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🪙 BlackRock: Institutions View Bitcoin as Digital Gold, Not a Payment Tool Major investors generally do not factor in Bitcoin’s payment potential when purchasing the asset, said Robert Mitchnick, head of BlackRock’s crypto division. He noted that institutions primarily see Bitcoin as digital gold and a store of value, while its payment function is considered an additional, non-essential feature. Mitchnick added that broader use of BTC for payments remains a “somewhat speculative” scenario and would require significant scaling improvements to the main network, Lightning Network, and other infrastructure.

🧐 Solana community proposes SIMD-0411 to accelerate SOL disinflation The Solana community has introduced proposal SIMD-0411, which would double the disinflation coefficient from -15% to -30%. The goal is to speed up SOL inflation reduction from the current 4.18% to the long-term target of 1.5%. If approved, the target rate would be reached by early 2029 instead of 2032. The adjustment would also cut potential issuance by roughly 22.3 million SOL over six years. The SIMD proposal aims to reduce pressure on staking yields and increase average lock-up periods. The initiative is currently under discussion by Solana leadership.

📊 Cryptocurrency prices this morning 🥇BTC: ~$86,100 (+2.10%) 🥈ETH: ~$2,820 (+2.69%) 🥉SOL: ~$130 (+2.64%) ▫️Market cap: ~$2.9T (+1.49%) ▫️Fear & Greed Index: 10 (extreme fear) ▫️Altseason Index: 47

🗓 November 2025 is Bitcoin’s worst month since June 2022.

😨 CoinMarketCap Fear & Greed Index hits an all-time low

📊 Facts highlighting the uniqueness of the current Bitcoin cycle Several factors indicate a break from the traditional four-year Bitcoin cycle tied to halving events: ⏺️ Bitcoin is heading toward its worst quarter since 2018. Historically, the final months of the year have been among the strongest for the crypto market, but this time the trend is reversed. ⏺️ Bitcoin may record its first-ever red yearly candle despite setting a new all-time high. This combination has never occurred before. ⏺️ The April 2024 halving was also unconventional. Bitcoin rallied ahead of the event and then entered a prolonged correction — opposite to typical investor expectations.

📰 Saylor comments on potential removal of Strategy from stock indices Strategy CEO Michael Saylor commented on JPMorgan analysts’ statement regarding the potential removal of his company from MSCI and Nasdaq 100 indices. In October, MSCI proposed excluding companies whose crypto holdings exceed 50% of their assets, arguing that such entities “resemble investment funds.” JPMorgan estimated that Strategy could face up to $2.8 billion in outflows if delisted. Saylor stated that Strategy does not fall under this classification. He emphasized that the company is not a fund, trust, or holding structure, but a public firm “with a unique strategy of using Bitcoin as productive capital.” He added that Strategy doesn’t simply hold assets — it issues its own financial instruments, such as Stretch (STRC), which generate dollar-denominated yield. “No passive instrument or holding can do what we do,” Saylor said.

📉 JPMorgan says Strategy may be removed from MSCI and Nasdaq 100 indexes JPMorgan suggested that Strategy may be removed from major indexes such as MSCI and the Nasdaq 100. Analysts believe that if this happens, the company’s already weakened position—following a decline in mNAV—would deteriorate even further. According to Bloomberg, MSCI index operators discussed in October the potential exclusion of companies whose digital assets exceed 50% of their balance sheets, although Strategy was not specifically mentioned. The next index review is scheduled for January 15, 2026. Strategy’s situation continues to worsen: its shares have fallen 70% from their November 2024 peak. The decline in premium is compounded by Bitcoin’s drop, reducing BTC-related profit to $6 billion. The company will begin posting losses for the first time in years if Bitcoin falls to $74,433.

🇺🇸🇨🇳US investigates Bitmain for potential national security risks The United States is reviewing the activities of Bitmain, the Chinese bitcoin-mining hardware giant, for potential national security risks. The probe focuses on the company’s operations and its impact on critical infrastructure tied to Bitcoin mining.

📉 Bitcoin briefly fell below $82,000; nearly $1B in longs liquidated within one hour Bitcoin momentarily dropped below $82,000, triggering massive liquidations. In just one hour, almost $1 billion worth of long positions was wiped out. Over the past 24 hours, around 400,000 traders faced losses. One of the largest forced liquidations was a $37 million position on the Hyperliquid exchange.

📉 Bitcoin continues setting local lows Bitcoin keeps renewing local lows and is trading around $85,000 — 33% below its all-time high and 7% below the level at the start of 2025. For the second consecutive week, U.S. trading sessions have been marked by selling pressure. On November 20, U.S. spot Bitcoin ETFs recorded $903M in net outflows, the second-largest single-day outflow since Bitcoin ETFs launched in January 2024. The broader crypto market is in the red: several top-100 altcoins fell 10–15% over the past 24 hours. Crypto exchanges recorded nearly $1B in leveraged liquidations in a day, with long positions losing roughly $830M.

📊 Cryptocurrency prices this morning 🥇 Bitcoin (BTC): $85,983 🥈 Ethereum (ETH): $2,800 🐬 XRP (XRP): $1.97 🥉 BNB (BNB): $860 🌚 Solana (SOL): $132 💲 Tether (USDT): ₽82.62 ▫️ Total crypto market cap: $2.94T ▫️ Bitcoin dominance: 58.94% ▫️ Fear & Greed Index: 14 (“extreme fear”) 📈 None of the top-100 cryptocurrencies gained over the past 24 hours. 📉 Canton (CC) fell the most, dropping 17% in the last 24 hours.

🥱Bitcoin has fallen 31.4% from its all-time high of $126,000 reached on October 6. The price has dropped to mid-April levels.

💥 Crypto market lost $1T in capitalization after the October 10–11 crash The crypto market has shed around $1 trillion in total capitalization following the sharp drop on October 10–11. Along with Bitcoin, which saw a major decline, several leading altcoins also fell more than 20%, including ETH, SOL, ADA, LINK, TON. Among the top-100 cryptocurrencies, the biggest percentage losses were recorded by IP, SPX, ENA, PENGU, SUI, PEPE, and several others.

🇮🇳 India to launch rupee-backed stablecoin as an alternative to dollar tokens India is preparing to launch a national stablecoin called ARC (Asset Reserve Certificate), fully backed by the Indian rupee. According to reports, issuance is planned for Q1 2026, with development led by Polygon engineers and fintech company Anq. ARC will be used exclusively in a business environment and backed by liquid assets such as cash, bank deposits, or government bonds. This structure is intended to meet regulatory requirements and offer companies an alternative to dollar-based stablecoins, which tend to pull liquidity out of the national financial system. The core idea is to keep capital inside the country and stimulate demand for government debt. ARC will complement — not replace — the digital rupee and will not interfere with state control over the monetary system.

📈 AI-focused mining stocks surge after NVIDIA earnings Shares of public mining companies involved in AI infrastructure rose after NVIDIA released its quarterly report, which exceeded analyst expectations. Cipher Mining (CIFR) led the growth with over +13%, followed by IREN (IREN) with +10%. Bitfarms (BITF), TeraWulf (WULF), CleanSpark (CLSK), and MARA Holdings (MARA) also traded in the green, with MARA gaining +4%. Mining companies have increasingly been reallocating data-center capacity to GPU hosting. In November, IREN signed a $9.7B agreement with Microsoft, while Cipher secured a $5.5B deal with AWS. Seven of the ten largest public miners already generate revenue from AI-related operations. Bitfarms recently announced plans to gradually phase out Bitcoin mining in favor of AI. According to company leadership, a single GPU-hosting facility “can generate more profit than the entire mining business in its history.”

⚖️ Developer of Samourai Wallet sentenced to four years in prison A U.S. court has sentenced 67-year-old William Hill, the second developer of the Samourai Wallet, to four years in prison for operating an unlicensed money-transmitting service. Samourai Wallet included the Whirlpool mixer and privacy features that hindered transaction tracing. Prosecutors claimed the wallet was used to launder over $237 million in illicit funds. The court considered Hill’s age as a mitigating factor. Earlier, co-developer Keonne Rodriguez received a five-year sentence. Both developers were arrested in 2024. They initially faced up to 20 years, but in July pleaded guilty only to operating without a license, and the more serious money-laundering charge was dropped.

🐻 CryptoQuant: American investors are actively selling Bitcoin (Coinbase Premium Gap: -$90) The Coinbase Premium Gap shows the price difference between BTC on the U.S. exchange Coinbase and foreign exchanges. A negative value means BTC trades cheaper on Coinbase, indicating stronger selling pressure and weaker buying activity from U.S. investors. Current reading: –$90, signaling active selling from the U.S. market.

🧐 Bitfury Exits Mining and Launches a $1,000,000,000 Tech Fund Bitfury is exiting Bitcoin mining after 14 years and launching a $1B investment fund focused on AI, quantum technologies, and crypto startups. The company has been one of the oldest and most influential Bitcoin miners, operating since 2011.

🏴 Satoshi Was Against ETFs At the very beginning of the Bitcoin whitepaper, Satoshi wrote that “the main benefits of a peer-to-peer network are lost if a trusted third party is still required.” This means that if you're investing in BTC through ETFs or Bitcoin-related stocks, you’re missing the core principle that Nakamoto embedded into Bitcoin.