Cryptocurrencies may have finally seen their dawn after a catastrophic performance throughout the past six months. October 2025 saw new all-time highs for Bitcoin, Ethereum, XRP, and a few others, while the rest of the altcoin market remained muted. However, having woken toward their weak tops right ahead of a winter of sentiment and economic data, cryptocurrencies saw their own seasonal rejection. That came after a historic year-long run in Bitcoin that took it above $100,000 for the first time.
Since the conflict, while global stock markets have struggled, Bitcoin and Ethereum formed a double bottom and remained relatively protected from the general deleveraging wave seen elsewhere. The 20 millionth Bitcoin was mined on March 10, and the supply cap of 21 million is expected to be reached in roughly 120 years. For those who didn’t know, Bitcoin’s halving mechanism halves the reward per mined block as more supply is mined. This creates a sense of scarcity over time, and it has historically exerted a strong influence on price dynamics.
Ethereum is also seeing its largest on-chain activity, now above its 2021 peak. This hasn’t yet fully shown up in crypto prices, as general sentiment remains relatively weak, but it is certainly helping the case at least withstand further selling pressure. Ethereum is also bouncing in a more progressive upward channel since its end-February double bottom. Similarly as BTC, bulls will want to mark a clean break above $2,200 (and session close optimally) to relaunch the bull momentum even further.
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