Bitcoin dropped below $100,000 after an extended consolidation period. Exchange reserves reached an all-time low of 2.38 million BTC, according to CryptoQuant data. One-year inactive supply has increased 10% between 2024 and 2025, continuing an upward trend that analysts associate with sustained holding behavior.

ZCash dropped 14% in the past 24 hours, yet on-chain data suggest conditions for a potential recovery toward $1,000. Miner profitability remains strong, trading volume surged 138% to $4.61 billion, and spot investors accumulated $34.46 million worth of ZEC in 24 hours, signaling renewed market confidence.

Bitcoin is trading at $102,289, consolidating within a three-day range between $101,000 and $103,000. The Bid-to-Ask Ratio has turned positive at 0.2 for the first time in months, while the Bitcoin Bubble Index stands at 13.46, well below the typical market top reading of 139. Data show long-term holders have increased selling activity over the past thirty days, though multiple on-chain metrics point toward building accumulation that could support upward momentum.

Bitcoin fell to $103,700 as long-term holders sold approximately 400,000 BTC valued at $41.6 billion during October, according to CryptoQuant data. The selling pressure from wallets inactive for over six months, combined with whale distributions and weakening demand, pushed the asset toward the $100,000 level. Market demand has failed to keep pace with the ongoing distribution, with metrics showing negative growth over the past 30 days.

Bitcoin rose 1.28% to cross $110,000 on October 12, the first breach of that level since the same date. The advance follows a 0.87% monthly expansion in China's M2 money supply and $20 million in net inflows to U.S. spot Bitcoin ETFs this week, according to market data. Hong Kong's approval of a Solana ETF reflects growing regional demand for digital asset products.