Texas established the first U.S. state strategic Bitcoin reserve with an initial $10 million allocation. On November 20, the state purchased $5 million worth of BlackRock's iShares Bitcoin Trust at $87,000 per BTC. The remaining $5 million has been reserved for future acquisitions.

Strategy (MSTR) could face approximately $8 billion in selling pressure if MSCI proceeds with index removal, according to TD Cowen analysis. The investment firm estimates $2.5 billion stems from direct MSCI holdings, with another $5.5 billion potentially at risk from other indexes. MSCI's review questions whether Bitcoin treasury companies qualify as operating entities for index inclusion.

Hyperliquid's team unstaked 10 million HYPE tokens worth $316 million ahead of a November 29 unlock event. The unlock represents 3.6% of circulating supply designated for founders and team members. Market participants show divided sentiment, with options data pointing to institutional hedging at $28 while exchange outflows suggest accumulation by retail holders.

Digital asset treasury companies face heightened scrutiny following a $45 billion contraction in crypto holdings during the fourth quarter. Industry participants defend the sector against claims of creating market selling pressure, with major treasury operators showing no evidence of liquidating positions despite holdings falling from $140 billion to $97 billion.

Solana introduced SIMD-0411, a proposal to increase the network's disinflation rate from 15% to 30% annually. The plan would reduce inflation from 4.5% to approximately 1.5% over three years, potentially removing 22.3 million SOL from the inflation schedule over six years. Community members have raised concerns about short-term impacts on DeFi yields, while supporters argue the measure could reduce selling pressure from stakers.

Bitcoin traded above $90,000 on November 18 after briefly touching $89,200, as markets await the delayed September employment report due November 20. The jobs data will shape Federal Reserve rate expectations for December, with current pricing showing roughly equal odds for a 25 basis point cut or a pause. On-chain metrics indicate miner net buying and short-term holder capitulation at $427 million daily, levels historically associated with market bottoms.

The defunct Mt. Gox exchange transferred 10,600 BTC valued at $953 million from a cold wallet to a new address and sold 185.5 BTC worth $16.8 million through Kraken. The transactions mark the first major wallet activity in eight months. Mt. Gox currently holds 34,600 BTC worth $3.14 billion after distributing most of its holdings since creditor repayments began in July 2024.

U.S. spot Ethereum ETFs recorded $1.42 billion in outflows during November, the largest monthly withdrawal since their 2024 launch, data show. Treasury firm BitMine Immersion purchased 54,000 ETH worth approximately $173 million during the same period. ETH has maintained support above $3,000 for four consecutive days despite the institutional selling pressure.

Digital asset treasury firms holding Solana have seen their valuations decline 40% as SOL dropped from $253 to $135. DFDV's CIO Parker White views the correction as an accumulation opportunity. White projects SOL could reach $10,000 over the next decade as digital value transfer expands globally.