Bitcoin dropped nearly 5% to below $87,000 during early Asian trading on December 1, erasing approximately $150 billion from total crypto market capitalization. The decline was driven by surging Japanese government bond yields, which triggered broad risk-off sentiment amid exceptionally thin trading volumes. The 10-year Japanese government bond yield climbed to 1.84%, its highest level since April 2008, leading markets to price in a potential Bank of Japan rate hike in mid-December.

A House Judiciary Committee staff report alleges President Donald Trump's cryptocurrency portfolio may be valued as high as $11.6 billion, with over $800 million in crypto asset sales income recorded in the first half of 2025. The document raises concerns about potential conflicts of interest stemming from holdings in World Liberty Financial and the TRUMP memecoin. The report suggests existing federal ethics frameworks may not adequately address structural conflicts created by these holdings.

Nasdaq's International Securities Exchange filed a proposal with the SEC on November 26 to increase the position limit for BlackRock's iShares Bitcoin Trust options from 250,000 to one million contracts. The exchange stated the current cap restricts institutional hedging strategies. IBIT's market capitalization now ranks it among the largest US-listed products.

Bitcoin rose 5% to exceed $90,000 on November 27 while Ethereum cleared $3,000, marking a reversal after a month of declines. The rally followed renewed liquidity as US government operations resumed, with the Treasury General Account holding $892 billion—roughly $292 billion above its historical baseline. Analysts expect excess Treasury cash to flow into markets as the balance normalizes in coming weeks.

Bitcoin's network computing power has exceeded one zettahash for the first time, yet miner revenue per petahash has fallen to a record low near $34.20. Mining difficulty decreased approximately 2% to 149.30 trillion at block height 925,344 on November 27, marking the second consecutive monthly decline. Operations using hardware with efficiency below 30 joules per terahash now require power costs under 5 cents per kilowatt-hour to break even, according to Digital Mining Solution.

S&P Global assigned USDT a stability score of 5 on November 26, the lowest rating in its stablecoin assessment framework. The agency cited concerns over reserve composition, including approximately $10 billion in Bitcoin holdings and around $15 billion in secured loans. Despite the downgrade, USDT's market capitalization exceeded $184 billion, reaching an all-time high.

Strategy Inc., formerly MicroStrategy, accumulated roughly 641,000 BTC through $21 billion in capital raises during 2025 but remains barred from S&P 500 inclusion due to earnings volatility. The firm's institutional ownership declined by $5.38 billion as dilution concerns and Bitcoin-linked profit swings deterred large investors. Strategy transferred approximately 58,000 BTC valued at $5.1 billion to Fidelity Digital Assets to diversify custody arrangements.

A major institutional player executed a $2 billion Bitcoin options strategy on Deribit, positioning for a recovery toward six-figure price levels. The trade structure suggests conviction that recent market liquidations have cleared the path for upward movement. Retail investors continue selling while larger holders accumulate.

U.S. spot XRP exchange-traded funds have attracted approximately $587 million in net inflows across fewer than 10 trading sessions, data show. The figure exceeds the roughly $568 million accumulated by Solana ETFs over 20 consecutive days since their October 28 launch. Grayscale and Franklin Templeton products contributed around $164 million in a single session on November 24.