South Korea’s top payment platform and largest cryptocurrency exchange are set to merge, with board approvals expected on Wednesday and a public announcement planned for the next day.

This agreement will combine Naver Financial and Dunamu, the operator of Upbit, to form a powerful player that bridges traditional finance and digital assets in one of Asia’s largest economies.

Merger Timeline and Structure

The boards of both companies plan to meet on November 26 to approve the merger. After that, a joint announcement is expected on November 27. According to local media reports, top executives will attend a press conference at Naver’s campus.

The transaction will involve a complete stock exchange, making Dunamu a wholly owned subsidiary of Naver Financial. Current estimates value Naver Financial at about KRW 5 trillion and Dunamu at KRW 15 trillion. This difference suggests a 1:3 share exchange ratio.

Dunamu’s shareholders will exchange their stakes for shares in Naver Financial, and its principal holders are likely to take nearly 30% of the combined company. At the same time, Naver’s stake will decline from 69% to 17%, but operational control is expected to stay with Naver, one of South Korea’s top tech giants.

To comply with the country’s fair trade laws, Dunamu may assign over half of its voting rights to Naver. This step intends to address market concentration concerns while preserving the strategic advantages of the deal.

Strategic Outlook for the Combined Entity

This merger unites two complementary leaders in South Korea’s financial sector. Naver Financial runs the country’s most popular payment platform with strong ties to Naver’s e-commerce, search, and communication services. Dunamu dominates cryptocurrency trading through Upbit, processing billions in daily trading volume and serving millions of users.

The combined company seeks to create a comprehensive financial ecosystem that erases boundaries between traditional payments and digital assets. Their leaders expect to stress plans to compete with global tech giants. This strategy highlights the need for Korean fintech firms to scale and remain competitive beyond their home market.

Naver’s large user base and strong technology platform could accelerate the adoption of crypto among mainstream consumers. In return, Dunamu’s blockchain experience and regulatory know-how may boost Naver Financial’s edge in new financial technologies.

Regulatory Review and Future Impact

The proposed merger is under scrutiny by regulators. South Korea’s Financial Supervisory Service and Fair Trade Commission must both review the deal. The FSS will assess financial risk, especially the impact of combining a licensed payment platform with a virtual asset exchange. Regulators have long separated these sectors to prevent systemic risk.

Shareholder protection is another primary concern. With Naver’s stake falling below 20%, questions arise about governance and minority rights. Regulators will likely examine whether the agreement protects existing investors in both firms.

Competition authorities face a complex decision. While executives claim the merger is needed to compete globally, the Fair Trade Commission must determine whether it unfairly concentrates control over South Korea’s payment network and its largest cryptocurrency exchange. The review will focus on possible effects on market competition and consumer choice.

Approval will take months. Both companies must show that the merger’s benefits outweigh any risks to financial stability or fair competition. The decision could set a precedent for how traditional finance and digital assets may merge in South Korea and across Asia in the future.

The post Upbit Operator to Announce Merger with Korean Tech Giant Naver This Week appeared first on BeInCrypto.

A well-known Polish market analyst has publicly apologized after his latest Bitcoin outlook collapsed within weeks, sparking debate across social media.

Robert Ruszała, known online as El Profesor, admitted his plan was wrong and published a detailed breakdown explaining the mistakes behind his failed scenario.

Analyst Breaks Industry Norm by Owning His Error

Crypto commentators often highlight their wins and stay silent when predictions miss. Ruszała took the opposite approach.

He originally released a forecast called “The Plan,” outlining a bullish path for Bitcoin based on market fractals, the 50-week EMA, and a seasonal move often described as the “Santa Rally.”

According to his model, Bitcoin was expected to hold its uptrend and provide opportunities to take long positions at specific technical levels.

Market Reversal Forces a Reassessment

However, it took the market only three weeks to dismiss that vision. Bitcoin dropped below key zones and invalidated the entire bullish structure.

On 21 November, Ruszała addressed the failed call directly, writing:
“I failed… I’m sorry to everyone who followed this plan. I know where I made the mistake.”

He later explained that he always prepares two scenarios — bullish and bearish. The first one worked from roughly $116,000 down to $94,700. The deeper decline activated his bearish outlook.

He stressed that reacting to market changes matters more than sticking to a single direction.

What Went Wrong in “The Plan”

Ruszała then published a technical breakdown of the error. He pointed to several indicators that he ranked incorrectly in terms of probability.

That mis-ordering, he said, led him to misjudge Bitcoin’s potential movement.

The post did not spark major controversy, but it prompted discussion among traders. Several users praised him for his transparency, noting that few analysts publicly dissect their own mistakes.

His response highlights a broader reality in crypto markets: even well-constructed scenarios require constant revision, and the market can still surprise the most seasoned experts.

The post Polish Crypto Analyst Apologizes After Bitcoin ‘Santa Rally’ Forecast Fails appeared first on BeInCrypto.

Ethereum has struggled to recover from its recent dip, with the altcoin king attempting to regain momentum after slipping below key levels. While ETH has strong support from long-term holders, the recovery still requires fresh investment. 

That inflow of new capital, however, appears limited at the moment, creating uncertainty around Ethereum’s next move.

Ethereum Holders Have Mixed Feelings

The HODLer Net Position Change indicator is showing a steady incline, signaling improving confidence among long-term holders. This metric measures the movement of ETH within LTH wallets, and the current rise from the negative zone suggests that outflows are slowing. Historically, a shift like this often precedes renewed accumulation.

As long-term holders reduce selling, the market gains stability. Their conviction in Ethereum’s recovery strengthens the asset’s foundation even during volatile conditions.

If this trend continues, LTHs may soon transition from holding to accumulating, providing meaningful support for ETH’s next upward push.

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Despite improving sentiment from long-term holders, broader macro momentum remains mixed. The number of new Ethereum addresses is moving sideways, indicating weak interest from potential new investors.

This stagnation is concerning because fresh demand is a critical component of sustained price recovery.

Without an increase in new market participants, inflows may not be strong enough to propel ETH toward the $3,000 mark. Even with solid support from existing holders, a lack of external capital could delay or weaken any meaningful rally. 

ETH Price Needs To Recover

Ethereum is trading at $2,814, sitting directly beneath a key resistance level. At this distance, ETH is just 6.6% away from reclaiming $3,000, a psychologically significant barrier for both traders and long-term investors.

For Ethereum to reach this threshold, support from new investors is essential. If new demand remains weak, ETH may consolidate below $3,000 as existing capital alone may not be sufficient to drive an extended rally. The altcoin king needs broader participation to sustain a breakout.

If inflows improve and new investors re-engage, Ethereum could rally to $3,000 and attempt to flip the level into support. Successfully reclaiming this zone may pave the way for $3,131 or higher. This would invalidate the bearish outlook and restore bullish momentum.

The post Ethereum’s Recovery to $3,000 Could Be Challenged by New Holders appeared first on BeInCrypto.

Bitwise Chief Investment Officer Matt Hougan highlights common mispricing in Digital Asset Treasury Companies (DATs). He urges investors to consider valuation beyond simple crypto holdings as these firms navigate complex financial dynamics.

DATs now manage over $130 billion in digital assets, serving as vital links between traditional capital markets and direct cryptocurrency exposure. Their unique position brings new valuation challenges that set them apart from other investment vehicles.

Bitwise Just Revealed 3 Ways to Value DATs: All You Need to Know

Bitwise CIO Matt Hougan warns that most DATs are mispriced. While many trade at a discount to their assets, a few can trade at a premium by boosting crypto-per-share.

Hougan’s framework offers investors a clear way to separate the winners from the laggards.

1/ I see a lot of bad analysis of DATs, or digital asset treasury companies. Specifically, I see a lot of bad takes on whether they should trade at, above, or below the value of the assets they hold (their so-called “mNAV”).

Here's how I approach it.

— Matt Hougan (@Matt_Hougan) November 23, 2025

Why Most DATs Trade at a Discount

Hougan highlights three main reasons DATs usually underperform:

• Illiquidity: Investors demand a 5–10% discount if assets aren’t immediately accessible.
• Expenses: Operational costs and executive compensation directly reduce value.

For example, $100 of Bitcoin minus $10 of expenses per share equals a 10% discount.

• Risk: Mistakes, market shifts, or execution errors further lower valuations.

“…most of the reasons they should trade at a discount are certain, and most of the reasons they might trade at a premium are uncertain,” Hougan says.

This means the majority of DATs will underperform relative to their net asset value (mNAV).

How DATs Can Trade at a Premium

Some DATs outperform by increasing crypto-per-share, with Hougan identifying four key strategies:

• Issuing Debt: Borrowing USD to buy crypto can grow per-share holdings if prices rise.
• Lending Crypto: Earning interest compounds the crypto held by the company.
• Using Derivatives: Writing options or similar strategies generates additional assets, though it may limit upside.
• Acquiring Crypto at a Discount: Buying undervalued assets, repurchasing shares, or acquiring cash-flow businesses can increase crypto-per-share efficiently.

The Bitwise executive articulates that scale matters, noting that larger DATs can access debt more easily, lend more crypto, and take advantage of M&A opportunities. Size is a structural advantage.

---

Market Differentiation Is Coming

DATs have historically moved together, but Hougan predicts increased divergence.

• Premium DATs: Executing well, growing crypto-per-share, leveraging scale.
• Discount DATs: Struggling with expenses, risk, or small scale.

Investors can use Hougan’s approach, calculating expenses, risk, and growth potential, to determine fair value.

---

Investors should also watch:

• Which DATs consistently increase crypto-per-share.
• How scale gives certain DATs a long-term edge.
• Market moves that create opportunities to buy undervalued DATs.

With the market set for more differentiation, understanding Hougan’s framework could separate winners from losers amid a growing digital asset treasury space.

The post Most Crypto Treasury Firms Trade at a Discount — Here’s Why appeared first on BeInCrypto.

Satoshi Nakamoto’s legendary Bitcoin fortune has dropped by an estimated $41 billion, as BTC’s price slid more than 30% from its all-time high.

The pseudonymous creator’s 1.1 million Bitcoin, tracked using the Patoshi mining pattern, fell from $138 billion in October to about $96 billion as of this writing. This sharp decline moved Satoshi from 11th to around 20th among the world’s wealthiest people, now just below Bill Gates.

BTC Price Crashed, But What Happened to Satoshi’s Bitcoin Stash

Arkham Intelligence, a blockchain analytics firm, estimates Satoshi’s Bitcoin using mining analysis and on-chain forensics.

The “Patoshi Pattern,” discovered by Sergio Lerner, identifies more than 22,000 early addresses likely controlled by one entity, widely believed to be Satoshi Nakamoto. These coins, untouched for over a decade, continue to fuel intense speculation.

As of October 6, 2025, when the pioneer crypto established an all-time high of $126,296, Satoshi’s Bitcoin stash was valued at $138.92 billion. However , Bitcoin’s price has since dropped by over 30% to trade for $87,390 as of this writing.

With this drop, Satoshi’s Bitcoin stash has shrunk to $96.129 billion, meaning $42.79 billion of this fortune disappeared in weeks.

If Forbes listed Satoshi among the list of the world’s richest people, the Bitcoin founder would rank just below Bill Gates and right above Françoise Bettencourt Meyers & family at position 20.

Despite the vast scale of Satoshi’s holdings, Forbes and other wealth trackers do not count the Bitcoin founder in their official billionaire lists. The reasons include Satoshi’s unverified legal status and the fact that the assets have remained dormant, leaving ownership questions unresolved.

“Forbes does not include Satoshi Nakamoto on our Billionaire rankings because we have not been able to verify whether he or she is a living person, or one person vs. a collective group of people,” the magazine told BeInCrypto.

Ironically, Satoshi’s coins remain among the most visible fortunes due to the blockchain’s transparency.

Some experts suggest Forbes and others should consider including pseudonymous crypto wallets in their lists, even though ownership is anonymous.

Nonetheless, the long-term dormancy has also led to speculation that the fortune could be lost, inaccessible, or deliberately abandoned, an unusual scenario among billionaires.

Quantum Threats and Satoshi’s Secret

Elsewhere, the rise of quantum computing has renewed debate about Satoshi’s future and potential identity. Because quantum computers might one day break early Bitcoin cryptography, some experts propose freezing Satoshi’s coins or forking the network before a possible “Q-Day.” If these risks emerge, the controller of these coins may need to surface.

Important not to scaremonger here about quantum timelines.

Running Shor's algorithm is not the same thing as breaking an actual 256-bit ECC key. You can use Shor's algorithm to factor a number—that will be impressive—but will take a huge degree of scaling and engineering to… https://t.co/juppHGU8wC pic.twitter.com/k38lZvMBLl

— Haseeb ＞|＜ (@hosseeb) November 18, 2025

Nakamoto’s enigma will reach a global audience in 2026 with “Killing Satoshi,” a film exploring the mystery and geopolitical implications of dormant Bitcoin wealth.

Until these coins are moved or declared lost, Satoshi’s fortune remains a symbol of Bitcoin’s origins and its greatest secret.

If Bitcoin surges to $320,000–$370,000, Satoshi could become the world’s richest person. For now, the fortune remains unchanged for over 15 years, highly visible, but untouched.

The post Satoshi Nakamoto Loses $43 Billion as Bitcoin Price Falls Over 30% appeared first on BeInCrypto.

The Department of Government Efficiency (DOGE) has been dissolved, according to the Office of Personnel Management (OPM), despite its mandate being scheduled to continue through July 2026.

Despite the news, the meme coin associated with the Elon Musk and Vivek Ramaswamy-led initiative is up by double digits.

Trump’s DOGE Project Is Over

DOGE began by executive order on Trump’s first day following reelection. Its mission was to dramatically streamline bureaucracy and cut $6.5 trillion in federal spending.

The launch sparked immediate attention, driving Dogecoin prices up over 10% on the announcement and leading to expectations of more crypto use in government.

OPM director Scott Kupor confirmed the dissolution, noting that DOGE doesn’t exist as a centralized entity. The department’s roles have shifted into OPM, while Trump now refers to DOGE in the past tense at public events.

Good editing by @reuters – spliced my full comments across paragraphs 2/3 to create a grabbing headline 🙂 The truth is: DOGE may not have centralized leadership under @USDS. But, the principles of DOGE remain alive and well: de-regulation; eliminating fraud, waste and abuse;…

— Scott Kupor (@skupor) November 23, 2025

The shutdown came eight months before its expected end. Musk left Washington in May. In June, turmoil appeared as staff packed personal items and searched for new homes, while tensions reportedly rose between Trump and Musk.

Despite its aggressive cost-cutting, the department quietly closed its doors.

Vivek Ramaswamy withdrew from the Ohio Senate race to focus on DOGE, but the department faced criticism for a lack of transparency and public accountability throughout its brief existence.

DOGE agents reportedly moved aggressively through agencies, making large personnel cuts and trimming budgets with minimal stakeholder input.

DOGE’s leadership claimed billions in savings, but no concrete, verifiable evidence has shown true cost reductions from these actions. This lack of transparent accounting has left many questioning whether DOGE improved spending efficiency at all.

Until shortly before its closure, DOGE’s official account posted regular updates on contract reductions, highlighting cost-cutting milestones in multiple agencies.

Contracts Update!

Over the last 9 days, agencies terminated and descoped 78 wasteful contracts with a ceiling value of $1.9B and savings of $335M, including an $616k HHS IT services contract for “social media monitoring platform subscription”, an $191k USAGM broadcasting… pic.twitter.com/83ldxUZ1NY

— Department of Government Efficiency (@DOGE) November 23, 2025

Some former DOGE employees are concerned about possible legal consequences related to their involvement in the department’s aggressive measures.

These concerns reveal persistent questions regarding whether DOGE’s practices crossed legal or ethical lines in its short tenure.

This transition marks a shift from DOGE’s drastic cost-cutting to broader government modernization. Critics have noted that only Congress can officially disband agencies, and DOGE’s scope was always limited to what executive actions could deliver.

Meanwhile, the Department Of Government Efficiency cryptocurrency token continues trading. Data on BeInCrypto shows the token’s price sits at $0.00483, up 13.62% in 24 hours.

The dissolution of DOGE raises questions about how sustainable rapid government restructurings can be, and what role executive actions play in structural reform.

As federal operations absorb former DOGE staff and the administration moves on, the real impact of DOGE’s brief experiment remains uncertain and open to further assessment.

The post DOGE Is Gone: Trump and Musk’s Federal Overhaul Quietly Collapses 8 Months Early appeared first on BeInCrypto.

Bitcoin has spent several days under heavy selling pressure, dropping to the $85,000 zone before attempting a modest recovery. The drawdown has shaken market confidence, but the intensity of capitulation now emerging from Bitcoin holders suggests the market may be forming a bottom. 

The price is stabilizing around a key psychological level, but this stabilization comes at the cost of widespread holder surrender — a classic bottoming signal.

Bitcoin Traders And Investors Let Go

Macro momentum indicators show Bitcoin market’s risk expectations shifting aggressively. The 25-delta skew has pushed deeper into put territory across all maturities, signaling that traders are increasingly paying up for downside protection. Short-dated options remain the most skewed, but the notable shift is in longer expiries.

Six-month puts have gained two volatility points in just a week, highlighting a move toward structurally bearish positioning. Traders are now pricing both immediate downside risk and the possibility of a larger break.

This pattern typically appears near major cyclical bottom zones as markets overshoot to the downside before equilibrium returns.

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Realized losses among Bitcoin holders have surged to levels not seen since the FTX collapse. Short-term holders are driving most of this capitulation, reflecting panic selling from recent buyers who accumulated near the highs. The scale and speed of these realized losses indicate that marginal demand has been fully exhausted.

This type of aggressive deleveraging historically marks the final phase of a downturn. When short-term holders unwind en masse, long-term holders typically step in, and accumulation zones begin to form.

This aligns with classic bottoming behavior, where capitulation precedes recovery.

BTC Price Can Bounce Back

Bitcoin trades at $85,979 at the time of writing, holding above the $85,204 support level and defending the $85,000 psychological floor. The confluence of capitulation, bearish skew, and deep realized losses suggests that a market bottom is near or already forming.

If this bottom confirms, Bitcoin could rebound and break through the $86,822 resistance. A move above that level may enable a rally to $89,800 and then $91,521. Clearing these barriers would restore bullish sentiment, potentially driving BTC toward $95,000 in the short term.

However, if bearish pressure intensifies and macro conditions fail to improve, Bitcoin may break below $85,204. A decline under $82,503 would expose the price to a deeper fall toward $80,000, invalidating the bullish thesis and delaying recovery.

The post Did Bitcoin Just Bottom Out? What the Data Says About a Rebound appeared first on BeInCrypto.

Zcash, the privacy-focused cryptocurrency, surged more than 12% to trade near $600 on Sunday after OKX announced it would relist the token.

The rally makes ZEC the top-performing asset among major cryptocurrencies in the last 24 hours, significantly outpacing Bitcoin, which has struggled to reclaim the $90,000 level.

Wall Street Divided on Zcash Impact on Bitcoin

On November 23, OKX announced that spot trading for the ZEC/USDT pair would resume at 12:00 UTC tomorrow.

OKX 将上线 ZEC (Zcash) 现货交易，现已开放充币，开盘时间11月24日晚20:00 (UTC+8)，详见公告👇🏻

— OKX中文 (@okxchinese) November 23, 2025

While the exchange failed to provide additional reasons for its decision, the move marks a significant regulatory U-turn for the venue. It had previously delisted the asset in 2023, citing compliance risks.

Nonetheless, the decision can be linked to two significant factors, including ZEC’s strong outperformance of Bitcoin in recent months.

It also reflects a post-election regulatory thaw, as the new SEC leadership is emboldening platforms to re-integrate privacy protocols that were once considered radioactive.

Meanwhile, the resurgence of Zcash has ignited a philosophical clash on Wall Street regarding the future of digital privacy.

Eric Balchunas, Senior ETF Analyst at Bloomberg, cautioned that the sudden pivot to privacy coins could fragment the broader crypto narrative. He noted that this shift comes at a time when Bitcoin is trying to consolidate institutional support.

He argued that pushing a separate privacy layer risks “splitting the vote” of capital allocation when Bitcoin needs unified political and cultural backing to cement its status as a global reserve asset.

“Zcash has third-party candidate vibes, like Gary Johnson or Jill Stein. Seems like you’d better off folding in their ideas to the main party vs splitting the vote, which could have major consequences, especially in such a crucial time for BTC,” he said.

However, asset managers suggest that fundamental flaws in Bitcoin are driving the rotation.

Jan van Eck, CEO of global investment manager VanEck, pushed back against the “spoiler” characterization. He noted that veteran investors are treating Zcash as a necessary complement to Bitcoin rather than a competitor.

TLDR:

The bitcoin bear market is being driven by the onchain reality of the halving cycle (bearish for 2026), quantum-breaking-encryption concerns and the better privacy of Zcash.@vaneckpk said it best: dollar cost average into bear markets@vaneck_us https://t.co/T4o8ofDggD

— Jan van Eck (@JanvanEck3) November 21, 2025

According to Van Eck, the current bear market in Bitcoin reflects “the on-chain reality” of surveillance risks. He argued that rising demand for confidentiality is driving capital toward Zcash’s encrypted ledger.

The post Zcash Rallies After Latest Relisting Announcement From Major Exchange appeared first on BeInCrypto.

Over the course of last week, and even before that, the Bitcoin price recorded a concerning pattern. The US trading sessions drove Bitcoin losses, while Asian markets consistently bought the dip, indicating sharp regional divergence.

New reports allege that the government may have orchestrated the sell-off seen during the US sessions as part of its broader investment strategy.

US Buyout Rumors Hit MicroStrategy as Bitcoin Crashes to $85,000

Bitcoin’s recent price decline revealed a sharp split in trading, with US sessions driving sell-offs while Asian traders steadily buy the dip. BeInCrypto reported that American sessions have become the weakest period for Bitcoin prices.

According to Max Keiser, a Bitcoin pioneer, the US government may be eyeing MicroStrategy ($MSTR) and Coinbase ($COIN), potentially capitalizing on Bitcoin’s steep sell-off in November.

RUMOR: The U.S. is contemplating a multibillion investment in $MSTR & $COIN pic.twitter.com/Fd1S4LQFRl

— Max Keiser (@maxkeiser) November 23, 2025

While no evidence confirms the claims, the speculation has spread. Some suggest that this interest drove the government to orchestrate the recent Bitcoin sell-off to the sub-$90,000 range.

Allegedly, US government officials wanted MicroStrategy’s market value to net asset value (mNAV) near 1.0 and therefore manufactured a crash on Bitcoin to compress the premium.

“The US is contemplating a multi-billion-dollar investment in MSTR, and they needed the mNAV to be 1 before it made sense for them to invest, so they manufactured a crash on bitcoin,” wrote Teddy, a popular user on X (Twitter).

Mike Alfred names officials such as President Donald Trump, Treasury Secretary Scott Bessent, and allies, citing a multi-step plan to bolster Bitcoin, MSTR, and stablecoins while simultaneously defunding JP Morgan, the Fed, and the US banking cabal to protect US citizens.

Again, there are no official statements or regulatory filings backing these claims. No representatives from the US Treasury, White House, or regulatory agencies have addressed or confirmed the rumors. 

“The administration views it as a defining battle,” Alfred noted.

MicroStrategy’s Index Risk Matters More Than the Noise

Several factors have factually influenced recent price volatility. Strategy Inc. faces the potential impact of MSCI’s proposed index exclusion for companies with more than 50% of their assets in Bitcoin or similar cryptocurrencies. If adopted, this policy could trigger as much as $8.8 billion in passive fund outflows from the stock.

At the same time, shifting outlooks on Fed rate cuts and volatility in bond markets have pressured riskier investments, leading to increased market declines.

Michael Saylor, CEO of MicroStrategy, rejects attempts to reclassify his company as a fund or trust, emphasizing its ongoing software and active treasury operations.

With MSCI’s January 2026 decision approaching, the company continues to face real business hurdles unrelated to online conspiracy theories.

Speculation on X ties Bitcoin’s crash to imagined government accumulation plans, including:

• Claims that the government will “step in and buy MicroStrategy,” creating a new “failsafe.”
• Theories that crashing Bitcoin allows the US to reach a hypothetical 1 million BTC reserve target.
• Assertions that MicroStrategy could be a long-running “honeypot” leading to eventual asset seizure.

Blockchain data indicates that the US government holds more than 326,000 BTC from prior forfeitures, fueling continued speculation.

MicroStrategy, whose balance sheet is dominated by Bitcoin, dropped more than 60% from its highs, pushing its mNAV to levels below 1 as of November 23.

Even without evidence of a government bid, the rumors highlight several key realities:

• MicroStrategy’s valuation remains tightly correlated with Bitcoin volatility.
• Index-eligibility reviews could materially impact liquidity for $MSTR.
• Social media-driven narratives can influence sentiment during high-volatility periods.

While these remain speculation from some of the industry’s loudest voices, the timing of these posts, amidst one of Bitcoin’s sharpest weekly declines of 2025, may be exacerbating the spread.

The post Did the US Really “Manufacture” the Bitcoin Crash? What to Know About the MSTR Buyout Rumor appeared first on BeInCrypto.

Dogecoin has been sliding over the past several days as bearish sentiment spreads across the broader crypto market. Despite the decline, the meme coin is currently overvalued due to heightened speculation surrounding the upcoming launch of Grayscale’s Dogecoin ETF (GDOG). 

This hype may translate into substantial transaction volume on Monday, potentially reshaping DOGE’s short-term outlook.

Dogecoin Investors Provide Support

Dogecoin’s NVT Ratio is spiking sharply, signaling a disconnect between valuation and on-chain activity.

The ratio compares market capitalization with transaction volume, and a surge typically indicates limited transactional utility relative to price. While DOGE is attracting strong social attention and broad support, its actual transaction levels are not keeping pace.

This mismatch can often lead to overvaluation, which in bearish conditions may trigger a drop.

However, the timing of this spike aligns with the anticipated launch of Grayscale’s Dogecoin ETF. The ETF is expected to draw notable capital inflows, which could reset the NVT Ratio and restore balance between price and on-chain activity.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

Macro indicators also paint an encouraging picture. Dogecoin’s Liveliness metric has been rising for several days, indicating increased HODLing behavior among long-term holders.

Liveliness rises when coins remain dormant for longer periods rather than being spent, suggesting that key holders are protecting their positions.

This trend is particularly important during downturns. Long-term holders often act as the backbone of price stability, resisting volatility caused by short-term traders.

Their continued conviction reduces the risk of abrupt sell-offs and shows confidence in Dogecoin’s ability to recover once market conditions shift.

DOGE Price Could Shoot Up

Dogecoin is trading at $0.143 and holding near the $0.142 support level. The meme coin remains trapped under a month-long downtrend that it has repeatedly failed to break. Current bearish conditions make recovery difficult without a significant catalyst.

The launch of the DOGE ETF could provide that catalyst. A successful debut may lift DOGE above $0.151, opening the path toward $0.165. A move of this scale would invalidate the downtrend and signal a shift in momentum supported by new inflows.

If the ETF hype fails to translate into buying pressure, Dogecoin could extend its decline. A drop toward $0.130 remains possible.

But if DOGE does not face a drop this sharp, it may continue struggling beneath the $0.151 resistance, prolonging the ongoing downtrend.

The post Dogecoin Is Overvalued, But Monday Could Flip the Script appeared first on BeInCrypto.

BitMine is intensifying its aggressive accumulation of Ethereum, looking past a 47% collapse in its stock price and billions in unrealized losses.

On November 23, blockchain platform Lookonchain reported that a wallet linked to the corporate giant received 21,537 ETH. The transfer, valued at approximately $60 million, came from institutional prime broker FalconX.

BitMine Doubles Down on Ethereum With Staking Plan

This new purchase would bring BitMine’s total hoard to over 3.5 million ETH, representing nearly 3% of the token’s circulating supply.

Tom Lee(@fundstrat)'s #Bitmine is still buying $ETH.

A new wallet 0x5664 — likely linked to #Bitmine — just received 21,537 $ETH($59.17M) from the #FalconX 8 hours ago.https://t.co/8kg77vYddh pic.twitter.com/FKivNNe0jM

— Lookonchain (@lookonchain) November 23, 2025

The move signals a defiant commitment to its “Strategic ETH Reserve” strategy despite the asset’s recent price struggles.

Indeed, Ethereum is trading near $2,808, down roughly 29% over the past month. Notably, BitMine’s Thomas Lee had attributed ETH’s recent weakness to broader market mechanics rather than fundamental flaws.

According to him, the October 10 “liquidity shock,” which wiped nearly $20 billion in leveraged positions from the crypto market, was the primary driver of the drawdown.

“In 2022, the post-FTX liquidity shock took 8 weeks to clear, but similar to prior drawdowns, crypto prices quickly recovered. History shows crypto prices stage V-shaped recoveries after a lingering and drawn out decline, and we expect this to again be the case in this current drawdown,” He added.

As a result, the downturn has significantly impacted BitMine’s ETH holdings, leaving the firm with an estimated $4 billion in paper losses. This divergence has weighed heavily on BitMine’s stock, which has shed nearly half its value over the past 30 days.

To offset the sting of declining asset prices, BitMine is effectively rebranding itself from a passive ETH holding company to an active yield generator.

On November 21, the firm announced the launch of the “Made in America Validator Network” (MAVAN). The proprietary staking infrastructure is set to go live in early 2026.

Meanwhile, the firm confirmed that it has selected three pilot partners to test its staking operations.

“We plan to partner with one or more of these pilot partners plus world-class infrastructure providers to scale our own “Made in America Validator Network” (MAVAN) over the coming quarter…we believe in building the premier destination for our natively staked Ether and are proud to build with the best partners. At scale, we believe our strategy will best serve the long-term best interests of our shareholders,” Lee stated.

By staking its 3.5 million ETH, BitMine could theoretically generate substantial annual revenue from network rewards. This would create a cash-flow floor that pure holding strategies lack.

Additionally, the firm declared an annual dividend of $0.01 per share, positioning itself as the first large-cap crypto treasury to return capital to investors directly.

The post BitMine Ramps up Ethereum Buying With New $60 Million Purchase appeared first on BeInCrypto.

Cardano is facing renewed questions about its network resilience after a malformed transaction triggered a temporary chain split this week.

A pseudonymous X developer known as Homer J caused the November 21 incident and revealed that he relied on artificial intelligence tools.

Why Cardano Experienced a Temporary Chain Split

The developer stated that they had no malicious intent and the action was a “failed personal challenge.”

“I didn’t sell any Ada before my ‘testing in production’ disaster, or short it (don’t even know how to do that) or worked with anyone on this or plan it long and hard. I do have a lot to lose as a consequence of my actions. Sorry, Cardano community, I truly am,” the developer claimed.

In the post-mortem, Intersect, an organization within the Cardano ecosystem, said an oversized hash caused the flaw by slipping through initial validation checks.

This created a temporary fork between the chain carrying the poisoned transaction and a second, healthy chain.

“While the core Cardano protocol remains robust, this edge-case vulnerability provided a vector for the disruption. The transaction was crafted specifically to trigger this bug on mainnet following its earlier discovery on the Preview network, creating a consensus disagreement between nodes that had processed the transaction and those that had not,” Intersect explained.

Intersect said the bug had been masked for years by older ledger versions and standard transaction tooling.

It surfaced only in recent node releases combined with specialized submission methods.

While the split caused many wallets and decentralized applications to become inoperative, block production continued.

“It is important to note that the network did not stall. Block production continued on both chains throughout the incident, and at least some identical transactions appeared on both chains,” Intersect stated.

Following the incident, staking pool operators were instructed to download an updated node release, which enabled the ecosystem to consolidate the two chains back into a single canonical history.

Meanwhile, Cardano’s blockchain founder Charles Hoskinson has hinted that the attacker could face legal consequences for his actions.

“Cardano works so fast that we forked, fixed, and caught the guy all in one day. He was quite active in the Fake Fred discord. It was absolutely personal and now he’s trying to walk it back because he knows the FBI is already involved,” Hoskinson said.

Cardano’s Technology Earns Praise

Cardano’s technology response to the incident drew unexpected praise from outside its community.

On November 23, Solana co-founder Anatoly Yakovenko praised Cardano’s consensus design while hailing the network’s response to the issue.

The Solana network is one of Cardano’s largest rivals, and the two often compete for developer and investor attention.

I am gonna go out on a limb and actually say this is pretty cool. Nakamoto style consensus without proof of work is extremely hard to build. The protocol functioned as designed in the presence of bugs. https://t.co/K3WO0BE7Cf

— toly 🇺🇸 (@aeyakovenko) November 23, 2025

Yakovenko noted that maintaining network continuity without proof-of-work is “extremely hard,” and argued that the protocol behaved as intended under stress.

His comments stand out in an industry where rival ecosystems rarely commend each other’s architecture.

Cardano developers and operators treated the acknowledgment as validation of the network’s ability to withstand edge-case failures without widespread disruption.

“This whole thing was only possible because of Ouroboros, our Nakamoto-style consensus, and the way the community, SPOs, and the dev teams all stepped up together,” Dori, a Cardano Drep, said.

The post Cardano Swiftly Recovers From AI-Caused Chain Split appeared first on BeInCrypto.

Solana is facing renewed bearish pressure as its price continues to slide, bringing the altcoin close to a critical support level that has not been tested in more than seven months. 

The ongoing decline reflects deepening market weakness, and technical indicators suggest that further losses may be ahead unless conditions shift quickly.

Solana Investors Are Facing Heavy Losses

Solana’s exponential moving averages are signaling the potential formation of a Death Cross.

This pattern occurs when the short-term EMA crosses below the long-term EMA, often indicating the start of a prolonged downtrend. Historical behavior suggests that Solana may be repeating earlier market cycles seen in Q1 and Q2 of this year.

During those periods, SOL fell 59% from the local top before the Death Cross fully materialized.

A similar setup today would send Solana toward $98, extending its current 47% drop from the local top.

These conditions highlight weakening sentiment and reinforce concerns about continued downside risk.

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Macro momentum also appears fragile. Solana’s net realized profit/loss ratio has fallen to its lowest level since June 2023, showing that holders are facing significant realized losses following the recent decline.

This metric often reflects broader sentiment shifts as investors reassess risk during rapid market downturns.

However, there is a notable silver lining. When the net realized profit/loss ratio dips below 0.1, reversals have historically followed.

This pattern played out in March, April, and September of 2023, each time signaling the start of a recovery.

If this trend repeats, Solana could see a meaningful bounce as realized losses saturate and selling pressure stabilizes.

SOL Price Is Vulnerable

Solana trades at $127, holding just above the $123 support level. The altcoin is waiting for broader market stability and renewed investor confidence to fuel a rebound.

However, the indicators mentioned above suggest that the risks remain skewed to the downside.

If Solana moves closer to confirming a Death Cross, the price may continue falling, breaking below $123 and sliding to $105 or even $100.

Such a move would represent a 21.8% correction from current levels and revisit price zones last seen in March.

If realized losses stabilize and investor sentiment improves, Solana could bounce from $123 and attempt a climb to $136.

A break above this barrier would open the path toward $157, invalidating the bearish thesis and restoring a more bullish structure.

The post Solana Price Crash To $100 Likely As SOL Nears Death Cross, But There’s A Catch appeared first on BeInCrypto.

Hedera has suffered a sharp decline over the past week, with its price falling to $0.130 after losing more than 18%. 

This drop is significant because HBAR broke below a crucial support level that had protected investors’ profits for more than a month. 

Hedera Is Following The King

Hedera’s correlation with Bitcoin currently sits at 0.97, one of its highest readings in months. This near-perfect correlation signals that HBAR is heavily mirroring Bitcoin’s price movement.

Such strong alignment becomes especially problematic during periods when BTC faces substantial pressure, as seen this past week.

With Bitcoin dropping to $84,408, HBAR has moved almost in lockstep. The high correlation has erased Hedera’s ability to move independently, making BTC’s decline one of the primary drivers behind the altcoin’s latest losses. 

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Macro momentum indicators reinforce the bearish picture. The Chaikin Money Flow is sitting near an eight-month low, signaling heavy capital outflows from HBAR.

CMF measures buying and selling pressure, and a deeply negative reading indicates that investors are withdrawing funds at an accelerated pace.

These persistent outflows add pressure to the already declining price trend. As liquidity exits the asset, selling intensifies and recovery efforts weaken.

Unless inflows return, HBAR may continue facing difficulty in regaining upward momentum.

HBAR Price Can Bounce Back

HBAR is down 18% this week after slipping below the crucial $0.162 support level, which had held strong for more than a month.

Losing that support has exposed the altcoin to deeper declines and increased volatility as bearish sentiment grows.

Given that macro conditions have not improved, HBAR could drop to $0.120 from its current price of $0.129.

A fall below $0.120 may trigger additional losses, sending the price toward $0.110 as selling pressure builds.

If bullish momentum returns, HBAR may attempt a recovery. A move above $0.133 would be the first step toward stabilizing the trend.

Breaking past $0.145 could open the path to $0.154 and higher, invalidating the bearish outlook and restoring investor confidence.

The post HBAR Price Falls 18% A Week After Losing Its Month-Long Support appeared first on BeInCrypto.

XRP has fallen below the key $2 psychological support level as bearish pressure intensifies across the broader market. The altcoin’s decline has accelerated over the past week, prompting significant selling from major holders. 

This shift in behavior from large investors has amplified downward momentum and weakened XRP’s short-term outlook.

XRP Whales Switch Their Stance

Whales have moved decisively from accumulation to heavy selling. Addresses holding between 10 million and 100 million XRP have dumped more than 250 million tokens in the past 48 hours alone, worth over $480 million.

This selling wave follows more than 20 consecutive days of accumulation by the same group of holders.

Such an abrupt shift signals a loss of conviction among large investors who had previously supported XRP’s rise. Their exit removes a crucial source of market strength and may prolong XRP’s decline. Without renewed confidence from whales, recovery momentum could weaken further and keep prices under pressure.

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Macro indicators also highlight growing fragility. The MVRV Long/Short Difference has slipped below zero for the first time in five months, indicating that long-term holders have lost profitability. This shift pushes profit opportunity toward short-term holders, who tend to sell quickly once prices rise.

If XRP’s price rebounds even modestly, short-term holders may capitalize on their gains by selling, which could suppress upward movement. This dynamic often keeps volatility elevated and limits breakout potential. 

XRP Price May Need Support

XRP has fallen 23% over the past 11 days and trades at $1.92, sitting just under the $1.94 resistance level. The drop below $2.00 marks a significant psychological break and reinforces the current bearish sentiment across the market.

If whale selling accelerates and macro indicators worsen, XRP could fall further toward $1.79 or even lower. Such a move would deepen losses and extend the current downtrend as market sentiment weakens.

However, if investor support stabilizes or broader market conditions improve, XRP may be able to reclaim $2.00 as support.

A successful recovery could lift the price toward $2.14 and higher, helping reverse recent losses and invalidating the bearish thesis.

The post XRP Whale Selling Hits $480 Million In 48 Hours As Price Falls Below $2 appeared first on BeInCrypto.

Grayscale will introduce new exchange-traded fund products tied to Dogecoin and XRP on Nov. 24 after securing approval to list both vehicles on the New York Stock Exchange.

The Grayscale Dogecoin Trust ETF (GDOG) and the Grayscale XRP Trust ETF (GXRP) will debut as spot ETPs holding their respective underlying tokens.

Grayscale Expands ETF Lineup With Dogecoin and XRP

The firm is converting its existing private trusts into fully listed ETFs, a move that represents a major liquidity event for current investors.

GXRP will enter a market that already includes spot products from Canary Capital and Bitwise.

Those funds have drawn about $422 million in combined inflows during their first two weeks of trading, signaling early institutional interest in XRP-linked products.

On the other hand, GDOG will be one of the first Dogecoin ETF available to US investors.

Dogecoin, once a meme token, has grown into the ninth-largest cryptocurrency by market capitalization. Its deep retail following has made it one of the most frequently traded and discussed digital assets, a trend Grayscale expects will support ETF demand.

Considering this, Bloomberg Intelligence analyst Eric Balchunas said the product could attract as much as $11 million in volume on its first trading day.

Grayscale Dogecoin ETF $GDOG approved for listing on NYSE, scheduled to begin trading Monday. Their XRP spot is also launching on Monday. $GLNK coming soon as well, week after I think pic.twitter.com/c6nKUeDrtI

— Eric Balchunas (@EricBalchunas) November 21, 2025

GDOG and GXRP’s launch broadens the mix of crypto ETFs available in the US market, extending the industry’s expansion beyond Bitcoin and Ethereum products that dominated the initial wave of approvals.

Their arrival also reflects shifting regulatory conditions in Washington.

Both approvals are part of a broader acceleration in digital asset oversight under Securities and Exchange Commission (SEC) Chairman Paul Atkins.

Since taking office, Atkins has moved the agency away from a “regulation by enforcement” approach and toward a disclosure-focused framework.

Through his “Project Crypto” initiative, he has signaled that the SEC is open to reviewing compliant digital asset products, clearing the path for issuers seeking to list new ETFs.

The post Grayscale’s Dogecoin and XRP ETFs Set for NYSE Debut on November 24 appeared first on BeInCrypto.

Pi Coin’s recent upward momentum has started to cool, with the altcoin facing a 5% pullback in the past 24 hours. The rise in price earlier this week has now met short-term resistance as inflows show signs of saturation. 

This shift suggests that the strong buying activity supporting the rally may slow in the near term.

Pi Coin Faces Slight Bearishness

The Chaikin Money Flow is slipping after touching the 0.15 level, signaling weakening capital inflows.

CMF tracks money entering and exiting an asset, and while 0.20 is typically viewed as a saturation point, Pi Coin’s threshold appears lower. Historically, a move above 0.15 has often led to both price reversals and netflow declines.

This pattern may repeat, as Pi Coin has struggled to maintain inflows once CMF breaks above this zone.

A renewed drop in capital could pull the price lower in the coming sessions, creating short-term bearish pressure. 

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Despite the slip in sentiment, macro indicators still show pockets of strength. The Relative Strength Index remains in bullish territory above the neutral line.

This means Pi Coin is managing to sustain buying interest even as broader market sentiment trends bearish. Strong RSI readings often imply underlying resilience.

One contributing factor is Pi Coin’s negative correlation with Bitcoin.

As BTC weakens, Pi Coin has avoided following the typical market trend, allowing it to maintain upward movement independently. This divergence continues to support the asset, even with inflows softening.

PI Price Is Finding Its Footing

Pi Coin is trading at $0.241, sitting just below the $0.246 resistance level. The altcoin’s 5% drop yesterday reflects short-term bearish pressure. This has eased but not disappeared entirely. Price action suggests a cautious environment as traders wait for stronger signals.

If buying strength continues to fade, Pi Coin could slip below the $0.234 support or remain range-bound between $0.234 and $0.246.

Consolidation appears likely unless inflows strengthen again, which historically has taken time once CMF retreats.

However, if capital inflows rise again, Pi Coin may break above the $0.246 resistance.

A successful move could lift the price to $0.250 and potentially to $0.260. This would invalidate the bearish outlook and restore short-term bullish momentum.

The post Pi Coin Price Rise May Slow Down As Investors’ Bullishness Saturates appeared first on BeInCrypto.

Solana is weighing a radical shift in its economic model that would eliminate approximately 22.3 million SOL ($2.9 billion) from projected emissions over the next six years.

As a result, the proposal would aggressively fast-track the transition of the blockchain to a low-inflation environment.

Solana’s Plan to Tighten Supply Risks Squeezing Nearly 50 Validators

The measure, formally titled SIMD-0411, proposes doubling the Solana network’s annual disinflation rate from 15% to 30%.

“Doubling the disinflation rate requires modifying a single parameter, making it the simplest possible protocol change that delivers a meaningful reduction in inflation. This adjustment will not consume core developer resources. It carries minimal risk of introducing bugs or unforeseen edge cases,” the authors argued.

If passed, Solana would hit its “terminal” inflation target of 1.5% in roughly three years, ie, by 2029. Notably, that milestone was originally scheduled for 2032.

Proponents describe the current emissions schedule as a “leaky bucket” that continually dilutes holders and creates persistent sell pressure.

By tightening supply, the network hopes to emulate the scarcity mechanics that have historically benefited Bitcoin and Ethereum.

“Our modeling indicates that, over the next 6 years, total supply would be approximately 3.2% lower (a reduction of 22.3 million SOL) than under the current inflation schedule. At today’s SOL price, this equates to roughly $2.9 billion in reduced emissions. Excessive emissions create persistent downward price pressure, distorting market signals and hindering fair price comparison,” they wrote.

Beyond price support, the plan seeks to overhaul the incentive structure for decentralized finance (DeFi).

Moreover, the proposal argues that high inflation mirrors high interest rates in traditional finance, raising the “risk-free” benchmark and discouraging borrowing.

Considering this, Solana aims to push capital out of passive validation and into active liquidity provision by compressing nominal staking yields. Those yields are projected to fall from 6.41% to 2.42% by the third year.

However, this “hard money” pivot carries operational risks.

The reduction in subsidies will inevitably squeeze validator margins.

The proposal estimates that up to 47 validators could become unprofitable within three years as rewards dry up. However, the authors describe this level of churn as minimal.

Still, it raises questions about whether the network will consolidate around larger, better-capitalized operators that can survive on transaction fees alone.

Despite these concerns, early backing from key ecosystem players suggests Solana is prepared to trade subsidized growth for greater stability. The shift reflects a move toward positioning the network as a more mature, scarcity-driven asset class.

The post Solana Considers Cutting $3 billion in SOL Emissions in its Biggest Economic Shift Yet appeared first on BeInCrypto.

US spot Bitcoin exchange-traded funds just posted their busiest trading session ever, even as the recent slide in the cryptocurrency’s price has left the average ETF investor holding losses.

The surge in activity marks a new phase in the market’s adjustment to this month’s selloff in the sector.

BlackRock’s IBIT on Top as $238 Million Inflows Return Amid Market Stress

On November 21, Bloomberg Senior ETF Analyst Eric Balchunas reported that the 12 spot Bitcoin ETFs recorded $11.5 billion in combined trading volume.

Balchunas described the spike in volume as “wild but normal,” noting that ETFs and other asset classes tend to record elevated turnover during periods of market stress.

He said such bursts of activity often signal the release of liquidity as investors reshuffle positions.

The elevated turnover reflected brisk two-way participation, with some investors cutting exposure while others took advantage of lower prices to add to positions.

BlackRock’s IBIT led the surge, generating $8 billion in turnover and accounting for more than 69% of all spot Bitcoin ETF trading that day. This was IBIT’s highest-volume session since launch, though the fund still ended the day with $122 million in outflows.

“Also, no surprise record week for Put volume in IBIT.. this is one thing that may help people stay the course, they can always buy some puts as a hedge while they stay long,” Balchunas added.

Meanwhile, other Bitcoin ETFs, led by Fidelity’s FBTC, posted net inflows of more than $238 million.

Despite this inflow, the 12 Bitcoin investment vehicles are on course for their worst trading month, with net outflows of more than $3.5 billion.

This substantial outflow and record session come as the average spot Bitcoin ETF holder has slipped into the red.

Data from Bianco Research shows the weighted average purchase price for spot Bitcoin ETF inflows stood at $91,725 as of November 20.

The average Spot BTC ETF holder is now in the red. pic.twitter.com/fMb5ln2we7

— Jim Bianco (@biancoresearch) November 20, 2025

Bitcoin’s drop below that level this week pushed most holders, including those who entered the market in January 2024, into unrealized losses.

Bitcoin fell roughly 12% this week to as low as $80,000 before recovering to $84,431 as of press time. This price performance extends a month-long slide and reinforces the risk-off sentiment across digital assets.

The post Bitcoin ETFs Hit Record $11.5 Billion Volume as Most Investors Slip Into Losses appeared first on BeInCrypto.

Bitcoin’s recent drop toward $80,000 has driven most active capital in the asset into losses, signaling a shift in market conditions for the world’s largest cryptocurrency.

Bitcoin has erased nearly 35% from its October peak of about $126,000 after sinking to a seven-month low. As a result, it is now generating one of the largest waves of unrealized losses this cycle.

Over 70% of US Dollars Invested in Bitcoin is in Loss

According to data from on-chain analytics firm Checkonchain, the price rout has forced more than 70% of the capital allocated to Bitcoin underwater.

Bitcoin analyst James Check explains that 71.2% of the network’s realized capitalization carries a cost basis of at least $86,500. This metric prices each coin in the circulating supply at the value it last moved on-chain.

This chart shows the USD value of every coin in the Bitcoin supply priced when it last transacted onchain.

Think of this as our collective invested cost basis.

Over 70% of the USD invested in Bitcoin is now underwater. pic.twitter.com/9o89sg5y7d

— _Checkmate 🟠🔑⚡☢️🛢️ (@_Checkmatey_) November 21, 2025

Thus, it effectively represents the aggregate entry price for the market’s active investors.

So, with Bitcoin recently tumbling below that critical waterline, a flood of buyers who entered during the late-2024 and early-2025 rallies now face mounting losses. Many of these investors are effectively trapped in positions that no longer break even.

This heavy concentration of volume near the highs indicates that short-term holders are experiencing acute stress. It is forcing their Net Unrealized Profit and Loss metrics to collapse to cycle lows.

Bitcoin Market Sentiment Reaches 2-Year Low

Meanwhile, this fracture in the broader market structure is further corroborated by Glassnode data.

The firm’s Relative Unrealized Loss indicator, which tracks the dollar value of coins held below their acquisition price relative to total market capitalization, has spiked to 8.5%. In a typical, healthy bull market, this metric generally remains below 5%.

The Relative Unrealized Loss in the market is now trading at 8.5%.

📉https://t.co/7VWlmcu84i https://t.co/kmfckmV6ix pic.twitter.com/2UKM7a8ggj

— glassnode (@glassnode) November 21, 2025

So, the current breach suggests that the drawdown represents a significant “market reset” of the asset’s ownership base rather than a standard volatility correction.

While prices have staged a modest recovery to the $84,543 level at press time, the psychological damage to the retail sector appears severe.

Social media sentiment has cratered to its lowest point since December 2023, according to blockchain analytics platform Santiment.

The firm said its analysis of social media commentary across X, Reddit, and Telegram shows that retail traders are capitulating and panic-selling at levels unseen in two years.

Historically, such extreme levels of bearishness often act as a contrarian signal, suggesting that the market may be clearing out weak hands in preparation for a local bottom.

The post Bitcoin Slide Leaves Over 70% of Active capital in Losses as Sentiment Collapses appeared first on BeInCrypto.