Dash, Aster, and ICP Lead Altcoin Surge as Bitcoin Slips Below $110K

I. Crypto Market Overview

Key Takeaways

Macro Environment

The Federal Reserve's recent rate cut and liquidity injection have boosted risk asset flows, supporting Bitcoin ETF inflows. Persistent high inflation in emerging markets like Türkiye is driving increased crypto adoption as an inflation hedge. The EU is moving to centralize crypto exchange oversight under ESMA, aiming to unify regulatory standards and bolster investor confidence.

Crypto Market

The crypto market showed a mixed trend over the past 12 hours, with Bitcoin down 0.34% at $109,592 and Ethereum down 0.39% at $3,851. Altcoins outperformed, led by DASH (+27.6%), ASTER (+24.7%), and Internet Computer (+21.5%), driven by high trading volumes and renewed interest in privacy and DeFi sectors. The surge in these tokens reflects sector rotation and strong ecosystem activity.

Today's Outlook

Hong Kong Fintech Week 2025 opens today, spotlighting real-world asset tokenization and digital finance innovation. The SBF trial begins, drawing global attention to regulatory risks and the aftermath of the FTX collapse, which may impact market sentiment.

Fear and Greed Index

80.00% Annual Percentile

35 Neutral

Total Crypto Market Cap

$3.70T

0.03%

Total Market Trading Volume

$105.37B

19.65%

Altcoin Season Index

27.27%

Quarterly Percentile

28 / 100

Total Futures Market Open Interest

3.23B

0.81%

Futures

887.84B

3.81%

Perpetuals

II. Industry Updates

Macro-economic Policies

The Federal Reserve cut its benchmark interest rate by 25 basis points last week and will end balance sheet reduction in December, boosting risk asset liquidity and supporting Bitcoin ETF inflows, which surged to $931M, driving BTC toward $140,000.

Fed Governor Christopher Waller advocated for another rate cut in December, reflecting internal debate on monetary easing. Lower rates are expected to further stimulate crypto market liquidity and support DeFi and NFT trading volumes.

Inflation in Istanbul accelerated to 3.31% month-on-month in October, with annual inflation at 40.84%. Persistent high inflation in emerging markets like Türkiye increases demand for crypto as an inflation hedge, supporting BTC and stablecoin adoption.

The Federal Reserve injected $50.35 billion into markets via its Standing Repo Facility, signaling liquidity concerns. Such interventions typically enhance short-term crypto market liquidity and can trigger increased volatility in BTC and altcoin prices.

U.S. and China reached a major trade agreement, with the U.S. reducing tariffs and China lifting export controls on rare earths. Eased trade tensions improve global risk sentiment, potentially increasing institutional allocations to digital assets.

Cryptocurrency Regulatory Trends

South Korea's Fair Trade Commission may classify Dunamu and Bithumb as financial conglomerates, imposing stricter capital and risk management rules, signaling tighter oversight of crypto exchanges.

The European Commission is considering centralizing oversight of crypto exchanges under ESMA, aiming to unify EU regulatory standards and reduce cross-border risks, which could boost investor confidence.

Senator Elizabeth Warren's legal team reaffirmed that her statements on Binance CEO CZ's legal issues are based on public records, highlighting ongoing U.S. scrutiny of crypto executive accountability.

DASH (DASH): DASH surged 27% in 24h to $90.81, driven by over $1B trading volume and renewed market interest in privacy-focused payment coins.

ASTER (ASTER): ASTER jumped 24% in 24h to $1.19, with $2.14B volume, boosted by APX-to-ASTER token conversion and strong DeFi trading activity.

Internet Computer (ICP): ICP rose 21% in 24h to $4.17, supported by $427M volume and increased adoption of its decentralized web infrastructure solutions.

Smart Money Movements

Galaxy Digital facilitated a $9 billion Bitcoin sale for a Satoshi-era investor in July 2025, marking one of the largest exits in crypto history and highlighting a shift from retail to institutional ownership.

A veteran Bitcoin holder transferred 1,000 BTC worth $110.6 million to Kraken, part of a broader trend of 7,003 BTC ($775.1 million) moved to exchanges over three weeks, fueling speculation of large-scale repositioning.

A prominent crypto whale increased Solana holdings by $2.45 million, bringing total SOL holdings to $110 million, matching their Ethereum position and signaling strong confidence in major altcoins.

The Bitwise BSOL ETF attracted $417 million in weekly inflows, driving Solana's price to trade at over three times its total value locked, despite weak on-chain sentiment and negative funding rates.

A trader with a perfect track record opened a $151 million long position on 39,000 ETH, reflecting strong conviction in an Ethereum rebound amid stablecoin reserves reaching $183 billion.

Events to Watch

Nov 3 (Mon)

Hong Kong Fintech Week 2025 opens, featuring RWA summit by HashKey Group; SBF trial begins, drawing global attention to FTX collapse.

Nov 4 (Tue)

Reserve Bank of Australia announces monetary policy decision; Finternet 2025 – Asia Digital Finance Summit convenes global regulators and industry leaders in Hong Kong.

Nov 4 (Tue)

THORChain mainnet upgrade to v3.12.0 at 17:00 UTC; Memecoin (MEME) unlocks 10.71 million tokens, valued at $16,443.

Nov 5 (Wed)

ADP Employment Report for October released at 8:15 am; Intuition mainnet launches, introducing new project functionalities.

Nov 6 (Thu)

Bank of England releases November rate decision at 12:00 GMT; US Initial Jobless Claims and Q3 productivity data published.

Table of Contents

I. Crypto Market Overview

Key Takeaways

Macro Environment

Crypto Market

Today's Outlook

II. Industry Updates

Macro-economic Policies

The Federal Reserve cut its benchmark interest rate by 25 basis points last week and will end balance sheet reduction in December, boosting risk asset liquidity and supporting Bitcoin ETF inflows, which surged to $931M, driving BTC toward $140,000.

Fed Governor Christopher Waller advocated for another rate cut in December, reflecting internal debate on monetary easing. Lower rates are expected to further stimulate crypto market liquidity and support DeFi and NFT trading volumes.

Inflation in Istanbul accelerated to 3.31% month-on-month in October, with annual inflation at 40.84%. Persistent high inflation in emerging markets like Türkiye increases demand for crypto as an inflation hedge, supporting BTC and stablecoin adoption.

The Federal Reserve injected $50.35 billion into markets via its Standing Repo Facility, signaling liquidity concerns. Such interventions typically enhance short-term crypto market liquidity and can trigger increased volatility in BTC and altcoin prices.

U.S. and China reached a major trade agreement, with the U.S. reducing tariffs and China lifting export controls on rare earths. Eased trade tensions improve global risk sentiment, potentially increasing institutional allocations to digital assets.

Cryptocurrency Regulatory Trends

South Korea's Fair Trade Commission may classify Dunamu and Bithumb as financial conglomerates, imposing stricter capital and risk management rules, signaling tighter oversight of crypto exchanges.

The European Commission is considering centralizing oversight of crypto exchanges under ESMA, aiming to unify EU regulatory standards and reduce cross-border risks, which could boost investor confidence.

Senator Elizabeth Warren's legal team reaffirmed that her statements on Binance CEO CZ's legal issues are based on public records, highlighting ongoing U.S. scrutiny of crypto executive accountability.

Trending Tokens

DASH (DASH): DASH surged 27% in 24h to $90.81, driven by over $1B trading volume and renewed market interest in privacy-focused payment coins.

ASTER (ASTER): ASTER jumped 24% in 24h to $1.19, with $2.14B volume, boosted by APX-to-ASTER token conversion and strong DeFi trading activity.

Internet Computer (ICP): ICP rose 21% in 24h to $4.17, supported by $427M volume and increased adoption of its decentralized web infrastructure solutions.

Smart Money Movements

Galaxy Digital facilitated a $9 billion Bitcoin sale for a Satoshi-era investor in July 2025, marking one of the largest exits in crypto history and highlighting a shift from retail to institutional ownership.

A veteran Bitcoin holder transferred 1,000 BTC worth $110.6 million to Kraken, part of a broader trend of 7,003 BTC ($775.1 million) moved to exchanges over three weeks, fueling speculation of large-scale repositioning.

A prominent crypto whale increased Solana holdings by $2.45 million, bringing total SOL holdings to $110 million, matching their Ethereum position and signaling strong confidence in major altcoins.

The Bitwise BSOL ETF attracted $417 million in weekly inflows, driving Solana's price to trade at over three times its total value locked, despite weak on-chain sentiment and negative funding rates.

A trader with a perfect track record opened a $151 million long position on 39,000 ETH, reflecting strong conviction in an Ethereum rebound amid stablecoin reserves reaching $183 billion.

Events to Watch

Nov 3 (Mon)

Nov 4 (Tue)

Nov 4 (Tue)

Nov 5 (Wed)

Nov 6 (Thu)

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