Top Cryptocurrencies headlines for November 22, 2025

Top Cryptocurrencies headlines for November 22, 2025

---

Bitcoin Plunges Toward $80,000 as ‘Death Cross’ Confirms Bear Market Signal

Bitcoin (BTC) has faced intense selling pressure, dropping toward the $80,000 mark and triggering a technical ‘death cross’ on its charts—a pattern where a short-term moving average crosses below a long-term one, often signaling the start of a prolonged bear market.

This 30% drawdown from recent highs has wiped out significant 2025 gains, with momentum indicators like the RSI hitting three-year lows.

Analysts note that while the drop is severe, the $80,000 level represents a critical psychological and technical support zone that bulls must defend to prevent a deeper capitulation.

The market rout has been exacerbated by over $2 billion in liquidations across the board, flushing out highly leveraged long positions.

Despite the bearish technicals, some contrarian analysts argue that the ‘death cross’ is a lagging indicator and that the current washout could be a ‘tactical rebalancing’ rather than a structural failure.

However, with fear and greed indices flashing ‘extreme fear,’ the immediate outlook remains cautious as traders watch for a potential bounce or a breakdown below this pivotal support.

US Launches National Security Probe into Bitcoin Mining Giant Bitmain

In a major regulatory development, US authorities have launched ‘Operation Red Sunset,’ an investigation into Chinese Bitcoin mining hardware manufacturer Bitmain.

The probe focuses on potential national security risks, specifically whether Bitmain’s ASIC machines contain remote capabilities that could be used for espionage or to disrupt the US energy grid.

This news has sent shockwaves through the mining sector, as Bitmain supplies a vast majority of the global mining hardware.

The investigation highlights the growing geopolitical tension intersecting with the crypto industry.

If the US were to sanction or ban Bitmain products, it could cause a massive disruption in the supply chain for mining hardware, potentially forcing a rapid pivot to alternative manufacturers.

For investors, this introduces a layer of regulatory risk to mining stocks and could temporarily impact the Bitcoin network’s hashrate growth if hardware availability becomes constrained.

Coinbase Acquires Solana-Based Vector.fun to Bolster On-Chain Trading

Coinbase has continued its aggressive acquisition spree by purchasing Vector.fun, a Solana-based social trading application, for an undisclosed amount.

This move is part of Coinbase’s ‘doubles down’ strategy on the Solana ecosystem, aiming to integrate Vector’s technology into its consumer trading arm to improve the on-chain trading experience (DEX) for retail users.

This follows recent acquisitions of other crypto-native firms, signaling Coinbase’s intent to own the infrastructure stack across multiple high-performance chains.

For the Solana ecosystem, this is a significant vote of confidence from the largest US exchange.

The acquisition suggests that Coinbase views Solana not just as an asset to list, but as a primary venue for future DeFi and social commerce activity.

Investors in SOL may view this as a long-term bullish driver, as it lowers the barrier to entry for Coinbase’s massive user base to interact directly with Solana’s decentralized applications.

Spot Bitcoin ETFs Bleed $238 Million while Solana and XRP Funds See Inflows

The divergence in institutional flow continues as US Spot Bitcoin ETFs recorded a massive $238 million in outflows, marking one of the worst weeks on record for the products.

The outflows are largely attributed to ‘tactical rebalancing’ by investors locking in profits or mitigating risk amidst the broader market price drop. This institutional selling pressure has compounded the negative sentiment driving Bitcoin’s price down.

Conversely, investment products for Solana (SOL) and XRP are bucking the trend, extending inflow streaks to ten and eight days respectively.

This rotation suggests that while institutional appetite for Bitcoin is cooling temporarily, there is a growing conviction in high-utility altcoins.

The launch of new XRP and SOL ETFs is providing fresh avenues for capital deployment, indicating that sophisticated investors are diversifying their crypto exposure beyond the market leader.

Strategy (Formerly MicroStrategy) Faces MSCI Exclusion Risk; Saylor Defends ‘Operating Business’ Status

Strategy, the corporate Bitcoin treasury giant formerly known as MicroStrategy, is facing potential exclusion from MSCI indices, a move that could trigger billions in forced selling from passive funds.

JPMorgan analysts warned that the company’s classification is under review, with concerns that it functions more as an investment vehicle than an operating company.

Exclusion from indices like the MSCI World could lead to an estimated $2.8 billion in outflows, putting severe pressure on the stock price.

Executive Chairman Michael Saylor has publicly pushed back, arguing that the firm is an operating business with a unique treasury strategy, not a passive fund (ETF) or trust.

He emphasized that the company’s ability to generate cash flow and leverage capital markets to acquire Bitcoin distinguishes it from simple investment vehicles.

The outcome of this review is critical for investors, as Strategy’s stock has become a popular high-beta proxy for Bitcoin exposure in traditional equity portfolios.

Solo Miner with 1.2 TH/s Hashrate Wins $266,000 Bitcoin Block Reward

A solo Bitcoin miner has defied astronomical odds to mine a valid block with just 1.2 TH/s of computing power, earning the full 3.125 BTC block subsidy plus fees, totaling approximately $266,000.

The miner, operating through the Solo CKpool, possessed only 0.0000007% of the network’s total hashrate. The probability of such an event is roughly 1 in 180 million, making it a lottery-winning scenario.

While this event doesn’t impact the broader market price, it serves as a powerful narrative for the decentralization and democratization of Bitcoin mining.

It proves that despite the dominance of industrial-scale mining farms, it is still mathematically possible—however unlikely—for individual hobbyists to secure the network and be rewarded.

This story often reinvigorates interest in home mining setups, though financial advisors caution that for most, it remains a speculative endeavor.

Aerodrome and Velodrome DeFi Protocols Hit by Front-End DNS Attacks

Leading decentralized exchanges Aerodrome and Velodrome have been compromised by a front-end DNS attack, forcing the teams to urge users to avoid their main domains.

While the underlying smart contracts on the blockchain remain secure, the ‘front-end’ (the website interface) was hijacked, potentially tricking users into signing malicious transactions. The teams have advised users to utilize decentralized ENS domains until control is fully restored.

This incident underscores a recurring vulnerability in DeFi: the reliance on Web2 infrastructure (DNS, domain registrars) to access Web3 protocols. For investors, this is a reminder of the importance of verifying contract interactions and the risks associated with interface layers.

The tokens associated with these protocols (AERO and VELO) faced immediate volatility as uncertainty spread, though the safety of the liquidity pools themselves prevented a catastrophic total value locked (TVL) drain.

XRP Drops Below $2 Despite Bitwise and Grayscale ETF Launches

XRP price has fallen below the psychological $2.00 level, trading down alongside the broader market despite significant fundamental milestones. Bitwise and Grayscale have both moved forward with XRP ETF products, with Grayscale’s ETF receiving NYSE approval for a Monday launch.

Typically, such news would catalyze a rally, but the overwhelming macro bearishness and Bitcoin’s correction have suppressed price action.

Analysts note that XRP is currently in oversold territory, with Bollinger Bands and other technical indicators suggesting the sell-off may be overextended.

The divergence between the bullish institutional news (ETF launches) and the bearish price action suggests a potential ‘coiled spring’ scenario.

However, immediate sell pressure remains high as long-term holders and whales have been spotted moving significant volumes to exchanges, likely to de-risk amidst the uncertainty.

BitMine Immersion Tech Struggles with NAV Discount and Ethereum Staking Plans

BitMine Immersion Technologies is facing a difficult period as its stock trades at a discount to its Net Asset Value (NAV), meaning the company is valued at less than the Ethereum it holds.

To combat this and generate revenue, the firm announced plans to stake its ETH holdings in 2026. However, the company is currently sitting on unrealized losses of over $1,000 per ETH held, complicating its balance sheet.

This situation highlights the risks associated with ‘Digital Asset Treasury’ (DAT) companies. While they offer equity investors exposure to crypto, they can suffer from structural issues like NAV discounts when market sentiment sours.

Analysts warn that without active yield generation strategies like staking, these proxy stocks may underperform the underlying assets they hold, especially in a high-fee environment.

Hedera (HBAR) Crashes 11.5% as Institutional Selling Breaches Key Support

Hedera (HBAR) has suffered a sharp 11.5% decline, breaking through critical technical support levels amidst a broader altcoin rout. Trading volume exploded to 98% above average, indicating a high-conviction sell-off driven largely by institutional sellers or large token unlocks.

The crash has pushed HBAR into a precarious position technically, invalidating recent bullish structures.

Investors should note the volume spike accompanying the drop; high-volume sell-offs often signal a ‘capitulation’ event where weak hands are flushed out, potentially setting the stage for a reset.

However, until HBAR can reclaim previous support zones, the path of least resistance remains downward. The move aligns with the general risk-off sentiment hitting enterprise-grade blockchains this week.

Coinbase Introduces 24/7 Futures Trading for Shiba Inu, DOGE, and AVAX

Coinbase has announced the expansion of its derivatives offering, introducing 24/7 trading for perpetual-style futures on several popular altcoins including Shiba Inu (SHIB), Dogecoin (DOGE), and Avalanche (AVAX).

These contracts will settle on a five-year expiry, a unique structure designed to mimic the ‘perpetual’ swaps popular in offshore exchanges but within a regulated US framework.

This move significantly increases the accessibility of leverage for US retail traders on these specific assets. By offering regulated futures, Coinbase is looking to capture volume that typically flows to offshore platforms or decentralized exchanges.

For the tokens involved, this could mean increased volatility and liquidity, as speculative interest can now be expressed more easily around the clock.

Cardano Network Experiences ‘Poisoned’ Transaction Glitch Causing Fork

The Cardano network faced a brief disruption caused by a ‘poisoned’ transaction that triggered a validation mismatch, leading to an unexpected network fork. A user publicly apologized for sending the transaction that exploited the edge case.

While the network did not suffer a complete outage, the validation glitch raised concerns about software resilience.

Development teams quickly addressed the issue, but such technical hiccups can damage investor confidence in a blockchain that prides itself on academic rigor and peer-reviewed code. The incident serves as a stress test for Cardano’s governance and emergency response mechanisms.

Market reaction was negative, contributing to ADA’s slide, though the transparency of the resolution was praised by the technical community.

UK Crackdown: Operation Destabilise Seizes $32.6M in Crypto Tied to Russian Money Laundering

The UK’s National Crime Agency (NCA) has executed ‘Operation Destabilise,’ arresting 128 individuals and seizing $32.6 million in cryptocurrency and cash.

The operation targeted a massive money laundering network that used crypto to funnel drug money to Russian interests, helping them evade international sanctions. The network was reportedly sophisticated enough to be involved in purchasing a bank in Kyrgyzstan.

This enforcement action is part of a tightening global regulatory net around the use of crypto for sanctions evasion. For the market, it reinforces the narrative that Western governments are becoming increasingly effective at tracking illicit on-chain flows.

While this cleans up the ecosystem, it also signals that privacy and compliance will remain top priorities for regulators, potentially leading to stricter KYC/AML requirements for exchanges and wallet providers globally.

Nvidia Earnings Beat Provide Brief Crypto Pump Before ‘Sell the News’ Reversal

Nvidia’s blockbuster quarterly earnings report initially provided a lift to crypto markets, with AI-related tokens (FET, RENDER) and major caps seeing a brief surge. However, the optimism quickly faded, leading to a ‘sell the news’ reversal that dragged markets lower.

The correlation between Nvidia (the proxy for the AI boom) and crypto assets remains high, as both are treated as risk-on technology plays by macro investors.

The subsequent drop suggests that the market’s exhaustion runs deeper than just one earnings report can fix.

Investors are increasingly worried about the sustainability of the AI valuation boom, and when tech stocks falter, crypto assets—viewed as further out on the risk curve—often suffer disproportionately.

The failure of the Nvidia beat to sustain a rally is a bearish signal for near-term market sentiment.

Zcash (ZEC) Rallies on Privacy Concerns and Winklevoss Backing

Amidst a sea of red, privacy coin Zcash (ZEC) has emerged as a rare outlier, rallying significantly.

The move is driven by renewed interest in privacy protocols as AI surveillance capabilities grow, a thesis publicly supported by Cameron and Tyler Winklevoss.

The ‘Privacy vs. AI’ narrative is gaining traction, positioning ZEC as a hedge against an increasingly transparent digital world.

Furthermore, ZEC’s price action—breaking above $700 in some pairings—suggests a short squeeze or a fundamental repricing. While other alts are making new lows, ZEC’s relative strength is attracting momentum traders.

However, regulatory risks for privacy coins remain high, making this a high-risk, high-reward trade driven by ideological and speculative flows.

Japan’s Economic Stimulus and Tax Reform Proposals Buoy Local Crypto Optimism

While global markets struggle, positive regulatory news is emerging from Japan.

The government is advancing proposals to reform its draconian crypto tax laws, potentially lowering the tax rate on gains from a high of 55% to a flat 20%, aligning it with traditional stock investments.

Additionally, a new economic stimulus package has been announced to support the weakening yen.

These changes, if enacted, could unlock a massive amount of retail capital in Japan, which has historically been a major crypto market. The tax reform is particularly bullish for local adoption and trading volumes.

For global investors, this signals that while the US and Europe tighten rules, major Asian economies are moving to become more competitive and hospitable to the digital asset industry.

Ether (ETH) Futures Data Hints at Potential Bounce Despite Drop to 4-Month Low

Ethereum’s price has tumbled to a four-month low near $3,100, but derivatives data offers a glimmer of hope.

Analysis of Ether futures markets suggests that the premium gap is widening in a way that historically precedes a mean-reversion bounce, potentially targeting the $3,200 level in the short term.

Open interest remains significant, indicating traders have not completely exited the market.

However, the broader picture for Ethereum remains challenged by the ‘death cross’ on its daily chart and continued outflows from spot ETFs.

The lack of a strong narrative compared to Solana’s meme coin mania or Bitcoin’s macro appeal has left ETH in a precarious middle ground.

Investors are watching the $3,000 psychological support closely; a break below could accelerate selling, while a hold could validate the constructive futures data.

Coinbase Executes Internal Wallet Migration to Bolster Security

Coinbase has successfully executed a planned migration of its internal wallets. The exchange described the move as a standard industry ‘best practice’ to maintain cutting-edge cybersecurity standards and optimize on-chain operations.

Such migrations often involve moving funds from legacy cold storage addresses to newer, more efficient, or more secure cryptographic schemes (like MPC).

While these large movements of funds can sometimes spook on-chain trackers and trigger ‘whale alerts,’ Coinbase clarified the activity to prevent FUD (Fear, Uncertainty, and Doubt).

For investors, this operational hygiene is a positive sign of the exchange’s maturity and focus on asset safety, even if it results in temporary noise in on-chain data feeds.

ARK Invest Buys the Dip: Adds Coinbase, Robinhood, and Bitcoin ETF Shares

Cathie Wood’s ARK Invest has ramped up its crypto exposure during the market dip, purchasing shares of Coinbase (COIN), Robinhood (HOOD), and its own Bitcoin ETF.

The firm also added positions in Circle and the exchange ‘Bullish.’ This contrarian buying is typical of ARK’s strategy to double down on high-conviction innovation themes during periods of market weakness.

For the market, this serves as a vote of confidence from a high-profile institutional manager.

It suggests that ARK views the current price action as a short-term correction in a secular bull market rather than a fundamental deterioration of the crypto thesis.

However, ARK’s funds have faced volatility, so retail investors often view these moves as high-risk signals.

Legislation Introduced to Allow US Federal Tax Payments in Bitcoin

US Representative Warren Davidson has introduced the ‘Bitcoin for America Act,’ ambitious legislation that would allow taxpayers to settle their federal tax liabilities using Bitcoin without triggering capital gains taxes on the transaction.

The bill also aims to bolster the hypothetical ‘US Strategic Bitcoin Reserve.’ While the bill faces a long road to potential enactment, its introduction signals the growing normalization of crypto in Washington.

If passed, this would be a massive catalyst for adoption, effectively treating Bitcoin as a parallel currency for government settlements. It would also incentivize holding Bitcoin by removing the tax friction currently associated with spending it.

Even as a proposal, it shifts the ‘Overton Window’ for crypto policy, forcing lawmakers to debate the role of digital assets in the sovereign treasury.

Fanatics Partnering with Crypto.com to Enter Prediction Markets

Sports merchandising giant Fanatics, led by Michael Rubin, is set to enter the prediction markets space through a partnership with Crypto.com. The product is expected to launch in the coming weeks.

This move capitalizes on the exploding popularity of prediction markets (like Polymarket and Kalshi) and bridges the gap between sports betting and crypto-based information markets.

This partnership represents a significant mainstream corporate entry into a niche crypto vertical. It validates the prediction market thesis and could bring millions of sports fans on-chain.

For Crypto.com, it serves as a major user acquisition channel, diversifying their offering beyond simple exchange trading.

New York Attorney General Race Heats Up with Crypto-Friendly Candidate

Khurram Dara, a former lawyer for Coinbase, has announced his candidacy for New York Attorney General. His platform explicitly attacks the current AG, Letitia James, accusing her of engaging in ‘lawfare’ against the crypto industry.

New York has notoriously strict crypto regulations (the BitLicense), and the AG’s office has been aggressive in pursuing fraud cases against crypto firms.

A candidate running specifically on a crypto-policy platform highlights the industry’s growing political weight. If successful, or even if the campaign gains traction, it could pressure NY regulators to soften their stance to avoid stifling innovation.

This is part of a broader trend of ‘crypto voters’ becoming a distinct political demographic.

Memecoin Market Cap Plunges to 2025 Lows as Speculative Mania Fades

The memecoin sector has taken a severe beating, with total market capitalization sinking to its lowest level of 2025. Roughly $5 billion was wiped out in a single day as traders aggressively de-risked from speculative assets.

This flush-out has hit major tokens like SHIB, DOGE, and PEPE, as well as the long tail of Solana-based memes.

This rotation out of risk assets is typical during macro corrections. When Bitcoin sneezes, memecoins catch a cold due to their lack of fundamental utility and reliance on liquidity and sentiment.

Analysts suggest this ‘cleansing’ was necessary to reset valuations, but it leaves many retail holders with deep losses.

The sector awaits a return of broader market bullishness to revive interest.

Stablecoin Regulation: UK to Cap Holdings as US Tax Guidance Eases for ETFs

A divergent regulatory landscape for stablecoins is emerging. In the UK, reports indicate plans to cap stablecoin holdings at £20,000 per individual, a restrictive move aimed at financial stability.

Meanwhile, in the US, the Treasury and IRS issued new guidance that simplifies the tax reporting for ETFs that stake tokens, a move that indirectly benefits the liquidity and usability of crypto assets.

These conflicting approaches create a complex environment for global stablecoin issuers like Circle and Tether. The UK’s cap could stifle adoption in a key financial hub, while US clarity could accelerate institutional product development.

Investors should monitor these jurisdictional arbitrages as they will dictate where capital flows in the coming years.

Binance CEO Richard Teng Downplays Bitcoin Drop as Standard Volatility

Binance CEO Richard Teng has urged calm amidst the market slide, arguing that Bitcoin’s 35% decline from highs is consistent with its historical volatility profile and matches broader ‘risk-off’ deleveraging in global markets.

He emphasized that the fundamentals of the industry remain strong despite the price action.

Comments from industry leaders like Teng are designed to reassure retail investors and prevent panic selling.

By framing the crash as ‘normal volatility,’ he attempts to shift the narrative from ‘crisis’ to ‘opportunity.’ However, his comments come as Binance itself faces continued regulatory scrutiny, making his reassurance a critical part of maintaining user trust.

Analyst Jeff Park: Sovereign Bitcoin Adoption Would Be ‘Ultimate Upside Catalyst’

Jeff Park, a prominent crypto analyst, stated that the adoption of Bitcoin by a sovereign nation (buying it for treasury reserves) would be the ‘ultimate catalyst’ that could send prices to $150,000 overnight.

He noted that for this to happen, the adoption would ‘have to be real’—likely implying significant, verified purchases rather than rumors.

This commentary feeds into the ‘Game Theory’ thesis held by many Bitcoiners: that once one major nation (beyond El Salvador) accumulates Bitcoin, others will be forced to follow to hedge their currency risks.

While this remains speculative, it provides a long-term bullish narrative that keeps holders engaged during short-term bearish price action.

Liquidity Crisis: $12B in DeFi Capital Sitting Idle

A new report highlights a massive inefficiency in the Decentralized Finance (DeFi) sector, noting that $12 billion in liquidity is sitting idle, with 95% of capital going unused.

This ‘liquidity crisis’ disproportionately hurts retail liquidity providers, many of whom are suffering from impermanent loss while earning meager fees. The report suggests the current AMM (Automated Market Maker) models need evolution to become capital efficient.

This finding is bearish for the current state of DeFi yield farming but bullish for next-generation protocols solving these issues (like concentrated liquidity or RFQ systems).

It suggests that the ‘easy money’ era of passive yield farming is over, and capital is becoming smarter and more selective about where it is deployed.

Bitcoin ‘Realized Losses’ Hit Historic FTX-Crash Levels

On-chain data indicates that Bitcoin ‘realized losses’—coins sold for less than they were bought—have spiked to levels not seen since the FTX collapse in late 2022.

This capitulation is being driven largely by short-term holders (STHs) who bought near the recent tops and are now panic-selling to preserve capital.

Historically, spikes in realized losses often mark a local market bottom, as it signifies the exit of ‘weak hands’ and the transfer of assets to long-term holders with higher conviction.

Contrarian traders view this metric as a potential buy signal, assuming the market can absorb the remaining sell pressure without breaking major structural support.

Google Sparks Privacy Backlash with Gemini AI Scanning Gmail

Google is facing severe criticism after it was revealed that a setting allowed its Gemini AI to scan user Gmail inboxes and calendars without explicit, prominent consent.

While not directly a crypto story, this privacy breach feeds the narrative driving users toward decentralized, privacy-preserving alternatives (like Zcash) and Web3 communication protocols.

The intersection of AI surveillance and big tech data overreach is a core driver for the ‘DePIN’ (Decentralized Physical Infrastructure Networks) and privacy-coin thesis.

As users become more aware of how their data is harvested, decentralized solutions that offer encryption and user sovereignty gain fundamental value propositions.

Bitcoin Premium on Coinbase Turns Negative, Signaling Weak US Demand

The ‘Coinbase Premium’—the difference between Bitcoin’s price on Coinbase (USD pair) and Binance (USDT pair)—has turned significantly negative, reaching its widest discount since Q1. This metric is a key indicator of US institutional and retail demand.

A negative premium suggests that US investors are selling more aggressively than their international counterparts.

This is a bearish signal for the short term, as the US market has been the primary driver of the 2024-2025 bull run via ETF inflows.

Until the premium stabilizes or turns positive, it indicates that the US bid is exhausted, and the market may lack the momentum to reclaim higher price levels immediately.

Philippines Bets on Sui Blockchain for Education Initiative

In a boost for the Sui blockchain, a crypto industry-backed developer program has launched in the Philippines, focusing on teaching students the ‘Move’ programming language used by Sui.

The initiative targets remote provinces, aiming to integrate blockchain development into the local education system.

This highlights the intense competition among Layer-1 blockchains to cultivate developer talent in emerging markets. By locking in developers early, Sui aims to build a sustainable ecosystem of apps.

For the Philippines, it represents a push to modernize its workforce for the Web3 economy.

Positive adoption news like this helps insulate projects like Sui from broader market bearishness.

Ripple (XRP) Raises $500M at $40B Valuation Amid Market Downturn

Defying the market gloom, Ripple has reportedly raised $500 million in a new funding round, valuing the company at $40 billion. Backers include heavyweights like Fortress, Citadel, and Brevan Howard.

The capital injection is earmarked for expanding Ripple’s payments infrastructure and potential M&A activity.

This massive raise confirms that institutional investors still see immense value in Ripple’s business model, independent of the daily price fluctuations of the XRP token.

It provides Ripple with a war chest to survive the bear market and continue fighting legal battles or acquiring distressed assets, solidifying its position as a cornerstone of the crypto-enterprise landscape.