Bitcoin plunged nearly 5% to $86,950 in Sunday trading, triggering $539 million in liquidations after the asset endured its worst November performance since 2018.

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Canary Capital's dominance in the XRP ETF market could accelerate institutional adoption and influence future crypto investment strategies.

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The significant liquidations highlight the volatility and risk in crypto markets, potentially deterring new investors and impacting market stability.

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The price of Bitcoin appears to have cooled off after displaying great strength in recovering the $90,000 level over the past week. According to the latest price action data, this price jump will only be transient, as the premier cryptocurrency is seemingly still stuck in a bearish structure.

BTC Price Momentum Continues To Slow Down

On November 29, market analyst Axel Adler Jr. shared a fresh outlook on the price of BTC on the social media platform X. The crypto pundit revealed that the market leader might be entering a zone of “elevated risk for a prolonged correction.”

According to Adler Jr., the price momentum of Bitcoin has been witnessing a cool-off since March 2024. This observation is based on changes in the monthly Relative Strength Index, an indicator that measures the speed and magnitude at which an asset’s price changes.

Related Reading: Bitcoin Investors Are Not ‘Remotely Bullish Enough’ — Bitwise Researcher

Data from CryptoQuant shows that the monthly Bitcoin RSI has fallen from overheated levels down to 60% since March 2024, a period marked by significant price surges. From a historical perspective, this decline could spell further trouble for the price of BTC.

As Adler Jr. highlighted on X, the flagship cryptocurrency took between 200 to 300 days to begin a new bullish wave after an RSI decline of that magnitude in the previous two cycles. Using this historical pattern, the Bitcoin price might not reach its next bottom until between June and October 2026.

Bitcoin Whales Show Reduced Conviction: Alphractal CEO

From a different on-chain standpoint, Alphractal CEO and founder Joao Wedson also has a similar not-so-optimistic stance on the price of Bitcoin in the near term. This evaluation is based on the positions of the largest investors (whales) compared to retail investors.

According to Wedson, BTC whales are either closing their long positions or slightly increasing their BTC shorts compared to retail investors. Typically, this trend leads to a period of sideways price movement — as seen between March and April 2025.

Wedson also noted that some bears are probably looking to push the BTC price toward the $80,000 level before going on an accumulation spree. Ultimately, the combination of the falling momentum and whales’ lack of conviction paints a somewhat pessimistic picture for Bitcoin.

As of this writing, the price of BTC stands at around $90,979, reflecting no significant changes in the past 24 hours. Meanwhile, the market leader is up by more than 7% on the weekly timeframe, according to data from CoinGecko.

Reports are circulating that big financial players may be quietly buying XRP while the price sits near $2.18. If true, that could help explain why XRP hasn’t pushed past $3 even as trader interest grows. Some observers point to shrinking exchange wallets and limited disclosures as hints that accumulation is happening off-exchange.

Are Institutions Buying?

On-chain data shows Coinbase’s XRP stash fell sharply — from almost 1 billion tokens to about 32 million in September. Some analysts read that as coins being moved into private custody, possibly under NDAs.

Market commentator Dr. Jim Willie has suggested banks like Bank of America and BNY Mellon could be building positions quietly. He’s also picked up on recent remarks from BlackRock’s Larry Fink about an XRP ETF and taken them as another sign of institutional involvement. That’s a possible explanation, not proof.

Hydraulic Shift And ETF Bets

Willie uses a “hydraulic” metaphor: money leaving Bitcoin and Ethereum could push large gains into XRP if flows shift that way. ETFs, he argues, could speed this process by giving institutions easier access — especially if over-the-counter supply tightens.

But analysts warn against assuming ETFs will automatically spark a rapid price surge. Liquidity, market sentiment and broader macro conditions still matter a lot.

XRP recently traded under $2.20, roughly $2.18 as November closed. Commentator Meme Whale floated targets of $5 (near-term) and $10 (longer-term) — rises of close to 130% and 358% from current levels by April 2026.

For perspective, XRP once jumped 340% in five weeks back in 2021, rising from $0.43 to $1.96. Past spikes show how volatile the crypto market can be, but they don’t guarantee a repeat.

My Prediction For Next 5 Months:$BTC: $140K-$200K+$ETH: $5K-$10K$BNB: $1500-$3000$SOL: $300-$600$XRP: $5-$10$WKC: $0.00001-$0.0001$FLOKI: $0.01-$0.1$SHIB: $0.001-$0.01$MANYU: $0.00001-$0.0001$CREPE: $0.001-$0.01$LUNC: $0.001-$0.01$SUI: $6-$10$PI: $5-$15$DTG:…

— 𝓜𝓮𝓶𝓮 𝓦𝓱𝓪𝓵𝓮 (@MeMeWhAle0) November 28, 2025

Willie has even suggested XRP could one day rival the US dollar in global trade, implying market caps as high as $100 trillion. Most experts call that extremely unlikely.

Skeptics say those projections far outstrip reality and demand hard evidence before accepting ideas about coordinated price suppression or ultra-high future valuations.

Institutional accumulation could be happening — it’s plausible — but there’s no airtight proof yet. Investors should weigh on-chain data and credible analysis against hype and bold forecasts. In short: interesting signs, but tread carefully.

Featured image from Unsplash, chart from TradingView

The digital asset landscape has matured significantly over the past several years. Simple spot holding is no longer the only viable strategy for generating substantial returns. Today’s market rewards precision, algorithmic discipline, and above all else, liquidity.

For skilled traders, the barrier to entry is rarely knowledge. Instead, it is capitalization. A trader may possess a strategy with a high Sharpe ratio and disciplined risk management, yet find their growth stunted by a personal account size that renders the math irrelevant.

This disconnect between skill and capital has given rise to a sophisticated ecosystem of crypto proprietary trading. The concept extends far beyond simply borrowing funds. It represents access to institutional-grade infrastructure that bridges the gap between retail speculation and professional execution.

The Capital Efficiency Paradox

Why do profitable traders fail to scale?

The answer often lies in mathematics rather than market movement. A trader operating with a 5,000 USDT personal account must take outsized risks to generate a livable income. This frequently leads to over-leveraging positions to the point of ruin. In contrast, a trader managing a funded account of 200,000 USDT can target conservative, low-variance moves and still generate substantial returns.

This dynamic creates what we might call the efficiency paradox: having more capital allows a trader to take less risk while making more money. By utilizing a proprietary firm’s resources, the focus shifts from desperate account flipping to sustainable wealth generation. The pressure to hit “home runs” evaporates entirely, replaced by the professional pursuit of consistent base hits.

Psychological Detachment as an Edge

When personal savings are on the line, emotional attachment distorts decision-making in profound ways. The fear of loss triggers the amygdala, causing traders to cut winners early. Even worse, it often leads to revenge trading after a loss. Proprietary trading constructs a firewall between the trader’s lifestyle and their trading capital, fundamentally changing the psychological equation.

In a funded environment, the downside is capped at a defined level. A trader might face a drawdown limit, but they are not risking their mortgage payment or emergency savings. This psychological freedom allows for the execution of strategies with cold, calculated precision. When the risk is systemic rather than personal, the trader can finally operate with the objectivity required to extract value from volatile markets.

Evaluating the Execution Environment

Not all funding models are created equal, and the differences matter significantly. In the early days of prop trading, firms were largely focused on Forex. They treated crypto as an afterthought, offering poor spreads and artificial slippage. The modern crypto trader requires a specialized environment built specifically for digital assets. If the underlying technology does not mirror live exchange conditions, the strategy is doomed to fail regardless of its theoretical merit.

A robust trading infrastructure must offer direct access to order books without intermediaries. Whether a trader is scalping Bitcoin perpetuals or navigating complex options strategies, the execution must be instantaneous.

This is where the distinction between a simulation and a career-building platform becomes evident. Identifying the best crypto prop trading firm requires careful examination of the execution model. The key is looking for firms like HyroTrader that route through major liquidity providers like ByBit or Binance rather than internal dealing desks that trade against their clients.

The Importance of True Market Data

A chart is only as good as its data feed, and this principle cannot be overstated. Artificial “wicks” designed to stop out retail traders are a hallmark of inferior platforms that prioritize their own profit over trader success. Professional prop firms utilize real-time data streams that ensure what a trader sees on the chart matches the global order book with complete accuracy.

For algorithmic traders and those utilizing automated bots, this transparency is non-negotiable. Strategies that rely on technical levels or high-frequency inputs cannot function properly if the price feed is manipulated or delayed. The ability to integrate tools like TradingView or connect via API directly to the exchange liquidity is what separates a gamified experience from a professional trading operation.

Meet HyroTrader

Founded in 2022 and based in Prague, HyroTrader is a proprietary trading firm specializing in cryptocurrency for traders. The company offers funded accounts of up to 200,000 USDT, which can be scaled to 1 million USDT with consistent performance.

Traders utilize real-time data to trade on ByBit or Binance through CLEO, ensuring authentic trading conditions. Profit sharing begins at 70% and can increase to 90%, with payouts made in USDT or USDC within 12-24 hours after earning $100 in profit.

Unlike many competitors, HyroTrader provides unlimited evaluation periods and refunds the challenge fee after the first payout, lowering entry costs. With over $2 million paid out and a global community, it offers a legitimate opportunity for skilled crypto traders to access institutional capital without risking personal funds.

Navigating Risk and Drawdown Constraints

The primary critique of proprietary trading is often the strictness of risk rules. However, these constraints are actually the training wheels of professionalism when viewed through the right lens. A 5% daily drawdown limit or a 10% maximum loss ceiling is not a trap designed to fail traders. It is a standard institutional risk parameter used by professionals worldwide. No hedge fund manager in the world is permitted to lose 20% of a portfolio in a single afternoon, and for good reason.

Learning to navigate these parameters is what refines a gambler into a genuine risk manager. The best environments offer unlimited time for evaluation, recognizing that quality trading cannot be rushed. The artificial pressure of a “30-day challenge” often forces traders to violate their own risk management rules just to beat the clock. Removing the time limit allows the trader to wait patiently for the highest probability setups, aligning their activity with market conditions rather than an arbitrary calendar deadline.

Scaling: The Path to Seven Figures

The trajectory for a crypto prop trader should not end at the initial funding stage. The true goal is scalability over time. A static account size eventually limits potential regardless of skill level, whereas a dynamic scaling plan rewards consistency and discipline.

Consider a roadmap that begins at 200,000 USDT. Through consistent performance, avoiding significant drawdowns, and hitting modest profit targets, a trader can see their allocation grow to 1,000,000 USDT. At this level, a profit split of 80% or 90% becomes genuinely life-changing, transforming trading from a side pursuit into a legitimate wealth-building vehicle.

The Cash Flow Advantage

Liquidity is king in any trading endeavor. In traditional finance, waiting 30 days for a wire transfer is standard practice. In the crypto ecosystem, money moves at the speed of the blockchain itself. Traders who live off their market returns require agility. They need the ability to request a withdrawal on a Sunday and receive USDT or USDC within hours rather than weeks.

This fluidity turns trading from a speculative venture into a reliable business operation with predictable cash flows. When profits can be realized and withdrawn immediately upon hitting a threshold, the feedback loop of success is powerfully reinforced. It allows the trader to compound their personal net worth steadily while leaving the firm’s capital at work in the markets.

The Future of Decentralized Opportunity

The convergence of cryptocurrency volatility and proprietary capital offers a unique moment in financial history. It allows individuals with skills to act as institutional players, regardless of their geographic location or personal net worth. The playing field has never been more level for talented traders seeking meaningful opportunities.

Whether employing high-frequency trading bots, executing manual price-action strategies, or hedging with options, the vehicle matters as much as the driver. By leveraging significant capital without personal risk, utilizing direct exchange execution, and operating within professional risk parameters, traders can unlock the full potential of the crypto markets. The era of the undercapitalized retail trader is ending. The era of the funded professional has arrived.

Disclaimer: This is a sponsored post. CryptoSlate does not endorse any of the projects mentioned in this article. Investors are encouraged to perform necessary due diligence.

The post Why Pro Traders Choose Crypto Prop Firms appeared first on CryptoSlate.

Bitcoin’s big buyers seem to have stepped off the gas.

For the better part of the last year or so, it felt like there was a constant tailwind behind Bitcoin’s price. ETFs vacuumed up coins, stablecoin balances kept climbing, and traders were willing to go to insane levels of leverage to bet on more upside. NYDIG called these the “demand engines” of the cycle in its latest report. The company argued that several of those engines have reversed course: ETFs are seeing net outflows, the stablecoin base has stalled, and futures markets look cautious.

That sounds rather ominous if you only read the headline. Unfortunately, as always, the truth is always somewhere in the middle. We will walk through each of those engines, keep the focus on dollars in and out, and end with the practical question everyone cares about: if the big machines are really slowing, does it break the bull market or slow it down?

When the ETF hose stops blasting

The simplest engine to understand is the ETF pipe. Since their launch in January 2024, spot Bitcoin ETFs in the US have brought in tens of billions of dollars in net inflows. That money came from advisers, hedge funds, family offices, and retail investors who chose a brokerage ticker as their preferred method of Bitcoin exposure. The crucial detail is that they were net buyers almost every week for most of the year.

But that pattern broke over the past month. On several days in November, the ETF complex logged heavy redemptions, including some of the largest outflows since launch. A few of the funds that had been reliable buyers (think BlackRock) flipped to net sellers. For anyone looking at a single day of data, it sure could have felt like the entire ETF market blew up.

The longer view is, of course, less dramatic but important nevertheless. Cumulative flows are still deeply positive, and all funds still hold a huge pool of Bitcoin. What changed is the direction of marginal money: instead of new cash flowing steadily in, some investors are taking profits, cutting exposure or moving into other trades. That means spot price no longer has a constant mechanical buyer sitting underneath it.

A lot of that behavior is tied to how investors now hedge and manage risk. Once regulators allowed much higher position limits on ETF options (from 25,000 to 250,000 contracts), institutions could run covered-call strategies and other overlays on top of their ETF holdings. That gave them more ways to adjust risk without dumping shares, but also drained some of the pure “buy and hold at any price” energy. When price surged toward the top, some investors capped their upside for income. When price rolled over, others used the same options market to hedge instead of adding more spot.

The second engine sits in stablecoins. If ETFs are the Wall Street-friendly funnel into Bitcoin, stablecoins are the crypto-native cash pile that lives inside the system. When USDT, USDC, and peers grow, it usually means more fresh dollars are arriving or at least being parked on exchanges ready to deploy. For much of the last year, Bitcoin’s big legs higher lined up with a growing stablecoin base.

That pattern is wobbling, as the total stablecoin supply has stopped growing and even shrunk a little in the past month. Different trackers disagree on the exact amount, but the drop is clear enough. Some of that can be put down to simple risk reduction: traders pulling money out of exchanges, funds rotating into Treasuries, and smaller tokens losing market share. But some of it is real withdrawal of capital from the market.

The takeaway here is straightforward: the pool of digital dollars that can chase Bitcoin higher is no longer expanding. That doesn’t automatically push price down, but it does mean every rally has to be funded out of a more or less fixed pot. There’s less “new money” sloshing around on exchanges that can instantly flood into BTC when sentiment turns.

The third engine lives in derivatives. Funding rates on perpetual futures are a fee that traders pay to keep those contracts in line with spot price. When funding is strongly positive, it usually means many traders are long with leverage and are paying to stay that way. When funding goes negative, shorts are paying longs and the market is skewed toward bets on downside. The “basis” on regulated futures like CME is simply the gap between futures and spot. A big positive basis usually shows strong demand to be long with leverage.

NYDIG points out that both of these gauges have cooled. Funding on offshore perpetuals has flipped negative at times. CME futures premia have compressed. Open interest is lower than it was at the peak. This tells us a lot of leveraged longs were washed out in the recent drawdown and haven’t rushed back. Traders are more cautious, and in some pockets they’re now willing to pay for downside protection instead of upside exposure.

This matters for two reasons. First, leveraged buyers are often the marginal force that takes a move from a healthy uptrend to a vertical blow-off. If they’re nursing losses or sitting on the sidelines, moves tend to be slower, choppier and significantly less fun for anyone hoping for instant all-time highs. Second, when leverage builds in one direction, it can amplify both gains and crashes. A market with less leverage can still move a lot, but it’s less prone to sudden air pockets triggered by liquidations.

So if ETFs are leaking, stablecoins are flat, and derivatives traders are cautious, who’s on the other side of this selloff?

Here is where the picture becomes more subtle. On-chain data and exchange metrics suggest that some long-term holders have used the recent volatility to take profits. Coins that sat dormant for long periods have started to move again. At the same time, there are signs that newer wallets and smaller buyers are quietly accumulating. Some address clusters that rarely spend have also added to their balances. And some retail flows on large exchanges still lean toward net buying on the worst days.

That is the core of NYDIG’s “reversal, not doom” framing. The most visible, headline-friendly demand engines have shifted into reverse just as price cooled. Underneath that, there’s still a slow transfer from older, richer cohorts to newer ones. The flow of this money is choppier and less mechanical than the ETF boom period, which makes the market feel harsher for anyone who arrived late. But it isn’t the same thing as capital vanishing altogether.

What this actually means for you

First, the easy mode is more or less gone for now. For much of the year, ETF inflows and growing stablecoin balances acted like a one-way escalator. You didn’t need to know much about futures funding or options limits to understand why price kept grinding higher, because new money kept arriving. That background bid has faded and, in some weeks, flipped into net selling, making drawdowns feel heavier and rallies harder to sustain.

Second, a slowdown in demand engines does’t automatically kill a cycle. Bitcoin’s long-run case still revolves around fixed supply, growing institutional rails and a steady expansion of places where it can sit on balance sheets, and those structures are still in place.

What changes is the path between here and the next high. Instead of a straight line driven by one giant narrative, the market will start trading more on positioning and pockets of liquidity. ETF flows may swing between red and green, stablecoins may bounce around a plateau instead of sprinting higher, and derivatives markets may spend more time in neutral. That kind of environment rewards patience more than bravado.

Finally, if you zoom out, reversals in the demand engines are part of how every cycle breathes. Heavy inflows set the stage for overextension, but then outflows and cooling leverage force a reset. New buyers arrive at lower prices, usually quieter and with less fanfare. NYDIG’s argument is that Bitcoin is somewhere in that reset phase, and the data supports that view.

The engines that drove the first leg of the bull run are running slower, some in reverse, but it doesn’t mean the machine is broken. It means the next leg will depend less on automatic pipes and more on whether investors still want to own this thing once the easy part has passed.

The post Bitcoin’s bull market: A slowdown, not a breakdown appeared first on CryptoSlate.

Bitcoin briefly plunged below $87,000, wiping out a week’s gains in one session.

The fast selloff triggered $400 million in liquidations within just 60 minutes and pushed the global crypto market capitalization down 4% to $3.04 trillion. Trading activity surged as both retail and institutional investors reacted swiftly to price pressure.

Market Turmoil Sparks Massive Liquidations

Liquidations surged across leveraged positions, reflecting the speed of the downturn. Market data noted $400 million liquidated in just one hour. This rapid wave of losses highlights the risks for traders during sharp price moves.

Trading volume spiked to over $110 billion as investors adjusted their holdings. Bitcoin’s dominance stood at 57.1%, while Ethereum held 11.3%, according to CoinGecko data.

The Kobeissi Letter attributed the crash to thin weekend liquidity and record-high leverage, saying, “This crypto bear market is still structural in nature. We do NOT view this as a fundamental decline.” The analyst noted that Bitcoin fell $4,000 in minutes with no news. This triggered a domino-effect selloff amplified by mass liquidations of leveraged positions.

Other analysts have warned that Bitcoin’s price pattern resembles earlier bearish cycles. Following a recovery above $90,000 after a drop on November 20, Bitcoin hovered around $91,208.85 on November 28 and maintained support at $90,000 for six days.

Korbot Labs describes that the current price action echoes April 2024, when Bitcoin bounced back above $70,000 only to drop to $57,000 by May and later to $67,000 by June. This pattern suggests that further sideways movement or another correction is possible.

Another analyst cautioned about the risk of deeper losses, noting that a “wipe out” could occur if Bitcoin falls through the $80,000 support level.

“Bitcoin not a good open to start the week! Much closer to becoming 2-1-2d as a measured move. This tends to cause a ‘wipe out’ type move if we successfully break through 80.00. Could see as low as 48k if we see the sellers stick around into the end of this year.”

Technical analysis also points to crucial support zones. Should selling persist, prices could slip much further. A drop to $48,000 would mark a dramatic 45% decline from current levels, but such a move would likely require sustained bearish sentiment.

Asset Rotation Narrative Shapes Sentiment

Some analysts see Bitcoin’s selloff as part of a broader shift in asset allocation. The move came as traditional safe-haven assets like precious metals outperformed. This suggests some investors are reconsidering their risk exposure.

This argument states that capital is flowing from digital assets to “hard money” alternatives. Silver, for example, surged even as Bitcoin fell. Some analysts see this as a sign of changing investor preferences.

“While #Bitcoin just erased most of the last week gain in a single candle, #Silver is breaking out vertically like there’s no tomorrow. Money is choosing real assets over speculative assets. The rotation is screaming loud: Paper wealth → Hard money, Digital risk → Monetary metals” – Macrobysunil

This theory remains hotly debated. Bitcoin has repeatedly rebounded from steep selloffs. Its 57.1% market dominance shows it still attracts most digital asset flows, despite volatility.

Meanwhile, on the first day of December, Bitcoin briefly dipped below $87,000 before quickly recovering. At the time of writing, Bitcoin is trading in the $87,200–$87,400 range, with market participants closely watching whether the $87,000 support level will hold.

The post Bitcoin Dips Below $87K: One Week’s Gains Gone in One Candle appeared first on BeInCrypto.

MicroStrategy Chairman Michael Saylor’s cryptic post, “What if we start adding green dots?” to his well-known Bitcoin accumulation chart, has fueled widespread speculation across crypto circles.

The signal emerges just as CEO Phong Le publicly acknowledged, for the first time, that the company may sell Bitcoin under certain stress conditions. This dual narrative could mark a turning point for the corporate world’s most aggressive Bitcoin treasury strategy.

Decoding the Green Dots Mystery

Saylor’s Sunday post on X displayed the company’s Bitcoin portfolio chart. It outlined 87 purchase events totaling 649,870 BTC, valued at $59.45 billion, with an average cost of $74,433 per Bitcoin. Orange dots mark each acquisition since August 2020, while a dashed green line shows the average purchase price.

The crypto community quickly interpreted the green dots as a signal for accelerated Bitcoin purchases. One analyst summarized the bullish case, noting MicroStrategy has capital, conviction, substantial net asset value, and cash flow to support continued acquisitions. However, some offered alternative theories, including the possibility of stock buybacks or asset restructuring.

This ambiguity reflects Saylor’s history of cryptic messages. Supporters view his posts as deliberate signals of strategy, while skeptics question if they are merely for engagement. Still, the timing of this signal, along with financial disclosures, points to more than mere commentary.

First Admission: Bitcoin Sales Remain an Option

In a significant shift from MicroStrategy’s “never sell” philosophy, CEO Phong Le publicly admitted the company may sell Bitcoin if certain crisis conditions arise. MicroStrategy would consider a sale only if two triggers occur: the stock trades below 1x modified Net Asset Value (mNAV) and the company cannot raise new capital through equity or debt.

Modified Net Asset Value measures the company’s enterprise value divided by its Bitcoin holdings. As of November 30, 2025, the mNAV was near 0.95, close to the threshold. If it drops below 0.9, MicroStrategy could be pressured to liquidate Bitcoin to meet its $750 to $800 million annual preferred share dividend obligations.

The company issued perpetual preferred stock throughout 2025 to fund Bitcoin acquisitions. According to official press releases, the 8.00% Series A Perpetual Strike Preferred Stock requires quarterly dividends starting on March 31, 2025. These ongoing obligations add new liquidity pressure, especially as equity markets become less receptive to new issuances.

This policy change introduces a measurable risk threshold. Analysts now consider MicroStrategy much like a leveraged Bitcoin ETF: benefiting from appreciation in bull markets, but exposed to amplified risks when liquidity tightens.

Bitcoin Price Movement and Strategic Implications

Bitcoin’s recent price movement adds essential context to both Saylor’s message and Le’s admission.

MicroStrategy’s portfolio showed a 22.91% gain ($11.08 billion) as of November 30, 2025, bringing its valuation to $59.45 billion. However, its stock declined by more than 60% from recent highs, revealing a gap between Bitcoin gains and shareholder returns. This gap impacts the mNAV calculation and raises questions about the strategy’s sustainability.

Some community members acknowledge this tension. One observer commented on X that green dots may suggest more Bitcoin acquisitions, but the key issue is whether MicroStrategy can hold through deep drawdowns without forced liquidation. This underscores the strategy’s challenge: strong in bull markets but unproven in downturns.

According to the company’s third-quarter 2025 financial results, it held roughly 640,808 bitcoins as of October 26, 2025, with an original cost basis of $47.4 billion. The subsequent growth to 649,870 BTC by November 30 highlights ongoing accumulation despite volatility.

The post What Do Saylor’s Green Dots Mean? Secret Trigger? appeared first on BeInCrypto.

Spot Bitcoin ETFs (exchange-traded funds) are one of the biggest narratives and have been a game-changer in the cryptocurrency space in the past two years. With these investment products, people get to participate in the cryptocurrency market without having to directly own the digital assets.

Interestingly, one of the biggest winners—that often gets overlooked—has been the issuers, especially as the crypto industry has seen increased institutional adoption since the Bitcoin ETFs launched. According to the firm’s executive, the BTC exchange-traded funds becoming the major source of revenue for BlackRock, the world’s largest asset manager, was not envisioned.

BlackRock’s Bitcoin Funds Outweighing Expectations 

At the Blockchain Conference 2025 in São Paulo on Friday, November 28, BlackRock’s business development director in Brazil, Cristiano Castro, told reporters that the Bitcoin ETFs are the largest revenue source for their company. According to the executive, this development came as a “big surprise” to the asset management firm.

Castro said in a statement:

We were very optimistic when we launched, but we didn’t believe it would reach such proportions. Just to give you an idea, it [IBIT in the US and IBIT39 in Brazil – the asset’s reference names] came very close to US$100 billion [in allocation].

This feat is notable for the Bitcoin ETFs, especially considering that BlackRock offers more than 1,400 exchange-traded products globally and has a whopping $13.4 trillion in assets under management. The US-based Bitcoin fund (with the IBIT ticker) has over $70.7 billion in net assets, becoming the first ETF to reach the $70-billion mark (doing so in June 2025).

While the US Bitcoin ETF market has somewhat slowed down, BlackRock’s IBIT still continues to outpace other ETFs launched in recent years. As earlier reports suggested, IBIT had managed to generate roughly $245 million in annual fees as of October 2025.

Bitcoin ETF Outflows ‘Perfectly Normal’ – Castro

When asked about the recent outflows from BlackRock’s Bitcoin ETF as the market leader’s value fell, the director stated that there are zero surprises in that trend. “ETFs are very liquid and powerful instruments, and they serve precisely to allow people to allocate their capital and manage their cash flow,” Castro noted.

The BlackRock director said that the withdrawals are expected, considering that the product is heavily owned by retail investors, who are reactionary in nature to price corrections. On Friday, the iShares Bitcoin Trust saw a net outflow of $113.72 million, bringing the weekly record to a negative $137.01 million and the fund to its fifth-consecutive week of withdrawals.

Featured image from Getty Images, chart from TradingView

Binance founder Changpeng Zhao’s blunt reminder about buying low and selling high landed at a tense time for crypto traders. His line — “Sell when there is maximum greed, and buy when there is maximum fear” — was posted as markets showed fresh signs of strain and debate over whether now is a buying moment or another stall.

CZ’s Message Meets Extreme Fear

According to the Crypto Fear & Greed Index, sentiment recently climbed to 20, moving out of “Extreme Fear” after a streak of low readings. The index had hit a yearly low of 10 on Nov. 22 and the market had spent eighteen days stuck in extreme fear.

Unpopular opinion, but it’s better to sell when there is maximum greed, and buy when there is maximum fear.

— CZ BNB (@cz_binance) November 29, 2025

Analysts called that stretch unusually deep. Matthew Hyland described it as the “most extreme fear level” of the cycle, and other traders argued that calling it extreme was being generous.

Bitcoin Holds But Mood Is Fragile

Based on reports, Bitcoin was trading at $91,780, a far cry from the all-time high of $126,000 reached in October. Prices remain up from 2024 lows of just over $40,000, yet confidence is thin.

Santiment tracked online chatter and found talks focused more on volatility and institutional moves than on excitement. The Altcoin Season Index sat at 22/100, a clear sign that traders are favoring safety.

Traders reacted fast to CZ’s post. One user said emotion often beats logic in real trading. Another noted that markets tend to move on psychology well before technical signals line up. That gap between what traders know and what they do was on full display: many agree with the rule, and few actually follow it when prices slip.

Reports have disclosed that some analysts see a pattern. Nicola Duke pointed out that in the last five years, every time the market reached extreme fear, Bitcoin found a local bottom within weeks.

While past stretches can offer context, they do not promise the same result now. Bitwise researcher André Dragosch warned that current pricing reflects a recession-level global growth outlook — the most bearish setting since 2020 and 2022 — which raises real risk for buyers.

Meanwhile, the Bitcoin (BTC) Coinbase premium finally flipped back into positive after nearly a month of staying in the red.

Data from Coinglass on the 30th showed the premium at 0.0255%, marking the first positive reading in 29 days. For almost a month, the negative premium had suggested that selling pressure dominated the US market, with traders and investors leaning toward caution.

The Coinbase premium tracks how Bitcoin’s price on Coinbase, a major US exchange, compares to the global average. When it’s positive, it means the US price is above the worldwide average.

This is often seen as a sign that buying is picking up in the US, more institutions are getting involved, dollar liquidity is recovering, and overall investor confidence is improving.

Featured image from Gemini, chart from TradingView