[Crypto World] XRP's recent performance is quite interesting - the price has fallen by 6.74%, now at $2.04, but the volume has actually gotten liquidated, surging 92% in 24 hours directly to $3.92 billion. Behind this operation, the entire crypto market is actually suffering, with a total liquidation of $638 million, and long positions getting hit the hardest.
Market analysts attribute this fall to two factors: liquidity exhaustion and macroeconomic uncertainties. However, it's not all bad news; Ripple has secured a broader payment license in Singapore, and the rumors about 21Shares working on an XRP spot ETF are becoming more credible, so there is still some positive sentiment in the market.

The price of Bitcoin fell sharply by 6% on Monday, dropping from $93,052 to the current level, erasing previous gains. Short positions are clearly dominant, with the 20-day moving average turning downwards, and the technical outlook has turned bearish. If the retracement level of 86,783 cannot be maintained, it may fall to 85,304, 83,473, and 80,514.

Recently, inflation has risen, but the market anticipates interest rate cuts ahead of time, leading to increased fluctuations in the crypto market and a clear differentiation in sentiment. This misalignment of expectations hides both risks and opportunities, and ordinary players need to build robust strategies to cope with market changes. There will be a live broadcast at 8 PM on December 2 to discuss related issues in depth.

Recently, BTC has seen concentrated buying around the $80,000 mark, which may form a psychological barrier and provide support for new players entering the market. However, subsequent capital competition will determine whether this support can be maintained.

David Sacks, the head of AI and crypto world affairs at the White House, is seeking support from a legal team due to media investigations regarding conflicts of interest, firmly rebutting the accusations and stating that the reports lack solid evidence and have been modified multiple times, indicating that the upper echelons of the crypto world also need to face the challenges posed by the media.

[Block Rhythm] On December 1st, there was a major movement on-chain. That mysterious Whale who accurately shorted during the flash crash on October 11th has recently dumped 170 million USD stablecoin into a leading exchange over the past 7 hours.
Currently, this Whale has pledged 126,232.16 ETH while borrowing 160 million USDT. The question arises—what is the intention behind this operation? Is it to buy the dip and accumulate, or simply to supplement margin? The market is speculating, but whales never explain. Such a large-scale capital movement often signals that a major market trend is about to come.

The head of a leading exchange in the Asia-Pacific region discussed the future of digital assets, emphasizing institutional collaboration and the potential of the Asian market. He anticipates that in the next five years, institutions will gather, the on-chain reality of assets and the use of stablecoins will become common, and regulatory frameworks will gradually align across different regions. They focus on Compliance and education, particularly optimistic about the development of the Indian market, planning to participate through local partnerships. Overall, Compliance will determine who can gain an advantage in the market.

[Coin World] South Korea has taken new action on cryptocurrency legislation.
Lawmakers plan to finalize the "Basic Law on Digital Assets" before January 2026, with the core focus being to launch a "Korean-style stablecoin." The structure of this stablecoin is quite unique—banks must hold more than 51% of the shares, while technology companies can only be minority shareholders. In other words, it aims to ensure that traditional financial institutions firmly maintain control.
Democratic Party member Kang Jun-hyeon issued an ultimatum to the finance department: a government version of the proposal must be submitted by December 10. His stance is clear; if the officials delay, the members will create an independent version themselves.
The design concept of this alliance structure is quite interesting; it aims to embrace innovation while not willing to give up regulatory control. As for whether it can be implemented on time, it depends on the outcome of negotiations among all parties.

[Block Rhythm] There was a big move yesterday: two addresses marked as Abraxas Capital poured 62 million dollars into Hyperliquid, specifically to sweep HYPE Spot. However, they are not foolish either; they simultaneously opened a 5x leveraged HYPE short order for hedging, which serves as insurance for themselves.
Today, as the market dropped, this batch of spot positions shrank to around 56.4 million dollars, accounting for nearly half of the total funds in these two accounts.
Looking back through the records is more interesting—from November to now, this institution has been crazily closing short orders to take profits. The total position size has dropped from $760 million on November 3 to $146 million now, and in the meantime, they've withdrawn quite a bit of money to their on-chain wallet. It's worth noting that before closing positions, it was the largest holder on Hyperliquid.
Currently, I mainly have two short orders left: a position of 82.02 million USD on the ETH side, which is already floating.

【Chain News】Japan's recent move is quite drastic—the government is preparing to slash the Crypto Assets trading tax to a unified rate of 20%. Can you believe it? Right now, players in Japan are facing a maximum tax of 55% because they lump the earnings from the crypto world together with their salaries and business income, resulting in absurdly high taxes as income rises.
The new policy will change to "separate taxation", which means that the profits from trading coins will be accounted for separately, without linking it to your other income, and will be taxed directly at 20%. This treatment is on par with trading stocks and buying funds. The government aims to include this in the tax reform outline by 2026, and it should be finalized by the end of the year.
The harsher measures are yet to come— the Financial Services Agency plans to amend the Financial Instruments and Exchange Act to directly prohibit insider trading practices. Teams issuing coins will have to honestly disclose information in the future. If this set of combined measures is implemented, Japan may loosen restrictions on investment trust products that contain Crypto Assets, effectively giving institutions a green light to enter the market.
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A leading exchange will conduct automatic liquidation of SXPUSDT and MILKUSDT at 5 PM on December 5th, followed by the liquidation of OBOLUSDT and TOKENUSDT at 5:30 PM. Contract players are advised to plan their positions in advance to avoid the risk of liquidation.

A trader purchased 422,000 LINK for 5.37 million USDT. Despite having a win rate of 67%, since October 11, the total account loss has been 1.24 million USD, indicating that merely looking at the win rate is not sufficient to guarantee profit; attention must be paid to the single trade profit-loss ratio.

The Cardano Mainnet experienced a brief split on November 21, resulting in a fall in ADA prices, but the technical team quickly resolved the issue. Meanwhile, analysts compared the performance of Cardano with the emerging project Remittix, which has garnered attention due to high rewards and upcoming payment features. This comparison reflects the different dynamics in the market.

The article discusses the phenomenon that when the prices of precious metals (copper, silver, gold) rise, the crypto market often experiences a good trend. Historical data shows that this "three-metal resonance" often indicates that the rise of Bitcoin and mainstream alts exceeds the overall market performance, as liquidity loosens and funds begin to flow into high-risk assets. Investors can follow the impact of this phenomenon on the crypto market.

[Block Rhythm] Recently, BTC has experienced a significant pullback, and Arthur Hayes provided his interpretation - this drop may be related to the movements of the Central Bank of Japan.
Specifically, the Bank of Japan recently signaled a possibility of interest rate hikes in December. If you look at the exchange rate of the US dollar against the Japanese yen, it has been fluctuating in the range of 155 to 160, which actually reflects a more hawkish stance from the Bank of Japan.
Adjustments in the monetary policy of traditional financial markets often affect global liquidity expectations. The rising expectations of a Japanese yen interest rate hike may lead to the closing of arbitrage trades, which in turn affects the performance of risk assets. As a high Beta asset, BTC naturally cannot escape this round of adjustments.

[Coin World] ZEC has fallen quite severely this time, directly breaking through 370 USD. A Large Investor couldn't sit still and quickly poured 1.5 million USDC into Hyperliquid – there was no choice, his long positions with 10x leverage were on the verge of getting liquidated.
But not much was saved. The current floating loss on the books is 4.28 million USD, and with the previous losses, a total of 6.6 million USD has evaporated. Playing with high leverage was thrilling, but this time it really stopped the heart.

Recently, the prediction market has seen a surge in the likelihood of Hasset taking over as the Fed Chair, with his winning probability significantly rising in a short period, showing a trend that is more accurate than traditional polls. This change has drawn attention from the crypto world, as the policies of the new Fed Chair will directly impact market dynamics.

Analysts point out that although the Fed announced that quantitative tightening will end on December 1, the adjustment of the balance sheet may take a long time, similar to the situation in 2019, and actual changes may have to wait until early 2026. Improving liquidity takes time, and caution is required in viewing the turning point of the bull run.

A newly created wallet address BxNU5a invested $179,800 to purchase 8.2 million pippin tokens. After a month, the total value has risen to $1.51 million, with unrealized gains exceeding $1.35 million. This operation has sparked curiosity about the investor's identification.

[BitPush] There is an address on-chain worth following. About a month ago, this wallet numbered BxNU5a spent nearly $180,000 to sweep up PIPPIN, hoarding 8.2 million coins in one go. And now? The market capitalization of this batch has skyrocketed to $1.51 million. Calculating it, there is already a profit of over $1.35 million on paper. In just a month, it has nearly increased 8 times, this operation is indeed fierce. It's unclear whether this individual was lying in ambush in advance or just lucky to hit the right rhythm, but in any case, they are currently in a state of lying win.