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The graph painfully illustrates that XRP is on the verge of a collapse. As momentum continues to deteriorate, and every attempt to regain lost ground is met with aggressive selling, the asset is now pushing against the lower boundary of its descending channel for the third time. This is XRP’s last chance to prevent a sharp decline toward the $1.00 region.

The 50-day, 100-day and 200-day moving averages are all sloping downward and stacking into a dense resistance block above $2.40-$2.60. The price has repeatedly failed to break above this cluster of moving averages. This is precisely the type of framework that stifles attempts at recovery.

XRP has not even been able to sustain its short-term rebounds. XRP is currently positioned slightly above its channel’s lower trendline. Losing this level eliminates the only remaining technical justification for short-term stabilization, in addition to breaking the structure. Price action nearly always quickens downward after the channel fails, because there is no longer any intermediate support.

The gap below it is significant for XRP, and the next major historical demand zone does not emerge until the $1.40-$1.20 range. Even $1.00 becomes a realistic magnet if sentiment continues to decline.

An increase in volatility should be expected by investors. Either the structure collapses and the market finally flushes out long-held positions, or XRP holds this channel and delivers a short-term bounce, possibly its final chance to reclaim the $2.30 midpoint.

The issue is that nothing on the chart points to strength: momentum indicators are hovering close to breakdown levels, volume is muted and there are no tailwinds in the overall market.

Bitcoin needs one move

Bitcoin is getting close to one of those situations where a single breakout could completely alter the course of the market. Following weeks of severe selling, and a strong decline into the mid-$80,000 range, Bitcoin has now stabilized and is making its way back to a crucial decision zone.

The chart has a distinct structure, with a coiled setup that typically precedes an impulsive move, a slowdown into resistance and a sharp recovery off the lows. The simple key level is the $94,000-$96,000 band. This is where the last unsuccessful rally stalled, declining moving averages converged and previous support became resistance. Additionally, it is the barrier that prevents Bitcoin from moving forward in a meaningful way.

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The next stage will be a rapid expansion move toward six figures, rather than a slow upward trend, if Bitcoin can break through this block with high volume. The reasoning is straightforward: structural resistance is minimal above $96,000 until the psychological and liquidity-heavy $100,000 zone.

The market has repeatedly tested the trend’s underside, and each attempt at a recovery has been accompanied by higher volume and more aggressive buying. This indicates that buyers are not worn out and are instead waiting for a sign that the downward trend has ended.

Shiba Inu in danger

The chart makes it very evident that there is an imbalance between bearish pressure and bullish hope, and Shiba Inu is once again in a precarious position. What’s happening is not a comeback in the hopeful sense that investors typically desire; it is the opposite. Instead of a recovery rally, SHIB is perilously close to making a comeback to the bottom.

The pattern of shallow bounces, followed by deeper lows, all beneath a thick stack of declining moving averages, has been repeated in price action over the past few weeks. Any short-term rally is immediately met with layered resistance, because the 50-day, 100-day and 200-day MAs are aligned in a sharp downtrend. Simply put, SHIB lacks the momentum to overcome these barriers, which already tilts the likelihood downward.

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Another clue is volume. The recent spikes were reactive moves, primarily caused by short-term traders attempting to capture volatility rather than accumulation. Volume has since decreased once more, which is problematic on a bearish market. Low-volume bounces frequently occur before subsequent breakdowns and seldom result in long-lasting reversals.

From a structural perspective, SHIB remains below all significant trendlines. The asset made a brief attempt to rise above the closest moving-average cluster, but it was swiftly rejected. Due to that failure, it returns to a declining structure that has consistently produced lower lows since August.

The chart opens the door to revisiting the year’s bottom if the thin thread holding SHIB above the next support zone, which is located roughly in the mid-$0.0000080's, breaks.

Here, investors should not anticipate a typical reversal. Unless there is an exceptionally strong spike in demand, which is not evident in current market conditions, SHIB’s setup favors the continuation of the downtrend.

Ethereum co-founder Vitalik Buterin recently took to the X social media network to advocate for stronger cryptography standards.

Buterin has calculated that Bitcoin's cumulative proof-of-work (the sum of all computational effort expended on mining) stands at roughly 2^96 hashes based on recent difficulty data. This marks a significant computational milestone equivalent to 96 bits of security.

Buterin has credited Ethereum researcher Justin Drake for advocating 128-bit security levels (as seen in proposals like BLS12-381 curves and the Lean Ethereum roadmap). This would make it possible to future-proof against growing hash power.

Staying ahead

Bitcoin secures itself via the proof-of-work (PoW) consensus algorithm, which secures the network by requiring miners to perform billions of SHA-256 hashes to find valid blocks.

The cumulative PoW represents the total "energy barrier" an attacker would need to overcome to rewrite history.

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Reaching 2^96 total hashes means Bitcoin's chain is now protected by the equivalent of ~96 bits of brute-force security. This, of course, is an enormous amount of real-world computation.

Buterin has used this specific milestone to argue that cryptographic primitives across the industry should target at least ~128-bit security levels. In such a way, they would be able to stay comfortably ahead of growing computational power.

Many older crypto systems effectively provide only ~128 bits of security against certain attacks, which could make them potentially vulnerable.

XRP longs suffer 1,694,200% liquidation imbalance after minor price dip

A small 1.43% dip in the price of XRPwas enough to blow up long positions and print a wild 1,694,200% liquidation imbalance in just one hour.

XRP price drop. A mild 1.43% XRP price drop triggered a massive long-side wipeout, creating a 1,694,200% liquidation imbalance in a single hour.

A small 1.43% dip in the price of XRP was enough to blow up long positions and print a wild 1,694,200% liquidation imbalance in just one hour, showing how euphoric bullish traders became on the bounce.

Despite the overall uptick in the price, the cryptocurrency market remains in a fragile state, as evidenced by the Fear & Greed Index, which currently sits at 27 — fear. The derivatives market, especially the liquidation heatmap, is perhaps the best indicator of what is happening in crypto right now. CoinGlass's heatmap recently demonstrated the pitfalls of positioning, with XRP emerging as a stark example.

XRP bulls take hit. Long positions accounted for nearly all losses

Over that hour, the total liquidated leveraged positions on XRP derivatives amounted to $169,430, which is not a large sum compared to the $4.52 million liquidated overall during this period. However, the breakdown is astonishing: less than $10 came from liquidated shorts, and longs lost every other cent. That is an imbalance worth 1,694,200% printed in just the last hour.

Ethereum sees 23% of network go offline after Prysm client bug

A bug in an Ethereum consensus client on the mainnetcaused approximately 23% of the Ethereum network to go offline.

ETH outage. A bug in the Prysm consensus client caused roughly 23% of the Ethereum network to go offline early Thursday.

An issue with the Prysm consensus client on mainnet saw about 23% of the Ethereum network going offline. In the early hours of Thursday, the Ethereum Foundation alerted the community about an issue with the Prysm consensus client on mainnet, urging node operators to reconfigure their CL nodes. This only affected those utilizing Prysm clients, with other network clients unaffected.

In a confirmation tweet, Ethereum client Prysm stated that it had identified the issue and promised a quick workaround. It urged dependent nodes to disable the Prysm client. Commenting on the data presented, Sassal noted it was accurate, with about 23% of the network going offline due to a bug with Prysm.

Buterin’s response. Vitalik Buterin addressed concerns, saying occasional loss of finality is not alarming and explained that finality only matters for ensuring blocks cannot be reverted.

Ethereum creator Vitalik Buterin weighed in on the discussion, dispelling such fears. "Nothing wrong with losing finalization once in a while imo," Buterin said.

The Ethereum creator shed further light on the context of finalization, saying: "Finalization is for when we're really sure a block won't be reverted." Buterin puts to rest concerns regarding the Prysm incident, saying, "If finality delays a few hours when a major client has a bug, that's fine. The chain keeps going during that time. The thing to avoid is finalizing the wrong thing."

Bitcoin whales withdraw over 2,000 BTC from Binance

Bitcoin remains on the upside as whalescontinue to move tokens in major buy attempts.

New BTC buys. Whale Alert tracked two major withdrawals on Dec. 5 from Binance totaling 2,000+ BTC, worth $185.16 million.

After the rapid price resurgence witnessed in the last few days, Bitcoin has slowed down on its daily price surge but has retained its position on the upside. While these positive movements have seen the Bitcoin ecosystem witness soaring optimism, whales have continued to scoop up the token amid rising demand from retail and institutional investors.

On Thursday, December 5, on-chain tracking platform Whale Alert identified massive Bitcoin withdrawals involving over 2,000 BTC, in suspected large buying activities from the world’s largest cryptocurrency exchange, Binance.

According to data provided by the tracker, the Bitcoin transfers, which happened in two separate transactions in batches of 1,000 BTC each, were worth a combined total of $185,165,469.

Bullish sign. These movements are being interpreted as large-scale buying activity rather than routine outflows.

The move, which has come at a time when Bitcoin has continued to see strong daily gains, has sparked interest across the market, signaling renewed optimism and shifting stances on Bitcoin’s long-term price outlook.

With the large Bitcoin withdrawals from Binance coinciding with the crypto market’s positive momentum, it appears that whale activities are growing, and it has contributed significantly to the asset’s price resurgence.

Mike McGlone, chief commodity strategist at Bloomberg Intelligence, has opined that Bitcoin might be the leading indicator of the next recession.

He argues that some asset-price signals (gold at record highs, falling Treasury yields, rebounding equity volatility) look like early warning signs historically associated with major economic reset events.

Bitcoin is a high-beta risk asset whose price reacts quickly to changes in global risk sentiment. If the flagship cryptocurrency starts to fall sharply, it may be an early market signal that leverage is unwinding.

$10,000 price target

McGlone has maintained a consistently bearish outlook on Bitcoin throughout the past two months. He argues that Bitcoin's sharp decline from its 2025 peaks indicates the onset of post-inflation deflationary pressures.

This is a similar pattern to the one that was observed in 2007 when the Federal Reserve began easing rates, only for markets to eventually crater.

McGlone frequently points to Bitcoin's tendency toward mean reversion. He has predicted that the cryptocurrency could revisit the $50,000 level, potentially plunging even lower toward $10,000 in a more severe scenario.

He has been consistently bullish on gold. The yellow metal has managed to shine in 2025 while Bitcoin, crude oil, and other risk assets have faltered.

Late-stage bull market

McGlone contends that the crypto's maturation and ETF inflows mark a late-stage bull market peak akin to dot-com excesses. He believes that the S&P 500 could record its third down year since 2008. The analyst has predicted possible trajectories toward 5,000 for the index alongside $50,000 Bitcoin in 2026.

Anthony Scaramucci, a renowned crypto investor and SkyBridge founder, has stirred debates across the crypto community after declaring that Bitcoin, Solana, and Avalanche are the future of blockchain infrastructure.

Bitcoin, @solana, and @avax are the future. Do you agree? ⬇️ pic.twitter.com/rJFRhkmtTo

— Anthony Scaramucci (@Scaramucci) December 5, 2025

The prominent crypto investor made his claims to CNBC during the latest Squawk Box event, when he expressed belief that the crypto ecosystem is about to step into a new era driven by tokenization, smarter financial infrastructure, and real-world adoption.

Scaramucci praises Solana for its speed

According to Scaramucci, as more assets spanning from real estate to equities to collectibles increasingly move on-chain in the near future, only crypto assets with the necessary infrastructure will be able to lead the market when the time comes.

He explained that Solana is one of the few blockchains that is adequately equipped to meet the demands of the market in the future due to its speed, reliance, and low transaction cost, thereby positioning it as a global standard for tokenized assets.

While he further emphasized Solana’s high throughput and consistency, Scaramucci expressed confidence that Solana is strongly built for lasting relevance rather than short-lived speculation.

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According to Scaramucci, the traditional and digital ecosystem is heading toward a world with three or four major blockchain networks which would lead the general space. Thus, he specifically mentioned that Bitcoin, Solana, and Avalanche are the ones he sees rising to such a level as the market matures.

Following his strong faith in the future prospects of Solana, Scaramucci further revealed that Solana makes up one of the largest portions of both SkyBridge’s and his personal portfolio. He noted that the firm invested early, just as it did with Bitcoin years ago.

Bulls have failed to hold the initiative until the end of the day, according to CoinStats.

SHIB/USD

The price of SHIB has dropped by 4.34% since yesterday.

On the hourly chart, the rate of SHIB might have set a local support of $0.00000831. If the daily candle closes far from that mark, one can expect a test of the $0.00000870 area by tomorrow.

On the longer time frame, the price of the meme coin is far from key levels. As none of the sides is dominating, ongoing sideways trading in the range of $0.00000840-$0.00000880 is the most likely scenario.

From the midterm point of view, the situation is similar.

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However, if the weekly bar closes near $0.000007, the accumulated energy might be enough for a level breakout, followed by a test of the $0.0000060 area.

SHIB is trading at $0.00000844 at press time.

The prices of most of the coins are falling today, according to CoinStats.

XRP/USD

The price of XRP has declined by 1.49% over the last 24 hours.

On the hourly chart, the rate of XRP is rising after a false breakout of the local support of $2.0575. If the daily candle closes near the resistance, traders may witness a blast to the $2.15 area.

On the longer time frame, the price of XRP is far from key levels.

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The rate is in the middle of the wide channel, between the support of $1.8209 and the resistance of $2.3034.

From the midterm point of view, the picture is similar, as neither buyers nor sellers are controlling the situation on the market. In this case, one should focus on the nearest area of $2. If the weekly bar closes near that mark, there is a high chance to see a test of the $1.80 zone soon.

XRP is trading at $2.0879 at press time.

The market is back to red on the last working day of the week, according to CoinMarketCap.

BTC/USD

The rate of Bitcoin (BTC) has declined by 2.62% over the last 24 hours.

On the hourly chart, the price of BTC is going down after setting a local resistance of $92,690. If bulls cannot seize the initiative, one can expect a further decline to the $89,000 area.

On the longer time frame, the rate of the main crypto has once again failed to fix above the $93,753 resistance.

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If the daily bar closes around the current prices or below, the correction is likely to continue to the $88,000-$89,000 range.

From the midterm point of view, the situation is less clear as the price of BTC is far from the key support and resistance levels. In addition, the volume has dropped, which means traders are unlikely to witness sharp moves anytime soon.

Bitcoin is trading at $90,226 at press time.

Bitcoin’s derivatives market experienced an extreme turnaround today as a sudden drop in price coincided with mounting macroeconomic tensions, resulting in a staggering 11,588% liquidation imbalance that took the trading community by surprise,according to CoinGlass.

The downturn began the moment Hassett stated that even 3% growth in the first and second quarters would be disappointing. BTC was trading around $90,500 before sliding down, revealing how crowded the long side had become before the macro hit.

The imbalance number shows how one-sided the wipeout was. For every $1 liquidated from shorts, more than $115 was lost from longs. This only happens when leverage is heavily stacked in one direction and confidence wanes suddenly.

More than $20 million in BTC long liquidations occurred in minutes, while shorts barely moved.Ethereum (ETH) and other major cryptocurrencies followed with softer hits, butBitcoin dominated every time frame on the heatmap.

Fear, uncertainty and doubts

The deeper driver was the macro backdrop. Markets are facing rising economic uncertainty at the same time that a potential new Fed head is signaling rate cuts. Rate cuts are normally bullish, in common sense, which is why traders often try to front-run them.

However, when the path to cuts is tied to uncertain data, shifting growth expectations and unclear demand strength, the bullish outlook is accompanied by anxiety rather than conviction. This makes leveraged players exit early, not because rate cuts are bad, but because the environment surrounding them is uncertain.

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Morgan Stanley's prediction of a 25-basis-point cut in December only intensified the tension. With liquidity low and longs stacked, the market did not wait for confirmation. This imbalance occurred because positioning cleared out the moment uncertainty outweighed comfort, not because of a failure inBitcoin’s price structure.

Michael Saylor, popular Bitcoin advocate and chairman of leading Bitcoin-focused investment firm Strategy, has expressed delight while issuing appraisals after meeting with Binance’s founder, Changpeng Zhao, for the first time ever.

The meeting, which happened in Dubai during the Binance Blockchain Week event, has made headlines in the crypto ecosystem, as it had brought together many high-profile personalities in the industry.

Saylor praises world's largest exchange

Shortly after the conclusion of the event, Michael Saylor took to X, issuing a brief remark on his meeting with Binance’s CZ, with the tag “Great Bitcoin Exchange.”

The Great Bitcoin Exchange pic.twitter.com/ONVN2ot0ni

— Michael Saylor (@saylor) December 5, 2025

Michael Saylor made the post, adding a photo featuring him alongside the Binance founder at Binance Blockchain Week. The post had immediately drawn the attention of the crypto community, with many users celebrating the symbolism behind the notable convergence of the crypto icons.

Notably, the meeting had earlier been publicly acknowledged by CZ himself shortly after Saylor delivered his speech at the event on December 4.

While both Saylor and CZ have been prominent figures within the cryptocurrency community for years, commentators have praised their meeting as a clear representation of the opposite ends of the crypto market dynamics. This is so because one is a renowned buyer of the leading cryptocurrency, while the other is publicly known for selling, describing their meeting as the “Great Exchange” Saylor was talking about.

Saylor describes Bitcoin's role in the evolving world economy

During his presentation at the event hosted by Binance, Saylor emphasized the role of Bitcoin in the world economy, noting that it has only just begun.

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While it is not a surprise that Saylor’s belief is firmly rooted in Bitcoin’s long-term prospect, he explained that Bitcoin is the foundation of economic markets. As such, leading tech giants like Google, Microsoft, and even the Navy’s spending power is no match for the Bitcoin trading power.

Furthermore, Saylor also gave a few highlights on Strategy’s ongoing Bitcoin strategy and has confirmed the firm’s resilience in continuing to accumulate Bitcoin regardless of the market conditions.

Cardano (ADA) is entering December with some solid stats,according to CryptoRank, that do not usually get talked about in all the crypto market noise — but they tend to matter when trying to predict the future. Its long-term return pattern shows one of the best December setups among the major altcoins, with a strong average gain of about +56.9% and a positive +3.7% median.

This unusual pairing points to both big upside bursts and a pretty reliable base case in the final month of the year.

Compared to Ethereum, which had a decent +6.38% December average but a weaker +4.33% median, or Bitcoin, where the average is around +7.92% and the median barely hits +0.89%, ADA shines not just because of its size but also because it is consistent across very different market conditions.

EvenXRP, which has a big +64% average but a negative median, shows a much more binary distribution. Cardano is the one that blends both the big-swing years and the stable baseline in a way that statistically makes a constructive December more likely.

Cardano (ADA) price chart reality

The price chart really drives the point home too.The Cardano price is sitting near the lower end of its 2025 range after a long compression cycle that erased the late-2024 spike and reset positioning. ADA usually does its best in the months after a market cools down, and December often marks the point where selling pressure slows down and speculation picks up again.

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There is no guarantee that this will reverse the trend, but the setup is simple. If the historical rhythm repeats and the macro conditions do not get worse, Cardano could easily be one of December's under-the-radar high performers.

Major crypto exchange Binance will suspend deposits and withdrawals of tokens on the Terra (LUNA) network on Dec. 8, 2025.

Binance will be taking this measure in order to support Terra (LUNA)'s network upgrade, which will take place at block height 18,660,000, or on Dec. 8 at 1:05 p.m. (UTC). This would also ensure the best user experience, Binance added.

The trading of tokens on the Terra (LUNA) network will not be affected, as users will still be able to trade. Deposits and withdrawals will be reopened once the upgraded network is deemed to be stable, however, this might not necessitate a further announcement.

The Terra Chain will be upgrading to v2.18 on Dec. 8, 2025. This chain upgrade contains important upgrades for blockchain stability and security. The upgrade also burns ASTRO tokens to restore proper IBC balances, an issue from the IBC Exploit.

What's happening?

Terra (LUNA) rose 23.15% in the last 24 hours to $0.08724, an outlier against the backdrop of the broader crypto market, which saw most cryptocurrencies trade in red and $298 million in liquidations.

The Terra token has been on the sidelines since its historic crash in 2022, which wiped out billions of dollars in value.

Terra Classic (LUNC) also mirrored this rise, up 50.11% in the last 24 hours to $0.00004183, with its 24 hour trading volume rising 948% to $117.24 million. Terra ClassicUSD (USTC) rose 23% weekly, with its 24-hour trading volume skyrocketing 1,254% to $19.29 million.

The Terra ecosystem launched the Terra 2.0 blockchain in May 2022, following the collapse of the original Terra network. The original LUNA coin was tied to the algorithmic stablecoin TerraUSD (UST), whose loss of its U.S. dollar peg in May 2022 led to a collapse in value across both tokens.

The new token created by a hard fork afterwards was named Terra (LUNA), while the original chain was renamed Terra Classic (LUNC) and the TerraUSD (UST) stablecoin renamed Terra ClassicUSD (USTC).

IOTA is celebrating its 10th anniversary by expanding its presence in the U.S. through a strategic partnership with BitGo, which is a famed custodian.

BitGo is known for providing regulated and insured custody services to institutions, exchanges, and enterprises. It offers storage and management for over 1,550 digital tokens.

This partnership makes IOTA more accessible to institutional investors who operate under strict regulatory and tax constraints. It provides the infrastructure needed for exchanges and market makers to offer IOTA in a secure, regulated environment.

BitGo’s services extend beyond custody to include trading, lending, borrowing, settlement, and programmable money solutions.

Uphold listing

Earlier this week, IOTA also became available on Uphold, a digital trading platform, for U.S. customers.

American traders will be able to buy, sell, and use IOTA.

IOTA will be able to booth both institutional and retail participation in the U.S.

Struggling project

IOTA's technical ambitions have not translated into strong developer or user adoption. The rollout of Rebased, which introduced such features as smart contracts and staking, was supposed to attract decentralized‑app (dApp) developers and increase ecosystem activity.

However, by mid‑2025, only a very small number of decentralized applications (dApps) had been deployed on IOTA, and the total value locked (TVL) in those has remained relatively low.

Low usage and developer inactivity limit the network’s utility.

It remains to be seen whether the OG altcoin will be able to revive its mojo.

The latest Max Pain readout fromCoinGlass finally provides a clear picture of where leveraged traders stand on XRP. The situation is more balanced than the social media drama usually suggests. The short side carries a larger dollar amount, with $12 million at the max-pain line of $2.28587.

However, that level is far from the current price.XRP is trading at around $2.07, so bears have a cushion of about 10% before they start to feel the heat. There is nothing urgent for them, just a clearly defined point they do not want the market to reach.

The long side has the opposite problem. Their max-pain marker sits nearly at the spot price, showing a distance of 0.91%. This means that any minor pullback, even within this slow range, will affect long exposure first.

It does not matter that bulls' money stack is not as large as the short side's — $7.59 million vs. $12 million — because the pressure is closer, and the market does not need a big move to test it.

$2.28 becomes real pressure line for XRP price

The chart tells the same story as the numbers on the board.XRP has been slipping aimlessly on the 12-hour time frame, forming a pattern that appears neutral but keeps both sides on edge.

If theXRP price increases and heads toward $2.20-$2.30, the short cluster will come into focus. Reaching $2.28 would be the first point at which bears would actually feel maximum risk, and not just theoretically.

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Until then, the setup remains split. Longs face immediate proximity risk, while shorts carry a larger payout zone higher up. The indicator does not pick a winner; it only shows which levels attract the most attention. For now, the real tension sits between the spot price and the $2.28 threshold.

In a recent tweet, the Dogecoin team reacted to an adoption milestone for the first and largest meme cryptocurrency, Dogecoin (DOGE).

According to reports, Buenos Aires' "BA Cripto" policy package allows residents and businesses to settle city taxes and administrative fees using cryptocurrencies, including Dogecoin.

Reacting to the report, Dogecoin official X account tweeted "Doge is everywhere."

doge is everywherehttps://t.co/KRVhwCG78l

— Dogecoin (@dogecoin) December 5, 2025

Buenos Aires continues to position itself as a crypto hub. In November this year, Binance announced it had signed a collaboration agreement with the government of the city to promote safe and responsible cryptocurrency adoption.

Part of the agreement is an awareness initiative, "Live Crypto in Your City," launched by Binance and the city to inform residents about how cryptocurrencies work and how they can be used securely. The campaign highlights practical use cases for digital assets, helping more citizens experience crypto as a tool for empowerment.

This week, Vanguard Group, the world’s second-largest asset manager, announced its decision to allow ETFs and mutual funds that primarily hold cryptocurrencies to be traded on its platform, reversing a longstanding position.

Dogecoin price

Dogecoin reversed a two-day rise on Dec. 4. The drop has entered its second day, with Dogecoin down 3.53% in the last 24 hours to $0.144 and down 4.25% weekly.

U.S. macroeconomic data and institutional developments influenced market sentiment and volatility at the start of the week. Vanguard opened access to crypto ETF trading for clients earlier this week, and Bank of America told institutional customers they may allocate 1%-4% of their portfolios to digital assets. The CME launched a VIX-style implied volatility index for Bitcoin futures, with other altcoins to follow.

However, momentum remains soft, with recovery attempts fading in a sign that liquidity is still thin above current levels.

Liquidation data reveals a total of $298 million over the past day across the crypto market, with nearly $218 million in long liquidations and $80.13 million in shorts.

Bitcoin has slowed down on its recent price rally and has moved back to the red zone, showing a brief price correction amid an unexpected shift in market sentiment.

This sudden drawdown in its price movement has triggered a massive rise in the asset’s realized losses, causing it to record the highest spike since late 2022.

The data, which was disclosed by crypto analytics platform Glassnode, has come at a time when panic and fear appear to be gradually returning to the market, sparking discussions across the crypto community.

Bitcoin's short-term holder (STH) sell-offs see dramatic rise

Notably, the on-chain data provided by the source further shows that the significant surge witnessed in the Bitcoin realized losses was accompanied by another massive increase in its short-term holder sell-offs.

As momentum appears to have briefly faded, investors who purchased BTC within the last 155 days have contributed largely to the rise in the realized losses.

The charts showcased by the analyst reveal that recent Bitcoin buyers capitulated aggressively as volatility returned, possibly as a cautionary move to hedge against further losses.

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While both increases in the asset’s realized losses and its STH sell-offs have coincided with the sharp decline in the price of Bitcoin from recent highs, the data suggests a dramatic shift in investors’ sentiments.

The move is not entirely a surprise, as historic reactions from short-term holders show that they are increasingly active during market drawdowns.

During such periods, short-term holders often sell their assets at losses when market momentum reverses. This time, the rapid surge in their sell-offs and realized losses has reached the high levels seen during the massive crash witnessed amid the late 2022 FTX collapse.

Bitcoin long-term holders (LTH) stay resilient

Unlike the short-term Bitcoin holders, the data further showed that long-term holders have remained unmoved by the brief price drawdown witnessed recently.

Despite the unexpected market turbulence, long-term holders have seen a very decent increase in their realized losses when compared with STHs.

Apparently, this is all thanks to the higher conviction exercised by seasoned holders and investors like Strategy, who have continued to accumulate and hold their assets through volatility rather than sell into fear.

With the seven-day mean exchange inflow metric surging +6,894.01%, Shiba Inu just recorded one of its biggest on-chain spikes in months. Such a move would not occur without significant subsurface pressure. Whether this is a bullish ignition signal or just another warning sign embedded in a downward trend is the question. As of right now, the evidence points more toward a structural warning than a recovery catalyst.

Shiba Inu stays in free-fall

Let’s start with the price action: SHIB is still falling beneath the 50, 100 and 200 critical moving averages, all of which are angled downward. Every attempt at a bounce is promptly sold into. The chart is still locked in a distinct downtrend with lower highs and lower lows. This structure indicates exhaustion rallies inside a dominant bearish channel rather than accumulation. Any upward movement is noise rather than a change in trend until SHIB recovers at least the 50-day EMA and breaks above the cluster around $0.00095-$0.00105.

The spike in on-chain flow verifies the issue. Generally speaking, a huge increase in inflow indicates that tokens are being sold on exchanges. This increase was not reflected in outflows. Exchange reserves are increasing, spot CVD is still weak and active addresses are unchanged. This combination suggests an increase, rather than a decrease, in sell-side liquidity. Large holders are either staying put or getting ready to sell rather than purchasing dips, because the top 10 wallets’ outflow is hardly moving.

Price decline continues

Another troubling aspect of the MA7 inflow chart is that inflows increase exactly when prices decline. It appears more like smaller holders sending SHIB to exchanges as panic protection, which typically precedes another leg down. That is classic capitulation behavior, but not the bullish kind where whales scoop the bottom.

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What will happen next? SHIB might retest the lows from November. The next logical target is $0.00075-$0.00070 if the selling pressure caused by this inflow spike materializes. This outlook could only be reversed by a persistent decline in exchange reserves and a break above the 50-day EMA. The signal is strong right now, but it is not bullish; rather, it is a warning that SHIB might not be finished bleeding.

A crucial upgrade alert has been issued to XRP Ledger validators. In a tweet, Jon Nilsen, an XRPL validator, passes a message to XRP Ledger validators to upgrade to the most recent rippled version 2.6.2 or risk being amendment-blocked in the next 13 days and 20 hours.

"If you are running an XRPL node, please update to the latest v2.6.2 of #rippled, or risk being amendment-blocked in 13 days and 20 hours," Nilsen wrote.

If you are running an #XRPL node, please update to the latest v2.6.2 of #rippled, or risk being amendment-blocked in 13 days and 20 hours pic.twitter.com/tfiweHsF22

— Jon Nilsen (@jonaagenilsen) December 4, 2025

In a Nov. 19 XRPL blog post, it was announced that version 2.6.2 of rippled, the reference server implementation of the XRP Ledger protocol, was now available. The release included a new fixDirectoryLimit amendment and a critical bug fix.

"fixDirectoryLimit," an XRPL amendment that removes directory page limits, was activated for voting with the release. A bug that caused an assertion failure when all the inner transactions of a Batch transaction were invalid was fixed.

In a recent tweet, Ripple CTO David Schwartz revealed that his hub had been running rippled version 2.6.2 for more than a week with no issues, indicating he himself had subscribed to the upgrade.

XRPL smart escrows

In a tweet, Vet, an XRPL validator, shared optimism about Smart Escrows coming to the XRP Ledger. Smart Escrows introduce custom conditions to escrow funds directly on-chain with the native escrow feature. Users can release escrow funds based on the XRP price using oracles, alongside other use cases.

According to RippleX software engineer Mayukha Vadari, as a new vision for permissionless programmability emerges, the first major component of this initiative is the concept of Smart Features, which allows developers some limited customizability, built on top of individual XRPL primitives.

Escrow is the very first primitive to receive this upgrade: enter Smart Escrows. XRPL Escrows are essentially on-chain contracts that govern the all-or-nothing transfer of funds from one account to another based on pre-agreed terms. Currently, they can only hold XRP, but the TokenEscrow amendment (currently up for voting) will enable holding both IOUs (issued assets) and MPTs (multi-purpose tokens).

Network throughput and payment volume are two crucial areas where XRP continues to outperform the wider market. The XRP Ledger is still steadily operating above the $1 billion-per-day threshold in both payments and successful transactions, even though price action has moved deeper into a declining channel and threatened a retest of the $2.00 psychological zone.

XRP's network is healthy

As a result, XRP is among the very few networks that sustain a billion-scale daily operational load, which is a crucial fundamental anchor that investors should not ignore. The on-chain data simultaneously displays two things. Payment volume spikes continue to be enormous; the most recent increase in value reached about 946 million XRP per day.

This keeps XRP well above the billion-range average that has been formed throughout November, even though it is less than the 2.2 billion mega-spike earlier in the month. Recent readings of successful transaction counts have exceeded 1.8 million per day, a level that has historically been associated with increased utility-driven activity rather than speculative noise.

XRP's suppressed performance

For price, however, the chart presents an alternative picture. Every attempt to break above the 21-day EMA and midchannel resistance is thwarted, and XRP is still trapped inside a distinct declining channel. The moving averages stack bearishly at 21, 50, 100 and 200, and there is little momentum and stagnant volume. Put simply, the market is still unconvinced, 000even though the fundamentals are getting better.

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The implications of this disconnect for investors are complex. The chart remains pessimistic. When the channel's lower boundary is lost, XRP moves straight toward the $2.00-$1.90 range. When that zone is broken, it opens the door to $1.50 and ultimately $1.00. The fundamentals are still very positive.

Sustained daily throughput of more than $1 billion in payments is not an insignificant accomplishment; it indicates scaled active ledger usage, which has historically preceded long-term recoveries. Fundamentals will not be immediately followed by price. XRP has a history of lagging market cycles and consolidating when utility metrics are rising.

The working week's closing meets a fragile setup as Musk-linked flows hit exchanges again, a dollar-pegged on-chain unit suffers a silent admin-seizure exploit and Cloudflare outages remove liquidity at the worst possible time.Bitcoin price action shows immediate stress and no supportive depth under $93,000.

TL;DR

SpaceX pushes$100 million BTC toward Coinbase amid thin liquidity.USPD stablecoin hit by a $1 million unauthorized mint exploit.Cloudflare outage takes Coinbase, Upbit, Kraken and major DeFi protocols offline.SpaceX sends $100 million in Bitcoin to Coinbase

Elon Musk's aerospace manufacturer is still one of the biggest corporate Bitcoin holders, with 8,285 BTC sitting on balance sheets — that is about $757 million at today's price. YetArkham's records show SpaceX wallets moving a lot of BTC to Coinbase Prime Custody.

The latest we can see was 1,083 BTC, which is about $99.81 million, going to exchange-linked addresses.

This volume alone cannot move the order book, but the signaling risk is the real issue: whenever a company this size interacts with an exchange, markets immediately price the "what if" of a sell program.

The current situation is even more sensitive: liquidity is thin and the intraday BTC chart shows a clean roll from $92,000 toward $91,000 during the Cloudflare outage window, meaning any change in perception hits harder than usual.

Musk and SpaceX have not said anything, and the market is still trading near a psychological pivot. There have been a lot of transactions, but they have not made things clearer. Bitcoin has spent the last 36 hours failing to stay above the $93,000 resistance level, and every time it is rejected, it gets a bit more uncomfortable heading into Friday's close.

USD stablecoin USPD suffers $1 million exploit

The US Permissionless Dollar (USPD), billed as a censorship-resistant, collateral-backed, fully on-chain USD unit powered by stETH, is facing a critical security incident. PeckShield flagged unauthorized minting and liquidity draining, and theproject’s own site has issued a prominent “DO NOT BUY USPD” warning.

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USPD’s pitch was simple: deposit stETH, mint a dollar unit backed by transparent reserves and continuous staking yield, avoid custodians, avoid KYC, rely entirely on audited smart contracts.

#PeckShieldAlert @USPD_io has reported an exploit resulting in a loss of ~$1M. Please revoke all token approvals to USDP contract.https://t.co/4mQqoE8EWO pic.twitter.com/IRo50xqhJL

— PeckShieldAlert (@PeckShieldAlert) December 5, 2025

Yet the compromise did not hit the core logic as, according to the project, USPD was targeted by a rare CPIMP attack, an advanced proxy-layer infiltration where a malicious actor front-runs proxy initialization and implants shadow implementation.

The timeline matters:

Sept. 16, 2025: During deployment, the attacker used a Multicall3 transaction to seize admin rights.They inserted an implementation that emitted deceptive event payloads.Etherscan displayed the legitimate audited contract, while the attacker used the shadow logic underneath.The exploit remained hidden for months, enabling unauthorized minting.

The affected address has been flagged across centralized exchanges and DEXes. USPD’s team offers a whitehat resolution: return funds minus a 10% bounty and law-enforcement escalation stops.

The loss figure currently sits near $1 million, but the reputational damage is for sure significantly wider.

Cloudflare down again: Coinbase, Upbit, Kraken, OKX Wallet, Jupiter and Raydium break

Cloudflare suffered another global outage, hitting both API and dashboard layers, and the impact radiated immediately across the crypto stack. Centralized exchanges — Coinbase, Kraken, and South Korea’s Upbit — reported downtime. Wallet systems and Solana ecosystem tools, including Jupiter, Raydium, Meteora and OKX Wallet, all showed user-facing failures.

Cloudflare has pushed a fix and claims active monitoring, but the resonance across crypto is clear: when infrastructure falters, price follows.Bitcoin slipped from $92,000 to $91,400 during the outage window, with the candlestick sequence showing accelerated selling driven by liquidity gaps.

When primary routing layers freeze, bots disengage, makers pull orders and volatility amplifies even small flows.

Market participants highlight that Cloudflare incidents have increased in frequency. Whether the load spikes stem from broader global demand or misallocated internal resources is unknown, but repeated downtime now forms a credible market risk factor — something traders must price into weekend sessions whenever volatility compounds with infrastructure failure.

Crypto market outlook

Bitcoin enters Friday’s settlement with technical rejection, structural risk from corporate flows, a fresh stablecoin credibility shock and market-wide outages compressing liquidity. The environment remains unstable, and barring a decisive break above $93,000, the drift stays pointed toward defensive posturing into next week.

Bitcoin remains under $93,000 and shows weakening reaction bids under $91,500.SpaceX flows toward Coinbase continue to inject directional uncertainty.Stablecoin trust premium takes a hit as USPD’s stealth exploit unfolds.Infrastructure reliability becomes a front-page macro factor after Cloudflare’s outages affect both CEX and DeFi interfaces.Liquidity mostly thin into the weekend, giving outsized impact to any large on-chain or exchange-routed moves.

The week closes with all structural risks exposed at the same time.

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