XRP spot ETFs recorded $643.92 million in cumulative net inflows during their first month of trading, according to SoSoValue data. The products also reached $676.49 million in total net assets, capturing 0.50% of XRP’s market capitalization.
Daily inflows remained positive for most of the month. The strongest sessions included $243.05 million on November 14 and $164.04 million on November 24.
The ETFs generated a total value of $38.12 million in trading on November 26 alone. Trading volumes earlier in the month were higher, coinciding with large inflow spikes.
Meanwhile, other major asset managers are looking to enter the XRP ETF race. 21Shares is expected to launch its spot ETF on Monday as WisdomTree’s application remains under review.
Early Signs Point to Sustained Institutional Demand
ETF inflows increased on nine of the past ten sessions. The most recent daily total showed $21.81 millionentering XRP ETFs on November 26.
This inflow streak suggests institutions are still building exposure. It also reduces liquid supply on exchanges, as ETF custodians move XRP into regulated storage.
XRP ETFs Daily Inflows. Source: SoSoValue
Franklin Templeton disclosed 32.04 million XRP held in its ETF by November 25, signalling continued accumulation.
This steady inflow pattern in the first month is positive for new crypto ETFs and reflects improved regulatory clarity for XRP products.
Meanwhile, XRP wasn’t the only altcoin to receive an ETF greenlight over the past week. Dogecoin, HBAR, and Litecoin spot ETFs also started trading earlier this month.
However, these funds did not receive any notable interest from institutional investors. Bitwise and Grayscale’s DogeCoin ETF only attracted around $2 million in inflows in their first 48 hours of trading.
Bitcoin may be showing its first signs of demand recovery after a bruising month. The Coinbase Bitcoin Premium Index (CBPI) — a measure tracking whether US investors pay more or less for BTC on Coinbase vs. global exchanges — turned positive today for the first time in weeks.
The shift comes just as silver surged to a new all-time high above $55/oz, signalling renewed appetite for hard-asset exposure across markets.
What the Coinbase Premium Turning Green Actually Means
The premium had spent almost the entire month of November in negative territory, reflecting softer US demand, ETF outflows, and weakened liquidity.
Now, the green print suggests that US spot buyers are finally paying a slight premium again, a sign that domestic demand is stabilising.
In simple terms, the Coinbase Premium Index compares BTC price on Coinbase (USD market) with its price on major global exchanges (USDT markets like Binance).
Positive premium → US investors buying aggressively
Negative premium → Lower US demand or stronger international flow
Neutral → Balanced global demand
Today’s shift into positive territory indicates that US spot demand has improved for the first time all month, even while broader sentiment still sits in extreme fear.
This matters because the US market has historically led BTC price inflection points — particularly during liquidity transitions or macro pivots.
Silver hitting an all-time high is notable on its own. But its timing alongside a newly positive Coinbase Premium adds an interesting behavioural layer.
Historically, BTC–Silver correlation is low and unstable. Long-term correlation usually sits near 0 to +0.3. It spikes only during major macro fear episodes, and collapses when crypto-specific factors dominate.
Right now, BTC and Silver are clearly decoupled. However, this decoupling highlights something important
When silver rallies strongly while Bitcoin stops falling, it often marks the end of fear-driven selling.
The weakening US labour market is emerging as a major risk variable for crypto heading into December and early 2026. Rising layoffs, slowing hiring, and deteriorating consumer confidence have intensified expectations of a Federal Reserve rate cut.
The shift could influence Bitcoin and Ethereum more sharply than equities due to fragile liquidity conditions across digital assets.
Labour-Market Stress Increases Pressure on the Fed
Layoff announcements surged in October to their highest level since 2003. Several large employers cut jobs or froze hiring, reflecting tariff costs, AI restructuring, and post-shutdown uncertainty.
Consumer confidence also fell in November as job insecurity increased.
Alternative data shows US layoffs are surging:
Job cuts tracked by MacroEdge jumped +70,609 MoM in October, to 154,559, the highest in at least 2 years.
Monthly job cuts have now exceeded 100,000 for the 5th time this year.
Despite these pressures, weekly jobless claims remain low. Markets interpret this mixed picture as a sign that the economy is softening but not collapsing.
As a result, traders now expect a 25-basis-point rate cut at the December meeting. Futures markets price a significant easing for 2026.
A December cut would mark a sharp pivot from the Fed’s earlier “higher for longer” stance. It would also signal that the central bank is responding to labour-market weakness before broader damage spreads.
Fed Rate Cut Probability For December. Source: CME FedWatch
Crypto Markets Are Highly Sensitive to Liquidity Signals
Tom Lee described the market as “limping” for six weeks due to damaged liquidity capacity.
These conditions increase the impact of macro shifts. When liquidity is thin, changes in interest-rate expectations typically move crypto faster than equities.
This dynamic was clear during November, when ETF outflows and selling pressure pushed Bitcoin down nearly 30% from its October peak.
On-chain metrics now show signs of stabilisation. The 90-day Taker CVD has moved from persistent selling to neutral, indicating seller exhaustion.
At the same time, users are borrowing against Bitcoin rather than selling it, which reduces immediate supply pressure but increases latent liquidation risk.
December Rally Is Possible, but Not Guaranteed
A December rate cut would reduce real yields and inject liquidity into risk assets. Bitcoin historically rallies during such conditions, especially after deep drawdowns.
Several metrics already point to improving momentum. Fear and Greed Index readings lifted from 11 to 22. Average crypto RSI rose toward 60 after touching oversold levels earlier in the month. MACD also turned positive.
🔴Record layoffs in the US
US companies cut 153,000 jobs in October, 175% more than a year ago. That makes October the worst in 20 years and the rate the highest for the fourth quarter since 2008🗓
However, ETF flow data remains uncertain. November saw heavy outflows, though recent days show tentative inflows.
If ETF demand returns, thin liquidity could amplify upside moves. If outflows resume, the market could revisit recent lows.
Macro signals will therefore dominate crypto into year-end. A dovish Fed stance may trigger a rally similar to 2023.
A hawkish tone could undermine the current recovery and reinforce the bearish trend seen in November.
Binance Bitcoin & Ethereum Exchange Inflow Value Is Structurally Elevated
“This often aligns with phases of rotation rather than pure accumulation. Large players move size onto the exchange, giving the market more room for distribution.” – By @TeddyVisionpic.twitter.com/wnpOWkyhPL
Even if crypto rallies in December, January remains uncertain. The combined October–November employment report arrives on December 16. The release may confirm deeper labour stress not yet captured in weekly data.
If layoffs accelerate into January, risk assets may weaken. Markets could interpret labour deterioration as a sign of recession.
In that scenario, rate cuts may not offset broad risk aversion. Bitcoin often reacts first in such conditions due to its liquidity profile.
Alternatively, if the report shows moderate softness with stable wage growth, markets may price a controlled slowdown.
This would support a continuation of any December rally into early 2026. In both cases, liquidity conditions will govern the scale of price swings.
With momentum improving and liquidity still thin, the market remains primed for a significant move. The direction will be set by how the Federal Reserve responds to growing labour-market pressure and how investors interpret the broader economic signal in the weeks ahead.
The cryptocurrency market remains flat on Friday as Bitcoin holds its range, but the weekend may not stay this quiet. Three setups stand out as clear altcoins to watch this weekend, each for a different reason.
One token is trying to trigger a sentiment shift after weeks of damage. Another is fighting to maintain an uptrend. And one has been moving against the broader market for days and could surprise again. With Bitcoin stuck, these three may guide most of the short-term action.
Balancer (BAL)
Balancer is one of the more sensitive altcoins to watch this weekend, following its recent November 3 exploit. The token dropped almost 47% between late October and November 22 as confidence broke.
Now, the project plans to return approximately $8 million in recovered funds, which may bring a slight sentiment boost.
A new discussion is now live on the Balancer Forum for feedback, outlining a suggested framework for redistributing assets recovered during the recent attacks on v2, including both whitehat rescues and internal recovery efforts.
From a price perspective, BAL still trades inside a falling wedge, which is a bullish structure if the lower band holds. Support near $0.62 has stayed firm for days. The first meaningful level is $0.73.
A close above it breaks the wedge and opens a move toward $0.84. If momentum improves, the next zone sits near $0.99, where the better part of the breakdown started.
The Bull Bear Power indicator, which shows whether buyers or sellers control the price, has printed shrinking red bars since November 26. Red bars mean bears are in control; shrinking bars mean their strength is fading.
This decline in bearish pressure aligns with the wedge support and the sentiment bounce following the compensation update.
If sentiment holds and the market stays steady, BAL could be one of the more reactive weekend movers.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
Zcash (ZEC)
Zcash stays on the list of altcoins to watch this weekend because its long uptrend is still intact, but pressure has increased. The token has increased in value by more than 1000% in three months, but it has dropped by about 25% over the past seven days, indicating that its momentum has slowed. The key question for traders is whether ZEC can sustain the uptrend.
There is one early sign that it might.
Between November 11 and November 20, ZEC formed a higher low on the price chart while the RSI (Relative Strength Index) — a momentum indicator — made a lower low. This is called hidden bullish divergence.
It means the trend remains strong underneath, even if the pullback appears heavy. A similar pattern emerged between October 30 and November 11, with ZEC rallying by almost 74% immediately afterward.
When the price holds higher but the RSI dips lower, it often signals a continuation in strong markets.
For this case to play out again, ZEC must reclaim $582, which has been blocked every attempt since November 23. If buyers break that level, the next major barrier sits at $743. A close above $743 would confirm that the uptrend is back in control.
If ZEC drops under $440, the hidden bullish divergence breaks. That would mean a lower low has formed, and the short-term trend turns fragile. In that case, the weekend setup weakens, and ZEC loses its continuation signal.
For now, Zcash still maintains a cleaner structure than most assets and remains one of the technical altcoins to watch this weekend, as long as $440 remains intact.
Pi Coin (PI)
Pi Coin is the last name on the list of altcoins to watch this weekend, and it earns that spot for one reason: it continues to move against the market. While Bitcoin is down about 19% and Ethereum is down 24% over the past month, Pi Coin is down only 7%. That shows clear resilience. Over the last seven days, PI is up more than 12%, making it one of the few steady gainers in a weak market.
The chart now shows why Pi Coin is worth tracking.
A bullish crossover is getting close. The 20-day EMA is rising toward the 50-day EMA. An EMA is a moving average that gives more weight to recent candles. When the shorter EMA crosses above the longer one, it often signals rising momentum.
If this crossover is completed, Pi Coin could attempt to reclaim the one level it has not been able to surpass since late October: $0.295.
A clean close above $0.295 would confirm strength. That move requires almost 15% from current levels, but Pi Coin has already demonstrated its ability to outperform when the market slows.
Support levels sit close. The first line is $0.252, which is just under the current price. If that breaks, the next supports are $0.232 and $0.220. Below that, a deeper drop could open $0.209, especially if the bullish crossover fails to complete.
Zcash shocked the cryptocurrency market in the last 3 months. It delivered one of the most powerful rallies of the year despite previously being written off by a large portion of the cryptocurrency community as a dead-end project.
Notably, the Zcash rally played a significant role in putting privacy tech at the forefront of the conversation in the crypto community. This led to increased interest in other privacy coins (Monero, Dash) and protocols like Railgun.
ZEC Skyrocketed 10x
ZEC, which started October at a price of roughly $73, rallied all the way up to $736 by November 7, a return of over 10x in just over 2 months. During this surge, ZEC rocketed up the crypto market cap rankings, and currently sits in 15th place.
After hitting the $736 peak, the Zcash price made two attempts to set new highs, but came up short both times. The first attempt practically matched the $736 peak, while the second fizzled out at roughly $712, setting the stage for a deeper correction to the $500 level, which is currently the focal point of the ZEC market.
ZCash Price Performance. Source: CoinCodex
The price increase has also spurred increased on-chain activity, as analysts at OurNetwork noted that Zcash has recently posted its most active week of 2025, boasting a 197% week-over-week jump in transfer transactions.
ZCash Weekly Transfers. Source: OurNetwork
Why Zcash could rally to $1,000 and beyond
We’ve recently seen multiple developments that suggest the Zcash rally could still continue further, breaking past the resistance just above $700.
The algorithmic Zcash price prediction on CoinCodex is supporting this scenario, forecasting that Zcash will reach the $1,000 price level in Q2 of 2026.
Here are some of the key factors that could help ZEC actually reach that predicted milestone.
Grayscale files to convert its ZCSH trust into an ETF
Crypto asset manager Grayscale has filed an S-3 registration statement with U.S. securities regulator SEC with the aim of converting its Grayscale Zcash Trust product into a spot ETF. The Grayscale Zcash Trust, which currently trades on the OTC market, has been available since 2017.
In its filing, Grayscale highlighted the differences between Zcash and Bitcoin:
“The fundamental difference between Bitcoin and Zcash is that Zcash offers selective privacy-preserving features. Zcash accomplishes this privacy preservation by using novel cryptographic protocols called Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (“zk-SNARKs”) to protect both the amount and the sender and recipient of the transaction.”
Given the current wave of altcoin ETF approvals (ETFs for XRP, SOL, HBAR and DOGE are now available), it wouldn’t be too surprising to see a Zcash ETF be approved for trading in the US market. Still, it’s worth keeping in mind that Zcash’s focus on privacy could make it more difficult to convince regulators to approve investment products tied to it. Currently, there isn’t a single ETF on the US market that focuses on a privacy coin.
Cypherpunk Technologies (CYPH) plans to acquire 5% of the ZEC supply
Another potential source of bullish momentum for Zcash is Cypherpunk Technologies, a Zcash-focused DAT (digital asset treasury) company backed by the Winklevoss Twins.
Cypherpunk, which trades under the ticker CYPH, now holds 233,644 ZEC and plans to acquire 5% of the supply. Given that they currently own about 1.4% of the supply, Cypherpunk could provide a persistent source of buying pressure as they scale their treasury towards the 5% target.
The firm has so far spent roughly $68 million to grow its Zcash treasury, and its average cost basis is around $291 per ZEC.
It’s easier than ever to trade and invest in Zcash
The Zashi wallet is integrated with NEAR Intents, allowing users to easily swap crypto assets from a variety of different blockchains for ZEC. The wallet also provides easy access to Zcash’s privacy features as it simplifies the shielding experience.
The shielded ZEC supply has reached nearly 5 million coins (it was under 2 million at the beginning of 2025). As more ZEC becomes shielded, the anonymity set grows, strengthening Zcash’s overall privacy.
The leading decentralized trading platform Hyperliquid has listed ZEC perpetual futures, enabling users on the widely used DEX to take leveraged positions in the privacy-focused asset. This listing points to strong community interest in gaining exposure to a coin that the market had largely overlooked for years.
Zcash can also be easily traded on the high-performance Solana blockchain, thanks to solutions such as Zenrock’s wrapped Zcash token (zenZEC).
The bottom line
Zcash’s 10x rally has thrust privacy tech back into the spotlight and sparked a surge in on-chain activity, but multiple catalysts suggest the move may not be over.
With Grayscale seeking to convert its ZEC trust into an ETF, Cypherpunk Technologies buying toward a 5% supply target, rading access constantly improving through tools like the Zashi wallet, Hyperliquid futures, and an ever-growing list of integrations, the foundations for another leg up remain firmly in place. If momentum continues and regulatory hurdles don’t stall progress, it’s possible that $1,000 ZEC might be a conservative target.
In the crypto market, the ability to earn and withdraw should be basic expectations—yet many exchanges fail to deliver. A recent experience by a Zoomex user challenges this norm, and his story deserves to be shared.
Through futures trading strategies, the user gradually accumulated $280,000 in profits. When preparing to withdraw, anxiety naturally arose. Past experiences on other platforms had taught him to expect the worst: delayed withdrawals, requests for additional documentation, account scrutiny, or even freezing. These concerns weren’t unfounded.
Many cryptocurrency exchanges have recently implemented strict controls on large profits, causing withdrawal delays, account freezes, and even profit cancellations for users flagged as “abnormal,” leaving them with only their principal. However, Zoomex’s actual performance surprised him. “Funds arrived on time, and the entire process was smooth and transparent. No complex reviews, no inexplicable delays,” the user summarized simply.
Even more pleasantly surprising, after successful withdrawal, the platform proactively recognized him as an “excellent trader,” offering fee reductions and collaboration opportunities. This isn’t a punishment for successful traders—it’s a reward. Why does this matter? Because in the current market environment, successful withdrawals feel like a luxury.
The phrase “the real risk isn’t losing money—it’s earning money and not being able to withdraw it” circulates in trading communities, reflecting traders’ deep anxiety. Some even joke that “the biggest fear now isn’t liquidation—it’s earning big and being targeted by the platform.” This user’s story sends a clear message: if your trading strategy is compliant, the platform shouldn’t restrict your withdrawals simply because you’ve earned more. The ability to withdraw confidently is becoming a new standard for evaluating exchanges and choosing where to trade.
About Zoomex
Founded in 2021, Zoomex is a global cryptocurrency trading platform with over 3 million users across 35+ countries and regions, offering 600+ trading pairs. Guided by the core values of “simplicity × ease of use × speed,” the platform is dedicated to providing high-performance, low-barrier trading experiences.
Victoria, Seychelles, Nov. 28, 2025 — Bitget, the world’s largest Universal Exchange (UEX) will donate $1.54 million USD ($12,000,000 HKD) to fully support families affected by the Wang Fuk Court fire in Tai Po, Hong Kong, and to assist community rebuilding efforts.
The contribution responds to one of Hong Kong’s deadliest residential fires in decades, after a five-alarm blaze swept through multiple towers at the Wang Fuk Court estate on November 26, claiming at least 128 lives, injuring more than 70 people and forcing over 900 residents into temporary shelters.
Due to the incident, authorities have initiated criminal and anti-corruption investigations into the renovation works and the safety of materials used at the site, while emergency teams continue search, rescue, and recovery operations and families work to locate missing relatives.
To ensure that relief reaches those in need in a structured and accountable way, Bitget has mandated three of Hong Kong’s most trusted charities to execute the $12,000,000 HKD ($1.54M USD approx.) donation.
Yan Chai Hospital will receive $5,000,000 HKD ($640,000 USD) to support emergency medical services, treatment for the injured, and rehabilitation for affected families.
The Salvation Army Hong Kong will receive $3,500,000 HKD ($450,000 USD approx.) to provide financial assistance, temporary accommodation, basic necessities, and livelihood support for households that have lost homes and income.
Po Leung Kuk will receive $3,500,000 HKD ($450,000 USD approx.) to deliver psychological counselling, community outreach, and long-term case follow-up for survivors, bereaved families, and vulnerable residents in the surrounding area.
The relief fund is structured so that every dollar is deployed in a transparent, timely, and targeted manner, complementing the Hong Kong government’s emergency measures, temporary housing arrangements, and ongoing inspections of residential estates undergoing repairs.
Through medical assistance, financial support, mental health services, and on-the-ground community work, partnered charities will help families navigate the immediate aftermath of the disaster and the longer road to recovery.
Bitget stands with Hong Kong at this difficult moment and extends condolences to all those who lost loved ones in the Wang Fuk Court fire, with the hope that affected residents can rebuild their homes and communities as safely and quickly as possible.
About Bitget
Established in 2018, Bitget is the world’s largest Universal Exchange (UEX), serving over 120 million users with access to millions of crypto tokens, tokenized stocks, ETFs, and other real-world assets, while offering real-time access to Bitcoin price, Ethereum price, XRP price, and other cryptocurrency prices, all on a single platform.
The ecosystem is committed to helping users trade smarter with its AI-powered trading tools, interoperability across tokens on Bitcoin, Ethereum, Solana, and BNB Chain, and wider access to real-world assets. On the decentralized side, Bitget Wallet is an everyday finance app built to make crypto simple, secure, and part of everyday finance.
Serving over 80 million users, it bridges blockchain rails with real-world finance, offering an all-in-one platform for on- and off-ramping, trading, earning, and paying seamlessly.
Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP™, one of the world’s most thrilling championships.
Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.
On the afternoon of 26 November 2025, a level-five fire broke out at Kwong Fuk Estate in Tai Po, New Territories, Hong Kong, causing significant casualties and property damage. The disaster has deeply affected people across Hong Kong and the global Chinese community, prompting rapid mobilization from all sectors to support affected residents through donations, supplies, and volunteer services.
Against this backdrop, the AB Charity Foundation is donating HKD 10 million, in partnership with the Hong Kong Association for the Promotion of Peaceful Reunification of China, to support emergency relief and long-term community rebuilding efforts in Kwong Fuk Estate. Together, the two parties aim to advance sustainable humanitarian assistance and other public-interest initiatives.
Established in May 2025 in Ireland, the AB Charity Foundation is dedicated to promoting global public welfare, with a particular focus on vulnerable groups affected by war and natural disasters, especially women and children. This donation not only reflects the Foundation’s core mission of “technology for good,” but also embodies its vision of viewing the Earth as an interconnected whole, transcending regional, cultural, and ethnic boundaries to help build a genuinely supportive global community with a shared future for humankind.
About AB Charity Foundation
The AB Charity Foundation is an independent, Ireland-registered international non-governmental organization with legal status in the European Union. It is supported by AB DAO through both technological infrastructure and funding. The Foundation is committed to leveraging cutting-edge technologies—such as blockchain and artificial intelligence—to build a transparent, trustworthy, and traceable global infrastructure for philanthropy, promoting sustainable progress in education, healthcare, environmental protection, and humanitarian aid.
A congressional report alleges that the Trump administration generated over $800 million from cryptocurrency ventures in early 2025.
The report claims total Trump family crypto holdings climbed to $11.6 billion, alleging that foreign actors and state-linked entities invested in family projects in exchange for policy favors.
Crypto Ventures and Foreign Investment
On November 25, 2025, House Judiciary Committee Democrats released these findings. They allege that President Trump used his position to increase his family’s crypto interests while reducing enforcement and halting federal investigations into the industry.
The report from Rep. Jamie Raskin describes the Trump family’s accumulation of billions through crypto schemes driven by foreign investments and regulatory changes.
Trump family projects included World Liberty Financial (WLF), the WLFI governance token, the USD1 stablecoin, and the TRUMP meme coin. These ventures attracted substantial investments from foreign nationals and entities linked to foreign governments.
Allegedly:
The WLFI token sale raised $550 million in March 2025,
The USD1 stablecoin reached a $2.7 billion market cap.
TRUMP meme coin brought in $350 million in trading fees and reached a peak price of $75 before a sharp decline.
World Liberty Financial was co-founded by Eric Trump, Donald Trump Jr., and Barron Trump, along with business partners Zach and Andrew Witkoff, according to documents from the House Financial Services Committee.
We are thrilled to invest $30 million in World Liberty Financial @worldlibertyfi as its largest investor. The U.S. is becoming the blockchain hub, and Bitcoin owes it to @realDonaldTrump! TRON is committed to making America great again and leading innovation. Let's go! pic.twitter.com/cISTsVYP1f
Other major investors, allegedly connected to Chinese state-backed entities and the UAE royal family, were Guren Bobby Zhou, Aqua 1, MGX, and DWF Labs.
The investigation identified Chinese state-owned CNPC and UAE entities, including those linked to Sheikh Tahnoon, as key contributors to Trump’s ventures.
Top buyers were given access to White House meetings and golf courses, with several winners being foreign nationals. In addition, Trump Media & Technology Group revealed a $2.5 billion bitcoin treasury, deepening the family’s ties to cryptocurrency holdings.
Regulatory Rollbacks and Enforcement Actions
The Trump administration enacted major regulatory shifts on digital assets. In January 2025, President Trump repealed Executive Order 14178, a major Biden-era policy.
By March, a Strategic Crypto Reserve was created, marking a significant change in how the federal government approached cryptocurrency.
In April 2025, the Department of Justice disbanded the National Cryptocurrency Enforcement Team (NCET). Deputy Attorney General Todd Blanche issued an official memorandum ordering the immediate dissolution of this specialized unit.
This act ended “regulation by prosecution” in crypto enforcement. The Computer Crime and Intellectual Property Section remained in operation, but the dedicated enforcement team was eliminated.
Lawsuits and enforcement actions by the SEC and DOJ targeting major crypto firms with political connections were halted. Benefiting companies included Coinbase, Gemini, Robinhood, Ripple, Crypto.com, Uniswap, Yuga Labs, and Kraken.
In February 2025, the SEC ruled that meme coins are not securities, ending oversight for these digital assets.
According to the report, these pardons and sanctions rollbacks directly benefited supporters of Trump ventures.
Constitutional and Legal Concerns
Congressional investigators warn that the situation exposes deep flaws in US anti-corruption, campaign finance, and conflict-of-interest laws.
The report questions whether the Foreign Emoluments Clause, which bars federal officials from taking gifts or payments from foreign governments without congressional approval, was violated.
Lawmakers argue that existing laws cannot adequately prevent conflicts of interest and foreign influence in the crypto sector.
The sequence of policy changes and business initiatives raised alarm among investigators. World Liberty Financial announced the USD1 stablecoin just after Trump endorsed the GENIUS Act, a major piece of stablecoin legislation expedited through Congress in 2025.
The full staff report includes a timeline showing policy rollbacks, access, and investment events.
The investigation relied on reporting from TradFi and crypto outlets to verify reported numbers and policy actions.
It documents how prior opposition to crypto shifted to active industry support as money entered campaign and family business channels during and after the 2024 campaign.
Possible second order effects from Trump's win:
• BTC becomes a US strategic reserve asset • New regulatory regime will make it much easier for tokens to capture value from their protocols • Token classification framework could shift from "most tokens are securities" to… pic.twitter.com/Yar5Lk1yuG
House Judiciary Committee Democrats called for urgent congressional reforms, citing an unprecedented scale of self-enrichment and foreign influence through cryptocurrency.
The report stresses national security, legal, and ethical risks caused by foreign and corporate money bypassing anti-corruption protections.
It remains unclear if these allegations will result in new laws or further investigations as political debates continue.
Victoria, Seychelles, Nov. 28, 2025 — Bitget, the world’s largest Universal Exchange (UEX), has launched six all-new AI trading avatars inside GetAgent, marking a major step toward next-generation smart trading.
As traders across the world test how well leading AI models like ChatGPT, Gemini, and DeepSeek perform when placed into real trading environments, Bitget offers something more tangible: a lineup of AI traders with distinct personalities, strategies, and market philosophies, all running live, trading real accounts, and fully available for one-click copy trading.
Each avatar represents a different school of trading logic, ranging from conservative hedging and major-coin momentum to high-beta altcoin breakouts, contrarian reversals, and mechanical execution.
These include Steady Hedge, Majors Momentum, Altcoin Turbo, CTA Force, Infinite Grid, Dip Sniper, and DeepSeek (base model). All strategies have been built using a multi-factor library of professional trading indicators, extensive backtesting, and iterative refinement inside GetAgent.
From 18:00 on November 24 to 18:00 on December 15 (UTC+8), GetAgent users can access a limited one-click copy trading channel, selecting the avatar that aligns most closely with their trading personality. Each AI trader executes autonomously in real time, and users can follow every entry, exit, drawdown, and adjustment directly in the Model Arena.
With transparent performance curves, strategy documentation and real execution data, the experience offers a front row seat into how different trading strategies act under market pressure.
To encourage exploration, Bitget has launched a10,000 USDT airdrop pool for participating users. Anyone who successfully copy-trades and sends one message to GetAgent qualifies for the reward share, and the first 100 copy-trading users each day will receive contract copy trading vouchers worth up to 100 USDT.
“People want solutions they can actually use to trade,” said Gracy Chen, CEO of Bitget. “These avatars make trading feel more personal and more approachable. Whether someone prefers momentum, hedging, or contrarian plays, there’s now an AI companion that thinks the way they do.”
Instead of copying blindly, users can speak directly to each avatar. GetAgent allows traders to ask why an avatar entered a position, how it sets stop-loss levels, what signals it prioritizes, and how it adapts to different market cycles.
New traders gain clarity and confidence, while experienced users can stress-test ideas or explore unfamiliar strategies without risk to their core portfolios.
DeepSeek, included in the lineup as an unmodified base model, serves as a benchmark. At the end of the trading camp, Bitget will publish a comparative review of how each avatar performed relative to DeepSeek, offering one of the industry’s first real-world studies on AI trading behavior across different agent designs.
Whether a trader resonates with Steady Hedge’s caution, Altcoin Turbo’s appetite for volatility, or Infinite Grid’s range-based logic, GetAgent offers a way to match strategies with preference, bringing a new layer of relatability to AI-assisted trading.
Bitget’s six trading avatars bring that transparency into a single interface, powered by UEX’s infrastructure and GetAgent’s intelligent execution.
For more information and live performance tracking of the seven avatars, visit here.
About Bitget
Established in 2018, Bitget is the world’s largest Universal Exchange (UEX), serving over 120 million users with access to millions of crypto tokens, tokenized stocks, ETFs, and other real-world assets, while offering real-time access to Bitcoin price, Ethereum price, XRP price, and other cryptocurrency prices, all on a single platform.
The ecosystem is committed to helping users trade smarter with its AI-powered trading tools, interoperability across tokens on Bitcoin, Ethereum, Solana, and BNB Chain, and wider access to real-world assets. On the decentralized side, Bitget Wallet is an everyday finance app built to make crypto simple, secure, and part of everyday finance.
Serving over 80 million users, it bridges blockchain rails with real-world finance, offering an all-in-one platform for on- and off-ramping, trading, earning, and paying seamlessly.
Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets.
Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP™, one of the world’s most thrilling championships.
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THORWallet, the mobile-first non-custodial wallet bridging DeFi and TradFi, proudly announces the integration of TRON blockchain, bringing native TRX and TRC-20 USDT support into both the seed wallet and multisig wallet.
Users can now send, receive, hold, and manage all major TRON assets directly inside THORWallet. Additionally, users are now able to seamlessly swap TRX and USDT (TRC-20) across leading blockchains like Bitcoin, Ethereum, Solana, Binance Smart Chain, and many other supported blockchains, all natively within the THORWallet mobile app, without relying on bridges, wrapped tokens, or centralized intermediaries.
This new integration is powered by THORChain and expanded with NEAR Intents, unlocking the deepest decentralized liquidity and routing for the TRON ecosystem.
“THORWallet continues to push the boundaries of what cross-chain DeFi can be,” said Marcel Harmann, CEO of THORWallet DEX. “By adding TRON, we open the door to one of the world’s largest and most active stablecoin ecosystems, now fully interoperable with Bitcoin, Ethereum, Solana and beyond.”
TRON Joins the THORWallet Multi-Chain Ecosystem
TRON is one of the most widely used blockchain networks globally, known for its speed, low fees, and massive USDT transaction volume. Integrating TRON into THORWallet extends access to its growing DeFi and payments user base, enabling them to interact with assets and opportunities across multiple chains, from Bitcoin liquidity to Ethereum DeFi protocols.
With this update, THORWallet users can:
Swap TRX ↔ BTC, ETH, BNB, SOL and many more on the go.
Swap USDT (TRC-20) to and from native assets on THORChain and Near Intents supported networks.
Send & receive TRX and TRC-20 USDT
Manage all assets inside the THORWallet seed wallet and THORWallet multisig solution, enabling team treasuries, DAOs, and enterprises to secure TRON assets with the highest standards.
Maintain full self-custody while accessing deep, cross-chain liquidity.
Expanding THORWallet’s Cross-Chain Reach
TRON is the latest blockchain to join THORWallet’s growing cross-chain ecosystem, following the recent integrations of Sui and Stellar, both announced earlier this month.
With these additions, THORWallet continues to accelerate its mission of connecting the world’s most active blockchain communities through seamless, permissionless, and fully self-custodial interoperability. The arrival of TRON further strengthens this momentum by unlocking one of the world’s largest stablecoin ecosystems and extending THORWallet’s reach across yet another major global network.
THORWallet now supports cross-chain swaps via multiple liquidity and routing layers, including THORChain, Maya, Chainflip, 1inch, and NEAR Intents. Together, they cover a wide spectrum of ecosystems ranging from Bitcoin, Ethereum, and Cosmos chains to established ecosystems such as TRON, Solana, Sui, and Stellar.
The addition of TRON further strengthens THORWallet’s mission to be the most comprehensive, chain-agnostic mobile wallet, connecting millions of users to decentralized liquidity in a single tap.
Recent THORWallet Growth
The TRON integration comes during a period of strong momentum for THORWallet. Over the past months, the platform has seen rapid adoption driven by new cross-chain integrations, rising swap volumes; surpassing $1 billion in cumulative cross-chain swap volume, expanding in app usage, and the rollout of new banking and card features. THORWallet’s user base, transaction activity, and functionality have all grown significantly as more communities discover the power of a mobile-first wallet that unifies DeFi, TradFi, and decentralized interoperability in one seamless experience. With each new chain added, THORWallet continues to establish itself as one of the fastest-growing cross-chain interfaces in the ecosystem.
The Launch of the TITN Token
This momentum coincides with the recent launch of TITN, THORWallet’s ecosystem token, which is a core element of the platform’s cross-chain and rewards infrastructure. TITN powers fee-reduction rewards, with staking rewards paid in USDC, lower fees, and in-app game perks all while keeping users fully self-custodial. The token’s debut on major exchanges has expanded global exposure for THORWallet and accelerated community growth, positioning TITN as a central driver in the next chapter of THORWallet’s multi-chain evolution.
About THORWallet DEX
THORWallet DEX is a non-custodial, mobile-first wallet that empowers users to swap, earn, and invest across multiple blockchains — all while maintaining full control of their keys. Backed by the THORChain protocol and other leading DeFi integrations, THORWallet bridges the gap between decentralized finance and everyday usability.
XRP has jumped almost 26% since November 21, but the move has been quiet because the price keeps getting stuck at one level. Now the structure looks more interesting. Buying pressure on exchanges has surged massively in the past eight days, and the latest bearish hit failed to push the XRP price under support.
XRP is sitting just below the major barrier that has capped every attempt since mid-November. If this level breaks, the entire trend can flip.
Support Intact as the Falling Wedge Holds
XRP price continues to trade inside a falling wedge, a bullish pattern that narrows while the price moves lower. Wedges like this usually break upward once buyers show strength.
The lower band at $2.14 has absorbed every sell attempt since November 25. Even when the bearish crossover between the 100-day and 200-day EMA (Exponential Moving Average) was completed, XRP did not break down. An EMA is a moving average that gives more weight to recent candles, and bearish crossovers normally add pressure. The fact that the price held firm shows that sellers lacked momentum.
At the same time, the XRP price has begun making higher volume pushes. The On-Balance Volume (OBV) line broke above the descending trendline that capped volume since November 10. OBV measures whether volume enters or exits a token. A breakout means more volume is entering the market. This shift often appears just before key resistance breaks.
However, a breakout confirmation is needed. OBV needs to make a higher high by crossing above its immediate resistance level of 6.64 billion.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
To unlock the bullish move, the XRP price still needs a clean close above $2.28. That level has blocked every upside attempt since November 17.
Exchange Outflows Signal Heavy Accumulation
On-chain flow data now supports the bullish case. Exchange net position change — which shows whether tokens are entering or leaving exchanges — flipped deeply negative on November 19. Negative (red) readings mean tokens are leaving exchanges, which signals buying pressure.
On November 19, XRP outflows were about –59.32 million tokens. By November 27, the number hit –650.45 million. That is a surge of almost 1000% in eight days. When outflows rise this fast inside a tight range, it usually means large buyers are accumulating.
This explains why the $2.14 floor never cracked even after the bearish EMA crossover.
Key Levels Decide Whether XRP Price Finally Breaks Out
The range remains narrow. The first and most important level is $2.28. It has been a strong resistance since November 17. If XRP closes above this line with rising volume, the next major target becomes $2.55, which is above the upper trendline of the wedge. A breakout above $2.55 would flip the broader structure bullish and could even confirm trend reversal.
If the XRP price fails and breaks under $2.14, the next support sits near $2.02. Losing that level delays any breakout. However, that would require a surge in selling pressure and mean that the OBV breakout failed to gain momentum.
For now, the setup leans bullish. Buying pressure is up almost 1000%. Volume has started to shift upward. Price continues to defend support. If XRP gains just 2% more and clears $2.28, it can finally break a ceiling that has held for over ten days — and start a new leg higher.
ETF XRP spot mencatat arus masuk bersih kumulatif sebesar US$643,92 juta selama bulan pertama perdagangan, menurut data SoSoValue. Produk ini juga mencapai total aset bersih US$676,49 juta, menangkap 0,50% dari kapitalisasi pasar XRP.
Arus masuk harian tetap positif untuk sebagian besar bulan ini. Sesi terkuat mencakup US$243,05 juta pada 14 November dan US$164,04 juta pada 24 November.
Trading Volume Tetap Kuat Meski Volatilitas Harga XRP
Penerbit terkemuka—Grayscale, Franklin Templeton, Bitwise, dan Canary—bersama-sama mendorong arus masuk yang stabil di bursa AS.
Bersama-sama, keempat dana ini membawa ETF yang disimpan XRP di atas 0,5% dari total pasokan yang beredar, menunjukkan minat awal institusi.
ETF ini menghasilkan total nilai perdagangan US$38,12 juta pada 26 November saja. Volume perdagangan sebelumnya lebih tinggi, bertepatan dengan lonjakan arus masuk yang besar.
Namun, harga pasar XRP tetap fluktuatif. Token ini diperdagangkan sekitar US$2,23 ketika permintaan ETF mengimbangi kelemahan pasar kripto yang lebih luas.
Sementara itu, manajer aset besar lainnya melihat peluang untuk masuk ke perlombaan ETF XRP. 21Shares diperkirakan akan meluncurkan ETF spot mereka pada hari Senin sementara aplikasi WisdomTree masih dalam tinjauan.
Tanda Awal Menunjukkan Permintaan Institusional yang Berkelanjutan
Arus masuk ETF meningkat dalam sembilan dari sepuluh sesi terakhir. Total harian terbaru menunjukkan US$21,81 jutamasuk ke ETF XRP pada 26 November.
Rantai arus masuk ini menunjukkan institusi masih membangun eksposur. Ini juga mengurangi pasokan cair di exchange, ketika kurator ETF memindahkan XRP ke penyimpanan yang diatur.
Arus Masuk Harian ETF XRP | Sumber: SoSoValue
Franklin Templeton mengungkapkan 32,04 juta XRP yang disimpan dalam ETF mereka pada 25 November, menandakan akumulasi yang berkelanjutan.
Pola arus masuk yang stabil dalam bulan pertama ini positif bagi ETF kripto baru dan mencerminkan kejelasan regulasi yang lebih baik untuk produk XRP.
Sementara itu, XRP bukan satu-satunya altcoin yang mendapat persetujuan ETF pekan lalu. Dogecoin, HBAR, dan Litecoin juga mulai diperdagangkan awal bulan ini.
Namun, dana ini tidak mendapat minat berarti dari investor institusi. ETF DogeCoin Bitwise dan Grayscale hanya menarik sekitar US$2 juta dalam arus masuk pada 48 jam pertama perdagangan.
Bitcoin mungkin menunjukkan tanda-tanda pemulihan permintaan pertamanya setelah bulan yang sulit. Coinbase Bitcoin Premium Index (CBPI) — ukuran yang melacak apakah investor AS membayar lebih atau kurang untuk BTC di Coinbase dibandingkan dengan exchange global — hari ini untuk pertama kalinya dalam beberapa minggu kembali positif.
Perubahan ini terjadi bersamaan ketika harga perak melonjak ke posisi tertinggi sepanjang masa di atas US$55/oz, yang menandakan peningkatan minat untuk eksposur aset keras di berbagai pasar.
Apa Artinya Premium Coinbase Menjadi Hijau
Sepanjang bulan November, premi ini hampir sepenuhnya berada di wilayah negatif, mencerminkan permintaan AS yang melemah, keluarnya dana ETF, dan likuiditas yang melemah.
Sekarang, adanya cetakan hijau menunjukkan bahwa pembeli spot AS akhirnya membayar sedikit premium lagi, menandakan bahwa permintaan domestik mulai stabil.
Sederhananya, Coinbase Premium Index membandingkan harga BTC di Coinbase (pasar USD) dengan harganya di exchange global utama (pasar USDT seperti Binance).
Premium positif → Investor AS membeli dengan agresif
Premium negatif → Permintaan AS lebih rendah atau aliran internasional lebih kuat
Netral → Permintaan global seimbang
Perubahan hari ini ke wilayah positif menunjukkan bahwa permintaan spot AS telah membaik untuk pertama kalinya dalam bulan ini, meskipun sentimen yang lebih luas masih berada dalam ketakutan ekstrem.
Ini penting karena pasar AS secara historis memimpin titik perubahan harga BTC — terutama selama transisi likuiditas atau perubahan makro.
Perak mencapai tertinggi sepanjang masa adalah hal yang penting tersendiri. Namun, waktunya bersamaan dengan Coinbase Premium yang baru saja positif menambah lapisan perilaku yang menarik.
Secara historis, korelasi BTC–Perak rendah dan tidak stabil. Korelasi jangka panjang biasanya berada di dekat 0 hingga +0,3. Ini hanya melonjak selama episode ketakutan makro besar, dan runtuh ketika faktor khusus kripto mendominasi.
Saat ini, BTC dan Perak jelas terlepas. Namun, keterlepasan ini menunjukkan sesuatu yang penting
Ketika perak reli dengan kuat sementara Bitcoin berhenti jatuh, sering kali menandakan akhir dari penjualan yang didorong oleh ketakutan.
Pelemahan pasar tenaga kerja AS menjadi variabel risiko utama bagi kripto memasuki Desember dan awal 2026. Pemutusan hubungan kerja yang meningkat, melambatnya perekrutan, dan penurunan kepercayaan konsumen semakin memperkuat ekspektasi pemotongan suku bunga oleh Federal Reserve.
Perubahan ini dapat mempengaruhi Bitcoin dan Ethereum lebih tajam daripada ekuitas karena kondisi likuiditas yang rapuh di seluruh aset digital.
Stres Pasar Tenaga Kerja Tingkatkan Tekanan pada The Fed
Pengumuman pemutusan hubungan kerja meningkat tajam pada bulan Oktober ke tingkat tertinggi sejak 2003. Beberapa perusahaan besar memangkas pekerjaan atau membekukan perekrutan, mencerminkan biaya tarif, restrukturisasi AI, dan ketidakpastian pasca penutupan.
Kepercayaan konsumen juga menurun pada bulan November seiring meningkatnya ketidakamanan pekerjaan.
Alternative data shows US layoffs are surging:
Job cuts tracked by MacroEdge jumped +70,609 MoM in October, to 154,559, the highest in at least 2 years.
Monthly job cuts have now exceeded 100,000 for the 5th time this year.
Namun, klaim pengangguran mingguan tetap rendah. Pasar menafsirkan gambaran yang campur aduk ini sebagai tanda bahwa ekonomi melemah tapi tidak runtuh.
Akibatnya, trader sekarang mengharapkan pemotongan suku bunga sebesar 25 basis poin pada pertemuan bulan Desember. Pasar Futures memprediksi pelonggaran yang signifikan untuk 2026.
Pemotongan di bulan Desember akan menandai perubahan tajam dari sikap The Fed sebelumnya “lebih tinggi lebih lama”. Ini juga akan menjadi sinyal bahwa bank sentral merespons pelemahan pasar tenaga kerja sebelum kerusakan yang lebih meluas terjadi.
Probabilitas Pemotongan Suku Bunga The Fed Untuk Desember | Sumber: CME FedWatch
Pasar Aset Kripto Sangat Sensitif terhadap Sinyal Likuiditas
Dinamika ini terlihat jelas pada bulan November, ketika arus keluar ETF dan tekanan penjualan mendorong Bitcoin turun hampir 30% dari puncaknya di bulan Oktober.
Metrik on-chain kini menunjukkan tanda-tanda stabilisasi. CVD Taker 90 hari telah bergerak dari penjualan terus-menerus ke netral, menunjukkan kelelahan penjual.
Di saat yang sama, pengguna meminjam dengan jaminan Bitcoin daripada menjualnya, yang mengurangi tekanan pasokan langsung namun meningkatkan risiko likuidasi laten.
Reli Desember Mungkin Terjadi, namun Tidak Dijamin
Pemotongan suku bunga pada Desember akan mengurangi imbal hasil riil dan menyuntikkan likuiditas ke aset berisiko. Bitcoin secara historis reli dalam kondisi seperti itu, terutama setelah penurunan tajam.
Beberapa metrik sudah menunjukkan momentum yang membaik. Bacaan Fear and Greed Index naik dari 11 ke 22. Rata-rata Relative Strength Index (RSI) crypto naik menuju 60 setelah menyentuh level oversold di awal bulan. MACD juga berubah positif.
🔴Record layoffs in the US
US companies cut 153,000 jobs in October, 175% more than a year ago. That makes October the worst in 20 years and the rate the highest for the fourth quarter since 2008🗓
Namun, data arus ETF tetap tidak pasti. Bulan November menunjukkan arus keluar yang besar, meskipun hari-hari terakhir menunjukkan arus masuk yang tentatif.
Jika permintaan ETF kembali, likuiditas tipis dapat memperkuat pergerakan naik. Jika arus keluar berlanjut, pasar mungkin kembali ke level terendah baru-baru ini.
Sinyal makro akan mendominasi kripto hingga akhir tahun. Sikap dovish The Fed dapat memicu reli seperti 2023.
Sikap hawkish dapat melemahkan pemulihan saat ini dan memperkuat tren bearish yang terlihat pada bulan November.
Binance Bitcoin & Ethereum Exchange Inflow Value Is Structurally Elevated
“This often aligns with phases of rotation rather than pure accumulation. Large players move size onto the exchange, giving the market more room for distribution.” – By @TeddyVisionpic.twitter.com/wnpOWkyhPL
Januari 2026 Nampaknya Membawa Risiko Volatilitas Tambahan
Meski kripto reli pada Desember, Januari tetap tidak pasti. Laporan pekerjaan gabungan Oktober–November tiba pada 16 Desember. Rilis ini mungkin mengkonfirmasi tekanan tenaga kerja yang lebih dalam yang belum tertangkap dalam data mingguan.
Jika pemutusan hubungan kerja meningkat pada Januari, aset berisiko bisa melemah. Pasar dapat menafsirkan penurunan tenaga kerja sebagai tanda resesi.
Dalam skenario itu, pemotongan suku bunga mungkin tidak mengimbangi aversi risiko yang meluas. Bitcoin sering bereaksi lebih dulu dalam kondisi seperti itu karena profil likuiditasnya.
Sebaliknya, jika laporan menunjukkan kelemahan moderat dengan pertumbuhan upah yang stabil, pasar mungkin memperkirakan pelambatan yang terkendali.
Ini dapat mendukung kelanjutan reli Desember hingga awal 2026. Dalam kedua kasus, kondisi likuiditas akan memengaruhi besarnya fluktuasi harga.
Dengan momentum yang membaik dan likuiditas yang masih tipis, pasar tetap siap untuk pergerakan signifikan. Arah akan ditentukan oleh bagaimana Federal Reserve merespons tekanan pasar tenaga kerja yang meningkat dan bagaimana investor menafsirkan sinyal ekonomi yang lebih luas dalam minggu-minggu mendatang.
Pasar aset kripto tetap datar pada hari Jumat saat Bitcoin bertahan dalam jangkauannya, tapi akhir pekan mungkin tidak akan setenang ini. Tiga setup muncul sebagai altcoin jelas yang harus diperhatikan akhir pekan ini, masing-masing karena alasan berbeda.
Satu token mencoba memicu perubahan sentimen setelah berminggu-minggu mengalami kerugian. Token lain berjuang untuk mempertahankan tren naiknya. Dan satu lagi telah bergerak melawan pasar yang lebih luas selama beberapa hari dan dapat mengejutkan lagi. Dengan Bitcoin yang masih terhambat, ketiga token ini dapat memandu sebagian besar aksi jangka pendek.
Balancer (BAL)
Balancer adalah salah satu altcoin yang lebih sensitif untuk diperhatikan akhir pekan ini, setelah eksploitasi pada 3 November lalu. Token ini turun hampir 47% antara akhir Oktober dan 22 November karena kepercayaan yang rusak.
Sekarang, proyek berencana untuk mengembalikan sekitar US$8 juta dana yang telah dipulihkan, yang mungkin membawa sedikit dorongan sentimen.
A new discussion is now live on the Balancer Forum for feedback, outlining a suggested framework for redistributing assets recovered during the recent attacks on v2, including both whitehat rescues and internal recovery efforts.
Dari perspektif harga, BAL masih diperdagangkan di dalam pola falling wedge, yang merupakan struktur bullish jika garis bawah bertahan. Support di sekitar US$0,62 telah bertahan kuat selama beberapa hari. Level penting pertama adalah US$0,73.
Penutupan di atasnya akan mematahkan wedge dan membuka jalan menuju US$0,84. Jika momentum meningkat, zona berikutnya berada di dekat US$0,99, tempat sebagian besar penurunan dimulai.
Indikator Bull Bear Power, yang menunjukkan apakah pembeli atau penjual mengendalikan harga, telah mencetak bar merah yang menyusut sejak 26 November. Bar merah berarti bear mengendalikan; bar yang menyusut berarti kekuatan mereka memudar.
Penurunan tekanan bearish ini sejalan dengan support pada wedge dan sentimen yang bangkit setelah update kompensasi.
Jika sentimen bertahan dan pasar tetap stabil, BAL bisa menjadi salah satu pergerak akhir pekan yang lebih reaktif.
Ingin wawasan token lebih lanjut seperti ini? Daftar ke Buletin Harian Crypto Editor Harsh Notariya di sini.
Zcash (ZEC)
Zcash tetap dalam daftar altcoin untuk diperhatikan akhir pekan ini karena tren naik yang panjang masih utuh, namun tekanan meningkat. Token ini telah naik lebih dari 1000% dalam tiga bulan, tapi turun sekitar 25% dalam tujuh hari terakhir, menunjukkan bahwa momentumnya melambat. Pertanyaan utama bagi trader adalah apakah ZEC dapat bertahan dalam tren naik.
Ada tanda awal bahwa itu mungkin.
Antara 11 November dan 20 November, ZEC membentuk higher low di grafik harga sementara RSI (Relative Strength Index) — indikator momentum — membuat lower low. Ini disebut hidden bullish divergence.
Ini berarti tren tetap kuat di bawahnya, meskipun koreksi tampak berat. Pola serupa muncul antara 30 Oktober dan 11 November, dengan ZEC reli hampir 74% segera setelahnya.
Ketika harga bertahan lebih tinggi sementara RSI turun lebih rendah, itu sering menandakan kelanjutan di pasar yang kuat.
Untuk kasus ini terjadi lagi, ZEC harus kembali ke US$582, yang telah menghalangi setiap upaya sejak 23 November. Jika pembeli menembus level tersebut, penghalang besar berikutnya berada di US$743. Penutupan di atas US$743 akan mengonfirmasi bahwa tren naik kembali mengendalikan.
Jika ZEC turun di bawah US$440, hidden bullish divergence terputus. Itu berarti telah terbentuk lower low, dan tren jangka pendek menjadi rapuh. Dalam kasus itu, setup akhir pekan melemah, dan ZEC kehilangan sinyal kelanjutannya.
Untuk saat ini, Zcash masih mempertahankan struktur yang lebih bersih daripada kebanyakan aset dan tetap menjadi salah satu altcoin teknikal yang harus diperhatikan akhir pekan ini, selama US$440 tetap utuh.
Pi Coin (PI)
Pi Coin adalah nama terakhir dalam daftar altcoin untuk diperhatikan akhir pekan ini, dan mendapatkan posisi itu karena satu alasan: ia terus bergerak melawan pasar. Sementara Bitcoin turun sekitar 19% dan Ethereum turun 24% selama sebulan terakhir, Pi Coin hanya turun 7%. Itu menunjukkan ketahanan yang jelas. Selama tujuh hari terakhir, PI naik lebih dari 12%, menjadikannya salah satu dari sedikit yang terus meningkat di pasar yang lemah.
Grafik sekarang menunjukkan mengapa Pi Coin layak untuk dilacak.
Crossover bullish sudah mendekat. EMA 20 hari sedang naik menuju EMA 50 hari. EMA adalah rata-rata bergerak yang memberikan bobot lebih pada candle terbaru. Ketika EMA yang lebih pendek melintasi di atas EMA yang lebih panjang, itu sering menandakan peningkatan momentum.
Jika crossover ini selesai, Pi Coin bisa mencoba mereklamasi satu level yang belum bisa dilampaui sejak akhir Oktober: US$0,295.
Penutupan bersih di atas US$0,295 akan mengonfirmasi kekuatan. Langkah ini memerlukan hampir 15% dari level saat ini, namun Pi Coin sudah menunjukkan kemampuannya untuk mengungguli saat pasar melambat.
Tingkat support berada dekat. Garis pertama ada di US$0,252, yang berada tepat di bawah harga saat ini. Jika itu ditembus, support berikutnya adalah US$0,232 dan US$0,220. Di bawah itu, penurunan lebih dalam dapat membuka peluang ke US$0,209, terutama jika bullish crossover gagal diselesaikan.
Prospek ETF Zcash mendorong reli Zcash yang mengejutkan pasar aset kripto dalam 3 bulan terakhir. Kenaikan harga ini merupakan salah satu yang terkuat tahun ini, meskipun Zcash sebelumnya banyak di anggap sebagai proyek buntu oleh sebagian besar komunitas.
Secara khusus, reli Zcash berperan penting dalam menempatkan teknologi privasi di garis depan percakapan dalam komunitas kripto. Ini memicu minat yang meningkat pada koin privasi lain (Monero, Dash) dan protokol seperti Railgun.
ZEC Meroket 10 Kali Lipat
ZEC, yang memulai Oktober dengan harga sekitar US$73, reli sampai US$736 pada 7 November, memberikan pengembalian lebih dari 10x hanya dalam lebih dari 2 bulan. Selama lonjakan ini, ZEC meroket naik dalam peringkat kapitalisasi pasar kripto, dan saat ini berada di peringkat ke-15.
Setelah mencapai puncak US$736, harga Zcash melakukan dua kali percobaan untuk mencapai titik tertinggi baru, namun keduanya gagal. Percobaan pertama hampir menyamai puncak US$736, sedangkan yang kedua berakhir di sekitar US$712, mengarah pada koreksi lebih dalam ke level US$500, yang saat ini menjadi fokus pasar ZEC.
Kenaikan harga juga memicu peningkatan aktivitas on-chain, karena analis di OurNetwork mencatat bahwa Zcash baru-baru ini mencatat minggu teraktif tahun 2025, dengan lonjakan 197% dari minggu ke minggu dalam transaksi transfer.
Mengapa Zcash Bisa Reli ke US$1.000 dan Lebih
Kita baru-baru ini melihat beberapa perkembangan yang menunjukkan reli Zcash sepertinya bisa terus berlanjut, menembus resistance tepat di atas US$700.
Prediksi harga Zcash dari CoinCodex mendukung skenario ini, dengan memperkirakan bahwa Zcash akan mencapai level harga US$1.000 pada kuartal kedua tahun 2026.
Berikut adalah beberapa faktor kunci yang bisa membantu ZEC benar-benar mencapai target yang di prediksi tersebut.
Grayscale ajukan untuk ubah trust ZCSH menjadi ETF
Manajer aset kripto Grayscale telah mengajukan pernyataan pendaftaran S-3 kepada regulator sekuritas AS SEC. Tujuannya adalah mengonversi produk Grayscale Zcash Trust menjadi ETF spot. Grayscale Zcash Trust, yang saat ini di perdagangkan di pasar OTC, telah tersedia sejak 2017.
Dalam pengajuannya, Grayscale menyoroti perbedaan antara Zcash dan Bitcoin:
“Perbedaan mendasar antara Bitcoin dan Zcash adalah Zcash menawarkan fitur privasi terpilih. Zcash mencapai pelestarian privasi ini dengan menggunakan protokol kriptografi baru yang disebut Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (“zk-SNARKs”) untuk melindungi jumlah serta pengirim dan penerima transaksi.”
Mengingat gelombang persetujuan altcoin ETF saat ini, tidak akan terlalu mengejutkan jika ETF Zcash di setujui untuk di perdagangkan di pasar AS. Namun, perlu di ingat bahwa fokus Zcash pada privasi dapat membuat lebih sulit untuk meyakinkan regulator. Saat ini, belum ada satu pun ETF di pasar AS yang fokus pada koin privasi.
Sumber kemungkinan lainnya dari momentum bullish untuk Zcash adalah Cypherpunk Technologies. Perusahaan DAT (digital asset treasury) yang berfokus pada Zcash dan di dukung oleh Winklevoss Twins.
Cypherpunk, yang di perdagangkan dengan kode saham CYPH, kini memiliki 233.644 ZEC dan berencana untuk mengakuisisi 5% dari total pasokan. Mengingat mereka saat ini memiliki sekitar 1,4% dari pasokan, Cypherpunk dapat memberikan tekanan beli yang konsisten. Perusahaan ini sejauh ini telah menghabiskan sekitar US$68 juta untuk meningkatkan treasury Zcash mereka.
Sekarang lebih mudah dari sebelumnya untuk trading dan investasi Zcash
Wallet Zashi terintegrasi dengan NEAR Intents, memungkinkan pengguna untuk dengan mudah menukar aset kripto dari berbagai blockchain untuk ZEC. Wallet ini juga memberikan akses mudah ke fitur privasi Zcash dengan menyederhanakan pengalaman shielding.
Supply ZEC yang terlindung telah mencapai hampir 5 juta koin (sebelumnya di bawah 2 juta pada awal 2025). Ketika lebih banyak ZEC menjadi terlindung, set anonimitas tumbuh, memperkuat privasi keseluruhan Zcash.
Platform perdagangan terdesentralisasi terkemuka, Hyperliquid, telah melakukan listing ZEC perpetual futures. Hal ini memungkinkan pengguna DEX yang banyak di gunakan untuk mengambil posisi dengan leverage dalam aset yang berfokus pada privasi ini.
Bagaimana pendapat Anda tentang analisis Zcash ((ZEC) di atas? Yuk, sampaikan pendapat Anda di grup Telegram kami. Jangan lupa follow akun Instagram dan Twitter BeInCrypto Indonesia, agar Anda tetap update dengan informasi terkini seputar dunia kripto!
Sebuah laporan kongresional menuduh bahwa pemerintahan Trump menghasilkan lebih dari US$800 juta dari usaha aset kripto di awal tahun 2025.
Laporan tersebut mengklaim bahwa total aset kripto milik keluarga Trump naik menjadi US$11,6 miliar, dan menuduh bahwa aktor asing serta entitas yang terkait dengan negara berinvestasi dalam proyek keluarga tersebut sebagai imbalan untuk keuntungan kebijakan.
Usaha Kripto dan Investasi Asing
Pada tanggal 25 November 2025, Komite Kehakiman House dari Partai Demokrat merilis temuan ini. Mereka menuduh bahwa Presiden Trump menggunakan posisinya untuk meningkatkan kepentingan kripto keluarganya sambil mengurangi penegakan hukum dan menghentikan investigasi federal ke industri tersebut.
Laporan dari Rep. Jamie Raskin menjelaskan akumulasi miliaran oleh keluarga Trump melalui skema kripto yang didorong oleh investasi asing dan perubahan regulasi.
Proyek keluarga Trump termasuk World Liberty Financial (WLF), token governance WLFI, stablecoin USD1, dan TRUMP meme coin. Usaha ini menarik investasi yang signifikan dari warga asing dan entitas yang terhubung dengan pemerintah asing.
Dugaan:
Penjualan token WLFI menghasilkan US$550 juta pada Maret 2025,
Stablecoin USD1 mencapai kapitalisasi pasar sebesar US$2,7 miliar.
TRUMP meme coin menghasilkan US$350 juta dari biaya perdagangan dan mencapai harga puncak US$75 sebelum mengalami penurunan tajam.
World Liberty Financial didirikan bersama oleh Eric Trump, Donald Trump Jr., dan Barron Trump, bersama dengan mitra bisnis Zach dan Andrew Witkoff, menurut dokumen dari Komite Jasa Keuangan House.
We are thrilled to invest $30 million in World Liberty Financial @worldlibertyfi as its largest investor. The U.S. is becoming the blockchain hub, and Bitcoin owes it to @realDonaldTrump! TRON is committed to making America great again and leading innovation. Let's go! pic.twitter.com/cISTsVYP1f
Investor besar lainnya, yang diduga terkait dengan entitas negara Cina dan keluarga kerajaan UEA, adalah Guren Bobby Zhou, Aqua 1, MGX, dan DWF Labs.
Penyelidikan mengidentifikasi BUMN Cina CNPC dan entitas UEA, termasuk yang terkait dengan Sheikh Tahnoon, sebagai kontributor utama proyek Trump.
Laporan tersebut menguraikan skema bayar untuk akses yang melibatkan kontes makan malam TRUMP meme coin, yang mengumpulkan US$148 juta.
Pembeli teratas diberikan akses ke pertemuan Gedung Putih dan lapangan golf, dengan beberapa pemenang adalah warga negara asing. Selain itu, Trump Media & Technology Group mengungkapkan kepemilikan bitcoin treasury sebesar US$2,5 miliar, memperdalam keterkaitan keluarga ini dengan kepemilikan aset kripto.
Penurunan Regulasi dan Tindakan Penegakan
Pemerintahan Trump menerapkan perubahan besar dalam regulasi aset digital. Pada Januari 2025, Presiden Trump mencabut Perintah Eksekutif 14178, kebijakan utama era Biden.
Pada bulan Maret, sebuah Cadangan Kripto Strategis dibentuk, menandai perubahan signifikan dalam cara pemerintah federal menangani aset kripto.
Pada April 2025, Departemen Kehakiman membubarkan Tim Penegakan Kripto Nasional (NCET). Wakil Jaksa Agung Todd Blanche mengeluarkan memorandum resmi yang memerintahkan pembubaran segera unit khusus ini.
Tindakan ini mengakhiri “regulasi dengan penuntutan” dalam penegakan hukum terhadap aset kripto. Bagian Kejahatan Komputer dan Kekayaan Intelektual tetap beroperasi, namun tim penegakan khusus dihilangkan.
Gugatan dan tindakan penegakan oleh SEC dan DOJ yang menarget perusahaan kripto besar dengan koneksi politik dihentikan. Perusahaan yang diuntungkan termasuk Coinbase, Gemini, Robinhood, Ripple, Crypto.com, Uniswap, Yuga Labs, dan Kraken.
Pada Februari 2025, SEC memutuskan bahwa meme coin bukanlah sekuritas, mengakhiri pengawasan terhadap aset digital ini.
Menurut laporan ini, pengampunan dan pembalikan sanksi ini secara langsung menguntungkan pendukung proyek Trump.
Kekhawatiran Konstitusional dan Hukum
Penyelidik kongres memperingatkan bahwa situasi ini menyoroti kelemahan mendasar dalam hukum anti-korupsi, pembiayaan kampanye, dan konflik kepentingan di AS.
Laporan itu mempertanyakan apakah Klausul Emolumen Asing, yang melarang pejabat federal menerima hadiah atau pembayaran dari pemerintah asing tanpa persetujuan kongres, dilanggar.
Para pembuat undang-undang berpendapat bahwa undang-undang yang ada tidak cukup untuk mencegah konflik kepentingan dan pengaruh asing dalam sektor kripto.
Rangkaian perubahan kebijakan dan inisiatif bisnis ini memicu kekhawatiran di kalangan penyelidik. World Liberty Financial mengumumkan stablecoin USD1 tak lama setelah Trump mendukung GENIUS Act, sebuah undang-undang penting tentang stablecoin yang dipercepat melalui kongres pada tahun 2025.
Laporan staf lengkap ini mencakup garis waktu yang menunjukkan kebijakan yang ditarik, akses, dan peristiwa investasi.
Penyelidikan ini mengandalkan pelaporan dari saluran TradFi dan aset kripto untuk memverifikasi angka yang dilaporkan dan tindakan kebijakan.
Dokumen ini mencatat bagaimana oposisi terhadap kripto sebelumnya berubah menjadi dukungan aktif industri seiring masuknya uang ke saluran kampanye dan bisnis keluarga selama dan setelah kampanye tahun 2024.
Possible second order effects from Trump's win:
• BTC becomes a US strategic reserve asset • New regulatory regime will make it much easier for tokens to capture value from their protocols • Token classification framework could shift from "most tokens are securities" to… pic.twitter.com/Yar5Lk1yuG
Demokrat di Komite Kehakiman DPR menyerukan reformasi kongres yang mendesak dengan mengungkapkan skala pengayaan diri dan pengaruh asing melalui mata uang kripto yang belum pernah terjadi sebelumnya.
Laporan ini menekankan risiko keamanan nasional, hukum, dan etika yang disebabkan oleh uang asing dan korporat yang melewati perlindungan anti-korupsi.
Masih belum jelas apakah tuduhan ini akan menghasilkan undang-undang baru atau penyelidikan lebih lanjut seiring perdebatan politik yang terus berlanjut.
XRP telah melonjak hampir 26% sejak 21 November, namun pergerakannya sepi karena harga terus terjebak di satu level. Kini struktur terlihat lebih menarik. Tekanan beli di exchange telah meningkat pesat dalam delapan hari terakhir, dan serangan bearish terbaru gagal mendorong harga XRP di bawah support.
XRP berada tepat di bawah penghalang utama yang telah membatasi setiap usaha sejak pertengahan November. Jika level ini ditembus, seluruh tren bisa berbalik arah.
Support Tetap Utuh saat Falling Wedge Bertahan
Harga XRP terus diperdagangkan dalam falling wedge, pola bullish yang menyempit seiring harga bergerak lebih rendah. Wedges seperti ini biasanya breakout ke atas setelah pembeli menunjukkan kekuatan.
Garis bawah di US$2,14 telah menyerap setiap upaya jual sejak 25 November. Bahkan ketika crossover bearish antara 100 hari dan 200 hari EMA (Exponential Moving Average) selesai, XRP tidak mengalami breakdown. EMA adalah rata-rata bergerak yang memberikan bobot lebih pada candle terbaru, dan crossover bearish biasanya menambah tekanan. Fakta bahwa harga tetap kuat menunjukkan bahwa penjual kurang bertenaga.
Di saat yang sama, harga XRP mulai terdorong oleh volume yang lebih tinggi. Garis On-Balance Volume (OBV) menembus di atas garis tren menurun yang membatasi volume sejak 10 November. OBV mengukur apakah volume masuk atau keluar dari sebuah token. Breakout menunjukkan lebih banyak volume memasuki pasar. Pergeseran ini sering terlihat sebelum resistance kunci ditembus.
Namun, konfirmasi breakout diperlukan. OBV perlu mencapai level tertinggi lebih tinggi dengan melampaui level resistance segera di angka 6,64 miliar.
Ingin lebih banyak wawasan tentang token seperti ini? Daftar untuk Newsletter Harian Kripto dari Editor Harsh Notariya di sini.
Untuk membuka gerakan bullish, harga XRP masih perlu menutup di atas US$2,28. Level tersebut telah menghalangi setiap usaha ke atas sejak 17 November.
Outflow Exchange Tunjukkan Akumulasi Besar
Data arus on-chain kini mendukung kasus bullish. Perubahan posisi bersih exchange — yang menunjukkan apakah token masuk atau keluar dari exchange — berbalik sangat negatif pada 19 November. Pembacaan negatif (merah) berarti token keluar dari exchange, yang menunjukkan tekanan beli.
Pada 19 November, outflow XRP sekitar –59,32 juta token. Pada 27 November, angka tersebut mencapai –650,45 juta. Itu adalah lonjakan hampir 1000% dalam delapan hari. Ketika outflow naik secepat ini dalam jangkauan yang sempit, biasanya berarti pembeli besar sedang mengakumulasi.
Ini menjelaskan mengapa level US$2,14 tidak pernah retak meskipun setelah crossover EMA bearish.
Level Kunci Tentukan Apakah Harga XRP Akhirnya Breakout
Rentangnya tetap sempit. Level pertama dan paling penting adalah US$2,28. Ini telah menjadi resistance yang kuat sejak 17 November. Jika XRP menutup di atas garis ini dengan volume yang meningkat, target besar berikutnya adalah US$2,55, yang berada di atas garis tren atas wedge. Breakout di atas US$2,55 akan membalikkan struktur lebih luas menjadi bullish dan bahkan bisa mengonfirmasi pembalikan tren.
Jika harga XRP gagal dan menembus di bawah US$2,14, support berikutnya berada di dekat US$2,02. Kehilangan level itu menunda breakout apa pun. Namun, itu akan membutuhkan lonjakan tekanan jual dan berarti bahwa breakout OBV gagal mendapatkan momentum.
Saat ini, setup cenderung bullish. Tekanan beli naik hampir 1000%. Volume mulai bergerak naik. Harga terus mempertahankan support. Jika XRP naik hanya 2% lagi dan melewati US$2,28, itu akhirnya bisa menembus batas yang telah bertahan selama lebih dari sepuluh hari — dan memulai langkah baru ke atas.
Pada pukul 03:00 GMT tanggal 28 November 2025, kegagalan sistem pendingin menghentikan 90% perdagangan derivatif global setelah mesin-mesin di pusat data CyrusOne di Illinois mengalami overheat. Ini menyebabkan sistem CME Group terhenti.
Gangguan teknis ini mengungkapkan kerentanan kritis dalam infrastruktur keuangan. Kapasitas pendingin fisik, bukan komputasi atau ancaman siber, tiba-tiba menjadi titik lemah bagi operasi pasar global.
Kegagalan Sistem Pendingin Hentikan Perdagangan Global
CME Group mengonfirmasi bahwa semua pasar terhenti akibat kegagalan pendingin di pusat data CyrusOne. Exchange ini, yang mengelola sekitar 30 juta kontrak setiap hari, menghentikan operasi di seluruh platform Globex. Pasar futures treasury, energi, dan pertanian terhenti dari Chicago hingga Kuala Lumpur.
Due to a cooling issue at CyrusOne data centers, our markets are currently halted. Support is working to resolve the issue in the near term and will advise clients of Pre-Open details as soon as they are available.
Gangguan ini bukan disebabkan oleh serangan siber atau intervensi pasar. Sistem pendingin gagal menghilangkan panas dari perangkat kerasnya. Saat server mengalami overheat, sistem perlindungan mematikan infrastruktur untuk mencegah kerusakan serius.
Bagi para trader, gangguan mendadak ini sangat mengejutkan. Emas mengalami dua penurunan tajam masing-masing US$40 sebelum pulih, sementara perak turun sekitar US$1 dalam hitungan menit dari penghentian tersebut.
Gold (XAU) dan Silver (XAG) Kinerja Harga. Sumber: TradingView
Pergerakan ini nampaknya tidak berhubungan dengan penjualan pasar biasa, meningkatkan spekulasi tentang isu sistemik atau intervensi pasar.
Pemerhati pasar mencatat bahwa pemberhentian ini bertepatan dengan emas dan perak mendekati potensi breakout.
Penurunan terkoordinasi dalam logam mulia ini meningkatkan keraguan apakah gangguan ini murni teknis.
Batas Termodinamika Tantang Sistem Keuangan
Kejadian ini menyoroti tantangan mendesak bagi keuangan global. Pada 2024, pusat data AS mengkonsumsi 183 terawatt-jam listrik, lebih dari 4% pemakaian nasional, setara dengan permintaan listrik tahunan Pakistan. Proyeksi menunjukkan angka ini akan lebih dari dua kali lipat menjadi 426 terawatt-jam pada 2030.
Beban kerja AI mendorong permintaan energi tahunan hampir 30%. Panas fisik yang dihasilkan oleh komputasi harus dikeluarkan secara efisien.
Infrastruktur CME, yang dibangun untuk penggunaan tahun 2015, kini menghadapi tuntutan komputasi yang jauh lebih tinggi pada tahun 2025.
“CME Group, yang menetapkan harga dari obligasi Treasury hingga minyak mentah hingga S&P 500, gelap karena mesin yang menjalankan keuangan global melampaui batas termal mereka. Panas yang dihasilkan oleh komputasi melampaui kapasitas untuk menolaknya. Ini bukan gangguan. Ini adalah peringatan struktural,” tulis Shanaka Anslem dalam sebuah postingan.
Penting dicatat, CME Group menjual pusat data yang terdampak pada 2016 dan menyewanya kembali dari CyrusOne. Ketika pendinginan gagal, exchange ini tidak memiliki dan mengendalikan apapun, menunggu seperti klien agar penyedia pihak ketiga memulihkan kapasitas.
Sentralisasi ini menciptakan titik kegagalan tunggal yang signifikan. Hal ini mengingatkan pada gangguan Cloudflare baru-baru ini, yang juga menyoroti masalah sentralisasi dalam Web3.
Beberapa kritikus percaya infrastruktur pasar saat ini tidak cocok dengan tuntutan modern. Penemuan harga global bergantung pada server terpusat yang bisa saja terkena batas fisik.
First CME “glitches” when Silver was about to break out. Later #Gold prints a $40 liquidation wick twice and instantly recovers both times. That’s not real selling. That’s market plumbing under maximum stress. https://t.co/3vyRiRSMTMpic.twitter.com/VnJUJvCDo5
Sekarang, kemampuan penolakan panas menentukan batasan sebenarnya untuk transaksi pasar, bukan hanya efisiensi perangkat keras atau perangkat lunak.
Apa yang Sebenarnya Terjadi? Narasi yang Bersaing dan Implikasi Pasar
Dua penjelasan utama muncul. Cerita resmi menyebutkan malfungsi pendingin di fasilitas CyrusOne.
Menurut Pusat Komando Global CME Group, tim dengan cepat bekerja untuk memperbaiki masalah termal dan memulihkan perdagangan.
Namun, banyak trader masih ragu. Kritikus menunjukkan bahwa hanya mesin pencocokan CME yang terpengaruh, meskipun banyak klien menggunakan pusat data CyrusOne yang sama.
Jika kegagalan pendinginan bersifat menyeluruh, harusnya lebih banyak sistem yang terhenti. Gangguan yang ditargetkan ini memicu keraguan tentang gangguan yang murni tidak sengaja.
Analis pasar mempertanyakan mengapa hanya sistem CME yang terpengaruh jika kegagalan pendinginan bersifat menyeluruh
Beberapa analis menyarankan waktu dan selektifitasnya menunjukkan penghentian yang terkontrol daripada malfungsi acak.
The official story gets stranger by the hour. If the outage was truly a “cooling issue”, we’d see it across multiple CyrusOne clients — not only on CME’s matching engine during a vertical move.
When media starts adding vague “context” instead of facts, you know the narrative is… pic.twitter.com/2Ks5zaxgx0
Pergerakan tajam dalam logam mulia sebelum dan selama gangguan menyulut spekulasi tentang intervensi atau manajemen krisis.
Terlepas dari penyebab yang mendasarinya, peristiwa ini menunjukkan risiko sistemik.
CME Group mencatat volume rekor di berbagai kelas aset, termasuk derivatif mata uang kripto. Pada Oktober 2025, volume harian rata-rata kripto melonjak 226%, dengan Micro Ether futures naik 583% menjadi 222.000 kontrak. Peningkatan skala memperbesar kerentanan infrastruktur.
Meskipun peningkatan ini terjadi selama perdagangan liburan yang tenang, kegagalan serupa selama tekanan pasar dapat meningkatkan risiko sistemik.
Bahkan penutupan singkat dalam penemuan harga global bisa menyebabkan ketidakpastian dan volatilitas yang memicu efek beruntun di pasar terkait.
Infrastruktur keuangan kini dibatasi oleh realitas termodinamika. Distribusi yang lebih baik, redundansi, dan desain ulang arsitektur mungkin diperlukan untuk mencegah insiden di masa depan.
Pertanyaan utamanya adalah apakah industri akan beradaptasi secara proaktif atau dipaksa bereaksi setelah gangguan lebih lanjut.
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