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ChainCatcher news, glassnode published a weekly market observation article. The article pointed out that bitcoin has fallen below the STH cost basis and the -1 STD range, putting pressure on recent buyers; the $95K-$97K region has now become a key resistance level. If this area can be reclaimed, it will mark the early steps of a recovery in market structure. On the other hand, spot demand remains weak, with US spot ETF inflows significantly negative, and TradFi asset allocators have not increased any buying. Speculative leverage continues to decline, reflected in the decrease in open interest for futures of the top 500 assets and funding rates dropping to cycle lows. The options market has significantly repriced risk, with implied volatility rising across all maturities, while skew remains very low, as traders pay high premiums for downside risk protection. This deeper decline continues the mild bearish trend highlighted last week and has raised doubts about whether structural support may reappear. All these factors together constitute a market seeking stability, with its future direction depending on whether demand can re-emerge near key cost levels, or if the current fragility will evolve into a deeper correction or bear market.

According to ChainCatcher, citing official sources, the Uniswap Foundation has released its unaudited quarterly financial summary as of September 30, 2025. The foundation holds $54.4 million in USD cash and related assets, 15.3 million UNI tokens, and 241 ETH. Based on the closing prices on September 30, 2025, the total token market value reached $116.6 million. By the end of Q3 2025, the foundation had accumulated $6.6 million in operating expenses and achieved $141.4 million in donations, dividends, and interest income. In Q3 alone, operating expenses were $2.5 million, with $500,000 in income. Regarding grant commitments and incentives, the foundation has allocated a total of $108.3 million: $92.4 million will be disbursed in 2025 and 2026, and $15.8 million is reserved for previously committed grants to be paid out later. An additional $32.6 million will be used to cover operating expenses and employee rewards through January 2027.