Weekly Recap | Bitcoin Drops to 80K, Echobit Homepage Goes Live, Grayscale Dogecoin and XRP ETFs Set
2025.11.24
Last Week in Review (Nov 17 – Nov 23)
The crypto market saw a sharp correction last week, with Bitcoin briefly dropping toward the 80,000 USD range, pushing market sentiment into a quarterly fear zone. Both on-chain indicators and technical metrics fell to extreme levels. In the short term, Bitcoin may see a rebound driven by sentiment and technical factors, but medium- and long-term headwinds remain, including ETF outflows and uncertain Federal Reserve policy guidance.
Investors should remain cautious of macro risks such as policy volatility and liquidity withdrawal. If consumer and employment data show mild weakness this week, the market may enter a phase of technical recovery. Analysts note that the 80,000 USD level may serve as an area to observe potential mid-to-long-term allocation demand.
This recap highlights key developments from the past week and outlines major trends and events to watch in the week ahead.
Market Pulse
- US Bitcoin spot ETFs recorded a net outflow of 1.216 billion USD last week; US Ethereum spot ETFs saw 500 million USD in net outflows
- Port3 Network exploited due to a BridgeIn vulnerability, resulting in unauthorized token minting
- Bloomberg: The US has launched an investigation into Bitmain over national security concerns
- Reports indicate Polymarket is planning a new funding round valuing the firm at 12 billion USD
- UAE has accumulated approximately 6,450 BTC through state-supported mining operations
- New Hampshire approved the first 100 million USD municipal bond backed by Bitcoin collateral
Funding & M&A
Last week saw 18 financing deals totaling more than 1.3 billion USD, with activity concentrated in DeFi, AI, and infrastructure:
- Decentralized hedge fund Numerai raised 30 million USD at a valuation of 500 million USD
- CratD2C, a Layer-1 decentralized autonomous intelligent chain, secured a 30 million USD strategic investment from Nimbus Capital
- Kraken received a 200 million USD investment from Citadel Securities, raising its valuation to 20 billion USD
- Crypto-banking fintech Deblock completed a 30 million EUR Series A round led by Speedinvest
- Kalshi raised 1 billion USD at an 11 billion USD valuation, led by Sequoia and CapitalG
- Web3 gaming project WizzWoods raised 10 million USD in its Series A round
- New crypto incubator Obex raised 37 million USD to support yield-based stablecoins
Policy & Compliance
- Trinidad and Tobago passed a cryptocurrency regulatory bill governing digital assets and service providers
- Hong Kong’s SFC added “AmazingTech” to its warning list of suspicious virtual asset trading platforms
- India plans to launch the debt-backed stablecoin ARC in early 2026
- Donald Trump signed a bill authorizing the release of the Epstein files
- BlackRock registered the iShares Ethereum Staking ETF entity in Delaware
- AMINA received an expansion of its Hong Kong SFC Type 1 license, enabling compliant crypto trading and custody services
Echobit Highlights
- Echobit New Homepage Launch Rewards Event
- Echobit November Futures Trading Competition
- Echobit Puzzle Game Challenge
- Echobit Lucky Time Treasure Hunt Week
- Echobit Spot the Missing Shape Event
- Echobit Show Your Position Reward Event
- Echobit New Homepage Special Campaign
Week Ahead (Nov 24 – Nov 30)
- Grayscale Dogecoin ETF and XRP ETF to list on NYSE on Nov 24
- Monad Mainnet and the MON token to launch on Nov 24
- EU to ban trading of the Russia-linked A7A5 stablecoin starting Nov 25
- MegaETH to launch its pre-deposit cross-chain bridge on Nov 25 with a 250 million USD cap
- Starknet v0.14.1 scheduled for mainnet release on Nov 25
- Naver board to confirm acquisition plans for Dunamu, parent of Upbit, on Nov 26
- US jobless claims for the week ending Nov 22 to be released Wednesday
Echobit will continue to track global crypto developments, monitor regulatory trends, follow market shifts, and highlight funding opportunities—helping you navigate both bull and bear markets with clarity and confidence.