Market Signal Briefing

Shiba Inu price continued its strong downward trend, reaching a low of $0.0000080, its lowest level since Nov. 24, and 76% from its highest level in December last year.

Summary

Shiba Inu price continued its downtrend despite the soaring burn rate.
The burn rate rose by over 17,225% in the last 24 hours.
SHIB has faced numerous bearish technicals and fundamental headwinds.

Shiba Inu (SHIB) token has lagged behind other coins, including blue-chip names like Ethereum (ETH) and Bitcoin (BTC). Its market capitalization has dropped from nearly $20 billion to $4.6 billion.

SHIB token continued dropping, even as its daily burn rate spiked by 17,225% to 32.4 million. This increase was triggered by one investor who moved over 30 million tokens to the burn address.

Data compiled by ShibBurn shows that the network has burned over 410 billion tokens since its inception. It now has a circulation supply of 585 billion tokens.

There are a few reasons why the SHIB price has crashed in the past few months. First, the crash is because of the ongoing meme coin sell-off that has affected most tokens like Pepe, Dogwifhat, Bonk, and Pudgy Penguins.

Second, the amount of SBIB tokens being incinerated is negligible. While the 17,225% increase is notable, the dollar value of the amount being burned stood at $250, a tiny amount for a coin worth about 4.6 billion.

Third, data compiled by Nansen shows that the amount of tokens held by smart money investors has dropped from 43.1 billion on Nov. 30 to 39 billion today. Falling holdings by smart money investors is a sign that they expect the coin to continue falling.

Shiba Inu price has also dropped because of the woes in Shibarium, its layer-2 network, whose total value locked has plunged in the past few months. The network has also failed to attract traction from investors and developers.

Shiba Inu has also lost its popularity among investors, which likely explains why no company has filed a spot Shiba Inu ETF filing. Several companies like Grayscale, REX-Osprey, and Bitwise have all launched their Dogecoin ETFs.

Shiba Inu price technicals have contributed to the sell-off 
SHIB price chart | Source: crypto.news
The daily timeframe chart shows that technicals have contributed to the Shiba Inu price crash. It formed a falling triangle pattern, characterized by a diagonal trendline and a horizontal support level.

SHIB’s price has already moved below the lower boundary of the descending triangle, confirming its bearish outlook.

The coin has constantly remained below the 50-day and 100-day Exponential Moving Averages and the Supertrend indicators.

Therefore, the most likely outlook is that it continues to fall as sellers target the next key support level at $0.0000050.

Bitcoin (CRYPTO: BTC) doom-callers may want to sit down. Fundstrat co-founder and Head of Research Tom Lee is back, and he's not whispering — he's declaring that "the high isn't in yet," insisting Bitcoin is nowhere near done despite a bruising November.

Track BTC price here.
Bitcoin: New All Time High By JanuaryLee believes the market is dramatically underestimating what happens when liquidity turns, fund managers panic-buy, and the Fed finally pivots from years of tightening.

His line in the sand: Bitcoin not only recovers, but "can make a new all-time high by January."

Read Also: Tom Lee’s Shock Call Meets BitMine’s Supply Squeeze

The Macro Trigger That Could Drive The SurgeLee says the macro trigger is already here.

"Today is the day that QT [quantitative tightening] ends," he told CNBC, calling the balance-sheet shift a massive catalyst that investors are ignoring. The Fed has been shrinking its balance sheet since April 2022, a steady withdrawal of liquidity that Lee argues has been a "pretty big headwind for market liquidity."

Now that pressure valve releases — and history matters. The last time QT stopped, in September 2019, he notes that markets "within three weeks rallied 17%." If that playbook repeats, Bitcoin could catch a rocket.

Momentum doesn't need a miracle, just a spark. Lee says November's 6% decline in the broader market — and the sharper drawdowns in AI names and crypto — created an emotional washout. Many fund managers "threw in the towel" and resigned themselves to writing off the year.

Performance Chasing To Kick InNow, with December setup strength, he expects "performance chasing" to kick in.

But it all hinges on the Fed. A dovish pivot is "a tailwind," and Lee didn't mince words: "I don't think the Bitcoin high is in place."

He expects crypto to surge alongside equities because "animal spirits" return when liquidity does.

Read Next:

Peter Schiff Calls Bitcoin ‘Fake’ — BlackRock Calls It Their Biggest Moneymaker
Photo: Courtesy PV productions via Shutterstock

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Bitcoin has fallen below the $90,000 level, intensifying speculation that the market may be entering the early stages of a broader bearish cycle. The drop comes as on-chain and derivatives data reveal a notable shift in investor behavior, especially among large holders.

According to a recent CryptoQuant report by Darkfost, whales have become significantly more active on Binance, driving a marked increase in BTC inflows to the exchange. This rise in transfers exceeding 100 BTC suggests that the market’s largest players have begun adjusting their positioning, often a sign of evolving risk attitudes and strategic repositioning.

Meanwhile, Bitcoin has been in a corrective phase for nearly two months, consolidating after its prior rally. This pause has been accompanied by a sharp contraction in Open Interest, which has fallen from $47.5 billion to roughly $29 billion today.

The decline reflects substantial disengagement from speculative positions, whether triggered by cautious profit-taking or by liquidations cascading through the derivatives market.

Whale Defense Intensifies as Retail Investors Remain Passive
Darkfost highlights that the rise in whale inflows—measured using a 90-day average—offers a deeper understanding of the current market mood. This metric shows that major holders are prioritizing protection in an increasingly uncertain environment.

Since Bitcoin’s last all-time high, the average whale inflow to Binance has effectively doubled, now approaching 4,000 BTC. Such an increase is rarely insignificant; it typically reflects hedging, de-risking, or preparing liquidity for active repositioning.

In contrast, inflows from retail investors have remained relatively stable and far less volatile. Their exchange activity has not experienced the same directional surge, suggesting that smaller market participants have not meaningfully adjusted their exposure. This divergence creates a striking behavioral split between investor classes.

Binance Whales/Retail Bitcoin Inflows | Source: CryptoQuant
While whales shift into a defensive posture—moving coins, reassessing exposure, and potentially preparing for further downside—retail participants appear more passive. This may indicate slower reaction times to macro and on-chain signals or simply lower capital at risk.

Historically, such patterns emerge during transitional phases in the market, when sophisticated holders take early precautionary measures before broader sentiment shifts. The growing contrast reinforces the idea that Bitcoin is navigating a phase where caution dominates among its biggest players.

Bitcoin Tests 200 SMA as Market Searches for Direction
Bitcoin’s 3-day chart shows a decisive shift in momentum, with price breaking below the 50 SMA and 100 SMA after weeks of persistent selling pressure. The failure to hold the $90,000 level pushed BTC into its sharpest correction since mid-2024, and the structure now reflects a market struggling to stabilize. The current candle cluster is forming directly on top of the 200 SMA, a historically significant long-term support zone that often separates cyclical uptrends from deeper bearish phases.

BTC consolidates around key level | Source: BTCUSDT chart on TradingView
The reaction so far has been mixed. BTC briefly dipped below the 200 SMA before recovering back above it, signaling that buyers are attempting to defend the trend boundary. However, the bounce lacks conviction, and volume remains elevated on down candles—an indication that sellers are still aggressive. As long as BTC trades below the 50 and 100 SMAs, the market structure remains vulnerable.

The downtrend also shows a clear sequence of lower highs and lower lows, confirming that momentum favors continuation unless $92,000–$95,000 is reclaimed. Losing the 200 SMA on a closing basis would open the door to deeper retracements toward $78,000 and $72,000, where prior consolidation zones sit.

Featured image from ChatGPT, chart from TradingView.com

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Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.
As his knowledge grew, Sebastian felt compelled to share his insights with others. He began actively contributing to online discussions on platforms like X and LinkedIn, focusing on fintech and crypto-related content. His goal was to expose valuable trends and insights to a wider audience, fostering a deeper understanding of the rapidly evolving crypto landscape. Sebastian's contributions quickly gained recognition, and he became a trusted voice in the online crypto community.
To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.
Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K forms, or engaging in thought-provoking discussions about the future of finance.
Sebastian's journey as a crypto analyst and investor has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable asset to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and contributing to the growth of this revolutionary technology.

A fresh analysis points to a developing bullish pattern that may set the stage for a massive surge in the Dogecoin price. The crypto analyst who shared this analysis argues that the current structure in DOGE’s trend suggests the early formation of a recovery move strong enough to trigger a 174% price rally. With momentum building and technical indicators aligning, this new setup could be the catalyst that pushes Dogecoin out of its downtrend. 

Dogecoin Price Trend Signals 174% Rally
Dogecoin is entering a phase that analysts say could be the beginning of a powerful bullish structure forming on the charts. According to crypto market expert Javon Marks, the popular meme coin is maintaining a series of signals pointing toward a major upside continuation phase. If confirmed, these developments could open the door to an explosive 174% rally in the weeks ahead.

Marks explained that Dogecoin’s price behavior is beginning to reflect a bullish trend that could accelerate rapidly. The chart shows that momentum indicators are displaying early signs of strength and recovery while key support levels have remained firmly intact. This combination is laying the foundation for a much bigger breakout, one that the analyst predicts could spark a rally well above 174%. 

Source: Chart from Javon Marks on X
The analysis shows that the projected 174% rally is part of a broader recovery wave, with Dogecoin expected to reach $0.374 as its first target. Beyond that stage, a more ambitious goal sits near $0.6533, a level that lies more than 315% above DOGE’s current price of $0.136. Even more impressively, Marks has forecasted an explosive surge to $1.25, representing a staggering 820% increase in the meme coin’s price. 

The accompanying chart shows Dogecoin forming a series of higher supports following a prolonged corrective period. According to Marks, this developing trend shows that the meme coin is maintaining strong bullish signals despite its volatile price action over the recent months. The chart also displays a clear break from its extended downtrend, followed by a sequence of impulsive waves that continue to hold above previous lows.

Dogecoin Eyes Breakout Above Key Resistance Zone
Sharing similar bullish sentiments, crypto analyst Sudelytic notes that Dogecoin is showing signs of a resurgence after a prolonged period of quiet activity. According to the expert, the meme coin is approaching a key resistance zone between $0.30 and $0.35, a price range that could determine its next move.

If Dogecoin breaks above this zone with strength, Sudelytic predicts it could target new levels above $1.5. Despite its strong breakout potential, the analyst cautions that this resistance area is challenging to overcome. A failure to move past it could result in additional sideways action before any significant upward momentum returns. 

Given the significance of this resistance, Sudelytic notes that Dogecoin’s price action is being closely monitored. He points out that the meme coin’s history of unexpected rallies is the key reason why he remains optimistic about its outlook. 

DOGE trading at $0.13 on the 1D chart | Source: DOGEUSDT on Tradingview.com
Featured image from Pngtree chart from Tradingview.com

Bitcoin price suffered a harsh reversal on Monday, wiping out some of the gains made last week when it soared to $93,000. 

Summary

Bitcoin price dived below the important support at $85,000.
The Bank of Japan’s central bank governor pointed to a rate hike.
A hike when the Fed is cutting may lead to unwinding of the carry trade.

Bitcoin (BTC) token dived to $84,880, triggering a broader crypto market crash that affected most altcoins. The market capitalization of all coins dropped by ~8% to $2.9 trillion. 

One potential reason why Bitcoin price crashed is a sudden flip by the Bank of Japan. In a statement, Kazuo Ueda, the bank’s governor, said that the bank will consider the pros and cons of raising by examining the economy, inflation, and the financial market at home and abroad. 

As a result, the Japanese yen rebounded, while government bond yields rose, with the 10-year hitting a multi-decade high of 1.876%. The Nikkei 225 and Topix indices dipped. 

A BoJ rate hike will be notable because it will occur while the Federal Reserve is cutting interest rates. This divergence may push investors to unwind their carry trade, which happened last year when the BoJ started to hike interest rates.

In July 2024, the Fed cut rates while the BOJ raised rates, leading to the unwind of the carry trade.

Bitcoin capitulated into it, and found a low 1 week later.

Good chance this happens again on December 10th (Fed cuts, BOJ raises rates).

So maybe Bitcoin finds a low mid-Dec? pic.twitter.com/Vd6d3k3fUh

— Benjamin Cowen (@intocryptoverse) December 1, 2025

The actions by the BoJ are important because it is the second-biggest central bank globally in terms of assets. It has over $5.8 trillion in assets, second only to the Fed, which has $5.14 trillion. 

Bitcoin price is also falling as market participants adjusted their positions after last Friday’s options expiry, worth over $13 billion. It is common for the coin to be more volatile before and after such a big expiry. 

There are other reasons the BTC price crashed, including rising liquidations and exchange-traded fund outflows. 

Bitcoin price technical analysis
BTC price chart | Source: crypto.news
The BTC price has been in a downtrend since forming a double top at $124,630 and a neckline at $107,270. A double top is a typical bearish reversal pattern. 

The coin has formed a series of lower lows and lower highs. It also formed a death cross, a pattern in which the 50-day and 200-day moving averages cross. 

On the positive side, there are signs that the coin is forming a double-bottom pattern at $80,637 and a neckline at $93,065. Therefore, the coin may still rebound as long as it remains above the double-bottom at $80,637.

The crypto project Yearn Finance has confirmed a security incident involving a custom yETH stableswap pool that resulted in approximately $9 million in total losses.

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Investors might want to bet on Leidos (LDOS - Free Report) , as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.

The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.

The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.

As such, the Zacks rating upgrade for Leidos is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.

For Leidos, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.

Harnessing the Power of Earnings Estimate RevisionsEmpirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for LeidosFor the fiscal year ending December 2025, this security and engineering company is expected to earn $11.72 per share, which is unchanged compared with the year-ago reported number.

Analysts have been steadily raising their estimates for Leidos. Over the past three months, the Zacks Consensus Estimate for the company has increased 2.9%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of Leidos to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

Investors might want to bet on Newmark Group (NMRK - Free Report) , as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.

The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.

Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.

Therefore, the Zacks rating upgrade for Newmark Group basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.

For Newmark Group, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.

Harnessing the Power of Earnings Estimate RevisionsEmpirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, so it could be truly rewarding if such revisions are tracked for making an investment decision. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for Newmark GroupFor the fiscal year ending December 2025, this provider of commercial real estate services is expected to earn $1.59 per share, which is unchanged compared with the year-ago reported number.

Analysts have been steadily raising their estimates for Newmark Group. Over the past three months, the Zacks Consensus Estimate for the company has increased 2.3%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

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A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.

The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.

Therefore, the Zacks rating upgrade for OCADO GROUP basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.

For OCADO GROUP, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.

Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

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Analysts have been steadily raising their estimates for OCADO GROUP. Over the past three months, the Zacks Consensus Estimate for the company has increased 1.6%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

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The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.

Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.

Therefore, the Zacks rating upgrade for Innovative Industrial Properties basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their transaction of large amounts of shares then leads to price movement for the stock.

Fundamentally speaking, rising earnings estimates and the consequent rating upgrade for Innovative Industrial Properties imply an improvement in the company's underlying business. Investors should show their appreciation for this improving business trend by pushing the stock higher.

Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for Innovative Industrial PropertiesThis company is expected to earn $7.14 per share for the fiscal year ending December 2025, which represents no year-over-year change.

Analysts have been steadily raising their estimates for Innovative Industrial Properties. Over the past three months, the Zacks Consensus Estimate for the company has increased 1.2%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of Innovative Industrial Properties to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the "long context," investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.

Even though momentum is a popular stock characteristic, it can be tough to define. Debate surrounding which are the best and worst metrics to focus on is lengthy, but the Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.

Below, we take a look at Figs (FIGS - Free Report) , which currently has a Momentum Style Score of A. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.

It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Figs currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.

You can see the current list of Zacks #1 Rank Stocks here >>>

Set to Beat the Market?Let's discuss some of the components of the Momentum Style Score for FIGS that show why this health care apparel company shows promise as a solid momentum pick.

A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.

For FIGS, shares are up 4.76% over the past week while the Zacks Retail - Apparel and Shoes industry is down 2.48% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 31.23% compares favorably with the industry's 2.67% performance as well.

Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Shares of Figs have increased 42.09% over the past quarter, and have gained 88.63% in the last year. In comparison, the S&P 500 has only moved 5.63% and 15.42%, respectively.

Investors should also take note of FIGS's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now FIGS is averaging 2,717,072 shares for the last 20 days..

Earnings OutlookThe Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with FIGS.

Over the past two months, 5 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost FIGS's consensus estimate, increasing from $0.06 to $0.10 in the past 60 days. Looking at the next fiscal year, 5 estimates have moved upwards while there have been no downward revisions in the same time period.

Bottom LineGiven these factors, it shouldn't be surprising that FIGS is a #1 (Strong Buy) stock and boasts a Momentum Score of A. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep Figs on your short list.

Amazon.com Inc (NASDAQ:AMZN) could see meaningful revenue upside over the next two years as its cloud computing arm, Amazon Web Services (AWS), continues to unlock capacity, according to Oppenheimer analysts.

In a note Monday, Oppenheimer raised its price target on Amazon to $305 from $290 while reiterating an “Outperform” rating. The brokerage said AWS plans to double its capacity by 2027, following a doubling since 2022, with at least 1 gigawatt (GW) added in the fourth quarter.

Based on historical trends, Oppenheimer estimates that each incremental GW could generate roughly $3 billion in revenue, suggesting a potential 14% to 22% upside to analysts’ 2026 and 2027 AWS revenue forecasts. For the fourth quarter alone, the unlocked capacity could add about $3 billion in sequential cloud growth, compared with Street estimates of $1.8 billion to $2.1 billion.

“AWS capacity has been a material headwind to re-acceleration since the second quarter of 2024, but starting in the third quarter of 2025, the company began unlocking capacity and accelerating growth,” Oppenheimer analysts wrote.

The analysts also highlighted improving returns on AWS capital expenditures, noting that the capex-to-revenue ratio, which increased from 41% in 2023 to 77% in 2025, could trend back toward historical norms by 2027.

On the retail side, Oppenheimer said investor expectations for Amazon’s holiday sales are already muted, citing Adobe forecasts of a 5% year-over-year increase, down from 9% in 2024.

The brokerage’s $305 target is based on 10 times projected 2027 AWS revenue and five times 2027 e-commerce gross profit, with potential upside to the mid-$300s if AWS growth exceeds expectations.

AWS is set to kick off its annual re:Invent conference on December 1, which could provide further insights into capacity expansion and technology efficiency, though analysts cautioned that the event has historically had a limited impact on stock performance. Last year, however, Amazon shares rose 13% around the event.

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In "long context," investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.

While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.

Below, we take a look at Par Petroleum (PARR - Free Report) , which currently has a Momentum Style Score of A. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.

It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Par Petroleum currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.

You can see the current list of Zacks #1 Rank Stocks here >>>

Set to Beat the Market? In order to see if PARR is a promising momentum pick, let's examine some Momentum Style elements to see if this independent oil and gas company holds up.

A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It's also helpful to compare a security to its industry; this can show investors the best companies in a particular area.

For PARR, shares are up 1.05% over the past week while the Zacks Oil and Gas - Refining and Marketing industry is down 4.87% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 14.18% compares favorably with the industry's 0.43% performance as well.

While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Shares of Par Petroleum have increased 34.74% over the past quarter, and have gained 161.9% in the last year. In comparison, the S&P 500 has only moved 5.63% and 15.42%, respectively.

Investors should also pay attention to PARR's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. PARR is currently averaging 1,313,268 shares for the last 20 days.

Earnings OutlookThe Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with PARR.

Over the past two months, 3 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost PARR's consensus estimate, increasing from $3.10 to $8.52 in the past 60 days. Looking at the next fiscal year, 3 estimates have moved upwards while there have been 1 downward revision in the same time period.

Bottom LineGiven these factors, it shouldn't be surprising that PARR is a #1 (Strong Buy) stock and boasts a Momentum Score of A. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep Par Petroleum on your short list.

Ross Stores (ROST - Free Report) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.

A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.

The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.

As such, the Zacks rating upgrade for Ross Stores is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.

Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.

For Ross Stores, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.

Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.

The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .

Earnings Estimate Revisions for Ross StoresFor the fiscal year ending January 2026, this discount retailer is expected to earn $6.36 per share, which is unchanged compared with the year-ago reported number.

Analysts have been steadily raising their estimates for Ross Stores. Over the past three months, the Zacks Consensus Estimate for the company has increased 4.4%.

Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.

You can learn more about the Zacks Rank here >>>

The upgrade of Ross Stores to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.

By

PYMNTS
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December 1, 2025

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Goldman Sachs is set to acquire defined outcome ETF firm Innovator Capital Management.

The $2 billion deal, announced Monday (Dec. 1), is designed to expand the exchange traded fund (ETF) lineup at Goldman’s asset management business.

Innovator, the banking giant noted in its announcement, was managing $28 billion in assets across 159 defined outcome ETFs as of Sept. 30.

“Active ETFs are dynamic, transformative, and have been one of the fastest-growing segments in today’s public investment landscape,” said David Solomon, Goldman CEO and chairman.

“By acquiring Innovator, Goldman Sachs will expand access to modern, world-class investment products for investor portfolios. Innovator’s reputation for innovation and leadership in defined outcome solutions complements our mission to enhance the client experience with sophisticated strategies that seek to deliver targeted, defined outcomes for investors.”

Bruce Bond, Innovator’s chief executive, called the deal a pivotal milestone for his company.

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“Goldman Sachs has a long history of discerning emerging trends and important directional shifts within the asset management industry,” Bond said. “We are excited to deliver world-class investment solutions to clients within the ETF framework and expand our business in this high-growth, sector-leading category. These synergies, among numerous others, make Goldman Sachs an ideal partner for us.”

Goldman added that there are $1.6 trillion in global active ETF assets under management, with defined outcome ETFs a critical part of the fast-growing ETF market.

“Defined outcome ETFs utilize derivatives and options-based strategies that seek to offer specific objectives such as principal downside protection, yield enhancement, and defined outcomes if invested for the full outcome period, allowing investors to build and customize portfolios through the tax-efficient ETF wrapper,” Goldman said.

The deal came weeks after Goldman announced it was acquiring Industry Ventures, a venture capital platform that manages $7 billion.

“Industry Ventures pioneered venture secondary investing and early-stage hybrid funds, areas that are rapidly expanding as companies stay private longer and investors seek new forms of liquidity,” Solomon said at the time.

“Industry Ventures’ trusted relationships and venture capital expertise complement our existing investing franchises and expand opportunities for clients to access the fastest growing companies and sectors in the world.”

The bank said Industry Ventures has “pioneered” sections of the venture capital (VC) market, such as offering secondary liquidity solutions, seeding emerging VC funds and “investing at the intersection of venture capital and tech buyout.”

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Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Winnebago Industries (WGO - Free Report) , which belongs to the Zacks Building Products - Mobile Homes and RV Builders industry.

This recreational vehicle maker has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 12.47%.

For the last reported quarter, Winnebago came out with earnings of $0.71 per share versus the Zacks Consensus Estimate of $0.58 per share, representing a surprise of 22.41%. For the previous quarter, the company was expected to post earnings of $0.79 per share and it actually produced earnings of $0.81 per share, delivering a surprise of 2.53%.

Price and EPS Surprise

With this earnings history in mind, recent estimates have been moving higher for Winnebago. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Winnebago has an Earnings ESP of +17.57% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner.

When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indicative of a stock's earnings miss.

Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering FedEx (FDX - Free Report) , which belongs to the Zacks Transportation - Air Freight and Cargo industry.

This package delivery company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 3.65%.

For the last reported quarter, FedEx came out with earnings of $3.83 per share versus the Zacks Consensus Estimate of $3.65 per share, representing a surprise of 4.93%. For the previous quarter, the company was expected to post earnings of $5.93 per share and it actually produced earnings of $6.07 per share, delivering a surprise of 2.36%.

Price and EPS Surprise

With this earnings history in mind, recent estimates have been moving higher for FedEx. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.

Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

FedEx has an Earnings ESP of +1.19% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #2 (Buy), it shows that another beat is possibly around the corner. The company's next earnings report is expected to be released on December 18, 2025.

When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indicative of a stock's earnings miss.

Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missing the consensus estimate.

Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Companies

Strategy Adds 130 BTC Worth $11.7M, Holdings Reach 650,000 as $1.44B Dividend Reserve Set

TL;DR Strategy bought another 130 BTC for $11.7 million, bringing its treasury to 650,000 BTC, a position valued at around $56 billion. The purchases were

Bitcoin News

Bitcoin Price Risks Drop Below $80K as Concerns Over ‘MSTR Hit Job’ Intensify

TL;DR The price of the pioneering cryptocurrency is once again under pressure. Now, it exposes a risk of further declines as a weakened technical structure

Bitcoin News

Even at $25K: Strategy Says Bitcoin Crash Wouldn’t Threaten Financial Stability

TL;DR Strategy emphasizes that its financial protection remains intact even under a steep BTC decline. BTC currently trades above $86,000, supported by growing institutional participation

flash news

Michael Saylor’s Strategy Falters, but His Bitcoin Bet Holds Strong

MicroStrategy CEO Michael Saylor confirmed today that while the company’s stock has experienced volatility, its Bitcoin investment strategy remains intact. Saylor emphasized that the long-term

flash news

Michael Saylor Posts “Endurance” as Bitcoin Crashes Below $82,000

Michael Saylor, Chairman of Strategy, responded to Bitcoin’s crash below $82,000 with an X post showing only the word “Endurance” alongside an AI-generated polar-style image,

Companies

Crypto Spotlight: Michael Saylor Responds to MSCI Report

TL;DR Michael Saylor speaks out again because a change in classification by MSCI could remove Strategy from major indices. A JPMorgan report warns that such

Sharp 24-hour decline sends Internet Computer into fresh multi-day lows, with a high-volume support breach defining the sessionUpdated Dec 1, 2025, 4:31 p.m. Published Dec 1, 2025, 4:29 p.m.

ICP$3.6782 declined sharply over the latest 24-hour window, sliding 7.3% to trade near $3.7065 as the token broke decisively below the $3.99–$4.00 support band.

The move unfolded across an 11.3% intraday range, with the steepest losses occurring during a high-volume flush near the 23:00 UTC hour on November 30, according to CoinDesk Research's technical analysis data model.

STORY CONTINUES BELOW

A major volume spike — 1.83 million tokens, roughly 300% above the short-term average — accompanied the breakdown through $3.99, reinforcing the technical significance of that level. Momentum extended lower into December 1, with total volume reaching 6.85 million tokens, one of the highest readings for ICP in recent days.

Price eventually steadied in the $3.55–$3.65 zone, forming a short-term base before recovering toward $3.69–$3.70. Despite the bounce, the broader structure remains bearish, with a clean series of lower highs visible on the chart and resistance now firmly established at the former $3.99–$4.00 support.

Intraday data shows a period of narrow consolidation between $3.645–$3.700, followed by a small lift that coincided with a localized volume uptick. That move helped reinforce the near-term support band but did not yet alter the overall downward trajectory.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.View Full Report

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The token broke below $12, breaching key support levels with heavy trading volume, confirming the downtrend.

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

Strategy CEO Phong Le has revealed the instance in which his company may be forced to sell its Bitcoin holdings. This comes amid concerns about the MSTR stock crash, which puts the company at risk of seeing its mNAV drop below 1. 

During an interview on the ‘What Bitcoin Did’ podcast, the Strategy CEO said they could sell Bitcoin to fund dividend payments on their preferred shares if the mNAV is trading below 1. He alluded to the BTC yield, which is their primary KPI, and that under 1x mNAV, it is more “creative” to sell their BTC holdings to pay the dividends. 

The Strategy CEO explained that they typically raise capital when their mNAV is above 1 to fulfill their obligations, even when it is below 1. He alluded to the 2022 crypto winter when they bought back their Bitcoin-backed loans as proof that they had prepared in advance for such market conditions. However, when they are unable to raise capital, Phong Le stated that they will have no option but to sell their BTC holdings. 

Source: Chart from Strategy
Strategy data shows that their mNAV is currently at 1.19. Meanwhile, the company currently holds 649,870 BTC, worth around $55 billion. With the MSTR stock on a downtrend, Michael Saylor’s company still faces the risk of seeing its mNAV fall below 1 for a sustained period. TradingView data shows that the stock is now down over 40% year-to-date (YTD) from a 2025 high of around $455. 

There were recently rumors that Strategy supposedly sold some of its Bitcoin holdings, which Saylor quickly denied. The company then went on to make one of its largest purchases this year, buying 8,178 for $836 million. This formed part of the proceeds from the company’s STRE offering. 

Saylor Teases Another Bitcoin Purchase
In an X post, Michael Saylor teased another Bitcoin purchase from Strategy. He posted the company’s BTC portfolio tracker with the caption, “What if we start adding green dots?” It is worth noting that these conventional Sunday posts have usually preceded a BTC purchase announcement by the company the following day. 

Based on this, Strategy likely bought more Bitcoin between November 24 and 30 last week. This comes amid the Bitcoin downtrend, with the flagship crypto again dropping below the psychological $90,000 level. Besides the BTC crash, the possibility of an exclusion from MSCI indices is another factor that paints a bearish picture for Saylor’s company. The MSCI will decide by January next year whether treasury companies like Strategy should remain in their indices. 

At the time of writing, the BTC price is trading at around $86,000, down over 5% in the last 24 hours, according to data from CoinMarketCap.

BTC trading at $86,522 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from Pixabay, chart from Tradingview.com

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

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts.
Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

Bitcoin ETFs suffered a record $3.79 billion in outflows in November as price weakness deepened, risk sentiment deteriorated, and investors rotated into alternative crypto assets.

Summary

Bitcoin ETFs saw $3.79B in outflows, the most significant monthly withdrawal on record.
Institutions shifted capital into Solana, XRP and thematic crypto ETFs.
Macro headwinds and thinning liquidity amplified Bitcoin’s short-term downside pressure.

Bitcoin-linked exchange-traded funds, or ETFs, experienced their toughest month since launch, with nearly $3.8 billion withdrawn from spot Bitcoin funds in November. The heavy redemptions followed weeks of profit-taking, worsening macroeconomic sentiment, and a noticeable shift toward alternative crypto instruments.

These factors combined to put Bitcoin under meaningful short-term pressure, raising questions about whether this decline marks a structural trend or a temporary market rotation.

Key Bitcoin ETF developments

Spot Bitcoin ETFs saw $3.79 billion in November outflows, the largest monthly total on record.
BlackRock’s IBIT and Fidelity’s FBTC accounted for over 90% of redemptions, signaling large-scale institutional unwinding.
One of the steepest days occurred on November 20, with nearly $903 million leaving ETFs in a single session.

BTC ETF Net Inflows: Source: CoinGlass
November’s ETF exodus reflected a sharp reversal in institutional appetite for Bitcoin exposure. The asset spent much of 2025 rallying from the $90,000 region to new highs, giving investors an incentive to scale back positions when macro headwinds intensified. As interest rates remained elevated and global risk sentiment weakened, selling pressure intensified and ETF inflows flipped negative.

The heaviest redemptions were concentrated in the two dominant funds: IBIT and FBTC. Their outsized withdrawals shaped the entire month’s trajectory, highlighting that institutional desks, not retail investors, were driving the reversal. The nearly billion-dollar outflow on November 20 showed how aggressive the unwind became during peak selling.

However, capital exiting Bitcoin did not leave the crypto ecosystem entirely. Instead, institutional flows began shifting toward altcoin-focused ETFs, particularly Solana and XRP products. Solana ETFs reportedly saw more than $531 million in inflows, while XRP funds attracted over $400 million.

This suggests that investors are rotating toward assets they believe may outperform Bitcoin in the next phase of the market cycle, which is a notable difference from previous periods when Bitcoin dominated ETF demand.

Macro conditions added another layer of pressure: a strong U.S. dollar, ongoing inflation concerns and cautious central bank communication limited appetite for risk assets. As liquidity tightened into year-end, ETF redemptions accelerated, reinforcing Bitcoin’s declining momentum through the month.

A broader trend also emerged across institutional portfolios: reduced concentration in Bitcoin and increased allocation to thematic digital-asset exposure. Several trading desks shifted capital into ETFs tied to Web3 infrastructure, smart-contract platforms and tokenized real-world assets (RWAs).

This diversification shows a maturing institutional approach, but it also means Bitcoin is facing greater competition for capital in regulated markets. In the short term, this redistribution makes it harder for Bitcoin to maintain dominance when sentiment becomes defensive.

Despite the severity of November’s numbers, the environment is different from the 2022 crypto winter. There have been no major exchange collapses, no liquidity failures, and no widespread structural breakdowns. Instead, the decline appears linked to macro pressures and strategic rotation rather than internal issues within the crypto industry. The regulated ETF framework also provides a smoother pathway for capital to return once confidence improves.

What to expect in the coming developments
If ETF outflows continue to slow and macro pressures ease, Bitcoin may begin to stabilize as liquidity improves. Even modest inflows can tighten supply quickly in the post-halving environment. However, ongoing weakness in ETF demand could leave Bitcoin exposed to further near-term downside.

Coinbase whales turn on ‘mass sell' mode, pushing PEPE an inch closer towards a full all-time high reversal.

YZiLabs says BNB Network's rollout has faltered, citing sluggish investor updates and a gap between the stock and its underlying BNB holdings.

The average network hashrate fell 1% last month after hitting record highs in October. Dec 1, 2025, 4:45 p.m.

Bitcoin BTC$86,563.37 mining profitability declined for the fourth month in a row in November, according to a Monday report by JPMorgan (JPM).

Daily block reward gross profit also slumped 26% from the month previous, analysts Reginald Smith and Charles Pearce wrote.

STORY CONTINUES BELOW

The Bitcoin network hashrate dropped 1% to an average of 1,074 exahashes per second (EH/s) in November, the report said, after hitting a record high in October.

"Bitcoin miners earned an average of $41,400 per EH/s in daily block reward revenue in November, down 14% from October and 20% y/y," the analysts wrote.

The hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain, and is a proxy for competition in the industry and mining difficulty.

The combined market cap of the fourteen U.S.-led miners that the bank tracks fell 16% month-on-month to $59 billion.

Cipher Mining (CIFR) outperformed the group with a 9% gain, supported by its recent Fluidstack deal.

Bitdeer (BTDR) underperformed with a 40% decline, the report added.

Read more: Bitcoin Miners Cipher and CleanSpark Upgraded by JPMorgan as HPC Shift Accelerates

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