Overview

• Bitcoin briefly traded near $116,600 and ether topped $4,650, their highest levels since late August, as large caps regained momentum late Friday.
• U.S. spot Bitcoin ETFs took in roughly $553 million in net inflows on Thursday and U.S. spot Ethereum ETFs added about $113 million, according to multiple data trackers.
• Institutional and treasury accumulation tightened supply, with CryptoQuant reporting ‘shark’ holders added about 65,000 BTC in a week and BitMine expanding its ETH treasury by 46,255 ETH.
• Derivatives positioning remained elevated with more than $300 million in 24-hour liquidations and resistance flagged near $117,000–$118,000, increasing the risk of sharp moves into expiries.
• CME FedWatch shows roughly a 93% probability of a quarter‑point rate cut next week, a macro backdrop investors cite as a catalyst for renewed crypto allocations.