Market Signal Briefing

Sam Altman told employees they must focus on the company's chatbot experience, to the exclusion of other priorities including advertising.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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Malaysia's position in the global semiconductor supply chain is gaining fresh momentum as Intel prepares another major expansion. The company has confirmed a new 860 million ringgit investment, strengthening the country's role in assembly and testing at a time when governments worldwide are competing to secure chip production capacity.

Seagate Technology Holdings plc (STX) UBS Global Technology and AI Conference 2025 December 1, 2025 6:12 PM EST

Company Participants

Gianluca Romano - Executive VP & CFO

Conference Call Participants

Timothy Arcuri - UBS Investment Bank, Research Division

Presentation

Timothy Arcuri
UBS Investment Bank, Research Division

Good afternoon. Hi, I'm Tim Arcuri. I'm the semi and semi equipment analyst here at UBS. Very pleased to have Seagate next. We have Gianluca Romano, who's the CFO at Seagate. Seagate might be the best performing stock that I cover this year. So things have been going obviously very well for you.

Question-and-Answer Session

Timothy Arcuri
UBS Investment Bank, Research Division

So let's just start off on the point of, obviously, supply/demand is very tight, and you've maintained your strategy of not expanding unit capacity. And so can you just talk about what's driving this supply/demand tightness?

Gianluca Romano
Executive VP & CFO

Yes. Thank you, Tim. And before we start, let me remind everyone that I will be making forward-looking statements today, and you can learn more about the risks associated with this statement on our website. Well, supply/demand is very important, of course, in every industry. It's now more than 2 years, but demand is above supply. And for us and I think for the industry is important is to increase exabyte, not to increase units.

Now we think in the longer term, the way to meet demand or at least get closer to the real demand. is moving our customers into our highest capacity drives. And with the technology, we can go from 30 terabytes to 40 terabytes that is in today, to 50 terabytes and beyond. So we don't think it's needed to increase the units. I think the best way is to generate what our customers need that is more exabyte through our product

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OMAHA, Neb.--(BUSINESS WIRE)--Payments leaders remain confident about the pace of industry innovation, but many risk falling behind as expectations accelerate. New global research from ACI Worldwide (NASDAQ: ACIW) and Globant reveals a widening gap between confidence and readiness that could define industry leadership in 2026 and beyond. The report Payments in Transition: Leadership in an era of transformation, based on a survey of 500 industry leaders across North America, Europe, Latin Americ.

December 02, 2025 2:00 AM EST | Source: District Metals Corp.
Vancouver, British Columbia--(Newsfile Corp. - December 2, 2025) - District Metals Corp. (TSXV: DMX) (Nasdaq First North: DMXSE SDB) (OTCQX: DMXCF) (FSE: DFPP); ("District" or the "Company") is pleased to announce positive results from the airborne Mobile Magnetotelluric ("MobileMT") survey conducted over its 100%-owned Malgomaj mineral licenses, located in Västerbotten County, north-central Sweden (Figures 1 to 3).

On the basis of these encouraging results, the Company has filed an application for a new mineral license adjacent to the Company's existing Malgomaj mineral license nr 1003, that covers potential extensions of the MobileMT anomaly.

Together with the Österkälen and Tåsjö licenses, Malgomaj forms part of the Company's Alum Shale Properties, collectively covering approximately 79,250 hectares. All three license areas were surveyed using MobileMT during the summer of 2025. The survey generated extensive datasets and identified numerous geophysical anomalies. The results have been detailed in a series of three news releases - this being the final installment.

The Company's Malgomaj mineral licenses are approximately 177 km to 217 km northeast from the Company's 100% owned Viken Property, which hosts the Viken Energy Metals Deposit.

The high resolution MobileMT survey results, covering approximately 37,132 hectares at the Malgomaj mineral licenses nr 1001 to 1003 have successfully outlined six low resistivity (highly conductive) anomalies (Target Areas A to F in Figure 1) consistent with the MobileMT signature observed at the Company's Viken Deposit as reported in District's news release of September 24, 2025. These two target areas show size and scale that surpasses the MobileMT conductive anomalies observed at the Viken Property:

Target A: 20.4 km long by up to 5.4 km wide low resistivity (highly conductive) anomaly that is interpreted to be Alum Shale.Target B: 17.7 km long by up to 4.1 km wide low resistivity (highly conductive) anomaly that is interpreted to be Alum Shale.These results represent a major step forward in District's strategy to delineate drill-ready targets within a largely underexplored region characterized by Alum Shales enriched in vanadium, potash, uranium, molybdenum, nickel, zinc, copper, and rare earth elements (REEs).

The Viken Deposit contains the largest undeveloped Mineral Resource Estimate of uranium in the worldi along with significant Mineral Resource Estimates of vanadium, molybdenum, nickel, copper, zinc, and other important and critical raw materials as reported in District's news release from April 29, 2025.

The MobileMT survey covered approximately 1,255 line kilometers at 400-meter line spacing across the Malgomaj Property. The high-priority target areas were selected based on the shallow depth and thickness of the interpreted Alum Shale. The Alum Shale is typically flat-lying, and is rich in graphite and sulphides, making it low resistivity (highly conductive) and easy to detect using the airborne MobileMT system.

Garrett Ainsworth, CEO of District, commented: "Our technical team, in collaboration with Convolutions Geoscience, have now completed a thorough review on all of the MobileMT data from our extensive Spring-Summer 2025 campaign flown by Expert Geophysics, and I can say that the MobileMT survey at our Malgomaj mineral licenses has delivered an exceptional outcome.

The newly defined MobileMT conductive anomalies at Malgomaj are both large and strong - attributes that likely indicate the presence of thick, mineralized Alum Shales with the potential to host significant uranium and associated important and critical raw materials. The clarity with which these anomalies present combined with their favorable structural context, provides a high level of technical confidence, and marks a major step forward in our understanding of this underexplored district.

These findings reinforce our previous view that Malgomaj represents a highly prospective opportunity for a scalable Alum Shale discovery. We are adding to our current mineral license holdings adjacent to Malgomaj mineral license 1003 to ensure that we capture the full continuity of these priority targets."

Uranium is commonly used as a geochemical pathfinder in mineral exploration due to its close association with various valuable mineral deposits, including rare earth elements, base metals, and iron-oxide-copper-gold (IOCG) systems. In Sweden, certain geological environments show elevated uranium concentrations that may indicate the presence of other economically significant metals and minerals. On November 5, 2025 the Swedish Government approved the Proposal to lift the ban on uranium exploration and mining (see news release dated November 5, 2025), and the associated Legislation is expected to be revised accordingly on January 1, 2026.

Figure 1: Malgomaj Property MobileMT Survey Results in Plan View

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7971/276600_b725f39214a21baf_002full.jpg

Figure 2: Cross Section through Target A on Malgomaj Property

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7971/276600_b725f39214a21baf_003full.jpg

Figure 3: Cross Section through Target B on Malgomaj Property

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7971/276600_b725f39214a21baf_004full.jpg

Technical Information

All scientific and technical information in this news release has been prepared by, or approved by Garrett Ainsworth, P.Geo, President and CEO of the Company. Mr. Ainsworth is a Qualified Person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").

Mr. Ainsworth has not verified any of the information regarding any of the properties or projects referred to herein other than the Malgomaj Property. Mineralization on any other properties referred to herein is not necessarily indicative of mineralization on the Malgomaj Property.

About District Metals Corp.

District Metals Corp. is led by industry professionals with a track record of success in the mining industry. The Company's mandate is to seek out, explore, and develop prospective mineral properties through a disciplined science-based approach to create shareholder value and benefit other stakeholders. District is a 2025 TSX Venture 50 company, ranking among the top-performing issuers on the TSX Venture Exchange in the past year.

District is a uranium polymetallic exploration and development company focused on its flagship Viken Property in Sweden. The Viken Property covers 100% of the Viken Energy Metals Deposit, which contains the largest undeveloped Mineral Resource Estimate of uranium in the worldi along with significant Mineral Resource Estimates of vanadium, molybdenum, nickel, copper, zinc, and other important and critical raw materials.

For further information on the Viken Property, please see the technical report entitled "NI 43-101 Updated Mineral Resource Estimate and Technical Report on the Viken Energy Metals Project, Jämtland County, Sweden" dated effective April 25, 2025, which is available on SEDAR+ at www.sedarplus.ca.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding "Forward-Looking Information"

This MD&A contains certain statements that may be considered "forward-looking information" with respect to the Company within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved" and any similar expressions. In addition, any statements that refer to expectations, predictions, indications, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events. Forward-looking information in this MD&A relating to the Company include, among other things, statements relating to lifting of the current ban on uranium mining in Sweden.

These statements and other forward-looking information are based on opinions, assumptions and estimates made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate and reasonable in the circumstances, as of the date of this MD&A, including, without limitation, the reliability of exploration and drill results; reliability of data and the accuracy of publicly reported information regarding current, past and historic mines in the Bergslagen district and in respect of the Swedish properties; uranium exploration and mining regulation in Sweden; the Company's ability to raise sufficient capital to fund planned exploration activities, maintain corporate capacity; stability in financial and capital markets; the Company's ability to complete its planned exploration programs; the absence of adverse conditions at mineral properties; no unforeseen operational delays; no material delays in obtaining necessary permits; the price of metals remaining at levels that render mineral properties economic.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date such statements are made, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks associated with the following: the reliability of historic data on District's properties; the Company's ability to raise sufficient capital to finance planned exploration; the Company's limited operating history; the Company's negative operating cash flow and dependence on third-party financing; the uncertainty of additional funding; the uncertainties associated with early stage exploration activities including general economic, market and business conditions, the regulatory process, failure to obtain necessary permits and approvals, technical issues, potential delays, unexpected events and management's capacity to execute and implement its future plans; the Company's ability to identify Mineral Resources and Mineral Reserves; the substantial expenditures required to establish Mineral Reserves through drilling and the estimation of Mineral Reserves or Mineral Resources; the uncertainty of estimates used to calculated mineralization figures; changes in governmental regulations; compliance with applicable laws and regulations; competition for future resource acquisitions and skilled industry personnel; reliance on key personnel; title matters; conflicts of interest; environmental laws and regulations and associated risks, including climate change legislation; land reclamation requirements; changes in government policies; volatility of the Company's share price; the unlikelihood that shareholders will receive dividends from the Company; potential future acquisitions and joint ventures; infrastructure risks; fluctuations in demand for, and prices of metals; fluctuations in foreign currency exchange rates; legal proceedings and the enforceability of judgments; going concern risk; risks related to the Company's information technology systems and cyber-security risks; and risk related to the outbreak of epidemics or pandemics or other health crises. These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the Company. These factors and assumptions, however, should be considered carefully. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking information or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of such factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this MD&A, and the Company assumes no obligation to publicly update or revise such forward-looking information, except as required by applicable securities laws.

i S&P Global Market Intelligence - Market Intelligence Research

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276600

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Sony Bank is planning a US stablecoin launch as early as fiscal year 2026, aiming to power low-fee payments for Sony games and anime.

Sony Bank To Issue Stablecoin As New Payment Method For Games & Anime
As reported by Nikkei Asia, Sony Bank could issue a stablecoin pegged to the US Dollar as early as fiscal year 2026. Sony Bank, a subsidiary of Sony Financial Holdings, is one of the largest online banks in Japan. It applied for a banking license in the US back in October.

The bank’s parent company went public in September and spun off into its own entity separate from Sony Group. The firm, however, is continuing to support the group’s business developments. The stablecoin project is one such avenue, as Sony Group envisions that the USD-pegged token will be used by customers to pay for content like games and anime in its ecosystem.

Sony Group is a well-known name around the world, controlling multiple large media-related businesses like Sony Interactive Entertainment, the company behind the PlayStation, and Sony Pictures Entertainment, a filmmaker.

In the fiscal year that ended in March 2025, US customers made up 30% of the group’s overall sales to external customers. With Sony Bank’s stablecoin, the multinational conglomerate is now hoping these users can start paying in the ecosystem with digital assets, cutting back on the transaction fees paid to credit card companies.

The bank has formed a partnership with Bastion, an American stablecoin infrastructure solutions provider, to help with the project. “The bank plans to establish a subsidiary to handle its stablecoin business,” noted Nikkei.

The move from Sony comes a few months after President Donald Trump signed the GENIUS Act, establishing a regulatory framework for stablecoins in the US. These cryptocurrencies have also been gaining momentum in other parts of the world recently. Hong Kong launched its stablecoin legislation in August and plans on handing out issuer licenses next year. Japan saw the launch of its first yen-backed coin in October.

Major European banks have come together to form a consortium to launch a euro-pegged stablecoin, aiming a rollout in the second half of 2026 in a bid to challenge the currently USD-dominated market. Over the past year, the fiat-tied cryptocurrencies have enjoyed some sharp growth, but in the last month, they have suffered a slowdown as part of the downturn in the digital assets sector as a whole.

Below is a chart from DeFiLlama that shows how the market cap of the stablecoins has changed over the last several years.

Looks like the metric has dropped into sideways movement in recent weeks | Source: DeFiLlama
The stablecoin market cap set a new record of $309 billion in late-October. Since then, the metric has seen a small decline to $306 billion. USDT and USDC, the two largest tokens in the space, alone account for about $261 billion of this figure.

Bitcoin Price
At the time of writing, Bitcoin is trading around $86,700, down nearly 6% over the last 24 hours.

The price of the coin seems to have plunged | Source: BTCUSDT on TradingView
Featured image from Nikita Kostrykin on Unsplash.com, DeFiLlama.com, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Bitcoin’s blistering 2025 run is being tested, with the world’s largest cryptocurrency falling sharply through last month and into the first week of December. After setting an all-time high above US$126,000 in October, bitcoin slid below US$85,000 on Monday — its steepest decline since the first quarter of the year and a reversal that has spilled across the broader digital-assets market.

Ether, Solana and most major tokens followed the same trajectory as risk sentiment deteriorated across global markets. The sell-off halted months of steadily rising institutional inflows and has raised questions about how resilient this year’s crypto rebound is after such a prolonged period of strength.

Macro pressure returns as markets turn defensive
The moves in cryptocurrency coincide with a clear shift in global macro conditions. Government bond yields climbed again heading into December as central banks tempered expectations for early-2026 rate cuts. For bitcoin — a non-yielding, liquidity-sensitive asset — that change alone was enough to tilt markets into risk-off mode.

Equity markets also softened, particularly in high-beta segments such as tech, small caps and thematic ETFs. Crypto, which tends to move ahead of those categories, sold off first. The drop fed on itself once volumes thinned and larger sell orders began to push prices lower than fundamentals suggested.

Investors describe the episode as a classic liquidity squeeze: not a sentiment collapse, but enough macro friction to force a repricing across speculative assets.

ETF outflows and large-holder selling add momentum
The retreat has been amplified by the very channels that helped drive bitcoin’s rise earlier in the year. After months of steady buying, bitcoin ETFs recorded a noticeable uptick in outflows from late November. For funds that rebalance daily, those redemptions translate directly into market selling.

Institutional investors — a defining feature of the 2025 cycle — have also been more active on the sell side. Several larger wallets trimmed exposure as bitcoin broke through key technical levels, locking in profits from earlier in the year. In thin trade, those moves have outsized impact.

Corporate holders and crypto-focused funds have likewise taken risk off the table, contributing to a broader unwinding of long-duration positions. It’s a dynamic that marks a shift from the 2020–21 pattern, where retail speculation dominated both sides of the market.

The key difference this cycle: institutional flows cut both ways. When they reverse, the market feels it quickly.

Leverage and position resets drive the final leg lower
Once bitcoin breached support around the mid-US$90,000 level, the sell-off accelerated as leveraged traders were forced to unwind positions. Perpetual futures — a major driver of market liquidity — saw waves of liquidations across several exchanges, deepening intraday volatility.

Retail demand has also been quieter than in previous boom cycles. The 2025 rally brought fewer new entrants than the surge seen four years earlier, leaving the market more dependent on institutional buying to stabilise sharp moves. With that support softening in late November, the correction unfolded with fewer natural buyers stepping in.

Across the board, crypto assets traded as if caught in a normalisation phase: elevated valuations meeting tighter liquidity at exactly the wrong moment.

What comes next
Despite the scale of the decline, the market has not yet signalled a structural break. Bitcoin remains comfortably above its mid-year ranges, and the infrastructure supporting institutional demand — ETFs, custody solutions and compliance-focused exchanges — remains intact.

Still, the latest drawdown highlights how sensitive the sector remains to changes in interest-rate expectations and global liquidity. Until yields ease and risk appetite firms, crypto is likely to experience a choppier finish to 2025 than many investors anticipated.

For now, markets are watching whether ETF flows stabilise and whether the broader macro reset eases into year-end. Bitcoin’s long-term narrative remains intact — but December has shown that even a more mature market is not immune to sudden turns in the global cycle.

Solana started a fresh decline below the $135 zone. SOL price is now consolidating losses below $130 and might decline further below $125.

SOL price started a fresh decline below $135 and $130 against the US Dollar.
The price is now trading below $130 and the 100-hourly simple moving average.
There is a key bearish trend line forming with resistance at $136 on the hourly chart of the SOL/USD pair (data source from Kraken).
The price could start a recovery wave if the bulls defend $125 or $120.

Solana Price Dips Further
Solana price failed to remain stable above $140 and started a fresh decline, like Bitcoin and Ethereum. SOL declined below the $135 and $132 support levels.

The price gained bearish momentum below $130. A low was formed at $123, and the price is now consolidating losses. The price recovered a few points and tested the 23.6% Fib retracement level of the downward move from the $144 swing high to the $123 low.

Solana is now trading below $130 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $128 level. The next major resistance is near the $130 level. The main resistance could be $134 or the 50% Fib retracement level of the downward move from the $144 swing high to the $123 low.

Source: SOLUSD on TradingView.com
There is also a key bearish trend line forming with resistance at $136 on the hourly chart of the SOL/USD pair. A successful close above the $136 resistance zone could set the pace for another steady increase. The next key resistance is $140. Any more gains might send the price toward the $145 level.

Another Decline In SOL?
If SOL fails to rise above the $130 resistance, it could continue to move down. Initial support on the downside is near the $125 zone. The first major support is near the $122 level.

A break below the $122 level might send the price toward the $120 support zone. If there is a close below the $120 support, the price could decline toward the $112 support in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is gaining pace in the bearish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level.

Major Support Levels – $125 and $122.

Major Resistance Levels – $130 and $136.

Hedera’s price has struggled to recover over the past week, even as broader market conditions briefly improved before turning bearish again. 

HBAR attempted to climb back toward recent highs, but the market-wide pullback dragged it down, revealing how heavily the altcoin relies on Bitcoin’s movement.

Hedera Has A Problem Named BitcoinHBAR’s correlation with Bitcoin remains extremely strong at 0.87, dipping only slightly from last week’s peak. This tight correlation means Hedera is closely shadowing BTC’s price action, which is not ideal at a time when Bitcoin itself is stuck near $86,000. 

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Bitcoin’s struggle to reclaim bullish momentum has directly impacted Hedera, preventing any meaningful rebound. The lack of independent strength makes HBAR more vulnerable to Bitcoin-led volatility.

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

HBAR Correlation To Bitcoin. Source: TradingViewHBAR’s macro momentum shows further weakness, particularly in the Chaikin Money Flow (CMF), which recently dropped to a seven-month low. The indicator slipped into the 0.18 to 0.23 range, typically an area where outflows slow and inflows begin, offering altcoins a chance to stabilize. 

However, this cycle has been different. Broader market bearishness appears to be overriding usual reversal signals as CMF dipped below 0.18 before climbing only slightly. This demonstrates that investors are still pulling capital from HBAR despite historically favorable conditions for a bounce. 

HBAR CMF. Source: TradingViewHBAR Price Needs A PushHBAR is trading at $0.132 at the time of writing, holding slightly above the $0.130 support level. This level has acted as a critical floor and remains essential in preventing a deeper decline.

If market weakness persists — especially if Bitcoin drops further — HBAR could continue consolidating between $0.130 and $0.150. A breakdown below $0.130 would likely send the price toward $0.120, extending the bearish trend.

HBAR Price Analysis. Source: TradingViewHowever, if Bitcoin manages to recover, HBAR could rebound as well. A bounce off $0.130 may send the altcoin back to $0.150. Flipping this resistance into support would open the path toward $0.162, invalidating the bearish outlook.

A crypto analyst argues that maximum pain for Bitcoin this cycle will be a fall to $55,000, based on technical indicators — rather than the $35,000 that some predict. 

A fall to $35,000, as predicted by some, would represent a 72% retracement.

It has happened before. Bitcoin fell by 77% from a high of $69,000 in November 2021 to a bottom of $15,500 a year later in November 2022. 

However, analyst “Sykodelic” told his 62,000 X followers on Tuesday that predictions of a Bitcoin plunge to $35,000 in 2026 were “absolute rubbish.”

“For Bitcoin to retrace 75% it actually has to fully expand, and this cycle, it just did not do that,” he said, explaining that those kinds of retraces are only possible because the level of expansion — indicated by relative strength index (RSI) — “makes that level of contraction possible.”

Bitcoin (BTC) is currently down 31% from its early October peak of $126,000, which is not unusual even in a bull market.

Bollinger Bands are a key level Bitcoin prices have never fallen below the Bollinger Bands on the monthly time frame, the analyst said. 

They compared the cycle to 2017, which saw huge gains, but the retrace still didn’t fall below the monthly lower Bollinger Band. After the weakest expansion ever, why would it have the deepest contraction, they questioned. 

“Basically, absolute worst-case scenario and if this is a big bad bear... if we close this monthly candle below the mid line, then we could be expecting a maximum bottom of $55k.” BTC is currently holding the monthly mid-Bollinger Band. Source: SykodelicOthers argue Bitcoin correction won’t be that deep Jeff Ko, chief analyst at the CoinEx exchange, told Cointelegraph even a correction to $55,000 is unlikely, arguing that “the bear-case scenario would see Bitcoin revisiting the $65,000 to $68,000 levels.”

He argued that the traditional four-year cycle structure is breaking, and with Bitcoin now far more institutionalized, “I do not expect another 70%–80% drawdown from all-time highs.”

“Market depth, ETF participation, and a structurally broader investor base all suggest that future corrections will be shallower and more orderly compared to previous cycles.”Catastrophic decline if support zone breaks Meanwhile, Augustine Fan, the head of insights at crypto trading software service provider SignalPlus, was bearish if the “significant support area around the $72,000 to $75,000” breaks down. 

“A break below will likely lead to catastrophic stops with unknown consequences for now, given the amount of DAT stop selling, impact on Strategy’s position, and viability given their significant implied losses,” he told Cointelegraph.

Bitcoin was holding around the $87,000 level at the time of writing, recovering slightly from its fall to $84,000 on Monday. 

Magazine: Animoca’s bet on altcoin upside, analyst eyes $100K Bitcoin: Hodler’s Digest

Aster price is building a clean bullish reversal as the Stage 4 buyback begins ahead of schedule and traders return with stronger volume.

Summary

Aster trades near $0.98 after a bounce from the $0.92 area.
The team launched its Stage 4 buyback eight days early to support price amid market volatility.
Technical indicators show improving momentum with RSI, Stochastic, and CCI turning upward.

Aster traded at $0.984 at press time, down 1.8% on the day, with a weekly range between $0.9007 and $1.18. The token sits about 15% lower over the past week and roughly 59% below its $2.41 all-time high from Sept. 24. 

Trading volume rose sharply to $556M, an increase of 62%. CoinGlass data shows Aster (ASTER) derivatives volume up 31% to $1.27 billion while open interest rose 3.6%. This mix shows that more traders are adding exposure during a volatile stretch.

Aster Stage 4 buyback begins
On a Dec. 2 post on X, Aster announced that it had activated its Stage 4 buyback eight days earlier than planned. The team said the early rollout will “support holders during unstable market conditions,” and the program immediately went live on-chain.

[Important Update] Stage 4 Buyback Now Live

As committed, Stage 4 buybacks began on December 2, 01:10 UTC.

Executing wallet address:
0x573ca9FF6b7f164dfF513077850d5CD796006fF4

You can track buyback activity in real-time on-chain. All operations remain transparent and… https://t.co/BUrbDfDFK3

— Aster (@Aster_DEX) December 2, 2025

The structure mirrors earlier stages. Protocol fees continue to drive the buybacks, and depending on volume, the burn allocation can reach half of all purchased tokens. Aster has already bought back 155.72 million ASTER across previous stages, including 55.72 million from Stage 3 alone, with 77.8 million scheduled for burning on Dec. 5. 

Community members described the early start as a show of commitment, with one holder saying the move “proves the team is pushing real value, not empty promises.”

During peak volume periods the buyback engine has previously drawn more than $2 million per day, which helps reduce circulating supply while supporting liquidity incentives and future airdrop plans.

Aster price technical analysis
Aster’s chart shows a clear shift after a difficult end to November. A sharp drop pushed the token toward the $0.92–0.94 area, where buyers stepped in with heavier volume. Price then broke out of a short-term descending structure on Dec. 1 and has held a gentle upward path since.

Aster hourly chart. Credit: crypto.news
Early signs of recovery are shown by momentum indicators. The relative strength index has formed a clean bullish divergence. When the price formed a lower low, the RSI set a higher low, a pattern that often marks a bullish trend change.

Stochastic RSI and the commodity channel index also turned upward from oversold territory, showing stronger short-term momentum. Although the gap between its lines is narrowing, the MACD is still negative, and the ADX is close to 20, indicating that the trend is still developing rather than fully formed.

The majority of short-term moving averages, such as the 10MA and 20MA, are still higher than the current price despite these gains. That leaves $1.00 as the key test for bulls.

A strong daily close above this area would mark the first clean reclaim of local resistance and open room toward the $1.06–1.14 zone, where previous breakdown levels sit. A move through that range would complete the rebound pattern that began on Dec. 1.

Downside pressure may return if the price slips under $0.95, which could pull it back to $0.92 and possibly the $0.88–0.90 zone if market sentiment weakens. 

Avalanche (AVAX) is coiling for a massive move. A potent Wolfe Wave pattern is forming alongside a test of a key weekly trendline. This structural confluence signals that the market is reaching a point of maximum compression, indicating that a significant directional breakout is imminent.

Wolfe Wave Formation Signals Strong Future Move
According to a recent technical analysis by BeLaunch, AVAX is shaping a notable Wolfe Wave pattern, a formation known for sparking strong directional moves once completed. This developing structure reflects tightening price action and growing pressure within the market, hinting that a significant breakout could be on the horizon.

At the same time, Avalanche is pressing against a descending weekly trendline that has consistently acted as a major resistance level. A breakout above it would reinforce the bullish implications of the Wolfe Wave, while a rejection could force the asset back into a prolonged consolidation.

AVAX setup points to a possible upward move | Source: Chart from BeLaunch on X
For those eyeing long-term accumulation, BeLaunch points to the $11–$8 range as the most compelling buy zone. This region could provide strong support and aligns with key structural levels, making it an attractive opportunity for investors preparing for the next potential upside cycle.

Historical Precedent: The September 2023 Rally Setup
BeLaunch went on to highlight that the current Avalanche setup closely mirrors the conditions seen in September 2023, just before a major rally unfolded. The resemblance between the two periods offers a valuable historical reference, suggesting that the market may once again be preparing for a significant move.

The analysis emphasizes that the same pattern is taking shape once again, increasing the probability of an upward move if price action aligns with previous behavior. Repeated technical scenarios often carry weight because markets tend to respond consistently under familiar conditions. If AVAX continues to respect this structure, it could set the foundation for a potential bullish breakout.

BeLaunch also noted the importance of continued monitoring as the pattern progresses. Tracking price action, market sentiment, and overall momentum will be crucial in determining whether the bullish outlook gains confirmation. Any future decisions or expectations will rely on clear signals from the pattern as well as shifts in broader market dynamics.

Avalanche is currently trading around $13.06, reflecting a mild intraday pullback as the market adjusts to recent volatility. With a market capitalization of approximately $6.3 billion, AVAX remains one of the notable assets in the broader crypto landscape. Trading activity has been strong, with its 24-hour volume sitting between $428 million and $445 million, signaling ongoing interest from both short-term traders and long-term participants.

AVAX trading at $12 on the 1D chart | Source: AVAXUSDT on Tradingview.com
Featured image from Shutterstock, chart from Tradingview.com

Bitcoin mining and hardware maker Canaan has entered into a partnership to co-develop a renewable-energy adaptive Bitcoin mining platform, expanding its focus on green energy as the industry seeks sustainable ways to meet its power demands. 

In conjunction with green-power developer SynVista Energy, Canaan plans to create a mining rig that uses an artificial intelligence-powered scheduling engine to synchronize energy supply with dynamic hash-rate demand, the miner announced on Monday. 

The goal is to maximize the utilization of clean energy without compromising grid stability, according to Canaan.

Canaan said the scheme will advance “green mining from isolated pilots to an engineered, replicable solution,” that will offer the industry an “economically viable and regulation-ready blueprint.”

We’re excited to announce our new partnership with SynVista Energy, launching a renewable-adaptive Bitcoin-mining ecosystem that integrates clean power, storage, and hash-rate in one intelligent platform. ⚡️

AI-driven load balancing.
Distributed behind-the-meter mining.
On-chain… pic.twitter.com/RnCIbQ8R7v

— Canaan Inc. (@canaanio) December 2, 2025“High renewable penetration is accompanied by growing output volatility and mounting curtailment risk. Traditional strategies struggle to convert surplus electrons into bankable returns,” the company added. 

Bitcoin (BTC) mining has long been criticized for its energy consumption, with some estimates claiming it’s roughly equivalent to the yearly power use of a mid-sized country, such as Poland or Thailand.

However, Bitcoin proponents argue that Bitcoin mining can support grid stability while counteracting the strain from AI data centers.

Canaan and SynVista are also tokenizing RWAAt the same time, both companies will tokenize generation output, carbon savings and mining yields onchain, to create a “verifiable data foundation for the digitalization and real-world-asset (RWA) securitization of green-power plants.”

“Longer term, the onchain data backbone will enable tokenization and securitization of generation cash-flows and carbon credits, enhancing price transparency and liquidity of green assets and providing a new paradigm for converging digital economy with energy transition,” Canaan said. 

Data from the Cambridge Bitcoin Electricity Consumption Index estimates that Bitcoin’s share of global electricity is roughly 0.8%. 

Source: Cambridge Bitcoin Electricity Consumption IndexHowever, in parallel, the share of renewable energy used in Bitcoin mining has steadily increased, growing at an average annual rate of 5.8%, according to an April report by the industry organization MiCA Crypto Alliance. 

Canaan leans into renewables for Bitcoin mining This isn’t Canaan’s first foray into using renewables to power Bitcoin mining. In October, the company launched a gas-to-computing pilot in Canada, which converts stranded natural gas into energy for Bitcoin mining, according to its October mining update. 

Meanwhile, in September, the miner inked a deal with Soluna Holdings, a company that operates data centers powered by renewable energy, to deploy miners at a wind-powered data center in Texas.

Magazine: When privacy and AML laws conflict: Crypto projects’ impossible choice

A large concentration of short positions will be forced to close if BTC pushes into the mid-$90Ks.

Key Takeaways

Bitcoin’s potential move to $96,900 has a $9.6 billion short-liq bomb waiting overhead.
Short liquidations occur when leveraged bets against Bitcoin are force-closed as margin requirements can't be met.

Bitcoin’s potential rally to $96,900 would put roughly $9.6 billion in short positions at risk of liquidation, according to current liquidation map data.

Bitcoin traded at $86,583 at press time, up slightly after slipping below $84,000 earlier in the day.

Bitcoin operates as a decentralized digital currency on a blockchain network, enabling direct peer-to-peer transactions without traditional financial intermediaries. The asset has experienced heightened volatility in recent months due to increased leveraged trading in derivatives markets.

Sharp price movements in Bitcoin frequently trigger automated sell-offs of short positions across major exchanges. When traders bet against Bitcoin’s price using borrowed funds, sudden upward price swings can force them to close their positions at a loss to meet margin requirements.

Concentrated short positions create vulnerability to rapid price increases, potentially setting off a cascade of liquidations. As short sellers rush to buy Bitcoin to cover their positions, the additional buying pressure can drive prices even higher, triggering more liquidations in what’s known as a short squeeze.

The $9.6 billion in short positions at risk represents leveraged bets that Bitcoin’s price will decline. If the cryptocurrency sustains levels around $96,900, these positions would face automatic liquidation as exchanges protect themselves from trader defaults.

Disclaimer

A fast climb to more than $336 million in assets since launch propelled Canary's XRP fund to the top of the U.S. market, signaling intensifying institutional interest in regulated access to blockchain-based exposure. XRPC Ignites a New Era for XRP Exposure Canary Capital Group LLC announced on Nov.

Alt5 Sigma is facing fresh scrutiny after conflicting timelines in its SEC filings raised questions about how and when the company disclosed the resignation of its independent accountant.

Summary

Conflicting timelines in Alt5 Sigma’s SEC filings raise concerns over its auditor resignation and quarterly report delays.
Separate date mismatches involving management changes add to scrutiny over the company’s disclosure practices.
The firm’s ties to Trump-linked World Liberty Financial continue to shape its governance, balance sheet, and market reaction.

In a Black Friday submission, Alt5 Sigma told the SEC it learned on Nov. 21 that its independent accountant, William Hudgens, had resigned “effective immediately.” 

But as Forbes reported on Dec. 1, Hudgens said he informed the company before June 30 that he would step away from auditing public companies and would complete no work beyond the second quarter, which was filed on Aug. 12.

Alt5 Sigma has still not filed its third-quarter report. In an earlier SEC notice dated Nov. 12, the company blamed its delay, in part, on the “timeliness and responsiveness” of its accountant. When Forbes later asked who was handling the company’s financial review at that time, a spokesperson declined to comment.

Public companies must alert the SEC within four business days when an auditor resigns. Securities law experts who spoke with Forbes said the mismatch in dates, paired with the late quarterly filing, could raise regulatory questions.

Earlier executive changes also show disclosure gaps
The uncertainty around the accountant’s departure follows another filing with unclear dates. Alt5 Sigma reported that its board suspended its chief executive officer, Peter Tassiopoulos, on Oct. 16. 

However, an internal email sent to staff on Sept. 4, six weeks earlier, said he was already on temporary leave while a special committee reviewed unspecified matters. The same message said chief revenue officer Vay Tham had also been placed on leave.

Legal experts noted that filings containing material inaccuracies can violate anti-fraud provisions, though proving intent is difficult. The latest management changes were disclosed just before Thanksgiving.

Alt5 Sigma told the SEC it had terminated acting CEO and CFO Jonathan Hugh without cause, ended the consulting agreement of chief operations officer Ron Pitters, accepted the resignation of director David Danziger, and dissolved the special committee after receiving its findings.

Donald Trump crypto link adds weight 
Alt5 Sigma’s connection to Trump-linked World Liberty Financial has played a huge role in its recent activity and public visibility. In August, the company agreed to raise $1.5 billion to build a treasury of WLFI tokens.

Half of the deal was paid in WLFI, valued at $0.20 per token, while the other half was raised through a stock offering. The arrangement gave World Liberty Financial influence inside Alt5 Sigma’s boardroom.

Zach Witkoff became chair, while Eric Trump and Zak Folkman were assigned director and observer roles, with adjustments later made after consultation with Nasdaq. A Trump-affiliated entity holds about 22.5 billion WLFI tokens and is entitled to roughly three-quarters of the proceeds from token sales.

According to CoinGecko, Alt5 Sigma now holds about $1.1 billion in WLFI tokens on paper, more than five times its own market capitalization. Its shares have dropped about 80% since the deal was announced.

Alt5 Sigma declined to comment on the discrepancies in its filings, the accountant timeline, or its internal reviews. Regulators have also not commented, leaving open the question of whether the company’s recent disclosures will prompt further inquiry.

Data shows the Ethereum Open Interest has shot up by more than 4% following the sharp move down in the cryptocurrency’s price.

Ethereum Has Seen A Pullback Over The Past Day
The cryptocurrency sector as a whole has witnessed a plunge to kick off the new month, with Bitcoin and Ethereum both being down by more than 5% over the last 24 hours. ETH is back in the low $2,800 levels, having essentially retraced the recovery that it had made during the last week of November.

The trend in the ETH price over the last five days | Source: ETHUSDT on TradingView
The sudden price decline has unleashed a wave of liquidations on the derivatives exchanges, leading to $158 million in Ethereum-related contracts being flushed. Of these, $140 million of the liquidations involved long positions alone.

Below is a heatmap from CoinGlass that breaks down the liquidation numbers related to the various digital asset symbols.

The heatmap related to the latest cryptocurrency market liquidations | Source: CoinGlass
Interestingly, while notable liquidations have occurred, derivatives investors still haven’t become discouraged.

ETH Open Interest Has Gone Up Since The Dip
As pointed out by CryptoQuant community analyst Maartunn in an X post, the Ethereum Open Interest has witnessed a sharp jump following the price decline. The “Open Interest” here refers to an indicator that measures the total amount of positions related to ETH that are currently open on all centralized derivatives platforms.

Here is the chart shared by Maartunn that shows the trend in this metric over the past couple of days:

The value of the indicator appears to have risen in recent hours | Source: @JA_Maartun on X
As displayed in the above graph, the Ethereum Open Interest initially collapsed alongside the price drop as long positions suffered forceful closures. As ETH’s bearish momentum tapered off and the price settled into a sideways rhythm, however, the metric saw a gradual reversal in direction, indicating that speculators have started opening up fresh positions.

Since the dip, the ETH Open Interest has gone up by almost $654 million, equivalent to an increase of 4.3%. “Looks like the gamblers are back for another round,” noted the analyst.

Historically, a high value on the metric has generally been something that has led to volatility for the cryptocurrency. This is because an extreme amount of positions implies the presence of a high amount of leverage in the sector. In these conditions, any sharp swing in the asset can induce a large number of liquidations in the market. These liquidations only feed back into the price move that caused them, making it more intense.

An example of this pattern was already seen during the past day. With the Ethereum Open Interest now rising again, it remains to be seen whether more volatility will follow.

Featured image from Dall-E, CryptoQuant.com, CoinGlass.com, TradingView.com

Crypto tailwinds aren't the only catalyst for these promising growth stocks.

Bitcoin (BTC +1.28%) has outperformed the S&P 500 over the past decade, but the next wave of returns may come from cryptocurrency stocks. These corporations have positioned themselves to benefit from rising crypto prices and present long-term upside for investors. They also have much lower market caps than Bitcoin, which means these stocks can double more easily than Bitcoin.

However, some companies have announced blockchain initiatives just to ride the frenzy. For instance, Eastman Kodak (KODK 0.92%) spiked in 2018 after announcing a crypto venture, but it ended up going nowhere.

The two crypto stocks on this list are different. They have been producing real revenue and profits for several years, with crypto acting as one piece of their overall business models. I think these are the top two crypto stocks to consider.

Image source: Getty Images.

This fintech company is achieving rapid growth in crypto and other areas
Growth investors look for stocks that can achieve impressive revenue growth rates while boosting profit margins, and Robinhood (HOOD 4.09%) checks both boxes. Crypto has been a major catalyst for the fintech company, with crypto transaction revenue surging by over 300% year over year in the third quarter.

However, Robinhood is far from a crypto-or-bust stock. Transaction-based revenue increased by 129% year over year, and that segment includes equities and options. Net interest revenue and other revenue were up by 66% and 100% year over year, respectively, while net income soared by 271% year over year.

Those growth rates give Robinhood enough flexibility to outperform even if the crypto market slows down. However, the company's investments in the prediction market may become the next tailwind that accelerates transaction-based revenue.

Robinhood's Chief Financial Officer Jason Warnick told investors in the Q3 earnings release that Q4 is off to a good start. He mentioned "record monthly trading volume across equities, options, prediction markets, and futures, and new highs for margin balances" in October, which increases the likelihood of strong Q4 earnings.

Robinhood is positioning itself as the go-to place for all investment and speculative opportunities. Some people buy and hold their assets on Robinhood, while others view it as a digital Las Vegas.

This crypto miner is signing lucrative deals with big tech
Artificial intelligence (AI) is scorching hot due to its current successes and long-term potential. Nvidia (NVDA +1.50%) became a multitrillion-dollar company because it produced the best AI chips in the stock market. It's easy to forget that Nvidia was a crypto stock before it became an AI stock, so we do have past experience of a crypto stock becoming an AI stock and producing tremendous returns in the process.

Cipher Mining (CIFR 3.24%) looks like the next opportunity. The company's crypto mining infrastructure gives it a unique advantage when creating AI data centers. It already has chips and energy, the big AI bottleneck, to facilitate big deals.

Some of those deals have already happened. A 10-year deal with Fluidstack for $3 billion, backed by Alphabet's (GOOG 1.56%)(GOOGL 1.65%) Google, captured investors' imaginations. The two companies struck an additional deal just a few months later.

Cipher also announced a 15-year deal with Amazon (AMZN +0.14%) worth $5.5 billion when discussing Q3 results. These three deals have used up only a combined 524 megawatts of Cipher Mining's energy. The crypto miner has a pipeline of 3.2 gigawatts (3,200 megawatts), which gives it the flexibility to support several big tech deals.

AI data centers and megawatts are in hot demand due to the intense energy requirements to run AI technology. Right now, AI models like ChatGPT and Grok are gaining momentum and have significant energy requirements. However, autonomous vehicles and robots will also require this type of energy. Any surge of popularity among these products will require more energy and data centers.

Cipher Mining is uniquely positioned for this opportunity, and it's still a small company with a market cap of below $10 billion. This small crypto play has the chance to rally significantly if it can secure more deals in 2026 while expanding its multi-gigawatt pipeline.

Ethereum researchers are working on ways to deploy a protocol they first introduced earlier this year, which could supercharge privacy with zero-knowledge proofs.

Ethereum developer Artem Chystiakov shared his research on the Ethereum community forum on Monday, titled “Zero Knowledge Secret Santa (ZKSS),” which proposes a three-step “Secret Santa” algorithm. The paper was first introduced in January on arXiv. 

Secret Santa is a popular gift-giving game played around Christmastime, in which a group of people exchange gifts anonymously. Each person buys a gift for another person as their “Secret Santa” and also receives a gift from their “Secret Santa.” 

Recipients of the gifts never learn who their Secret Santa is. 

Challenges with playing on Ethereum Chystiakov said there are three main hurdles to playing Secret Santa on Ethereum, which this protocol could solve.

Everything on Ethereum is visible to everyone, so there needs to be a way to hide who’s giving to whom and maintain privacy. 

Blockchains don’t have true randomness, so participants must contribute their own random choices, and the game must be designed to prevent anyone from participating twice or giving a gift to themselves.

Potential use cases for EthereumBlockchain privacy has become a hot topic recently as crypto becomes increasingly integrated into traditional finance. 

Privacy protocols could be applied to scenarios such as anonymous voting and governance, including DAOs or organizations, where users need to prove they’re a member and cast one vote, but keep their choice private. 

It could also apply to whistleblower systems, where users need to prove they’re an authorized employee while submitting information anonymously, or to private airdrops or allocations, where tokens need to be distributed without revealing who received what.

When asked about open-source implementations or deployment, Chystiakov said, “We’re working on it.” 

How Zero Knowledge Secret Santa worksThe proof-of-concept Solidity protocol uses zero-knowledge proofs to establish gift sender and receiver relations while maintaining the sender’s privacy and confidentiality. 

ZK-proofs are a cryptographic method for proving knowledge without revealing the specific information. The ZKSS protocol also utilizes a transaction relayer, which acts as a middleman that submits transactions, thereby keeping the sender’s identity hidden.

Some of the math powering the ZKSS protocol. Source: Artem ChystiakovTo participate, participants register their Ethereum addresses in a smart contract, creating a list of all participants. Then, each participant commits to using a specific digital signature. 

This prevents a cheating attack where someone could participate multiple times by creating different signatures.

Each participant then secretly adds their random number to a shared list using the relayer, so no one knows who added what. This allows receivers to encrypt their delivery address, so only their assigned “Santa” can read it.

Finally, each participant selects someone else’s random number from the shared list, after which the identity of the receiver is revealed. 

Magazine: When privacy and AML laws conflict: Crypto projects’ impossible choice

Global markets were hit with sudden volatility today after Japan’s bond market spiked to levels not seen since 2008. The yield on Japan’s 2-year government bond surged above 1% for the first time in almost two decades. This sharp jump may look small on a long-term chart, but it represents a major move for a market that stayed near zero or even negative for years.  The sudden rise in Japanese yields caused immediate selling pressure across stocks and crypto.

Crypto Follows Stocks into the RedBitcoin, Ethereum, Solana and other major cryptocurrencies all dropped in the short term as investors reacted to the global sell-off. Bitcoin rejected an important resistance level and pulled the rest of the crypto market down with it. Since altcoins are heavily correlated with Bitcoin’s direction, the weakness spread quickly.

XRP Price Faces Pressure at $2 After Fresh Market PanicXRP also felt the impact. The token is still dealing with a long-term bearish divergence, something analysts have been warning about for months. This pattern has continued to play out, showing overall weakness despite small relief rallies.

XRP recently saw a short-term bounce thanks to a bullish divergence, but the move stalled near $2.30 to $2.40, a strong resistance zone. XRP got close to $2.30 before rejecting sharply.

With Bitcoin dropping, XRP followed and is now trading near $2.00, a crucial support area. If XRP holds above the $2 level, it could stabilize between $2 and $2.25. But a daily close below $2 could push the price toward $1.90, then $1.80, and possibly $1.60 if selling pressure grows.

What to Watch Next for XRPIf RSI continues forming higher lows while the price forms lower lows, it could mean a possible rebound later in the week. However, this pattern is not confirmed yet.

For now, XRP remains tied closely to global risk sentiment. As long as the Japanese carry trade unwinds and stock markets stay shaky, XRP may face short-term downside before finding a stronger base.

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Ethereum open interest jumped $653M after a price dip. Traders return as ETH holds support, with indicators pointing to potential upside.

Ethereum’s market activity has picked up again after a sharp move to the downside. Following a drop to near $2,800, open interest in ETH futures rose by more than $653 million.

As of press time, ETH is trading at around $2,800. The asset is down 8% in the past 24 hours but remains slightly up on the week.

Open Interest Rises After Price Decline
According to analyst Maartunn, ETH open interest jumped by $653.8 million, a 4% rise, shortly after the latest dip. The price drop was met with increased futures activity, suggesting traders were quick to return. This kind of behavior is often seen during periods of volatility, when leverage is reintroduced into the market.

ETH Open Interest just jumped +$653.8M (+4.32%) after the recent dip 🎯

Looks like the gamblers are back for another round. pic.twitter.com/1ZPNs9y2RE

— Maartunn (@JA_Maartun) December 1, 2025

ETH trading volume supports this trend, with over $23.8 billion recorded in the last 24 hours. Additionally, the asset may also be approaching a technical turning point. Data from a weekly chart shared by Mister Crypto shows the Stochastic RSI moving into its lower range. Historically, these conditions have been followed by price bounces. Maartunn commented,

“$ETH is very oversold. In the past we’ve always seen a bounce from this level. History will repeat!”

Interestingly, the chart shows that previous readings at similar levels have lined up with market reversals. The current setup appears to mirror earlier cycles where oversold conditions were followed by recoveries, suggesting the potential for a shift in momentum.

ETH/BTC Holds Firm Despite Market Pressure
While Bitcoin has pulled back, ETH has remained steady against it. ETH/BTC is sitting just above a support zone between 0.03150 and 0.03250 BTC. Analyst Michaël van de Poppe noted, “$ETH is nicely consolidating… remaining flat against Bitcoin,” despite broader weakness.

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Traders Remain Cautious as Crypto Market Sees Gradual Recovery in Sentiment: Bybit Report

Ethereum’s November Trading Frenzy: Spot Volume Hits $375B as ETFs Add $35B Punch

How Undervalued Is Ethereum Really, and What’s ETH’s True Price Today?

Ethereum (ETH) price chart. Source: Michaël van de Poppe/X
Volume remains stable, and the pair is holding above its 50-day moving average. Earlier this year, the price rallied over 140% from this same area. Van de Poppe added, “Bitcoin bottoming and Ethereum is likely to outperform,” if the current range continues to hold.

Broader Outlook and Fair Value Estimate
Simon Kim, CEO of Hashed, has launched a dashboard that values Ethereum using 12 different models, as previously reported. According to the dashboard, Ethereum’s fair value is estimated at $4,869. Based on the current market price, this suggests the asset may be undervalued by over 60%.

Meanwhile, CryptoWZRD’s technical review notes that Ethereum is trading just above key support. A move above $3,055 could open the way for bullish setups, while price action below that level may keep the market in a sideways range. They plan to monitor shorter timeframes for potential short-term trade opportunities.

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BitMine Immersion Technologies has acquired another 23,773 Ether over the past three days amid the current market slump, as its chairman pushed back his prediction on Bitcoin’s all-time high.

According to an X post by the crypto data analytics platform Lookonchain, Bitmine purchased 7,080 Ether (ETH) for approximately $19.8 million on Monday.

Source: Lookonchain The same wallet also purchased 16,693 ETH for approximately $50.1 million on Saturday, bringing the total to nearly $70 million over the past three days. 

The moves continue the momentum from last week, which saw Bitwise purchase 96,800 ETH for around $273.2 million.   

Bitmine is the largest ETH digital asset treasury firm (DAT) on the market by a significant margin, according to strategicethreserve.xyz.

Bitmine’s goal is now 62% of the way to its goal of holding 5% of the Ether supply. However, the firm is in the red at current prices, as it posted on Sunday that it has 3.7 million ETH at an average purchasing price of $3,008 per token. 

Top 10 ETH digital asset treasuries. Source: strageticethreserve  Tom Lee shifts Bitcoin call for next all-time highBitmine’s chairman, Tom Lee, has been adjusting his prediction for Bitcoin as the crypto market has stumbled toward the end of 2025. 

Until October this year, Lee had been tipping Bitcoin (BTC) to hit a new ATH of $250,000 by the end of 2025. However, he walked back the call last week, speculating Bitcoin could “maybe” regain its all-time high at the end of this year. 

Lee has shifted again during an interview with CNBC on Sunday, now speculating that Bitcoin will hit a new all-time high in January. 

“I do think Bitcoin can make an all-time high by the end of January,” he said, adding that  “a lot of it’s gonna depend on equities recovering, which we expect it to.” 

Elsewhere, Jeff Dorman, the chief investment officer of digital asset investment firm Arca, said there is no concrete reason why the crypto market has been suffering.

In an X post on Monday, Dorman pointed to bullish fundamentals across multiple markets.

“Wall Street is seeing all of the same bullish signs that I’m seeing — equity, credit and gold/silver markets are launching to ATHs every month because the Fed is cutting rates, QT is ending, consumer spending is strong, record earnings, AI demand still incredibly strong, etc.,” he said, adding: 

“Meanwhile, all of the ‘supposed reasons’ for crypto selling off are easily debunked, or have reversed — MSTR isn’t selling, Tether isn’t insolvent, DATs aren’t selling, NVDA isn’t blowing up, the Fed isn’t turning hawkish, the tariff wars aren’t restarting, etc.”Dorman argued that part of the issue could be due to liquidity problems, as he pointed to potential difficulties on-ramping for large institutions such as Vanguard and State Street.  

“So while it’s great that Vanguard, State Street, BNY, JPM, MS, GS, etc are all COMING, they aren’t here today. And until it’s easy to buy via their existing mandates and systems, they just won’t do it,” he wrote. 

Magazine: Animoca’s bet on altcoin upside, analyst eyes $100K Bitcoin: Hodler’s Digest, Nov. 23 – 29

Another Ethereum whale has just woken from dormancy after a decade of silence — but rather than sell, the whale has deployed its entire stash into staking. 

The Ether wallet holds 40,000 tokens, which the holder paid around $12,000 for during Ethereum’s genesis block launch in July 2015, according to blockchain data platform Lookonchain. It is now worth $120 million. 

However, rather than move the funds to a cryptocurrency exchange deposit address, the ICO-era whale has instead staked their entire ETH holding, suggesting the whale is doubling down on their conviction in Ethereum. 

Source: LookonchainThere has been considerable chatter over the last month about large crypto whales selling, with some analysts attributing recent crypto price fluctuations to their actions.

Two other Ether OGs sold, one stakedAnother OG wallet, which stacked 254,908 tokens during the Ether ICO, started selling their holdings on Nov. 26. 

In an initial sale, the whale sold 20,000 Ether, then steadily chipped away until they had just $9.3 million in Ether left as of Saturday.

At the same time, another OG who had accumulated 154,076 Ether, starting in 2017, sent 18,000 tokens to the web-based crypto exchange Bitstamp. Previously, the whale had sold off 87,824 Ether at an average price of $1,694.

A larger Ether ICO wallet that woke up after eight years in September also opted to stake some of their stash. The whale snapped up 1 million tokens during Ethereum’s genesis and moved 150,000 Ether to a new wallet for staking.

Top Ether holders still accumulatingWhile some OG Ether whales might be selling, the top addresses are still accumulating. Last Wednesday, the supply of Ether held by the top 1% addresses rose to 97.6%, up from a year ago, when they only had 96.1%, according to blockchain data platform Glassnode.

The Eth2 Beacon Deposit Contract holds the most Ether at 72.4 million, which is worth around $203 billion and represents around 60% of the total supply, according to blockchain intelligence platform Arkham.

The Eth2 Beacon Deposit Contract holds the most Ether. Source: Arkham Crypto exchange Binance holds the second-largest amount, with 4 million, and asset manager BlackRock makes up the rest of the top three, with 3.9 million Ether in its stash.

Magazine: Animoca’s bet on altcoin upside, analyst eyes $100K Bitcoin: Hodler’s Digest, Nov. 23 – 29

In brief
Bitcoin trading will be rangebound as 2025 comes to a close, constrained by macro overhang, rebalancing flows among others, Decrypt was told.
The $83,000 to $95,000 range remains an area of interest among experts, who forecast elevated volatility for the remainder of 2025.
The primary catalyst for a 2026 rally is the Fed's guidance after a December cut, followed by two to three more cuts through mid-year.
Bitcoin’s sudden dip on the first day of December has entrenched a fearful market mood, prompting analysts to adopt a cautious stance as the year draws to a close.

The concern has dominated the past month, reflecting Bitcoin’s 7% slide in December and its roughly 31% correction from the October 6 all-time high of $126,080, according to CoinGecko data. 

The crypto market is in a fragile state, experts told Decrypt. Negative news weighs on markets, while positive developments fail to improve market sentiment or price.

Bitcoin is likely to remain range-bound with elevated volatility, consolidating between $83,000 and $95,000, Derek Lim, head of research at crypto market-making firm Caladan, told Decrypt.

Still, experts maintain that Bitcoin is in a bull-market correction rather than having already tipped into bear-market territory.

What’s next for the bellwether crypto?Bitcoin’s crash on the first day of December appears to have been driven by a lack of macro data, uncertainty amplified by MicroStrategy's woes, and speculation about Tether's insolvency, Decrypt previously reported. 

Gold’s rise amid the stock and crypto tumble, meanwhile, hints at the pervasive risk-off shift.

“For Bitcoin to regain a clear upward trajectory, the macro environment would need to improve more than people currently expect,” Tim Sun, senior researcher at HashKey Group, told Decrypt, echoing Lim’s constrained outlook.

It is unlikely Bitcoin will launch into a strong one-way uptrend before 2025 ends, Sun noted, suggesting a more realistic scenario would involve “working on forming a bottom.”

“Liquidity conditions and sentiment are still pretty weak,” the analyst explained, adding that even a December rate cut is secondary to the Fed’s 2026 outlook.

Beyond the immediate consolidationThough the Federal Reserve ended its quantitative tightening program on Monday, removing a significant structural headwind, Lim noted that the positive effects will take time to materialize in market flows. 

He drew a parallel to the 2019 setup, in which risk assets began a significant rally roughly six to 12 months after the Fed concluded its last QT cycle.

Looking further ahead, Lim forecasts Bitcoin trading in a range of $110,000 to $135,000 in the mid to long-term. 

That outlook hinges on key catalysts aligning for risk assets, primarily the Fed’s guidance. Sustained tailwinds would require two to three more cuts through mid-2026, balance sheet stability from the end of QT, and continued institutional adoption.

Bull correction vs. bear marketAnalysts differentiate the current pullback from a true bear cycle. 

“A true bear market usually involves long-term money leaving the space, narratives breaking down, and institutions pulling back in a big way,” Sun clarified, suggesting the current market is weighed down by lower risk appetite and tight liquidity.

Unlike the last cycle peak, “we’re not seeing widespread euphoria or speculative excess,” Sun noted. 

“As long as expectations for a looser Fed cycle in 2026 don’t get completely derailed... this phase is more likely a bottom-forming consolidation—not a new long-term bear market.”

Still, Lim warned that a break below $75,000 would invalidate it, opening the door to a deeper downturn.

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