Delphi Digital's recent report shows that institutional encryption demand has sharply declined, with traffic down 90% compared to August. Capital inflow has dropped from $5.5 billion in August 2025 to less than $500 million, with October's funds nearly stagnant. BTC is attracting limited follow, and altcoin trading is almost at a standstill. Institutional capital is in a wait-and-see mode, and existing positions are facing value loss.

On November 22, news reported that Hsiao-Wei Wang, Co-Executive Director of the Ethereum Foundation, compared Ethereum to an endlessly constructed ladder built by the community in her speech at Devconnect ARG. She pointed out that the Ethereum Foundation does not control the steering wheel, but rather guides Ethereum's natural growth. She emphasized that Ethereum's success stems from Decentralization, with its strength coming from the collective progress of global collaborators, where each step becomes a new starting point for others, thus achieving continuous and compounded growth.

Odaily News According to monitoring by Arkham, (as the BTC price continues to fall,) the Satoshi Nakamoto address has lost 47 billion USD, bringing personal wealth down to 90.7 billion USD, the lowest point since reaching an ATH of 137 billion USD last October. The 47 billion USD loss generated by the market decline accounts for approximately 34% of its historical highest net worth.

According to Jin10, Trump is expected to push for significant interest rate cuts after appointing a new Fed chair next year, but opposition within the Fed to a rate cut in December is becoming increasingly evident, with Powell facing unprecedented internal resistance and the decision-making process potentially experiencing serious divisions.

Jin10 reports that Reuters on the 21st cited sources revealing that the Trump administration is considering approving the export of NVIDIA's H200 artificial intelligence chips to China. The report cited informed sources stating that the U.S. Department of Commerce, which oversees U.S. export controls, is reviewing changes to export restrictions to China, and that related plans may change. The report stated that the U.S. Department of Commerce has not yet responded to this, and NVIDIA has not directly commented on the matter.

Odaily News Strategy, a Bitcoin treasury company, stated in a post on the X platform that during the 2022 encryption Bear Market, the company's average purchase cost was $30,000, while at that time the trading price of Bitcoin had fallen to only $16,000, with the market price being only 50% of its buying cost. However, Strategy bought more Bitcoin, suggesting that this Bear Market will continue to increase its Bitcoin holdings.

PANews November 22 news, the crypto market analysis platform Santiment tweeted that Bitcoin's sentiment on social media has officially fallen to its lowest point since December 11, 2023. Based on the bullish and bearish comments on platforms such as X, Reddit, and Telegram, retail investors are collapsing, and the level of panic selling has reached its highest level in two years.

Odaily News Hyperbot website data shows that after experiencing multiple liquidations, Machi Big Brother's Hyperliquid account assets are only left with 7,282.32 dollars. Currently, he still holds a 25x long order of 56.32 ETH, with a position value of only 156,000 dollars, and the unrealized gains are about 600 dollars, with a liquidation price of 2,695.93 dollars.

Gate News bot message, according to the official announcement from Gate on November 21, 2025 Gate has launched the PYBOBO token on its instant exchange platform. Users can now trade PYBOBO through the platform's instant exchange feature. After this launch, the number of cryptocurrency assets supported by the Gate instant exchange platform has exceeded 2,200, providing users with a one-click exchange service with no fees.

The key pain point area for Bitcoin prices is between $84,000 and $73,000, which determines the bottom of this cycle, mainly influenced by the cost basis of large institutional investors. The market is undergoing a comprehensive reset, and sellers are being forced to yield.

PANews, November 22 news, according to on-chain analyst Yu Jin's monitoring, Huang Licheng (Ma Ji) lost on opening a long position on ETH with the 115,000 USD he deposited yesterday, and there is only 7,000 USD left in the address now.

The UK's National Crime Agency (NCA) has disclosed that 128 people have been arrested in the "Operation Destabilise" aimed at targeting Russian sanctions evasion, with $32.6 million in Crypto Assets and cash seized. The operation commenced in 2024, and recently, an additional 45 suspects of Money Laundering have been apprehended.

CME Bitcoin and Ether futures both experienced significant falls this week, dropping 9.52% and 11.62% respectively. The overall market is sluggish, with Crypto Assets and related indices also declining sharply, indicating a weak trend.

Mayuravarma, who ranked sixth on the Polymarket sports profit leaderboard, lost due to a one-time bet of $1.2 million on an NHL game, having previously increased his $5,000 to $3.8 million, only to lose all profits in just one week, which is quite regrettable.

Golden Finance reported that a retail investor miner using Solo CKpool with a computing power of only 6 TH/s accidentally mined a block, earning about $265,000 in Bitcoin rewards. Based on the total network computing power, the daily block generation probability is only about 1 in 180 million. This is the first successful CKpool block in the past three months, and it is the 308th since the software was launched in 2014.

U.S. Democratic Congressman Jason Crow has called for an investigation by Capitol Police into Trump for his "intimidating and threatening" remarks on social media. This request involves legal disputes surrounding the president's constraints under criminal justice procedures, as Trump's posts have led to an increase in violent threats against congressional offices.

Golden Finance reported that Grayscale's two new encryption Spot ETFs — Grayscale Dogecoin Trust ETF (GDOG) and Grayscale XRP Trust ETF (GXRP) — will be listed on the NYSE Arca on Monday.

Putin stated at the Standing Committee meeting that Russia and the United States have discussed Trump's peace plan for Ukraine and the U.S. "28-point plan." He pointed out that Russia is willing to engage in peace negotiations, but there needs to be an in-depth discussion on the details of the plan. Currently, the U.S. pause stance is related to Ukraine's rejection attitude.

Golden Finance reported that data shows that the group of people with a four-year college degree in the United States now accounts for a record 25% of the total unemployed, highlighting the sharp slowdown in white-collar hiring this year. The monthly data released by the U.S. Bureau of Labor Statistics on Thursday, which was delayed due to the government shutdown, shows that the unemployment rate for those with a bachelor's degree rose to 2.8% in September, an increase of half a percentage point from a year ago. In contrast, the unemployment rate for other educational levels has seen little to no increase during the same period. In September, there were more than 1.9 million unemployed Americans aged 25 and older with at least a bachelor's degree, accounting for one-quarter of the total unemployed. This proportion has never reached such a high level in data going back to 1992 before 2025. This indicates that younger, newly graduated college students are also struggling to find jobs. Michael Feroli, Chief U.S. Economist at JPMorgan, pointed out that college-educated.

According to ChainCatcher news, the Trump family's encryption project "World Liberty Financial" partner WLFI Reserve Company ALT5 Sigma stated in documents submitted to the SEC that its CEO was officially suspended on October 16, but internal emails show that the company's board had actually placed him on "temporary leave" as early as September 4. Several securities regulation experts indicated that this significant time difference may have violated information disclosure rules. The enclosed email also revealed that the Chief Revenue Officer Vay Tham was simultaneously placed on leave, as the board's special committee is investigating "certain matters related to the company." According to SEC regulations, listed companies must disclose when executives actually cease to perform their duties.

BlockBeats news, on November 22, the London-based ETF issuer LeverageShares will launch the world's first 3x go long/shorting Bitcoin and Ether ETF in Europe next week. Four new products (Bitcoin 3x go long, Bitcoin 3x shorting, Ether 3x go long, Ether 3x shorting) will be listed on the Swiss SIX exchange, further expanding the company's existing lineup of leveraged products.

Odaily News CZ posted on the X platform, stating: "I may have played some role in the Bridgewater founder Ray Dalio's allocation to Bitcoin, and of course, in exchange, I have also learned from him." Previously, it was reported that Ray Dalio disclosed that he has long held a small amount of Bitcoin, which has consistently accounted for about 1% of his investment portfolio.

BlockBeats news, on November 21, Citigroup warned that due to wavering optimism about artificial intelligence, caution should be exercised when going long on the S&P 500 index. (Jin10)

PANews November 21 news, Maple Finance responded to the recent public accusations from the CORE Foundation regarding its BTC yield program and syrupBTC product. Maple firmly denies CORE's accusations, stating that they distort the facts. Maple claims that the BTC yield program operates as an independent entity, with assets isolated from the overall business. Due to the fall in the value of CORE tokens, risk control measures have been initiated, with plans to orderly sell CORE tokens to protect the principal of lenders. Although there are hedging mechanisms in place to protect lenders, the inability to sell tokens as planned is affected by the legal actions initiated by CORE. At the same time, it emphasizes that syrupBTC is independently developed and has not used CORE's confidential information. In terms of law, Maple is actively filing a lawsuit to enforce the hedging agreement signed by CORE, and points out that CORE's allegations have not been confirmed, and the judgments cited by it originate from a

PANews, November 21 - According to Jin10, Dallas Fed President Logan stated on Friday that the Fed needs to "keep interest rates unchanged for the time being" while assessing the current tightening of monetary policy. In a speech delivered in Zurich, she reiterated her previous view that the Fed's rate cut in October was not appropriate given that inflation remains elevated and the labor market is generally balanced. She said, "Maintaining interest rates unchanged for a period of time, in the absence of clear evidence to support further easing of policy, will allow the Federal Open Market Committee (FOMC) to better assess the degree of constraint of current policy."

Odaily News The Fed's Logan stated that it is expected that the Fed's balance sheet will resume rise soon, and the Fed needs to offset the tailwinds brought by financial conditions. (Jin10)

According to ChainCatcher news and Jin10 reports, spot gold has turned to rise during the day, reported at 4,077.75 USD/oz. On the news front, Ukraine and its European allies are reportedly rejecting key parts of the U.S. proposed peace plan for the Russia-Ukraine conflict. Fed's Williams still believes there is room for interest rate cuts in the near term.

The Fed Vice Chairman Jefferson believes that the development of artificial intelligence is significantly different from the internet bubble of the late 1990s, and that the current valuations of AI companies are lower than the peak values of internet companies at that time. He pointed out that it is still too early to judge the impact of AI on monetary policy, and that the financial system remains robust.

BlockBeats news, on November 21, Fed Vice Chairman Jefferson: Unlike the internet bubble period, the rise in AI-related stocks is mainly due to the fact that AI companies actually have real earnings. The current market's differences from the internet bubble period make it unlikely that we will witness a repeat of the late 1990s. It is still too early to determine how AI will affect the labor market, inflation, and monetary policy. (Jin10)

Golden Finance reports, Fed's Collins: As time goes on, further rate cuts are expected. Having a diversified view on the Fed is healthy.

According to ChainCatcher news and Jin10 reports, Fed's Collins stated that maintaining interest rates stable is appropriate at this time, as inflation may remain high for a period. She added that the labor market seems to be cooling, but the rate of decline is not fast. Collins pointed out that if there are clear signs of significant deterioration in the labor market, it will be taken very seriously, which could provide a reason for further easing in the near future, but so far there have not been significant changes in the unemployment rate.

Golden Finance reports that Fed's Williams stated that the 2% inflation target remains a very useful goal.

BlockBeats news, on November 21, Fed's Williams: The market seems very optimistic about artificial intelligence and is expected to usher in a strong rise period. (Jin10)

Odaily News The Fed's Williams stated that fiscal policy may have pushed the neutral interest rate up by 25 to 50 basis points, and from a global perspective, the U.S. remains in a low neutral interest rate environment. (Jin10)

Odaily News As Powell's four-year term is set to end in May next year—just six months away—the search for the next Fed chair is in full swing, with five candidates currently vying for what could be the most significant position in the U.S. economy. Powell has endured months of relentless attacks from Trump. Trump has consistently called for a drop in interest rates and has tried to reshape the Fed into a subservient institution. This week, Trump reiterated his desire to fire Powell, stating he 'really wants to get rid of him.' The next Fed chair may need to arm themselves to resist Trump's scorched-earth policy approach—unless that person is Hassett. Hassett has already hinted that he would support Trump's desire for a massive rate cut. (Jin10)

Odaily News The United States has launched an investigation into Chinese Bitcoin mining giant Bitmain due to national security concerns. It is reported that the "Red Sunset Operation," led by the U.S. Department of Homeland Security, is investigating whether Bitmain's mining rigs could potentially be used for espionage activities or grid sabotage in the U.S. Bitmain denies having any remote control capabilities and claims to be unaware of the investigation, stating that these allegations are "completely erroneous." (The Block)

Golden Finance reported that the declines in S&P 500 index futures and Nasdaq 100 index futures have narrowed.

BlockBeats news, on November 21, New York Fed President Williams: Given that current policies are somewhat tight, the Fed may still cut interest rates in the short term. The inflation process is stagnant, but it is expected to reach the 2% target by 2027.

BlockBeats news, on November 21, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) disclosed that the U.S. Treasury announced sanctions against former Canadian Olympic athlete Ryan James Wedding and his drug trafficking organization. Wedding is accused of leading an international drug trafficking network, and the sanctions list includes 9 individuals and 9 entities designated as Specially Designated Nationals (SDN). The sanctions list contains multiple crypto assets addresses, involving Bitcoin, Ether, and various Blockchain networks. The sanctioned individuals include several suspects from Mexico, Italy, the UK, and Canada, and the related entities span multiple industries including jewelry manufacturing, private security, fuel wholesale, and motorcycle sales.

Odaily News Animoca Brands announced the signing of a strategic cooperation memorandum of understanding (MOU) with Nasdaq-listed company Hang Feng Technology, aimed at promoting the latter's RWA ecosystem development and intends to support the distribution of RWA tokens. It is reported that both parties will establish an RWA treasury in the on-chain treasury market NUVA and plan to jointly create Web3.

According to ChainCatcher news reported by Decrypt, Indonesian authorities have arrested a local hacker who is suspected of exploiting a security vulnerability in the deposit system of the trading platform Markets.com to steal Crypto Assets worth $398,000. The arrested suspect has only been identified as HS and was detained on Saturday in Bandung, West Java. It is reported that the hacker exploited the system's anomalies under the name of Markets.com, and the platform would generate based on any deposit amount entered by the attacker.

The White House is preparing to respond to potential personnel changes by Trump after the anniversary of his term, which may affect the stability of the cabinet, particularly with possible adjustments in the Department of Homeland Security and the Department of Energy. The White House Press Secretary stated that there will be no changes in the cabinet.

The Web3 fantasy sports platform Sorare announced a 35% reduction in its workforce, with 35 out of approximately 100 employees set to leave, and the co-founder will also step down. The CEO stated that this move will accelerate the path to profitability and simplify the company's structure, with expectations that the company will return to rise in 2025 and achieve profitability by the end of 2026.

CryptoQuant CEO Ki Young Ju analyzed the market's weakness and predicted that Bitcoin might struggle to rebound in the next 3-6 months, with a real bull run awaiting liquidity recovery next year. He also mentioned that the foreign demand for U.S. Treasury bonds is weakening, and insufficient liquidity will lead to instability in the bond market, with scarce assets like gold and Bitcoin expected to rise in price.

Bitcoin plummeted to $81,900 on Friday, erasing Thursday's rebound and further extending a month-long dumping spree, with the crypto assets market capitalization evaporating by over $1.4 trillion. Bitcoin's current trading price is more than 30% lower than its historic peak in October, while the entire crypto assets market capitalization has also fallen below $3 trillion. Analysts say that the situation of the market big dump may further worsen. Citrini Research warned in a report sent to investors that risk aversion will continue to impact Crypto Assets and other speculative assets until mid-December. This is because investors are still coping with the effects of the longest government shutdown in U.S. history, which could 'trigger' market volatility. Kiln Research Director Robert Le stated, "If Bitcoin deviates from its established trend, I think the market may underestimate its upside potential and downside risks."

With Ethereum experiencing a big dump of over 27% in a month, trading prices have fallen below $3000, and BitMine is facing an unrealized loss of over $4 billion. This massive loss is not an isolated incident; it reflects a deeper systemic crisis sweeping across the digital asset (DAT) industry, which is wobbling due to the volatility it relies on for survival. BitMine was once hailed as the Berkshire Hathaway of the digital asset space, envisioning to lock up 5% of the circulating supply of Ethereum. Its core strategy is to transform the company's balance sheet into a long-term, high-confidence investment in blockchain network infrastructure. Today, this ambitious vision collides with the harsh realities of the market.

According to ChainCatcher news and Jin10 reports, the European Stoxx 600 index's decline has widened, currently down 1.1%. The European technology stock index has fallen 3.1%, reaching its lowest level since mid-September.

Bitcoin is heading towards its worst monthly performance since 2022, with Placeholder partner Chris Burniske warning that the decline has just begun. Chris Burniske believes, "The DAT dumping phase has only just started; just as we rose, we will also fall." Alliance DAO co-founder QwQiao predicts that the next round of Bear Market needs to fall another 50% to establish a solid foundation. On Friday, Bitcoin fell by as much as 6.4% to $81,629, with prices in November down about 23%, marking the largest monthly decline since June 2022. Despite the White House's supportive stance on cryptocurrency and a surge in institutional users, Bitcoin's price has plummeted over 30% from the historic high reached in early October, with a single-day liquidation amount reaching up to $1.9 billion, exceeding the losses caused by the COVID-19 market crash and the FTX collapse.

Coinglass data shows that approximately $1.97 billion in Crypto Assets were Get Liquidated in the past 24 hours, and the top ten Crypto Assets by market capitalization (excluding stablecoins) all experienced double-digit falls in the past 24 hours, exacerbating the dumping trend. As a result, the total market capitalization of Crypto Assets has fallen below $3 trillion for the first time in seven months. The S&P 500 index stabilized after a decline on Thursday, indicating that this drop is primarily concentrated in the Crypto Assets sector. CryptoQuant's certified analyst Maarten Regterschot stated: "This is the first large-scale dumping since October 10. The historic liquidation event on October 10 was driven by spot selling, while the current fall is driven by leverage."

On Friday, Bitcoin briefly fell by 6.4% to $81,629. Ethereum, the second largest by market capitalization, dropped by 7.6%, falling below $2,700, and many other smaller tokens also experienced similar declines. European stock markets also generally fell, highlighting the market's risk aversion sentiment. This also means that Bitcoin is heading towards its worst monthly performance since a series of company bankruptcies severely impacted the entire encryption industry in 2022. Data shows that in November, the price of Bitcoin has fallen by about a quarter, marking the largest monthly decline since June 2022. In May of that year, Do Kwon's TerraUSD stablecoin project collapsed, triggering a series of company bankruptcies, ultimately leading to the collapse of Sam Bankman-Fried's FTX exchange.