The crypto market experienced a busy weekend marked by regulatory developments, institutional activity, and heightened volatility. From Hong Kong to Washington, announcements regarding stablecoins, interest rates, and ETFs dominated the news.
Markets Under Pressure
Over the weekend, more than $242 million in long cryptocurrency positions were liquidated in just 4 hours, illustrating persistent volatility. This new wave of market adjustments is part of a series of similar events throughout 2025, confirming the market’s short-term fragility.
Regulation in Europe and the United States
The European Commission is preparing a proposal to grant ESMA a supervisory role equivalent to that of the U.S. SEC, expected in December. This initiative builds on MiCA 2.0 to centralize crypto regulation in Europe. Across the Atlantic, Donald Trump has appointed pro-crypto attorney Michael Selig to head the CFTC, signaling a favorable stance toward the ecosystem.
Bitcoin and Its Supporters on the Offensive
Michael Saylor reaffirmed his accumulation strategy by stating that “the only thing to fear is not having enough Bitcoin,” echoing his previous announcement of new BTC purchases. These remarks come amid a period marked by accumulation by institutional players such as the Trump family and Metaplanet.
Major Institutional Moves
Coinbase is reportedly in advanced talks to acquire the stablecoin company BVNK in a $2 billion deal, with Mastercard also involved. Meanwhile, Bitwise forecasts full adoption of cryptocurrencies by Wall Street within the next twelve months, a scenario supported by the rise of its spot ETFs such as the Solana BSOL.
Persistent Volatility for BTC
Bitcoin remained 12.5% below its all-time high after a difficult October—its worst since 2014. Discussions surrounding BIP-444 and protocol adjustments continue, while companies and Bitcoin treasuries reassess their exposure.
Hong Kong’s Growing Role
Hong Kong will allow crypto trading platforms to access global capital, marking a new milestone in its ambition to become a regulated hub. The region is also preparing to issue additional licenses by the end of the year while regulating unregistered players.
Stances of Tech Giants
Nvidia CEO Jensen Huang stated that the new trade agreement between Donald Trump and Xi Jinping ensures his company’s competitiveness in the Chinese market. This announcement comes as Nvidia’s market capitalization surpassed $5 trillion, despite ongoing tensions over chip exports.
Interest Rate Market and Monetary Policy
U.S. Treasury Secretary Scott Bessent said the Fed should continue to cut rates if inflation eases, while Governor Christopher Waller called for another cut as early as December. These statements come amid a period where two consecutive rate cuts have not triggered a significant reaction in the crypto markets.
Exploring New Frontiers
Pavel Durov launched “Cocoon,” a decentralized AI network based on the TON blockchain and Telegram. This project aims to counter dependence on centralized actors in the areas of data and artificial intelligence.
Mining and Energy
In Iran, 95% of cryptocurrency miners are still operating illegally, placing considerable strain on the country’s power grid. The estimated cost of mining one Bitcoin—about $1,300 in electricity—makes the activity extremely profitable despite the energy crisis.
