Geopolitical uncertainty and shifts in interest rate expectations have led institutions to allocate capital to gold and silver. Silver, in particular, has amplified gold’s movement due to limited supply and sensitivity to speculative flows. Gold surpassed $4,500 per ounce for the first time, showing strong performance compared to Bitcoin. Silver rose to $72.27, supporting gold’s movement.

10X Research founder Markus Thielen argues that Bitcoin’s lag in 2025 is primarily because the “digital gold” narrative has failed to attract institutional capital on Wall Street. While physical assets like gold and copper posted strong gains, Bitcoin did not gain enough from safe-haven or tech-focused investments.

Bitcoin Investors Remain Cautious

Bitcoin is still seen as a high-volatility risk asset. In risk-off periods, capital flows first into gold and government bonds, while Bitcoin remains secondary.

According to CryptoQuant, apparent Bitcoin demand has turned negative. Short-Term Holder (STH) SOPR remains below 1, indicating that short-term investors are exiting at a loss or break-even, increasing selling pressure. SOPR (Spent Output Profit Ratio) measures the profit or loss of a coin by comparing purchase and sale prices.

Macro Factors Limit Bitcoin’s Upside

Gold and silver have long-term, less price-sensitive investor bases, whereas Bitcoin remains dependent on short-term positioning and marginal demand. Hence, macroeconomic tailwinds alone cannot drive Bitcoin higher.

• Gold prices have risen around 12% since the start of the year, supported by central bank purchases.

• Silver has increased about 15% due to tighter supply and speculative demand.

• Bitcoin, by contrast, has remained sideways, fluctuating between 3–5%.

Bitcoin vs Gold Performance

The BTC-gold ratio, which shows the amount of gold required to buy one Bitcoin, fell from roughly 40 ounces in December 2024 to 20 ounces in 2025, a 50% drop. This reflects strong gold performance and institutional inflows rather than a collapse in Bitcoin demand.

Central banks purchased 254 tons of gold by October, and global gold ETF assets rose by 397 tons in the first half of 2025. Bitcoin demand weakened in H2; managed assets in spot ETFs declined from $152B to $112B, and long-term holders sold more than 500,000 BTC.

What Investors Should Expect

XWIN Research Japan’s base scenario:

• Gold and silver remain supported by safe-asset flows.

• Bitcoin’s upside is limited by weak demand and short-term investor pressure.

However, if apparent demand turns sustainably positive and STH SOPR stabilizes above 1, this assessment should be revisited.

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Instead, crypto markets are heading toward year-end in negative territory. Total market capitalization has declined more than 32% from its peak of roughly $4.4 trillion reached in early October and remains nearly 13% below levels seen at the start of the year. This disconnect between fundamentals and price action has led analysts to question whether deeper structural issues are holding the market back.

Is Something Structurally Broken?

One of the most vocal critics of the current market behavior is Ran Neuner. According to Neuner, rising liquidity, a pro-crypto political backdrop, ETF approvals, and strong performance in traditional assets like equities and precious metals should have translated into higher crypto prices. The fact that they have not suggests that the market may be constrained by factors that are not immediately visible.

Neuner outlines two possible paths forward: either the market eventually identifies the true source of persistent selling pressure, or crypto experiences a sharp catch-up rally once that pressure is exhausted.

Leverage and Persistent Selling Pressure

Economist Adam Kobeissi points to another key factor: excessive leverage. He argues that the wave of near-daily liquidations seen over the past two months reflects a broader structural shift within crypto markets. High leverage has amplified downside volatility, preventing prices from stabilizing despite improving macro and regulatory conditions.

Analyst PlanB highlights a more behavioral explanation. In his view, selling pressure continues to come from long-term holders still influenced by the 2021 market collapse, technical traders reacting to momentum indicators, and investors who believe the traditional four-year cycle implies another prolonged downturn.

Has the Crypto Winter Already Arrived?

Some analysts believe the debate is already settled. Markus Thielen, CEO of 10x Research, argues that Bitcoin entered a bear market in late October 2025 by pricing in an economic slowdown ahead of other risk assets. He notes that retail participation failed to meaningfully return during this cycle, while value creation remained concentrated in Bitcoin rather than spreading across the broader market.

Weak Prices, Strong Foundations

Despite disappointing price performance, industry fundamentals remain robust. Pantera’s Erik Lowe emphasizes that 2025 delivered more structural progress than any prior year. Regulatory realignment, the emergence of strategic Bitcoin reserves, growing stablecoin supply, and the expansion of tokenized real-world assets all point to long-term growth rather than decline.

In the short term, crypto markets may continue to struggle. Over the long term, however, the groundwork being laid suggests that the question is not whether the next expansion will come, but when and under what conditions it will unfold.

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The post Crypto Looked Ready for a Bull Market: Why Still Falling? appeared first on Coin Engineer.

DTCC Listings and Spot XRP ETFs

The Depository Trust and Clearing Corporation (DTCC) has added the following spot XRP ETFs to its list:

• Franklin XRP Trust (XRPZ)
• 21Shares XRP ETF (TOXR)
• Bitwise XRP ETF (XRP)
• Canary XRP ETF (XRPC)
• CoinShares XRP ETF (XRPL)

This step is considered a significant preparatory move toward making spot XRP ETFs available to U.S. investors. Market participants see the listing as a potential signal of an accelerated ETF approval process.

Canary Capital CEO Steven McClurg stated at Ripple Swell 2025 that after successfully launching Litecoin and Hedera ETFs, the company plans to launch the XRPC fund. McClurg noted that the ETF could go live within 20 days with no delays. WisdomTree’s XRP ETF is also expected to join the other funds on DTCC shortly.

Rising Demand and Market Dynamics

Demand for spot XRP ETFs is growing. Earlier this year, products like Teucrium’s 2x Long Daily XRP ETF (XXRP) and ProShares Ultra XRP ETF (UXRP) were launched. XXRP raised roughly $306 million in net assets in less than a year, demonstrating strong investor appetite for leveraged XRP exposure.

Solana and XRP futures are among the fastest-growing crypto products on the CME Group. Leveraging the infrastructure and liquidity developments of Bitcoin and Ethereum derivatives, these products support increased market participation and popular trading strategies. The SEC’s “General Listing Standards” adopted in September also provide regulations to speed up ETF approval processes.

Grayscale and Market Expectations

Grayscale aims to convert its existing XRP Trust into a spot XRP ETF. Since its launch in September, the Trust has amassed around $14 million in assets under management. These developments indicate rising investor appetite and growing innovation in digital asset markets. The surge in spot XRP ETF applications is viewed as a positive indicator of institutional investor interest.

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Leaders of the Outflows

The largest outflows occurred in the following three funds:

• Fidelity (FBTC)
• BlackRock (IBIT)
• 21Shares (ARKB)

Fidelity’s FBTC saw a massive $256.66 million withdrawn, making it the fund with the highest outflow. It was followed by 21Shares’ spot Bitcoin ETF (ARKB) with $144.24 million and BlackRock’s IBIT with $131.43 million. Grayscale’s GBTC recorded an outflow of $15.44 million, while Bitwise’s BITB fund saw $10.68 million withdrawn.

Eight Bitcoin ETFs, including Grayscale’s BTC, VanEck’s HODL, Invesco’s BTCO, Valkyrie’s BRRR, Franklin’s EZBC, WisdomTree’s BTCW, and Hashdex’s DEFI, reported zero flow activity.

This article may also interest you: Coinbase Publishes a Mysterious Message: Eyes on November 10

On November 6, Bitcoin spot ETFs recorded an inflow of $240.03 million. As of now, the total net inflow across all Bitcoin ETFs has reached $59.97 billion, with the combined total value of assets in these ETFs standing at $138.08 billion.

Despite Everything, Solana Keeps Attracting Inflows

As of November 7, Solana Spot ETFs continued their inflow streak for the ninth consecutive day, with a net inflow of $12.69 million. Interest in Solana Spot ETFs has been growing steadily since October 28. During this nine-day period, daily inflows rose from $9.70 million to as high as $70.05 million.

As of November 7, the total net assets under management (AUM) of Solana ETFs reached $575.93 million. The total net inflows into Solana Spot ETFs currently stand at $335.71 million. Meanwhile, total trading volume, which was around $27.95 million on November 6, has risen to $46.04 million as of November 7.

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Spot Solana ETFs Gain, Bitcoin and Ether Funds See Outflows

Solana (SOL) spot ETFs continued their winning streak for the sixth day, attracting fresh capital even as Bitcoin (BTC) and Ether (ETH) funds saw substantial withdrawals. According to Farside Investors, Bitcoin spot ETFs recorded $578 million in outflows on Tuesday alone, marking the largest single-day decline since mid-October. BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s FBTC led the withdrawals.

Ether ETFs faced similar pressure, posting $219 million in net outflows. Fidelity’s FETH and BlackRock’s ETHA products were the hardest hit, extending a five-day trend that has pulled nearly $1 billion from Ether-linked ETFs since late October. Meanwhile, Solana spot ETFs saw $14.83 million in net inflows, their sixth consecutive day of gains, benefiting funds such as Bitwise’s BSOL and Grayscale’s GSOL.

CZ Pardon and White House Statement

White House Press Secretary Karoline Leavitt stated that the pardon of Binance CEO Changpeng Zhao was reviewed with “utmost seriousness” and followed standard procedures before President Trump approved it. “Every pardon request is first reviewed by qualified lawyers before reaching the President for final approval,” Leavitt said.

In a 60 Minutes interview, Trump noted that he does not personally know Zhao. Zhao had pleaded guilty to failing to maintain an effective Anti–Money Laundering program under the U.S. Bank Secrecy Act and served four months in prison before being pardoned on October 23.

Binance CEO Denies Trump Family Stablecoin Allegations

Richard Teng, CEO of Binance, denied that the exchange played a role in the selection of USD1, the stablecoin issued by the Trump family’s World Liberty Financial, in a $2 billion deal. “The decision to use USD1 was entirely made by MGX; Binance did not participate,” Teng told CNBC.

The deal was initially announced in March, but scrutiny increased after Trump’s pardon of Zhao. Teng emphasized that Binance acted independently of political or corporate influence.

Current Market and Data Highlights

• U.S. ADP Non-Farm Employment: 42K (Forecast: 30K, Previous: -32K)

• BlackRock transferred 34,777 ETH ($115M) to Coinbase Prime

• Orderly protocol began $ORDER token buybacks using 60% of protocol fees

These developments show ongoing shifts in institutional investor behavior and ETF trends. Continuous inflows into Solana spot ETFs indicate that investors are seeking new opportunities rather than exiting the market.

Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don’t forget to follow us on Telegram, YouTube and Twitter for the latest news and updates

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As we all know, BTC and ETH spot listings already existed, and we were familiar with how they worked. However, this step for altcoins is a first and opens a significant door in the sector. Essentially, what used to be called a bubble is now beginning to be adopted by governments worldwide.

How Did the Process Work?

Earlier this September, the SEC issued a new regulation that included general standards to simplify the listing process for crypto/commodity ETFs. Thanks to this regulation, there was no longer a need for lengthy, separate reviews for each new product, and the process became considerably faster.

This article might catch your attention: Trump Media Enters Prediction Markets! Truth Predict Announced

Why Are Spot ETFs Important?

These spot ETFs provide investors with numerous benefits. The biggest advantage is that investors can invest in the ETF portion rather than directly in the crypto asset, securing themselves. Previously, investors could only do this for Bitcoin and Ethereum, but now they can invest in **Solana, Litecoin, and Hedera** without holding the actual crypto assets. In fact, Solana also offers **staking opportunities**, allowing investors to earn additional income through staking.

With the SEC accelerating this process, the acceptance of crypto assets in terms of ETFs is increasing day by day. Various expert opinions explain this situation as follows:

Thanks to these accelerated approvals, the flow of institutional capital into this segment could increase further, adding benefits to the existing crypto market in terms of liquidity.

Mainstream is now crypto again.

For the latest crypto news, click here now

The post Altcoin Spot ETFs Officially Launched! | Historical Milestone appeared first on Coin Engineer.

Canary Capital’s LTC and HBAR ETF Initiative

On October 27, Canary Capital submitted Form 8-A filings for Litecoin and Hedera to the U.S. Securities and Exchange Commission. This filing represents a required step for ETF products to be listed and traded on Nasdaq. Analysts suggest that the filing strengthens the possibility of a launch later this week.

Following the submission, the market reacted quickly. Hedera (HBAR) rose by 5%, while Litecoin (LTC) increased by 2.3%. This movement is seen as a strong signal that institutional investors are returning to the altcoin market. In addition, the SEC’s efforts to accelerate ETF processes may boost expectations for more crypto-focused financial products in 2025.

Bitwise Continues the Trend with Solana ETF

Bitwise Asset Management recently completed a Form 8-A filing for its Solana Staking ETF (BSOL). This move indicates that altcoin-based products could become more widespread following Ethereum ETF approvals. The company plans to list the ETF on the New York Stock Exchange Arca (NYSE Arca).

Experts say these steps could signify a significant expansion in the crypto ETF market. At the same time, the SEC’s historically cautious approach to altcoin products means the process must be monitored carefully. However, these developments could accelerate institutional capital inflows into crypto assets.

Market Expectations and Regulatory Process

Inclusion of major altcoins like LTC, HBAR, and SOL in ETF products could mark a new phase for the crypto market. This may increase market volume while reducing volatility. Additionally, wider adoption of ETFs can contribute to a more mature regulatory framework.

Market analysts predict that these filings could result in spot altcoin ETFs officially trading by the fourth quarter of 2025. Nonetheless, SEC review timelines could extend, as seen in previous cases.

Canary Capital and Bitwise’s actions indicate that the crypto finance market is on the verge of a significant transformation. Investors continue to closely follow every development regarding new ETF approvals.

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New Fund Officially Launched

Miami-based Defiance ETFs has launched its “Defiance Trillion Dollar Club Index” fund in the US. Additionally, it covers companies with a market value exceeding a trillion dollars and stocks known as the “Magnificent Seven.” The fund also includes BlackRock’s Bitcoin spot ETF. Warren Buffett’s Berkshire Hathaway shares are also included in the portfolio. This structure provides trillion-dollar fund investors with a broad portfolio opportunity.

The Role of Bitcoin Spot ETFs

Among the Bitcoin spot ETFs launched on January 10, 2024, BlackRock’s IBIT product was the most successful fund. Thus, investors can directly access approximately $88 billion in Bitcoin under management and a total market value of $2.2 trillion through the fund. Investors can invest in digital assets quickly and securely with Bitcoin ETFs.

You May Be Interested In: Bitcoin Spot ETFs See Inflows for 4 Consecutive Days

Defiance ETFs highlight market leaders in artificial intelligence, cloud computing, and digital assets within the fund’s portfolio. The fund offers investors the opportunity to directly benefit from technology and digital asset trends. Investors can diversify their investments with a trillion-dollar portfolio.

The company also offers the MSTX ETF, which provides leveraged access to Bitcoin. The fund offers leveraged investment opportunities at a 175% ratio to Strategy’s MSTR shares. Investors open larger positions with small capital and experience gains or losses at high levels. This feature creates an attractive opportunity for investors with high risk tolerance.

The Importance of Trillion-Dollar Funds

Investors can use the new fund to invest directly in both large-cap stocks and Bitcoin. The fund is being launched on the market, offering investors the opportunity to evaluate leading companies across different sectors and digital assets within a single portfolio. This creates an attractive opportunity for both trillion-dollar fund and Bitcoin ETF investors.

The post Bitcoin ETF: Trillion-Dollar Funds in Play appeared first on Coin Engineer.

This move highlights SEC’s cautious approach toward meme coin investments. Moreover, investors and analysts anticipate short-term market reactions. The SEC’s review ensures spot crypto ETFs are introduced safely and in a regulated manner. Additionally, the delay strengthens investor protection measures. 

SEC Grayscale Files Spot HBAR ETF 

Grayscale has submitted a Spot ETF application for Hedera (HBAR). The SEC postponed its decision until November 8, 2025. This delay reflects additional questions on Nasdaq’s commodity trust compliance. As a result, HBAR ETF undergoes thorough evaluation. HBAR and Polkadot (DOT) strong market performance has increased investor interest.

Furthermore, the SEC’s postponement addresses market manipulation and custody risks. Experts predict the HBAR ETF approval may extend into the fourth quarter. This process ensures crypto assets operate under a safer regulatory framework. Lastly, investors closely monitor SEC’s transparent approach. 

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The post SEC Delays DOGE and HBAR Spot ETF Decisions! appeared first on Coin Engineer.

Litecoin’s daily trading volume surged past $700 million today. This marks the highest level in nearly two weeks. Early in the day, volume jumped 76%, reflecting strong market momentum. At the same time, active addresses climbed to 269,000, confirming renewed investor interest. 

For comparison, Bitcoin recorded 181,000 active addresses during the same period. This made Litecoin one of the most actively used assets of the day. LTC is currently trading at $114.43 with a market capitalization of $8.72 billion. However, the price still stands 72% below its all-time high of $412.96. 

Analysts note that Litecoin has been consolidating within a symmetrical triangle since 2021. A breakout from this structure could send the price above $150. Meanwhile, growing market stability strengthens confidence, pushing LTC demand even higher. 

Last 24 hours

Litecoin active addresses: 269k
Bitcoin active addresses: 181k

— Litecoin (@litecoin) September 8, 2025

Institutional Interest and ETF Decision Fuel Momentum 

Litecoin’s momentum is not only supported by retail demand. Canadian firm Luxxfolio announced a $73 million expansion plan for its Litecoin portfolio. This institutional move highlights growing confidence in the asset. 

In addition, the SEC is set to deliver a decision on a Litecoin Spot ETF on October 2. Around the same period, a Solana Spot ETF ruling will arrive on October 10. Analysts believe these decisions could accelerate altcoin adoption as Q4, historically a strong season for crypto, begins. 

Moreover, Litecoin’s hash rate hit a new all-time high today at 3.149 PH/s. This milestone reflects miners’ commitment and trust in the network. Finally, higher mining power signals bullish momentum and adds to the increasing demand for LTC. 

Taken together, the rising trading volume, record hash rate, and growing active addresses show Litecoin’s position strengthening across the crypto market. 

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