Digital currency market in the past week (December 2, 1404)

In the past week, the cryptocurrency market witnessed unprecedented volatility and turmoil. The crypto fear index fell to an all-time low, the price of Bitcoin plummeted, and global markets fluctuated heavily under pressure from macroeconomic indicators.

The fall of the crypto fear and greed index and the fall of Bitcoin: The crypto fear and greed index reached 11, which indicates the extreme fear and concern of investors. By falling below $82,000, Bitcoin price recorded its worst monthly performance since 2022.

Launch of Dogecoin and Ripple ETFs by Greyscale: Grayscale plans to launch Dogecoin and Ripple ETFs on the New York Stock Exchange on November 24. In the weak market conditions, this event will be an important test to measure the demand of investors and the acceptance of legal products of altcoins.

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Political and regulatory developments in America: Michael Silig, Trump’s choice to head the Commodity Futures Trading Commission (CFTC), is one step closer to the final selection and is expected to make crypto regulations in the US more transparent.

At the same time, the Securities and Exchange Commission (SEC) changed its review priorities and removed digital currencies from the 2026 plans, indicating an approach to reduce regulatory pressure.

The shock of Japanese bonds to global markets: The yield on Japan‘s 30-year bond rose to 3.33 percent, fueling fears of a global liquidity squeeze. This caused the S&P 500 and NASDAQ to fall, showing once again that a crisis in macro markets can directly affect crypto.

Other developments in the crypto market

• The new Bitcoin-for-America plan allows federal taxes to be paid with BTC without capital gains tax and could increase the US government’s Bitcoin reserves.

• Cardano suffered a temporary split with a malicious transaction and the price of ADA fell by more than 6%.

• More than 65 major crypto companies asked Trump to adopt a policy to support the cryptocurrency industry.