After the market-wide downturn on October 10, the Bitcoin price showed no definite direction for the rest of the historically bullish month. At the moment, the premier cryptocurrency is struggling to gather any significant momentum to the upside. However, recent on-chain evaluation suggests that this period of relative silence could represent a springboard for the cryptocurrency’s sustained upswing.

Sender/Receiver Ratio Falls To One-Year Low 

In a recent Quicktake post on the CryptoQuant platform, pseudonymous analyst CryptoOnchain shared an interesting insight into Bitcoin’s future trajectory, leaning towards a bullish hypothesis in the report.

The relevant on-chain indicator here is the Bitcoin Sender/Receiver Address Ratio, which compares the number of active sending (selling) addresses to receiving (buying) addresses. This metric acts as a means to gauge the prevalent market sentiment within a period of time. 

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A high ratio (with a reading above 1) indicates that there are more sending addresses compared to the buying addresses. As a result, there is expectedly greater selling pressure in this market condition. On the other hand, a low ratio (a reading approaching 1 and levels below) reflects the preponderance of buying addresses. 

CryptoOnchain reported that Bitcoin’s Sender/Receiver ratio on Binance has recently fallen to 1.34 — its lowest level in the past year. As previously explained, when this ratio falls to levels such as it currently reads, it usually indicates that there are more buying addresses relative to the amount of selling addresses in the market. 

This shift in investor leanings typically signals an accumulation phase, where more investors are willing to acquire Bitcoin on exchanges. 

Interestingly, the analyst also referenced historical evidence, explaining that periods where this shift in market sentiment occurred often preceded the establishment of local price bottoms. As of late 2024, the Sender/Receiver ratio fell to levels around 1.3, with significant upward movement following suit, and a similar pattern was seen in early 2023.

According to CryptoOnchain, this current consolidation phase could signal that the market’s foundation is gaining strength. Thus, if history is anything to go by, Bitcoin’s price could see an immense upward boost in the days to come — one which could sponsor the world’s leading asset to see a fine amount of growth in the mid-term. 

Bitcoin Price At A Glance

As of this writing, Bitcoin is worth approximately $109,899, reflecting no significant movement in the past day. According to data from CoinGecko, the premier cryptocurrency is down by nearly 2% in the past seven days.

After what started as a disappointing week, the Coinbase stock (Ticker: COIN) seems to be back on a recovery path. COIN briefly touched the $350 level on Friday, October 31st, rallying on the positive earnings report and new developments from this week.

According to a new report, Coinbase has also entered into late-stage talks to purchase stablecoin infrastructure BVNK in an estimated $2 billion deal. This move represents a play in a much larger stablecoin industry push by the largest US-based cryptocurrency exchange.

Exchange Closes In On $2 Billion BVNK Deal

On Friday, Bloomberg reported that Coinbase is looking to complete a $2-billion acquisition of the London-based BVNK, pending due diligence. The San Francisco-based cryptocurrency company expects to close this deal before the year’s end or early next year, according to one of the sources close to the matter.

According to the report, the company’s venture capital arm, Coinbase Ventures, is an investor in BVNK. One of the cited sources also revealed that while the deal is already in late-stage talks, terms may change, and the deal is still at risk of collapsing. 

A Coinbase spokesperson told Bloomberg in a statement:

We don’t comment on rumors or speculation. Driven by our mission to expand economic freedom globally, we actively explore various opportunities—whether through building, acquiring, partnering, or investing – to advance our mission.

This latest Bloomberg report somewhat adds credence to the Fortune report—from earlier this week—that disclosed that Coinbase holds exclusivity with BVNK for takeover talks after winning the bidding war. Mastercard was reportedly also engaged in talks with the stablecoin infrastructure before setting its sights on Zerohash, another crypto startup, for over $1.5 billion. 

Hence, this BVNK purchase by Coinbase, if completed, would represent the latest one in a growing list of stablecoin-related deals in recent months. These developments come on the back of the introduction of the first crypto regulation (the GENIUS Stablecoin Act) in the United States.

Coinbase Posts Strong Earnings In Q3 2025

While Coinbase’s Q3 earnings call trended for an unusual reason, after CEO Brian Armstrong dropped a list of crypto buzzwords relevant to the Mentions Market, the crypto company delivered strong profits in the last quarter. 

The US-based crypto company reported about $1.9 billion in revenue and a bottom line of approximately $432.6 million in 2025’s third quarter, representing a 55% year-over-year increase. Meanwhile, the firm’s Bitcoin holdings have also jumped by 2,772 BTC to 14,458.

As of this writing, the Coinbase stock (COIN) is valued at about $343.78, reflecting a 4.6% jump in the past 24 hours.