Arp's Crypto Digest

General Digital Asset Market View:

Over the week of Nov 30 to Dec 5, Bitcoin traded mostly in the low-to-mid $90K range, with sentiment still soft and upside capped. Spot Bitcoin ETFs in the U.S. saw renewed withdrawals, including roughly $195 million of outflows in a single day on December 4 — the biggest daily exit in about two weeks. Over the past month, redemptions from major funds such as IBIT have been persistent, with several billion dollars leaving since late October. The flow trend reflects profit-taking and an unwinding of basis trades rather than a full exit from institutions, but it has been enough to weigh on price momentum and keep Bitcoin from reclaiming a stronger bullish trend.

Macro:

The focus next week will be on central bank decisions including the Fed on Wednesday (the RBA, BoC & SNB also meet). Economic data highlights feature inflation and trade figures in China and the monthly GDP (incl accompanying data dump) in the UK. Earnings are due from Oracle, Adobe and Broadcom.

More Crypto:

November 2025 turned into Bitcoin’s second-worst month in the past three years.

The 16.5% drop reflects fading market confidence and a clear lack of bullish momentum, potentially hinting at the early stages of a bearish shift.

A few months back, everyone was watching ICM and the rise of AI-agent plays.

It still feels like that’s where the market is heading, but token performance hasn’t caught up to the narrative yet. So far this year, privacy tokens are the only sector firmly in the green. 

Tokenized RWA has reached $36.1B across more than 554K holders.

Private Credit leads with $18.8B, followed by U.S. Treasuries at $9.2B — together making up roughly 78% of the market. The shift shows traditional financial products steadily moving on-chain, offering real cash-flow assets with blockchain-level efficiency.

What Happened This Week:

• U.S. September PCE rises 2.8% Y/Y, matching estimates and hitting its highest since Oct 2023

• CFTC approves first US-regulated spot crypto trading on registered exchanges

• BlackRock CEO Larry Fink says sovereign wealth funds are buying Bitcoin

• UK passes law recognizing crypto as a third type of property

What to Look Out For:

• $11.6T Charles Schwab to offer Bitcoin and Ethereum trading in early 2026

• Taiwan says its first regulated stablecoin will launch in 2026

• White House adviser Hassett says the Fed will likely cut rates next week

• Solmate to acquire RockawayX in an all-stock deal to build a $2B institutional Solana platform

What we enjoyed reading and listening to:

• 2026 Outlook: Restructuring — 100y’s Perspective -Link 

• Robin Hanson, the father of Prediction Markets -Link

• Ethereum’s Next Decade: Inside the EF’s Vision at Bankless Summit -Link

• Jupiter CoFounder: How We’re Bringing Crypto To 1 Billion People | E150 -Link

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