Digital asset investment products recorded $1.07 billion in net inflows for the week, ending a four-week outflow streak that totaled $5.7 billion, according to CoinShares data. Bitcoin products attracted $464 million while XRP set a weekly record with $289 million. Ethereum contributed $309.1 million to the recovery. The United States accounted for 93% of global inflows at $994 million.

Silver touched a record near $57.86 and has gained over 100% this year, while gold climbed above $4,240 per ounce. Bitcoin has declined more than 30% from its October peak near $126,000 and currently trades around $86,000, with crypto markets losing approximately $1 trillion in value over six weeks.

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.

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.

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.

HashKey Holdings Limited has passed the Hong Kong Stock Exchange listing hearing, moving closer to a public offering. The operator of Hong Kong's largest licensed crypto exchange disclosed the regulatory approval in its Post Hearing Information Pack on December 1, 2025. The company plans to use IPO proceeds to expand its technology infrastructure, product offerings, and international operations.

Venture capital investors attribute the recent digital asset downturn to two primary factors: the October 10 liquidation event and worsening macroeconomic conditions. Key market stabilization signals include Federal Reserve policy clarity, consistent economic data releases, and sustained capital inflows into cryptocurrency investment products. Several investors note improving risk-reward ratios as valuations for revenue-generating tokens have reset to 2024 levels despite stronger fundamental metrics.

Tether CEO Paolo Ardoino rejected S&P Global's downgrade of USDT's dollar-peg rating to "weak" on November 26, calling the assessment outdated and incomplete. Ardoino said the agency overlooked Tether's $7 billion excess equity, $184.5 billion in reserves, and $500 million monthly Treasury income. S&P cited increasing allocations to high-risk assets including Bitcoin, precious metals, corporate bonds, and secured loans as the basis for lowering the rating from level 4 to level 5.