Crypto mergers and acquisitions soared to a record $10 billion in the third quarter of 2025, fueled by global interest rate cuts and heightened demand for Bitcoin. This quarterly figure nearly equals the total deal value from early 2022 to mid-2025, highlighting a significant surge in activity. Central banks have implemented 312 rate cuts over the past 24 months, driving capital into riskier assets, including digital currencies. As Bitcoin is increasingly perceived as a digital gold alternative, institutional demand has risen, with long-term holders maintaining control over a near-record supply.