An $11 billion Bitcoin whale has made a return to the cryptocurrency trading scene this week, likely in response to the historical crypto market surges typically seen in October. This move raised expectations for an upcoming rally amid ongoing market volatility in the United States.

The whale, who was noticeably absent from the market for two months, transferred another $360 million in Bitcoin (BTC), indicating a potential shift towards Ethereum (ETH), with approximately $5 billion still intact in its wallet.

In more uplifting news for the crypto space, the US Securities and Exchange Commission (SEC) received 31 applications for crypto exchange-traded funds (ETFs)—21 of which were filed in the early days of October, potentially fueling the anticipation of an ‘Uptober’ rally.

However, uncertainty looms due to the current government shutdown in the United States, which may delay the SEC’s responses to these applications as specified, stating they would operate under modified conditions until a funding bill passes.

As indicated by CBS News, the Senate’s gridlock has now extended the shutdown into the next week, fostering an environment of uncertainty for investors.

Bitcoin Whale Makes A Comeback With $360 Million Transfer

Following a notable sell-off of over $5 billion in Bitcoin towards Ethereum two months ago, the cryptocurrency whale is back with a significant $360 million transfer. This notable address engaged with decentralized finance (DeFi) protocol Hyperunit on Tuesday in what was its first transaction since its previous trading activity.

This suggests a possible shift back into Ether as the whale renegotiates its assets. With over $5 billion worth of Bitcoin still in reserve, it might indicate further selling pressures can be anticipated.

Source: Arkham

Continuing its operational efficiency, experts speculate that the whale may have begun consolidating its holdings ahead of potential market changes.

DeFi TVL Surges To New Heights Despite Reduced User Activity

A report from DappRadar highlights that while decentralized finance (DeFi) liquidity booms, the daily active wallet users dropped by 22% in Q3 of 2025 compared to Q2. The disparity presents an ambiguous picture of market engagement, particularly with retail users.

The financial landscape has changed with institutional investments seemingly increasing while retail engagement wanes, hinting at a transition phase in user participation against a backdrop of stringent regulations.

Unique Active Wallet Categories

Japan’s New Prime Minister to Encourage Crypto Growth

Sanae Takaichi, Japan’s newly elected Prime Minister, is poised to introduce regulatory reforms to enhance the country’s cryptocurrency industry, potentially positioning Japan as a leading global hub for blockchain innovation. Her election is anticipated to ease the path for technological advancements within the financial sector while upholding stringent regulatory standards.

Takaichi’s prior attention to “technological sovereignty” suggests her administration may actively promote and foster a more innovation-friendly ecosystem.

Sanae Takaichi

Afghanistan’s Internet Crisis: A Call for Decentralization

Afghanistan’s recent internet blackout illuminated the vulnerabilities in decentralized technologies reliant on centralized internet services. Following a government-mandated shutdown, essential connectivity was reestablished after 48 hours, revealing the critical need for more robust decentralization to eliminate dependence on singular internet providers.

This incident serves as a significant reminder of the necessity for a resilient online infrastructure to support future blockchain applications.

Internet Blackout Source

Ethereum Validator Exits Hit Record High

Ethereum has reached its highest validator exit rates this week, with more than 2.4 million Ether valued over $10 billion awaiting withdrawal from the proof-of-stake network. While these sizable exits could raise concerns for token sales, experts highlight that many withdrawals are likely being redeployed within DeFi frameworks rather than being sold.

Ether Validator Queue Source

As we observe these fluctuations in the cryptocurrency market, the developments surrounding DeFi signal significant changes, which we will continue to monitor weekly.