Happy Friday! Welcome to the 39th instalment of the Coinbyte Weekly Wrap.

The market traded on a weaker footing this week, with Bitcoin moving between a weekly high of around US$86,972 and a low of approximately US$80,337 before settling at around US$81,809. Based on the seven-day data provided, BTC declined during the week, with the latest price down from the levels seen earlier in the period.

Major altcoins also closed the week mostly in negative territory, with Ether down 8.59%, BNB falling 4.75%, Solana declining 8.14%, and Cardano down 5.45%. Dogecoin was among the weaker large-cap tokens, falling 10.34%, while TRX declined 0.57%. USDC remained unchanged over the seven-day period.

Trading activity across major cryptocurrencies remained active: BTC average daily volume reached approximately US$30.7bn over the past seven days, while USDT recorded around US$70.4bn. ETH and SOL recorded approximately US$13.4bn and US$3.0bn in average daily volume respectively.

Regulatory developments remained a key theme. The CFTC proposed a new federal framework for retail crypto transactions and a new registration category for crypto asset markets, aiming to strengthen customer protection and federal oversight. At the same time, Bitcoin approached its first full bullish moving-average alignment since 2025, with the 100-day moving average nearing a crossover above the 200-day.

Institutional participation continued to expand across crypto markets. Bitmine’s Ethereum holdings reached 6.02 million ETH, or about 4.9% of circulating supply, while Strategy’s Bitcoin holdings climbed to a record 848,000 BTC. U.S. spot Bitcoin ETFs recorded US$2.65 billion in September inflows, their second-highest monthly inflow since October 2025, while the broader crypto ETF market expanded beyond Bitcoin and Ether. GSR also committed US$100 million to launch an onchain credit business focused on stablecoin and tokenized gold vaults.

Institutional Bitcoin accumulation also remained active during the week. Strive added 2,000 BTC in its largest single transaction since June, bringing it closer to MARA. Strategy added another 334 BTC, while Metaplanet sold 10,000 BTC during the third quarter before buying back 11,000 BTC to “demonstrate liquidity.” In Ethereum, Tom Lee said Ethereum is “far ahead of other macro assets,” while Bitmine added 15,112 ETH to its holdings.

Crypto adoption continued to move beyond trading. Bitcoin-backed lending is increasingly being used for tuition, business working capital and other real-world expenses, while USDT is returning to the Bitcoin ecosystem through infrastructure supporting transfers, swaps and Bitcoin-backed loans. Together, these developments highlight continued expansion across crypto regulation, institutional participation, onchain finance and real-world applications.

Overall, this week’s market action showed continued weakness across Bitcoin and major altcoins, while regulatory developments, institutional accumulation and the expansion of onchain finance continued to shape the broader crypto market.

Performance

Newsflow

Regulation | CFTC Proposes New Crypto Market Framework

The CFTC has proposed a new federal framework for retail crypto transactions and a new “crypto asset market” registration category, with requirements aimed at preventing abusive practices and protecting customers. The proposal follows the Senate’s failure to advance the CLARITY Act and seeks to establish clearer federal oversight for crypto trading platforms. link

Market | Bitcoin Approaches Key MA Alignment

Bitcoin is approaching its first full bullish moving-average alignment since 2025, with the 50-day moving average already above the 100-day and 200-day averages. The 100-day average is now close to crossing above the 200-day, completing a setup that has historically accompanied major Bitcoin rallies, although past signals have produced mixed results. link

More News

Institution | Bitmine Chairman Tom Lee said the company will stop buying Ethereum once its holdings reach 5% of circulating supply. Bitmine currently holds 6.02 million ETH, or about 4.9% of supply, and needs roughly 100,000 more ETH to reach the target. The company has purchased ETH every week since launching its treasury strategy in June 2025. link

Institution | Strategy reported a US$20.91 billion gain on digital assets in Q3 and increased its Bitcoin holdings to a record 848,000 BTC after buying 334 BTC for US$28.7 million between Oct. 1 and Oct. 4. The company’s latest Bitcoin purchases were significantly smaller than its US$176.3 million in STRC preferred-stock buybacks during the same period. link

Institution | Crypto trading firm GSR is committing US$100 million of its own capital to launch Hare, an onchain credit business focused on stablecoin and tokenized gold vaults. The move expands GSR’s business beyond trading and market making into onchain credit, as institutional financial activity continues to move onchain. link

Institution | The U.S. crypto ETF market is expanding beyond Bitcoin and Ether as SEC listing standards now cover roughly 15 digital assets. Grayscale’s Zcash ETF attracted more than US$1 billion in its first 30 trading days, ranking among the top 1% of ETFs launched over the past decade by first-month assets. link

Institution | U.S. spot Bitcoin ETFs recorded US$2.65 billion in net inflows in September, their second-largest monthly inflow since October 2025. Spot Ether ETFs also attracted US$832.4 million during the month, showing continued institutional demand for crypto investment products. link

Adoption | Bitcoin-backed lending is expanding beyond trading as borrowers increasingly use BTC as collateral for real-world needs such as tuition, business working capital and major expenses. Ledn has funded more than US$11 billion in loans to date, while lenders are also developing fixed-rate products to make crypto-backed credit more similar to traditional lending. link

Stablecoin | Tether’s USDT is returning to the Bitcoin ecosystem through new infrastructure supporting transfers, direct swaps between Bitcoin and USDT, and Bitcoin-backed loans. The initiative uses Bitcoin-based technologies including Lightning and RGB, expanding potential use cases for USDT beyond its existing networks. link

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