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  • Texas buys $5mn BTC ETF, pushes for Bitcoin reserve plan

    Texas buys $5mn BTC ETF, pushes for Bitcoin reserve plan

    Texas pushes crypto strategy with new Bitcoin reserve plan

    • The state legislation sets aside $10 million for Bitcoin accumulation.
    • Texas is preparing a formal tender to choose a custodian for the reserve.
    • New Hampshire authorised a Bitcoin reserve and approved a $100 million Bitcoin bond.

    Texas is moving ahead with one of the most ambitious state-level crypto strategies in the country as it begins shaping the framework for a government Bitcoin reserve.

    The state has now taken its first formal step by acquiring $5 million in shares of BlackRock’s iShares Bitcoin Trust.

    The purchase is part of a wider plan triggered by legislation passed earlier this year, which allocated $10 million for future Bitcoin accumulation.

    The early activity positions Texas to become the first US state to hold a dedicated cryptocurrency reserve, giving it a lead in a growing competition among states exploring digital asset policies.

    Texas builds foundation for Bitcoin reserve

    The state has been gathering information from the cryptocurrency industry to help design how its reserve will operate.

    The review began after Texas issued a request for information in September seeking guidance on best practices for storage, security, and management.

    Industry groups sent detailed submissions covering custody models, investment structures, governance frameworks, and security systems.

    The process is part of a wider effort to ensure the reserve can be managed with clear procedures once it transitions from planning to execution.

    Texas officials are expected to follow this phase with a formal request for proposal.

    The tender will be used to select a custodian and determine the final operational rules for the programme.

    The recent $5 million allocation acts as a temporary measure rather than direct Bitcoin ownership while the state completes its selection process, according to a CoinDesk report.

    States explore government crypto strategies

    Other states have also gained exposure to Bitcoin, though through different channels.

    Michigan and Wisconsin accessed cryptocurrency markets through public-employee retirement funds.

    Wisconsin sold a $350 million allocation in May, according to public records.

    These moves reflect growing institutional interest at the state level, even in cases where governments have not yet adopted dedicated reserves.

    Several states are actively studying the idea of holding Bitcoin for strategic purposes.

    New Hampshire has authorised the creation of a government Bitcoin reserve, although it has not yet made any purchases.

    Last week, the New Hampshire Business Finance Authority approved a $100 million Bitcoin bond designed to support an economic development fund backed by cryptocurrency.

    The structure relies on private sector activity rather than direct state accumulation.

    Early development continues nationwide

    Arizona is also taking steps toward a government-level reserve.

    Its legislation directs unclaimed cryptocurrency assets held by the state into a dedicated reserve.

    The plan creates an initial legal foundation that could support future accumulation, although the full reserve framework is still in development.

    These early efforts reflect a rising interest among states in integrating digital assets into long-term financial planning.

    The state-level activity is unfolding alongside federal discussions.

    President Donald Trump has publicly supported the idea of a national Bitcoin investment strategy.

    The administration has issued an executive order directing officials to begin planning for a federal reserve structure.

    Government teams working on the project are now waiting for congressional approval before advancing to the next stage.

    Texas sets the pace in state crypto adoption

    Texas remains the most advanced of the state-level initiatives due to its legislative backing and its first confirmed investment.

    The move signals a shift from exploratory interest to practical implementation, with a structured plan for selecting custodians and defining reserve operations.

    The next steps will determine how the state transitions from temporary allocations to direct Bitcoin ownership once contracts and governance systems are finalised.

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  • Bitcoin under pressure as ETF outflows and margin liquidations drive sharp selloff

    Bitcoin under pressure as ETF outflows and margin liquidations drive sharp selloff

    Bitcoin under pressure

    • Bitcoin ETF outflows and shrinking liquidity intensified the recent BTC price decline.
    • Margin liquidations accelerated the selloff as key support levels broke.
    • Correlation with tech stocks added pressure amid broader risk-off sentiment.

    Bitcoin price has come under intense pressure in recent weeks, with the market enduring a deep pullback fueled by weakening demand, heavy ETF outflows, and a wave of forced liquidations.

    The downturn has erased months of gains and pushed traders to question whether the latest slide marks a temporary setback or the start of a deeper cycle reset.

    ETF outflows add fuel to the decline

    Bitcoin’s slide has been sharp and persistent since its early October peak above $126,000.

    Since the October peak, the cryptocurrency has shed almost $800 billion in value, sinking to levels last seen in the spring.

    ETFs, once a stabilising force for Bitcoin (BTC), are now driving additional weakness.

    BlackRock’s IBIT ETF, which previously absorbed sell-offs, has posted its largest monthly redemption on record, with $520 million leaving the fund.

    This reversal marks a shift in institutional sentiment and has become a major source of downward pressure.

    A recent NYDIG research highlights how ETF outflows, shrinking stablecoin supplies, and changing corporate treasury strategies are eroding the demand engine that supported Bitcoin earlier this year.

    Greg Cipolaro of NYDIG describes the current cycle as a “negative feedback loop,” in which factors that once boosted the market are now accelerating the downturn.

    This shift has placed Bitcoin under sustained selling pressure at a time when broader risk appetite is also weakening.

    A key part of this shift can be seen in the stablecoin market, where supplies have declined for the first time in months, with some tokens losing significant value after liquidation events.

    In addition, digital asset treasuries, once active Bitcoin buyers, are pulling back as they reduce liabilities through asset sales or share buybacks.

    These moves have contributed to a steady drain of liquidity across the crypto sector.

    Bitcoin price outlook

    From a technical standpoint, Bitcoin has plunged into oversold territory and printed a hammer candle, hinting at a potential swing low.

    Eyes are now on $88,500, which capped rallies earlier in the year and briefly halted last week’s selloff.

    A sustained break above it could create conditions for a short-term recovery, with targets near $94,000 and $95,000.

    However, that setup faces stiff resistance from broader market sentiment.

    Bitcoin’s tight relationship with risk assets adds another layer of complexity.

    The correlation between Bitcoin and Nasdaq 100 futures has climbed to unusually high levels, reaching near 0.96.

    When tech stocks fall, Bitcoin tends to follow, and recent turbulence tied to concerns over an AI bubble has weighed heavily on both markets.

    Bitcoin dominance has also slipped to multi-month lows, signalling that capital is drifting away from BTC and into either safer assets or high-risk alternatives.

    The market is also seeing increased volatility from margin liquidations.

    Leveraged positions, especially in perpetual futures, have magnified the recent moves.

    As Bitcoin fell below $87,000, more than $900 million in positions were wiped out, with longs taking most of the damage.

    Notably, liquidation cascades have become a recurring theme, deepening each leg lower.

    Furthermore, oscillating indicators, including the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), remain bearish, hinting that previous bounces have been sold into quickly.

    Bitcoin price analysis
    Bitcoin price analysis | Source: TradingView

    A drop below recent lows could open the door to a retest of the $76,000 region, where Bitcoin (BTC) stabilised during an earlier market shock linked to tariff fears.

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  • Bitcoin just hit a critical point: analysts split between $85K crash and $250K surge

    Bitcoin just hit a critical point: analysts split between $85K crash and $250K surge

    Bitcoin price just hit a critical point

    • Bitcoin trades near $92K amid mixed signals from ETFs and tech markets.
    • Hoskinson and Saylor predict a strong BTC rebound despite recent losses.
    • ETF outflows and macro risks could, however, push BTC toward $85K support.

    While Bitcoin price has recovered from the low of $88,540 hit on November 19, the question is whether it will hit a higher high than the $93,403 registered on November 18.

    Some analysts believe BTC is preparing for a deeper slide, while others insist a powerful rebound is already forming beneath the surface.

    At press time, BTC price was around $92,237 and already showing signs of exhaustion, which would spell doom since it formed a lower low on November 19, which is a bearish sign.

    Bullish calls grow despite the slide

    At $92,237, Bitcoin (BTC) is reeling from a bruising stretch that has erased more than $33,000 from its value in under two months.

    Notably, today’s uptick follows a pause in ETF outflows and a rebound in tech stocks, driven by Nvidia’s stronger-than-expected earnings.

    While the market remains on edge as macro uncertainty and shifting liquidity conditions continue to pressure risk assets, Cardano founder Charles Hoskinson remains one of the strongest voices calling for a major rebound.

    During CNBC’s Squawk Box show on Tuesday, Hoskinson argued that Bitcoin’s recent losses reflect broader macro distortions, including tariff tensions, recession risks, and uneven regulatory signals.

    Hoskinson believes these forces will ease in the coming months.

    He expects BTC to recover sharply and potentially hit $250,000 within the next year, projecting that institutional adoption and large-scale tokenisation will redefine market cycles.

    Michael Saylor shares a similar level of confidence, viewing the current downturn as typical of Bitcoin’s long-term behaviour.

    The MicroStrategy executive says the company is built to withstand extreme drawdowns, calling his position “indestructible” in a recent interview with Fox Business.

    Notably, Saylor has continued to buy BTC even as volatility increases, reinforcing his view that deep corrections are part of the broader path toward higher valuations.

    ETF activity has also become a pivotal factor.

    The BlackRock Bitcoin ETF posted a record $523 million daily loss on November 18 following a streak of outflows across the spot Bitcoin ETF landscape.

    Total Bitcoin Spot ETF Net Inflow
    Total Bitcoin Spot ETF Net Inflow | Source: Coinglass

    The Bitcoin ETFs outflow seems to have stabilised, with IBIT seeing $60M worth of inflows on November 19.

    Analysts warn that sustained inflows will be essential if Bitcoin hopes to avoid a retest of this week’s lows.

    Bearish risks still loom

    Not all signals point upward. Some traders see a real chance BTC could break below key support levels near $90,000.

    If the market fails to hold this support, prediction platforms indicate rising expectations of a drop toward $87,000.

    ETF outflows totalling more than $3 billion this month highlight lingering caution, and many retail participants remain hesitant after weeks of drawdowns.

    Macro conditions remain complicated.

    Expectations of Federal Reserve rate cuts have faded, while recession concerns are resurfacing due to weak jobs data and ongoing trade friction.

    These pressures have limited upside momentum even as Nvidia’s tech rally briefly boosted risk appetite.

    Despite the uncertainty, Bitcoin continues to trade like a high-beta asset tied closely to broader market sentiment, and the next few days may determine whether buyers regain control or whether sellers will test new lows.

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  • Bitcoin slides below $90K as crypto correction becomes one of the worst since 2017

    Bitcoin slides below $90K as crypto correction becomes one of the worst since 2017

    Bitcoin sinks below $90K as a sharp 43-day selloff wipes out 2025 gains, driven by liquidations, ETF outflows, and rising fear.

    • Bitcoin plunges below $90K, erasing all gains for 2025.
    • ETF outflows and leverage-driven liquidations deepen the selloff.
    • Sentiment hits “Extreme Fear” as crypto markets shed over $1T.

    Bitcoin crashed below $90,000 on Wednesday, marking a devastating 28% decline from its early October peak above $126,000.

    The plunge has erased all of crypto’s 2025 gains and pushed the largest cryptocurrency into bear market territory.

    Ethereum tumbled 6% to below $3,000, while the broader crypto market saw roughly $1.2 trillion in value evaporate over recent weeks.

    Analysts say this 43-day drawdown now ranks among the steepest corrections since 2017, with forced liquidations and ETF outflows accelerating the selloff.

    The unwind feels sudden, given that Bitcoin looked unstoppable just six weeks ago.​

    What makes this collapse particularly brutal is how thoroughly it dismantles the bull narrative. Trump was supposed to be the “crypto president.”

    The spot Bitcoin ETF was supposed to unlock institutional buying. Instead, Bitcoin is negative for 2025, down 2% after climbing as high as +35% in October.

    Investors who chased breakouts above $120,000 are now underwater. That kind of momentum reversal breeds panic and forces margin calls.​

    The liquidation cascade: Why leverage turned this into a bloodbath

    The mechanics of the crash tell you everything. K33 Research’s Vetle Lunde noted that “steady outflows from ETFs have also added fuel to the selloff.”

    US spot Bitcoin ETFs shed nearly $2.3 billion over five consecutive sessions. That’s redemptions from big institutions that are simply walking away. When the largest buyers start selling, smaller traders follow in a herd stampede.​

    The real damage comes from leverage. The government shutdown eliminated key economic data, creating a data vacuum.

    Without employment numbers and inflation prints, the Fed’s December rate-cut decision became genuinely uncertain. Suddenly, the “rate cuts will save crypto” thesis evaporated.

    Leveraged long positions got liquidated in cascading forced sales. When Bitcoin swept below the average cost basis of spot Bitcoin ETFs, algorithmic selling kicked in.​

    Sentiment has completely inverted. The Crypto Fear and Greed Index remains pinned at “Extreme Fear,” the lowest it has been.

    Retail investors who bought near $125,000 are watching unrealized losses mount. Long-term holders haven’t capitulated yet, but the on-chain data is starting to show cracks.​

    Where does Bitcoin bottom? Analysts map out ugly scenarios

    Lunde’s base-case scenario puts support between $84,000 and $86,000, but that’s if this correction mirrors recent downturns.

    If it gets worse, if it mirrors the two deepest corrections in the past two years, Bitcoin could revisit April’s lows near $74,000, where MicroStrategy’s average entry sits.​

    The truly bearish case opens the door to an 80% drawdown from recent highs. That would put Bitcoin in the $20,000–$25,000 zone, but analysts say that needs a full credit crisis to materialize.

    Right now, stocks are holding up. Risk assets aren’t in freefall. That limits how low crypto can go without broader carnage.​

    For now, Bitcoin is stuck between competing forces. Long-term holders are accumulating at these levels. Institutions aren’t panicking enough to dump entirely.

    But neither are they buying aggressively. Without a macro catalyst, a Fed pivot, tariff relief, or genuine AI-driven productivity gains, Bitcoin likely stays volatile and sloppy until early 2026.

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  • Bitcoin ATMs appear in Nairobi malls as Kenya’s new crypto law faces early compliance test

    Bitcoin ATMs appear in Nairobi malls as Kenya’s new crypto law faces early compliance test

    Bitcoin ATMs appear in Nairobi malls as Kenya’s new crypto law faces early compliance test

    • They appeared soon after the Virtual Assets Service Providers Act of 2025 took effect.
    • CoinATMradar currently lists two Bitcoin ATMs in Kenya.
    • The Central Bank of Kenya and the Capital Markets Authority say no VASP is licensed yet.

    Bitcoin ATMs have surfaced across major shopping malls in Nairobi, only days after Kenya activated its first comprehensive crypto law, creating an unexpected test for regulators who have not yet authorised any crypto provider to operate.

    The machines, branded Bankless Bitcoin, appeared beside traditional bank kiosks and offered cash to crypto services to shoppers.

    Their arrival coincides with the early phase of Kenya’s Virtual Assets Service Providers Act of 2025, which came into effect on 4 November and set the first formal rules for crypto businesses.

    Gaps in licensing

    Local outlet Capital News confirmed that multiple malls in Nairobi had new machines installed, expanding beyond earlier attempts to introduce crypto ATMs in Kenya.

    In 2018, The East African reported that BitClub deployed Bitcoin ATMs in the city, although the machines never reached mainstream retail spaces and adoption remained limited.

    Kenya currently has two reported Bitcoin ATMs, making the latest installations notable for their placement in high-traffic commercial environments.

    Regulators signal caution

    The new law assigns oversight responsibilities to two regulators. The Central Bank of Kenya will handle payment and custody functions, while the Capital Markets Authority will regulate investment and trading activity.

    However, the regulations required to begin licensing crypto firms have not yet been issued.

    In a joint notice released on Tuesday, the Central Bank of Kenya and the Capital Markets Authority stated that they have not licensed any VASP to operate in or from Kenya under the new Act.

    They also warned that companies claiming authorisation are doing so without approval.

    The National Treasury is developing the regulatory framework that will decide when licensing can begin, placing operators in a temporary environment where the law exists but permissions do not.

    This creates a visible gap. Bitcoin ATMs are entering public spaces even as regulators tell the public that no provider has met the requirements laid out in the law.

    The contrast places pressure on authorities to clarify enforcement and could shape how crypto firms approach compliance in the near term.

    Informal use grows

    The spread of Bitcoin ATMs into high end malls highlights Kenya’s evolving crypto landscape.

    Capital News reported that Bitcoin usage has long been active in lower income neighbourhoods such as Kibera, where residents use BTC as a form of banking in areas with limited access to formal financial services.

    People have relied on crypto to store value without extensive documentation or traditional banking infrastructure.

    The shift from informal areas to upscale malls suggests that consumer interest is expanding even while regulatory conditions remain unsettled.

    The coexistence of visible infrastructure and incomplete licensing rules places Kenya at an early crossroads as it moves from a largely informal crypto market to a regulated one.

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  • Kiyosaki defends Bitcoin and warns Wall Street as crypto volatility returns

    Kiyosaki defends Bitcoin and warns Wall Street as crypto volatility returns

    Kiyosaki defends Bitcoin and warns Wall Street as crypto volatility returns

    • Kiyosaki accused Wall Street of promoting paper assets that benefit insiders.
    • He said gold, silver, and Bitcoin provide value outside institutional control.
    • His Bitcoin forecast puts the price at $250,000 by 2026.

    As volatility grips the crypto market again, Rich Dad Poor Dad author Robert Kiyosaki has stepped up in defence of Bitcoin and decentralised assets.

    Amid renewed price swings and public doubt over digital currencies, Kiyosaki argued that Bitcoin remains a hedge against centralised financial systems and inflation.

    He described it as “people’s money,” contrasting it with what he calls “fake money” issued by the US Federal Reserve and Treasury.

    While Warren Buffett’s past criticisms labelling Bitcoin as “gambling” resurfaced online, it was Kiyosaki’s response that reignited debate across financial communities.

    His message was clear: the fault lies not with crypto, but with a broken fiat system that he believes Wall Street continues to uphold.

    Fiat risks and distrust in institutions

    Kiyosaki has long rejected the idea that centralised institutions should be the backbone of wealth.

    In his view, the real danger to investors is not Bitcoin’s volatility, but the ongoing reliance on a system driven by inflation and debt.

    He warned that assets like stocks and bonds, frequently promoted by institutional investors, are just as vulnerable to collapse.

    According to him, the core issue is trust. While traditional markets claim to offer safety, Kiyosaki sees them as tools that enrich the powerful while exposing regular people to risk.

    This, he argues, is why decentralised assets like Bitcoin and Ethereum are gaining ground—they provide financial autonomy in an unstable environment.

    He classifies gold and silver as “God’s money” and Bitcoin as “people’s money,” highlighting their independence from government control and printing presses.

    With Bitcoin capped at 21 million coins, Kiyosaki says it offers protection that fiat currencies simply cannot match.

    Kiyosaki’s challenge to the financial establishment

    As Wall Street continues to sell institutional products, Kiyosaki is urging people to reconsider what really holds value.

    He questioned how long investors can trust paper-based assets in a world where central banks can print currency without limits.

    He emphasised that real-world necessities cannot be replaced with financial abstractions.

    “You cannot live in a paper house, drive using paper fuel, or eat paper food,” he wrote, pointing to the artificial nature of fiat-based wealth.

    By comparison, assets like Bitcoin offer a limited-supply, decentralised alternative that he believes is better suited to survive economic instability.

    Bitcoin prediction and market direction

    Amid the broader market uncertainty, Kiyosaki has also made a bold forecast. He predicts Bitcoin could reach $250,000 by 2026, a significant rise from its current level around $95,600.

    While this projection is speculative, it aligns with his belief that decentralised assets will outperform as trust in fiat continues to erode.

    Though Warren Buffett’s view of Bitcoin as speculative persists, Kiyosaki’s message offers a pointed challenge to the financial status quo.

    His comments reflect a growing shift in investor sentiment, where control, transparency, and scarcity are seen as more valuable than institutional assurance.

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  • Bitcoin Cash price prediction: eyes on the $460 demand zone if support gives way

    Bitcoin Cash price prediction: eyes on the $460 demand zone if support gives way

    Bitcoin Cash price under bear preassure

    • Bitcoin Cash price is under selling pressure, testing support near $470.8 and $460.3.
    • Bitcoin pullback and market fear amplify downside risks for the BCH price.
    • Key resistance sits at $528.85, with potential upside if support holds.

    Bitcoin Cash price has come under significant pressure in the past 24 hours, with BCH slipping to $491.09 following a series of technical setbacks and broader market weakness.

    After failing to hold above the $530 resistance level, Bitcoin Cash (BCH) has seen selling momentum intensify, as a result of technical profit-taking and the influence of the Bitcoin price pullback.

    Eyes are now on whether BCH can stabilise above critical support levels or if the selling pressure will push the cryptocurrency toward lower demand zones.

    BCH struggles under resistance amid bear pressures

    On November 13, Bitcoin Cash surged to $532 but faced rejection at the $530–$532 zone, failing to sustain a breakout.

    The cryptocurrency’s inability to remain above the 200-day EMA at $510.56 led to a break below the crucial $515 support, triggering algorithmic sell orders.

    Technical indicators such as the MACD, which remains below its signal line, have reinforced bearish momentum, while a close below the 61.8% Fibonacci retracement at $500.23 has invalidated the short-term bullish structure.

    Traders should now watch closely for a reclaim of $515 to stabilise prices, although a drop below $480 could open the door to deeper corrections.

    Bitcoin price pullback drags BCH lower

    BCH had not been immune to the broader weakness in the crypto market.

    However, Bitcoin’s rejection near $107,000 caused capital rotation away from riskier altcoins, with Bitcoin Cash (BCH) showing a 30-day correlation of 0.89 to Bitcoin (BTC).

    This strong correlation amplified the downside, contributing to a 24-hour trading volume surge of 10.58% to $523 million as traders exited positions amid panic selling.

    Market-wide risk aversion has further fueled the decline, with derivatives data showing a 4.58% drop in BCH futures open interest and overall spot volumes falling by more than 21%, reflecting low conviction across the market.

    The Crypto Fear & Greed Index, sitting at 22, indicating “Extreme Fear,” has also intensified the bearish sentiment.

    Bitcoin Cash price short-term outlook

    On shorter timeframes, the 6-hour chart highlights heavy selling momentum as BCH nears critical support.

    The immediate support around $470.8 is under pressure, with a notable demand zone at $460.3 potentially acting as a floor for buyers.

    Resistance is positioned near $528.85, though the price has shown limited strength to test it.

    A confirmed reversal pattern above 470.8 could prompt a retracement toward $528.85, but without clear bullish signals, further decline toward the 460.3 demand zone is likely.

    Bitcoin price analysis
    Bitcoin price chart | Source: CoinMarketCap

    Traders are advised to watch for momentum shifts before entering new positions, as failure to hold support could result in accelerated downside movement.

    Longer-term resistance levels also frame the narrative for the BCH price.

    According to market analysis, holding above $473.62 is crucial for any upward movement toward $493.23, and surpassing that could pave the way to $528.85, with $544.23 marking the third resistance target.

    Conversely, if $473.62 fails to hold, BCH may slide toward the next support at $444.75, underscoring the importance of this critical level in guiding near-term market behaviour.

    Traders and investors should keep a close eye on momentum shifts, as failure to hold key support could lead BCH toward lower levels, while maintaining stability could allow for a measured rebound.

    For those tracking market dynamics, understanding the interplay between Bitcoin Cash price and broader crypto movements remains critical in anticipating potential swings and making informed decisions.

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  • Chainlink crashes below $14 as Bitcoin slumps to $95K, altcoin market bleeds heavily

    Chainlink crashes below $14 as Bitcoin slumps to $95K, altcoin market bleeds heavily

    ethere Price Bearish

    • Chainlink price fell by double digits to below $14 on Friday, losses that came amid broader market turmoil.
    • LINK’s dump aligned with the sharp dip for Bitcoin to under $96,000.
    • Further losses could see Chainlink price plunge towards $10.

    The cryptocurrency market is reeling under intense bearish pressure, with Chainlink (LINK) price plummeting below the $14 mark alongside huge dips for Bitcoin, Ethereum, and Solana.

    Bitcoin’s drop below $96,000, with bears touching $95,860, fueled losses for ETH and SOL, which fell 10% each to new multi-month lows.

    The selling pressure triggered a cascade effect, dragging other altcoins like Cardano and Chainlink into the red.

    LINK is at risk of registering a deeper rout.

    Chainlink dips below $15

    Chainlink (LINK) price is among the top coins to suffer a dramatic fall as Bitcoin’s crash to a six-month low below $96,000 slammed sentiment hard.

    LINK traded at $14.08 as of the early US market session on Friday, down 11% in the last 24 hours. According to CoinMarketCap data, the double-digit loss extends the altcoin’s plunge in recent days to 25% in the past month.

    When considering the week’s cumulative decline, bulls are sharply down since hitting a recent high of $19.12.

    The altcoin’s market cap now stands at $9.76 billion, while daily volume has spiked 43% to nearly $1.2 billion to highlight the intensified market activity.

    Bitcoin plummets as bears crash bulls

    As highlighted, Chainlink price fell sharply amid a bearish onslaught that intensified with BTC’s sudden dip.

    While cryptocurrencies had dumped on Wednesday as investor concern around macroeconomic and geopolitical turbulence mounted, alts’ decline accelerated as fake news about Strategy selling BTC surfaced.

    Posts that Michael Saylor was selling bitcoin appeared to relate to redistribution in wallets and not selling.

    Analysts like Miles Deutscher were quick to point out the fake news, and onchain data analytics platform Lookonchain shared the details below.

    However, as Bitcoin dumped amid the initial selling, Chainlink followed suit. 

    The token’s price action mirrored the market’s fear sentiment, hitting lows last seen in April. Indeed, Chainlink’s plunge below $14 allowed bears to revisit lows of $13.90.

    The alt may be hovering around the $14 mark as bulls eye a rebound, but losses threaten increased bleeding towards the all-important $10 mark.

    Despite the dip, Chainlink price remains bullish long term, with factors such as macroeconomic tailwinds, regulatory shifts and partnerships key catalysts.

    There is also the buzz around spot exchange-traded funds, which are gathering release pace with a spot XRP ETF launching in the US this week.

    LINK could also benefit from the Chainlink Reserve initiative, which added over 74,049 LINK tokens this week to bring the total haul to over 803,387 LINK.

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  • UAE makes Bitcoin wallets a crime risk in global tech crackdown

    UAE makes Bitcoin wallets a crime risk in global tech crackdown

    UAE makes Bitcoin wallets a crime risk in global tech crackdown

    • The UAE’s Federal-Decree Law No. 6 of 2025 came into effect on 16 September.
    • Article 62 places APIs, explorers, and decentralised platforms under Central Bank control.
    • Article 61 regulates all marketing, emails, and online posts about crypto services.

    In a sharp pivot from its crypto-friendly image, the United Arab Emirates has enacted sweeping new legislation that classifies basic cryptocurrency infrastructure, including Bitcoin wallets, as potentially criminal unless licensed by the Central Bank.

    Legal experts from Gibson Dunn have flagged the law’s scope as unusually broad, warning that its language introduces significant risk for global technology providers.

    This shift, embedded in Federal-Decree Law No. 6 of 2025, comes into force from 16 September and carries global consequences for developers and platforms offering crypto access.

    The law replaces the 2018 banking statute and significantly widens the definition of financial activity. What sets this legislation apart is not only its scope but also its enforcement teeth.

    Penalties for non-compliance range from fines of AED 50,000 to AED 500,000,000 (up to $136,000,000) and may include imprisonment.

    Importantly, this applies not just to entities operating within the UAE but also to those whose products are accessible from within the country.

    Licensing now applies to wallets, APIs and even analytics

    The most consequential element of the new law is found in Article 62. It grants the Central Bank control over any technology that “engages in, offers, issues, or facilitates” financial activity.

    The wording is broad enough to encompass self-custodial wallets, API services, blockchain explorers, analytics platforms, and even decentralised protocols.

    This marks a fundamental change in how crypto infrastructure is regulated in the UAE.

    Previously, licensing obligations focused on traditional financial entities, but the updated framework shifts this focus to include software and data tools.

    According to developer analysis, even public-facing tools such as CoinMarketCap and open-source Bitcoin wallets may now require licensing to remain accessible within the UAE.

    For the first time, developers may face criminal penalties for offering unlicensed crypto tools, even if they are based abroad.

    This extension of jurisdiction signals a new regulatory posture that treats access to crypto as tightly as its ownership or exchange.

    Communications and marketing now fall under regulation

    The crackdown does not stop at financial infrastructure. Article 61 of the same law defines the marketing, promotion, or advertising of financial services as a licensable activity.

    In practice, this means that simply hosting a website, publishing an article, or sharing a tweet about an unlicensed crypto service could be considered a legal violation if that content reaches UAE residents.

    This change dramatically expands the compliance footprint for companies and developers.

    Gibson Dunn highlights that these provisions materially broaden the enforcement perimeter, especially for firms with no formal presence in the UAE.

    The law applies to communications that originate outside the country but are accessible inside it.

    The result is a regulatory landscape where developers, content creators, and infrastructure providers must weigh whether their platforms are indirectly accessible by users in the UAE.

    In many cases, avoiding legal exposure may require disabling access or halting service altogether.

    Dubai’s free zones no longer shield crypto services

    Over recent years, the UAE has positioned itself as a hub for blockchain innovation.

    Jurisdictions such as Dubai’s Virtual Assets Regulatory Authority (VARA) and Abu Dhabi Global Market (ADGM) attracted global attention with purpose-built crypto licensing frameworks.

    However, the new federal law overrides these free-zone arrangements, asserting Central Bank control nationwide.

    Federal law supersedes any rules introduced by the UAE’s free zones, effectively dissolving the regulatory arbitrage that once drew companies to Dubai.

    The broader context includes the country’s history of digital restrictions.

    For instance, WhatsApp voice calls remain blocked across the UAE, reinforcing a consistent policy approach to centralised control over communications and digital tools.

    While this may bring the UAE in closer alignment with international pressure from groups like the Financial Action Task Force, it also puts crypto service providers in a difficult position.

    In other jurisdictions facing similar pressure, firms have withdrawn entirely to avoid enforcement risk.

    Enforcement begins in 2026, with further rules expected

    Entities have a one-year window from 16 September 2025 to come into compliance. This grace period may be extended at the discretion of the Central Bank.

    During this time, further regulations are expected to clarify how these broad rules will be applied in practice.

    Despite this, the scope of the law is already causing concern.

    The language around facilitation and communication, combined with the severe penalties under Article 170, suggests that firms offering crypto tools globally must now consider the risk of incidental exposure to UAE users.

    For software developers and platform operators, this marks a significant departure from the norms of decentralised access and open-source innovation.

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  • Bitcoin (BTC) battles macro headwinds despite improved ETF inflows

    Bitcoin (BTC) battles macro headwinds despite improved ETF inflows

    Bitcoin (BTC) battles macro headwinds

    • Bitcoin price remains range-bound amid long-term holder selling and falling demand.
    • US Bitcoin ETFs inflows signal cautious institutional optimism.
    • Macro uncertainty from the Fed and government shutdown keeps BTC under pressure.

    Bitcoin (BTC) continues to navigate turbulent market conditions as macroeconomic uncertainty and institutional dynamics shape its near-term trajectory.

    Despite renewed interest from investors and a notable surge in Bitcoin ETFs, the world’s largest cryptocurrency faces persistent pressure from long-term holder selling, cautious institutional sentiment, and a complex macro backdrop influenced by the Federal Reserve and ongoing government shutdown developments.

    Analysts and strategists are watching closely as BTC balances between cyclical signals and broader market realities in November.

    Bitcoin price struggles amid range-bound trading

    Bitcoin price has remained largely trapped between $106,000 and $116,000 over the past two weeks, signalling a period of consolidation rather than upward momentum.

    Long-term holders have accelerated their monthly distribution to roughly 104,000 BTC, marking one of the heaviest selling waves since mid-July, according to the recent Bitfinex report.

    This persistent supply pressure is coinciding with muted institutional demand following October’s sharp liquidation event, leaving BTC caught in a sideways range with limited short-term catalysts.

    Analysts warn that unless ETF inflows or new spot demand increase, the cryptocurrency could test support near $106,000, and a sustained breach of this level might open the path to $100,000.

    ETF inflows signal cautious optimism

    Despite these headwinds, Bitcoin ETFs have shown signs of recovery, injecting optimism into the market.

    On November 11, US spot Bitcoin ETFs recorded $524 million in cumulative net inflows.

    US Bitcoin ETFs inflows
    Total Bitcoin Spot ETF Net Inflow (USD) | Source: Coinglass

    This return of demand, alongside smart money traders adding net long positions totalling over $8.5 million, highlights a growing, albeit measured, confidence among institutional participants.

    Analysts have noted that sustained ETF inflows may signal an end to the broader de-risking phase observed after the market downturn, even as retail participation remains subdued.

    Macro factors keep BTC on edge

    Despite increased ETF inflows, macro conditions continue to weigh heavily on Bitcoin (BTC).

    The Federal Reserve’s recent 25-basis-point rate cut and the formal end of its balance sheet runoff are tempered by internal division over the next steps, with some officials citing risks from persistent inflation and others warning of slowing labour markets.

    Meanwhile, the Secured Overnight Financing Rate recently plunged to 3.92%, which financial analyst Shanaka Anslem described as indicative of market panic.

    These developments, combined with falling consumer confidence and cooling wage growth, have created uncertainty around near-term capital flows and investor appetite for risk assets like Bitcoin.

    The ongoing government shutdown adds another layer of complexity.

    While the Senate moves toward a potential resolution, analysts note that the relief may boost equities more than cryptocurrencies, as capital appears to rotate toward traditional financial markets while liquidity waits on the sidelines for normal economic data to resume.

    These dynamics have contributed to continued downside pressure on BTC, even as technical and ETF-related signals point to potential stabilisation.

    Bitcoin price outlook for November

    Looking ahead, November may not deliver the historic rallies often seen in the penultimate month of the year, as Bitcoin (BTC) remains caught between conflicting forces.

    While ETF inflows and smart money activity provide a foundation for renewed optimism, ongoing distribution by long-term holders, macro uncertainty, and cautious institutional behaviour continue to weigh on the Bitcoin price.

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