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.
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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.
Soneium, a Layer-2 blockchain platform by Sony Block Solutions Labs, announced a partnership with IRC APP, the official app for one of Japan’s largest idol and fashion festivals, Idol Runway Collection (IRC).
The collaboration will bring the IRC onto Soneium’s AI-powered IPFi infrastructure to transform global fan engagement through measurable, rewarding on-chain contributions. Asia’s entertainment industry has become a trailblazer in fan participation, a trend that is now taking hold in Western markets.
Sony’s Blockchain Infrastructure for Entertainment
The IRC, Japan’s largest idol and fashion hybrid festival, is hosted by YOAKE entertainment and has expanded its scale through a collaboration with Tokyo Girls Collection (TGC). IRC has already established itself as a success, attracting approximately 11,800 attendees and 107 idol groups to its 2025 event.
The core goal of the partnership is redefining fan engagement by valuing and rewarding measurable on-chain contributions across the J-Pop fandom. This collaboration will unlock the creative community’s economic potential, starting with the world’s second-largest music market.
The core of fan engagement is within the IRC mobile app. This AI-powered app evaluates positive, consistent, supportive posts made by fans on platforms such as X (formerly Twitter). The measured engagement is converted into “IRC Score,” which is automatically claimed to fans’ on-chain wallets without gas fees.
The first wave of IRC 2026 performers, including Nogizaka46, has been announced by YOAKE Entertainment. Source: YOAKE Entertainment
This accumulated score determines a user’s Membership rank—Regular, Bronze, Silver, or Gold—with each tier offering progressively enhanced real-world benefits for IRC 2026, scheduled for March 15, 2026, in Tokyo, including early ticket access, priority entry, and premium venue invitations. It also enables the on-chain Fan Vote, which directly shapes tangible aspects of the IRC 2026 event. This measurable fandom contribution system will expand beyond idol culture into new creative frontiers such as anime and fashion.
Sony launched its Soneium blockchain mainnet on January 14, 2025, setting a new standard for production-grade Web3 services focused on entertainment, gaming, and intellectual property protection. This public Layer-2 network uses Ethereum’s OP Stack, inheriting its security while offering lower transaction fees and higher throughput. Sony Block Solutions Labs designed Soneium to support scalable applications for digital communities and creative industries.
Asian Entertainment Companies Pioneer Fan Ownership Models
This is not the first time Asian entertainment companies have tried Web3-related projects. In Korea, girl group tripleS has made blockchain a core source of revenue. Produced by Modhaus and formed as a 24-member group, tripleS lets fans use NFTs and utility tokens to influence unit composition and song selection. Fans purchase NFT objects to gain Komos token voting power in the COSMO app, creating a system of transparent, participatory governance.
Korea’s girl group tripleS took the stage at the 2024 Korea Blockchain Week. Source: Factblock
This model enabled tripleS to generate revenue even before its debut, providing members with compensation comparable to that of large companies. Production exceeded 10 billion KRW ($6.8 million), and early NFT sales helped cash flow, offering a fairer distribution than typical idol group contracts. TripleS stands out as a case where blockchain drives fan co-creation and transparent value sharing in entertainment.
China’s entertainment platforms are rapidly adopting superfan-driven community models that resemble Web3 economics even without blockchain. HYBE’s expansion through Tencent Music and Alibaba shows how direct messaging, authenticated merchandise, and integrated fan services strengthen ownership-like engagement. This environment naturally supports large-scale Web3-style participation economies.
Tencent Music’s superfan ecosystem illustrates this shift with Bubble surpassing 2.3 million paying subscribers. G-DRAGON’s Macau shows drew 36,000 attendees and 7 million simultaneous online viewers, proving the power of hybrid fan engagement. Merchandise, tiered subscriptions, and the expansion of long-form audio show China building a multi-channel superfan economy aligned with Web3 principles.
Lessons From Failed Web3 Entertainment Experiments
Failures have existed, too. Momentrica, an NFT platform by Dunamu and HYBE, closed on July 2, 2025, after posting an operating loss of 13 billion KRW ($8.88 million USD)and a net loss of 12.3 billion KRW in the last reported year. Although HYBE artists’ digital collectibles sparked initial interest, Momentrica struggled due to a lack of long-term utility or sustained fan participation amid the broader NFT market downturn. Precisely, the platform only offered NFTs as static digital goods, not as engagement tools.
The contrast between Momentrica and tripleS highlights a key difference in Web3 entertainment. Momentrica provided digital collectibles without voting rights, participation, or ongoing utility. In contrast, tripleS used blockchain at its core, granting fans voting rights and engagement options. The lesson is clear: successful Web3 in entertainment requires participation architectures, not just digital merchandise.
Sony’s Soneium appears poised to avoid Momentrica’s pitfalls by supporting high-volume, participation-based applications. Its scalable Layer-2 network is built for voting, reward distribution, and community engagement. Whether entertainment companies create effective participation models on this infrastructure will determine if Sony’s blockchain strategy succeeds where others have failed.
Bitcoin’s sharp correction from $110,000 to around $80,000 is linked to heavy selling by early whales with cost bases near $16,000. CryptoQuant CEO Ki Young Ju notes that on-chain metrics indicate Bitcoin is now in the “shoulder” phase of its cycle, suggesting limited short-term upside potential.
This selling is overwhelming institutional demand from ETFs and MicroStrategy, shaping the cryptocurrency’s 2025 outlook. In an interview with Upbit’s Upbitcare, Ju provides a data-driven look at the shifting landscape for Bitcoin investors and the forces affecting its current market structure.
Early Bitcoin Whales Fuel Selling Pressure
Ki Young Ju explains that today’s market is shaped by a contest between two main whale groups. Legacy whales, holding Bitcoin with an average cost basis near $16,000, have begun to realize hefty profits, selling at a rate measured in hundreds of millions of USD each day. This persistent selling has exerted intense downward pressure on Bitcoin’s price.
At the same time, institutional whales via spot Bitcoin ETFs and MicroStrategy have accumulated significant positions. Yet, their buying power has not matched the scale of early whales’ sell-offs. According to Ju, wallets holding over 10,000 BTC for more than 155 days typically have an average cost basis of around $38,000. Binance traders entered positions around $50,000, so many market participants are in profit and can sell if needed.
Cost basis comparison across different Bitcoin holder categories. Source: CryptoQuant
The CryptoQuant CEO points out that spot ETF and MicroStrategy inflows had boosted the market earlier in 2025. However, those flows have now declined. Outflows have started to dominate the market landscape. For example, data from Farside Investors showed Bitcoin ETFs recorded $42.8 million in net inflows on November 26, 2025, lifting cumulative inflows to $62.68 billion. Despite these figures, the sustained selling from early whales outweighs institutional accumulation.
Market Cycle Analysis Signals Limited Upside
On-chain profit-and-loss metrics offer crucial insights into market cycles. Ju’s analysis using the PnL index with a 365-day moving average reveals that the market has entered a “shoulder” phase. This late-cycle status indicates constrained growth potential and increased risk of a correction.
The valuation multiplier reflects a neutral-to-flat outlook. In previous cycles, each new dollar drove amplified market-cap growth. Now, that multiplier effect has faded. This suggests market leverage is less efficient, and the structure does not support significant gains.
PnL index showing Bitcoin’s current cycle position. Source: CryptoQuant
Ju does not expect a dramatic 70-80% crash. Still, he considers corrections up to 30% reasonable. A drop from $100,000 could mean Bitcoin falling to about $70,000. He uses data from OKX futures long-short ratios, exchange leverage ratios, and buy-sell flow patterns to support this view.
Ju underscores the importance of a data-driven approach. In a recent post, he urged traders to use metrics for conviction, not speculation. His focus remains on interpreting on-chain data, exchange activity, and market structure.
This comprehensive analysis provides a grounded assessment based on on-chain evidence. As early Bitcoin whales continue to sell at profits, institutions face a harsh climate. With high leverage ratios, neutral valuation multipliers, and a late-cycle stance, the market has limited potential for a major rally in the near future.
Conor McGregor and Khabib Nurmagomedov’s rivalry has returned to the spotlight, this time dominating Crypto Twitter after McGregor accused Khabib’s new Telegram-based NFT collection of scamming fans.
The claim triggered a swift response from Khabib and a sharp intervention from on-chain investigator ZachXBT, who redirected attention toward McGregor’s own controversial token launch.
Crypto Feud Ignites After Khabib’s NFT Launch
Khabib promoted a new digital collectibles drop on Telegram this week, themed around the Dagestani papakha hat he wore during UFC walkouts.
The collection sold out quickly, generating about $4.4 million in a single day.
The Now-Deleted Tweet From Conor McGregor
The former UFC champion framed the NFTs as cultural digital gifts rather than speculative assets. He highlighted their link to Dagestani tradition and presented them as shareable items within Telegram’s ecosystem.
However, McGregor publicly rejected that narrative. He accused Khabib of running a “multi-million-dollar scam,” alleging that promotional posts were deleted after the sale.
His comments triggered immediate backlash from both MMA and crypto communities.
Can anybody find me a single person who bought the Khabib NFT who is claiming they have been scammed?
Can anyone show me a single shred of evidence of Khabib misrepresenting what he was selling?
The answer to both those questions are no. We get it you guys hate Muslims
McGregor’s post revived the bitter rivalry born from UFC 229, where Khabib defeated him in 2018. The pair have exchanged barbs for years, often referencing family, legacy, and national pride.
This time, McGregor suggested Khabib used his father’s legacy and Dagestani cultural symbols to mislead fans. His message framed the drop as a “cash grab” disguised as heritage.
The accusation spread quickly, drawing strong reactions across social media.
Khabib responded within hours. He called McGregor an “absolute liar” and accused him of trying to “darken my name” since the UFC 229 loss.
The feud escalated further when on-chain investigator ZachXBT entered the conversation. He reposted McGregor’s comments but flipped the accusation back onto him.
There is just no way good guy McGregor used his reputation, as well as Irish culture, to scam his fans and fire sell a bunch of digital tokens’s online and then delete all of the posts after they were sold, leaving his fans robbed of their money?
ZachXBT pointed to McGregor’s failed REAL token earlier this year. The coin raised far less than its public target, fell sharply in price, and lost community support within weeks.
McGregor then deleted most promotional posts, leaving the project abandoned and investors frustrated.
Crypto Twitter quickly framed this as hypocrisy. Many noted that McGregor’s own token showed more red flags than Khabib’s Telegram collectibles.
After the backlash intensified, McGregor deleted his “scam” posts about Khabib.
Despite the allegations, no reports indicate that buyers lost access to their NFTs. The items still function as digital gifts inside Telegram, with no broken utilities or frozen assets.
Khabib has not marketed the drop as a financial investment.
The crypto market is showing its first meaningful recovery after a harsh November sell-off, and several metrics now resemble the same conditions seen around Thanksgiving in both 2022 and 2023.
Bitcoin has reclaimed the $91,000 level, ETH is back above $3,000, and the wider market has returned to a cautious green. This bounce comes as traders enter a long US holiday weekend that has historically set the tone for December.
Market Indicators Turn Positive After Weeks of Fear
Fear and Greed Index data shows sentiment improving from 11 last week to 22 today, although it remains in “Extreme Fear.”
This shift aligns with a steady rise in average crypto RSI, which climbed from 38.5 seven days ago to 58.3 today. The reading signals growing strength after deep oversold conditions earlier in the month.
Average Crypto RSI On Thanksgiving 2025. Source: CoinMarketCap
Momentum also flipped. The normalized MACD across major assets has turned positive for the first time since early November.
About 82% of tracked cryptocurrencies now show positive trend momentum. Bitcoin, Ethereum, and Solana appear in the bullish zone of CoinMarketCap’s MACD heatmap.
Price action supports this shift. Bitcoin is up 6% on the week. Ethereum has gained nearly 8%. Solana climbed almost 8% in the same period.
The market cap has grown to $3.21 trillion, rising 1.1% over the last 24 hours.
Average Crypto MACD On Thanksgiving 2025. Source: CoinMarketCap
A Familiar Post-Thanksgiving Setup Has Emerged
The current recovery mirrors a structure seen twice before. In both 2022 and 2023, the market entered Thanksgiving after a sharp drawdown and then stabilized into December.
In 2022, Bitcoin fell to near $16,000 following the FTX collapse. By Thanksgiving, selling pressure had exhausted, and the market traded sideways into Christmas.
It was a deep bear consolidation phase rather than a rally.
In 2023, Bitcoin entered Thanksgiving at $37,000 after a steep September-October correction. Strong ETF expectations and improving liquidity conditions pushed BTC to $43,600 by Christmas. It was a classic early-bull December rally.
Bitcoin Performance Between Thanksgiving and Christmas (2021–2024)
This year, the pattern again repeats one familiar element: the November crash came early, and by Thanksgiving, selling momentum had eased.
Bitcoin’s 90-day Taker CVD has shifted from persistent sell dominance to neutral, signalling that aggressive sellers have stepped back. Funding rates and leverage data support the same interpretation.
BREAKING: The S&P 500 closes the day +0.7% higher, adding +$2.5 trillion of market cap since last week’s low.
BitMine chairman Tom Lee described the market as “limping” after the October 10 liquidation shock.
He said market makers were forced to shrink their balance sheets, weakening market depth across exchanges. That fragility persisted through November.
However, Lee also argued that Bitcoin tends to make its biggest moves in short bursts when liquidity recovers. He expects a strong December rally if the Federal Reserve signals a softer stance.
On-chain data aligns with this view. Nexo collateral figures show users still prefer borrowing against Bitcoin rather than selling it.
BTC makes up more than 53% of all collateral on the platform. This behavior suppresses immediate sell pressure, helping stabilize spot markets. But it also adds hidden leverage that could amplify future volatility.
'@Nexo users aren’t selling their Bitcoin, they’re borrowing against it.
BTC now accounts for 54.3% of all collateral on the platform, holding a steady 53–57% range for months.
It confirms Bitcoin is the dominant asset users leverage when they need liquidity. pic.twitter.com/bhmL9UdUvO
Three factors now look similar to the post-Thanksgiving conditions of 2022 and 2023:
Seller exhaustion: Taker CVD shifting to neutral signals the end of forced selling for now.
Momentum recovery: MACD and RSI metrics have reversed sharply after bottoming earlier in November.
Liquidity stabilization: Market makers are still wounded, but volatility has cooled, and ETF outflows have slowed.
If this pattern continues, December could produce one of two outcomes based on the last two years:
A sideways consolidation like 2022 if liquidity remains thin.
A short, sharp rally like 2023 if macro conditions turn supportive.
The deciding factor will likely be the Federal Reserve’s tone in early December and the behavior of Bitcoin ETF flows. Thin liquidity means even moderate inflows could move prices quickly.
December May Deliver a Large Move in Either Direction
The market has entered a transition phase rather than a clear trend. Sentiment is still extremely fearful, but price and momentum indicators show recovery.
With selling pressure fading and technical momentum rising, the environment now resembles the same post-Thanksgiving setups that marked the last two end-of-year cycles.
Bitcoin dominance looks weak here.
ETH/BTC is holding above the 0.03-0.032 support zone.
A new Binance listing can change everything for a small or mid-cap token. It brings more trading volume, more users, and more attention almost overnight. With December 2025 approaching, some altcoins are starting to show stronger charts, rising interest, and early signs that they may be positioning for an exchange upgrade.
If Binance adds any of them next month, the price reaction could be sharp. Here are three worth watching closely.
Irys (IRYS)
Irys (IRYS), the layer-1 data chain, is less than two days old in the CEX mix, but it already sits in the conversation for a new Binance listing. It is listed on Coinbase, which gives it early credibility, and Binance has launched the IRYS/USDT perpetual contract with 20x leverage. When Binance adds futures before spot, it often raises the odds of a full listing in the same window. That is why IRYS is on the December watchlist.
The market reacted fast. IRYS has jumped almost 80% in the past 24 hours, right as the perpetual contract went live.
On the 4-hour chart, it has gained about 131% from post-listing lows and now trades above the Volume Weighted Average Price (VWAP). VWAP is the average traded price, adjusted for volume. Price holding above it shows buyers are still in control and leaves room for a fast, momentum push toward $0.054 first, then $0.063 and even $0.069.
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This setup breaks if IRYS slips back under VWAP. A clean drop below $0.046 would put support at risk and expose $0.038 or lower. That would cool the current Binance listing buzz and signal that traders are starting to sell into the hype instead of positioning for a new Binance listing breakout.
MYX Finance (MYX)
MYX Finance (MYX), a DEX project, is one of the stronger candidates for a new Binance listing. It sits near the top of the Binance Alpha board, carries the highest market cap in that group at about $571 million, and has held a decent amount of its listing gains despite being down about 5.7% over the past month. It is still up more than 115% across three months. Currently, it is available for spot trading on the likes of Bitget and Gate.
The daily chart shows MYX inside an ascending channel that has held since early November. The lower trendline has multiple touches and remains the stronger band. If price pushes above $3.05, which aligns with the 0.618 Fibonacci level, MYX can attempt a move toward the upper side of the channel.
The bull-bear power indicator, which measures who is in control of short-term pressure, shows neither side dominating. That keeps the setup open. But if $2.59 fails, the structure weakens fast, and $2.31 becomes likely, cutting the new Binance listing momentum for December.
Monad (MON)
Monad (MON), the high-speed EVM-based chain, was listed on CEXs only a few days ago, on November 24. It is already tradable on Coinbase, KuCoin, Bybit, Gate, Bitget, and Upbit, which places it in the same early-exposure zone many tokens enter right before a new Binance listing push.
New Binance Listing For Monad, As Most CEXs Already Have it? : CoinGecko
On the 4-hour chart, the MON price needs to reclaim $0.049 to regain momentum. Bulls have weakened, but a new Binance listing burst could pull the price back toward that level. A clean break above $0.049 opens room for continuation.
If the MON price loses $0.040, the bull-bear power tilts negative and $0.033 becomes likely, which aligns with the 0.618 Fibonacci level, an otherwise strong support. That would invalidate the near-term listing hype.
Arthur Hayes has turned Monad (MON) into the week’s most chaotic battleground. Just 48 hours after hyping the token with a brazen “MON to $10,” the BitMEX co-founder reversed course entirely.
Meanwhile, other whales continue to accumulate the token, which hit the mainnet only recently but continues to ride a wave of spoofed token transfers.
Arthur Hayes Nukes MON Publicly, But Whales Are Secretly Accumulating
The former BitMEX CEO slammed the token, urging traders to send it to zero, just two days after the MON price recorded a sharp post-launch rally.
Hayes’ reversal began on November 25, when he joked that the bull market needed “another low float, high FDV useless Layer-1 (L1) token,” before admitting he aped in anyway.
Just what this bull market needs another low float , high FDV useless L1. But obvi I aped. It’s a bull market bitches!$MON to $10 pic.twitter.com/UMSDWWmp5a
On-chain tracking by Lookonchain shows that whale address 0x9294 withdrew 73.36 million MON (around $3 million) from Gate.io within 24 hours, marking one of the largest single-address accumulations recorded this week.
Whale 0x9294 has withdrawn 73.36M $MON($3M) from #Gateio in the past 24 hours.
BeInCrypto also reported that mega whales (holding the highest-tier addresses) boosted their MON holdings by 10.67%, bringing their stash to 176.44 million MON after adding 17.08 million tokens worth roughly $717,000.
Meanwhile, normal whales added 4.80 million MON over the same period, expanding their holdings by 9.51% to reach 55.42 million MON.
In total, whales now control over 300 million MON, a sharp contrast to Hayes’ public dismissal of the project.
Hayes Rotates Into ENA, PENDLE, and ETHFI
While Hayes publicly torched MON, he quietly shifted capital into other tokens. Lookonchain reports that across the past two days, Hayes accumulated:
4.89 million ENA (Ethena), valued at $1.37 million,
436,000 PENDLE worth $1.13 million, and
696,000 ETHFI ($543K).
Arthur Hayes’ recent token purchases including ENA, PENDLE, and ETHFI. Source: Lookonchain on X
On November 26 alone, he spent another $536,000 on 218,000 PENDLE. The ENA trades are even more telling. Just nine hours before Lookonchain’s latest report, Hayes bought back 873,671 ENA for $245,000, even though he sold 5.02 million ENA two weeks earlier at a lower price.
“[Hayes is once again] selling low, buying high,” Lookonchain remarked, signaling either emotional trading or a deliberate strategy to scale into positions he values more than his initial entry.
Together, the moves point toward a broader rotation strategy. Hayes appears to be exiting high-FDV, meme-driven L1 narratives like MON while doubling down on “real yield” and liquid staking plays represented by PENDLE, ENA, and ETHFI.
This would align with broader market behavior, where stabilized prices mean spot flows, especially from whales, now matter more than short-term hype cycles.
Still, the contradiction between Hayes’ aggressive public FUD on MON and simultaneous heavy whale accumulation raises uncomfortable questions for the market.
Is his commentary simply emotional whiplash, or is he intentionally playing into volatility that benefits professional traders? The dynamic revives debates about whether influential voices in crypto can distort sentiment while others accumulate in the shadows.
Nevertheless, investors must conduct their own research, as Hayes’ dramatic exit from MON has not deterred the deep pockets. If anything, whales appear more interested than ever, quietly absorbing supply as retail traders digest the noise.
As of this writing, the MON price is down by over 13%, currently trading at $0.0412. This dump likely stems from concerns after fake token transfer attacks, where bad actors exploited the ERC-20 standard to mislead users with fake wallet activity.
warning – there are fake ERC-20 transfers pretending to be from my wallethttps://t.co/TCZTfDfoTQ
In one instance, a fraudulent contract generated fake swap calls and simulated trading patterns around the MON ecosystem. The transfers aimed to exploit the early hours frenzy after Monad’s mainnet, when users were opening wallets, claiming tokens, and monitoring liquidity.
Bitcoin may be approaching a decisive December as liquidity conditions tighten and on-chain metrics shift. BitMine Chairman Tom Lee says the market has been “limping” since the October 10 liquidation shock, but argues the setup now supports a major move before year-end.
Recent on-chain trends and exchange-collateral data point to similar pressure building beneath the surface.
Liquidity Damage Still Defines the Market
Lee told CNBC that the October event severely damaged market-maker balance sheets.
He described these firms as the “central banks” of crypto, responsible for depth, spreads, and inventory. When their balance sheets shrink, liquidity contracts for weeks.
Market makers withdrew risk capital after the liquidation wave erased roughly $19 billion of leveraged positions.
Order-book depth fell sharply across major exchanges, creating air pockets that amplified downside moves. Under such conditions, Bitcoin and Ethereum tend to react earlier to macro stress than equities.
“Bitcoin makes its best moves in 10 days every year, I think some of those days are still gonna happen before year end,” said Tom Lee.
On-Chain Metrics Show Sellers Losing Control
Bitcoin’s 90-day Spot Taker CVD has shifted from persistent sell dominance to a neutral stance. The indicator tracks aggressive market orders on spot exchanges.
Price remains well below October levels, but the absence of persistent taker-sell pressure signals improved stability.
The shift aligns with the broader leverage reset seen in futures markets, where funding rates have moved near zero.
Borrowing Trends Point to Strong Hands, but Fragile Leverage
CryptoQuant data shows Nexo users prefer borrowing against Bitcoin rather than selling it. BTC accounts for 53% to 57% of all collateral on the platform. That range has held for months despite the drawdown.
'@Nexo users aren’t selling their Bitcoin, they’re borrowing against it.
BTC now accounts for 54.3% of all collateral on the platform, holding a steady 53–57% range for months.
It confirms Bitcoin is the dominant asset users leverage when they need liquidity. pic.twitter.com/bhmL9UdUvO
This behavior reduces immediate selling pressure. It also confirms that long-term holders continue to treat Bitcoin as their primary liquidity source.
Yet it adds another layer of vulnerability. If Bitcoin drops further, collateralized positions face liquidation risk.
Combined with thin order books, any forced selling could produce outsized volatility. This dynamic reflects late-bear fragility rather than early-bull strength.
A Market Caught Between Exhaustion and Low Liquidity
Current market structure reflects a transition rather than a clean reversal. ETF outflows, damaged liquidity, and macro uncertainty keep pressure on prices.
However, on-chain selling has cooled, and structural holders continue to defend positions.
The result is an environment where small catalysts can produce large moves.
🚨TOM LEE: YEAR-END RALLY IS COMING
Despite a brutal six weeks, Tom Lee says a STRONG December rally is on deck, backed by by a dovish incoming Fed pivot. pic.twitter.com/G9afNmV0RR
A dovish Fed pivot would likely hit thin order books and accelerate a rebound. Another macro shock could trigger renewed deleveraging.
Lee’s view aligns with this setup. The market has stopped bleeding, but it remains fragile. Bitcoin has a history of delivering double-digit moves in compressed periods, especially after aggressive liquidations.
As December approaches, both liquidity conditions and on-chain data suggest the next large move is near.
The direction will depend on macro signals and ETF flows rather than sentiment alone.
The UK’s latest Budget leaves headline crypto tax rules unchanged but tightens the wider environment for traders.
Meanwhile, HMRC signals a major rethink on how it taxes DeFi lending and liquidity provision.
No New “Crypto Tax,” But Pressure Still Rises
Chancellor Rachel Reeves did not introduce any crypto-specific tax in the 2025 Budget. There is no new levy on trading, holding, or spending digital assets.
However, the Budget extends income-tax threshold freezes for three more years. As wages rise, more taxpayers drift into higher bands, including active crypto traders.
Summary of the key highlights from the UK budget 👇
-The UK is fck’d and has no money
-Labour have zero idea how to fix this and instead have focused on killing productivity and raising unemployment
The capital gains tax (CGT) allowance remains very low compared to historic levels. That means more crypto disposals trigger reportable gains, even for modest retail portfolios.
At the same time, the UK is pushing ahead with global data-sharing under new reporting standards.
Exchanges and platforms will supply more detailed customer information to HMRC from 2026.
No tax changes for crypto earnings announced in the UK budget. Seems like regulation there is likely to get stricter, but for now 🇬🇧 looks like a slightly more favorable jurisdiction for crypto than some other European countries (eg Spain & France)
Alongside the Budget, HMRC published a consultation outcome on DeFi lending and staking. It responds to strong criticism of its 2022 guidance on loans and liquidity pools.
Stakeholders told HMRC that current rules create disproportionate administrative burdens. They warned that treating every DeFi move as a disposal bears little relation to economic reality.
In response, HMRC has dropped its earlier idea of copying repo and stock lending rules. It now prefers a framework based on “no gain, no loss” (NGNL) for many DeFi flows.
HMRC has published its consultation outcome in the UK regarding the taxation of DeFi activities related to lending and staking.
A particularly interesting conclusion is that when users deposit assets into Aave, the deposit itself is not treated as a disposal for capital gains…
Crucially, the department accepts that automated market makers represent a major share of activity. It signals that any new rules should explicitly cover Uniswap-style multi-token liquidity pools.
Proposed NGNL Rules for DeFi Loans and Liquidity Pools
HMRC now outlines a potential NGNL approach for three areas. These are single-token arrangements, crypto borrowing, and automated market makers.
For single-token lending, entering and exiting a platform could be NGNL for CGT. The real gain or loss would arise only when the user finally sells the token.
For borrowing, posting collateral and taking out tokens would be ignored for CGT. Selling borrowed tokens and later buying them back to repay would crystallise the gain or loss.
For AMMs, HMRC proposes NGNL treatment when users deposit tokens for LP positions. Tax would then focus on differences in the number of tokens received when they exit.
If users receive more of a token than they originally deposited, the extra counts as a gain. But if they receive fewer, the shortfall is treated as a loss against their tax base.
HMRC stresses that this is still a “potential approach,” not enacted law. It will continue consultations before deciding whether to legislate.
How is the UK approaching crypto regulation to become a global leader? 🇬🇧
In one minute, Matt Osborne, Policy Director for the UK & Europe at Ripple, explains the plan: adopt proportionate, growth-friendly rules and allow overseas stablecoins, such as $RLUSD, to be used locally.… pic.twitter.com/lsFC1SgsRA
One of the most controversial ideas was to treat all DeFi rewards as income. Respondents warned that this would ignore capital versus revenue distinctions and create dry tax charges.
HMRC now says it is not actively pursuing an “all revenue” deeming rule. Rewards will continue to follow existing principles for now.
What This Means for UK Crypto Traders
For spot traders on centralised exchanges, the Budget brings no direct structural change. CGT still applies on each disposal, and income tax applies where trading amounts to a trade.
However, the combination of frozen thresholds and low CGT allowances increases effective tax pressure.
More active traders will breach reporting thresholds and face higher marginal rates on gains. HMRC expects more users to use portfolio tracking software to support their filings.
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