## Bitcoin's Calm Recovery Above $114K

Bitcoin's recent rise to **$114,000** reflects a measured reset rather than a breakout. On-chain data from **Glassnode** reveals that since mid-October, approximately **62,000 BTC** have moved out of long-term inactive wallets, marking the first notable decline in illiquid supply this cycle.

This shift signals that some long-held coins are returning to more liquid hands, softening one of this cycle's strongest tailwinds.

### Whale Accumulation and Market Dynamics

**Whales** have been quietly absorbing this flow. Wallets holding large balances have added to their positions over the past 30 days and haven't meaningfully sold since October 15. In contrast, smaller holders (0.1 to 10 BTC) have been steady sellers since late 2024, resulting in a **redistribution phase** where weaker hands trim risk and larger holders accumulate.

In derivatives, leverage has stayed balanced. **Hyperliquid leaderboard data** show about **$4.1 billion** in open interest split almost evenly between longs and shorts, with a slight tilt toward the latter. **Coinglass** tracked around **$413 million** in liquidations over the past 24 hours, with **$337 million** being shorts—a moderate flush, not a full short squeeze.

Together, these dynamics explain the calm recovery in Bitcoin's price. The move from **$110K to $114.9K** was driven by a mix of **mild short covering** and **steady spot absorption** rather than momentum chasing. The market now sits in a neutral zone: illiquid supply is easing, whales are holding, and leverage is balanced.

For now, Bitcoin is likely to oscillate between **$113K and $116K** until the next catalyst emerges.

## Market Movement

- **BTC**: Bitcoin's rise reflects a modest recovery powered by **whale accumulation** and **mild short covering**, not broad-based demand signaling a new uptrend.
- **ETH**: Ether climbed to **$4,186**, up about **6%** over 24 hours, outperforming Bitcoin as traders rotated into higher-beta assets. However, on-chain and derivatives data suggest the move remains largely **momentum-driven** rather than backed by strong new inflows.
- **Gold**: **JPMorgan expects gold to climb** to **$5,055** an ounce by late 2026 and **$6,000** by 2028, driven by Fed rate cuts, stagflation fears, and rising demand from central banks and investors diversifying away from the dollar.
- **Nikkei 225**: Japan's Nikkei 225 surged past **50,000** for the first time amid optimism over U.S.-China trade talks and hopes for domestic demand expansion.

## Elsewhere in Crypto

- Betting Scandals Are Rocking Sports. Will Prediction Markets Help or Hurt?
- Could China ‘militarise’ cryptocurrencies to beat financial sanctions?
- Tether Eyes Fresh Investments to Push USAT Stablecoin to 100M Americans at December Launch

On-chain data shows roughly 62,000 BTC have moved out of long-term storage since mid-October, softening one of this cycle’s strongest tailwinds. But steady whale accumulation and a moderate short-side cleanup helped prices stabilize near $114K.


Bitcoin Whales Gobble Up Supply as Price Holds Strong Above $114K

## ETHZilla's Strategic Treasury Move

ETHZilla Corporation (Nasdaq: ETHZ), a technology firm bridging **traditional finance** and **decentralized finance (DeFi)**, has announced the sale of approximately **$40 million** worth of its **ETH** treasury holdings. The proceeds are earmarked for **share repurchases** under its existing $250 million stock buyback program.

### Share Repurchase Details
Since executing the sale on **October 24, 2025**, the company has repurchased around **600,000 shares** for about **$12 million**. ETHZilla plans to continue using the remaining funds from the ETH sale for additional repurchases and intends to keep selling ETH to buy back shares until the **discount to Net Asset Value (NAV)** is normalized.

### CEO's Statement
McAndrew Rudisill, Chairman and CEO of ETHZilla, stated, "We are leveraging the strength of our balance sheet, including reducing our **ETH holdings**, to execute share repurchases. We expect these repurchases to be immediately accretive, using cash raised through the sale of our **ETH**, while our common shares trade at a significant discount to NAV. By opportunistically repurchasing shares while our stock is trading below NAV, we plan to reduce the number of shares available for stock loan/borrow activity, while increasing the **NAV per share** of the Company."

### Remaining ETH Holdings
ETHZilla continues to hold approximately **$400 million** of **ETH** on its balance sheet to support future strategic initiatives.

### About ETHZilla
ETHZilla Corporation operates in the **DeFi** industry, focusing on connecting financial institutions, businesses, and organizations worldwide through secure, accessible **blockchain transactions** via **Ethereum Network** protocol implementations. The company generates recurring revenues through various **DeFi protocols** that enhance **Ethereum network integrity and security**. ETHZilla aims to bring traditional assets on-chain via **tokenization** and offers services including **DeFi protocol integration**, **blockchain analytics**, and **traditional-to-digital asset conversion gateways**.

### Forward-Looking Statements
This press release contains forward-looking statements regarding the benefits of the stock repurchase program, digital asset treasury strategy, and future performance. These statements are subject to risks and uncertainties, such as fluctuations in **ETH** prices, regulatory changes, and market conditions. Investors are advised to review the company's SEC filings for detailed risk factors.

### Media and Investor Contact
John Kristoff, SVP of Corporate Communications and IR, can be reached at IR@ethzilla.com.

/PRNewswire/ -- ETHZilla Corporation (Nasdaq: ETHZ)("ETHZilla" or the "Company"), a technology company connecting traditional finance and decentralized...

2 days ago Bitcoin Articles Digested