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 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

— MMA Joey (@MMAJOEYC) November 26, 2025

McGregor Escalates Long-Running Rivalry

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. 

He reiterated that the NFTs are cultural gifts and denied any wrongdoing.

ZachXBT’s Intervention Shifts the Narrative

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?

There is just no way good guy… pic.twitter.com/CuUzvPGiKS

— ZachXBT (@zachxbt) November 26, 2025

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 post Conor McGregor and Khabib’s UFC Rivalry Erupts Again After NFT ‘Scam’ Accusation appeared first on BeInCrypto.

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.

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.

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.

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.

Happy Thanksgiving to all! pic.twitter.com/tsjKylr5UV

— The Kobeissi Letter (@KobeissiLetter) November 26, 2025

Liquidity Damage Still Shapes the Current Cycle

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

— CryptoQuant.com (@cryptoquant_com) November 27, 2025

We May Be Entering a Two-Year Holiday Pattern

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.

#Bitcoin Testing 90k 
if it holds its the first step to a Santa Rally pic.twitter.com/QhHQNfDQPk

— RudoViljoen (@TheChartArtist) November 19, 2025

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. 

Bitcoin’s position above $91,000 suggests buyers are willing to defend key levels, yet order-book depth remains weak.

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.

It seems like we could see ETH outperformance in December. pic.twitter.com/IRQS05mETi

— Ted (@TedPillows) November 27, 2025

If the pattern holds, December will not be flat. It will likely bring a decisive move as liquidity conditions shift.

The direction, however, will depend less on crypto narratives and more on macro signals and ETF demand in the coming weeks.

The post Crypto Market Hints at a Two-Year Post-Thanksgiving Pattern Returning appeared first on BeInCrypto.

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.

WATCH: Tom Lee says “Bitcoin could hit a new all-time high before year-end” pic.twitter.com/13czeJdJeL

— BeInCrypto (@beincrypto) November 27, 2025

This matches market performance since early October. Bitcoin has dropped almost 30% from its $126,000 peak. 

Meanwhile, November has delivered one of the worst monthly performances for both price and ETF flows in years.

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.

Despite this damage, Lee expects a strong December rally, citing a potential dovish shift from the Federal Reserve.

“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. 

Red bars dominated from early September through mid-November, showing sustained taker-sell pressure.

The recent move to neutral marks a break in that pattern. It suggests the aggressive selling phase has exhausted. 

However, it does not show strong buyer dominance. Instead, the market has entered a balanced phase typical of late-cycle bear markets.

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

— CryptoQuant.com (@cryptoquant_com) November 27, 2025

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

— Coin Bureau (@coinbureau) November 27, 2025

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 post BitMine’s Tom Lee and On-Chain Data Signal a Big December Move for Bitcoin appeared first on BeInCrypto.

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

-As the deficit widens, it will just be monetised

-GBP will be the escape…

— LondonCryptoClub (@LDNCryptoClub) November 26, 2025

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)

— Butian | Bless (@blessbutian) November 26, 2025

HMRC Backs Away From Its Hard Line on DeFi

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…

— Stani.eth (@StaniKulechov) November 27, 2025

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

— Ripple (@Ripple) November 26, 2025

DeFi Rewards: No New “All Income” Rule – For Now

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.

The post What The Latest UK Budget Means For Crypto Tax and DeFi Access appeared first on BeInCrypto.