Cantor Fitzgerald has issued a 62-page report projecting strong long-term growth for the Hyperliquid decentralized exchange and its HYPE token, which currently has a fully diluted valuation of about $15.8 billion. The analysis outlines a path for annual protocol fees to potentially exceed $5 billion over the next decade and, under certain assumptions, suggests the token price could climb to $271 at a $125 billion fully diluted market cap. HYPE is trading near $26.49, down almost 32% over the past month and roughly 55% below its all-time high of $59.30.

Bitcoin has traded between $85,000 and $93,000 for over a month, repeatedly failing to reclaim resistance at $94,000 while hovering just above $87,860. Market analyst NoLimit recently suggested on X that BTC could form a cycle low near $40,000 in 2026, implying a drawdown of about 54% from current levels. He bases this view on Bitcoin's recurring four-year cycles, past peak-to-trough declines of 77%–85%, and technical areas around $40,000 that he believes could set the stage for the next major rally.

At the start of the week, XRP slipped 4%, leaving the token trading at nearly half of its historical peak, while market analysts project a potential advance toward $3 in early 2026. Their projections center on Vanguard's approval of XRP exchange-traded funds, rapid ETF inflows and a sharp drop in tradable supply on exchanges. These factors, combined with varying institutional allocation scenarios, are seen as key to whether XRP can break above $2.25 and eventually challenge the $3 mark.

Coinbase is preparing to launch an internal prediction market in partnership with Kalshi. The Information said on November 19 that the product would be powered by Kalshi, with a formal unveiling slated for the Coinbase System Update event on December 17. A leaked dashboard screenshot shared by Jane Manchun Wong on X hints at the upcoming features.

Pakistan signed an MoU with Binance to explore tokenizing up to $2 billion in sovereign bonds, treasury bills and commodity reserves. The plan aims to improve liquidity and market access, while final approval remains pending, the finance ministry said. Separately, Pakistan’s regulator granted initial clearance for Binance and HTX to register locally and begin applying for full exchange licenses.

BitcoinTreasuries.Net reported that, since November, corporate Bitcoin treasuries have faced sizeable unrealized losses. In a sample of 100 firms, 65% bought BTC above current market prices, leading some companies to sell part of their holdings. The report anticipates about 40,000 BTC added to public company balance sheets in Q4 2025, a tally below each of the previous four quarters.

Bitcoin (BTC) swung to new all-time highs in 2025 before retracing as much as 30%, fueling debate over whether a bear phase has already played out. Market analyst Shanaka Anslem argues the cycle inverted when BTC topped its prior peak before the April Halving and characterizes 2024 as "political repricing," according to a post on X. He sees 2025 displaying bear-market traits and a path to $150,000–$200,000 in 2026, while other analysts caution prices could still slip toward $54,000–$60,000.

Ethereum's Fusaka upgrade activates Wednesday, introducing fee structure changes analysts expect to drive supply contraction. The upgrade addresses a structural issue where Layer 2 solutions generated substantial user fees but contributed minimal revenue to the base layer, potentially shifting Ethereum toward deflationary supply dynamics. Analysts project the changes could burn an additional 200,000 to 400,000 ETH annually under conservative estimates.

Strategy CEO Phong Le disclosed that the company could sell Bitcoin if its stock price falls below the net asset value of its cryptocurrency holdings and it cannot secure capital for preferred dividends. Bitcoin dropped below $85,000 amid the speculation. The firm revised its year-end BTC price forecast from $150,000 to a range of $85,000–$110,000.