Pressure Returns

DAILY MARKET OVERVIEW

The Relief Fades

👋 Hey, Crypto Enthusiasts! This week began with a very sharp drop, let’s explore what happened.

Last week offered a pocket of relief. With US holidays slowing trading activity, markets drifted upward into Sunday, steady and almost sleepy. But the new week didn’t share the same mood. Pressure returned fast.

In the past 24 hours more than $700 million in long positions have been liquidated after a sharp drop rippled across markets.

So what triggered the slide?

🇯🇵 A large part of the shock likely came from Japan.

Japan’s ten-year bond yield suddenly jumped to its highest level since 2008, and that was felt in the markets today. For decades Japan acted as the world’s low-cost funding well, keeping interest rates near zero and making the yen a cheap borrowing currency. Investors tapped that inexpensive capital and poured it into higher-yielding assets worldwide.

Now, with Japanese yields rising meaningfully, domestic bonds finally offer attractive returns. That gives investors a compelling reason to pull money back home instead of deploying it abroad. Liquidity leaves global markets just as the US is issuing record amounts of new debt, tightening conditions even further.

With funding costs rising and large players unwinding positions, risk assets sold off quickly. Crypto, positioned at the far end of the risk spectrum, felt the blow first.

⚠️ Additional worries haven’t helped: signs of sticky inflation from Black Friday data and speculation that Strategy may need to sell BTC if its mNAv dips below 1 are adding weight to sentiment.

🔻 After last week’s brief relief, the landscape has darkened again, and BTC testing $75k is a real possibility.

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SOCIAL SENTIMENT

Current Sentiment

Market sentiment is still shaky and leaning bearish, and the latest ETF and volume data leaves little room for doubt.

Spot Bitcoin ETFs saw $3.4B in outflows in November, the largest since February. Ether ETFs lost $1.4B, their biggest monthly outflow on record.

Blackrock’s IBIT alone bled $2.3B, including a $523M single day hit. The flows look like profit taking and year end positioning, yet they highlight how quickly institutions are stepping back at elevated valuations.

Trading activity confirms the slowdown.

• CEX spot volume fell 26.7% to $1.59T, the weakest since June.

• DEX volume dropped to $397.78B from $568.43B.

Liquidity has thinned, bullish momentum has collapsed and both sides of the market are operating with reduced conviction.

Overall sentiment remains fragile. With ETF flows negative and activity across exchanges fading, traders are treating every setup with caution and waiting for a stronger signal before committing risk.

NEWS OVERVIEW

The Latest Crypto Headlines 📰 

Visa expands stablecoin settlement across Europe, Middle East, and Africa
Visa partnered with Aquanow to enable regional institutions to settle transactions in stablecoins, extending its rapidly growing onchain settlement network.

China warns of stablecoin risks as it reaffirms crypto ban
China’s central bank doubled down on its crypto ban and highlighted AML and financial stability concerns tied to stablecoins after a multi agency meeting.

Sony Bank plans USD stablecoin for games and anime
Sony Bank is preparing to launch a U.S. dollar stablecoin for digital content payments, partnering with Bastion and applying for a U.S. banking license.

HashKey moves closer to Hong Kong IPO
HashKey cleared a key HKEX listing hearing and is preparing its IPO roadmap to fund technology upgrades, security improvements, and expansion efforts.

YOUTUBE INFLUENCER SUMMARY

Summary From The Top Influencers 📷️ 

Benjamin Cowen – Bitcoin and the End of Quantitative Tightening (01.12.2025 Summary)

Benjamin Cowen dives into how the end of Quantitative Tightening (QT) might affect Bitcoin, drawing parallels to the 2019 market cycle. He argues that investors expecting a sudden rally may be disappointed.

Key Points:

• QT officially ends December 1, but Cowen stresses that a balance sheet increase may lag by weeks or even months.

• In 2019, Bitcoin topped before QT ended, and the market bled slowly despite the start of Quantitative Easing (QE).

• Bitcoin’s current decline mirrors past bear markets, and Cowen believes we’re already in one, with potential relief rallies before further downside.

• He expects Bitcoin to follow a 2019-style structure: continued weakness, counter-trend rallies, and a mid-2026 bottom.

• Interest rate cuts and liquidity injections may eventually help, but not immediately. Cowen warns that ETF inflows and macro hopes won’t save altcoins in the near term.

• Bitcoin dominance may continue to rise as alts bleed further.

• He encourages patience, arguing bear markets bring long-term opportunity, not just pain.

Final Takeaway:
Cowen believes the market is repeating 2019’s playbook. QT ending won’t immediately reverse Bitcoin’s downtrend, and investors should prepare for a grind through 2026 rather than a quick return to all-time highs.

Altcoin Daily – "People Don't Know What's Coming" (01.12.2025 Summary)

Altcoin Daily explores recent bullish signals for Bitcoin, including Elon Musk’s endorsement, Michael Saylor’s cryptic teaser, and major institutions preparing to onboard crypto in size.

Key Points:

• Elon Musk on Bitcoin: Musk calls Bitcoin a “currency of energy,” reinforcing the idea that BTC is backed by real-world value and energy scarcity, unlike fiat.

• Michael Saylor’s Hint: Saylor teased a potential new type of “green dot” announcement, possibly hinting at MicroStrategy stock buybacks or an additional BTC strategy.

• Gold vs Bitcoin: With gold hitting new all-time highs and Saudi Arabia discovering new reserves, Bitcoin’s fixed supply is contrasted as superior. Altcoin Daily emphasizes Bitcoin’s 0% inflation rate compared to gold’s ~2%.

• Institutional Adoption: US Bank Corp. (a $700B firm) is launching Bitcoin custody for high-net-worth clients. Altcoin Daily argues that major institutions are preparing to enter the market.

• Ethereum & Binance Updates: Ethereum’s “Fusaka” upgrade will improve base-layer scalability, and Binance’s reserves remain near all-time highs, confirming its dominant market position.

Final Takeaway:
Altcoin Daily sees the early stages of a major institutional push into Bitcoin. With endorsements from Musk, infrastructure from giants like US Bank, and Saylor teasing new moves, the stage is being set for a strong next phase.

CRYPTO MEMES

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