Bitcoin Core v30, released recently, removed its spam filter, reigniting an old debate that now threatens to split developers, spark a soft fork, and draw in big names like Michael Saylor.
On Oct. 24, two weeks after the action of Bitcoin Core v30, GitHub user Dathonohm introduced a pull request with Bitcoin Improvement Proposal 444. BIP-444 proposes a soft fork restricting adding non-monetary data (texts, images, etc) to the Bitcoin blockchain for one year.
The description explains that the proposal is aimed at overcoming Bitcoin’s identity crisis in 365 days:
As for the argumentation, Dathonohm repeats all the same reasons that have been circulating on Crypto X after the spam filter removal in Bitcoin Core v30 was announced.
Dathonohm and the BIP-444 supporters in the comment section name the following:
The two camps see the initial purpose of Bitcoin differently. The Knots and BIP-444 proponents believe Bitcoin is an electronic cash system; thus, they don’t want non-monetary data on the blockchain. They suggest that opening gates to illegal images threatens the well-being of Bitcoin’s primary use as a monetary system.
The Bitcoin Core supporters argue that Bitcoin should not always try to catch up with the law, as it was initially built as an alternative to any government. Moreover, they see neutrality in allowing any kind of data to be stored on Bitcoin. There is no “wrong” way to use Bitcoin, in their opinion. Some of them see a soft fork as too serious a change, no matter if it’s only for a year.
Many in both camps insult and troll each other online. They call each other “communists.” Bitcoin Core supporters think that the Knots camp is trying to suppress freedom of expression and censor Bitcoin. Knots and BIP-444 proponents see Bitcoin’s non-monetary use as an attack on financial freedom.
In September, not long before the adoption of Bitcoin Core v30, the founder of MicroStrategy (now called Strategy), Michael Saylor, voiced his concerns over spam data. He noted the following:
Saylor’s remarks didn’t influence the situation, and Bitcoin Core v30 was released as planned.
The Bitcoin Core team didn’t explicitly change the protocol. They didn’t remove the spam filter altogether. Rather, they gave users an option to regulate it. By default, the arbitrary data carrier now has a 100,000-byte size, which is way higher than the 83-byte limit. Allegedly, most node runners don’t change it.
However, one month into the use of Bitcoin Core v30, there is no evidence that Bitcoin has changed. Probably, initiatives coming from the limitless, arbitrary data carrier will follow soon. It is too early to judge how they will impact the network. As of the press time, Bitcoin is alive and well, and the main damage was done to the community spirit.


Bitcoin (BTC)
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Ethereum (ETH) is down by 9.2%, now changing hands at $3,208. This, along with Lido Staked Ether (STETH), is the highest fall in the category.
Solana (SOL) is in in the second place, having dropped 8.6% to the price of $142.
The smallest fall is 2.3% by Tron (TRX), which now stands at $0.2927.
When it comes to the top 100 coins, only four are green. Among these, Zcash (ZEC) appreciated the most, rising to the price of $507.
Leo Token (LEO) follows with a 2% rise to $9.17.
On the other hand, three coins saw double-digit drops. Story (IP) fell 15%, now trading at $3.34.
It’s followed by Aave (AAVE)’s 13.6% and Hedera (HBAR)’s 10.4% to $185 and $0.1606, respectively.
‘Bitcoin Appears To Be Fighting One Battle After Another’
Nic Puckrin, crypto analyst and co-founder of The Coin Bureau, argues that the “crypto market has been struggling to regain momentum since October’s pandemonium.”
“Bitcoin appears to be fighting one battle after another, dragged down by US dollar strength and higher Treasury yields, long-term holders selling, and macro uncertainty,” he says.
Puckrin finds it “unsettling” to see crypto and tech stocks diverging when they typically move in lockstep. This dynamic shows that BTC “isn’t just a proxy for the Nasdaq.”
Rather, it’s more sensitive to macro headwinds and liquidity concerns and is “perfectly positioned to break out once those concerns dissipate.”
Notably, as the US re-opens and data starts flooding back in, “we may see the BTC price wobble over the coming weeks.”
The real test could be the interest rate decision in the US on 10 December. Still, “it remains likely that the news will be positive, which could set the stage for a Santa rally in crypto and other risk assets,” Puckrin concludes.
Moreover, Dom Harz, co-founder of BOB, commented on institutional involvement in BTC as the coin’s price drops below $100,000.
“Despite recent price movement, 2025 has been the year of institutional investment into digital assets, with institutions now holding over 4 million BTC,” Harz writes in an email commentary.
These institutions are “increasingly looking to store excess cash in DeFi vaults for higher-yield opportunities. These two movements are converging with Bitcoin DeFi; moving the world’s biggest digital asset beyond a store of value and into a yield-generating asset. “
He continues: “As this mainstream appetite for DeFi grows, serious technological advancements are unlocking Bitcoin’s utility. Key players in institutional crypto and Bitcoin DeFi adoption are opening up access to BTCFi, where institutions can leverage yield-bearing opportunities for their BTC holdings. Bitcoin DeFi is poised to be at the forefront of the global financial system – from Wall Street to Main Street.”
Levels & Events to Watch Next
At the time of writing on Friday morning, BTC fell below the $100,000 mark and to the $96,000 level, now standing at $97,033.
The coin has dropped from the intraday high of $103,737 to the low of $96,170. It’s now down 4.7% in a week, 13.7% in a month, and 22.9% from its all-time high.
We may see BTC pull back towards $94,500 and further towards the $90,000 level. A higher plunge could drag it lower. Conversely, if there is a change in course, the coin could climb back above $100,000 and move towards $103,000.Bitcoin Price Chart. Source: TradingView
Ethereum is currently changing hands at $3,208. It plunged from today’s high of $3,545 to the currently lowest point of $3,126.
Over this past week, it has been trading between $3,172 and $3,633. ETH is down 4.3% in a day, 22.2% in a month, and 35.1% from its ATH.
ETH may continue dropping today and over the next few days. Should that happen, it could retreat below the $3,000 level – far from the near-$5,000 zone where it stood just weeks ago. If there is a market rebound, the coin could return to the $3,500 territory and potentially $3,650.
Ethereum (ETH)
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Meanwhile, the crypto market sentiment has decreased again, holding firmly to the fear zone and moving to extreme fear. The crypto fear and greed index fell from 25 yesterday to 22 today.
Some investors are selling assets, driven by fear and worry over the continuously falling prices. If the market continues to ride this instability, it may decline further.
However, if assets are oversold, as high fear can sometimes indicate, the market could potentially see a rebound. Undervalued prices could also present a potential buying opportunity.Source: CoinMarketCap
ETFs See Significant Outflows
On Thursday, the US BTC spot exchange-traded funds (ETFs) recorded $869.86 million in outflows, the highest since February 2025 and the second-highest on record. The total net inflow is back down to $60.21 billion, but it still stands above $60 billion.
Ten of the 12 BTC ETFs recorded negative flows, and there were no positive flows. Grayscale let go of $256.64 million. It’s followed by BlackRock’s $256.64 million. One more triple-digit is $119.93 million by Fidelity.Source: SoSoValue
At the same time, the US ETH ETFs continued their outflow streak, recording another $259.72 million leaving on 13 November. The total net inflow pulled back to $13.31 billion.
Five of the nine funds recorded outflows. There were no positive flows. BlackRock is the reddest among these, letting go of $137.31 million. Grayscale follows with $67.91 in outflows.Source: SoSoValue
Meanwhile, Canary Capital’s XRPC, the first US spot exchange-traded fund offering direct exposure to XRP, made its debut on Thursday with $58 million in trading volume.
Such notable opening performance indicates that there is a rising institutional appetite for exposure to other major assets, besides BTC and ETH.
Quick FAQ
Why did crypto move against stocks today?
The crypto market has decreased again over the past day, and the stock market closed sharply lower on Thursday, dragged by technology shares. By the closing time on 13 November, the S&P 500 was down by 1.66%, the Nasdaq-100 decreased by 2.05%, and the Dow Jones Industrial Average fell by 1.65%.
Is this drop sustainable?
The market may see an extended downturn over the next few days as investors’ worries persist. However, should there be macroeconomic and/or geopolitical signals that would ease these concerns and reassure investors, the market could see a rebound.
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