Finance Police

Prediction market platform Polymarket has made its long-awaited return to the US market with a limited rollout on Wednesday after securing CFTC approval to operate as an exchange.

The platform has started rolling out its US app to waitlisted users and will initially offer sports event contracts before expanding to other markets. 

Polymarket Makes Long-Awaited US Return 

Prediction market platform Polymarket has returned to US shores after securing Commodity Futures Trading Commission (CFTC) approval to operate as an exchange. The platform announced its return in a post on X, stating that waitlisted users can access its US app and browse sports event contracts. The platform is launching with the sports market, with plans to launch other markets at a later date. 

“Against all odds. Polymarket’s U.S app is now being rolled out to those on the waitlist. We’re launching with sports — followed by markets on everything.”

The platform returns nearly four years after authorities banned US-based users from accessing its blockchain-powered prediction markets. Users can join the waitlist by downloading the Polymarket app and entering their phone number. Once they join the waitlist, users will receive an invite code allowing them to access trading markets. 

Securing CFTC Approval 

Following its expulsion from the US market, Polymarket acquired QCEX, a platform already registered with the CFTC. This allowed it to bypass the regulator’s multi-year registration process. It received a no-action letter from the CFTC in September, allowing it to resume US operations. Polymarket then secured an Amended Order of Designation, which allowed it to operate as an intermediated trading platform under the rules for US-based exchanges. The approval meant Polymarket could onboard brokerages and customers directly, allow users to trade via futures commission merchants (FCMs), and provide access to traditional custody, reporting, and market infrastructure. 

Polymarket has also upgraded its infrastructure, introducing enhanced market surveillance, supervision policies, clearing procedures, and Part 16 regulatory reporting. It is also fully compliant with the Commodity Exchange Act and other CFTC regulations. 

Polymarket was banned from the US market in 2022 after authorities deemed it offered unregistered derivatives contracts. Its acquisition of QCEX, a regulated contract market and clearinghouse, paved the way for its return. 

Expansion Of Prediction Markets 

Polymarket offers prediction markets on the NFL, college football, NBA, NHL, college basketball, and soccer, with plans to release markets in finance, economy, politics, and more. The platform returns at a time of growing interest in prediction markets. FanDuel has announced plans to launch a prediction market platform this month, while its competitor, DraftKings, plans to launch its platform in 2026. Currently, Kalshi is the number one prediction market in the US.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

A Brazilian court has sentenced 14 individuals for using shell companies and Bitcoin (BTC) to launder up to 508 million reais ($95 million) in proceeds from drug trafficking.

The defendants used a maze of fake companies and cryptocurrency transactions to hide the origin of the funds.

Brazil Federal Court Sentences 14 To Jail

A federal court in Brazil has sentenced 14 individuals connected to the laundering of 508 million reais ($95 million), ending a years-long investigation into a criminal network spanning multiple states. The laundered funds were linked with international drug trafficking and other violent crimes. The group leaders were sentenced to over 21 years in prison, while their associates received sentences ranging from 8 to 17 years. The court also ordered the defendants to repay the laundered amount. Seized assets, including luxury cars and planes, were forfeited to the government.

Modus Operandi

The investigation, dubbed “Terra Fertil” by the authorities, uncovered a laundering operation using fake companies spread across two states to disguise proceeds from drug trafficking. According to federal prosecutors, the group operated a layered structure, assigning distinct roles to everyone involved. The leadership was responsible for directing the funds, while mid-level operatives masqueraded as frontmen for fake businesses. The operation also maintained an accounting arm dedicated to keeping the operation functioning through financial trickery and forged documents.

The fraudsters placed the illicit funds into the system through small bank deposits. These were layered via false corporate activity and foreign exchange operations, and integrated through the purchase of luxury goods. Prosecutors also highlighted several examples, including aircraft registered under a bikini shop and high-end real estate. Prosecutors highlighted that the fraudsters used the “ólar-cabo” system to move large amounts using cryptocurrency, with local news outlets citing the use of Bitcoin (BTC) and several other tokens. Ólar-cabo is a parallel form of institutional money transfer.

A Significant Victory For Crypto Regulation

The judgment is a major victory for regulators and strengthens the argument for robust Know Your Customer (KYC) and Anti-Money laundering (AML) frameworks at cryptocurrency exchanges. The investigation involved international cooperation and coordination, with funds being tracked across multiple jurisdictions. The investigation also proves how specialized blockchain firms can analyze public ledgers to identify patterns associated with illicit activities.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Wales Tech Week 2025 has drawn to a close, marking one of the most powerful showcases of Welsh innovation, technology, and ambition to date.

This year’s tech summit welcomed over 4,000 delegates from across Wales, the UK and around the world – uniting startups, scaleups, innovators, investors, industry leaders and policymakers under one roof to explore the technologies shaping our future.

Powered by Technology Connected, the event also welcomed senior governmental and diplomatic representatives, including Rebecca Evans MS, Cabinet Secretary for Economy, Energy and Planning; Anna McMorrin MP, Parliamentary Under-Secretary of State for Wales; and His Majesty’s Ambassador to Sweden, Samantha Job CMG MVO.

Their presence underscored both the strategic importance of Wales’s technology sector and its increasing influence globally, particularly in areas such as AI infrastructure, compound semiconductors, cybersecurity and fintech.

Delegates heard from an exceptional roster of speakers, including globally renowned futurist Matthew Griffin, Dr Stella Peace of Innovate UK, Roy Shoshani of Vishay, Rolf Hellinger of Siemens AG Digital Industries, Sinead Greenaway of the BBC, and Nick Gliddon of VodafoneThree – each bringing global insight and fresh perspectives to Wales.

Reflecting on the summit’s success, Welsh Government Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said:

“Wales’s digital and tech sector is dynamic and exciting. Through innovation we are harnessing the opportunities to provide high-quality jobs and growth. We are continuing to build Wales’s reputation for expertise globally.

“Wales Tech Week 2025 has showcased the incredible talent and ambition of our digital leaders and tech businesses and highlighted how digital transformation is helping us build a more inclusive, sustainable and resilient economy.”

This year’s tech summit centred on three core themes – Tech for People, Tech for the Planet and Tech for Performance – shaping a programme designed to inspire, connect and drive innovation across sectors. Wales Tech Week continues to stand apart as the place where international opportunity meets Welsh ingenuity, showcasing the ideas, talent and ambition that position Wales as a rising force in global technology.

The final day welcomed back Talent4Tech, Wales’s ultimate tech careers event, which brought together students, graduates, educators, and career-changers for a full day of panels, career guidance and hands-on tech experiences – strengthening Wales’ future talent pipeline.

Wales Tech Week 2025 concluded with the Wales Technology Awards, the nation’s prestigious celebration of Welsh innovation, honouring the organisations and leaders transforming Wales’s tech ecosystem and showcasing its global ambition.

Returning as Chairman of Wales Tech Week 2025, Aled Miles, CEO of Intellistack and Welsh Government Envoy to the United States, reflected:

“It was a global event, with a major international presence, with guests and speakers all there to understand both what the world can offer Wales but most importantly what Wales can offer the world from a technology perspective. It was an opportunity for you to get connected and be connected.

“Wales Tech Week is more than an event, it’s a movement. It’s where Welsh innovation meets global opportunity. I’m honoured to have served as its chairman and proud that Intellistack was leading the way as headline partner. Together, we showcased the ingenuity, ambition and talent that make Wales a rising force in the global tech ecosystem.”

Avril Lewis MBE, Founder of Wales Tech Week and Managing Director of Technology Connected, added:

“Wales Tech Week 2025 has been a powerful reminder that Wales is not just participating in the global tech economy – we are helping shape it. And with the recent announcements of two AI Growth Zones, in both North and South Wales, the world is seeing what we have always known: that Wales is a nation with the capability and ambition to lead in the technologies that will define the future.

The energy, creativity and passion we’ve witnessed over the three days reflect an ecosystem that is maturing with purpose – one that collaborates instinctively and innovates relentlessly. Wales has the talent, the ingenuity, and the heart to make a global impact, and the past few days have shown exactly what is possible when we come together as one industry, one community, and one nation ready to seize the opportunities ahead.”

For more information on Wales Tech Week and future events, visit http://www.walestechweek.com/.

About Technology Connected

As the leading voice for Wales’s digital technology industry, we strategically connect industries, technologies, and people to accelerate the adoption of digital solutions that drive performance, profitability, and sustainable growth. Through advocacy, collaboration, and promotion, we amplify the voice of Wales’s tech industry, unlocking opportunities to develop a more prosperous, inclusive and digitally-capable Welsh economy. Events and initiatives from Technology Connected include Wales Tech Week, Talent4Tech, the Wales Technology Awards, and the Technology Leadership Council.

For more information https://technologyconnected.net/

Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Finance Police, nor is it intended to be used as legal, tax, investment, or financial advice.

Ripple has secured approval from the Monetary Authority of Singapore to expand its payment activities under the Major Payment Institution license. The license allows the company to expand its footprint across Asia. 

The new permissions allow Ripple to offer token-based settlements and related services to banks, fintechs, and cryptocurrency firms based in Singapore. 

Ripple Expands Financial Services In Singapore 

Ripple has received approval from the Monetary Authority of Singapore (MAS) to expand the scope of its payment activities. The company secured the Major Payment Institution license from the MAS, allowing it to broaden the scope of its regulated cross-border payments business in a key global hub. The new permissions apply to the firm’s Singapore entity, Ripple Markets APAC Pte. Ltd., and provide the company more flexibility to offer token-based settlements (XRP, stablecoin RLUSD) and related payment services to banks, fintechs, and cryptocurrency firms operating in the city-state. 

“Huge news from Singapore. The MAS has approved an expanded scope of payment activities for our Major Payment Institution license – enabling us to deliver end-to-end, fully licensed payment services to our customers in the region.”

More Services 

The expanded license allows Ripple’s Singapore subsidiary to offer end-to-end payment solutions, including off-ramps and token-based transactions. It can also offer services enabling collection, custody, currency conversion, and payouts using its digital payment tokens, including XRP and RLUSD, without requiring the customer to take on direct exposure or build bespoke infrastructure. 

Ripple’s Payments product combines digital asset management with a global payout network, allowing clients to route funds, swap into tokens, and settle transactions through a single integration. 

The Importance Of Singapore To Ripple 

Singapore has established itself as a key player in digital asset regulation in Asia. The MAS’s insistence on greater transparency and risk control has helped attract companies looking for long-term stability. Ripple has repeatedly highlighted Singapore’s clear regulatory framework, which gives digital asset providers a robust, reliable platform to launch and grow their services. The company has described Singapore’s regulatory framework as forward-thinking and emphasized its plan to expand its presence in the country. 

The Asia-Pacific region is Ripple’s fastest-growing region, with the company reporting a 70% increase in on-chain activity year-over-year. Ripple established its Asia-Pacific headquarters in Singapore, with the city-state becoming key to its growth thanks to the regulatory groundwork by the monetary authority. The MAS was one of the first regulatory bodies to introduce a clear licensing framework for digital assets, attracting a host of traditional and crypto companies to the city.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bitcoin (BTC) is struggling to regain momentum after falling to a low of $83,800 on Monday. The flagship cryptocurrency has started December in the red after enduring its worst November since 2018. 

Meanwhile, a crypto analyst has said that RSI and Bollinger Bands data suggest BTC’s bear market bottom is at $55,000. 

Strategy Sets Up Cash Reserve, Discloses Bitcoin (BTC) Purchase 

Michael Saylor’s Strategy has established a $1.44 billion US Dollar reserve to support dividend payments on its preferred stock and interest on outstanding debt. The dollar reserve is funded through proceeds generated by the sale of the company’s Class A common stock under its at-the-market offering program. The company stated in a press release, 

“Strategy’s current intention is to maintain a USD Reserve in an amount sufficient to fund at least twelve months of its dividends, and Strategy intends to strengthen the USD Reserve over time, with the goal of ultimately covering 24 months or more of its dividends.”

The company also announced the purchase of 130 BTC for $11.7 million, taking its total holdings to 650,000 BTC, acquired at a cost of $48.38 billion. According to Strategy, the Dollar reserve will be the primary source of funding dividends to preferred stock holders, along with debt and equity holders. 

“We believe this improves the quality and attractiveness of our preferreds, debt, and common equity.”

Strategy founder and executive chairman Michael Saylor called the reserve the next step in the company’s evolution, stating, 

“Establishing a USD Reserve to complement our BTC Reserve marks the next step in our evolution.”

Tom Lee Revises Call For Bitcoin All-Time High 

BitMine Immersion Technologies chairman Tom Lee has adjusted his Bitcoin (BTC) prediction again as 2025 draws to a close. Lee had initially tipped Bitcoin to hit $250,000 by the end of 2025. However, he walked back his prediction last week, stating that Bitcoin could “maybe” regain its all-time high by the end of the year. Lee adjusted his prediction in a recent interview, stating BTC could reclaim its all-time high in January. Lee stated, 

“I do think Bitcoin can make an all-time high by the end of January. A lot of it’s gonna depend on equities recovering, which we expect it to.”

Meanwhile, Jeff Dorman, chief investment officer of digital asset investment firm Arca, stated there is no real reason why the cryptocurrency market has been in the doldrums. Dorman highlighted bullish fundamentals across the markets in a post on X, stating, 

“Wall Street is seeing all of the same bullish signs that I’m seeing — equity, credit, and gold/silver markets are launching to ATHs every month because the Fed is cutting rates, QT is ending, consumer spending is strong, record earnings, AI demand is still incredibly strong, etc. Meanwhile, all of the ‘supposed reasons’ for crypto selling off are easily debunked, or have reversed — MSTR isn’t selling, Tether isn’t insolvent, DATs aren’t selling, NVDA isn’t blowing up, the Fed isn’t turning hawkish, the tariff wars aren’t restarting, etc.”

Dorman speculated that liquidity issues could be hurting prices and investor sentiment. 

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) registered a sharp drop on Monday, plunging to a low of $83,000 as selling pressure intensified. However, it reclaimed $86,000 and settled at $86,282. The flagship cryptocurrency is up over 1% during the ongoing session, trading around $87,387. 

BTC’s inability to reclaim and close above $90,000 invalidated confirmation of a bullish reversal. Analysts believe spot liquidity and weak order book depth are the key reasons behind BTC’s lacklustre price action. However, there is a dense cost-basis cluster around $84,000. Over 400,000 BTC were acquired at this level, effectively forming an on-chain floor. However, active buying pressure between $84,000 and $90,000 is absent, and many short-term holders remain underwater relative to their average entry of around $104,000, leaving the market in a low-liquidity zone. 

According to CryptoQuant data, the Binance “Bitcoin to Stablecoin Reserve Ratio” has fallen to its lowest level since 2018, implying an unprecedented buildup of stablecoins ready to buy BTC. Historically, such extreme stablecoin-to-BTC ratios often precede major rallies. While spot demand remains weak, the stablecoin ratio indicates buying power on hand, but it is currently sitting idle. 

BTC started the previous weekend in bearish territory, dropping to a low of $80,524 on Friday before rebounding and settling at $85,068. Sellers retained control on Saturday as the price fell 0.45% to $84,684. Despite the overwhelming selling pressure, BTC recovered on Sunday, rising 2.51% to reclaim $85,000 and end the weekend at $86,808. The price continued pushing higher on Monday, rising 1.68% to $88,266. However, selling pressure returned on Tuesday as BTC fell 1.07% to $87,325. Bullish sentiment returned on Wednesday as the price rose nearly 4% to reclaim $90,000 and settle at $90,468.

Source: TradingView

Buyers retained control on Thursday as BTC rose nearly 1% to $91,316. The price reached an intraday high of $93,161 on Friday but lost momentum, settling at $90,902, ultimately dropping 0.45%. Price action remained bearish over the weekend with BTC registering a marginal decline on Saturday before dropping 0.50% on Sunday and settling at $90,369. Selling pressure intensified on Monday with BTC falling to an intraday low of $83,800 before settling at $86,282. BTC has recovered during the ongoing session, up over 1%, trading around $87,328.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bitcoin (BTC) slumped to a low of $85,595 on Monday after a wave of selling and liquidations broke through several intraday support levels. Analysts have attributed the drop to forced liquidations and large stop orders being triggered. 

The flagship cryptocurrency recorded its worst November performance since 2018, ending the month down over 17%. 

BlackRock Calls IBIT’s November Outflows “Completely Normal” 

BlackRock’s spot Bitcoin ETF experienced substantial outflows in November. However, the asset manager is confident in the investment vehicle’s long-term outlook. BlackRock Business Development Director Cristiano Castro stated that the company’s spot Bitcoin ETF had become one of its biggest revenue drivers and called their growth “a big surprise.” The comments come after a difficult month for IBIT, which recorded over $2.3 billion in net outflows across November. The largest withdrawals came on November 18 ($523 million) and November 14 ($463 million). Castro stated at the Blockchain Conference 2025, 

“ETFs are very liquid and powerful instruments. They exist to let people allocate capital and manage cash flow. What we’ve been seeing is perfectly normal; any asset that starts to experience compression usually has this effect, especially in an instrument that is heavily controlled by retail investors.”

According to Castro, demand for IBIT speaks volumes, highlighting that the ETF’s combined US and Brazil listings came very close to $100 billion during the market peak. 

Strategy Could Sell Its Bitcoin (BTC) As A Last Resort 

Strategy CEO Phong Le has said the company will consider selling its Bitcoin only if its stock’s value falls below net asset value (NAV) and it loses access to fresh capital. Le stated that if

Strategy’s multiple to net asset value fell under one and funding options dried up, the company would be justified in selling its Bitcoin to protect the “Bitcoin yield per share.” However, he stressed that such a move would be a last resort and not a policy shift by the company. 

“I would not want to be the company that sells Bitcoin.”

Strategy’s business model depends on raising capital when its shares trade at a premium to net asset value, and using the funds to buy Bitcoin, increasing BTC held per share. According to Le, selling a portion of Bitcoin to meet obligations is acceptable if issuing more liquidity becomes more dilutive. Le’s comments come as Strategy comes under scrutiny for its ever-expanding fixed payments tied to a suite of preferred shares introduced earlier this year. Le put Strategy’s annual obligations between $750 and $800 million, adding that the company plans to fund the payouts through equity raised at a premium to its mNAV. 

“The more we pay the dividends out of all of our instruments every quarter, that’s seasoning the market to realize that even in a bear market, we’re going to pay these dividends. When we do that, they start to price up.”

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) slumped to a low of $85,595 on Monday as December got off to a bearish start. The crypto market closed November with the steepest monthly decline since February, as exchange volumes plunged to $1.59 trillion, while spot Bitcoin ETFs recorded $3.48 billion in net outflows. The retreat accelerated when BTC fell to $85,000, wiping out over $600 million in leveraged positions and extending losses. Trading activity on centralized exchanges has fallen by over 26%, making it the weakest performance since June. 

The market’s latest selloff liquidated $564 million in long positions, with BTC accounting for $188.5 million. According to analysts, growing speculation of a rate cut by the Bank of Japan was the primary reason for the rate cut. BitMEX co-founder Arthur Hayes stated, 

“Bitcoin dumped because BOJ put Dec rate hike in play.”

BTC failed to break above $92,000 over the weekend, instead dropping over 5% in three hours as December got underway. The price stayed between $91,000 and $92,000, consolidating as November drew to a close, before a wave of liquidations triggered a collapse. The Kobeissi Letter noted in a post on X that the drop came without any major catalyst, stating, 

“Crypto’s liquidity issue: As seen countless times this year, Friday night and Sunday night often come with LARGE crypto moves. Just now, we saw Bitcoin fall -$4,000 in a matter of minutes, without ANY news at all. Why? Liquidity is thin.”

The outlet blamed the price crash on a “sudden rush of selling volume,” leading to a domino-effect selloff that was amplified by the leveraged positions being liquidated. 

“This crypto ‘bear market’ is still structural in nature. We do NOT view this as a fundamental decline.”

BTC started the previous weekend in bearish territory, dropping to a low of $80,524 on Friday before rebounding and settling at $85,068. Sellers retained control on Saturday as the price fell 0.45% to $84,684. Despite the overwhelming selling pressure, BTC recovered on Sunday, rising 2.51% to reclaim $85,000 and end the weekend at $86,808. The price continued pushing higher on Monday, rising 1.68% to $88,266. However, selling pressure returned on Tuesday as BTC fell 1.07% to $87,325. Bullish sentiment returned on Wednesday as the price rose nearly 4% to reclaim $90,000 and settle at $90,468.

Source: TradingView

Buyers retained control on Thursday as BTC rose nearly 1% to $91,316. The price reached an intraday high of $93,161 on Friday but lost momentum, settling at $90,902, ultimately dropping 0.45%. Price action remained bearish over the weekend as BTC fell marginally on Saturday before dropping 0.50% on Sunday and settling at $90,369. Selling pressure has intensified on Monday, with BTC down nearly 5% at $86,279.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bitcoin (BTC) has retained the $90,000 support level as its weekly RSI hit oversold levels, indicating a potential recovery towards $100,000. The flagship cryptocurrency is trading around $90,900, marginally up over the past 24 hours. 

Meanwhile, Arthur Hayes has doubled down on his $250,000 price target by the end of the year, calling the drop to $80,000 the market bottom.

Tom Lee Makes Latest Bitcoin (BTC) Prediction 

Cryptocurrency analysts and top industry figures remain bullish on Bitcoin (BTC) despite the recent market downturn. Fundstrat’s Tom Lee believes the flagship cryptocurrency will ultimately surge past $100,000 by the end of the year. Lee added that Bitcoin will also set a new all-time high in 2026, possibly hitting $200,000 as growing institutional demand and further interest rate cuts drive positive investor sentiment. 

Lee has become a prominent voice in the cryptocurrency industry through BitMine Immersion Technologies. BitMine has become the largest holder of ETH, with the company’s holdings currently worth $11 billion. Bitcoin’s recovery will have a significant impact on Strategy, boosting the value of its holdings. Strategy holds 649,870 BTC worth 59.9 billion. A jump to $100,000 will take Strategy’s holdings to over $64 billion, boosting investor confidence. 

Hayes Doubles Down On $250,000 

BitMEX co-founder Arthur Hayes has doubled down on his Bitcoin to $250,000 prediction, calling the recent dip to $80,000 a market bottom. Hayes stated that dollar liquidity had bottomed and will now support higher prices for risk assets. He went on to explain that BTC’s drop from $125,000 to $80,000 was due to ETF flows reversing and the US Treasury refilling its checking account. The US Treasury raised nearly $1 trillion from July to November by extracting liquidity from the market. 

Hayes argued against the narrative that Bitcoin ETF inflows signalled genuine institutional buying. According to Bloomberg data, Brevin Howard, Goldman Sachs, Millennium, Jane Street, and Avenir are the top holders of BlackRock’s IBIT ETF. 

“These entities are not places where they’re just going to go long Bitcoin. The funds were executing basis trades, buying the IBIT ETF while selling CME futures contracts against it.”

Hayes explained that when the funding rate collapsed on October 10, traders unwound their positions by selling ETFs and buying back futures. 

“Retail thinks, oh no, institutions love Bitcoin in the summer, and now they hate it in the fall.”

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) maintained its position above $90,000 despite registering marginal declines on Friday and Saturday. The flagship cryptocurrency is up 0.40% during the ongoing session, trading around $91,179. 

Bitcoin is attempting to stabilize after a three-week decline, with prices bouncing back above $90,000. The weekly price chart is producing candles with long lower wicks, a sign that selling pressure is easing. An analyst stated on X, 

“Bitcoin is holding the $91K support as weekly RSI hits oversold. A close above $98K could reopen the path toward $103K and $108K. Trendline from 2023 still intact.”

However, BTC remains under the 20-week EMA, a threshold that dictates the difference between a short-term recovery and a confirmed trend reversal. 

BTC started the previous weekend in bearish territory, dropping over 5% and settling at $94,503. It recovered on Saturday, rising 1.10% to $95,544, but was back in the red on Sunday, dropping 1.42% to $94,183. Sellers retained control on Monday, BTC fell 2.21% to $92,100. The flagship cryptocurrency fell to an intraday low of $89,183 on Tuesday. However, it recovered from this level to reclaim $92,000 and settle at $92,914, ultimately rising 0.88%. Selling pressure returned on Wednesday, with BTC falling to a low of $88,483 before settling at $91,461.

Source: TradingView

Selling pressure intensified on Thursday as BTC fell over 5%, slipping below $90,000 and settling at $86,536. Bearish sentiment persisted on Friday as BTC plunged to an intraday low of $80,524 before rebounding to reclaim $85,000 and settle at $85,068. Price action was mixed over the weekend, with BTC falling 0.45% on Saturday before rising 2.51% on Sunday and settling at $86,808. Buyers retained control on Monday as BTC started the week in positive territory, rising 1.68% to $88,266. Selling pressure returned on Tuesday as the price fell 1.07% to $87,325. BTC recovered on Wednesday, rising nearly 4% to reclaim $90,000 and settle at 90,468. Buyers retained control on Thursday as the price rose 0.94% to cross $91,000 and settle at $91,316. BTC was back in the red on Friday, dropping 0.45% to $90,902. Selling pressure persisted on Saturday as the price fell marginally. BTC is up 0.40% during the ongoing session, trading around 91,196.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bitcoin (BTC) registered a marginal decline on Friday despite reaching an intraday high of $93,161, ultimately settling at $90,9902. The flagship cryptocurrency is down 0.29% during the ongoing session, trading around $90,648. 

Analysts believe Bitcoin may have carved out a local bottom after weeks of heavy selling, with one analyst stating a relief rally could see the price rally to $100,000. 

BlackRock’s IBIT Registers $114M In Net Outflows 

BlackRock’s iShares Bitcoin Trust (IBIT) recorded $114 million in net outflows on November 28 amid substantial volatility towards the end of the week. The outflow comes as investors continue reducing their exposure to digital assets. BlackRock stated it has observed clients pulling back from their Bitcoin positions during the ongoing market downturn. Several Bitcoin ETFs have reported heavy outflows, aligning with a broader strategy of reducing exposure to digital assets during market volatility. 

Despite the substantial outflows from IBIT, spot Bitcoin ETFs ended Friday in positive territory thanks to fresh inflows into Fidelity, ARK Invest, and Grayscale ETFs. The ETFs collectively recorded inflows of around $71 million. 

Bitcoin (BTC) Price Analysis

Bitcoin (BTC) may have hit a short-term bottom after weeks of selling. According to trader and analyst Mister Crypto, Bitcoin’s short-term structure is showing signs of stabilization after a major capitulation across the market. The analyst highlighted that several indicators tied to trader behavior suggest large players have started opening new positions despite market uncertainty. One of the main indicators cited by the analyst is the Relative Strength Index (RSI) on the weekly chart, which is approaching the oversold zone. 

“We have been reaching the 30 level.”

The analyst pointed out that this zone has coincided with market bottoms during previous cycles. However, he cautioned that this does not guarantee the beginning of a new bull run, stating that the current setup only indicates a temporary reversal. However, Bitwise Europe head André Dragosch has said that BTC could have major upside ahead, and its current price does not reflect improving macroeconomic conditions. 

BTC started the previous weekend in bearish territory, dropping over 5% and settling at $94,503. It recovered on Saturday, rising 1.10% to $95,544, but was back in the red on Sunday, dropping 1.42% to $94,183. Sellers retained control on Monday, BTC fell 2.21% to $92,100. The flagship cryptocurrency fell to an intraday low of $89,183 on Tuesday. However, it recovered from this level to reclaim $92,000 and settle at $92,914, ultimately rising 0.88%. Selling pressure returned on Wednesday, with BTC falling to a low of $88,483 before settling at $91,461.

Source: TradingView

Selling pressure intensified on Thursday as BTC fell over 5%, slipping below $90,000 and settling at $86,536. Bearish sentiment persisted on Friday as BTC plunged to an intraday low of $80,524 before rebounding to reclaim $85,000 and settle at $85,068. Price action was mixed over the weekend, with BTC falling 0.45% on Saturday before rising 2.51% on Sunday and settling at $86,808. Buyers retained control on Monday as BTC started the week in positive territory, rising 1.68% to $88,266. Selling pressure returned on Tuesday as the price fell 1.07% to $87,325. BTC recovered on Wednesday, rising nearly 4% to reclaim $90,000 and settle at 90,468. Buyers retained control on Thursday as the price rose 0.94% to cross $91,000 and settle at $91,316. BTC registered a marginal decline on Friday, settling at $90,902. The price is marginally down during the ongoing session, trading around $90,678.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Prediction market platform Kalshi is facing a lawsuit accusing it of running an illegal, unlicensed sports betting platform and indulging in market manipulation. 

The lawsuit, filed in the New York federal court, claims thousands of users were misled about how the platform’s markets functioned and who they were actually betting against. 

Kalshi Faces Class Action Lawsuit 

A group of users has initiated a class action lawsuit against prediction market platform Kalshi, accusing it of running an illegal sports betting platform and misleading customers about its market-making activities. The complaint claims Kalshi claims to be a regulated derivatives exchange, but in reality is operating as an unlicensed sportsbook, offering customers wagers on sports outcomes under the facade of “event contracts.” The lawsuit stated, 

“By operating unlicensed sports betting, Kalshi has violated gambling laws, engaged in illegal deceptive activity, and unjustly enriched itself at the expense of tens of thousands of consumers.”

Event contracts act like binary derivatives tied to the real world, permitted under federal rules when used for economic hedging or prediction purposes. The contracts are different from gambling because they do not involve sports or other games of chance. 

Kalshi Violated Rules 

The lawsuit claims Kalshi violated the rules by taking ordinary sports bets, sidestepping state gambling laws. Regulators in multiple states have argued that sports wagers remain illegal irrespective of how they are marketed. The plaintiffs argued that Kalshi took bets from users in states that ban online sports gambling, marketed itself as legal in fifty states, and ignored warnings and enforcement letters from regulators in Arizona, Illinois, Montana, Nevada, New Jersey, Ohio, and Massachusetts. 

Heightened Scrutiny 

The class action follows Kalshi’s legal problems in Nevada, where a judge lifted an injunction blocking state regulators from taking action against the platform. With the case active, the Nevada Gaming Commission and the Nevada Gaming Control Board can continue enforcing the law. The decision also undermines Kalshi’s claim that it is accountable only to the Commodity Futures Trading Commission (CFTC). 

The judge stated that some of Kalshi’s markets were similar to sports prop bets rather than derivatives due to the presence of information such as contracts linked to football touchdowns. The judge concluded that such contracts are not swaps under federal law, so states can make their own rules to regulate them. 

The decision sparked a swift reaction in the stock market, with major sports betting companies like DraftKings and Flutter Entertainment registering substantial gains.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Balancer DAO has initiated discussions about a recovery plan after a $110 million exploit. The DAO plans to distribute $8 million in recovered assets to impacted liquidity providers, with a structured payout and white hat reimbursement mechanism for users.

Balancer suffered a major exploit earlier this month, losing over $110 million from its Balancer v2 vaults. A smart contract flaw caused the exploit, making it the protocol’s third major security incident.

Balancer DAO Proposes $8M Recovery Plan

Balancer DAO has started discussions around a plan to distribute $8 million in recovered assets to affected liquidity providers. The discussions begin weeks after a major exploit that drained over $110 million from its Balancer v2 vaults. The recovered funds were rescued by whitehat actors and Balancer’s internal teams shortly after the November 3 attack. According to a request for comment (RFC) posted by DAO contributor Xeonus, the proposed plan includes a structured payout for whitehats and a reimbursement mechanism for users, based on snapshot data of their holdings at the time of the exploit.

The plan aligns with Balancer’s Safe Harbor Agreement, which outlines rules for ethical hackers recovering funds. The Safe Harbor Agreement caps bounties at $1 million per incident and requires complete Know-Your-Customer (KYC) details. It also sanctions screenings from participating whitehats. Several anonymous rescuers on Arbitrum refused to identify themselves and waived the bounty claim.

Recovered Tokens

The recovered tokens include WETH, rETH, WPOL, and MaticX. All liquidity providers will receive their payments in the same tokens originally provided, with the amount calculated on a per-pool pro-rata basis. Once developed, a claim mechanism will require users to accept Balancer’s updated terms of use if the DAOs move the approval to voting.

While the DAO is redistributing $8 million, another $19.7 million in osETH and osGNO was recovered by StakeWise, a whitehat hacker. These funds will be redistributed separately. Another $4.1 million was recovered by internal teams in a coordinated effort with another whitehat, Certora. However, Certora is ineligible for whitehat bounties due to prior service agreements.

As a result of the exploit, the total value locked on Balancer has fallen from $775 million to $258 million. Additionally, the protocol’s native BAL token has lost 30% in value.

The Balancer Hack

Deddy Lavid, the CEO of blockchain cybersecurity company Cyvers, described the Balancer hack as one of the most sophisticated attacks of 2025. The hack highlighted the need for better security as threats continue evolving. Balancer’s smart contracts had been audited by some of the best blockchain security firms. However, the platform still fell victim to the hack. Balancer’s GitHub page states that its code has been audited 11 times by four different blockchain security companies. This has prompted several users to question the value of the audits and whether they actually ensure code safety.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bitcoin (BTC) maintained its position above $91,000 after the flagship cryptocurrency reclaimed $90,000 earlier in the week. However, analysts have warned that Bitcoin bulls must pump more volume into the spot and futures markets to push the current price higher.

On-chain data has confirmed that Bitcoin remains on shaky grounds, as demand, liquidity, and futures activity remain slim. BTC is marginally down over the past 24 hours, trading around $91,817. 

Bitcoin Community Continues War Of Words With JPMorgan 

Several members of the Bitcoin community and supporters of treasury firm Strategy have hit out against JPMorgan’s proposed Bitcoin-backed notes and accused the bank of spreading fear, uncertainty, and doubt about Strategy and other crypto treasury companies. JPMorgan’s Bitcoin-backed notes are a leveraged investment product tied to BTC’s price. The investment product tracks BTC but amplifies the outcome, giving holders 1.5x gains or losses. The notes are slated to launch in December 2025, according to an SEC filing. 

The announcement drew substantial criticism from the Bitcoin community, with many arguing the notes make JPMorgan a direct competitor to treasury companies, and have an incentive to marginalize companies like Strategy to promote its financial product. One Bitcoiner stated on X, 

“Saylor opened the door to the $300 trillion bond market and $145 trillion fixed income market. Now, JP Morgan is launching Bitcoin-backed bonds to compete. The same institutions attacking MSTR are copying the strategy.”

Another opined that JPMorgan’s upcoming product exists to trigger margin calls on Bitcoin-backed loans, claiming it will force sell pressure from Bitcoin treasury companies in down markets. Several crypto enthusiasts and Strategy supporters have called for a complete boycott of JPMorgan, urging fellow Bitcoiners to close their accounts at the financial services giant and sell any shares they own in the company. 

CME Group Hit By Disruption 

The CME Group has temporarily paused trading across currencies, stock futures, and commodities after a cooling system disrupted operations at its data centers. The outage impacted nearly all futures and options contracts on the Globex platform, and also impacted the EBS forex trading system. CME Group issued an update about the outage on X, stating, 

“Due to a cooling issue at CyrusOne data centers, our markets are currently halted. Support is working to resolve the issue in the near term and will advise clients of Pre-Open details as soon as they are available.”

ETF Inflows Slow But Positive 

US spot Bitcoin ETFs continued to register inflows, although at a slower pace than usual. According to data from SoSovalue, spot Bitcoin ETFs recorded total net inflows of around $21 million on November 26, taking the cumulative net inflows to around $57 billion, while trading volume hit $4.6 billion for the day. BlackRock’s IBIT registered the lion’s share of inflows, with $42 million. However, Fidelity’s FBTC recorded an outflow of around $33 million, while Grayscale’s converted GBTC recorded a modest inflow of $5.6 million. 

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) retained the $90,000 support level as it heads into the Thanksgiving weekend after reaching a weekly high of $91,999. Price action has been muted thanks to Wall Street being closed. However, analysts expect a crucial resistance battle around $93,000. Analyst and entrepreneur Michaël van de Poppe stated, 

“If this level breaks, Bitcoin is back up to $100,000. All in all, a pretty strong bounce upwards. I want to see some consolidation here before we break through this resistance level.”

Crypto trader Daan Crypto Trades identified $97,000 as the key level to overcome for a move to $100,000 to materialize. 

“The $97,000-$98,000 is stacked after seeing that consistent and heavy sell off 1-2 weeks back. This created a ton of marginally lower highs, creating such a big liquidity pocket. The $97,000-$98,000 area is also in line with a clear horizontal price level. So overall, a good area to watch.”

BTC started the previous weekend in bearish territory, dropping over 5% and settling at $94,503. It recovered on Saturday, rising 1.10% to $95,544, but was back in the red on Sunday, dropping 1.42% to $94,183. Sellers retained control on Monday, BTC fell 2.21% to $92,100. The flagship cryptocurrency fell to an intraday low of $89,183 on Tuesday. However, it recovered from this level to reclaim $92,000 and settle at $92,914, ultimately rising 0.88%. Selling pressure returned on Wednesday, with BTC falling to a low of $88,483 before settling at $91,461.

Source: TradingView

Selling pressure intensified on Thursday as BTC fell over 5%, slipping below $90,000 and settling at $86,536. Bearish sentiment persisted on Friday as BTC plunged to an intraday low of $80,524 before rebounding to reclaim $85,000 and settle at $85,068. Price action was mixed over the weekend, with BTC falling 0.45% on Saturday before rising 2.51% on Sunday and settling at $86,808. Buyers retained control on Monday as BTC started the week in positive territory, rising 1.68% to $88,266. Selling pressure returned on Tuesday as the price fell 1.07% to $87,325. BTC recovered on Wednesday, rising nearly 4% to reclaim $90,000 and settle at 90,468. Buyers retained control on Thursday as the price rose 0.94% to cross $91,000 and settle at $91,316. BTC is marginally up during the ongoing session, trading around $91,335.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Upbit, one of the leading cryptocurrency exchanges in South Korea, temporarily halted deposits and withdrawals after detecting $36 million in unauthorized outflows from a Solana-network hot wallet. 

The hack occurred just as Upbit’s parent entity, Dunamu, completed a $10 billion acquisition deal with Naver and announced plans for an IPO in the US. 

Upbit Detects Unauthorized Withdrawals

Upbit has announced a temporary freeze on deposits and withdrawals after detecting $36 million in unauthorized outflows from a Solana-network hot wallet. The exchange stated in an official communication that the suspicious transfers were flagged at 4:42 AM local time(7:42 pm UTC), prompting an immediate shutdown of the transfer of services. The exchange also initiated a full security review of its supported crypto assets. The exchange later confirmed the breach was confined to its hot wallet and assured users that its cold wallet reserves were secure. 

The hack renewed scrutiny on Upbit’s parent entity, Dunamu. Dunamu had just announced a $10 billion acquisition deal with fintech giant Naver. The breach was reminiscent of Upbit’s 2019 breach, when it lost $50 million in a hack orchestrated by the dreaded Lazarus Group. 

“ALERT: Upbit suspends deposits and withdrawals after a $38.5M abnormal outflow on the Solana network, reporting the assets were transferred to an unknown wallet on Nov 27. Upbit confirms it will cover all losses.”

Users To Be Reimbursed 

Upbit has clarified that the freeze is not limited to Solana-based assets and will remain in place until the security review is completed. However, trading on the platform is operating normally. Users can buy and sell assets within the exchange, but cannot move the funds off the platform while the security review is ongoing. Upbit has also assured users that any balances lost due to the incident will be fully covered by its reserves. However, it reiterated its position that no customer funds were lost during the breach. 

The exchange added that customers do not need to perform any action and asked users to be patient while it completes its security review. 

Crypto Exchanges And Security Issues 

Trezor CEO Matej Zak believes the security issues surrounding cryptocurrency exchanges are unlikely to be resolved soon. Speaking at the TBD conference, Zak stated, 

“Exchanges are obviously massive honeypots for hackers. And since security is a moving target, this problem is not going away.”

He also highlighted the increase in crypto assets lost during security incidents in 2025. Blockchain security company CertiK noted that around $2.47 billion had been stolen in various hacks, scams, and exploits in the first half of 2025.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bitcoin (BTC) reclaimed $90,000 on Wednesday as the market opened in a positive mood. The flagship cryptocurrency climbed nearly 5% to reclaim $90,000 and cross $91,000 on Thursday. BTC is up 1% during the ongoing session, trading around $91,356. 

The rebound has helped Bitcoin reach a seven-day high, rallying from multi-month lows to reclaim $90,000 as the market heads into the Thanksgiving weekend. 

Tom Lee Walks Back $250,000 Prediction 

BitMine Immersion Technologies chair Tom Lee has walked back his “BTC to $250,000 by year’s end” forecast. While Lee remains bullish on the flagship cryptocurrency, he stated that he expected Bitcoin to reclaim $100,000 and possibly retest its all-time high, effectively ruling out $250,000 by the end of the year. 

“I think it’s still very likely that Bitcoin is going to be above $100,000 before year-end, and maybe even to a new high.”

This is the first time Lee has publicly backtracked on the $250,000 price target, which he first predicted in 2024 and reiterated until October 2025. Lee’s prediction was among the most bullish, with other crypto executives, including Galaxy Digital CEO Mike Novogratz, stating that “crazy stuff” needs to happen for Bitcoin to cross $250,000 by year-end. However, Lee said that BTC’s best days may still be ahead, stating, 

“I still think some of those best days are going to happen before year-end.”

Lee highlighted BTC’s tendency to make most of its gains over a small number of trading sessions, noting that the asset “makes its move” in just ten days annually. The idea is widely accepted among crypto executives, with Bitwise CEO Hunter Horsley stating back in February, 

“It’s hard to pick the perfect time to buy Bitcoin. TLDR: If you miss the 10 best days of Bitcoin’s return each year, you miss all the returns. And you don’t know when those days will be. Waiting can be costly.”

Cathie Wood Sticks to $1.5M Bitcoin Bull Price 

ARK Invest’s Cathie Wood believes equities and cryptocurrency markets could be setting up for a year-end reversal as US monetary policy turns more supportive. Wood believes market conditions will improve thanks to rising liquidity, which has already returned $70 billion into the market, with an additional $300 million expected to return over the next few weeks as the Treasury General Account normalizes. The Federal Reserve ending its quantitative tightening program on December 1 could also act as a catalyst for a recovery. ARK Invest stated in a post on X, 

“With liquidity returning, quantitative tightening (QT) ending December 1st, and monetary policy turning supportive, we believe conditions are building for markets to potentially reverse recent drawdowns.”

Wood also believes the ongoing liquidity squeeze limiting crypto and AI’s upside will reverse in the next few weeks. 

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) has rallied from a multi-month low of $80,000 to reclaim $91,000 on Wednesday and cross $91,000 on Thursday. Investors are hoping the uptrend continues as the market heads into the Thanksgiving weekend. Charles Edwards, founder of Capriole Investments, highlighted Wednesday’s price action as BTC reclaimed $90,000, looking to buck its trend of poor performances on Thanksgiving Day. 

Bitcoin has registered gains in only two out of ten Thanksgiving days, with notable declines in 2018 and 2020. Analysts were focusing on how high Bitcoin could go during this year’s Thanksgiving. BTC is testing the $91,000-$93,000 resistance in the first meaningful bounce in a while. However, analysts cautioned that markets will be choppy until the holiday. According to on-chain data provider Glassnode, BTC remains structurally fragile after losing its 50-week moving average and key cost-basis support. Glassnode stated in its latest report, 

“This current range echoes the same dynamic with the market drifting lower, constrained by limited inflows and fragile liquidity. If this ratio remains depressed, market conditions could begin to mirror the weakness of Q1 2022, raising the risk of a breakdown below the True Market Mean (~$81K).”

BTC started the previous weekend in bearish territory, dropping over 5% and settling at $94,503. It recovered on Saturday, rising 1.10% to $95,544, but was back in the red on Sunday, dropping 1.42% to $94,183. Sellers retained control on Monday, BTC fell 2.21% to $92,100. The flagship cryptocurrency fell to an intraday low of $89,183 on Tuesday. However, it recovered from this level to reclaim $92,000 and settle at $92,914, ultimately rising 0.88%. Selling pressure returned on Wednesday, with BTC falling to a low of $88,483 before settling at $91,461.

Source: TradingView

Selling pressure intensified on Thursday as BTC fell over 5%, slipping below $90,000 and settling at $86,536. Bearish sentiment persisted on Friday as BTC plunged to an intraday low of $80,524 before rebounding to reclaim $85,000 and settle at $85,068. Price action was mixed over the weekend, with BTC falling 0.45% on Saturday before rising 2.51% on Sunday and settling at $86,808. Buyers retained control on Monday as BTC started the week in positive territory, rising 1.68% to $88,266. Selling pressure returned on Tuesday as the price fell 1.07% to $87,325. BTC recovered on Wednesday, rising nearly 4% to reclaim $90,000 and settle at 90,468. The price has crossed $91,000 during the ongoing session and is trading around $91,270.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Prediction market platform Polymarket has secured regulatory approval from the US Commodity Futures Trading Commission (CFTC) to begin operations as an intermediated trading platform. 

The platform’s amended CFTC designation allows it to formally open in the US with a fully regulated exchange structure. 

PolyMarket Secures US Return 

Prediction market platform Polymarket has secured regulatory approval from the US Commodity Futures Trading Commission (CFTC) to begin operations as an intermediated trading platform. Polymarket stated in a notice that the CFTC issued an Amended Order of Designation, allowing the company to operate an intermediated trading platform, subject to the complete set of requirements applicable to federally regulated US exchanges. Polymarket added that the approval will allow the platform to onboard brokerages and customers directly, facilitating trading on US venues. Polymarket founder and CEO Shayne Coplan stated, 

“This approval allows us to operate in a way that reflects the maturity and transparency that the US regulatory framework demands. People rely on Polymarket because we provide clarity where there is confusion.”

The Path To Compliance 

Polymarket’s return to the US market required considerable work. The CFTC banned the platform from serving US customers in 2022 for operating an unregistered derivatives exchange and imposed a $1.4 million fine. However, Polymarket’s acquisition of QCX in July 2025 was a turning point because QCX LLC and QC Clearing already held the necessary CFTC licenses to operate as a derivatives exchange and clearinghouse. QCX’s acquisition gave Polymarket the foundation required to serve US customers legally. 

The CFTC issued a no-action letter in September 2025, effectively allowing Polymarket to operate in the US market. Investigations by the Department of Justice and the CFTC into Polymarket were also closed without any charges filed. 

The new designation allows US customers to access prediction markets through intermediaries like traditional brokerages instead of direct blockchain interactions. The platform has also upgraded its compliance systems to meet federal exchange standards, developing enhanced surveillance technology, clearing workflows, supervision policies, and regulatory reporting systems. The upgrades bring Polymarket in line with the regulatory requirements for designated contract markets under the Commodity Exchange Act. 

Institutional Interest 

Polymarket has registered significant growth and interest in 2025. The platform processed over $18 billion in total trading volume and grew its user base from 20,000 to over 58,000 daily active users. The platform is expected to reach $3.5 billion in trading volume in November, beating October’s record of $3 billion. The platform’s valuation has also soared, as it raised $200 million at a $1 billion valuation in June. The New York Stock Exchange’s parent company, Intercontinental Exchange, announced a $2 billion investment in the platform at a $9 billion valuation in October. Current reports suggest Polymarket is now seeking funding at a valuation of between $12 billion and $15 billion.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bitcoin (BTC) is down nearly 1% during the ongoing session as its recovery stalled after briefly crossing $89,000. The flagship cryptocurrency has struggled to regain momentum after dropping to a low of $80,524 on Friday. 

Analysts have warned of more liquidations, stating that a final leverage flush below $80,000 is possible. 

Texas Buys $5M Worth Of IBIT 

Texas has purchased $5 million worth of shares in BlackRock’s IBIT ETF, with another $5 million set aside for a self-custodied Bitcoin buy. The purchase was completed on November 20 and was announced by Lee Bratcher, President of the Texas Blockchain Council. Bratcher added that the government eventually plans to self-custody BTC. However, because it is still finalizing the process, the initial allocation was made with BlackRock’s IBIT. 

“Texas has become the first state to purchase BTC with a $10 million investment on November 20, for $87,000.”

Bitcoin Bond Company CEO Pierre Rochard called the purchase significant, adding that it reflected a change in attitude towards BTC in a very short time. 

“In five years, we went from ‘governments will ban BTC’ to ‘governments are only buying a small amount of BTC’. Hyperbitcoinization has happened, is happening, and will continue to happen.”

Strategy Stock Bleeds But Saylor Stays Firm 

Strategy’s stock price has plummeted this year, prompting concerns that its Bitcoin bet is coming undone. According to Google Finance, Strategy (MSTR) stock is down nearly 60% over the past year, and 40% year-to-date. The stock went from $300 in October to $170 at the time of writing. While many say this is the unraveling of its Bitcoin bet, Strategy is sitting on double-digit profits on its Bitcoin buys, and its long-term equity performance has outpaced major tech stocks. According to data from BitcoinTreasuries.NET, Strategy acquired its Bitcoin at an average price of $74,430. Bitcoin is currently trading around $86,000, meaning it is still 16% up on its investment. 

Strategy’s slump is largely due to how the biggest investors hedge their crypto exposure. BitMine Chair Tom Lee recently explained that Strategy has become the easiest way to hedge Bitcoin. 

“Someone can use MicroStrategy’s options chain, which is so liquid, to hedge all of their crypto. The only convenient way to hedge someone’s long is to short MicroStrategy or buy puts.”

This has led to Strategy becoming an unintended pressure valve for the crypto market, absorbing hedges, shorts, and volatility, factors that may have very little to do with its Bitcoin strategy. Kyle Rodda, senior analyst at Capital.com, believes that there is a risk that a big drop in Bitcoin prices could force Strategy to liquidate its holdings, putting downward pressure on Strategy and Bitcoin. 

“We are probably a long way from this. But the risk makes abundantly clear that in the long run, buying MSTR stock is potentially inferior to owning actual Bitcoin.”

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) is on track to end November in the red, breaking a long-standing pattern of it being one of its strongest months of the year. The flagship cryptocurrency historically averages gains of around 40% in November, but is currently trading 20% below its monthly open. The performance has led analysts to question whether seasonal performances still matter, with October also failing to live up to market expectations. Bitfinex analysts have attributed BTC’s recent price action to overheated buying between $106,000 and $118,000, noting that many of those buyers were now capitulating at a loss. 

Short-term BTC holders are also under pressure as BTC trades below its average cost basis, something which has happened only three times since early 2024. 

Meanwhile, crypto analyst James Check warned that BTC investors could be in for more pain, arguing that more leverage could still be flushed out. Check described the market meltdown as a “2-sigma long liquidation event,” which wiped out a “chunk of degen gamblers. He cautioned that another flush could be on the cards, stating, 

“Most of the leverage is gone, but the market has an incredible nose that can sniff out the final hold-outs. We wouldn’t be too surprised if we wick into the $70,000-$80,000 zone to flush the final leverage pockets.”

BTC started the previous weekend in bearish territory, dropping over 5% and settling at $94,503. It recovered on Saturday, rising 1.10% to $95,544, but was back in the red on Sunday, dropping 1.42% to $94,183. Sellers retained control on Monday, BTC fell 2.21% to $92,100. The flagship cryptocurrency fell to an intraday low of $89,183 on Tuesday. However, it recovered from this level to reclaim $92,000 and settle at $92,914, ultimately rising 0.88%. Selling pressure returned on Wednesday as BTC fell to a low of $88,483 before settling at $91,461.

Source: TradingView

Selling pressure intensified on Thursday as BTC fell over 5%, slipping below $90,000 and settling at $86,536. Bearish sentiment persisted on Friday as BTC plunged to an intraday low of $80,524 before rebounding to reclaim $85,000 and settle at $85,068. Price action was mixed over the weekend, with BTC falling 0.45% on Saturday before rising 2.51% on Sunday and settling at $86,808. Buyers retained control on Monday as BTC started the week in positive territory, rising 1.68% to $88,266. Selling pressure returned on Tuesday as the price fell 1.07% to $87,325. BTC is down nearly 1% during the ongoing session, trading around $87,325.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Galaxy Digital is in talks with prediction market platforms Polymarket and Kalshi about becoming a liquidity provider as on-chain betting on real-world events draws attention from retail and institutional traders. 

Several Wall Street firms, including Jump Trading and Susquehanna, are already active in the prediction market ecosystem. 

Galaxy Digital Holds Talks With Polymarket, Kalshi 

Galaxy Digital CEO Mike Novogratz has revealed that the firm is in active discussions with Polymarket and Kalshi to provide liquidity for prediction markets. Galaxy Digital has been running small-scale market-making trials with plans to expand. The move indicates growing institutional interest in the prediction market sector, with Jump Trading also making markets on Kalshi. 

Galaxy Digital primarily focuses on providing crypto infrastructure and services to institutional clients, and will act as a market maker on Kalshi and Polymarket, posting regular bids and offers to deepen trading. Novogratz revealed Galaxy is already experimenting with market making and prediction markets on a very small scale. The move could make Galaxy a key player in a market that features heavy participation from retail traders and financial firms. 

Prediction Markets Generating Interest 

Prediction markets were generally considered too niche to attract substantial interest, with Susquehanna International Group one of the few entities to publicly acknowledge its role as a market maker on Kalshi. However, some exchanges also run internal market-making entities to meet demand. Kalshi also runs a unit called Kalshi Trading that trades against customers. The company states that the desk has no access to non-public information generated by the platform. 

Meanwhile, Polymarket has started live testing a US exchange this month and has quietly onboarded a limited group of users as it prepares for a relaunch in the US. 

Jump Trading has also started market-making activities on Kalsh, while Cliff Asness, co-founder of AQR Capital Management, is contemplating moving into sports betting. However, there is backlash against prediction markets as well, with Melinda Roth, a law professor at Washington & Lee University, stating, 

“This is a mess for so many reasons. We have people taking money they often don’t have and not investing in the stock market or retirement savings.”

Trump Family Doubles Down

Kalshi began offering markets tied to sports earlier this year, shortly after winning a legal case to allow election betting. State gambling regulators have opposed this move, arguing it breaks local laws. However, Kalshi argued that it offered the products under federal CFTC oversight, not local and state gambling rules. 

Meanwhile, the Trump family has doubled down on prediction markets, with Donald Trump Jr. joining both Kalshi and Polymarket as an advisor. Trump Media & Technology Group had also held talks with Crypto.com before launching its own prediction platform, Truth Predict.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bitcoin (BTC) briefly reclaimed $89,000 on Monday, reaching an intraday high of $89,225 before settling at $88,266. The flagship cryptocurrency is showing signs of recovery thanks to easing selling pressure and growing expectations of a rate cut in December. 

Bitcoin crashed nearly 21% in November, with the slump largely driven by forced liquidations and a marketwide shift towards risk aversion. 

Strategy Has Raised $21 Billion Year-To-Date

Michael Saylor’s Strategy has raised $21 billion in 2025, according to a company statement with detailed funding breakdowns. The raise reflects a shift in Strategy’s funding structure compared to 2024, when the company raised $22.6 billion ($16.3 billion in common equity and $6.2 billion in convertible debt). The company has raised $20.8 billion in 2025 through $11.9 billion in common equity, $6.9 billion in preferred equity, and $2 billion in convertible debt. Strategy’s funding includes structured offerings across multiple securities: $1.18 billion in STRF, $2.68 billion in STRC, $0.71 billion in STRE, $1.25 billion in STRK, and $1.07 billion in STRD. 

Strategy has pivoted from software to position itself as a corporate Bitcoin treasury, using capital market access to fund its Bitcoin acquisitions. Strategy holds one of the largest Bitcoin positions, and its funding strategy has attracted substantial institutional interest. 

Robert Kiyosaki Warns About “Biggest Market Crash” 

Rich Dad Poor Dad author Robert Kiyosaki has claimed the “biggest crash in history” is unfolding across the US, Europe, and Asia. Kiyosaki warned investors must diversify into assets like gold, silver, Bitcoin, and Ethereum. Kiyosaki posted on X, 

“Biggest crash in history starting… In 2013, I published RICH DAD’S PROPHECY, predicting that the biggest crash in history was coming. Unfortunately, that crash has arrived… It’s not just the U.S.—Europe and Asia are crashing.”

Kiyosaki believes the ongoing downturn is not a normal recession, stating that the structural forces driving the downturn are deeper than the cyclical slowdown of investor sentiment. According to Kiyosaki, the trigger behind the current downturn is rapid technological disruption, driven by AI. 

“AI will wipe out jobs, and when jobs crash, office and residential real estate will crash.”

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) registered a steady recovery over the weekend after falling to a low of $80,524 on Friday. The flagship cryptocurrency fell 0.45% on Saturday before rising 2.51% to cross $86,000 and settle at $86,808. Buyers retained control on Monday, as the price rose 1.68% to $88,266. However, it is back in the red during the ongoing session, down over 1% at $87,320. 

New on-chain data revealed the number of Bitcoin whales holding at least 100 BTC is rising again after dropping to its lowest level in two years. The recovery comes as Bitcoin rebounds after a long downtrend, which sparked fears of an impending bear market. However, analysts have cautioned that early rumblings of a bull market may not be a reliable indicator of a sustained rebound. 

Santiment analysts have noted that while smaller wallets continue to contract, large entities have re-entered the market following BTC’s November decline. 

BTC is showing consistent signs of recovery as overall selling pressure eases and expectations of a Federal Reserve rate cut grow. According to Capriole Fund founder Charles Edwards, tech stocks and crypto markets fell over the past two weeks because of the market flip-flopping on the expectations of a rate cut. 

“A lot of the reason the S&P 500 dropped 200 points over the last 2 weeks is because of the market flip-flopping on expectations for a rate cut. We started November at 90% odds for a cut in December, dropped to only 30% and are now back at 70% likelihood of a rate cut. As the market reverts, expect it to carry Bitcoin somewhat higher.”

Meanwhile, Swissblock analysts believe BTC is on the verge of forming a bottom, stating, 

“The Risk-Off Signal is dropping sharply, which tells us two things: selling pressure has eased, and the worst of the capitulation is likely behind us, for now.”

BTC started the previous weekend in bearish territory, dropping over 5% and settling at $94,503. It recovered on Saturday, rising 1.10% to $95,544, but was back in the red on Sunday, dropping 1.42% to $94,183. Sellers retained control on Monday, BTC fell 2.21% to $92,100. The flagship cryptocurrency fell to an intraday low of $89,183 on Tuesday. However, it recovered from this level to reclaim $92,000 and settle at $92,914, ultimately rising 0.88%. Selling pressure returned on Wednesday as BTC fell to a low of $88,483 before settling at $91,461.

Source: TradingView 

Selling pressure intensified on Thursday as BTC fell over 5%, slipping below $90,000 and settling at $86,536. Bearish sentiment persisted on Friday as BTC plunged to an intraday low of $80,524 before rebounding to reclaim $85,000 and settle at $85,068. Price action was mixed over the weekend as BTC fell 0.45% on Saturday before rising 2.51% on Sunday and settling at $86,808. Buyers retained control on Monday as BTC started the week in positive territory, rising 1.68% to $88,266. BTC is down nearly 1% during the ongoing session, trading around $87,607.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bitcoin (BTC) bounced back on Sunday to reclaim $85,000 and start the week in positive territory. However, the flagship cryptocurrency lost momentum despite reaching an intraday high of $88,100, and is marginally down during the ongoing session. 

BTC is facing substantial selling pressure, with spot Bitcoin ETFs recording a surge in trading volume. Analysts believe the jump in trading volume, along with record redemptions, indicates institutional capitulation. 

JPMorgan Boycott Calls Gather Momentum 

Boycott calls against JPMorgan by the Bitcoin community and Strategy supporters have grown louder after it emerged that the MSCI, formerly Morgan Stanley Capital International, an index company that sets the criteria for index inclusion, is likely to exclude crypto treasury companies like Strategy from its indexes in January 2026. JPMorgan shared the MSCI news in a research note, prompting calls for a boycott. Real estate agent and Bitcoin advocate Grant Cardone stated in response to the boycott calls, 

“I just pulled $20 million from Chase and am suing them for credit card malfeasance.”

The exclusion of crypto treasury companies from stock indexes could trigger an automatic selloff of their shares from funds and asset managers mandated to buy specific types of financial instruments. As a result, the exclusion could have a significant impact on the crypto market. Strategy entered the Nasdaq 100 in December 2024. The inclusion allowed the company to benefit from passive capital flows from funds and investors holding the Nasdaq 100. Strategy founder and executive chairman Michael Saylor responded to the news, stating, 

“Strategy is not a fund, not a trust, and not a holding company. Funds and trusts passively hold assets. Holding companies sit on investments. We create, structure, issue, and operate. Strategy is a Bitcoin-backed structured finance company.”

Zcash Could Adversely Impact Bitcoin (BTC) 

Bloomberg ETF analyst Eric Balchunas believes that Zcash could adversely impact Bitcoin, risking a split in the vote against the flagship cryptocurrency at a time when it needs unified political and cultural support. Balchunas stated in a post on X, 

“Zcash has third-party candidate vibes, like Gary Johnson or Jill Stein. Seems like you are better off folding in their ideas into the main party vs splitting the vote, which could have major consequences, especially in such a crucial time for BTC. I don’t get it. I’m just an ETF guy, though.”

The analyst’s comments come as the Bitcoin vs Zcash debate intensifies. However, Arman Meguerian, founder and CEO of Timestamp, dismissed ideas that Bitcoin supporters are pivoting to Zcash. 

“I don’t know a single bitcoin maxi that thinks about Zcash at all.”

Meanwhile, Jan3 founder Samson Mow stated, 

“We are only looking at Zcash to roll our eyes at it.”

Most Clients Not Considering Bitcoin (BTC) For Daily Payments: BlackRock

Robbie Mitchnick, BlackRock’s head of digital assets, stated that most of the asset manager’s clients are not considering using Bitcoin for daily payments when deciding to invest in the asset. Mitchnick stated during a podcast on YouTube, 

“I think for us, and most of our clients today, they’re not really underwriting that global payment network case. That’s sort of maybe out-of-the-money-option-value upside.”

However, he clarified that this does not mean Bitcoin won’t eventually achieve recognition as a mode of payment. However, he called such a scenario speculative, adding that investors were more interested in the “digital gold” and “store-of-value” thesis. 

“There’s a lot that needs to happen in terms of Bitcoin scaling, Lightning, and otherwise to make that possible.”

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) rebounded over the weekend after falling to a low of $80,524 on Friday. The flagship cryptocurrency registered a marginal drop on Saturday before rising 2.51% on Sunday and settling at $86,808. However, selling pressure has returned during the ongoing session, with the price down nearly 1% at $86,199. 

The flagship cryptocurrency’s price volatility has surged over the past two months, indicating a potential return to options-driven price action that could trigger large moves in either direction. According to Jeff Park, market analyst at Bitwise, BTC’s implied volatility has never crossed 80% since the launch of spot Bitcoin ETFs. However, Park highlighted a chart revealing that volatility is pushing towards 60%. Park said Bitcoin’s price action in January 2021, which kicked off its 2021 bull run, was the last options-driven melt-up. Park stated, 

“Ultimately, it is options positioning, not just spot flows, that creates the decisive moves that carry Bitcoin to new highs. It’s possible that for the first time in nearly two years, the volatility surface is flickering with early signs that Bitcoin might become option-driven again.”

The analysis questions the theory that Bitcoin ETFs and institutional investors had rooted out volatility and shifted Bitcoin’s market structure to reflect a more mature asset class. 

BTC reclaimed $86,000 on Sunday and added marginal gains during the ongoing session. Analysts believe the price should stabilize between $$89,000 and $95,000, ruling out a quick return to $100,000. They also highlighted substantial outflows from spot Bitcoin ETFs last week to reiterate their stance about institutional demand cooling. Analysts from TeraHash stated, 

“At the peak of inflows in late Q2, spot Bitcoin ETFs were drawing around $600–$700 million daily. Due to that, the price quickly broke above the $115,000 mark, eventually setting an all-time high above $126,000. So, ETFs are a direct reflection of the demand level.”

The last 24 hours have seen trading volumes rise to $64.7 billion, indicating a jump in activity after heavy selling. ConGlass data shows that derivatives volume increased 35% to $93 billion, while open interest rose 0.64%. Rising volumes and higher open interest indicate that traders are returning to the market after a period of liquidation. 

BTC started the previous weekend in bearish territory, dropping over 5% and settling at $94,503. It recovered on Saturday, rising 1.10% to $95,544, but was back in the red on Sunday, dropping 1.42% and settling at $94,183. Sellers retained control on Monday, BTC fell 2.21% and settled at $92,100. The flagship cryptocurrency fell to an intraday low of $89,183 on Tuesday. However, it recovered from this level to reclaim $92,000 and settle at $92,914, ultimately rising 0.88%. Selling pressure returned on Wednesday as BTC fell to a low of $88,483 before settling at $91,461.

Source: TradingView

Selling pressure intensified on Thursday as BTC fell over 5%, slipping below $90,000 and settling at $86,536. Bearish sentiment persisted on Friday as BTC plunged to an intraday low of $80,524 before rebounding to reclaim $85,000 and settle at $85,068. Price action was mixed over the weekend as BTC fell 0.45% on Saturday before rising 2.51% on Sunday and settling at $86,808. The price is down nearly 1% during the ongoing session, trading around $86,200.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bitcoin (BTC) traders are an optimistic lot after the probability of a rate cut by the US Federal Reserve nearly doubled over 24 hours. As a result, the flagship cryptocurrency rebounded, reclaiming $85,000 and moving to its current level of $86,447, a 3% increase over the past 24 hours. 

Bitcoin plunged to an intraday low of $80,524 on Friday, as selling pressure peaked due to concerns over liquidity and macroeconomic factors. However, it has mounted a steady recovery since, crossing $85,000 on Sunday. 

Spot Bitcoin ETFs End Week In Positive Territory 

Spot crypto ETFs ended the week on a positive note, with Bitcoin, Ethereum, and Solana ETFs recording inflows after a bruising week of heavy outflows. Spot Bitcoin ETFs recorded over $238 million in net inflows on Friday after registering heavy outflows on Thursday. BlackRock’s IBIT led the rebound with $108 million in net inflows, supplemented by smaller inflows by BITB, ARKB, and BTCO. Grayscale’s GBTC also registered inflows of over $60 million. The recovery comes after a $903 million outflow on Thursday, the largest in November, and one of the largest single-day outflows since Bitcoin ETFs were launched in January 2024. 

Solo Miner Beats Massive Odds To Mine Block 

A solo Bitcoin miner earned 3,146 BTC, worth $266,000, after solving a block with only a fraction of the computing power typically needed to generate block rewards. The miner, believed to be operating only a hobby-grade machine, mined the block with a hash rate of roughly 1.2 terahashes per second. CKpool creator Con Kolivas announced the news on X while congratulating the miner, and noting how improbable the event was, estimating the odds to be around 1.2 million to one per day at the miner’s reported hash rate. 

The lucky miner received 3.125 BTC from the block subsidy and 0.021 BTC in transaction fees, bringing the total reward to around 3.146 BTC. 

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) has reclaimed $85,000 during the ongoing session as it continues its recovery after plunging to a low of $80,5245 on Friday. The flagship cryptocurrency ultimately settled at $85,068 before dropping 0.45% on Saturday and settling at $84,684. 

However, investor sentiment has turned positive thanks to the dovish stance of New York Fed President John Williams. Williams stated that the central bank could keep interest rates lower in the near term without compromising its fight against inflation, comments that the market interpreted as highly dovish. Bloomberg analyst Joe Weisenthal stated that Williams’s comments were the primary reason the odds of a rate cut increased. The CME FedWatch Tool showed the odds of a rate cut in December rising to 69.40% on Friday, up from 39% a day earlier. 

“These comments from NY Fed President Williams have massively increased the odds of a December rate cut.”

Analyst Ted Pillows stated, 

“The odds of a rate cut next month are now at 69.5%. It has almost doubled today after the NY Fed hinted at a rate cut. I still think that odds will go down as the Fed has no recent data to take a rate cut decision.”

BTC ended the previous weekend in positive territory, rising over 2% and settling at $104,694. The price continued pushing higher on Monday, rising 1.23% to cross $105,000 and settle at $105,979. BTC reached an intraday high of $107,482 on Tuesday. However, it lost momentum as bear market conditions set in. As a result, it fell nearly 3% and settled at $103,009. Sellers retained control on Wednesday as the price fell 1.33% to $101,639. BTC faced substantial selling pressure and volatility on Thursday. As a result, it slipped below the crucial $100,000 mark, falling to a low of $97,870 before settling at $99,614. Selling pressure intensified on Friday as the price plunged over 5%, falling to a low of $93,951 before settling at $94,503. Despite the overwhelming selling pressure, BTC recovered on Saturday, rising 1.10% to reclaim $95,000 and settling at $95,544. Selling pressure returned on Sunday as BTC fell to a low of $92,943 before settling at $94,183, ultimately dropping 1.42%.

Source: TradingView

Bearish sentiment persisted on Monday as the price fell by over 2% and settled at $92,100. Selling pressure intensified on Tuesday as BTC slipped below $90,000, falling to an intraday low of 89,183. However, it rebounded from this level to reclaim $90,000 and settle at $92,914, ultimately rising nearly 1%. BTC slipped below $90,000 again on Wednesday, falling to a low of $88,483 before settling at $91,461. Selling pressure intensified on Thursday as the price dropped by over 5% and settled at $86,536. The flagship cryptocurrency plunged to an intraday low of $80,524 on Friday as selling pressure intensified. However, it rebounded as market sentiment lifted thanks to dovish comments by Federal Reserve officials. As a result, BTC reclaimed $85,000 and settled at $85,068. Sellers retained control on Saturday as the price fell 0.45% to $84,684. However, the flagship cryptocurrency has rebounded during the ongoing session and is up 1.38% at $85,858.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bitcoin (BTC) plunged to a low of $80,524 on Friday, with analysts stating that the flagship cryptocurrency had entered the most bearish phase of the current cycle. 

However, analysts are optimistic of a rebound as the probability of a rate cut in December doubled in 24 hours, boosting market sentiment.

Federal Reserve Rate Cut Odds Surge 

Market optimism has returned after the odds of a Federal Reserve rate cut in December nearly doubled in 24 hours. The shift has sparked speculation of a policy pivot that could help Bitcoin stabilize after a substantial downturn. The CME FedWatch Tool showed the odds of a December rate cut jumped to 69.40%, up from just 39% a day prior. Analysts highlighted dovish remarks from New York Federal Reserve President John Williams, who stated that the Fed could lower rates in the near term without jeopardizing its campaign against inflation. According to Bloomberg analyst Joe Weisenthal, Williams’s comments were the primary driver behind the optimism. 

Meanwhile, crypto analyst Moritz wondered if the jump in rate cut odds could help Bitcoin find a bottom. Rate cuts push investors towards assets like Bitcoin as yields on traditional investment instruments drop. Analyst Ted Pillows stated, 

“The odds of a rate cut next month are now at 69.5%. It has almost doubled today after the NY Fed hinted at a rate cut. I still think that odds will go down as the Fed has no recent data to take a rate cut decision.”

US Congressman Proposes Allowing Tax Payments In Bitcoin 

Representative Warren Davidson, a longtime ally of the crypto industry, has introduced a bill to allow individuals and businesses to pay federal taxes in Bitcoin (BTC) without triggering capital gains liability. The bill, called the Bitcoin for America Act, directs the fund into the US Strategic Bitcoin Reserve, providing a new funding mechanism for a federal crypto stockpile. A press release on Representative Davidson’s official website quoted him as stating, 

“The Bitcoin for America Act marks an important step toward modernizing our financial systems and embracing the innovation that millions of Americans already use every day. By allowing taxpayers to pay federal taxes in Bitcoin and having the proceeds placed into the Strategic Bitcoin Reserve, the nation will benefit by having a tangible asset that appreciates in value over time—unlike the U.S. dollar, which has steadily lost value under inflationary pressures.”

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) is on track for its worst monthly performance since 2022, when a string of high-profile bankruptcies rocked the industry. The flagship cryptocurrency nearly fell below $80,000 on Friday, and has shed almost a quarter of its value in November, the most since 2022. Bitcoin is down over 30% from its all-time high in October, and has struggled to regain momentum after record liquidations on October 10 wiped out $20 billion from the market. Chris Newhouse, Director of Research at Ergonia, stated, 

“The convergence of forced liquidations and structural ETF selling has pushed the market into a particularly vulnerable state where any attempt at stabilization faces immediate supply from multiple sources.”

BTC ended the previous weekend in positive territory, rising over 2% and settling at $104,694. The price continued pushing higher on Monday, rising 1.23% to cross $105,000 and settle at $105,979. BTC reached an intraday high of $107,482 on Tuesday. However, it lost momentum as bear market conditions set in. As a result, it fell nearly 3% and settled at $103,009. Sellers retained control on Wednesday as the price fell 1.33% to $101,639. BTC faced substantial selling pressure and volatility on Thursday. As a result, it slipped below the crucial $100,000 mark, falling to a low of $97,870 before settling at $99,614. Selling pressure intensified on Friday as the price plunged over 5%, falling to a low of $93,951 before settling at $94,503.

Source: TradingView

Despite the overwhelming selling pressure, BTC recovered on Saturday, rising 1.10% to reclaim $95,000 and settling at $95,544. Selling pressure returned on Sunday as BTC fell to a low of $92,943 before settling at $94,183, ultimately dropping 1.42%. Bearish sentiment persisted on Monday as the price fell by over 2% and settled at $92,100. Selling pressure intensified on Tuesday as BTC slipped below $90,000, falling to an intraday low of 89,183. However, it rebounded from this level to reclaim $90,000 and settle at $92,914, ultimately rising nearly 1%. BTC slipped below $90,000 again on Wednesday, falling to a low of $88,483 before settling at $91,461. Selling pressure intensified on Thursday as the price dropped by over 5% and settled at $86,536. BTC plunged to an intraday low of $80,524 on Friday as selling pressure intensified. However, it rebounded to reclaim $85,000 and settle at $85,068. The flagship cryptocurrency is down over 1% during the ongoing session, trading around $84,140.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.