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Bitcoin tumbled to $86,000 on Monday, down 5.8%, even as regional stocks opened the final month of 2025 on a steadier footing, buoyed by growing optimism that the US is close to its next interest rate cut. Ethereum sank 6.69% to $2,826.
After hovering near $91,000 at the end of November, Bitcoin had been slipping lower in small steps, a sign of fatigue rather than capitulation.
That changed when a wave of selling punched through several intraday support levels and drove prices toward the $86,900 area, with a sharp spike in sell volume pointing to forced liquidations or large stop orders getting triggered.
Liquidations Surge As Over $600M In Leveraged Crypto Bets Are Wiped Out
Coinglass data shows a major wipeout in the past 24 hours, with about $608m in crypto liquidations. Longs took the hit, accounting for more than $535m, while shorts saw only about $73m. Bitcoin and Ethereum led the move, with roughly $185m and $154m cleared out.
For highly leveraged traders, the move felt less like a tidy pullback and more like a trapdoor that reset positioning going into December. Equity markets looked calmer. MSCI’s broad index of Asia Pacific shares outside Japan was little changed, but is still up 23.5% so far this year and on track for its strongest annual gain since 2017.
Yearn Finance’s yETH Suffers Major Hack, Attackers Send $3M ETH to Tornado Cash
DeFi platform Yearn Finance’s yETH product was hit by an unlimited minting of tokens on Monday, draining the entire yETH pool in a single transaction.
Yearn later confirmed the “incident”, assuring that its V2 and V3 Vaults remain secure and unaffected.
According to blockchain data, the exploit generated a near-infinite number of yETH, draining millions from Balancer pools. Attackers roughly profited 1,000 ETH, worth $3 million, which was routed through the Tornado Cash mixer, Chinese journalist Colin Wu noted.
Nasdaq Pledges Swift Push for SEC Approval of Tokenized Stocks
Nasdaq digital assets chief Matt Savarese announced the exchange has made its tokenized-stock proposal a top priority and will “move as fast as we can” with the SEC to secure approval.
The proposal would allow trading of on-chain “stock tokens,” digital representations of publicly listed shares, under existing national market system rules.
Speaking in a CNBC interview, Savarese emphasized that Nasdaq isn’t trying to upend the existing system but aims to bring tokenization into the mainstream responsibly under SEC oversight.
Upbit Finds Critical Wallet Flaw Amid Probe Into $30M Hack
South Korea’s largest cryptocurrency exchange, Upbit, said it uncovered and repaired a serious flaw in its internal wallet system while investigating the recent $30 million theft from the platform.
In a statement released Friday, Upbit CEO Oh Kyung-seok disclosed that engineers identified a weakness in the exchange’s wallet software that could have allowed attackers to infer private keys by studying publicly available blockchain data.
However, the crypto firm has not confirmed whether the vulnerability played a role in the breach.
Bitcoin Spot ETF Flow
The overall net inflow of the US Bitcoin spot ETF on Friday was $71.37 million. The total net asset value of Bitcoin spot ETFs is $119.39 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.56%.
SoSoValue
The Bitcoin spot ETF with the highest net inflow on Nov. 28 was ARK 21Shares Bitcoin ETF , with a net inflow of $88.04 million. Followed by Fidelity Wise Origin Bitcoin Fund, with a net inflow of 77.45 million, according to SoSoValue.
SoSoValue