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The recent decline in Bitcoin's price has pushed holders' realized losses to their highest level since the collapse of FTX in 2022, according to an analysis by Glassnode. The firm noted that these losses are predominantly driven by short-term holders (STH), indicating heightened capitulation pressure among recent buyers. In contrast, losses among long-term holders (LTH) have been relatively limited, suggesting that the current market stress is primarily concentrated on newer investors.

Cryptocurrency services provider Matrixport has withdrawn 5,805 BTC, valued at $470 million, from Binance over the past 24 hours, Onchainlens reported. Withdrawals from exchanges are generally interpreted as an intention to hold the assets.

According to CoinNess market monitoring, BTC has fallen below $91,000. BTC is trading at $90,988.79 on the Binance USDT market.

Hong Kong-based crypto investment firm HashKey Holdings Limited plans to begin taking investor subscriptions for its initial public offering (IPO) as early as next week, Bloomberg reported. The company aims to raise at least $200 million and is targeting a listing before the end of December. However, the offering's size and schedule may change depending on market conditions.

South Korea's National Police Agency has converted its preliminary review of a hacking incident at the Upbit crypto exchange into a formal investigation, the Herald Business reported. The Cyber Terror Investigation Division had been conducting a preliminary probe since last month. A police official stated that they could not disclose whether a suspect has been identified, citing the nature of hacking cases. The official clarified that the transition to a formal investigation occurs when criminal suspicions become objectively concrete and a full probe is deemed necessary, not necessarily upon the identification of a suspect.

South Korean crypto exchange Bithumb has announced it will temporarily suspend deposits and withdrawals for NEAR Protocol (NEAR) starting at 9:00 a.m. UTC on Dec. 8 to support a network upgrade.

Binance has announced it will temporarily suspend deposits and withdrawals for the Terra (LUNA) network to support an upcoming network upgrade. The suspension will begin at 12:05 p.m. UTC on Dec. 8.

South Korean cryptocurrency exchange Upbit has announced that access to its PC web and mobile app is currently unstable due to a service disruption at Cloudflare.

An address believed to belong to the hacker behind the Bunni DEX exploit has transferred 2,295 ETH, worth $7.3 million, to the crypto mixing protocol Tornado Cash, according to PeckShield. The decentralized exchange previously announced in October that it would cease operations due to financial difficulties after suffering an $8.4 million hack.

An address believed to be associated with Elon Musk's aerospace company, SpaceX, transferred 1,083 BTC, worth approximately $99.81 million, to a new address a short while ago, according to Lookonchain. The move appears to be a transfer to a Coinbase Prime address for custody purposes.

Major cryptocurrency platforms, including the South Korean exchange Upbit and Coinbase, are experiencing service disruptions. The outages are believed to be linked to an error at the web infrastructure provider Cloudflare. A similar Cloudflare-related issue caused widespread service interruptions across multiple crypto platforms last month.

The Ethereum network experienced a temporary drop in validator participation immediately following its Fusaka upgrade due to a bug in the Prysm consensus layer client, Cointelegraph reported. The bug was found to have occurred while Prysm v7.0.0 was processing old validator attestations. According to the Beaconchain explorer beaconcha.in, at epoch 411448, network synchronization participation fell to 75% and voting participation dropped to 74%. The network has since recovered, with voting participation at 99% and synchronization at 97% by epoch 411712. At the time of the incident, approximately 22.71% of validators were using the Prysm client, a share that has since decreased to 18%.

Turkish cryptocurrency exchange Paribu has announced its acquisition of CoinMENA, the largest crypto exchange in the Middle East and North Africa (MENA) region, for up to $240 million. Paribu plans to expand its operations into the region by acquiring CoinMENA, which holds licenses from Dubai's Virtual Assets Regulatory Authority (VARA) and the Central Bank of Bahrain.

South Korean crypto exchange Bithumb has announced that it will temporarily suspend deposits and withdrawals for ZRC at 8:00 a.m. UTC on Dec. 8 to support a network upgrade.

South Korean crypto exchange Upbit has announced that it will temporarily suspend deposits and withdrawals for Ethereum (ETH) and related digital assets to support an upcoming network hard fork. The suspension is scheduled to begin at 12:00 p.m. UTC on Dec. 9.

Solana-based decentralized exchange (DEX) HumidiFi has announced it is voiding yesterday’s public token sale and will conduct a new one next Monday. The exchange explained that a bot created thousands of wallets to participate in the sale, ultimately purchasing the entire token supply. This activity prevented regular users from being able to participate.

U.S. crypto exchange Kraken has launched a new VIP program for ultra-high-net-worth (UHNW) individuals and institutional investors, according to CoinDesk. Participants will be assigned a dedicated account manager and receive early access to new Kraken products. To qualify, users must maintain an average account balance of $10 million or have an annual trading volume of over $80 million.

Global cryptocurrency exchange MEXC announced it has hired Vugar Usi Zade, the former Chief Operating Officer (COO) of Bitget, as its new COO. Zade previously worked at Meta (formerly Facebook) and Bain & Company before his tenure at Bitget, where he is credited with playing a key role in the exchange's growth to become the fourth-largest globally. In his new role, Zade will oversee strategic market expansion into areas such as Eastern Europe and Latin America, while also strengthening MEXC's global regulatory and compliance framework. Zade stated that MEXC is an exchange with potential for continuous innovation and growth, adding that he aims to set new standards and enhance overall reliability through a regulation-friendly approach.

Italian economic authorities have launched an in-depth review of measures to protect retail crypto investors, Decrypt reported. The country's Macroeconomic Policy Committee, which includes the Bank of Italy, the insurance and pension regulator, and the Ministry of Finance, stated that the need for safeguards has grown. The committee explained that this is due to the increasing interconnection between cryptocurrencies and the broader financial system.

South Korean crypto exchange Upbit announced it will begin sequentially resuming deposit and withdrawal services at 8:00 a.m. UTC today, following a wallet system maintenance check. The services will first be restored for digital assets on networks confirmed to be stable. These include ELF, ALGO, ASTR, FIL, FLOW, HBD, HIVE, IOST, DON, IOTA, EGLD, GAS, NEO, CKB, MBL, ONT, ONG, POLYX, STX, STEEM, SBD, SWELL, XTZ, A, BLACK, CHL, EOSDAC, HORUS, MEETONE, VET, VTHO, and WAXP. Upbit added that all previous deposit addresses have been deleted and that users must generate new addresses before making any deposits.

The intention of U.S. investors to purchase cryptocurrency has weakened, according to a report from the U.S. Financial Industry Regulatory Authority (FINRA), as reported by Cointelegraph. While the percentage of U.S. investors who bought crypto remained steady at 27% between 2021 and 2024, the proportion considering a new or additional purchase fell from 33% to 26%. The report also highlighted a notable drop among institutional investors with a high-risk appetite, with their participation falling from 12% in 2021 to 8% in 2024. FINRA attributed the trend to a growing preference for safe-haven assets amid current interest rates, inflation, and economic uncertainty. The findings are based on a survey of 2,861 U.S. investors and 25,539 adults conducted between July and December 2024.

The following are the 24-hour long/short ratios for BTC perpetual futures on the top three global crypto futures exchanges by open interest: Overall: 49.41% long, 50.59% short 1. Binance: 49% long, 51% short 2. OKX: 48.36% long, 51.64% short 3. Bybit: 47.73% long, 52.27% short

The decentralized, permissionless stablecoin protocol USPD has reported a $1 million loss following an exploit. An investigation found that the attacker gained administrator privileges and used them to replace the system with malicious code to steal the funds. USPD stated that it is working closely with law enforcement and white-hat hackers and plans to halt legal action if the attacker returns 90% of the funds, keeping the remaining 10% as a bug bounty.

Bitcoin is unlikely to replicate its strong rally from earlier this year in the beginning of 2026, according to 21Shares co-founder Ophelia Snyder. In a statement reported by Cointelegraph, Snyder explained that the key factors currently driving market volatility are unlikely to be resolved in the short term. She noted that while January is typically a period of renewed inflows into spot ETFs as investors rebalance their portfolios, a similar rally would require a significant positive shift in overall investor sentiment. Given the current subdued market mood, Snyder finds it difficult to predict Bitcoin's trajectory for next January. However, she assessed that the current market correction stems from broader risk-off sentiment rather than any fundamental issues with cryptocurrency itself, viewing this as a positive sign for the long term.

An analysis suggests that Ethereum Layer 2 project Taiko is positioned to be the biggest beneficiary of the network's upcoming Fusaka upgrade. The upgrade is designed to enhance data availability and pre-confirm future block proposers via EIP-7917. This will enable Taiko to implement its proprietary Preconfirmation technology, allowing for faster and more certain transaction finality. Taiko COO Joaquin Mendes explained that while PeerDAS, a core feature of Fusaka, provides high-performance data availability, rollups require a supernode-level beacon client configuration to reliably access blobs. He added that Taiko is prepared to implement this.