)
Influencer quotes / tweets
“Ethereum is on edge of having a new all-time high north of $5,000” — analyst Michaël van de Poppe on X. (CoinDesk)
That one line sums up the growing confidence in ETH while BTC is in a hangover.
5. Technical Analysis Sidebar (Optional)
BTC / ETH / Trending Altcoin Charts & Brief TA
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BTC: Breakdown under $108K is key. If support near ~$104K holds, we could see bounce. If not, then sideways chop until macro prioritised.
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ETH: Key resistance ~$3,860–$3,880. Support around $3,680–$3,720. A clean reclaim of resistance opens the door to ~$4,200+ momentum. (CoinDesk)
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Altcoin (SOL): Watch breakout above prior high near ~$250 (hypothetical zone). RSI likely crossing key levels, moving averages converging.
Patterns to watch:
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Bullish if ETH “breaks and holds” above ~$3,880.
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Bearish risk if BTC falls below ~$104K and ALT worry sets in.
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RSI divergence, MA crossovers, Fibonacci retracement zones all in play (for committed traders only).
6. CTA & What to Watch This Week
🔍 What to Watch Next
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Will Bitcoin reclaim $110K+ and restore ‘uptober’ credibility, or will it consolidate under ~$108K and give momentum to altcoins?
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Monitor Ethereum for a breakout above ~$3,880. If achieved, that could launch ETH-led rally.
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Registry of institutional filings: more UK retail ETNs, U.S. SEC moves regarding spot crypto ETFs.
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Stablecoin mint/burn data and exchange net flows — they often presage large moves.
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Macro headlines: Fed commentary, U.S.–China trade updates, global inflation data → they still drive the crypto tide.
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Altcoin breakout candidates: especially those in DeFi/Layer 2/NFT ecosystems that may be quietly accumulating strength.
🔗 Internal Links & Glossary
Check our previous weekly recap [link to “Crypto Weekly Recap Oct 18 – 24, 2025”] and our glossary term “risk-on / risk-off crypto dynamics” for context.
🙋 Final Thought
While Bitcoin might’ve missed its sprint this October, the more interesting story is what kind of race is quietly forming behind it. Ethereum’s ecosystem, institutional rails (UK ETNs), and smart-money flows are aligning. If the macro wind turns favourable, we could see that altcoin speedboat overtake the cruise ship sooner than many expect. Stay nimble.
Catch you next week with another roundup — and remember: in crypto, expect chaos, but trade with clarity.
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