The crypto market had a busy weekend with regulation, institutional movements, and increased volatility. From Hong Kong to Washington, announcements about stablecoins, interest rates, and ETFs dominated the news.
Markets under pressure
Over the weekend, more than $242 million in long positions on cryptocurrencies were liquidated in just four hours, illustrating the ongoing volatility. This new wave of adjustments is part of a series of similar events throughout 2025, confirming the fragility of the market in the short term.
Regulation in Europe and the United States
The European Commission is preparing a proposal to give ESMA a supervisory role equivalent to that of the US SEC, expected in December. This project is in line with MiCA 2.0 to centralize crypto regulation in Europe.
Across the Atlantic, Donald Trump has appointed pro-crypto lawyer 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 comments come at a time marked by accumulation by institutional players such as the Trump family and Metaplanet.
Major institutional maneuvers
Coinbase is reportedly in advanced talks to acquire stablecoin company BVNK in a $2 billion deal, with Mastercard also involved. At the same time, Bitwise predicts full adoption of cryptocurrencies by Wall Street within the next twelve months, a scenario supported by the rise of its spot ETFs such as Solana BSOL.
Persistent volatility for BTC
Bitcoin remained 12.5% off its all-time high after a difficult October, the worst since 2014. Discussions around BIP-444 and protocol adjustments continue as Bitcoin companies and treasuries reassess their exposure.
Growing role of Hong Kong
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 grant additional licenses by the end of the year while regulating unregistered players.
Positions of tech giants
Jensen Huang, CEO of Nvidia, said that the new trade agreement between Donald Trump and Xi Jinping guarantees his company’s competitiveness in the Chinese market. This announcement comes as Nvidia surpassed $5 trillion in market capitalization, despite ongoing tensions over chip exports.
Interest rate market and monetary policy
US Treasury Secretary Scott Bessent said the Fed should continue to cut rates if inflation falls, while Governor Christopher Waller called for a further reduction as early as December. These statements come at a time when two successive cuts have not caused any significant reaction in the crypto markets.
Exploring new frontiers
Pavel Durov has launched “Cocoon,” a decentralized AI network based on the TON blockchain and Telegram. This project aims to counter dependence on centralized players in the areas of data and artificial intelligence.
Mining activity and energy
In Iran, 95% of cryptocurrency miners still operate illegally, putting considerable pressure on the country’s power grid. The estimated cost of mining one Bitcoin, around $1,300 in electricity, makes the activity extremely profitable despite the energy crisis.
