Trading

Ethereum fell below $3,000 on Sunday, declining toward $2,800 and intensifying market pressure. Data show whale wallet 0xdECF transferred 5,000 ETH—approximately $15.05 million—to Binance. Since October 28, the wallet has moved 25,603 ETH to exchanges, totaling roughly $85.44 million, while retaining 10,000 ETH worth around $30.34 million.

Bitcoin fell nearly 6% to trade around $85,000, extending losses from an October peak near $125,000. The Crypto Fear and Greed Index registered near 20, reflecting extreme fear as central bank communications tightened financial conditions. More than $637 million in long positions were liquidated during the decline.

Decentralized exchange SushiSwap announced a leadership transition on December 1, with Synthesis founder Alex McCurry purchasing over 10 million SUSHI tokens worth approximately $3.34 million and assuming operational control. Outgoing CEO Jared Grey, who led the protocol for three years through regulatory scrutiny and governance disputes, will transition to an advisory role. The platform described the change as part of positioning for expansion, citing profitability goals and product development plans.

Binance users purchased 6,870 BTC valued at approximately $628 million when Bitcoin traded above $91,400, while long-term holders reduced positions, data show. Short-term holder realized cap hit $51 billion on November 23, the highest since December 2024, as long-term holder realized cap fell by $47 billion. The pattern has preceded market corrections in December 2024 and March 2024.

XRP is trading at $2.02 after declining 7% in 24 hours, with $3.8 billion in volume. Analysts identify a Wyckoff reaccumulation structure placing the asset in Phase C, where support near $2.05 and the 20-month exponential moving average at $1.94 remain intact.

BitMine Immersion Technologies purchased 96,798 ETH last week, expanding total holdings to 3.73 million ETH valued at approximately $10.5 billion. The acquisition occurred as Ethereum declined 6% overnight to just above $2,800, while BitMine shares fell over 11%. The company cited the upcoming Fusaka upgrade scheduled for Dec. 3 as a catalyst for accelerated purchases.

Michael Saylor posted a cryptic message on X referencing "green dots" alongside Strategy's bitcoin holdings and equity guidance charts, after the company's market net asset value fell below 1.0x this week. Strategy's published guidance states that when mNAV falls below 1.0x, the firm will "consider issuing credit to repurchase MSTR," prompting speculation the company may shift from bitcoin purchases to share buybacks. Analysts identify $180 as a critical resistance level for MSTR shares, which are currently testing support near $170 following a sharp decline.

Chicago-based exchange Bitnomial has secured regulatory approval from the Commodity Futures Trading Commission to launch spot cryptocurrency trading. The platform becomes the first U.S. derivatives exchange authorized to offer regulated spot crypto products, with services including retail leveraged trading capabilities. CFTC Acting Chair Caroline Pham indicated new products are expected to commence trading before year-end, with the platform's full launch scheduled for November 2025.

Chief investment officers from major financial firms argue the Bitcoin cycle remains intact despite recent market turbulence. BTC could resume its upward trajectory toward $160,000 unless it falls below the March 2024 all-time high of $74,000, according to industry executives.

Bitcoin's rally halted at the $92,000 resistance level, failing to break through despite a brief rebound. Market data show weakening momentum, with ETF inflows subdued and implied volatility dropping to cycle lows. Analysts expect the asset to trade between $70,000 and $100,000 through year-end.