# exchanges

Bitcoin’s surge above $125,000 is colliding with tightening exchange supply and maturing custody, reinforcing a bias toward longer holding and self-custody. At the same time, retail trading app outages during volatility expose fragile market infrastructure as institutional demand via ETFs accelerates.

Bitcoin’s ascent to $122,000 with a $124 billion October market-cap gain is being driven by ETFs and methodical accumulation rather than retail euphoria. Claims of an Ethereum supply squeeze are meeting data-backed pushback, while demands for non-KYC ramps and trustless BTC–ETH swaps expose ongoing liquidity and custody frictions.

Bitcoin’s sustained level above $100,000 for 140 days underscores a maturing cycle even as more than 30,000 BTC flowed to exchanges at a loss, signaling stress among short-term holders. Institutions are escalating influence with a $1 million political donation tied to crypto privacy, while corporates explore Ethereum treasuries and reserves, sharpening the policy and balance-sheet calculus.

Today’s Bluesky crypto conversations center on the explosive growth in market capitalization, a wave of institutional investments, and shifting perspectives on exchanges and trading strategies. As major players double down on Bitcoin and Ethereum, users debate risks, rewards, and the future of the digital asset landscape.