Bitcoin has surged to approximately $115,000, while Ethereum is trading near $4,200 as of October 29, 2025. These cryptocurrencies continue to serve as key anchors in the macro liquidity and programmable infrastructure landscape. Meanwhile, the CTK (ConstructKoin) presale is being analyzed for its potential to offer higher convexity compared to core Layer 1 holdings like Bitcoin and Ethereum. The CTK presale is structured with phased funding and real income sources from real estate financing, emphasizing a compliance-first approach. While it presents opportunities for significant upside, it also carries higher downside risks due to limited early liquidity. Key potential catalysts for CTK include pilot financing agreements and independent audits, though challenges such as regulatory complexity and execution risks remain.