Your clear, simple and actionable weekly crypto market update — fully updated after the fresh market crash on 1 December 2025.
🧭 1. Market Snapshot (as of 1 December 2025)
Bitcoin (BTC): After spending most of the week in the $91K–$92K range, Bitcoin suddenly plunged over 5% in early Asian trading today, dipping below $87,000 before stabilising. This renewed sell-off liquidated hundreds of millions in leveraged longs across major exchanges.
Ethereum (ETH): ETH dropped more than 6%, falling toward the $2,800–$2,900 zone — erasing its rebound from last week.
Overall trend: What looked like post-liquidation consolidation has now shifted into a fresh risk-off move. Volatility is back, and heavy leverage remains a problem.
Leverage & funding: Roughly US$646 million in leveraged long positions were liquidated early today, signalling that markets remain fragile.
SPI takeaway: This weekly crypto market update shows that we are still in a “deleveraging phase.” For investors, this is a time to stay calm, avoid leverage, and focus on long-term positioning instead of trying to time every dip.
🔟 2. Top 10 Crypto Stories You Should Know This Week
1. Fresh Bitcoin Crash: BTC Falls Below $87K as December Begins
What happened: Bitcoin dropped sharply in early Asian trading, falling under $87K and triggering widespread liquidations across exchanges. ETH, XRP and most altcoins followed with heavy downside.
Why it matters: The drop erased much of the recovery seen last week, confirming that the market structure remains fragile. Sentiment is risk-off until inflows return.
Most impacted tickers: BTC, ETH, large-cap altcoins
2. November’s Massive Flush: BTC Near $80K Lows Before Rebounding
What happened: Earlier this month, Bitcoin slid into the low $80Ks — the worst monthly drawdown since 2022 — liquidating nearly $2B in long positions. Last week’s recovery back above $90K has now been challenged by today’s new sell-off.
Why it matters: Massive liquidations reset leverage across BTC, ETH, SOL, ADA and other majors — but the rebound wasn’t strong enough to hold.
Most impacted tickers: BTC, ETH, SOL, ADA, XRP
3. ETF Outflows & Shrinking Stablecoin Supply Signal Capital Leaving Crypto
What happened: Spot Bitcoin ETFs, which powered much of the 2024–2025 bull cycle, turned into net outflow mode. At the same time, USDT and USDC supply stopped expanding and even contracted.
Why it matters: Instead of rotating money inside crypto, capital is now leaving the ecosystem entirely — especially dangerous during periods of high volatility.
Most impacted: BTC, ETH, USDT, USDC
4. Spot BTC ETFs Hit Record Volume — But Not For Good Reasons
What happened: Spot BTC ETFs recorded nearly $40B in weekly volume. But this came while prices were falling, meaning it was likely institutional de-risking, not fresh buying.
Why it matters: High volume on declining price = exit behaviour. This is another reason why the rebound didn’t hold.
Most impacted tickers: BTC, ETF-related equities
5. Relief Rally Fizzles — Market Structure Still Fragile
What happened: BTC reclaimed $90K last week and altcoins like ETH, XRP and SUI bounced sharply. But today’s crash wiped most of those gains.
Why it matters: Relief rallies are common after big flushes — but they often fail without strong inflows to support them.
Most impacted tickers: BTC, ETH, XRP, SUI, broad altcoin majors
6. Options Traders Still Betting on BTC > $100K
What happened: Options markets show nearly $1.7B in open interest positioned for BTC above $100K by year-end — but not expecting a new all-time high.
Why it matters: The options market is pricing in controlled bullishness — but today’s downside volatility reminds everyone that macro risk can shake out even well-positioned traders.
Most impacted tickers: BTC, options markets, high-beta alts
7. Cardano Chain Split: Deserialization Bug Exploited
What happened: Cardano suffered a brief chain split caused by an old 2022 bug triggered by a malformed delegation transaction. The network has since been patched.
Why it matters: Even top-10 L1s can break under targeted stress — especially when attackers use AI-assisted methods.
Most impacted tickers: ADA
8. Ledger CTO Issues Warning on Zero-Click Spyware
What happened: Ledger’s CTO warned of new device-level zero-click exploits that allow attackers to compromise phones or laptops through apps like WhatsApp, Telegram or Signal — without the user tapping anything.
Why it matters: This is not a wallet bug — it’s a device threat. Even hardware-wallet users are at risk if their phone or computer is compromised.
Most impacted: All self-custody users
9. ESMA Updates MiCA Non-Compliant List
What happened: The European regulator (ESMA) updated its “non-compliant entities” list — naming firms operating in the EU without authorised MiCA licensing.
Why it matters: This marks the shift from MiCA theory to MiCA enforcement. Exchanges must comply or exit.
Most impacted: EU-facing exchanges, CASPs, stablecoin issuers
10. XRP Spot ETF Launch Underwhelms
What happened: Grayscale’s new XRP ETF launched — but price dipped instead of pumping.
Why it matters: This confirms that “ETF listing = pump” is no longer guaranteed. Flows > headlines.
Most impacted tickers: XRP
📉 3. ETF, Flows & Liquidity Watch
- BTC ETFs: Net outflows continue — acting as exit liquidity.
- Stablecoins: Supply growth is slowing or shrinking.
- Derivatives: Funding rates neutralised after the crash.
- Exchange volume: Spiked hard during the sell-off, now cooling.
SPI insight: Real bottoms form when: leverage is flushed + funding normalises + inflows return. We’ve seen the flush. Now we watch for inflows.
🛡️ 4. Security & Risk Corner
Zero-Click Threats: Your Device Is the Real Attack Surface
New zero-click vulnerabilities mean attackers can compromise messaging apps without user interaction.
SPI action steps this week:
- Use a separate device or browser profile for wallet activity.
- Never store seeds or screenshots on your everyday phone.
- Update your OS and apps regularly.
🏛️ 5. Regulation & Policy Watch
- EU: MiCA enforcement is accelerating. Non-compliant exchanges may be forced out.
- U.S.: Major reforms (stablecoins, market structure) likely postponed to 2026.
- Asia & Middle East: Regulatory sandboxes attract RWAs, L2s and exchanges.
SPI insight: Regulation is now a competition between regions. Watch where big projects choose to launch.
📈 6. Narrative Movers This Week
- L1 Resilience Hit: Cardano bug shows old vulnerabilities still matter.
- Security Narrative Up: Ledger warnings highlight device protection.
- ETF Narrative Normalising: Headlines alone don’t move markets anymore.
- Onshore Derivatives Rising: Coinbase expands U.S.-regulated altcoin futures.
💡 7. SPI Action Steps for Investors This Week
- 1. Don’t confuse volatility with trend change.
- 2. Audit your security setup. Treat your device as compromised by default.
- 3. Avoid leverage. Market is still unstable.
- 4. Re-check your DeFi positions. Use structured risk frameworks.
- 5. Use drawdowns wisely. Rebalance slowly — don’t chase bottoms.
For safer DeFi income, read:
10-Step DeFi Safety Checklist
If you’re starting small, here’s your step-by-step plan:
How to Start with Even R100
📰 8. Sources
This weekly briefing draws on CoinDesk, Bloomberg Crypto, Reuters, The Block, FX data and on-chain analytics — combined with SPI’s educational analysis.
Nothing in this article is financial advice. It is educational market intelligence to help you think clearly and act safely.
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