The cryptocurrency market is experiencing overall increased volatility, with a total market capitalization maintaining around $3.25 trillion. The fear and greed index remains in the "extreme fear" range (20/100). Bitcoin (BTC) briefly rebounded above $91,000, but overall correction pressures continue, with analysts optimistic about a potential rebound in December. Here are today's main highlights:
1. Bitcoin market correction and rebound expectations
The price of BTC fluctuates between $84,000 and $91,000, having dropped about 6% in the past week, marking the worst single-day performance since March. K33 Research analysis indicates that market fear has overshadowed fundamentals, but the probability of a Federal Reserve rate cut in December is as high as 86.2%, which may drive a rebound to key support levels. Coinbase's institutional report points out that BTC ETFs have shifted to net selling, and the supply of stablecoins has sharply decreased, but if liquidity improves, the conditions for a year-end rebound are in place. Meanwhile, ChatGPT predicts that BTC will slightly decline to around $79,000 by the end of the year, but remains bullish in the long term.
2. SEC Chairman boldly predicts: US financial markets will be on-chain within two years
SEC Chairman states that the entire US financial market may migrate to blockchain technology within the next two years, seen as a 'huge' turning point for the crypto industry. Hashdex report emphasizes that the tokenization 'flywheel effect' has started, with the tokenized government bond scale on public blockchains exceeding $8 billion, with a growth rate comparable to early ETF adoption curves. This could accelerate institutional adoption, but regulatory risks must be watched.
3. Ethereum (ETH) stablecoin ETF fund outflows and Vitalik's proposal
ETH price hovers around $3,000, slightly down in the last 24 hours, but the ETF records $75.21 million in net outflows, with no new capital inflows. Vitalik Buterin proposes a 'trustless on-chain Gas futures market' aimed at hedging Gas fee fluctuations, helping users prepay fees and stabilize network congestion. This proposal applies to existing L1/L2 ecosystems and could enhance ETH utility. Additionally, ZKsync plans to phase out the Lite version by 2026, transitioning to ZK Stack upgrades.
4. XRP price plummets amid contradictions with Ripple ETF inflows
XRP price sharply drops below the $2 support level, despite strong inflows into Ripple ETF. The TD Sequential indicator shows early reversal signals, but market sentiment is extremely fearful. Vanguard now offers XRP investment options, marking rising institutional interest, but macro uncertainty drags prices down.
5. BCH leads Layer-1, SOL Foundation calls for unity
Bitcoin Cash (BCH) is expected to be the best-performing Layer-1 chain in 2025, with prices consistently breaking through. The Solana Foundation chair urges Kamino and Jupiter to stop infighting and focus on market share expansion. Activity in the Solana ecosystem is rising, with SOL prices remaining stable.
6. Regulation and Institutional Dynamics
- Swiss and German authorities shut down crypto mixer Cryptomixer.io, European law enforcement actions escalate, Bitcoin wallet interaction protocols are flagged as high risk, potentially raising concerns about seizures.
- French bank BPCE launches crypto trading services covering 2 million retail customers (planned to expand to 12 million), supporting BTC, ETH, SOL, and USDC trading, with a monthly fee of €2.99. Canada strengthens crypto tax enforcement.
- Do Kwon (founder of Terraform Labs) faces a 12-year prison sentence, scheduled for December 11.
- EU MiCA regulations require VASPs to obtain authorization by December 30, 2025, or cease operations.
7. VC Financing and Token Unlocking
- Paribu acquires CoinMENA for $240 million, N3XT secures $72 million in funding.
- This week's unlock focus: APT (1211 unlocks $19.23 million), CHEEL, and LINEA. Investors need to be wary of selling pressure.
- 2025 is seen as the 'Year of Tokenization', with Western Union planning to launch a stablecoin prepaid card aimed at countries with high inflation.
8. Other hotspots
- MOODENG rises over 43% in 24 hours, market cap surpasses $100 million.
- Michael Saylor hints that MicroStrategy may increase BTC holdings, mNAV rises to 1.118.
- US Treasury Secretary Bessent predicts 3% GDP growth this year, favorable for risk assets.
The market is under short-term pressure, but the Federal Reserve meeting (December 11) and employment data may become turning points. It is recommended to watch BTC support levels at $85,000 and ETH Gas fee dynamics.
