The cryptocurrency market lost $150 billion in the past 24 hours, with total capitalization declining from $3.10 trillion to $2.95 trillion. Bitcoin fell 5.07% to around $86,709, while Ethereum dropped 5.67% to $2,837. The selloff coincided with Japanese 2-year government bond yields rising above 1% for the first time since 2008, signaling expectations of a Bank of Japan rate increase.

Bitcoin dropped over 5% in 24 hours to fall below $86,000 on December 1, 2025, briefly touching $85,000 before recovering slightly. The selloff was triggered by Bank of Japan Governor Kazuo Ueda's comments on potential interest rate hikes and a security breach at Yearn Finance protocol. The decline erased approximately $140 billion from total cryptocurrency market capitalization, with leveraged position liquidations reaching $500 million, data show.

Cryptocurrency markets posted their steepest monthly decline since February, with centralized exchange trading volumes falling to $1.59 trillion. U.S. spot Bitcoin ETFs recorded $3.48 billion in net outflows during November. Bitcoin dropped below $86,000 on December 1, triggering over $564 million in long position liquidations amid Bank of Japan rate hike speculation.

Sony Bank will introduce a U.S. dollar-pegged stablecoin for American customers starting in fiscal 2026, Nikkei reported. The Sony banking unit plans to deploy the 1:1 USD stablecoin for payment and settlement operations across its gaming and anime divisions. The move could reduce credit card processing fees for customer subscriptions.

Bitcoin faces rejection between $91,000 and $93,000 after bouncing from $80,000–$83,000 support. Data show heavy supply near $96,000–$97,000, where short-term and medium-term holder cost bases converge. Technical indicators point to a sell bias unless BTC breaks above the declining trendline and clears $97,000.

HashKey Holdings received approval from the Hong Kong Stock Exchange on December 1 to proceed with its initial public offering. The firm operates Hong Kong's largest licensed cryptocurrency exchange and holds regulatory permits allowing it to serve both institutional and retail clients. The company reported a net loss of HK$506 million in the first half of 2025, despite handling over three quarters of the region's onshore digital asset trading volume in 2024.

Ripple Markets APAC Pte. Ltd. received an expanded Major Payment Institution license from the Monetary Authority of Singapore on December 1, 2025. The approval authorizes digital payment token services, cross-border transfers, and domestic money transfers. Ripple can now offer end-to-end payment solutions—including custody, swapping, and settlement in RLUSD or XRP—through a single API integration.

XRP futures open interest declined from 1.7 billion XRP in early October to 0.7 billion XRP by late November, a 59% reduction representing approximately one billion XRP in closed or liquidated derivative contracts. Funding rates dropped from around 0.01% to 0.001% on a seven-day moving average, indicating a shift from aggressive long positioning to near-neutral market sentiment. The deleveraging occurred as 58.5% of XRP supply remained in profit as of November 17, the lowest proportion since November 2024 when price stood at $0.53.