Bitcoin is testing the $100,000 level amid structural market pressure. The Growth Rate Difference metric has turned negative at -0.00095, showing market capitalization is declining faster than realized value, data show. The cryptocurrency traded near $92,000 at the time of analysis, with support zones identified between $85,000 and $87,000.

Ripple's XRP token saw social media sentiment reach its most negative level since October, according to social analytics platform Santiment. The deteriorating sentiment coincides with a 31% price decline over two months. However, spot XRP ETFs recorded 13 consecutive days of net inflows totaling nearly $900 million since mid-November.

Bitcoin has recovered above $93,000 after recent declines, with the Coinbase Premium Index returning to positive readings. The shift signals renewed buying activity from U.S. institutional investors following a negative premium period through November. Analysts point to changing investor behavior patterns, particularly among regulated institutional participants.

Digital Asset Treasuries acquired 370,000 ETH in November 2025, an 81% decline from August's peak of 1.9 million ETH, according to Bitwise data. The contraction reflects weakening institutional demand driven by deteriorating market conditions and declining treasury company valuations. Certain firms continue expanding holdings despite the broader pullback.

Ethereum activated the Fusaka hard fork on December 3, 2025, at 21:49 UTC, deploying Peer Data Availability Sampling (PeerDAS) to enhance network scalability. The upgrade enables up to 8x data throughput for Layer 2 rollups. Transaction fees on Layer 2 platforms are projected to decrease by 40–60%.

Strategy (MSTR) holds Bitcoin valued at approximately $60.4 billion as of December 3, while its market capitalization stands at $50.7 billion. The discount means investors can acquire the company's cryptocurrency holdings below market value, with its software operations effectively priced at a negative figure. After adjusting for $8.2 billion in debt, net Bitcoin holdings remain valued at roughly $48.6 billion, according to financial commentary platform The Kobeissi Letter.

Bitcoin dropped below $84,000 on December 1, pulling total crypto market capitalization under $3 trillion, according to CoinGecko data. The decline occurred as traditional equities, gold, and other risk assets hit consecutive peaks. Analysts point to structural factors including exhausted crypto-native capital and limited institutional inflows, despite favorable macroeconomic conditions such as anticipated Federal Reserve rate cuts and strong corporate earnings.

Strategy's Bitcoin treasury implies a valuation 78% higher than MSTR's current share price, according to CryptoQuant analyst Carmelo Alemán. The stock has entered a historical undervaluation zone based on price band metrics. The company continues accumulating BTC at an average cost of $74,432 per coin.

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.