Market Signal Briefing

Bill Ackman, who outlined plans to create a modern Berkshire Hathaway earlier this year, has 39% of his portfolio split between Alphabet and Uber.

Warren Buffett assumed control of Berkshire Hathaway in 1965. He quickly diversified beyond the core textile business to build a holding company that now owns dozens of subsidiaries. Berkshire shares have returned 20% annually under his leadership.

Billionaire Bill Ackman wants to recreate that success with Howard Hughes Holdings. He explained his plan to create a "modern Berkshire Hathaway" at the annual shareholder meeting earlier this year. Whether Ackman realizes that ambitious goal and becomes the next Warren Buffett remains to be seen, but he has a good track record.

His hedge fund, Pershing Square, beat the S&P 500 (^GSPC +0.54%) by 24 points over the last decade. That makes Ackman a good source of inspiration, and as of the third quarter, 39% of his portfolio was split between two artificial intelligence (AI) stocks: 19% in Alphabet (GOOGL +0.06%) (GOOG 0.05%) and 20% in Uber Technologies (UBER +2.19%).

Here's what investors should know.

Image source: Getty Images.

1. Alphabet: 19% of Bill Ackman's portfolio
Alphabet is the largest ad tech company in the world due to its ability to engage internet users with popular web properties YouTube and Google Search. Search advertising alone accounts for half of revenue, so investors have been wary about potential disruptions from artificial intelligence (AI) tools like Perplexity and ChatGPT.

However, Alphabet has adapted to the era of generative AI by retooling Google Search with AI Overviews and AI Mode, features that have led to an increase in commercial and overall queries. CEO Sundar Pichai says the impact has been particularly strong among younger people, which suggests the company can retain its search dominance even as the industry undergoes radical change.

Meanwhile, Google Cloud revenue has accelerated in two straight quarters, due primarily to demand for artificial intelligence services. The company has designed custom AI chips called Tensor Processing Units (TPUs), which provide an alternative to Nvidia GPUs, and it has developed the Gemini family of large language models, whose popularity rivals that of models from OpenAI and Anthropic.

In a recent note to clients, Morningstar analyst Malik Ahmed Khan said Alphabet was the only company with leading-edge AI solutions that span infrastructure (i.e., TPUs and cloud services) to consumer distribution (i.e., Google Search and Gemini). He also said the news that Meta Platforms may deploy Google TPUs in its data centers was a significant milestone, as TPUs have never been used outside Google Cloud.

Here's the big picture: Alphabet has a strong presence in two markets, digital advertising and cloud computing, and it's leaning on artificial intelligence across both business segments. Wall Street expects earnings to increase at 16% annually over the next three years, which makes the current valuation of 32 times earnings look reasonable. Investors should feel comfortable buying a small position today.

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2. Uber: 20% of Bill Ackman's portfolio
Uber operates the largest ride-sharing platform and one of the largest delivery platforms in the world, which has benefited from its recent push into grocery and retail. Offering those services through a single mobile app lets the company efficiently cross-sell users on each side of the ecosystem. The company has also used its consumer data to build a sizable ad business.

Looking ahead, Uber estimates autonomous vehicles (AV) will push the U.S. ride-sharing market to $1 trillion. It has partnered with 20 companies to capitalize on that opportunity. Among the most important partnerships, Alphabet's Waymo offers robotaxis in Atlanta, Austin, and Phoenix; and WeRide provides robotaxis in Abu Dhabi, with 15 European cities to follow in the next five years.

Uber has also partnered with Nvidia to advance its position in autonomous driving in two ways. First, the Nvidia Hyperion framework comprises hardware and software that other companies can use to build and deploy robotaxis on Uber; the goal is 100,000 vehicles by 2027. Second, Uber will collect more than 3 million hours of robotaxi-specific data using Nvidia hardware and software as the companies collaborate on a data factory.

Uber CEO Dara Khosrowshahi earlier this year said, "Uber can deliver the lowest operation costs of our AV partners because we are leaps and bounds ahead on every aspect of the go-to-market capabilities that are critical to commercialization." Put differently, Uber has the largest ride-sharing platform in the world, which makes it an the ideal partner for AV companies that want to monetize robotaxis.

Wall Street expects Uber's earnings to increase at 31% annually over the next three years. That makes the current valuation of 11 times earnings look quite cheap. Like Bill Ackman, patient investors should feel comfortable owning a position in this growth stock.

Patience will be rewarded for those who stick with these two healthcare stocks.

There are exciting investing trends sweeping through Wall Street right now, including artificial intelligence (AI). While it's a great idea to try to capitalize on this rapidly growing field by buying shares in some of the leaders in the AI industry, you shouldn't give up on tried and true approaches to earning superior returns over the long run. One of them is income investing.

Dividend stocks -- especially those that routinely increase their payouts -- tend to have solid businesses and the ability to overcome obstacles, which generally allows them to perform well given a sufficiently long time horizon. Of course, not every dividend stock is worth investing in, but let's consider two that are: Bristol Myers Squibb (BMY 0.10%) and Johnson & Johnson (JNJ 0.29%).

Image source: Getty Images.

1. Bristol Myers Squibb
Bristol Myers Squibb has struggled over the past few years due to patent cliffs. And to make matters worse, it will soon face even more, including for two of its best-selling medicines, cancer drug Opdivo and anticoagulant Eliquis, both of which will lose patent exclusivity by the end of the decade.

The good news is that BMS has launched newer products that should help it return to top-line growth after the dust settles. These include a subcutaneous version of Opdivo, which received approval late last year. Newer medicines, such as Reblozyl for anemia in beta-thalassemia patients, should also contribute to sales growth for a while.

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In the third quarter, total revenue increased by 3% year over year to $12.2 billion. The company's growth portfolio, primarily composed of newer launches, reported $6.9 billion in sales, an 18% increase compared to the year-ago period.

BMS is doing what it's supposed to do to navigate patent cliffs. The company still has more to look forward to, with dozens of products in the pipeline that will yield even more brand-new approvals, particularly in the oncology market. One of them is BNT327, a medicine the company is developing in collaboration with BioNTech that could challenge the world's leading cancer drug, Keytruda.

Bristol Myers Squibb's prospects remain strong, and the dividend is still attractive. The stock now offers a forward yield of 5.1% and the company has increased its payouts by 63.2% over the past decade. If you're an income-seeking investor, you should be able to safely add this stock to your portfolio.

2. Johnson & Johnson
The past few years haven't been easy for healthcare giant Johnson & Johnson, either: It has encountered patent cliffs, legal challenges, and the threat of government drug-price negotiations. Considering all that, the pharmaceutical leader has performed well. Third-quarter sales jumped by 6.8% year over year to $24 billion.

Although these potential obstacles remain, there are several reasons J&J's long-term outlook is bright. Let's consider two.

First, it could circumvent the direct challenges to sales growth (especially drug-price negotiations) through innovation. Johnson & Johnson routinely earns new approvals or label expansions within its pharmaceutical business and medtech division. In the former, the company recently launched Imaavy, a medicine that received approval for myasthenia gravis (a chronic disease causing muscle weakness) in April.

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In medtech, Johnson & Johnson received clearance for the Virtuguide System, designed to assist physicians in performing Lapidus procedures (surgeries to fix a bunion, a painful bump on the big toe), earlier this year. The Virtuguide uses AI-powered software to analyze each patient and craft personalized recommendations. J&J's ability to innovate should allow it to continue performing well, despite recent challenges to its business.

Second, the company has an incredibly strong balance sheet. Johnson & Johnson has the highest credit rating available, even higher than that of the U.S. government, which speaks volumes as to its ability to handle its obligations and potential fallout from legal problems.

Also note that Johnson & Johnson is a Dividend King -- a company that has raised its payouts for at least 50 consecutive years. Even in this elite group, Johnson & Johnson is one of the more impressive, with its streak currently standing at 63 years.

This is about as safe as dividends come. Johnson & Johnson is an excellent income stock to hold onto for a while.

Shopify has historically delivered outsized returns for investors.

Regarding the performance of Shopify (SHOP 0.40%), most of its long-term investors are likely happy with it. A $1,000 investment made on the day of the May 2015 initial public offering (IPO) is now worth around $60,000.

Unfortunately for some of its investors, succeeding by investing in Shopify stock has been a question of timing, and its five-year shareholders may be less than happy with the stock's returns. Here's why.

Image source: Getty Images.

Shopify's five-year performance
Over the past five years, Shopify's stock has been up 58%. While that may sound like a decent return, it falls short of the S&P 500, which more than doubled over the same timeframe.

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Shopify's five-year shareholders owned the stock through the worst period in its history. If one bought in November 2020, the stock rose 60% in the first year.

Nonetheless, a combination of the 2022 bear market and a move into shipping and fulfillment returned Shopify to losses, and the stock fell by as much as 87%.

Fortunately, by the beginning of 2023, the bear market was ending. Moreover, Shopify decided it was a mistake to try to build a fulfillment network and sold it to Flexport in June 2023. This allowed Shopify to return to profitability, and investors again began bidding the share price higher.

The importance of other perspectives
However, investors should judge Shopify by its overall history rather than by one period.

Despite the aforementioned five-year performance, investors should remember two facts. First, Shopify's ability to admit mistakes. When it saw how the cost of building the fulfillment network devastated the company's financials and the stock, the company acknowledged it could likely not bear the cost of running such a network and exited this business.

Just as importantly, that move brought Shopify's focus back to its core competency in software, and it still had an extensive ecosystem that helped it retain its competitive advantage over most other e-commerce platform ecosystems.

Secondly, the 2022 bear market remains the only sustained pullback in the stock's more than 10-year history. In every other instance, Shopify's sell-offs were comparatively shallow, and the stock typically recovered within a few months or less.

Now, with revenue and profits continuing to rise, another sustained sell-off like the one in 2022 looks increasingly unlikely.

Shopify stock remains a buy
Despite Shopify underperforming the market over the last five years, Shopify stock has been and will likely remain good for investors.

Admittedly, investors who bought five years ago dealt with a brutal bear market sell-off and a return to losses from a strategic misstep.

Fortunately, such instances are rare, and the stock significantly outperformed the market over most time periods. With revenue and profits continuing to grow, its outperformance could likely continue, even if investors buy the stock at a short-term peak.

SummaryMonte Rosa Therapeutics is transitioning from an oncology focus to a next-gen immunology & inflammation platform, with significant pharma partnerships.GLUE's pipeline features MRT-6160 (VAV1 degrader, partnered with Novartis), MRT-8102 (NEK7 degrader), and MRT-2359 (oncology), offering both I&I and oncology upside.A strong financial position with ~$400M cash, multiple lucrative deals with Novartis and Roche, and a cash runway through 2028 reduce near-term dilution risk.GLUE is rated a speculative buy, with 18-36 month catalysts in I&I Phase 2 trials; success in any program could drive substantial upside from current valuation. Valerii Apetroaiei/iStock via Getty Images

Monte Rosa Therapeutics: The Market Still Thinks “Oncology,” the Story is Quietly Shifting to I&I Monte Rosa Therapeutics (GLUE) used to be valued as an oncology MYC degrader story, so when it quietly shifted focus to immunology & inflammation (I&I), investors tended

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.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

If you are thinking in decades and not days, this trio of dividend stocks could be the perfect starting point for your fledgling portfolio.

If investing were easy, everyone would be doing it. Don't feel bad or give up before you start because investing is a daunting task. World famous investor Warren Buffett has extolled the virtues of temperament, saying its more important for investors than high intellect.

Here are three stocks that can help you learn about investing as you go, providing you with "training wheels" as you get your head around your investing temperament.

Image source: Getty Images.

Merck is ready for the cliff
Merck (MRK +0.19%) is a pharmaceutical company. The drug industry is highly technical and competitive and it has some very specific risks to consider before you jump in.

One of the big ones is the fact that new drugs are given a period of exclusivity on the market. But when those patents expire, revenues from a drug can fall off sharply in what is known as a patent cliff. Merck is no different in this regard from many of its peers, some of which have sharply higher dividend yields.

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This is where another important metric comes in. Merck's dividend payout ratio is a very reasonable 50% or so. That compares to a roughly 90% payout ratio for peer Pfizer. Both companies are dealing with upcoming patent cliffs, but Merck is simply in a better position to sustain its dividend while dealing with that headwind.

If you are looking to dip your toes into the drug space, Merck is probably a good choice. The stock's 3.7% yield isn't the highest in the sector (Pfizer's yield is 7%, for example), but it is well above the 1.1% industry average.

2. Enbridge is a boring energy stock
The energy sector is generally known for being highly volatile, but it doesn't have to be if you buy the right stocks. Enbridge (ENB +1.54%) largely operates a toll-taker business, charging fees for moving oil and natural gas from where they are produced to where they are used. It doesn't actually care all that much about commodity prices, demand is the bigger factor in its financial results.

In addition to the energy infrastructure assets it owns, the company operates regulated natural gas utilities and a small portfolio of contract-based renewable power assets. Basically, everything the Enbridge does is boring, by design.

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What isn't boring about Enbridge is its dividend. With a hefty 5.9% dividend yield, you are not only vastly outstripping the 1.2% you'd get from an S&P 500 index ETF but also getting well more than the 3.2% average for the energy sector. Notably, Enbridge has increased its dividend annually, in Canadian dollars, for three decades and counting. If you want to start learning about the volatile energy sector, Enbridge is a low-risk way to get in the door.

3. Bank of Nova Scotia is in turnaround mode
There are a lot of fairly low-risk finance companies you could buy to help you learn the ropes of the industry. But Bank of Nova Scotia (BNS +0.46%) is a special situation that deserves extra attention. Not only is the yield quite high at 4.8%, but the company is actually working on turning around its business right now. If you want to find out about investing in turnaround stocks, Scotiabank, as it is more commonly known, is a great opportunity to examine.

There are a few good reasons to take a risk on Scotiabank. First, it is a Canadian bank, which means it has to live under the strict banking regulations in its home country. These rules have given it an entrenched position in its home market and imbued management with a generally conservative ethos throughout all of its operations. Second, Scotiabank has paid a dividend every year since 1833. This is no fly-by-night business and returning value to shareholders via dividends is clearly important.

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As for the turnaround, the big story is the company refocusing its efforts around North America as it exits less desirable operations in Central and South America. It will take some time to make the needed changes, but so far Scotiabank has been working quickly. Keep an eye on its efforts and you'll see what a strong company does when it needs to reset its business for the future.

Don't rush in, take is slow
No one just knows how to invest. You need to learn and that takes time. Start by reading about some of the masters of the craft, like Warren Buffett. And then start slowly, buying one or two stocks so you can learn. Starting with attractive low-risk stocks like Merck, Enbridge, and Bank of Nova Scotia will help keep you from getting in over your head.

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. I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given that any particular security, portfolio, transaction or investment strategy is suitable for any specific person. The author is not advising you personally concerning the nature, potential, value or suitability of any particular security or other matter. You alone are solely responsible for determining whether any investment, security or strategy, or any product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. Steven Cress is the Head of Quantitative Strategy at Seeking Alpha. Any views or opinions expressed herein may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank.

Monthly Chart Of The S&P 500 (SPY) - Another UP Month

Image & Data Courtesy of BreakoutsAndSetups.com

November Stock Market Review: When the Market Refused to Break

For investors, November felt like watching a movie that started as a thriller and ended as a feel-good comeback story. The month opened with worry, confusion, and a lot of selling (red)—but finished with one of the most powerful late-month rallies in modern market history. Despite the noise, doubt, and plenty of opportunities for stocks to collapse, the market showed something rare = resilience.

A Rough Opening: PLTR Sparks AI Valuation Fears

The selling began in early November when Palantir Technologies, an institutional AI sweetheart, reported quarterly results early in the month. Investors were hoping for continued blockbuster growth tied to artificial intelligence. Instead, the report was good but the stock sold off — and that triggered a slew of AI stocks to sell off as questions arose regarding AI valuations.

AI-linked stocks had priced in near-perfection. Their valuations were stretched, optimism was sky-high, and suddenly, Palantir’s good-but-not-dazzling report made people wonder if the AI boom had gone too far too fast.

That single spark lit a short-term fire of doubt across AI stocks and the entire technology sector. Traders began trimming positions in other high-priced names like Nvidia, Microsoft, Palantir and other AI related stocks. Shares of AI-focused firms stumbled, taking the Nasdaq 100 and the reset of the market lower in the first few weeks of November. Then, in the latter half of November, Nvidia, another AI institutional sweetheart, tanked after reporting earnings. For a moment, it looked like the market would have entered a steep correction. Instead, it rallied. Remember, we are in a bull market and in bull market’s surprises happen to the upside, not the downside.

Fear to Hope: The Market Holds Its Ground

But something happened that caught even seasoned investors off guard: the market didn’t break, instead it rallied sharply - all in the last few trading days of the month. It was enough of a rally to help almost all the major indices turn UP on the month (or close in the upper half of their monthly ranges -which is a sign of strength).

Even as fears of “AI bubbles” and “valuation resets” swirled through trading desks, the broader market refused to panic. This was the first sign that the underlying bid—the steady demand for equities—was still alive and well.

Then Came the Rally: A Historic Surge

The last week of November was nothing short of extraordinary on Wall Street.

Like a sprinter finding a second wind, the market exploded higher. The Dow Jones Industrial Average surged, the S&P 500, and just about all the other major indices soared and turned higher for the month. Even many lagging sectors joined the party.

Analysts scrambled to find an explanation. Some credited easing Treasury yields. Others pointed to short covering, improving technical conditions, and hope that the Fed’s rate cuts might help the market rally. But whatever the reason, what mattered most was the price action itself—because the tape doesn’t lie.

By the end of the month, the rally was so strong that it ranked among the biggest late-month surges in history. Every major index except for the Nasdaq and Nasdaq 100 closed higher for the month, defying early November expectations of a possible correction. It was a comeback for the ages.

The Nasdaq’s Odd Position

While the broad market came roaring back, the Nasdaq 100 failed to close November in positive territory. On one hand, that looks strange—given that tech led most of 2023 and much of 2024. On the other, it makes sense.

After months of relentless gains, some of the market’s biggest winners simply ran too far ahead of themselves. Nvidia stayed volatile. Apple traded sideways. Amazon and Meta Platforms consolidated. The Nasdaq 100 didn’t collapse—it just took a breather while the rest of the market caught up. I call this pattern, the Great Mini Rotation.

Possible Head & Shoulders Top?
From a technical perspective, some chart watchers see the potential beginnings of a “head and shoulders” pattern forming at the top of the Nasdaq 100’s range. If the index moves sideways from here and then rolls over, the current bounce could end up forming the right shoulder of that bearish pattern. That’s not a forecast, but a reminder that market leadership can rotate—and sometimes needs to reset before going higher. To be clear, this is pattern will not be confirmed until November’s lows are breached.

Potential Head & Shoulders Top Forming

Image Courtesy of BreakoutsAndSetups.com

A Market That Refused to Fall

Still, what stands out most about November is how much didn’t happen.

The economy didn’t suddenly collapse. Earnings, while uneven, weren’t disastrous. Inflation continued to cool. And perhaps most strikingly, the wall of worry that had built up over the summer and early fall didn’t trigger a broad sell-off.

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That’s what made this last rally so special—it didn’t come from euphoria or excess liquidity. It came from resilience. From buying the dip not because of fear of missing out, but because the fundamentals didn’t justify panic.

For the first time in months, investors seemed to remember a basic market truth: it’s not just the news that matters—it’s how the market reacts to it.

Rotation, Relief, and Renewal

Beyond the headlines, November also told a quiet but powerful story about rotation.
As tech paused, cyclicals and value names began to shine. Financials caught steady interest. Healthcare stabilized. Energy firms saw renewed inflows and metals/gold and silver stocks soared. Even smaller-cap stocks—long ignored during the mega cap mania—came back to life and the Russell 2000 closed up on the month.

This is what I call the Great Mini Rotation - read here - it reinforces a healthier market tone. When one sector cools while another steps up, the result is balance—and that balance keeps bull markets alive far longer than narrow leadership ever could. The late-November wave was not just a story of price gains, but a reminder that participation matters.

Looking Ahead: Momentum Meets Caution

Heading into December, the market looks strong and momentum remains powerful. Breadth has improved. The Fed will likely cut rates, and we are entering a seasonally strong period for stocks. The well-known “Santa Claus rally” effect—is in play as we head into year-end.

Still, traders will be watching whether the Nasdaq 100 can clear resistance and rejoin the rally, or if it starts building that possible right shoulder pattern and rolls over. If it breaks lower from here, it could signal a short-term pause before the next leg higher.

But the broader story remains encouraging: when the market had every chance to break, it held firm. And when the fear faded, it soared.

Markets rarely deliver such clear messages, but November’s was unmistakable: strength still lives beneath the surface.

Final Thoughts: Rally With a Message

November didn’t just produce a rally—it produced a statement.

Markets stared down uncertainty, valuation fears, and a shaky start, then surged to finish strong. The Nasdaq 100 may still be showing a few technical warning signs, but the story underneath is one of strength, not fragility.

We witnessed one of the biggest late-month rallies in history, built not on speculation, but on perseverance. In simpler terms, the market had every reason to fall—and instead, it chose to climb. That, more than any pattern or data point, tells you what kind of market this is: a strong one. Looking forward, as long as we stay above November’s low, the bulls are in control.

-  Utilizing Ascletis' Peptide Oral Transport ENhancement Technology (POTENT), ASC37 oral tablets achieved average absolute oral bioavailability of 4.2%, approximately 9-, 30-, and 60-fold higher than semaglutide, tirzepatide, and retatrutide in the oral SNAC formulation, respectively, in head-to-head non-human primate (NHP) studies.

-  ASC37 oral tablets' drug exposure, as measured by the area under curve (AUC), was approximately 57-fold of retatrutide's drug exposure in head-to-head NHP studies.

-  Average observed half-life of ASC37 oral tablets was approximately 56 hours in NHP studies, supporting once daily and less frequent oral dosing.

-  ASC37 in vitro activity was approximately 5-, 4- and 4-fold more potent than retatrutide for GLP-1R, GIPR and GCGR, respectively.

-  Submission of an Investigational New Drug Application (IND) to the U.S. Food and Drug Administration (FDA) for ASC37 oral tablets is expected in the second quarter of 2026.

-  The Company will host a conference call in Mandarin at 10:00 a.m. China Standard Time on December 1, 2025.

, /PRNewswire/ -- Ascletis Pharma Inc. (HKEX: 1672, "Ascletis") announces that it has selected ASC37 oral tablets, its first oral GLP-1R/GIPR/GCGR[1] triple peptide agonist, as a clinical development candidate. Ascletis expects to submit an Investigational New Drug Application (IND) to the U.S. Food and Drug Administration (FDA) for ASC37 oral tablets for the treatment of obesity in the second quarter of 2026.

ASC37 oral tablets is the Company's first incretin drug candidate developed with its proprietary Peptide Oral Transport ENhancement Technology (POTENT). 

ASC37, a GLP-1R, GIPR, and GCGR triple peptide agonist, was discovered and optimized in-house utilizing Ascletis' Artificial Intelligence-Assisted Structure-Based Drug Discovery (AISBDD). ASC37 in vitro activity was approximately 5-, 4-, and 4-fold more potent than retatrutide for GLP-1R, GIPR and GCGR, respectively.

Utilizing Ascletis' POTENT technology, ASC37 oral tablets achieved average absolute oral bioavailability[2] of 4.2%, which was approximately 9-, 30-, and 60-fold higher than semaglutide, tirzepatide, and retatrutide in the oral SNAC [3] formulation, respectively, in head-to-head non-human primate (NHP) studies. Furthermore, after oral administration, ASC37 oral tablets' drug exposure, as measured by the area under curve (AUC), with the POTENT formulation was approximately 57-fold of retatrutide's drug exposure with the oral SNAC formulation, in head-to-head NHP studies.

Average observed half-life of ASC37 oral tablets was approximately 56 hours in NHP studies, supporting once daily and less frequent oral dosing.

 "Selection of ASC37, a promising oral GLP-1R/GIPR/GCGR triple peptide agonist, for clinical development once again demonstrates our strong R&D capabilities and our commitment to address the unmet needs for the treatment of obesity," said Jinzi Jason Wu, Ph.D., Founder, Chairman and CEO of Ascletis, "Leveraging our proprietary technology platforms, including AISBDD and POTENT, Ascletis has successfully established a highly competitive, differentiated and diverse pipeline portfolio which can potentially effectively address the various treatment needs of patients with obesity and other metabolic diseases."

[1] GLP-1R: glucagon-like peptide 1 receptor, GIPR: gastric inhibitory polypeptide receptor, GCGR: glucagon receptor

[2] absolute oral bioavailability: the percentage of an orally administered drug that reaches the systemic circulation (bloodstream), compared to an intravenous (IV) dose of the same drug

[3] SNAC: Salcaprozate Sodium

Conference Call

Ascletis will host a conference call in Mandarin at 10:00 a.m. China Standard Time on December 1, 2025. A live webcast of the call will be available via Tencent Meeting/ VooV Meeting, with the Meeting ID: 495-266-842, or access links of:

Chinese Mainland: https://meeting.tencent.com/dm/10ve6whW8Rbl; or

International: https://voovmeeting.com/dm/10ve6whW8Rbl.

About Ascletis Pharma Inc.

Ascletis Pharma Inc. is a fully integrated biotechnology company focused on the development and commercialization of potential best-in-class and first-in-class therapeutics to treat metabolic diseases. Utilizing its proprietary Artificial Intelligence-Assisted Structure-Based Drug Discovery (AISBDD) and Ultra-Long-Acting Platform (ULAP) technologies as well as Peptide Oral Transport ENhancement Technology (POTENT), Ascletis has developed multiple drug candidates in-house, including both small molecules and peptides, such as its lead program, ASC30, a small molecule GLP-1R agonist designed to be administered once daily orally and once monthly to once quarterly subcutaneously as a treatment therapy and a maintenance therapy for chronic weight management; ASC36, a once-monthly subcutaneously administered amylin receptor peptide agonist, ASC35, a once-monthly subcutaneously administered GLP-1R/GIPR dual peptide agonist and ASC37, an oral GLP-1R/GIPR/GCGR triple peptide agonist for chronic weight management. Ascletis is listed on the Hong Kong Stock Exchange (1672.HK).

For more information, please visit www.ascletis.com.

Contact：

Peter Vozzo
ICR Healthcare
443-231-0505 (U.S.)
[email protected] 

Ascletis Pharma Inc. PR and IR teams
+86-181-0650-9129 (China)
[email protected]
[email protected] 

SOURCE Ascletis Pharma Inc.

After a strong, short Thanksgiving week for U.S. stocks, a busy schedule of economic indicators and corporate earnings awaits.

Private sector payrolls for November could prove a highlight, though market watchers will have to wait until later in December to get the government's latest monthly jobs report, which was delayed by the government shutdown. Reports on consumer credit and sentiment, along with fresh data on the manufacturing and services sectors, are also expected.

Several large tech companies, including customer relationship management software leader Salesforce, cybersecurity provider CrowdStrike, and Marvell Technology, are set to report earnings this week. Reports from dollar stores Dollar Tree and Dollar General could provide insights on consumer spending.

Read to the bottom for our calendar of key events—and one more thing.

Cyber Monday Sales, Sentiment Data to Shine Spotlight on Consumers
This is set be another important week for America's retailers, with online sales from the five-day stretch from Thanksgiving through Cyber Monday expected to total $78 billion, according to Salesforce.

Data scheduled for release Friday could also shine a spotlight on how consumers are feeling, with the first reading of the University of Michigan consumer sentiment survey for December. Later on Friday, the Federal Reserve’s consumer credit report could offer insights into how much debt American shoppers are taking on.

While some fresh data on private payrolls will become available this week, investors will have to wait a bit longer for the government's next monthly jobs report after its release was pushed back to Dec. 16. The private-sector ADP employment report, scheduled for Wednesday, comes after a stronger than expected report in October.

Federal Reserve Chair Jerome Powell is set to deliver remarks on Monday evening amid growing optimism about a rate cut when the central bank meets the following week.

Big Software Names and Dollar Stores Report This Week
Salesforce’s earnings on Wednesday could inject more enthusiasm into the AI trade after the software provider laid out a strong revenue forecast pointing to strong demand for its AI offerings. Custom semiconductor solutions provider Marvell Technology, database provider MongoDB, and data storage firm Pure Storage are also set to release results that could reflect a boost from AI-related demand.

Cybersecurity firm CrowdStrike reports on Tuesday after it delivered a better-than-expected forecast for annual recurring revenue in the prior quarter. Security firms Snowflake and Okta are also scheduled to report this week. Results from dollar stores Dollar Tree and Dollar General could offer more insights on shifting consumer preferences. 

Quick Links: Recap Last Week’s Trading | Latest Markets News 

This Week’s Calendar
Monday, Dec. 1

Cyber Monday
ISM manufacturing PMI (November)
More Data to Watch: S&P final U.S. manufacturing PMI (November)
Federal Reserve Officials Speaking: Fed Chair Jerome Powell
Key Earnings: MongoDB (MDB)

Tuesday, Dec. 2

Federal Reserve Officials Speaking: Fed Vice Chair for Supervision Michelle Bowman
Key Earnings: CrowdStrike (CRWD), Bank of Nova Scotia (BNS), Marvell Technology (MRVL), Pure Storage (PSTG), Okta (OKTA), GitLab (GTLB)

Wednesday, Dec. 3

ADP employment (November)
More Data to Watch: Import price index (September), ISM services PMI (November), S&P final U.S. services PMI (November)
Key Earnings: Salesforce (CRM), Royal Bank of Canada (RY), Snowflake (SNOW), Dollar Tree (DLTR)

Thursday, Dec. 4

Initial jobless claims (Week ending Nov. 29)
Federal Reserve Officials Speaking: Fed Vice Chair for Supervision Michelle Bowman
Key Earnings: Toronto Dominion Bank (TD), Bank of Montreal (BMO), Canadian Imperial Bank of Commerce (CM), Kroger (KR), Hewlett Packard Enterprise (HPE), Ulta Beauty (ULTA), Dollar General(DG)

Friday, Dec. 5

Consumer sentiment - preliminary (December)
More Data to Watch: Consumer credit (October)
Key Earnings: Victoria’s Secret (VSCO)

One More Thing
The holiday season is here and if your plans include giving gifts to family and friends, you could qualify for a tax break. Investopedia’s Trina Paul has more on the rules and limits for the IRS’s gift tax exclusion here.

Do you have a news tip for Investopedia reporters? Please email us at

[email protected]

TLDR:

Ethereum tests realized price support where whale wallets have historically reversed downtrends successfully
ETH trades at $3,007 with 7% weekly gains as accumulation addresses increase buying activity significantly
Critical support zone spans $2,850 to $3,350 with bulls defending local lows to maintain structure
On-chain metrics point to upside risk as large holders accelerate purchases at historical support levels

Ethereum is trading at a pivotal support zone as accumulation data points to increased whale activity. The asset currently sits at $3,007.58 with a modest 24-hour decline of 0.03% despite posting weekly gains of 7.04%. 

Trading volume reached $11.59 billion in the past day according to CoinGecko. Market participants are watching closely as price action tests levels that have historically marked reversal points.

ETH price on CoinGecko
Ethereum Whale Wallets Target Realized Price Support
The realized price for ETH accumulation addresses has become a focal point for large holders. This metric represents the average cost basis for long-term buyers and institutional wallets. 

Data shared by CryptosRus shows that Ethereum has tagged this level multiple times, with each instance preceding upward price movement. The current price action mirrors previous patterns where whale wallets increased their positions rather than reducing exposure.

Source: CryptosRUs/X
Large holders have not slowed their buying despite recent volatility. The realized price line has functioned as a support mechanism during past cycles. 

Whales appear to view current levels as attractive entry points based on their cost basis analysis. This behavior contrasts with typical distribution patterns seen during market tops.

The convergence of price and realized cost creates what some view as asymmetric risk conditions. Historical data suggests that when ETH reaches this threshold, downside risk diminishes while upside potential increases. 

The pattern has repeated across multiple market cycles with notable consistency. Current accumulation trends align with previous bottom formations rather than continuation patterns.

Key ETH Support Levels Define Near-Term Direction
Technical analysis from Daan Crypto Trades identifies $2,850 as the lower boundary of the critical support zone. The upper resistance sits at $3,350 based on recent price structure. 

A weekly close above current levels would strengthen the bullish case for trend continuation. Bulls need to defend the local lows to maintain the support structure intact.

The $3,000 handle represents psychological significance beyond technical metrics. 

Breaking below $2,850 would invalidate the current setup and potentially trigger further downside. Conversely, reclaiming $3,350 could open the path toward higher targets. The range between these levels will likely determine short-term directional bias.

$ETH Good hold of the key support area for now.

Looks like this weekly close is going to be a decent one.

From here on out you got a very clear invlidation below these local lows. That is a key area to defend for the bulls.

$2850 & $3350 are the levels that matter in this… https://t.co/p25W965813 pic.twitter.com/FVAH1wyTaC

— Daan Crypto Trades (@DaanCrypto) November 29, 2025

Market structure suggests that Ethereum is at an inflection point. 

The combination of whale accumulation and technical support creates conditions typically associated with trend reversals. Price action in the coming sessions will either confirm the support hold or signal a deeper retracement. 

Volume profiles show consistent buying interest at current levels across spot markets.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The US Bitcoin Spot ETFs have produced a positive turnaround following four prior weeks of consistent outflows. In line with Bitcoin’s price recovery, these investment funds also ended a bleeding month of losses on a moderately positive note.

Bitcoin Spot ETFs Begin Recovery From Red November
According to the ETF tracking site, SoSoValue, Bitcoin Spot ETFs registered a net inflow of $70.05 million in the last week of November, to provide relief to a rather draining month. Notably, this reported figure represents the first positive netflow in four weeks, stretching since the last week of October. In analyzing individual ETF performance, BlackRock’s IBIT, valued at $51.55 per share, was largely unaffected by Bitcoin’s recovery, resulting in net outflows of $137.01 million. However, its cumulative net inflow still stands at $62.57 billion, retaining its status as the undisputed market leader. 

Other ETFs that also remained under bearish influence include Bitwise’s BITB and VanEck’s HODL, with aggregate outflows of $18.10 million and $36.95 million, respectively. On the other hand, the majority of the positive momentum came from Fidelity’s FBTC, which registered net inflows valued at around $230.44 million. Meanwhile, Grayscale’s duo GBTC and BTC, alongside Ark Invest’s ARKB, recorded a combined $31.65 million in net deposits.

Other funds such as Invesco’s BTCO, Valkyrie’s BRRR, Franklin Templeton’s EZBC, WisdomTree’s BTCW, and Hashdex’s DEFI recorded no significant netflow. Following this recent modest recovery, the Bitcoin spot ETFs closed November with total net outflows of $3.48 billion. At the time of writing, the cumulative total net inflow for these investment funds stands at $57.71 billion, while total net assets are valued at $119.39 billion, representing 6.56% of the Bitcoin market cap.

Ethereum ETFs Not Excluded From Recovery Party 
According to SoSoValue, the Ethereum Spot ETFs also experienced a market rebound following three consecutive weeks of outflows. Over the last week, these products attracted net deposits of $312.62 million to bring the cumulative total net inflows to $12.94 billion.

BlackRock’s ETHA and Fidelity’s FETH accounted for the majority of this positive netflow with net deposits of $257.18 million and $45.3 million, respectively. The Ethereum Spot ETFs now boast of total net assets of $19.14 billion, representing 5.19% of ETH’s market cap. At press time, Ethereum continues to trade at $2,991 after a minor 1.64% decline in the past day. Meanwhile, Bitcoin remains in consolidation around $90,840.

BTC trading at $90,937 on the daily chart | Source: BTCUSDT chart on Tradingview.com
Featured image from Reddit, chart from Tradingview

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Semilore Faleti works as a crypto-journalist at Bitconist, providing the latest updates on blockchain developments, crypto regulations, and the DeFi ecosystem. He is a strong crypto enthusiast passionate about covering the growing footprint of blockchain technology in the financial world.

TLDR:

Table of Contents

TLDR:Fed Policy Shift Coincides With End of Quantitative TighteningLabour Market Data May Drive Rate Cut Expectations HigherGet 3 Free Stock Ebooks

Powell speaks December 1 as Fed ends three-year quantitative tightening program simultaneously
Markets price 87 percent chance of December rate cut ahead of upcoming FOMC meeting decision
Altcoins outperformed Bitcoin for months after 2019 QT ended with similar market structure today
Labour market weakness versus inflation focus will determine if crypto rally continues or retraces

Federal Reserve Chair Jerome Powell will deliver a major economic address on December 1. The speech arrives just days before the Federal Open Market Committee meeting. Markets have already priced in an 87 percent probability of a December rate cut.

Powell’s remarks will likely set the tone for cryptocurrency markets heading into 2025.

Fed Policy Shift Coincides With End of Quantitative Tightening
The Federal Reserve is officially ending its quantitative tightening program on December 1. The central bank has run QT for over three years. 

Historical patterns suggest significant implications for digital assets. The last time QT ended in 2019, alternative cryptocurrencies outperformed Bitcoin for several months.

That strength persisted even through the 2020 market crash. When quantitative easing resumed, altcoins entered an extended uptrend. The current market structure mirrors that earlier period. Traders are watching for any indication about when the Fed might restart asset purchases.

The timing creates a unique moment for crypto markets. Powell’s speech lands on the same day QT concludes. Global monetary conditions are also shifting. Japan, China, and Canada have already begun easing or are preparing policy adjustments.

Any signal from Powell that aligns with global easing could boost liquidity expectations. Cryptocurrency markets typically react faster than traditional assets to such shifts. 

The previous Powell speech took a hawkish stance and immediately weakened Bitcoin momentum. This time, market participants are looking for different signals.

DECEMBER 1ST COULD DECIDE THE DIRECTION OF BITCOIN AND ALTS FOR THE NEXT FEW MONTHS.

➞ On December 1st, Jerome Powell will deliver a major speech about the economy, inflation, labour markets and future monetary policy.

This speech comes just a few days before the FOMC… pic.twitter.com/8VzIYX0lB7

— Crypto Rover (@cryptorover) November 29, 2025

Labour Market Data May Drive Rate Cut Expectations Higher
Powell’s focus during the speech will be critical for near-term price action. 

If he emphasizes weakening labour market conditions over inflation concerns, rate cut probability becomes nearly certain. That shift alone could support the current relief rally in Bitcoin and altcoins.

The market faces two clear scenarios. 

A signal indicating room for additional rate cuts would likely strengthen crypto prices. Conversely, if Powell suggests the Fed cannot cut much further, the recent rally could retrace. 

The entire setup depends on how the central bank frames its next policy phase.

Inflation stability through tariffs and other policy tools remains a key variable. Unemployment continues moving toward concerning levels. If both trends hold, markets will expect more rate cuts through 2026. However, any focus on rising inflation could trigger a downturn.

Powell’s December 1 remarks come at a pivotal moment for digital assets. 

Bitcoin and altcoins have shown strength in recent weeks. The speech will either confirm or challenge current market positioning. Traders are prepared for immediate volatility following his comments.

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Although it may appear neutral on the surface, Shiba Inu’s successful flatlining across key on-chain metrics is typically not a bullish signal. Exchange inflow, outflow, burned supply, transfer count and active addresses are all at or close to zero change over the past day, according to the most recent data at the time of the writing.

The metrics that did move, such as reserve slightly declining and netflow further declining into negative territory, are insufficient to make up for how stagnant everything else has become.

SHIB is losing steamLow-liquidity trading hours are partially to blame for this stagnation, since weekends generally slow down market activity. However, sentiment is the greater issue, meaning meaningful participation in SHIB is simply lacking. When all of the flow metrics freeze, it typically indicates that no significant cohort is preparing for a breakout, no one is panic-selling, and no one is actively buying.

HOT Stories

SHIB/USDT Chart by TradingViewThis lack of conviction is reflected in the price movement. SHIB continues to be under pressure from all major moving averages and is still struggling below $0.0000090. The volume behind recent candles is weak, and attempts to push higher run into immediate resistance around the 20-day EMA. Lower highs, lower lows and no sign of a breakout structure indicate that the general trend has not changed.

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The idea that the market is drifting rather than gaining momentum is reinforced when the RSI is in the mid-40s. Theoretically, the slight negative netflow, roughly -64.9 billion SHIB, is bullish because more tokens leaving exchanges lessen the pressure to sell, but with activity this low, it does not indicate impending upside. It does not mean buyers are taking charge, rather it simply indicates that sellers are not motivated at the moment.

How to treat current market dynamic?This type of setting is a waiting room for investors. It is unlikely that SHIB will produce significant price movement in either direction until volume increases and on-chain participants begin to move again. The upcoming sessions will reveal whether SHIB reawakens or keeps drifting sideways, particularly after the weekend lull.

The market is currently uninterested in Shiba Inu, and indifference is frequently the most pessimistic state of all, not because the price plummets, but because nothing occurs when the trend needs to change.

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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Bitcoin price is holding firm above $91,000 as traders watch for a stronger recovery. The market has improved after a difficult November that pushed BTC to a seven-month low near $82,000. There is also a change in sentiment with a positive Coinbase premium indicating a new demand. 

Bitcoin has gained about 7% this week, strengthening its bullish outlook. Analysts now view a potential run toward $100,000 as momentum continues. 

The expectation boom towards a December cut in the Federal Reserve rate has brought market odds as close to 86%. Traders perceive an increased likelihood of a third policy easing this year, which facilitates larger risk sentiment.

Bitcoin price is gaining new momentum as investors react to better liquidity conditions and altered macro expectations. Ether price hovered above the $3,000 area and is aiming at increased growth in the future before the Fusaka upgrade on December 3.

Other large cryptocurrencies, such as XRP, appear to be on the rise. There is a rise in demand too, prior to the launch of the 21Shares U.S. spot XRP ETF under the ticker of TOXR on Monday.

Bitcoin Price Eyes 100K, Analyst Sees Breakout
A crypto analyst has reported that a wedge of decline is developing on the four-hour chart of Bitcoin. Buyers are finding it difficult to overcome the resistance rate above the $93,000 resistance area, which is still restricting them.

A decisive release and hard grip on this point can result in an opportunity to reach a new high of $100,000. The analyst notes that all these obstacles will have to be overcome to restore the mood of bullishness. The Bitcoin price is trying to stabilize and recover following the recent market pressure.

$BTC Descending Broadening Wedge formation on the 4h timeframe Chart..!!

Bitcoin bulls are still struggling to reclaim the 93k Resistance zone.

Once they Break & hold above it, next major hurdle will be the 100k level..

Clearing these key Resistance levels is essential for… pic.twitter.com/KjIvqV9g1G

— Captain Faibik 🐺 (@CryptoFaibik) November 30, 2025

Coinbase Bitcoin Premium Index Signals Rising U.S. Demand
Coinbase Bitcoin Premium Index has just become positive in recent weeks, following weeks of negative values. The move is an indicator of increased U.S. interest in Bitcoin. Analysts consider the move a rebirth of buying pressure. 

The index determines the price of Coinbase in comparison with the world averages. The positive level indicates the high demand of the American traders. The market watchers are now expecting that more action shall be taken in case the trend is going to be continues. 

Source: Tweet
Will Bulls Defend the $90K Zone Again?
At the time of writing, the BTC price climbed to $91,371, showing a steady surge over the past 24 hours. The chart indicates a recovery phase after last week’s sharp decline, with buyers defending the $90,000 support zone.

The MACD indicator offers a mixed momentum. The signal and MACD lines are still not lower than the ones of the recent past, but they indicate a slight decrease in the strength of the upward movement. 

Source: BTC/USD 4-hour chart: Tradingview
If the recovery continues, the future Bitcoin outlook appears constructive. A clear break above $93,000 could open the path toward $95,000. A sustained push through that area may allow BTC to retest the psychological $100,000 barrier in the weeks ahead.

Nevertheless, with the sellers back in control, BTC might retrace the $90,000 support. Such a failure to do so could invite further pressure and undermine existing bullish predictions.

Journalist

Posted: November 30, 2025

Hyperliquid $9.5 billion token unlock on the 29th of November, didn’t exert selling pressure as earlier anticipated. 

According to on-chain analyst Kirby Crypto, tracking the post-unlock distribution, only 23% (609K tokens) of the 1.75 million HYPE tokens were sold via OTC desks. He added, 

“Overall, there is far more hodling and re-staking over selling. If future unlocks are the same, unlock pressure would be far lower than expected.”

Source: X

About four of the wallets re-staked 234.6K HYPE (9% of unlock supply), and the team also restaked another 854K HYPE (33% of unlock) via Hyperlabs. 

Collectively, over 40% of the unlocked tokens were restaked, while the remaining 35% were held by the other team members. 

Mapping earlier HYPE selling fears 
Hyperliquid became an instant success after debuting in Q1 2023, as it was the first DEX that felt like a CEX, while remaining fully on-chain and transparent. 

The project had no venture capital (VC) backing, hence no infamous VC dump during the token generation event (TGE). As such, the HYPE token, which debuted in Q4 2024, surged from about $4 to a peak of $59 in 2025. 

However, Aster, Lighter, and other competitive DEXs emerged, threatening to erode its perpetual market share.

Additionally, its monthly token unlock, starting with last week’s event, was viewed as bearish by top voices like BitMEX founder Arthur Hayes. 

In fact, Hayes estimated that the selling pressure from the unlocks, especially those linked to the team, would amount to about $12 billion over the next 24 months based on HYPE’s price at that time. 

This translated to a $500 million per month selling pressure that couldn’t be offset by the buyback program, according to Hayes. 

At $85 million per month, the buyback could only absorb 17% of the dump, forcing Hayes to sell most of his HYPE holdings and further soured the market sentiment.

Indeed, the monthly buyback remained at nearly the rate he projected ($82 million for November). 

Source: Tokenomist

HYPE sparks whale interest
However, the selling pressure of 609K HYPE (about $20 million) from the recent unlock meant a 96% lower than Hayes’ $500 million projection. In fact, the monthly buyback was 4x more than the unlock pressure. 

Notably, HYPE slipped slightly by 1.7% during the unlock on the 29th of November. It traded at $33.80 at press time, underscoring that the unlock was a non-event. 

Source: CryptoQuant

Besides, there has been large whale activity at the recent lows, suggesting likely rising accumulation at current levels.

Final Thoughts

HYPE experienced 96% lower selling pressure linked to unlock than projected by Hayes. 
There was a renewed whale interest at current levels, which could bolster HYPE’s recovery if the broader market sentiment improves. 

Ethereum price has slipped in the past few months, coinciding with the ongoing crypto market crash.

Summary

Ethereum price has formed the bullish falling wedge pattern. 
The network will launch the Fusaka upgrade on Wednesday.
Tom Lee’s BitMine has continued buying ETH tokens this year.

Ethereum (ETH) token was trading at an important support level at $3,000 on Sunday, down by nearly 40% from its highest level this year.

Still, the token has numerous catalysts that may boost its price in the coming weeks. One of the main catalysts is the upcoming Fusaka upgrade, which will happen on December 3 this year.

Fusaka will be an important upgrade that will introduce some notable behind-the-scenes features as the network continues to improve. The most notable upgrade will be the Peer Data Availability Sampling, which will enable validators to verify rollup blob data without downloading everything. 

By implementing this feature, the network will reduce the bandwidth and storage needs while enabling much higher throughput. 

Fusaka will also introduce verkle trees, predictable blob fees, and history expiry tweaks. It will help the network continue to gain market share in key industries like DeFi and Real-World Asset tokenization industries. 

This growth and continued innovation explains why some notable investors have continued to buy ETH. The most notable one is Tom Lee, who has spent billions of dollars through his BitMine Immersion company. BitMine, which top investors like Cathie Wood and Peter Thiel back, holds ETH tokens worth over $10 billion in the past few months. 

https://twitter.com/TedPillows/status/1994843806944907497

Ethereum price technical analysis 
ETH price chart | Source: crypto.news
The daily chart reveals that the ETH price has slumped in the past two months. This crash was mostly triggered by the large liquidation event that cost investors billions of dollars in a day. 

The coin has some notable bearish technicals, including being below the 50-day and 100-day moving averages. That is a sign that bears remain in control, as evidenced by the Supertrend indicator. 

On the positive side, Ethereum price has formed a giant falling wedge pattern. This is a common pattern made up of two descending and converging trendlines. 

The two lines of the MACD indicator have formed a bullish crossover, which is a bullish sign. Also, the Relative Strength Index (RSI) has pointed upwards and is slowly nearing the neutral point at 50. 

Therefore, there is a likelihood that the token will rebound in the coming days. If this happens, the token will likely rise to the key resistance at $3,500. A move below the support at $2,635 will invalidate the bullish outlook.

TLDR:

Sahara AI token dropped 43% in one day with no identified security breach or token unlock event
Team confirmed smart contracts and infrastructure remain secure after thorough technical review
Trading volume surged past $316 million as investors reacted to the dramatic price movement
Project roadmap for 2026 includes AI infrastructure expansion and new agentic protocols

Sahara AI’s native token lost over 40% of its value in a single day. The crypto project’s leadership moved quickly to address community concerns. 

Trading data from CoinGecko shows SAHARA at $0.04133 with volume exceeding $316 million. The seven-day decline now sits at 47%.

Team Responds to Market Chaos
The project’s official account posted an initial statement about monitoring the situation. Leadership confirmed they launched an internal investigation into the price movement. 

They stressed that no security threats or product issues exist on the platform. Core operations and strategic plans remain on track according to the team.

Sean Ren later provided a detailed update via social media. 

He confirmed that all token smart contracts passed security reviews. The infrastructure showed no signs of exploits or unauthorized access. Technical teams completed their audit of core systems before issuing the statement.

The update specifically addressed circulating theories about token sales. 

No unlock events triggered the price drop according to Ren. The project held its token generation event in June 2025. Core contributor and early investor tokens remain locked until June 2026 per the original schedule.

We appreciate the patience from the community. Sharing some updates:

Token and infra are secure
Right after observing the major market movement, we have reviewed and confirmed that all token smart contracts and core infrastructures have been secure, with no signs of exploits or…

— Sean Ren (@xiangrenNLP) November 29, 2025

Strategic Focus Continues Despite Volatility
Sahara AI outlined three priorities for 2026 in the update. The team plans to expand AI infrastructure for professional services. 

Data labeling operations will see increased investment alongside domain-specific agent development. A second priority involves building agentic protocols for agent interaction and revenue sharing.

The third focus area targets crypto user experience improvements. The project aims to deploy applications that bridge AI and blockchain technology. These plans proceed unchanged despite the market turbulence.

Trading volume reached notable levels during the downturn. The $316 million figure represents significant market activity for the token. Price discovery continues as traders digest the team’s statements.

The company maintains its long-term vision remains intact. Product development timelines show no delays according to internal sources. Strategic partnerships and roadmap items proceed as originally planned.

Market participants await further clarity on price movement triggers. The investigation continues as the team analyzes trading patterns. Additional updates will follow as information becomes available per the official statement.

Key NotesHyperliquid’s $60M HYPE unlock hit a market stuck in a prolonged downtrend.On-chain data shows most contributors held or restaked their tokens.Technicals place HYPE at the bottom of a falling wedge.
The team behind decentralized exchange Hyperliquid released 1.75 million HYPE tokens to developers and core contributors, worth more than $60.4 million, as part of its long-standing vesting schedule.

The unlocking comes on the first anniversary of Hyperliquid’s historic airdrop, one of the largest and most community-focused token launches ever seen. On the other hand, the price of the HYPE token dropped more than 23% in the past month and almost 5% in the last 24 hours, as per CoinMarketCap data.

The Hyperliquid team confirmed that 1.75 million HYPE tokens were unlocked on Saturday for developers and core contributors, worth over $60.4 million at current prices. According to Hyperliquid developer iliensinc, the unlock is part of the project’s predefined vesting schedule… pic.twitter.com/SLd346io08

— Wu Blockchain (@WuBlockchain) November 30, 2025

Not an Unusual Event
According to Hyperliquid developer iliensinc, this event isn’t unusual. He reminded users that back in November 2024, nearly 270 million tokens fully unlocked in the largest airdrop in crypto history, now valued at about $9.5 billion. Moreover, Hyperliquid has no VC unlocks or investor vesting.

Analyst KirbyCrypto confirmed that the founder-tier wallet received 170,619 HYPE, senior-tier (14 wallets) got 1,049,986 HYPE, and mid-tier (2 wallets) dropped 99,998 HYPE. Meanwhile, the smaller wallets received 30,000 HYPE, and the remaining (9 wallets) got 395,406 HYPE. That adds up to 1,745,746 HYPE.

Hyperliquid TGE Unlock and What Actually Happened

The first major unlock just passed. Here's how tokens were distributed and what team members did with it.

Distribution
• Largest wallet (Founder-tier): 170,619 HYPE
• Senior-tier (14 wallets): 1,049,986 HYPE
• Mid-tier (2… pic.twitter.com/2zw4aSsWNH

— kirbycrypto.hl 🌊🏄‍♂️ (@kirbyongeo) November 29, 2025

Token Distribution
The analyst confirmed that about 23.4% (609,100 HYPE) was sold OTC to Flowdesk and roughly 9% was re-staked. Also, around 35% stayed untouched, and Hyperlabs re-staked another 33%. It is clear that most contributors aren’t dumping. Re-staking and holding dominate the behavior.

Crypto McKenna’s analysis revealed that restaking covered more than 40% of core contributor allocations, while a little over 23% moved to Flowdesk. His projections for 2026 show that Hyperliquid may generate far more buy-side flow than sell-side pressure even in a worst-case liquidation scenario.

Some back of the envelope calculations on the first Hyperliquid core contributors unlock:

> 2.6M HYPE distributed w/ 41.89% restaked by Hyperlabs and team members

> 23.42% of the unlock was sent to Flowdesk and 34.69% remains as spot HYPE on HyperCore

> If we look at 2026 buy… pic.twitter.com/f1qtU8dT1r

— McKenna (@Crypto_McKenna) November 30, 2025

Interestingly, Modelled buy pressure crosses $2.1 billion based on revenue, while potential sell pressure sits near $598 million.

HYPE Price Analysis: A Market Near Exhaustion
The HYPE chart shows that the altcoin is trapped inside a falling wedge that stretches back to September. Price trades near the lower boundary of the pattern and stays under the 200-day moving average.

A bullish break above the wedge’s upper trendline could send HYPE back toward the mid-$40 range, with $36 and $41 as early key levels. A clean breakout above the 200-day level would open a path toward September’s high.

HYPE price chart inside wedge | Source: TradingView

A bearish outcome remains possible if the price slips under the wedge support. That would expose the $30 zone, where volatility tends to expand sharply. A deeper pullback to $20s could be possible if $30 doesn’t hold.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Altcoin News, Cryptocurrency News, News

A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.

Parth Dubey on LinkedIn

After a double-digit decline in November, will the tides turn for XRP in December?

It has been a wild period in the cryptocurrency markets, with BTC and many larger-cap alts posting double-digit price increases on a weekly scale, but similar or even more painful declines monthly.

With the last month of the year just around the corner, we decided to focus on the third-largest non-stablecoin cryptocurrency and asked some of the most popular AIs about their take on what December holds for XRP.

What’s Next (ChatGPT Edition)?
ChatGPT outlined XRP’s difficult past few months, especially since its all-time high marked in mid-July. By October, the asset had lost all of its yearly momentum and dumped below $2 during the first market-wide crash. The second, which took place in the middle of November, drove it south hard once again to roughly $1.80.

Although the cross-border token has rebounded to around $2.20 as of now, it’s still slightly in the red on a YTD scale, which is quite interesting and perhaps unexpected given the overall bullish year. Aside from the ATH, Ripple saw the conclusion of the prolonged battle against the US SEC, and several spot XRP ETFs were launched in the country.

OpenAI’s solution noted that the first positive sign for the token is the fact that it quickly reclaimed the $2.00 level after its latest correction. It remains “the most important line to protect heading into December” as a monthly close above it “keeps the long-term trend intact.”

ChatGPT highlighted the following factors that can reignite XRP’s rally in the next month: strong ETF inflows, overall market stabilization or more profound recovery, and renewed whale accumulation – something that has been lacking for weeks.

Its bull case envisions a price surge to $2.85, while its bear scenario predicts another slip below $2.00 and a December bottom of around $1.80.

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“December has the potential to be better than October and November, but XRP remains in a fragile position. If the broader market stabilizes, XRP could see a gradual rebound toward the mid-$2 range. However, without a strong catalyst, a full trend reversal seems unlikely before 2026,” – the AI chatbot concluded.

XRP Through the Eyes of Perplexity and Grok
Perplexity was slightly more bullish. Although it mentioned essentially the same calalysts that can drive another XRP rally, its best-case scenario forecasts a price surge beyond $3.00 and up to $3.40, which would be just inches below the July peak. Even its bearish prediction was higher than ChatGPT’s, as it doesn’t see a drop below $2.00 in December.

Grok, on the other hand, believes such a decline might take place if the US Federal Reserve fails to lower the key interest rates or some other geopolitical tension caps XRP’s recent progress. Declining volume and whales realizing profits or capitulating could also contribute to another possible correction that can drive the asset toward the November low of $1.80.

Nevertheless, both AIs said they don’t expect fireworks in the last month of the year, predicting moves of up somewhere between 5% and 20% tops.

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BitMEX co-founder Arthur Hayes said Tether is preparing for a coming Federal Reserve rate-cut cycle by shifting more reserves into Bitcoin and gold. He pointed to the firm’s latest attestation, which shows a reduced focus on Treasury-driven returns and a stronger tilt toward alternative assets that may gain in a lower-rate environment.

Hayes Warns of Strain in Tether’s Reserves
In a recent X post, Hayes warned that the strategy brings notable risk. Falling prices in Bitcoin and gold could strain Tether’s equity cushion. Such pressure could revive long-running disputes about USDT’s solvency. He said the reserve mix signals a clear attempt to adapt to changing macro conditions.

The latest reserve report cites total assets of roughly $181 billion. The collateral consists mainly of cash, T-bills, repo positions and money market instruments. Almost $13 billion comes under precious metals. Bitcoin is at nearly $10 billion. Secured loans exceed $14 billion. The remaining categories are filled in with smaller allocations.

Source: X
S&P Global Ratings published a “weak” stability score following an analysis of Tether’s array of reserves. The rating signalled a concern of increasing exposure to volatile assets. S&P said the combination increases the risk of undercollateralization in periods of significant market distress. The downgrade drew swift industry reactions.

Corporate Assets Reveal a Stronger Financial Base
Former Citi analyst Joseph said Tether’s disclosed reserves only reflect assets tied to USDT backing. A separate corporate equity sheet contains equity stakes, mining operations, corporate reserves, and additional Bitcoin not included in the public reports. He said these holdings alter the overall risk profile.

Joseph referred to Tether as very profitable. Treasuries that pay interest amount to about $120 billion. Since 2023, those holdings have resulted in nearly $10 billion in annual profit. Operating costs remain low. 

Efficiency multiples the equity value of Tether. Joseph estimated a range from around $50 billion to about $100 billion. He pointed to reports of a $20 billion raise at 3%, which would imply a much higher valuation, and he said was unrealistic.

Other key points related to differences with banks. The vast majority of banks keep just 5% to 15% of their deposits in liquid assets. The rest lies in far less liquid securities. Central banks backstop banking failures. The platform operates without that support. Strong returns help to make up for a lack of lender of last resort, Joseph said.

As CoinGape reported ealier, Paolo Ardoino responded to S&P’s downgrade USDT with criticism. He said negative views from traditional agencies do not concern the company. Past rating models, in his view, failed to capture the real risk of many firms that later collapsed. 

Tether, he said, holds no toxic reserves. He described the company as overcapitalized and profitable. He added that the firm’s progress shows rising demand for alternative financial structures.

Bitcoin trading has become one of the most common entry points into the crypto world. However, understanding how it truly works — and how to operate safely — is essential for those taking their first steps in this ever-evolving ecosystem.

Trading Bitcoin on the most reliable platforms allows you to buy, sell, and manage BTC securely and quickly. This article explains how it works, which tools to use, and how to choose the right exchange.

What It Means to Trade Bitcoin
Trading Bitcoin means buying or selling BTC with the aim of making a profit. The user interacts with an exchange, a platform that connects supply and demand, establishing the price in real-time.

In practice, the trader:

deposit euros or other crypto,

opens a buy or sell order,

monitor the market,

closes the position when the result is deemed satisfactory.

Everything happens in a matter of seconds, thanks to platforms designed for fast and intuitive operations.

How Bitcoin Trading Platforms Work 
The most reliable platforms — such as Coinbase, Binance, Kraken, or Bitstamp — have a specific role: to ensure a secure, regulated, and technologically stable environment for trading Bitcoin.

Their main functions include:

Summary

Custody and Security of FundsOrder Matching MechanismPrice TransparencyMain Orders• “Market” Order• “Limit” Order• Stop-loss• Take-profitSpot TradingTrading with Leverage (Margin)Futures and DerivativesRegulation and LicensingTransparent Fees
Custody and Security of Funds
Reputable exchanges use cold wallets, advanced encryption, and internal insurance to protect clients’ funds. They often include:

two-factor authentication (2FA),

whitelist for withdrawal addresses,

AML/KYC checks to prevent fraud.

Security is the first feature to evaluate when starting out.

Order Matching Mechanism
Buy and sell orders are executed through an order book, a ledger where thousands of users input their prices.
The platform’s matching engine automatically pairs compatible orders and updates the global price.

Price Transparency
The value of Bitcoin is not determined by a central authority but by the dynamics of supply and demand. The most reliable platforms display real-time charts, price history, volumes, and fluctuations.

Essential Tools for Trading Bitcoin
Trading BTC is not just about buying and selling. Modern platforms offer various types of orders and tools that help users trade more consciously.

Main Orders
• “Market” Order
Buy or sell at the nearest available price. It’s the fastest but also the least precise.

• “Limit” Order
Allows you to set a desired price. The order will be executed only when the market reaches that level.

• Stop-loss
Essential tool for risk management.
Automatically closes a position if the price falls beyond a certain limit.

• Take-profit
Allows you to automatically lock in a profit when the price exceeds a predetermined level.

These tools make trading less emotional and more controlled.

Spot, Futures, and Margin Trading: What Are the Differences?
The platforms offer various operational modes. For beginners, it’s important to understand the differences.

Spot Trading
It is the simplest and safest form: you buy Bitcoin and own it directly.
Ideal for beginners and those looking to build a long-term strategy.

Trading with Leverage (Margin)
It allows trading with capital borrowed from the exchange, multiplying both profits and losses.
It is a high-risk mode and not suitable for beginners.

Futures and Derivatives
Contracts that allow speculation on the future price of Bitcoin.
They are primarily used by experienced traders for hedging or capitalizing on rapid market movements.

How to Choose a Reliable Platform for Bitcoin Trading
Before starting, it is essential to evaluate some criteria:

Regulation and Licensing
The most secure exchanges operate with specific licenses and comply with regulations such as MiCA in the European Union.
Regulation does not eliminate risk, but it increases user protection.

The platform must offer:

2FA

anti-phishing systems

cold storage

independent audits

internal insurance

Transparent Fees
Fees can significantly impact outcomes.
It’s better to choose platforms with transparent and competitive costs, especially for those who trade frequently.

Good liquidity means fast executions and more stable prices.
Global exchanges with high volumes ensure a better experience.

For beginners, simplicity matters.
A clear environment reduces errors and helps in understanding market dynamics.

Risks of Bitcoin Trading
Despite its popularity, trading BTC involves real risks:

High volatility: prices can move quickly in both directions.

Leverage risk: using borrowed capital can amplify losses.

Frauds and scams: not all global platforms are reliable.

Human errors: entering an incorrect price or forgetting a stop-loss can be costly.

Acting with caution, staying informed, and using regulated platforms is essential.

The Market Context: Why Bitcoin Attracts New Traders
Trading Bitcoin is not just a speculative activity: it is also a way to participate in a global market open 24/7.
BTC is considered a kind of “digital gold,” with a limited supply and an ever-growing community of investors.

These elements make it an interesting asset for both quick trades and long-term strategies, especially during periods of high liquidity or during bull runs.

Trading Bitcoin on the most reliable platforms offers great opportunities, but it requires knowledge, discipline, and the selection of appropriate tools. Understanding how exchanges work, which orders to use, and how to manage risk is the first step to operating responsibly.

The crypto market remains a dynamic territory: it can reward those who study, observe, and make informed decisions.
And for those approaching it today, the key remains the same: stay informed, start gradually, and never invest more than you can afford to lose.

Amelia Tomasicchiohttps://cryptonomist.ch

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder of The Cryptonomist.
She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.

TLDR:

Arthur Hayes warned Monad could crash 99% citing high FDV and limited differentiation factors
Keone Hon countered with 170-validator architecture rejecting centralized sequencer models
MonadBFT consensus eliminates tail forking vulnerabilities that plague pipelined systems
Token sale used bottom-fill method to prevent whale concentration during allocation phase

Monad CEO Keone Hon issued a direct response to BitMEX co-founder Arthur Hayes following days of critical commentary about the network. 

Hayes warned that Monad could experience a 99 percent price decline. The BitMEX founder criticized the project’s high fully diluted valuation and low-float token structure. Hon’s response came during the network’s sixth day on mainnet.

Hayes Criticizes Token Structure and Competitive Position
Hayes described Monad as a project designed primarily to benefit founders and venture capitalists. 

He pointed to the limited user base and questioned the network’s competitive advantages. The BitMEX co-founder called Monad a parallel EVM chain lacking unique features. Hayes maintains a bearish stance despite holding a small personal allocation in the token.

Read also: BitMEX’s Hayes Labels Monad a Risky High-FDV Crypto Launch: Here’s Why

Hon acknowledged Hayes’ industry contributions in his response. 

He referenced Hayes’ innovation with perpetual contracts and impact on crypto derivatives markets. The Monad CEO then addressed what he termed FUD similar to what Hayes faced during BitMEX’s early development.

Hon emphasized the network’s transaction speed as a differentiating factor. Withdrawals from Coinbase appear in user wallets within one to two seconds. This performance occurs across 170 globally distributed validators rather than a single sequencer model.

Dear @CryptoHayes , I respect what you have built for the industry. Perps are an amazing innovation that I believe will continue to grow rapidly. You've had a big effect on our industry.

I have seen you commenting on Monad a lot for the past few days. While I'm sure some… https://t.co/TpoC7M7KYP

— Keone Hon (@keoneHD) November 29, 2025

Technical Architecture Counters Centralization Concerns
The CEO highlighted MonadBFT as a frontier consensus mechanism solving tail forking problems. Byzantine Fault Tolerance consensus requires multiple communication rounds between network participants. 

Pipelining blocks enables fast block times but historically created vulnerability to one-block reorganizations. These tail forks previously enabled MEV attacks that MonadBFT eliminates.

Monad implements async execution, separating consensus and execution into independent operational streams. Ethereum developers are pursuing similar architectural changes. 

The network’s codebase remains fully open source and underwent complete audits. Development teams built the system from scratch using C++ and Rust for high-frequency trading optimizations.

Additional innovations include a JIT compiler translating EVM bytecode to native code. MonadDb serves as the custom database while RaptorCast handles block propagation. Parallel execution processes multiple transactions simultaneously. 

Hon stated these technical components distinguish Monad from standard EVM implementations.

The MON token launched via Coinbase’s token sales platform using a bottom-fill allocation approach. This method prevented whales from capturing the entire sale allocation. 

Hon offered to send Hayes MON tokens to test the network firsthand. The Monad Foundation and Category Labs teams plan ongoing research in gas pricing and privacy.

The pickup in demand for spot ETFs and bets on a December Fed rate cut support a bullish short- to medium-term outlook.

Below, we consider the key drivers behind November’s sell-off, the short-term outlook, the medium-term trajectory, and the key technical levels traders should watch.

Fed Rate Cut Bets Revive Demand for BTC-Spot ETFs
US labor market data fueled speculation about a December Fed rate cut. The Kobeissi Letter commented on the latest Challenger Gray data, stating:

“Layoff announcements compiled by Challenger Gray spiked from 99,010 to 153,074, the highest since March. This also marks the highest monthly number for any October in 22 years.”

Notably, FOMC members appeared to shift focus away from inflation to a cooling labor market, raising expectations of a December rate cut. Highly influential New York Fed President John Williams recently signaled support for a cut, lifting sentiment.

Notably, BTC has rallied from the November 21 low of $80,523 in response to weaker US jobs data and dovish Fed rhetoric. In October, the Fed cut interest rates but downplayed a December cut, leading BTC to heavy losses and underscoring the Fed’s influence on demand.

BTCUSD – Daily Chart – 301125 – EMAs
Downside Risks: Fed Pivot and ETF Outflows
While rising bets of a December Fed rate cut and spot ETF inflows have lifted sentiment, downside risks linger.

In the week ahead, Fed Chair Powell, US jobs data, and the Personal Income and Outlays report will be key drivers.

Strong US jobs and inflation data, and hawkish Fed rhetoric could dampen bets on a Fed cut, weighing on sentiment. Given BTC’s drop to the November low of $80,523 on November 21, an $80,000 stop-loss is appropriate for traders carrying long positions, subject to risk appetite.

Track BTC market trends with our real-time data and insights here.

Key Takeaways
In summary, several key events will influence BTC’s short to medium-term outlook:

US economic data.
FOMC members’ speeches.
Legislative developments, including the progress of the Market Structure Bill on Capitol Hill.
US BTC-spot ETF flow trends.

A break above the $100,000 threshold would signal a shift in momentum, bringing the all-time high of $125,761 into view.

Stay informed on BTC trends by monitoring macroeconomic developments, ETF flows, and technical indicators here.

As XRP battles recent bearish sentiment, an artificial intelligence model has projected that the asset is likely to reclaim the $3 mark by Christmas Day 2025.

Indeed, XRP has suffered notable losses in recent weeks, in line with broader cryptocurrency market sentiment, at one point losing the $2 support. By press time, the asset was valued at $2.20, having gained about 0.8% in the past 24 hours, while on the weekly timeline, the asset is up almost 9%.

XRP seven-day price chart. Source: Finbold
XRP price on Christmas Day 
To determine how the asset might trade on Christmas 2025, Finbold consulted OpenAI’s artificial intelligence model, ChatGPT, which cited several factors likely to influence the asset’s price.

According to ChatGPT, one of the key factors influencing XRP’s price is the resolution of its legal dispute with the SEC. With regulatory uncertainty removed, institutional investors are more likely to enter, supporting a higher baseline price for XRP.

At the same time, the launch of XRP investment vehicles like ETFs and ETPs has also played a role, though early flows have been modest. These products offer increased structural demand, and as they attract more capital, they could support future price gains.

Additionally, active treasury and SPAC buying programs aim to raise over $1 billion to purchase XRP on the open market. If these initiatives begin executing buybacks in December, they could provide steady upward pressure on the price.

The model also pointed to broader market conditions that also impact XRP. While the crypto market faced weakness in November 2025, a potential rebound in December, especially if the U.S. The Federal Reserve signals a rate cut, could boost investor sentiment and drive XRP’s price higher.

XRP price prediction 
By considering these factors, ChatGPT predicts that XRP will be valued at approximately $3.10 on December 25, with an expected range between $2.40 and $4.50. The most likely price will sit between $2.60 and $3.60.

If these factors align positively, XRP could push past $3.50, with the possibility of reaching as high as $4.50. On the other hand, if macro conditions remain weak or delays occur in ETF or SPAC activity, the price could fall below $2.20.

XRP price prediction for December 25. Source: ChatGPT
The model noted that the prediction is conditional on these factors unfolding as anticipated.

Featured image via Shutterstock

Tether received a "weak" stability rating from S&P Global Ratings due to its growing allocation to high-risk assets such as Bitcoin.

Photo: Michael Nagle

Key Takeaways

Arthur Hayes suggests Tether is in the early stages of a massive interest-rate trade, betting that Fed cuts will hurt Treasury income but send Bitcoin and gold higher.
He argues that a major drop in Bitcoin and gold positions could wipe out Tether’s equity.

BitMEX co-founder Arthur Hayes argues that Tether is positioning itself for an upcoming Fed rate-cut cycle by shifting a greater share of its reserves into Bitcoin and gold.

Hayes wrote on X on Saturday that Tether’s most recent attestation suggests the firm is preparing for a rate-cut environment, which would reduce returns on Treasuries but could drive up the price of Bitcoin and gold.

However, the analyst cautioned that a sharp decline in those riskier assets could strain Tether’s equity cushion and reignite long-running questions about USDT’s solvency.

The Tether folks are in the early innings of running a massive interest rate trade. How I read this audit is they think the Fed will cut rates which crushes their interest income. In response, they are buying gold and $BTC that should in theory moon as the price of money falls.… pic.twitter.com/ZGhQRP4SVF

— Arthur Hayes (@CryptoHayes) November 29, 2025

According to the latest reserve report, Tether holds around $181 billion in assets to back USDT. The bulk of this is in cash and liquid securities, including Treasury bills, repo, and money market instruments.

Other holdings include nearly $13 billion in precious metals, close to $10 billion in Bitcoin, and more than $14 billion in secured loans, along with several smaller investment categories.

Tether was recently assigned a “weak” stability rating by S&P Global Ratings after boosting its holdings of riskier assets, including Bitcoin, within its reserves. S&P noted that this approach increases the likelihood of undercollateralization in the event of heightened crypto market stress.

In response, Tether said the S&P’s rating framework is outdated and does not reflect the scale of its daily settlement flows.

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