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- Ethereum whales sold $52.4M in ETH at $2,994.9, incurring $18.4M losses amid a 28% 30-day price drop. - Market-wide bearishness intensified as Bitcoin fell below $86,000 and ETH hit a four-month low near $2,700. - Technical indicators show all EMAs in downtrend, Bull Score Index at 20 (lowest since 2020), and ETH derivatives open interest dropped to $35.5B. - Top DATs like BitMine face 25-48% paper losses, with mNAV ratios below 1 raising liquidity risks amid $415M 24-hour ETH outflows.
- U.S. Supreme Court's IEEPA ruling could invalidate Trump-era tariffs, forcing White House to adopt narrower legal tools like Sections 232/301 with slower processes and oversight. - Crypto markets face regulatory shifts as White House reviews CARF framework, which would grant IRS access to foreign crypto data but risks stifling decentralized innovation. - Over 65 crypto groups demand exemptions for decentralized developers amid concerns about prosecution risks and unclear DeFi tax rules under proposed reg
- MMT symbol duality (MFS fund & Momentum token) triggered divergent price surges in November 2025, driven by institutional investments and crypto airdrops. - Momentum token's 1,300% gain on Binance relied on exchange listings and margin trading, while MFS fund attracted 84.7% stake increase from 1607 Capital Partners. - MFS fund's 8.7% yield faces sustainability risks as distributions shift to capital gains, contrasting with Momentum token's speculative volatility and $109M short liquidations. - Policy en
- The Fed faces divided views on December rate cuts amid 39.6% odds of a 25-basis-point reduction versus 60.4% no-change probability. - Officials weigh inflation (3% vs 2% target) against resilient labor market (119,000 September jobs), complicating dual mandate balancing. - Bitcoin volatility ($81,629) and equity market jitters reflect uncertainty, with leveraged crypto positions facing margin pressures. - Corporate debt issuance for AI infrastructure and delayed economic reports heighten borrowing cost r
- BlackRock and institutional investors cautiously navigate Bitcoin/stablecoin adoption, balancing innovation with regulatory and volatility risks. - Stablecoins processed $9 trillion in 2025 payments, driven by cross-border efficiency and U.S. Treasury's GENIUS Act regulatory framework. - BlackRock manages Circle's $200B stablecoin reserves while enabling U.S. banks to hold crypto under OCC guidelines for controlled experimentation. - Hybrid financial systems emerge as Deutsche Börse and JPMorgan integrat
- Zerodha Kite's unconfirmed 2025 IPO status raises investor uncertainty amid mixed FY25 financial results showing 22.9% profit decline but strong liquidity reserves. - Brokerage revenue dropped 40% Q2 2025 due to industry-wide slowdown, highlighting Zerodha's vulnerability to macroeconomic shifts and regulatory pressures. - Crypto market volatility (e.g., MSTR's 60% share drop) underscores indirect risks for Zerodha if expanding into crypto trading or facing regulatory scrutiny in this space. - Long-term
- A hobbyist Bitcoin miner using a 6 TH/s setup defied 1-in-180 million odds to earn $265,000 via CKpool's solo mining platform. - The win marked CKpool's 308th solo block since 2014, with the miner's hash rate representing 0.0000007% of Bitcoin's 855 EH/s network. - The achievement highlights Bitcoin's decentralization, as solo miners maintain security despite industrial dominance and bear market conditions. - CKpool's 2% fee model allows solo miners to retain nearly full block rewards, contrasting with t
- BlackRock's IBIT Bitcoin ETF recorded a $523M single-day outflow on Nov 19, marking its fifth consecutive day of redemptions totaling $2.1B this month. - Bitcoin fell below $90,000 (-30% from October peak) as ETF outflows and macroeconomic uncertainty triggered institutional risk mitigation strategies. - Analysts cite profit-taking, Fed policy uncertainty, and weak macro signals as drivers, with Bitcoin ETFs accounting for 70% of $3.79B in U.S. crypto ETF outflows. - While Ethereum and altcoins like Sola
- BitMine's 0x5664 wallet received $59.17M in ETH from FalconX, signaling continued institutional accumulation despite a 35% stock decline. - The OTC purchase highlights FalconX's role in enabling discreet large-scale trades, reducing market impact through off-chain execution. - Ethereum's $15B+ 24-hour volume and USDC's 72% market cap surge reflect growing institutional adoption amid regulatory clarity. - BitMine's ETH buying aligns with pre-Prague hard fork optimism, with analysts noting potential 7% pri
- 09:58Bitcoin market capitalization rebounds to surpass $1.7 trillion, rising to 8th place among global assetsAccording to ChainCatcher, bitcoin's market capitalization has rebounded and surpassed 1.7 trillion USD, currently reported at 1.72 trillion USD. It has overtaken the Vanguard Total Stock Market ETF (1.703 trillion USD), rising to 8th place in the global asset market capitalization rankings.
- 09:43Tom Lee: Shorting MSTR has become the market's preferred hedge against declines, revealing deeper structural issues.BlockBeats News, November 23, BitMine Chairman and CEO Tom Lee stated that a certain exchange has become the preferred tool for crypto investors to manage risk, which partly explains why its stock price has dropped 43% over the past month. "Strategy may be the most important indicator to watch right now, as it is both a bitcoin proxy stock and the most liquid alternative asset," Lee said in an interview with CNBC on Thursday. Due to the limited tools available to directly hedge losses in the crypto market, institutional traders have turned to shorting the stock of a certain exchange. The company holds nearly 650,000 bitcoins, making its stock price closely tied to bitcoin's performance. "In my view, when crypto market participants try to hedge losses in their bitcoin and ethereum positions, they have no other way to hedge except by shorting its liquid alternative stock—and this exchange is the best choice," Lee explained. He added that native hedging tools such as bitcoin and ethereum derivatives lack sufficient liquidity for large funds, "Any investor holding a large-scale long position in bitcoin... has very limited hedging capability in the crypto derivatives market." But this exchange provides a workaround. "Investors can use the highly liquid options chain of this exchange to hedge all crypto asset risks," Lee pointed out. "Essentially, this exchange is absorbing all the hedging pressure generated by the entire crypto industry to protect long positions." Lee also mentioned the lingering impact of the October 10 market crash, which wiped out $20 billions in market value and destroyed the exchange's liquidity. "This completely devastated market makers," he called market makers the "central banks" of the crypto market. Since then, systemic cracks have persisted, and the liquidity of altcoins, mining stocks, and bitcoin proxy assets such as this exchange remains thin. In the current downturn, MSTR is one of the hardest-hit targets. Lee believes this is partly because it has taken on the role of the market's "pressure valve." He pointed out that the underlying structure of the crypto market remains fragile, and the phenomenon of this exchange becoming a hedging tool is revealing deeper structural issues.
- 09:43Benson Sun: Multiple bottoming signals have been observed, and the market has fully priced in the negative expectation of MSTR being removed from the index.BlockBeats News, on November 23, crypto KOL and former FTX community partner Benson Sun posted on social media that his quantitative long positions had been paused since the stop loss at $90,000, and have just now been restarted. He has observed multiple bottoming signals and expects a wide-ranging supply-demand balance zone to form here, which provides enough volatility for quantitative strategies to conduct swing trading. As for MSTR being removed from the index, he believes the market has already fully priced in this expectation—now, this kind of illogical sharp decline is essentially no different from already being removed from the index. He is still holding his long positions with an average entry price of $81,500 and will continue to hold until overall liquidity dries up before exiting.