A two-year investigation by the New York Times and the International Consortium of Investigative Journalists traced approximately $28 billion in funds linked to criminal activity through major cryptocurrency exchanges. Binance, OKX, and Bybit served as primary channels for proceeds allegedly generated through cyberattacks, social-engineering schemes, and large-scale fraud operations. The platforms reportedly enabled rapid conversion of illicit funds into widely traded digital assets and stablecoins, with flows continuing even after Binance paid a $4.3 billion U.S. settlement for anti-money laundering violations.

The Fear and Greed Index has dropped to 10, a level last seen during the Terra Luna collapse in 2022. Market strategist Timothy Peterson estimates a 50% to 75% probability of further decline before Bitcoin finds a bottom, potentially in December. Analysts remain divided on whether current conditions signal deeper correction or present an accumulation opportunity.

Bitcoin has declined to approximately $95,000 this week, entering its third consecutive week of losses. The probability of a Federal Reserve rate cut in December has fallen from 90% in late October to around 54%, data show. Bitcoin futures open interest dropped from nearly $100 billion to about $60 billion, reflecting significant institutional outflows.

Senators John Boozman and Cory Booker released a bipartisan discussion draft on November 11, 2025, that would transfer primary cryptocurrency oversight from the SEC to the CFTC. Most digital assets including Bitcoin and Ethereum would be classified as digital commodities under the proposal. The plan introduces new registration requirements and disclosure obligations, though lawmakers remain divided over DeFi regulations and the CFTC's capacity to regulate a trillion-dollar market.

Bitcoin's current bull run could conclude by late 2025, analyst Benjamin Cowen says, drawing on historical four-year cycles that peaked after U.S. presidential elections in 2013, 2017, and 2021. Bitcoin dominance has climbed to approximately 66%, indicating capital consolidation around the leading asset. Cowen sees the 50-week moving average near $100,000 as a key threshold that, if broken, would signal the bull phase is ending.

Strategy Inc. has completed a $715 million Series A Perpetual Stream Preferred Stock offering at $80 per share, with proceeds earmarked for Bitcoin purchases and operational liquidity. The offering exceeded its initial $405 million target due to strong institutional demand. The company's Bitcoin holdings now total 641,205 BTC with a cumulative acquisition cost of approximately $47.49 billion.

U.S.-based Solana exchange-traded funds attracted more than $400 million in capital within days of their late October launch, according to Farside Investors and CoinShares. Bitcoin ETFs recorded $1.7 billion in net outflows during the same period, while Ethereum products lost $473 million. SOL currently trades near $156, consolidating below key resistance at $165 as institutional demand diverges from broader market trends.

Investment firm Galaxy reduced its year-end 2025 Bitcoin price target to $120,000 from $185,000, reflecting structural changes driven by institutional adoption. Head of research Alex Thorn described the shift as Bitcoin entering a "maturity era," with lower volatility as ETF and traditional finance capital reshape price behavior. The firm maintains a constructive long-term outlook despite the revised forecast.

Digital asset markets experienced significant volatility on October 31 as over $16 billion in Bitcoin and Ethereum options reached maturity. More than $1.2 billion in leveraged positions were liquidated within 24 hours, erasing approximately $200 billion from total crypto market capitalization. Analysts highlight contrasting outlooks for BTC and ETH amid the expiry event.