Arp's Crypto Digest

General Digital Asset Market View:

In the last week, the market saw continued pressure on Bitcoin (BTC) as U.S. spot Bitcoin ETFs kept seeing withdrawals. iShares Bitcoin Trust (IBIT) — among the largest Bitcoin funds — recorded net outflows of around US $113.7 million over this period, adding to cumulative November outflows that have already approached record levels. Meanwhile, Bitcoin’s price recovered a bit from earlier lows and hovered in the low-to-mid $90,000s by end-of-week, but the ETF outflows capped any strong rally and kept overall sentiment cautious — many investors are still de-risking rather than buying in.

Macro:

Key US economic indicators due include the ISM indices, November’s ADP report and the delayed September PCE report. Elsewhere, ROW PMIs (both manufacturing and services) and European CPI prints will be in focus alongside Korean trade data for November (important following the outsized miss in October IP). The SCOTUS ruling on tariffs is due to be released any day now.

More Crypto:

Solana still leads in raw transaction count, but the real momentum is coming from lower on the board.

Base just crossed 105M transactions in 7 days. Even with a 15% drop in active wallets, its transaction count is still up 3.7%.

Privacy coins remain the strongest-performing sector of the year on a weighted-average basis, outpacing most mainstream narratives in 2025.

Base continues to lead by a massive x402 margin, but Solana is gaining momentum with a 386k-transaction day.

What Happened This Week:

• UAE’s new law brings DeFi and Web3 under regulation

• Tether is now the world’s largest independent holder of gold

• Polymarket gets CFTC approval, opening intermediated U.S. market access

• Texas becomes the first U.S. state to buy Bitcoin, investing $10M in its Strategic Reserve

What to Look Out For:

• Robinhood to launch derivatives exchange for prediction markets

• JPMorgan expects the Fed to cut rates in December

• UK to crack down on crypto tax avoidance in 2026

• Nasdaq seeks to quadruple BlackRock’s IBIT options limits to boost institutional trading and liquidity
  

What we enjoyed reading and listening to:

• The Ultimate Prediction Markets Guide -Link

• Stablecoin Yield — Link

• Closed my ETH Short ($578k Profit). What’s Next for Crypto? -Link

• Why This Cycle Isn’t Playing Out Like the Last Ones -Link
  

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