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According to CoinNess market monitoring, BTC has fallen below $89,000. BTC is trading at $88,951.1 on the Binance USDT market.

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ProCapBTC, a company founded by Pomp Investments founder Anthony Pompliano, has completed its merger with special purpose acquisition company (SPAC) Columbus Circle Capital (BRR), Coindesk reported. The company is scheduled to begin trading on the Nasdaq starting next Monday.

According to CoinNess market monitoring, BTC has risen above $90,000. BTC is trading at $90,009.98 on the Binance USDT market.

Ethereum founder Vitalik Buterin has highlighted the need for an on-chain gas futures market. He argued that while gas fees are currently low, it is difficult to predict how they will change over the next two years. According to Buterin, a gas futures market would help form expectations for the future fee market and allow users to hedge against the risk of rising gas costs. He added that it could also enable features for pre-booking or pre-purchasing gas for specific periods.

The market capitalization of euro-denominated stablecoins has more than doubled in the year since the European Union's Markets in Crypto-Assets (MiCA) regulation took full effect in June of last year, CoinDesk reported. Citing data from London-based payments firm Decta, the report noted that monthly trading volume for euro stablecoins such as EURS, EURC, and EURCV surged from $338 million to $3.8 billion over the same period.

The cryptocurrency market is entering a recovery phase in December, according to a Dec. 5 report from Coinbase cited by BeInCrypto. The report attributes this to several factors, including improved liquidity as expectations for a U.S. Federal Reserve interest rate cut reach 90%. Additionally, the M2 money supply has hit an all-time high of $22.3 trillion, while selling pressure from long-term holders has significantly diminished, easing supply constraints on Bitcoin. Coinbase added that the market environment is becoming more favorable with new capital inflows, which could facilitate the return of risk-on funds.

Global remittance giant Western Union is preparing to launch a prepaid stablecoin card targeting users in countries with high inflation, according to a report from Criptonoticias. The card aims to help protect users' purchasing power from currency devaluation. The company plans to issue a dollar-pegged stablecoin, USDPT, on the Solana (SOL) blockchain early next year.

The blockchain project PIBBLE announced in an updated white paper that it has successfully completed the goals set out in its roadmap for the year. Key achievements include the official launch and successful proof-of-concept of AION, a global service transition, the integration of an AI agent, the establishment of a multi-chain ecosystem, the implementation of Tokenomics 2.0, integration with Solana (SOL), and the completion of its 10th token burn. Looking ahead to 2026, PIBBLE plans to create a financial ecosystem where AI and blockchain expand into the real-world economy. The project stated it will also introduce a new revenue model and a buyback program funded by staking and real-world usage revenue, alongside an expansion of its PIB token burn initiative within a new Web3 economic ecosystem.

New York-based brokerage Clear Street is preparing for an initial public offering (IPO) at a valuation of up to $2 billion, Cointelegraph reported. The firm has played a key role in the corporate trend of building strategic cryptocurrency reserves, having managed approximately $91 billion in stock, bond, and M&A deals, including the BTC purchases for Strategy.

France's second-largest financial group, BPCE, has launched a cryptocurrency trading service, Solid Intel reported. The move follows earlier reports from last year in which local financial media stated the group planned to offer crypto investment services starting in 2025 through its subsidiary, Hexarq. BPCE holds approximately $1.52 trillion in assets under management (AUM) as of the third quarter of this year.

The recently launched bridge connecting Coinbase's Layer 2 network, Base, with Solana (SOL) has seen minimal usage, with only 60 cumulative transactions to date, Wu Blockchain reported. Base core developer Jesse Pollak stated that while his team attempted to engage with projects in the Solana ecosystem, not all expressed interest. In response, Solana co-founder Anatoly Yakovenko remarked that Solana's developers would only benefit once Base applications migrate to and run on the Solana network.

Binance founder Changpeng Zhao said during a media interview at Binance Blockchain Week on Dec. 3 that the joy of life lies in its uncertainty. When asked about five wishes he would like to fulfill before he dies, Zhao responded that one is enough. He explained that a game with a known outcome is less enjoyable than the process of cooperation and effort involved. Zhao added that life's difficulties are part of its enjoyment and stated that his single wish is for everyone to be healthy.

South Korean crypto exchange Upbit announced that it has completed all maintenance and resumption work on its digital asset deposit and withdrawal services. The exchange stated that it had been sequentially conducting the maintenance to enhance wallet system stability and security following an inspection on Nov. 27.

Binance has announced it will list POWER/USDT perpetual futures at 9:00 a.m. UTC on Dec. 6, offering up to 20x leverage.

The 24-hour long/short position ratio for BTC perpetual futures on the top three exchanges by open interest shows an overall split of 49% long to 51% short. The breakdown by exchange is as follows: Binance (49.31% long / 50.69% short), Bybit (49.09% long / 50.91% short), and Gate.io (51.43% long / 48.57% short).

An address presumed to belong to Bitmain (BMNR) purchased an additional 22,676 ETH, worth $68.67 million, approximately four hours ago, Lookonchain reported. This follows another purchase of 41,946 ETH ($130.78 million) by the same address the previous day.

U.S. spot Ethereum ETFs experienced total net outflows of $75.2 million (110.9 billion won) on Dec. 5, marking the second consecutive day of withdrawals, according to data from Farside Investors. BlackRock's ETHA was the only fund to see activity, recording a $75.2 million outflow, while all other ETFs reported no net change in flows. The day's results pushed the cumulative flow for the week of Dec. 1-5 into negative territory.

U.S. spot Bitcoin ETFs recorded a total net inflow of $54.8 million on Dec. 5, marking a return to positive flows after two consecutive trading days of net outflows, according to data from Farside Investors. The inflows came despite a $32.5 million net outflow from BlackRock's IBIT. Gains were led by Ark Invest's ARKB, which saw $42.8 million in net inflows, followed by Fidelity's FBTC with $27.3 million, VanEck's HODL with $11.4 million, Bitwise's BITB with $4.9 million, and WisdomTree's BTCW with $900,000. Despite the daily gain, the spot Bitcoin ETF category still posted a cumulative net outflow for the week of Dec. 1-5.

An expected interest rate hike in Japan could shrink liquidity in risk asset markets, including Bitcoin, amid concerns over the unwinding of the yen carry trade, according to an analysis by CoinDesk. The Bank of Japan (BOJ) is anticipated to raise its benchmark rate by 25 basis points at its December policy meeting, which would be the highest level since 1995. CoinDesk noted that this could diminish the appeal of the yen carry trade, a strategy of borrowing in Japan's ultra-low interest rate environment to invest in higher-yielding assets. A stronger yen typically coincides with risk-off sentiment, potentially tightening the liquidity conditions that recently fueled Bitcoin's recovery. The analysis added that while markets are already anticipating the move, a Japanese rate hike at a time of rising expectations for U.S. rate cuts could force investors to adjust their positions.

Over the past 24 hours, the cryptocurrency perpetual futures market has seen significant liquidations, predominantly affecting long positions. Bitcoin (BTC) liquidations totaled $147 million, with longs accounting for 88.9% of the volume. Ethereum (ETH) saw $98.68 million in liquidations, 82.81% of which were long positions. Meanwhile, Solana (SOL) liquidations reached $21.78 million, with longs making up 88.59% of that total.

Recent concerns over Tether's solvency are somewhat exaggerated, according to James Butterfill, head of research at digital asset management firm CoinShares. In a report cited by Cointelegraph, Butterfill explained that Tether currently holds $181.4 billion in reserves against liabilities of approximately $174.4 billion, maintaining a surplus capital of $6.8 billion. He also noted that Tether generated over $10 billion in net profit during the first three quarters of this year. While stablecoin risks cannot be entirely dismissed, Butterfill argued that the current figures do not suggest a systemic risk. This assessment follows a recent analysis by BitMEX co-founder Arthur Hayes, who stated that a 30% decline in the value of Tether's gold and BTC positions would completely wipe out the company's equity.

Billionaire entrepreneur and venture capitalist Kevin O'Leary has stated that the vast majority of altcoins are essentially worthless and will eventually disappear, with only Bitcoin and Ethereum likely to survive in the long run, Watcher.Guru reported.

Grayscale has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a Sui (SUI) exchange-traded fund (ETF), coinotagen reported.

Two whale addresses that had been dormant for 13 years transferred 2,000 BTC, worth $178.29 million, to a new address, Onchain-Lenz reported.