The Federal Reserve is divided over a potential December rate cut, with hawks focused on inflation risks and doves urging lower interest rates to sustain growth amid slowing inflation and tariff pressures. Market participants, expecting a Fed rate cut, have priced in lower borrowing costs—potentially lifting risk assets like cryptocurrencies—yet incomplete economic data from the U.S. government shutdown introduces uncertainty. Key indicators—slowing inflation trends, mixed employment figures and persistent global trade tensions—fuel the debate. Traders should monitor Fed rate cut discussions and statements closely, as a cut may boost crypto prices by reducing yields on safer assets, whereas a hold could strengthen the dollar and increase market volatility. Strategies include portfolio diversification, tracking policy updates and analyzing past rate decisions’ effects on markets. This ongoing Fed rate cut debate underscores the balance between economic stimulus and inflation control, with implications for crypto traders navigating interest rate shifts and market volatility.
Neutral
Federal ReserveRate CutCryptocurrency MarketMonetary PolicyMarket Volatility
Ethereum spot ETFs have experienced significant net outflows as investors adopt a risk-off stance. On October 20, these funds recorded $146 million in withdrawals, driven by escalating U.S. political tensions and a sharp ETH price decline. Bitcoin spot ETFs also saw $40.47 million pulled over a four-day span.
More recently, TraderT data show a historic $107.39 million net outflow on November 11. Grayscale Mini ETH led withdrawals with $75.75 million, followed by BlackRock’s ETHA at $19.99 million. No Ethereum spot ETFs saw inflows that day. These cumulative outflows—exceeding $250 million—highlight volatile market conditions and shifting institutional sentiment. Traders should track ETH ETF flows and U.S. policy updates closely, as sustained withdrawal trends could influence ETH price action and broader crypto market dynamics.
Ethereum supply on centralized exchanges has dropped to a one-year low, driven by large-scale whale accumulation. Data from CryptoQuant and Binance show a sustained outflow of ETH as investors transfer tokens to private wallets. Whales holding 10,000 to 100,000 ETH have increased their combined balances by 7.6 million ETH since April 2025, a 52% rise.
Institutional investor BitMine Immersion Technologies recently added over 110,000 ETH, bringing its total to 3.5 million ETH. BitMine aims to own 5% of the total Ethereum supply, citing strong fundamentals and the upcoming Fusaka network upgrade in December 2025. The Fusaka upgrade targets improved scalability and efficiency for decentralized applications, DeFi protocols, and NFTs.
This drop in Ethereum supply suggests reduced selling pressure and bullish sentiment among major holders. While retail traders have trimmed positions, whale buying reflects confidence in Ethereum’s long-term potential. Lower exchange supply trends often precede price rallies, making ETH supply and network upgrades key indicators for future bullish momentum.
Nick Timiraos of the Wall Street Journal warns that the Fed lacks consensus on a December rate cut. Government shutdown has halted key labor and inflation data since October 1. Fed Chair Jerome Powell likened the situation to driving in fog. Following two rate cuts in September and October, the federal funds target stands at 3.75%–4%. Powell stated that a December rate cut is "far from guaranteed." Market odds for a cut in December plunged from near 100% to 63%–75%, according to SSGA. With official data dark, traders rely on private surveys with inconsistent coverage. Gold surged to $4,050 per ounce, reflecting elevated risk appetite. Internal Fed debates focus on three issues: inflation control, labor market weakness, and whether current rates are still restrictive. Hawks warn that easing risks reigniting inflation. Doves point to slow hiring gains and rising unemployment. Powell publicly highlighted Fed division to temper market bets on a specific outcome. Even if shutdown ends, the Fed may lean on qualitative indicators to guide policy. Uncertainty over a December rate cut continues to fuel market volatility and could reshape global capital flows.
Bearish
Federal ReserveDecember rate cutGovernment shutdownInflationMarket volatility
BitMEX co-founder Arthur Hayes has made Zcash (ZEC) the second-largest holding in his Maelstrom family office after Bitcoin (BTC). ZEC’s price spiked near $700 before correcting to about $478. Hayes plans to buy dips into the $300–350 range. His bullish Zcash outlook rests on three pillars: the November 18 halving that will tighten supply, Grayscale’s $102m ZEC fund offering institutional backing, and rising demand for on-chain privacy. He also sets a long-term target of $10,000 per ZEC but warns that high leverage may trigger sharp volatility and liquidations. Traders should monitor the halving, institutional inflows, on-chain shielded transfers and exchange flows to balance risk and reward in this high-volatility privacy coin.
Bitcoin (BTC) filled its latest CME futures gap at $104,000 after the Wall Street open, a historically reliable short-term target for bulls. However, a sudden $240 million sell-off by large whales in the order book stalled the rebound and pushed BTC back below key resistance. Derivatives traders have turned risk-off: open interest (OI) in BTC futures dropped more than 11% in the past week, according to CryptoQuant, signaling a broad deleveraging across the market. Analysts from Material Indicators and Skew highlight concentrated sell orders and renewed short positions at the $104K pivot. While gap fills often precede price gains, the current whale pressure and reduced OI suggest consolidation may continue before any sustainable breakout.
Bitwise launched the first Solana staking ETF (BSOL) on October 28, 2025, on NYSE Arca, integrating on-chain staking rewards into NAV. Solana staking ETF BSOL offers investors dual returns from SOL price exposure and approximately 7% annualized on-chain yield. Institutional inflows exceeded $545 million within two weeks, underscoring growing demand for yield-bearing products. Despite strong net inflows, SOL’s spot price fell nearly 29% amid macro headwinds, highlighting the slower price transmission of locked staking capital compared to spot ETFs. The surge in institutional capital pushed Solana’s total staked supply to over 417 million SOL, equivalent to about $35 billion in TVL. BSOL reshapes Solana’s PoS ecosystem with a dual-layer structure: a TradFi staking pool for compliant institutional funds and a DeFi layer (bSOL, mSOL, JitoSOL) for liquidity. The BSOL model may extend to other PoS chains like Sui, AVAX, and ATOM, paving the way for multi-asset yield baskets. Key risks include yield volatility, slashing risk, and liquidity constraints. As blockchain yields gain financialization, Solana staking ETF marks a shift from price speculation to yield-based valuation.
Lookonchain data shows a major PEPE whale, “ThisWillMakeYouLoveAgain,” with over $36 million in PEPE unrealized gains, has acquired 8.41 million ASTER tokens since November 4. The whale purchased ASTER at an average price of $0.97, spending roughly $8.14 million, and now holds an unrealized profit of $1.1 million. This continued ASTER token accumulation highlights sustained whale interest and could impact market liquidity and price movements. Traders should watch large‐scale ASTER transactions for potential signals on token valuation.
According to on-chain tracker The Data Nerd, whale Hm8po has accumulated an additional 121,000 TRUMP tokens on Bybit, spending about $951,000. The whale now holds 233,500 TRUMP, valued at roughly $1.81 million, with an average entry price of $7.08. This large-scale TRUMP accumulation underscores growing institutional interest. Traders should monitor any subsequent on-chain movements or announcements, as further whale buys could fuel a bullish rally, while potential sell-offs may trigger short-term price dips.
Bullish
TRUMPCrypto WhaleToken AccumulationBybitMarket Position
A major Bitcoin mining facility fire erupted at Bitdeer’s new Ohio site on November 12, causing two of 26 buildings to collapse. Bitmain founder Jihan Wu confirmed via X that there were no casualties. Senior management has launched an on-site investigation. This Bitcoin mining facility fire is expected to delay Bitdeer’s planned Q1 2025 launch by several months. Key impacts include disrupted hash rate expansion, infrastructure rebuilding requirements, financial strain on the company and supply chain disruptions for mining hardware. The incident highlights the critical need for robust mining safety protocols, such as advanced electrical fire prevention systems, emergency response measures and regular facility inspections. Despite the setback, global demand for Bitcoin mining remains strong. Bitdeer’s ability to restore operations quickly and implement enhanced safety measures will be closely watched by investors and industry peers.
Sony has unveiled a Japan-Only PS5 Digital Edition priced at ¥55,000 ($357), launching November 21 to boost local market share. The region-locked console undercuts the global model’s ¥72,980 price tag and counters Nintendo’s new Switch 2 edition. CEO Hideaki Nishino highlighted affordability as key to expanding the PS5 ecosystem among Japanese gamers. This targeted pricing strategy mirrors Nintendo’s successful regional initiatives. Sony also raised its operating profit forecast to ¥1.43 trillion for the fiscal year after reporting a ¥429 billion profit in the latest quarter. The company approved a ¥100 billion share buyback to bolster shareholder value. PS5 hardware sales hit 3.9 million units, exceeding last year’s results, though monthly active PlayStation users dipped to 119 million. This Japan-Only PS5 Digital Edition initiative aligns with broader profit gains across Sony’s entertainment and sensor divisions, positioning the company to reclaim ground in Japan’s competitive console market.
Neutral
PlayStation 5Console PricingSonyNintendo SwitchJapan Gaming Market
Sonic Labs has shifted to a token-driven growth strategy, unveiling a deflationary tokenomics model. The network will use tiered fee rewards for builders and validators, allocating portions of gas fees to stakeholders and burning the rest to reduce the S token supply. Under new CEO Mitchell Demeter, Sonic Labs has secured funding to open a New York City office, targeting US institutional adoption. The project emphasizes technical enhancements and sustainable ecosystem growth over short-term marketing, focusing on incentives for developers and validators. The revamped tokenomics model aims to foster long-term value by aligning network economics with fundamental growth drivers.
Bullish
Sonic LabsTokenomicsDeflationary ModelEcosystem GrowthUS Expansion
Zhimin Qian, known as China’s “Goddess of Wealth”, pleaded guilty in a UK court to running a Ponzi scheme that defrauded over 128,000 investors between 2014 and 2017. In 2018, UK authorities carried out the largest Bitcoin seizure to date, confiscating over 61,000 BTC (approx. $6.5 billion). Qian, who used aliases like Yadi Zhang, laundered stolen funds via luxury real estate and high-end purchases. She faces up to 14 years’ imprisonment under the Proceeds of Crime Act, while accomplice Jian Wen has already been jailed for six years.
Courts now navigate cross-border compensation hurdles: victims may wait years to claim assets and contest whether compensation aligns with the BTC’s value at seizure or its current price. UK police and the Crown Prosecution Service are coordinating a crypto asset recovery and victim-claim process. This Bitcoin seizure highlights intensifying crypto regulation and enforcement in the UK.
Binance founder Changpeng Zhao (CZ) recently unfollowed over 300 X (formerly Twitter) accounts within two months, triggering a debate on the distorted crypto attention economy. Data from RootData shows that on November 8–9, CZ removed follow status from active BNB Chain projects like BakerySwap and ReachMe. CZ explained this was a cleanup of inactive profiles and warned against buying ‘CZ-followed’ accounts, pledging immediate unfollows if such sales are detected.
Traders report individual CZ-followed accounts traded for up to $80,000 during the bull market, with typical deals ranging from $2,000 to $20,000. A notorious case involves the Oracle project, whose team allegedly acquired and rebranded a CZ-followed account to pump token sales before disappearing with investor funds.
This episode highlights systemic problems: small projects struggle for legitimate exposure, leading to extreme marketing tactics and turning social media “backing” into hard currency. The industry’s attention deficit underscores the need for robust data-driven evaluation and a return to product quality over short-term FOMO.
Neutral
BinanceCZAttention EconomyAccount TradingSocial Media Marketing
Crypto security researcher Gianluca Di Bella warns that advances in quantum computing pose an immediate threat to current encryption and zero-knowledge proofs. He highlights “collect now, decrypt later” attacks, where adversaries harvest encrypted data today and decrypt it once quantum hardware matures.
Di Bella urges the industry to migrate now to NIST-approved post-quantum encryption standards—ML-KEM, ML-DSA and SLH-DSA—to ensure long-term data security. Practical deployment remains slow due to Rust-based development complexity, limited investment and a niche talent pool.
He adds that post-quantum zero-knowledge proof protocols like PLONK are still untested in production. He warns major tech firms could achieve quantum breakthroughs within 10–15 years, and authoritarian regimes may exploit hidden quantum decryption capabilities. Immediate adoption of post-quantum encryption is vital to safeguard sensitive data and preserve crypto integrity against future quantum threats.
Cryptocurrency markets experienced broad declines, with the AI sector leading losses at 6.33% in 24 hours. Top AI tokens such as DeAgentAI (AIA), Fetch.ai (FET), and Fartcoin (FARTCOIN) fell by 26.9%, 11.1%, and 11.6% respectively. Bitcoin (BTC) slid 2.6% to trade below $104,000, while Ethereum (ETH) dropped 3.7% under $3,500.
Other sectors also retraced: CeFi fell 2.9% despite Aster (ASTER) gaining 1.1%, PayFi retreated 4.6% as Nano (XNO) rose 24.8%, Layer1 dropped 4.8% led by Zcash (ZEC) down 16.2%, Meme tokens declined 4.8%, and Layer2 lost 5.4% with SOON jumping 6.6%. This crypto market slump reflects heightened volatility across sectors in the wider crypto market.
Bitdeer (BTDR) confirmed a fire at its new crypto mining farm in Massillon, Ohio, on November 12, collapsing two of its 26 buildings without injuries. Chairman and CEO Wu Jihan said senior management has arrived on site to investigate the cause. The incident underscores operational risk in crypto mining and could temporarily reduce Bitdeer’s hash rate capacity. Traders should monitor farming output and potential downtime as indicators of short-term market impact in Bitcoin mining.
Bank of England Deputy Governor Sarah Breeden unveiled a new stablecoin regulation framework targeting systemic stablecoins used in payments. The proposals cap individual holdings at £20,000 and business holdings at £10 million. Issuers must place 40% of backing assets as non-interest-bearing deposits at the Bank of England. These measures aim to prevent bank deposit outflows and ensure liquidity, drawing on lessons from the 2023 Silicon Valley Bank collapse—which trapped $3.3 billion of USDC reserves—and the brief USDC depeg. The stablecoin regulation balances feasibility with financial stability, replacing an earlier 100% reserve plan. By enforcing reserve requirements and holding limits, the Bank seeks to curb rapid confidence loss and preserve the UK’s deposit-funded lending system. Traders should watch for evolving rules, as they may alter stablecoin liquidity and market dynamics.
Neutral
Stablecoin RegulationBank of EnglandUSDC DepegSVB CollapseFinancial Stability
GoTyme Bank, a BSP-licensed digital bank and VASP, has announced plans to integrate Google Pay and Apple Pay into its GoTyme mobile app, aiming to enhance online and in-store transactions in the Philippines. The bank also outlined its roadmap to launch a full crypto rollout under the “Go Crypto” feature, currently in limited testing, supporting BTC, ETH, XRP, SOL, LINK, AAVE, AVAX, BCH and DOT. Additional future services include local equities trading, foreign user onboarding via Wise-powered remittances, Buy Now, Pay Later lending, expanded biller and insurance options, and continued deployment of Dewey Machines for cash access. Since receiving its VASP license in 2024, GoTyme Bank has grown to ₱30 billion in deposits and 6.5 million users. Co-CEO Abet Tinio emphasized financial inclusion, user education, and safe trading ahead of the full crypto launch.
Sonic Labs has unveiled a new sustainable growth strategy focused on real-world utility. The plan shifts from speculative token models to tangible value creation. Key initiatives include a fee reward system that shares platform revenue with S token holders, enhanced token deflation to boost scarcity, and restructured rewards for builders and validators. The strategy also emphasizes financial stability and sound business practices to support network security and developer incentives. Expansion plans feature a new New York office to leverage financial and tech talent, and an expanded content hub to educate users and developers. By prioritizing real-world utility and sustainable business models, Sonic Labs aims to set a new benchmark for blockchain projects and encourage long-term investor confidence. Traders should watch for increased network activity and potential token supply reduction as the fee rewards and deflation mechanisms take effect.
Bullish
Sonic Labscrypto utilitygrowth strategytoken deflationfee rewards
XRP consolidation around $2.30 has intensified following significant whale sell-offs. Over the past 48 hours, large holders offloaded 500,000 XRP, reducing collective whale balances from 6.9 billion to 6.23 billion tokens. After failing to breach the $2.50–$2.60 resistance zone, XRP has entered a tight $2.20–$2.40 trading range, with support levels at $2.10 and $1.95 under test. Trading volume has contracted, signaling cautious market sentiment and potential for further downside toward $1.90–$2.00 if distribution continues. On the bullish side, growing banking stablecoin initiatives from institutions like JPMorgan and Citi may boost XRP’s role as a neutral bridge for cross-border payments, enhancing interoperability across fragmented networks by 2026. Traders should monitor on-chain whale activity and volume shifts for reversal signals and watch key support levels to gauge short-term momentum.
ARK Invest, led by Cathie Wood, acquired 157,731 additional Alibaba shares on November 11 as part of its strategic focus on AI-driven companies. This acquisition of Alibaba shares increases Ark’s stake in the Chinese e-commerce and cloud computing giant amid a 91% year-to-date rally in its stock. Ark Invest’s renewed confidence reflects growing optimism around the company’s artificial intelligence initiatives and a broader rebound in the Chinese tech sector. The move aligns with Ark’s emphasis on innovation and could signal further institutional interest in AI-focused equities.
Federal Reserve officials are increasingly split over the timing and necessity of a December rate cut, marking one of the most significant internal disagreements during Jerome Powell’s nearly eight-year tenure. The divide centers on whether persistent inflation or a slowing labor market poses the greater threat to the U.S. economy. Some policymakers argue for a December cut, treating it as interchangeable with a potential January meeting, while others caution that delivering a rate cut without clear economic improvement could undermine the Fed’s credibility.
Investors have largely priced in a Federal Reserve rate cut at the upcoming December meeting, but the emerging dissent has cast doubt on the likelihood of action. New economic data on inflation and employment may be crucial in resolving the debate. Another option under discussion is combining a December rate cut with revised forward guidance, raising thresholds for subsequent easing steps.
This split within the Federal Reserve adds uncertainty to markets, as traders weigh the impact of sustained high rates against expectations for future monetary policy easing. The outcome of this debate will be closely watched by investors assessing risk assets, including Bitcoin and other cryptocurrencies, which are sensitive to shifts in U.S. interest rates.
Neutral
Federal ReserveRate CutMonetary PolicyInflationMarket Uncertainty
In this crypto market roundup, the Federal Reserve faces unprecedented internal splits over a potential December rate cut, injecting uncertainty into global financial markets. On the DeFi front, Lighter’s total value locked (TVL) surged past $1.17 billion, overtaking Linea, while Sonic Labs unveiled a tiered fee monetization (FeeM) model and plans for a New York office. Smart contract risks emerged as GoPlus flagged unlimited minting vulnerabilities in the Hello 402 (H402) token. Large onchain movements included a new wallet’s 1,130 BTC inflow from FalconX and a 28,262 ETH transfer by a whale. Corporate activity saw VCI Global commit $100 million to OOB tokens, Coinbase set to list Allora (ALLO), and the cancellation of its $2 billion BVNK acquisition. The Bitwise Chainlink ETF (CLNK) appeared on DTCC listings, and SoFi launched direct crypto trading for BTC, ETH and SOL within its app. Tether is bolstering gold reserves by recruiting top bullion traders from HSBC, while Lido proposed automatic LDO/wstETH buybacks. Market outlook features MARA’s CEO warning miners to secure low-cost power or face exit by 2028, and ex-BlackRock exec Joseph Chalom hailing Ethereum’s role as financial infrastructure. Legal and security updates include the retrial of the MIT "sandwich attack" case, Zhimin Qian’s 11-plus–year sentence for Bitcoin laundering, and Willy Woo’s advice to migrate funds to SegWit addresses ahead of quantum threats.
Solana spot ETFs have attracted nearly $600 million in assets since launch, logging net inflows for 10 consecutive days. Last week, the funds recorded $6.8 million in weekly net inflows. Bitwise’s BSOL led with $5.9 million, while Grayscale’s GSOL added $0.9 million. Overall AUM now stands at $598 million and the net asset ratio is 0.64%. Derivatives open interest remains steady at $3.4 billion and funding rates average -0.0009, indicating balanced market sentiment. SOL trades around $165, down about 1–2.3% in 24 hours, testing resistance at $170 and support at $160; a break below could target $150. On-chain metrics remain robust, with daily active addresses elevated. Strong spot demand and sustained ETF inflows highlight growing market maturity and suggest bullish momentum for SOL.
Bullish
Solana Spot ETFsNet InflowsDerivatives Open InterestOn-Chain MetricsMarket Maturity
On November 12, OKX reported the daily token performance on its exchange. CFX led the gainers, rising 2.36% to $0.100, followed by 1INCH (+0.57% at $0.213) and LEO (+0.23% at $9.254). Conversely, STRK was the biggest loser, dropping 11.31% to $0.143. Other notable decliners include CORE (-10.29% at $0.208), FET (-7.26% at $0.332), FIL (-6.52% at $2.25) and ICP (-5.92% at $6.227). Traders should note these token performance shifts when adjusting positions on OKX.
Crypto financing is evolving through new DeFi models that balance fairness, liquidity and credibility. Coinbase has completed a vertical integration by acquiring Echo for $400 million and Liquifi, creating an end-to-end stack from token creation and fundraising to secondary trading on its exchange. Each stage generates fee income, and the move builds trust with sceptical project founders.
Andre Cronje’s Flying Tulip introduces a perpetual put financing mechanism. Investors receive locked FT tokens at $0.10 with an on-chain perpetual put option to redeem their principal at any time. The raised $1 billion is deployed in low-risk DeFi strategies targeting 4% annual yield to fund operations and token buybacks. All tokens initially go to investors, with zero team allocation and deflationary buy-back triggers, aligning incentives and reducing token-price governance pressure.
MetaDAO leverages futarchy governance: funds sit in an on-chain treasury, and spending proposals are vetted by prediction markets. Token holders bet on each proposal’s value creation, and only approved transactions execute. Umbra Privacy’s $150 million commitment, with team tokens locked behind milestones, exemplifies the transparency and accountability of this model.
These crypto financing experiments signal a shift in capital formation. Their success depends on execution, user adoption and resilience under market pressure.
Binance has announced that its Binance Live streaming platform will cease operations on December 31, 2025. Users will lose access via web and app from January 1, 2026 at 07:59 (UTC+8). All existing points, gifts, and vouchers on Binance Live will expire after the shutdown. Eligible streamers who host at least one session by December 1, 2025 at 08:00 (UTC+8) will receive automatic access to Binance Plaza live streaming; Binance Plaza will handle all future streaming services uninterrupted. Traders and content creators should redeem any points or vouchers before the deadline to avoid losses. The transition aims to consolidate live streaming under Binance Plaza and improve content delivery.
Gold posted a 2.85% gain on November 10, adding about $765 billion to its global market value. This surge lifted gold’s market capitalization to roughly $28.62 trillion. Over the same period, XRP price rose 6.76%, translating to a $9.6 billion increase and pushing XRP’s market value to about $151.8 billion. Extrapolating gold’s daily gain to XRP suggests that a $765 billion inflow could boost XRP’s market cap to $911.88 billion and lift the XRP price to approximately $15.20 per token. Several analysts have cited $15 as a long-term target for XRP under optimistic conditions. While such a one-day surge remains highly unlikely, this comparison highlights how large-scale liquidity shifts can dramatically affect digital-asset valuations. The exercise underscores the relationship between market capitalization changes and token pricing.