Macro Overview
- US PPI m/m: The US Producer Price Index (PPI) month-over-month matched expectations, making it a neutral print for the market with no major impact on sentiment.
- US Unemployment Claims: Jobless claims came in below expectations, signaling a stronger labor market. This is slightly bearish for crypto, as a stronger economy can reduce expectations of aggressive rate cuts.
Crypto Markets Overview
- Market Movement: This week, the crypto market experienced a -0.32% fall, bringing the total market capitalization to $2.91 trillion. Notably, BTC saw a rise of 0.74% and ETH saw a fall of -0.65%. Bitcoin’s dominance stands at 59.60%, while Ethereum’s holds at 11.61%
- Crypto Spot Trading Volume Drops to $1.59T in November: Crypto exchanges saw spot trading volume fall to $1.59 trillion in November — a 26.7% drop from October and the lowest level since June. Binance remained the top exchange with $599.34 billion in volume, though significantly down from October’s $810.44 billion. Bybit followed with $105.8 billion, while Gate.io and Coinbase posted $96.75 billion and $93.41 billion, showing a clear cooldown across the sector.
- Strategy Adds 130 BTC, Boosting Holdings to 650,000 BTC: Strategy (formerly MicroStrategy) bought another 130 BTC for $11.7 million at an average price of ~$89,960, bringing its total holdings to a massive 650,000 BTC. The stash is now worth about $56 billion and represents over 3% of Bitcoin’s max supply. Despite recent market weakness, the company still holds roughly $7.6 billion in unrealized gains.
- Sony Bank Plans USD Stablecoin Launch in the US by 2026: Sony Bank is preparing to launch a U.S. dollar-pegged stablecoin in the U.S. as early as 2026, according to Nikkei. The bank is setting up a U.S. unit and has already applied for a banking license, partnering with stablecoin issuer Bastion for infrastructure. The stablecoin is expected to be used across Sony’s ecosystem — including games, anime, and subscriptions — giving users a cheaper alternative to credit-card payments.
- Spot Bitcoin ETFs See $3.5B Outflows in November, Biggest Since February: Spot bitcoin ETFs saw $3.48 billion in net outflows in November — their largest monthly drop since February. The funds faced four straight weeks of negative flows, with over $4.3 billion leaving since Oct. 31, although the month ended with a short streak of inflows before Thanksgiving. BlackRock’s IBIT led the outflows, losing $2.34 billion and recording its biggest single-day outflow of $523 million on Nov. 18. Analysts say the withdrawals likely stem from profit-taking and year-end rebalancing, not fading institutional interest.
Top Altcoins Update
- BitMine Adds 14,618 ETH as It Ramps Up Toward 5% Supply Goal: Tom Lee’s BitMine Immersion Technologies has reportedly added 14,618 ETH (worth about $44 million) to its Ethereum treasury, according to Lookonchain data from Arkham — though BitMine hasn’t officially confirmed the transaction yet. This comes shortly after the firm announced a $200 million ETH purchase, taking its verified holdings to 3.63 million ETH (around $10.9 billion), roughly 3% of Ethereum’s total supply. BitMine has repeatedly stated its goal of accumulating 5% of ETH’s supply, reinforcing its long-term bet on Ethereum’s role in future financial markets.
- Optimism Reworks Its Strategy After Years of Rapid Expansion: Ethereum Layer-2 project Optimism is reassessing its direction after spending years helping other teams build their own chains using the OP Stack. CEO Jing Wang said the project spread itself too thin — hiring too aggressively and losing strategic focus as the market changed. Chains like Coinbase’s Base and Kraken’s Ink were built on Optimism’s tech, but Wang noted that while the team executed many tactical wins, it didn’t build the long-term structure needed to sustain momentum in today’s tougher environment.
“Big Picture: Upcoming Weeks’ Key Economic Events”
| DATE | TIME | EVENT | USUAL EFFECT |
| Dec 1 | 8:30 PM | US ISM Manufacturing PMI | Actual less than Forecast is good for crypto |
| Dec 2 | 6:30 AM | US Fed Chair Powell Speaks | More dovish than expected is good for crypto |
| Dec 3 | 8:30 PM | US ISM Services PMI | Actual less than Forecast is good for crypto |
| Dec-4 | 7:00 PM | US Unemployment Claims | Actual greater than Forecast is good for crypto |
| Dec-5 | 8:30 PM | US Core PCE Price Index m/m | Actual less than Forecast is good for crypto |
Bitcoin Technical Analysis
Summary:
- The current sentiment around BTC is Sideways.
- BTC has been moving sideways, just like we mentioned in our last weekly report. The outlook for the next few days hasn’t changed. Technically, price looks stable and is holding a key support level. On the macro side, sentiment is mixed, so the market doesn’t have a clear push in either direction.
- Key support levels to consider are around $83,800 and $75,000. On the upside, resistance level is at $93,800 and $99,200
- It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
- For profit-taking, strategically selling near the outlined resistance levels/support levels is a recommended approach. Always exercise caution and implement sound risk management practices in trading endeavours.
Ethereum Technical Analysis
Summary:
- The current sentiment around ETH appears Sideways.
- ETH also moved as expected in our last weekly report, holding steady. Based on the current price action and overall sentiment, it’s likely to continue this sideways momentum in the coming days. It pairs smoothly with the BTC outlook while keeping things easy to read.
- Significant support levels include $2630 and $2380, while resistance level to watch is at around $2840 and $3050.
- These levels play a crucial role in determining potential price movements. It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
Solana Technical Analysis
Summary:
- The current sentiment around SOL is Sideways.
- SOL lagged behind BTC and ETH, showing a bit more weakness relative to other top assets. For the coming days, its trajectory looks sideways to slightly down. Broader market conditions will play a crucial role in how it behaves from here.
- Key support levels to consider are around $120 and $113. On the upside, resistance level is at $136 and $144.
- It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
- For profit-taking, strategically selling near the outlined resistance levels/support levels is a recommended approach. Always exercise caution and implement sound risk management practices in trading endeavours.
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