Market Signal Briefing

Google’s parent company Alphabet (NASDAQ: GOOGL) is ending November on a high, but the latest technical readings now point to a potential cooldown after one of its strongest rallies in years. 

In this line, the stock’s 14-day relative strength index has surged to 73.73 as of November 29, 2025, placing GOOGL firmly in overbought territory. 

Over the past month, GOOGL has rallied more than 16%, trading at $320 as of press time.

GOOGL one-week stock price chart. Source: Finbold
Historically, RSI levels above 70 have often signaled a potential reversal, with stocks tending to face pullbacks or corrections in the following weeks. This dynamic is particularly relevant for a stock like Alphabet, whose valuation has soared as investor enthusiasm outpaced underlying fundamentals.

Why GOOGL has rallied 
The caution comes at a time when Google has been one of the standout performers among mega-cap technology names. The launch of Gemini 3, Alphabet’s new flagship AI model, has attracted massive investor interest. 

Notably, Gemini 3 has been praised for its advanced capabilities, including superior multimodal features and complex reasoning, which many analysts believe could outpace even OpenAI’s GPT-4 and other AI competitors. 

Its integration across Google Search, Google Cloud, and the company’s productivity tools has fueled optimism about strong AI-driven revenue growth ahead.

Alphabet also received a significant boost from Berkshire Hathaway, which disclosed a $4.9 billion stake in the company. The endorsement from Warren Buffett’s investment firm has strengthened investor confidence and delivered a rare stamp of approval for Alphabet’s long-term prospects.

Meanwhile, broader market sentiment has also been favorable, with rising expectations that the Federal Reserve may soon cut interest rates. The shift has fueled renewed appetite for growth stocks like Alphabet, further powering its impressive November rally.

Featured image via Shutterstock

The quantum computing company's valuation looks excessive when compared to the entire industry.

The quantum computing industry is in its early growth days. It'll likely be many years before quantum computers are common. While many tech experts believe there is a lot of potential for them to improve efficiency and productivity, the big question always leads back to when that will actually happen. And that's the biggest unknown at this stage.

That also means that for the foreseeable future, companies such as Rigetti Computing (RGTI +0.00%) are likely to incur losses. With limited revenue and significant costs, including research and development, investors should brace for the likelihood of not only continued losses, but stock offerings as well, as these companies need money to fund their future growth.

Rather than focusing on the $201 million loss that Rigetti posted last quarter, there's one figure that may be more important for investors to consider before investing in the company.

Image source: Getty Images.

The entire industry might be worth just over $4 billion by the end of the decade
Valuing a stock like Rigetti is difficult because it's in such early stages of its growth. Relying on revenue or earnings multiples is of no help to investors who know that it's going to be a long journey ahead. If Rigetti proves to be a big player in a huge industry, then the stock could easily be a 10x investment. The problem is that it's by no means a certainty.

However, one number that investors shouldn't overlook is $4.2 billion. That's what analysts at Grand View Research project the entire global quantum computing industry will be worth by 2030. While that's a sizable increase from the $1.4 billion they estimate it was worth last year, that's still far less than Rigetti's market cap of $8.4 billion. The company is worth close to double what analysts believe the entire industry will be worth in five years.

These are estimates only, but they help put into perspective just how outlandish Rigetti's valuation has become in relation to the size of the industry. While the temptation may be to say that its valuation might make sense when looking at the longer run (i.e., 10 or 20 years), there is no way of knowing whether Rigetti will even be around that long.

Dilution is a big risk for investors
When a company continues to burn through cash and incur losses, it's inevitable that it'll need to raise money to keep the lights on and to reinvest in its growth. This year, Rigetti is on track to burn through more than $50 million from its day-to-day operating activities, which will be the fourth consecutive year it has done so. Unsurprisingly, its share count has risen significantly in recent years, and that trend is likely to continue in the years ahead.

Data by YCharts

This can be a troubling trend for investors because as the company issues more shares, that dilutes existing shareholders, adds to the supply, which then also puts downward pressure on the share price. If there isn't a corresponding increase in buyers, then it can make the stock decline significantly in value.

Although Rigetti is a hot buy right now, it wasn't all that long ago that it wasn't. Back in 2022, when the markets were bearish on risky growth stocks, Rigetti lost a whopping 93% of its value. While that may not happen again, that volatility and uncertainty is a risk that investors should consider with this highly speculative stock.

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Even if you're bullish on quantum computing, you'll want to tread carefully with Rigetti
How quantum computing plays out is still a big unknown. Whether it'll be years or decades before quantum computers are used regularly is anyone's guess. The bigger issue is that it's also next to impossible to predict winners today.

That's why it may be a good idea to take a wait-and-see approach with this area of tech. However, if you do crave some exposure, then you may be better off holding a basket of similar stocks through an exchange-traded fund, to at least ensure you aren't too dependent on how a single company does, whether it's Rigetti or any other quantum computing stock.

Berkshire Hathaway holds Alphabet and Amazon in its portfolio.

Warren Buffett might just be the greatest investor of all time. Between 1964 and 2024, Buffett's investment conglomerate, Berkshire Hathaway, generated an overall gain of 5,502,284% compared to the S&P 500's 39,054% appreciation.

With such an epic performance, I think it's fair to say that when Buffett picks a stock for his portfolio, it's probably a good idea to try and understand what the Oracle of Omaha sees. While Berkshire has always limited its exposure to volatile growth stocks -- particularly in the technology sector -- two positions are beginning to stick out to me.

Let's break down the two quantum computing stocks that have caught Buffett's eye and assess if they are good buys right now.

1. Alphabet
A couple of weeks ago, Berkshire published its 13F filing for the third quarter. A 13F is a required disclosure that breaks down which stocks institutional investment funds with over $100 million in stocks bought and sold during the most recent quarter.

Throughout the artificial intelligence (AI) revolution, Buffett has remained on the sidelines -- stockpiling record sums of cash instead of chasing frothy momentum stocks. However, Berkshire's most recent filings revealed a new position: internet giant Alphabet (GOOGL +0.06%) (GOOG 0.05%). Interestingly, Berkshire's $4.3 billion investment in Alphabet was the only new stock Buffett added to the portfolio during the third quarter.

To date, Alphabet's AI progress is most easily seen in its core products across search and cloud computing. For instance, Google has changed its interface to look a lot like that of ChatGPT -- integrating an AI mode whereby users input a query and receive an AI-generated response as opposed to clicking through individual webpages on their own.

In addition, Google Cloud Platform (GCP) competes heavily with Microsoft Azure, Amazon Web Services (AWS), and to a degree, even rivals Nvidia thanks to Alphabet's custom silicon hardware -- called Tensor Processing Units (TPUs).

Beyond these product segments, Alphabet is quietly developing its own quantum AI stack. The company has designed its own chip, called Willow, and also introduced an open-source quantum software suite to developers, called Cirq.

Image source: Getty Images.

2. Amazon
Outside of Alphabet, Buffett's most direct exposure to AI and quantum computing is Berkshire's position in Amazon (AMZN +1.77%). Just like Alphabet, Amazon's AI roadmap primarily revolves around its existing offerings: e-commerce and cloud infrastructure.

On the e-commerce side, Amazon uses AI to analyze consumer shopping data in order to refine its recommendation algorithms. In cloud computing, Amazon has invested billions into a start-up called Anthropic, which has become a lucrative tailwind for emerging services introduced to the AWS suite.

Amazon has also designed its own custom quantum computing chip, called Ocelot. Moreover, the company introduced a quantum AI platform within AWS called Amazon Bracket, which can integrate with pure-play architectures from IonQ.

Image source: The Motley Fool.

What do Alphabet and Amazon have in common?
While many perceive Buffett as some sort of stock-picking genius, the acclaimed investor actually subscribes to a simple formula. In addition to not following the crowd -- what some call contrarian investing -- Buffett is a stickler for value. In other words, Berkshire does not allocate capital toward overstretched valuations.

Furthermore, Buffett is always thinking about the long run. He is not known for trading, nor does he invest in vulnerable businesses that hinge on a singular product or customer demographic. When taken together, it becomes clear that Buffett seeks out durable and diversified businesses that are positioned for any economic cycle -- all for a reasonable price.

While Berkshire now has exposure to AI, and by extension, the quantum computing revolution, it's highly unlikely that these factored much into Buffett's thesis.

Instead, Buffett is attracted to both Alphabet's and Amazon's formidable ecosystems that span a number of critical services used by consumers on a daily basis: e-commerce, consumer electronics, entertainment, streaming, gaming, cloud computing, enterprise software, advertising, logistics and delivery, and so much more.

AMZN PE Ratio (Forward) data by YCharts

Considering both Alphabet and Amazon are experiencing some compression in their valuation multiples, it could be argued that investors are not fully pricing in the long-run potential of each company's growth prospects in the AI era.

I think these dynamics compelled Buffett to pounce on Alphabet and complement Berkshire's existing technology ecosystem positions, Amazon and Apple. All of these companies have proven to be resilient, cash-generating machines over the last several decades, all while commanding a level of global brand recognition that is tough to rival.

Against this backdrop, I see Alphabet and Amazon as compelling positions to buy and hold for the long run -- with or without AI factoring into the equation.

Adam Spatacco has positions in Alphabet, Amazon, Apple, Microsoft, and Nvidia. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Berkshire Hathaway, IonQ, Microsoft, and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

One big investor walked away just as Gildan prepares its biggest transformation in years.

On November 14, Connecticut-based Coliseum Capital Management fully exited its position in Gildan Activewear (GIL 2.65%), reducing exposure by $49.5 million, according to a new SEC filing.

What HappenedAccording to a U.S. Securities and Exchange Commission (SEC) filing dated November 14, Coliseum Capital Management reported a complete sale of its stake in Gildan Activewear, amounting to a reduction of about 1 million shares. The estimated value of the transaction, based on the quarterly average price, was approximately $49.5 million.

What Else to KnowTop holdings after the filing: 

NASDAQ: SONO: $235.9 million (23% of AUM)NYSE: HRI: $222.3 million (21.7% of AUM)NYSE: NATL: $106.3 million (10.4% of AUM)NYSE: MBC: $99.6 million (9.7% of AUM)NYSE: UTI: $88.4 million (8.6% of AUM)As of Friday, shares of Gildan Activewear were priced at $55.82, up 13% over the past year and only slightly underperforming the S&P 500's 14% gain in the same period.

Company OverviewMetricValuePrice (as of market close Friday)$55.82Market capitalization$8.3 billionRevenue (TTM)$3.4 billionNet income (TTM)$475.1 millionCompany SnapshotGildan Activewear is a leading global manufacturer of basic apparel, leveraging scale and vertical integration to deliver cost-efficient products to a broad customer base. The company’s diversified brand portfolio and extensive distribution network support its competitive positioning in the apparel manufacturing sector. Its strategic focus on operational efficiency and brand strength has enabled consistent financial performance and international market reach. The company primarily serves wholesale distributors, screen printers, retailers, and lifestyle brand companies across North America, Europe, Asia-Pacific, and Latin America.

Foolish TakeColiseum's exit comes at an interesting time for Gildan, which isn’t just another apparel manufacturer right now—it’s in the middle of reshaping its entire scale and competitive position through its planned $2.2 billion acquisition of HanesBrands, a deal expected to double revenue and unlock $200 million in annual cost synergies within three years, according to the company’s announcement. Yet despite that backdrop, a large shareholder chose to exit entirely.

A new SEC filing shows the fund sold all 1 million shares of Gildan Activewear in the third quarter, a reduction worth roughly $49.5 million based on quarterly average prices. That move shifts Gildan out of a portfolio now dominated by Sonos, Herc Rentals, and National Storage Affiliates.

Gildan’s most recent earnings underscore the magnitude of what investors are underwriting. The company reaffirmed 2025 guidance and highlighted a record adjusted operating margin of 23%. Management has emphasized the deal as a “historic moment,” noting that the merged platform will create one of the largest global apparel players by units sold. Nevertheless, some might be left wondering: Does the HanesBrands acquisition materially enhance Gildan’s moat—or introduce integration risk at the wrong time?

GlossaryExited its position: When an investor sells all shares of a particular investment, fully closing out their holding.

13F reportable assets: Assets that institutional investment managers must disclose in quarterly SEC Form 13F filings.

Assets under management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.

Position: The amount of a particular security or asset held by an investor or fund.

Fund downsizing: The process of reducing the total assets or holdings managed by an investment fund.

Stake: The ownership interest or share an investor holds in a company.

Wholesale distribution: Selling goods in large quantities to businesses, rather than directly to consumers.

Screen printers and embellishers: Businesses that print designs or add decorative elements to apparel and textiles.

Vertical integration: A company’s ownership and control of multiple stages of its production or supply chain.

Brand portfolio: The collection of brands owned and managed by a single company.

Operational efficiency: The ability of a company to deliver products or services using the least amount of resources.

TTM: The 12-month period ending with the most recent quarterly report.

NEUHAUSEN, Switzerland--(BUSINESS WIRE)--Sensormatic Solutions, the leading global retail solutions portfolio of Johnson Controls (NYSE: JCI), today shared its initial analysis of Black Friday in-store traffic for the 2025 U.S. holiday season. According to its ShopperTrak Analytics insights, which captures 40 billion store visits globally each year, retail visits on the annual shopping holiday were down slightly compared to 2024 (-2.1%), but shopper traffic was in-line with 2025 year-to-date (-.

The hot quantum computing stock faces some burning questions.

IonQ (IONQ +5.11%) began trading in late 2021, but it took a few years to gain traction with investors.

However, since Wall Street's interest in quantum computing surged last year, IonQ has been a market darling. Shares peaked at $84.64 in October, putting their lifetime gain at nearly 700%. However, the stock has fallen sharply amid recent market volatility and now trades 45% off its all-time high.

It's a classic conundrum for investors: Buy the dip or not?

Share prices don't tell the whole story, though. Despite the stock's stellar returns over the past year and a half, investors may not want to rush out and buy the stock now. Here's why.

Image source: Getty Images.

IonQ stock is still wildly disconnected from its business fundamentals
When evaluating any stock, it's important to look at the hard numbers. This can serve as a quick litmus test before putting those numbers in context to better understand what you're paying for with your hard-earned capital.

For IonQ, it definitely seems like investors are mainly paying for promise rather than substance. The company still has a $17.5 billion market cap following its recent decline, yet management anticipates finishing the year with total revenue of just $106 million to $110 million.

That gives the stock a price-to-sales (P/S) ratio of approximately 160, making IonQ one of the most expensive stocks on the market right now. Does it merit such a premium? Certainly not due to its profits; the company reported a $1.3 billion net loss through the first nine months of 2025.

Even if you're 100% sold on the quantum computing opportunity and IonQ as the company that will dominate it, buying the stock at such an inflated valuation exposes you to immense risk.

The doubts surrounding IonQ
IonQ faces three central questions:

How big is the actual quantum computing opportunity?
How much of that opportunity will IonQ capture?
How profitable can IonQ be?

Estimates vary widely for what the actual addressable market will be. For instance, IonQ points to one study that estimates quantum computing will create $1 trillion to $2 trillion in economic value over the next decade. Then, you have a report from Grand View Research, which estimates the market will grow to just $4.2 billion by 2030.

Quantum computers are highly susceptible to their operating environment. They're currently too error-prone for meaningful real-world uses. That will change over time as the technology improves, but it's unclear when and how it will translate into real market value for the companies in this space.

IonQ currently sells access to its latest quantum computers via the cloud, partnering with cloud providers such as Amazon, Microsoft, and Alphabet. But these companies are also developing their own quantum computing technology.

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If quantum computing realizes its potential, IonQ is bound to face stiff competition from these larger, more entrenched tech giants, as well as a handful of other pure-play companies. That makes it difficult to know where IonQ will ultimately rank in the industry, or what competition might mean for its growth and earnings outlook.

That's not to say that IonQ can't emerge as a quantum computing winner, but it's fair, at the very least, to point out these concerns.

It doesn't hurt to stay patient and let IonQ prove itself
All those questions bolster the argument for taking a wait-and-see approach with this stock. The higher the valuation, the higher the stock has to fall if it turns out IonQ isn't as well-positioned for quantum computing, or if the market opportunity isn't as lucrative as hoped.

The stock could also plunge further if the broad market experiences increased volatility. Few stocks trade at more than 20 to 30 times revenue, let alone IonQ's triple-digit valuation.

It may be wise to sit back and monitor IonQ from the sidelines and let it prove itself. The company has spent a lot of money on acquisitions recently, which seems to have fueled much of the impressive revenue growth reported over the past year.

Investors should look for clearer commercial momentum with organic revenue growth driven by increased demand for its quantum computers, not acquisitions. If the recent results prove sustainable, the stock's P/S ratio should fall to a more reasonable level, giving investors a better entry point.

It might be time to look a bit off the beaten path, at names that can stand up to any AI-stock-led correction.

Got some cash you're ready to put to work for a while? That's not easy to do these days. It feels like AI stocks are overperforming at the expense of everything else. If those AI stocks suffer an overdue price correction, though, it still feels like everything else could suffer as well. Talk about a catch-22!

The good news is, risks and rewards aren't quite as imbalanced for every name as they seem to be on the surface. You just need to dig a bit deeper than you normally might to find risk/reward scenarios that make sense. Here's a closer look at three such prospects that might just be worth a $1,000 investment.

Image source: Getty Images.

GE Vernova
By the time General Electric decided in 2021 to split itself up into more logical, stand-alone entities, it was too late. Investors had already lost hope -- and interest -- convinced the once-great titan had no place in the 21st century.

As it turns out, however, at least one of its spinoffs has proven it's still relevant. That's GE Vernova (GEV +1.70%) -- the business unit that manufactures heavy machinery for the wind, nuclear, hydro, and steam power production industries. It also makes grid-connectivity tech, storage solutions, and the software needed to make it all work. The company did $35 billion worth of business last year (nearly half of which was recurring revenue stemming from services), up 5% year over year, but also received orders for more than $44 billion worth of equipment.

This is likely only the beginning, though, given the growing need for power driven by the proliferation of artificial intelligence data centers. Earlier this year, Goldman Sachs predicted that by 2030 the industry would need 165% more electricity than it's currently consuming.

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As nice as it would be to meet this need with clean renewable energy sources, this option just isn't feasible yet. The traditional power plants provided by GE Vernova will have to do for now and into the foreseeable future. Data center owners/operators are now even going directly to the source. Earlier this year, AI infrastructure provider Crusoe ordered an additional 19 gas turbines from GE Vernova to generate electricity right where it's being consumed, upping Crusoe's total order to 29 units.

This is just a taste of GE Vernova's future. As of the end of the third quarter, the company's total backlog stands at $135.3 billion, and continues to grow faster than it's delivering this machinery.

CRISPR Therapeutics
The idea of "editing" human genetic code has been around for decades. It's just not been possible.

That is, until now. Several years ago, Emmanuelle Charpentier, Ph.D., and Jennifer Doudna, Ph.D., recognized the potential of using a particular protein to find and cut into bacterial DNA's clustered regularly interspaced short palindromic repeats -- or CRISPR -- to repair damage it may not be able to repair on its own. The rest, as they say, is history.

Charpentier and Doudna founded CRISPR Therapeutics (CRSP +0.32%) shortly thereafter, soon beginning human clinical trials based on this science. The pair won a Nobel Prize in Chemistry for their work back in 2020, in fact, even before the company won its first-ever approval for any gene-editing therapy back in late 2023. That's Casgevy, for the treatment of transfusion-dependent beta thalassemia.

This approval, however, doesn't represent the full potential of CRISPR-based gene-editing. That's a big reason this biotech stock really hasn't budged since Casgevy was approved -- investors may be waiting to see how trials of its cardiovascular disease and diabetes therapies pan out before diving in. That, and the fact that the market may not recognize it can take months to make and then administer patient-specific dosing of Casgevy.

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It's coming, though. Analysts expect more than a quadrupling of this year's projected top line for next year, once many of Casgevy's earliest patients finally begin receiving their full revenue-bearing doses of the drug.

But as veteran investors can attest, a wait-and-see approach isn't always the right one. Once the market realizes there's a multi-month lag between the point in time where treatment begins and when billing is completed, it could light a fire under the stock. Updates on its CRISPR-based drug CTX112 for the treatment of several different ailments in the year ahead could also prove catalytic, if only by virtue of validating this approach to gene-editing.

Taiwan Semiconductor Manufacturing
Finally, if you've been keeping tabs on the semiconductor industry's biggest names of late, then you likely already know that some once-unthinkable partnerships are being forged. Intel and Nvidia are now jointly developing artificial infrastructure tech, for instance, while Microsoft continues to work with OpenAI even though OpenAI's ChatGPT competes with Microsoft's AI-powered chat-based assistant Copilot. Nothing appears to be off-limits anymore.

Yet, understandably so. Demand for artificial intelligence computing tech is growing faster than the industry can deliver it. Whatever meets the need fastest is the "right" solution.

There's one name in the industry that doesn't need to forge any partnerships it doesn't want to, though. That's Taiwan Semiconductor Manufacturing (TSM +0.54%), which -- despite the industry's best efforts to wean itself from its deep dependence on the company -- still reportedly manufactures the vast majority of the world's high-performance computer chips. As it turns out, building competing semiconductor foundries is complicated, expensive, and time-consuming. Just ask Intel, which has dialed back its ambitious plans made during the pandemic to start manufacturing more of its own and others' silicon.

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Even Nvidia (which is a major customer of Taiwan Semiconductor Manufacturing) sees it. Nvidia CEO Jensen Huang commented in August, "I think TSMC is one of the greatest companies in the history of humanity, and anybody who wants to buy TSMC stock is a very smart person," indirectly acknowledging the third-party manufacturer's dominance of the chipmaking market isn't at any real risk in the near or distant future.

This doesn't mean the company's results don't ebb and flow. It just means that lulls like the stock's pullback from October's peak are a buying opportunity.

Affirm has surged an average of 9.1% in the week after Black Friday.

Here's why a fast-rising pharmaceutical trimmed—and not abandoned—by a specialist fund signals ongoing conviction in the stock.

San Francisco-based 5AM Venture Management reduced its stake in Centessa Pharmaceuticals (CNTA +0.17%) by 150,000 shares in the third quarter, according to a November 14 SEC filing.

What HappenedAccording to a filing published with the Securities and Exchange Commission on November 14, 5AM Venture Management disclosed a reduction in its Centessa Pharmaceuticals position. The fund reported holding 680,945 shares, down by 150,000 shares from the previous quarter. Despite the sale, the overall position value still increased given the stock's sharp rise last quarter of more than 80%. The revised stake was valued at approximately $16.5 million as of September 30, representing approximately 6.1% of the fund’s approximately $273 million in reportable assets.

What Else to KnowTop five holdings after the update: 

NASDAQ:SKYE: $38 million (13.9% of AUM)NASDAQ:TRDA: $24.7 million (9.0% of AUM)NASDAQ:PHVS: $19.9 million (7.3% of AUM)NASDAQ:CAMP: $17.6 million (6.4% of AUM)NASDAQ:CNTA: $16.5 million (6.0% of AUM)As of Friday, Centessa shares were priced at $29.03, up a staggering 65% over the past year and far outperforming the S&P 500, which is up 14% in the same period.

Company OverviewMetricValuePrice (as of market close Friday)$29.03Market capitalization$4.2 billionRevenue (TTM)$15. millionNet income (TTM)($242.7 million)Company SnapshotCentessa Pharmaceuticals is a biotechnology company headquartered in the United Kingdom that is developing a pipeline of clinical-stage biopharmaceutical products, including Lixivaptan for autosomal dominant polycystic kidney disease and SerpinPC for hemophilia, as well as early-stage assets targeting rare diseases and immunological conditions. Centessa targets patients with rare and serious diseases, as evidenced by its clinical programs in conditions such as hemophilia, autosomal dominant polycystic kidney disease, alpha-1-antitrypsin deficiency, pulmonary arterial hypertension, and certain autoimmune diseases. The company serves a global base of patients, healthcare providers, and research institutions focused on rare and underserved medical conditions.

Foolish TakeTrimming a position after a major rally can be as telling as doubling down—especially when the underlying science is still early but showing real momentum. Centessa has become one of the sector’s standout performers, and the biotech-focused fund’s decision to reduce—not exit—its stake signals continued conviction even as the company’s valuation has surged on clinical progress.

Centessa’s orexin agonist platform remains the key driver. In its latest update, management reported Phase 2a data showing “statistically significant, clinically meaningful and dose-dependent” improvements across wakefulness measures for ORX750, with a favorable safety profile across cohorts. CEO Saurabh Saha called the data “significant progress” and highlighted plans to begin a registrational program in the first quarter of 2026. Financially, Centessa posted a third-quarter net loss of $54.9 million and ended the quarter with $349 million in cash, equivalents, and investments—enough to fund operations into mid-2027. The company also strengthened its balance sheet with an announced $250 million public offering at $21.50 per ADS.

For long-term investors, the takeaway is clear: The trimmed position likely reflects portfolio management, not diminishing confidence. The best evidennce is that the fund kept Centessa among its top holdings, underscoring the potential of a pipeline that could reshape treatment for multiple sleep-wake disorders.

Glossary13F reportable AUM: Assets under management that must be disclosed in quarterly SEC filings by institutional investment managers in the U.S.

Stake: The ownership interest or investment a fund or individual holds in a particular company.

Position: The amount of a specific security or asset held by an investor or fund.

Clinical-stage: Refers to pharmaceutical products currently being tested in human clinical trials but not yet approved for sale.

Pipeline: The portfolio of drug candidates a pharmaceutical company is developing, often at various stages of research and testing.

Autosomal dominant polycystic kidney disease: A genetic disorder causing cysts in the kidneys, leading to kidney enlargement and impaired function.

Immunological conditions: Diseases or disorders related to the immune system's function or regulation.

Modular R&D model: A research and development approach where projects are managed independently to increase flexibility and speed.

Outperforming: Achieving better returns or results than a benchmark or comparable group.

Assets under management (AUM): The total market value of investments managed by a fund or investment firm.

TTM: The 12-month period ending with the most recent quarterly report.

Net value change: The difference in the value of an investment position after buying or selling securities.

Investors are still underestimating this large technology player.

The ground is shifting in the battle for artificial intelligence (AI) supremacy. For a few years, OpenAI and its viral ChatGPT model have reigned over the technology competition, catching some of the big technology players off balance with how well the conversational AI tool was catching on with both consumers and software developers.

Now, the big technology players are beginning to fight back. Especially Alphabet (GOOG 0.05%) (GOOG 0.05%). The company's AI chatbot, Gemini, has grown its market share vs. ChatGPT, and it just launched a new model that reportedly blows the latter's capabilities out of the water.

Alphabet's stock has rallied already on this Gemini news, but it could rally even further in 2026 if these product launches start turning into massive amounts of new revenue. 

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Rolling out Gemini 3
The launch this month of Gemini 3 could be described as the first moment Alphabet is playing offense instead of defense vs. the AI start-ups. Gemini 3 is the culmination of a decade-long investment the company has been making in AI, from infrastructure to consumer tools.

Gemini 3 is being deployed across the whole Google suite of products, including AI Mode in Google search results. Besides chatbot responses, Gemini 3 has deep-thinking research, lifelike image generation, coding development, and a slew of other products, all at the cutting edge.

Alphabet is able to deploy all these computationally intensive tasks at scale because of its AI infrastructure capabilities across Google Cloud, all powered by its internal computer chip called the Tensor Processing Unit (TPU) that is tailor-made for its own systems. No other big technology player -- let alone OpenAI -- has this level of infrastructure today, giving Alphabet an advantage in deploying AI tools at scale to users without breaking the bank.

Image source: Alphabet.

Can Alphabet dethrone OpenAI?
Before the launch of Gemini 3, Alphabet was already gaining on OpenAI. Its market share for AI chatbots had grown from close to nothing to an estimated 15%, making it the second-largest player in the space. Monthly active users (MAUs) were 650 million as of the latest update, compared to 800 million weekly users for ChatGPT (it is not disclosed how many weekly users of Gemini there are).

Now, Gemini 3 may help steal even more market share as it leapfrogs in capability ahead of ChatGPT. Gemini is still second in downloads on the App Store compared to ChatGPT, but that underplays the actual use of Gemini across other Alphabet products like Google Search and Google Docs. Over time, we should see Gemini integrated into even more Google properties, such as Google Maps and YouTube.

This gives Gemini -- and Alphabet -- a huge runway to keep growing usage of its AI products in the coming years, with the infrastructure backbone to make it happen.

GOOG Revenue (TTM) data by YCharts

Alphabet's revenue potential
Today, direct revenue from Gemini is rather small compared to Alphabet's total trailing-12-month revenue of $386 billion. It will be many years, if not over a decade, before it makes up a large portion of Alphabet's business.

What should excite investors right now is the potential for Alphabet to generate indirect revenue from Gemini by plugging the AI into its other properties, like Google Search and YouTube. This has led to steady revenue growth for the business, and should continue to propel revenue higher in the years to come. Sam Altman believes OpenAI can hit hundreds of billions in revenue because of ChatGPT, but that may flow to Alphabet instead if Alphabet leads the pack in AI usage.

Last quarter, Alphabet's revenue grew 15% year-over-year in constant currency. If this place of growth continues in 2026 and 2027, it will be because of the Gemini breakthroughs getting embedded across the Alphabet ecosystem of products, and the stock price will likely rally as a result.

Irys, a layer-1 blockchain listed on major exchanges including Coinbase, is under scrutiny after a single entity captured roughly 20% of its airdrop allocation.

On November 28, blockchain analytics firm Bubblemaps said it identified about 900 wallets involved in the process.

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IRYS Slides After 900 Linked Wallets Take $4 Million in Airdrop TokensAccording to the firm, these addresses showed no prior on-chain activity. It described the pattern as consistent with coordinated preparation rather than organic network participation.

Following the distribution, the cluster network began consolidating the assets.

Data shows that roughly 500 of the identified wallets transferred their IRYS allocations to intermediary addresses before routing the funds to Bitget, a centralized exchange.

IRYS Token Address Clusters. Source: BubbleMapsThe flow of tokens, valued at approximately $4 million, indicates a likely preparation to liquidate the position. Such a move could introduce significant sell-side pressure on the asset’s order book.

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IRYS price has come under pressure following the disclosures. The token has declined 16% over the past 24 hours and is trading near $0.032 as of press time.

Bubblemaps noted that it found no on-chain evidence linking the IRYS team to the wallet cluster.

Irys markets itself as an “on-chain AWS” designed for data storage and smart-contract execution.

The protocol has raised more than $13 million from venture capital investors and listed its token this week on major exchanges, including Binance and Coinbase.

Airdrop Farmers are very bad for this space.

> Someone claimed 20% of the IRYS airdrop

> 60% of aPriori airdrop was claimed by one entity via 14,000 addresses

> One entity claimed $170M from the MYX airdrop with 100 freshly funded wallets

> One entity claimed $4M from the… pic.twitter.com/WvN5D7qlU6

— Crypto with Khan ( SFZ ) (@Cryptowithkhan) November 29, 2025
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Crypto Needs Stronger Sybil ProtectionThe episode highlights a structural challenge facing crypto projects that rely on airdrops to expand ownership.

Indeed, Irys allocated 8% of its total supply to the event. The goal was to distribute tokens to early users and help decentralize the network.

Instead, the concentration of tokens in a single cluster shows how airdrops remain vulnerable to actors using large batches of script-generated wallets to capture outsized allocations.

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When one entity controls 20% of the initial circulating float, market observers say the result is heightened centralization risk and distorted price discovery.

IRYS Airdrop Exploit: One Wallet Takes 20% (~$4 million) 🧵

> $IRYS finished its airdrop on Nov 26, 2025.

> Total drop: 400M tokens (20% of supply).

> 1,273 wallets claimed 183M IRYS.

> But one entity got 20% of the whole drop.

> They used 897 wallets.

> All funded the same… pic.twitter.com/HvYQs9UpV3

— Param (@Param_eth) November 28, 2025
Meanwhile, incidents like this point to broader limitations in token distribution practices across permissionless ecosystems. These environments have minimal identity checks and unrestricted network access.

This IRYS episode shows how difficult it is to prevent coordinated airdrop capture without stronger filtering, better identity heuristics, or more robust pre-distribution reviews.

Without those safeguards, early liquidity events can disproportionately benefit short-term actors. That dynamic can weaken outcomes for long-term holders and overall network stability.

XRP’s price outlook is back in the spotlight after a fresh wave of whale activity sent more than $372 million worth of tokens across exchanges.

At a time when the asset is attempting to hold the $2 support, the transfers are raising questions about whether XRP is gearing up for a new leg higher or bracing for a pullback.

The movements, all flagged within a three-hour window on November 29, show a mix of inflows and outflows that together create a slightly bullish tilt in near-term market structure.

The largest transfer involved 103,885,151 XRP worth about $229.19 million moving out of Bitget and into an unknown wallet, a shift that typically signals reduced sell pressure. 

This was followed by 34,998,900 XRP valued at $77.12 million moving from an unknown wallet to Bitget, suggesting possible near-term selling. A third transfer of 30,000,000 XRP worth $66.11 million also moved to Bitget, adding to potential sell-side liquidity.

XRP whale transaction. Source: Finbold
In total, the three transactions moved $372.43 million in XRP, but the net flow shows more tokens leaving Bitget than entering. With 103.9 million XRP withdrawn and around 65 million sent in, Bitget saw a net outflow of 38.8 million XRP, a pattern that historically leans slightly bullish by reducing immediate tradable supply.

XRP price prediction 
To determine how the asset might be impacted, Finbold turned to OpenAI’s ChatGPT platform, which noted that XRP could see a mild upward adjustment in the short term if broader market conditions remain stable.

The analysis suggested the asset may drift toward the $2.26 to $2.34 range over the next several days as reduced sell pressure supports a slight recovery.

Over the coming weeks, the model sees potential for XRP to retest higher levels around $2.60 to $2.90, assuming continued accumulation and steady market sentiment.

Still, the prediction also noted that downside risks remain if the XRP entering Bitget is ultimately sold into the market. In such a scenario, the price could revisit levels between $2.05 and $1.95.

XRP price analysis
By press time, XRP was trading at $2.21 after gaining 1.5% in the past 24 hours, while on the weekly timeline, the asset has climbed almost 15%.

XRP seven-day price chart. Source: Finbold
At the current price, XRP sits just below its 50-day SMA at $2.37 and its 200-day SMA at $2.65, reinforcing a bearish short- to medium-term trend as the price struggles against these overhead resistances.

On the other hand, the 14-day RSI at 46.0 indicates neutral conditions with no strong momentum for an imminent bounce, pointing to sustained downside pressure unless XRP breaks above the 50-day level to signal a shift.

Featured image from Shutterstock

Crypto whales have started making clear moves as December approaches, and their activity reveals where big money expects the next phase of strength to come from. Instead of selling into the late-November volatility, large holders have been increasing exposure across a mix of mid-caps and large-caps.

The buying has also appeared while prices were stabilising, which makes the accumulation more meaningful. These patterns give an early look at which assets whales believe can deliver gains in December.

Ethena (ENA)Ethena (ENA) stands out as one of the clearest signals of what crypto whales are buying for potential gains in December. The token is up 21.3% over the past seven days, and instead of using that strength to take profit, large holders are adding more.

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Whale wallets have increased their ENA holdings by 2.84% this week, bringing their total to about 39.88 million ENA. That means whales picked up roughly 1.1 million additional tokens.

Top 100 addresses or mega whales also raised their balances by about 0.35%, adding close to 50 million ENA. Whales buying into an already strong week usually signals confidence that more upside is ahead.

ENA Whales: NansenWant more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

On the 12-hour chart, Ethena still trades within a symmetrical triangle, indicating a buyer-seller standoff. The important level is $0.28. A clean daily close above this level — which has rejected every rally attempt since November 25 — can unlock moves toward $0.30 and even $0.32.

ENA Price Analysis: TradingViewIf ENA fails to hold $0.27, it risks slipping under the lower triangle boundary, opening a path back toward $0.21, especially if whale demand cools.

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XRP (XRP)XRP is the second asset crypto whales are buying, possibly for potential gains in December. The accumulation pattern here is much stronger than what we saw in Ethena. Two major whale cohorts have been adding aggressively through the final week of November.

The largest holders — wallets with over 1 billion XRP — have added about 150 million XRP since November 25. At the current price, this equals roughly $330 million in fresh exposure.

The 10–100 million cohort has been even more aggressive, adding around 970 million XRP since November 23, worth nearly $2.13 billion at current prices.

XRP Whales: SantimentWith XRP trading near $2.20, this fresh whale exposure entered the market during a week when the token gained more than 16%, which reinforces that these buyers are adding to strength rather than weakness.

This uptick comes at a technical turning point. XRP has spent nearly two months defending the $1.77 support, a level tested twice — on October 10 and again in late November — forming an early double-bottom structure. That base is now the foundation for any December strength.

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For upside continuation, the XRP price must break $2.30, a resistance that has rejected every rally attempt since November 15. A daily close above that zone unlocks $2.45 and $2.61, where the next clusters of supply sit.

XRP Price Analysis: TradingViewIf XRP falls below $2.11, the bullish structure will break down. A deeper retest of $1.81 becomes likely — but this would only happen if whale accumulation flips back to distribution.

Cardano (ADA)Cardano stays on the list because it seems that crypto whales have started rotating into large caps again, after XRP. Two key ADA cohorts have been buying during the final stretch of November.

The largest holders, wallets with over 1 billion ADA, began adding on November 24. Since then, they have accumulated 130 million ADA in total. The 10–100 million group started buying on November 26 and has added 150 million ADA. Both cohorts turned net positive within days, which shows fresh conviction even as the token trades near its recent lows.

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Cardano Whales: SantimentWith ADA trading near $0.41, this combined whale accumulation represents a meaningful amount of capital returning to the market. The buying also came during the same period when ADA posted a mild recovery, 5% week-on-week, which makes the pickup more notable.

On the 12-hour chart, ADA shows a standard bullish divergence. Between November 4 and November 21, the price reached a lower low, while the RSI (Relative Strength Index), which measures momentum, reached a higher low.

This type of divergence often signals that a trend reversal is forming beneath the surface. Early signs of that shift have already appeared.

ADA Price Analysis: TradingViewFor ADA to build strength in December, it needs a solid candle close above $0.43. A break above that level opens a path toward $0.52, which would flip the short-term structure bullish. If ADA loses $0.38, the bullish setup weakens, and the reversal signal may fail.

Spot Solana ETFs, which broke a 21-day inflow streak on Wednesday, recovered from their stumble with modest inflows on Friday as well.

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The Ethereum price begins to recover as ETH price lifts from recent lows and builds a more stable short-term structure. Buyers step in after the market confirms support near the lower range and prints steadier candles across key levels. 

Meanwhile, overall conditions improve as Ethereum pushes away from downward pressure and prepares for a possible shift. These changes create a clearer setup for the coming weeks. With the structure tightening, focus now turns to how high Ethereum can climb before year-end.

Ethereum Price Chart Shows A Path Toward $4,200
The Ethereum price starts to show meaningful improvement after weeks of consistent pressure within a long regression trend. Meanwhile, the Ethereum value trades at $2,986, which helps buyers maintain control as they challenge the upper boundary of the channel. The chart builds higher lows near $2,772, which signals an early structural change. 

Notably, this shift helps the market break rhythm and form a base strong enough for a larger move. The next important zone sits at $3,058, because earlier attempts failed there several times.

Besides, a clean reclaim increases confidence and opens the way toward $3,618, which shaped several significant reactions before the drop. Once Ethereum handles that region, the $4,200 target becomes realistic because the recovery structure aligns with the projected breakout leg. 

Notably, the bullish MACD crossover strengthens this setup because the indicator now lifts sharply from its lower zone. That shift adds confidence since MACD often reacts early when momentum changes. This entire setup also improves Ethereum long-term price performance. With firmer support, ETH price holds genuine potential to reach $4,200 before year-end.

ETH/USD 1-Day Chart (Source: TradingView)
Upgrade Outlook Supports Year-End Rally
A market expert examines how Ethereum reacted during the May 2025 Pectra upgrade cycle, which sparked a sharp 55% climb in 35 days and a powerful 168% expansion in 109 days. 

The analyst uses those figures to frame his expectations because they highlight how Ethereum behaves when strong structural shifts appear on the chart. Meanwhile, the current setup already shows improving strength as ETH price pushes through early resistance levels.

The discussion then shifts toward the upcoming FUSAKA upgrade, which lands on December 3 and fits neatly into his projection model. He outlines a $4,500 target thirty-five days after the upgrade window, which aligns closely with the $4,200 chart target expected before year-end.

The expert also presents a second projection at $7,800, although that sits beyond this year’s timeline. With structure improving and expectations rising, his outlook supports the idea of Ethereum finishing the year near the $4,200 level.

ETH/USDT 1-Day Chart (Source: X)
Falling Reserves Improve Ethereum Conditions
A 2.11% decline in exchange reserves adds another supportive factor for the current Ethereum setup. Lower reserves usually show reduced selling interest since fewer coins remain available on exchanges. 

Meanwhile, Ethereum price often reacts better when supply shrinks near major zones. The chart reflects this pattern because structure improves as reserves move downward. Specifically, thinning supply supports stronger reactions when ETH price tests resistance areas like $3,058 and $3,618. 

The market still needs to clear those points, but reduced reserves offer stability as the year winds down. This environment strengthens the overall outlook for a push toward $4,200.

Ethereum Exchange Reserve USD Chart (Source: CryptoQuant)
To conclude, Ethereum now approaches a period where improving structure and helpful supply conditions meet. The chart displays a clear path toward the $4,200 target before year-end. 

The upgrade outlook strengthens the broader narrative and supports the developing setup. If buyers defend nearby levels, ETH price can close the year with a strong and convincing finish.

TLDR:

Monad launches with 10B supply and tiny float, prompting high retail risk on listing.
$3B FDV positions Monad for potential early sell-offs by insiders and VCs.
Project lacks unique features, limiting chances against Ethereum and Solana networks.
BitMEX co-founder holds 1% allocation but maintains 99% bearish stance.

BitMEX co-founder Arthur Hayes has publicly criticized the emerging crypto project Monad. Hayes described Monad as a high fully diluted valuation (FDV), low-float token aimed at benefiting founders and venture capitalists. 

He highlighted the project’s limited user base and absence of unique features, calling it a parallel EVM chain with little competitive advantage. Despite a small personal allocation, Hayes expressed a predominantly bearish stance on the token’s prospects.

Monad Tokenomics and Market Structure Raise Concerns
Hayes pointed to Monad’s 10 billion token supply and small initial float as a major risk. 

He emphasized that a $3 billion FDV sets the stage for early investor sell-offs once the token lists. Retail investors may face significant losses if insiders liquidate holdings rapidly. Data from blockchain trackers confirms Monad’s low float distribution at launch.

The token is positioned as a potential Ethereum alternative, but Hayes noted it lacks user adoption or developer engagement. Existing networks like Ethereum and Solana already dominate the smart contract landscape. 

According to Hayes, Monad’s value largely exists on paper for venture capital exits. Market sources suggest this could create extreme short-term volatility upon launch.

Early insider activity is likely to influence price movements heavily. Historical patterns of similar high-FDV launches indicate initial pumps followed by sharp declines. 

Hayes cited previous experience with such projects to justify caution. Exchanges listing new tokens often see heightened trading volume tied to speculative activity.

Community sentiment may also be affected by aggressive marketing campaigns. Social media channels show heightened attention despite minimal technical differentiation. 

Analysts note that such hype often results in retail FOMO ahead of significant corrections. Tokens with small floats typically exhibit the largest price swings.

On Altcoin Daily, BitMEX co-founder Arthur Hayes criticized Monad, calling the supposed "next ETH killer" a high fully diluted valuation, low float setup designed for founders and VCs to dump on retail. Hayes said Monad has no chance against Ethereum—"not even Solana." He added…

— Wu Blockchain (@WuBlockchain) November 29, 2025

Competitive Challenges Against Established Blockchains
Monad aims to operate as a parallel Ethereum Virtual Machine (EVM) chain. 

Hayes argued it faces steep competition from established blockchains with robust ecosystems. 

Solana, Ethereum, and other networks already maintain large developer communities and active users. Blockchain analytics highlight that new chains often struggle to replicate these network effects.

The lack of distinctive technical innovation reduces Monad’s potential adoption. 

Hayes remarked that the project offers no compelling feature to attract developers or users away from established chains. Pre-launch reports show limited developer activity, aligning with these concerns. Market participants should weigh these factors before committing significant capital.

Investors may still seek small allocations as a speculative hedge. 

Hayes disclosed a 1% personal portfolio allocation to capture potential upside, while remaining 99% bearish. This mirrors a cautious strategy often employed in high-risk token launches. 

Monitoring post-listing trading patterns will provide further clarity on investor behavior.

Blockchain forums indicate mixed reactions from early adopters. Some expect short-term gains, while others highlight systemic risks. Tokenomics, float, and FDV remain central discussion points across communities.

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

Cardano’s core ecosystem organizations have submitted a new proposal requesting 70 million ADA from the Treasury to fund a coordinated set of infrastructure upgrades. The proposal, which was made by the founding entities, the Midnight Foundation, and Intersect, targets important components that Cardano still lacks, and its approval could shape how the network grows heading into 2026. 

Why Cardano Is Making This Move Now
Despite Cardano’s reputation as a well-established Layer-1 blockchain, its ecosystem still lacks several must-have infrastructure pieces that underpin vibrant decentralized finance (DeFi), real-world asset (RWA) tokenization and institutional participation. However, the situation might improve soon with a collaborative effort, as revealed in the Cardano’s Critical Integrations Budget proposal for 2026.

The Critical Integrations Budget proposal brings together Input Output, Emurgo, the Cardano Foundation, Intersect, and the Midnight Foundation under a single plan. The coalition asserts that despite Cardano’s strong foundations, several essential ecosystem layers are either incomplete or absent. 

These include tier-one stablecoin infrastructure, institutional-grade custody solutions, cross-chain bridges, deeper analytics capabilities, and globally recognized oracles. These components are necessary for Cardano to support stable liquidity, attract DeFi builders, enable RWA tokenization, and allow institutions to participate securely. 

The proposal frames 2026 as the year Cardano should enter a more mature phase, and these upgrades form the groundwork for that transition. As such, the coalition is asking for 70 million ADA for its 2026 budget. Interestingly, Cardano founder Charles Hoskinson also noted the proposal in a post shared on the social media platform X.

Negotiations with major integration partners are already in place. The discussions have matured enough that the coalition believes it is time for the community to finance the final steps needed to onboard them. 

ADAUSD currently trading at $0.41. Chart: TradingView
What This Means For ADA Holders
According to the announcement, the budget request is designed to guarantee that these integrations arrive in a coordinated, timely manner instead of being scattered across years. 

Stablecoin infrastructure and cross-chain connectivity have long been cited as the missing ingredients holding back liquidity and activity on Cardano. If these integrations go live, liquidity pathways widen, capital can move more easily onto the network, and developers gain the confidence to deploy advanced DeFi, RWA, and DePIN applications.

The Cardano Treasury is one of the healthiest community treasuries in the crypto industry. Public records indicate that the treasury currently holds about 1.7 billion ADA. This figure continues to grow through transaction fee allocations and a percentage of the ADA rewards distributed through the protocol’s inflation mechanism that are not allocated to staking pools.  

In that context, the 70 million ADA request is a limited fraction of available reserves. Voting for the proposal is expected to expire on December 30. Voting is carried out by Delegated Representatives (DReps) and final approval will be done by the network’s Constitutional Committee.

Featured image from Unsplash, chart from TradingView

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TLDR:

XRP trades at $2.20 as traders monitor major technical markers that may guide its next market direction.
Analysts note a close above $2.60 boosts structure, while $3.40 marks a major trend shift in XRP’s setup.
A close below the 21-month EMA risks weakening long-term structure, keeping XRP in a narrow decision zone.
The new XRP ETF launches as institutional inflows rise, adding attention during a critical monthly phase.

XRP is showing a narrow 24-hour decline while holding a strong gain over the past week. 

The market now approaches a crucial monthly close that could define the next major direction for the asset.

Traders are closely watching key technical levels that may determine whether the current structure strengthens or weakens. With liquidity rising and new institutional interest emerging, XRP enters a period marked by both opportunity and risk.

Critical Levels Shape XRP’s Macro Setup
XRP’s current structure sits on a major technical threshold as analysts observe monthly price behavior. Market Analyst EGRAG Crypto described the chart as straightforward, with specific levels acting as decisive markers for broader trend direction. 

According to his post, a close above $2.60 places the asset above the Fib 0.5, suggesting that broader strength may begin forming, even though the macro outlook would not yet be settled.

#XRP – Simple Chart. Simple Rules.

• Close above $2.60 → Above Fib 0.5 = Bullish, but still not fully out of the woods.

• Close above $3.40 → Above Fib 0.888 = Super Bullish — and yes, we are so back.

And on the flip side…

• Close below the 21 EMA → We are f*cked, no… pic.twitter.com/oQwzQCdSfw

— EGRAG CRYPTO (@egragcrypto) November 29, 2025

He further noted that the level at $3.40 remains the key line that shifts the entire trend. A monthly close above the Fib 0.888 represents a structural breakout where price momentum may accelerate after a long consolidation period. 

This scenario would indicate that XRP has regained full upward traction following years of suppressed activity.

On the lower end, EGRAG Crypto warned that the 21-month EMA remains the last support level preventing broader breakdown. He explained that a close beneath it would damage the long-term pattern, resetting projections and weakening momentum. 

XRP currently trades slightly above this support, leaving the market in a narrow band of uncertainty.

Institutional Activity Adds Pressure Ahead of Monthly Close
XRP also enters the upcoming session with increased institutional attention. 

The 21Shares XRP ETF begins trading on  Monday, adding another regulated product tied to the asset. This development arrives shortly after institutional inflows reached $666 million, creating additional interest around the token’s performance.

The ETF launch aligns with a period where traders assess whether new liquidity supports the ongoing recovery. 

Although the price shows a minor decline in the past 24 hours, the broader weekly move reflects continued market engagement. The $3.24 billion trading volume as of writing reinforces steady participation during a tense phase for the asset.

Even with new institutional activity, XRP remains confined between the 21-month EMA and the Fib 0.5 and 0.888 levels. 

This creates a narrow zone where market sentiment may shift quickly depending on the upcoming monthly close. As it stands, XRP trades in a position where both upward continuation and downside pressure remain possible.

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.

The market is mainly red on the first day of the weekend, according to CoinMarketCap.

Top coins by CoinMarketCapZEC/USDThe rate of Zcash (ZEC) has fallen by 3.60% over the last 24 hours.

Image by TradingViewOn the hourly chart, the price of ZEC is going down after a false breakout of the local resistance of $472.59. If bears' pressure continues, one can expect an ongoing drop to the $438 support.

Image by TradingViewOn the bigger time frame, the picture is more bearish than bullish as the rate remains near the support level.

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If buyers cannot seize the initiative, there is a high chance of a more profound decline to the $400 area.

Image by TradingViewFrom the midterm point of view, the situation is similar. If a breakout of the $440 level happens, the accumulated energy might be enough for a move to the $350-$400 range.

ZEC is trading at $456.60 at press time.

TLDR:

HYPE sees new supply enter circulation as the first team unlock moves tokens to 29 wallets.
Fresh distributions include OTC transfers and restaking activity that shape short-term market flows.
Another 9.92M HYPE unlock arrives on December 29, matching the size of the first release.
HYPE trades near $35 as traders balance rising supply with strong 24-hour liquidity.

HYPE traders are watching fresh on-chain activity after the first major team unlock moved into circulation. Market sentiment turned cautious as newly released tokens reached several wallets and some holders shifted funds to an OTC desk. 

The price of Hyperliquid (HYPE) traded near the mid-$30 range during the distribution, according to data from CoinGecko. Expectations around the next unlock have added pressure as the market absorbs the latest supply changes.

HYPE Team Unlocks Hit the Market
The process began when the team unstacked 2.6 million HYPE on November 22, which became claimable on November 29. 

Hyperliquid News reported that 1,745,746 HYPE moved to 29 new wallets during the initial distribution. Ten of these wallets sent 609,100 HYPE to Flowdesk, suggesting possible OTC activity. Four wallets restaked 234,600 HYPE, while fifteen wallets kept their 902,000 HYPE untouched.

The team's unlocks have begun, so let's take stock of everything that has happened.

To begin with, the team had unstacked 2.6 million $HYPE on November 22, and since there are seven days of unstacking, this corresponds to the receipt of $HYPE on November 29.

They started by… pic.twitter.com/VDTdWjKSml

— Hyperliquid News (@HyperliquidNews) November 29, 2025

The team wallet also restaked 854,254 HYPE, based on the same source. These early movements offered the first clear view of how team-controlled supply will behave as scheduled releases continue. 

Market participants followed the distribution closely while tracking price action. The token traded at $34.86 with strong 24-hour volume above $349 million, according to CoinGecko.

This early unlock arrived days after a steep move from the recent peak. Crypto Patel noted that HYPE dropped from the $48–$50 area to $29 during the broader correction. 

His post also pointed out that price action aligned with a planned short setup. The pullback formed the backdrop for the latest distribution hitting the market.

Market Watches December Unlock as Pressure Builds
The first unlock represented 9.92 million HYPE entering circulation, which Crypto Patel described as 2.66 percent of supply. He noted that the next unlock scheduled for December 29 mirrors the same 9.92 million amount. 

Combined with monthly releases through October 2027, the market expects consistent supply additions. These figures shaped discussions about ongoing sell pressure as new tokens become available.

HYPE’s weekly performance showed a 7.20 percent gain despite the recent decline. 

The market balanced strong trading volume with concerns about repeated unlocks. Traders monitored wallet flows after the distribution and looked for signs of further OTC activity. 

With fresh tokens circulating, sentiment remained centered on how upcoming releases could influence liquidity.

The latest on-chain movements provided a clear view of how team holdings transition into the market. Distribution patterns, restaking decisions, and OTC transfers shaped short-term positioning. The next unlock now anchors attention as traders evaluate supply trends. 

Price action around the mid-$30 range reflected the market’s ongoing reaction to these developments.

As the year 2025 rounds off, the Shiba Inu community is zeroing in on potential key developments for the SHIB project.

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

The price performance of Bitcoin in the final quarter of 2025 has been a major source of worry for the crypto crowd — and rightly so. At some point in the past few weeks, the premier cryptocurrency looked set to end the year deep in the red zone.

Over the past week, the Bitcoin price has shown signs of a healthy recovery, having reclaimed the significant $90,000 support level. According to a crypto expert, the market leader may be performing better than the charts currently indicate.

What Has BTC Priced In Already?
In a November 28 post on the social media platform X, Bitwise’s European Head of Research, Andre Dragosch, provided an answer to the “what is priced in already?” question being constantly faced by Bitcoin investors. 

According to the macro analyst, the flagship cryptocurrency is pricing in the most bearish global growth outlook since 2022 (marked by Federal Reserve tightening and FTX’s collapse) and 2020 (during the depths of the Covid-19 pandemic).

Dragosch revealed that he was able to determine the level of global growth expectations Bitcoin is already pricing in by employing a set of leading macro surveys. “Bitcoin is essentially pricing in a recessionary growth environment,” the Bitwise researcher wrote.

Dragosch added:

Personally, I tend to be a macro contrarian because Bitcoin can both under- and overshoot the prevailing macro outlook. Pricing of any asset is essentially macro sentiment. This is also where most of the alpha is made, in my view.

As earlier mentioned, the last time macro expectations were this pessimistic was in 2020 and 2022 — with Bitcoin undershooting the macro outlook before making a strong comeback. Dragosch believes that a reenactment of this scenario is currently at play.

Source: @Andre_Dragosch on X
The Bitwise European Head of Research then noted that “global growth expectations will accelerate from here, based on the amount of preceding monetary stimulus, which points to a reacceleration well into 2026.” 

Dragosch mentioned that the last time there was this asymmetric risk-reward was during the pandemic, where the Bitcoin price had surged 6x by year’s end after initially crumbling under the March 2020 shock. This macro setup can be likened to a “coiled spring or a ball under water.’

According to the macro analyst, Bitcoin’s current trajectory seems to be taking the form of a “coiled spring”—meaning its price could be readying for a violent move after a period of compression. Dragosch then concluded his analysis, saying that investors are not even remotely bullish enough.

Bitcoin Price At A Glance
As of this writing, the price of BTC stands at around $90,880, reflecting no significant movement in the past 24 hours.

The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Featured image from iStock, chart from TradingView

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Opeyemi Sule is a passionate crypto enthusiast, a proficient content writer, and a journalist at Bitcoinist. Opeyemi creates unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi enjoys reading poetry, chatting about politics, and listening to music, in addition to his strong interest in cryptocurrency.

In a significant financial development, Solana has seen an influx of $1.3 billion as investors return to the cryptocurrency, marking a potential turning point for the digital asset. This surge in investment, observed towards the end of November 2025, suggests renewed confidence in Solana's capabilities and future prospects.

A brutal leverage wipeout pushed Bitcoin into a “value zone,” with capitulating traders and mid-sized whales quietly buying the dip.

Bitcoin (BTC) is showing tentative signs of stabilization after a turbulent month, with a massive $8 billion evaporation from futures markets signaling a painful but necessary cleansing of excessive speculation.

This dramatic leverage reset, combined with steady accumulation by larger investors, suggests the foundation for a potential recovery is being laid, even as prices tread well below recent peaks.

Bitcoin Price Mounts Necessary Market Reset
Over the past month, the cryptocurrency derivatives landscape underwent a significant transformation. Data from CryptoQuant indicates the total open interest in Bitcoin futures contracts dropped from approximately $37 billion to around $29 billion.

According to XWIN Research Japan, this sharp decline points to a widespread liquidation of leveraged positions, effectively forcing out over-optimistic traders and reducing systemic risk within the market.

The flush-out was accompanied by a notable shift in investor behavior. XWIN’s analytics revealed that mid-sized investors have been consistently adding to their holdings in the 10 to 1,000 BTC range. At the same time, short-term holders have been realizing substantial losses, exceeding $900 million daily, a classic indicator of market capitulation.

This period of stress has pushed key market value metrics into what the analysts termed a “value zone.” The MVRV ratio, which compares Bitcoin’s market cap to its realized cap, has fallen to 1.54, a level that has frequently coincided with price rebounds in the past.

The overall mood remains deeply pessimistic, with the Fear & Greed Index recently hitting a nine-month low. However, this negative sentiment appears at potential turning points, as shared by Ted Pillows, who noted that “capitulation precedes relief” and that seller exhaustion can create conditions for a bullish recovery.

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Bitcoin Maps Path to Recovery, Price Range Back to $91,000
At the time of writing, Bitcoin’s price showed a 20% drop over the past month and is currently changing hands near $91,000. In the last 24 hours, the leading market cap crypto managed a 5% gain on a trading range situated between $86,500 and $91,800.

Market observers are closely watching specific price levels for clues on future direction. As noted by Daan Crypto Trades, a significant pocket of liquidity appears to have formed in the $97,000 to $98,000 zone, a region that previously witnessed heavy selling.

Reclaiming the $93,000-$94,000 area is seen by some as the step before the path towards a psychologically important $100,000 mark.

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TLDR:

Proposed MSCI rule could remove Bitcoin-heavy companies from indices that guide major passive investment flows.
Strategy Inc. leads the preliminary list with over 649,870 Bitcoin held on its balance sheet.
JPMorgan actions throughout 2025 tightened liquidity and reshaped exposure across Bitcoin-focused firms.
January 15 may determine whether corporations can continue holding large Bitcoin reserves in public markets.

Bitcoin-focused companies are preparing for a pivotal decision that could reshape how public firms manage digital assets. A private index provider will soon determine whether corporations may continue holding large Bitcoin reserves without facing structural penalties. 

The review arrives after months of mounting pressure from major financial institutions and shifting index policies. Markets now track how the January 15 decision may alter corporate treasury strategies.

MSCI Review Targets Bitcoin-Heavy Balance Sheets
MSCI proposes reclassifying firms whose digital assets exceed half their balance sheet as funds rather than operating companies. This shift would remove them from indices that guide trillions in passive investment capital. 

The preliminary list includes 38 firms, according to posts shared by Shanaka Anslem Perera on social media. Strategy Inc. appears at the top with more than 649,870 Bitcoin, followed by miners like Marathon and Riot.

American Bitcoin also features prominently, with twenty percent owned by the sons of the sitting US President DJT. These firms represent a combined $137.3 billion in digital assets across 142 public entities. 

Seventy-six of those companies formed in 2025, indicating rapid institutional adoption. Together these firms control around five percent of all Bitcoin that will ever exist.

The reclassification proposal arrives after a year of escalating actions against Bitcoin-centric companies. 

Posts from Perera outline a sequence beginning in May 2025 when short sellers targeted premiums across the sector. In July, JPMorgan raised margin requirements to ninety-five percent, tightening liquidity for leveraged exposure.

THE GREAT RECLASSIFICATION

On January 15, 2026, a private index provider will determine whether corporations may hold sound money.

This is not about one company. This is about 142 publicly traded entities holding $137.3 billion in digital assets. Seventy-six formed in 2025… pic.twitter.com/U9ZFGRTkkv

— Shanaka Anslem Perera ⚡ (@shanaka86) November 29, 2025

Tightening Financial Conditions Shape Corporate Treasury Models
By September 2025, S&P 500 removed Strategy from eligibility despite it meeting index criteria at the time. JPMorgan later quantified $8.8 billion in forced outflows in November, citing structural pressures in the market. 

The bank introduced leveraged Bitcoin notes in December designed to capture displaced flows from excluded corporations. Perera argues that the same institutions shaping exclusion mechanisms are now offering products to absorb redirected capital.

The January ruling could determine whether corporations may continue using Bitcoin as a long-term treasury reserve. Firms currently treat Bitcoin as scarce digital property, a position that conflicts with the proposed index rules. 

Opponents view the policy as limiting corporate autonomy in favor of traditional financial structures. Supporters frame it as a necessary classification adjustment based on balance-sheet composition.

Perera describes the process as an enclosure rather than regulation, claiming the financial system favors borrowing over holding bearer assets. He argues that corporations may hold depreciating currency but face barriers when holding BTC in size. 

The January 15 review is framed as a referendum on whether companies can operate with sovereign balance sheets. Markets now assess how corporate Bitcoin strategies may evolve once the ruling is finalized.