Bitcoin bulls must defend key level to avoid $76K, say analysts

Cointelegraph

Bitcoin is currently hovering at a critical technical level that needs to be defended to prevent major losses, according to crypto analyst “Daan Crypto Trades.”

He was referring to the 0.382 Fibonacci retracement zone, which serves as a key area of support and resistance during market cycles.

“I think this is a key area for the bulls to defend,” he said, observing that a break below it could result in a Bitcoin (BTC) fall to April lows around $76,000.

“It’s also pretty much the last major support before testing the April lows again, which would break this high time frame market structure.”

Late on Sunday, Bitcoin was hit with another short leverage flush, with leveraged positions being liquidated on both sides. The asset fell below $88,000 briefly before quickly bouncing back above $91,500.

“This is another example of manipulation on the low-liquidity weekend to wipe out both leveraged longs and shorts,” commented “Bull Theory.”

All eyes are on the Fed meeting this week

The Federal Open Market Committee’s monetary-policy meeting on Tuesday and Wednesday will conclude with a decision on rates, with a 0.25% cut widely expected.

Crypto markets have lost momentum since the October cut, as Fed Chair Jerome Powell “signaled a non-linear, data-dependent easing path rather than a clear-cutting cycle,” 10x Research head Markus Thielen said in a note shared with Cointelegraph.

Related: Bitcoin buries the tulip myth after 17 years of proven resilience says ETF expert

He added that the market now expects a 25-basis-point cut on Dec. 10, followed by a cautious tone, “which would mirror October’s hawkish execution and sustain mild pressure into year-end.”

“With volumes already depressed and ETF flows negative, upside participation remains thin while the $70,000–$100,000 BTC range holds and implied volatility continues to compress, leaving downside risk more pronounced than upside.”

Fed outlook statement will be key

Apollo Capital’s Henrik Andersson echoed the sentiment, telling Cointelegraph that a Fed rate cut this week is already priced in, but the key for the market direction will be the outlook statement. He remained cautiously optimistic for next year.

“However, with the Fed chairman being replaced in May next year, we will likely get more interest rate cuts in 2026, which should be supportive for risk assets, including crypto.”

Director of LVRG Research, Nick Ruck, agreed, telling Cointelegraph that, in addition to the Fed meeting, upcoming jobs and inflation data releases “could unlock renewed liquidity inflows and propel a broader market rebound if they align with expectations for continued monetary easing.”

Magazine: XRP’s ‘now or never’ moment, Kalshi taps Solana: Hodler’s Digest

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Robinhood to enter Indonesia by acquiring local crypto trading firm

The Block

Robinhood is acquiring a brokerage firm and a cryptocurrency trading company in Indonesia, marking the U.S. trading platform's foray into Southeast Asia's largest economy.

In a Sunday blog post, Robinhood announced that it has entered into agreements to acquire Indonesian brokerage PT Buana Capital Sekuritas and digital asset trader PT Pedagang Aset Kripto.

The deals are subject to customary closing conditions, including approval from the Indonesian Financial Services Authority. Robinhood expects both deals to close in the first half of 2026.

Robinhood plans to continue serving Buana Capital's existing brokerage customers with local financial products. The company said it hopes to introduce Robinhood's signature brokerage and crypto trading services in Indonesia, including access to U.S. equities and digital assets.

"Indonesia represents a fast-growing market for trading, making it an exciting place to further Robinhood's mission to democratize finance for all," said Patrick Chan, head of Asia at Robinhood. "We look forward to bringing Indonesians the same innovative services that have earned the trust of Robinhood customers globally."

Pieter Tanuri, the majority owner of both Buana Capital and PT Pedagang Aset Kripto, is expected to remain involved as a strategic advisor to Robinhood following the acquisitions.

Robinhood's stock closed down 3.7% at $131.95 on the Nasdaq on Friday, according to The Block's price page. The shares have risen 79.8% over the past six months.

Indonesia's growing market appeal is drawing interest from overseas exchanges. Hong Kong's OSL, for example, announced in June a $15 million acquisition deal for a 90% stake in Evergreen Crest, which runs an Indonesian crypto exchange.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

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Farcaster shifts focus to wallet service over social app, citing growth potential

The Block

Decentralized social media protocol Farcaster is shifting its focus to expanding its wallet service, moving away from a social-first approach.

In a series of posts published last week on the Farcaster platform, co-founder Dan Romero outlined the company's new direction, saying wallet growth will be key to increasing the protocol's user base.

"We tried social-first for 4.5 years … It didn't work for us," Romero wrote. "Wallet has been growing so we're doubling down on that direction. That means new features and product positioning will be wallet-focused."

In another post, Romero stated that despite the platform's efforts to achieve sufficient decentralization and rely on product-led protocol development, the team ultimately failed to find a sustainable growth mechanic for its Twitter-like social network service.

However, Romero said the in-app wallet Farcaster launched earlier this year has been growing at a fast pace. "We think it's the closest we've been to product-market fit in five years," Romero noted.

The Farcaster co-founder said users attracted to its wallet feature will ultimately become loyal users of the protocol. Farcaster plans to build out the wallet's social features using its existing social network infrastructure.

The announcement triggered mixed responses within the Farcaster community. Supporters praised the move as a pragmatic step toward scalability. Critics, however, expressed concerns over the cultural shift, and the perceived exclusion from the platform for being non-traders.

Farcaster, which operates on Ethereum Layer 2 networks including Base, has seen steady protocol adoption since its 2020 inception. However, it reported total earnings of $1.84 million in the fourth quarter of 2025, which is an 85% year-over-year decline.

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Philippines’ fastest growing digital bank rolls out crypto services

Cointelegraph

Philippines digital bank GoTyme, which has 6.5 million customers, has rolled out crypto services in the Philippines following a partnership with US fintech firm Alpaca.

A total of 11 crypto assets can now be bought and stored in GoTyme’s banking app via an auto conversion from the Philippine peso to USD, including Bitcoin (BTC), Ether (ETH), Solana (SOL), Polkadot (DOT) and a host of other altcoins.

It is unclear if the firm will offer more sophisticated trading services in the future; however, the focus appears to be on simplicity and ease of access.

“Our product focuses on simplicity and reliability, designed for people who want to buy crypto confidently without complicated technical analysis or managing multiple apps,” said GoTyme CEO Nate Clarke.

GoTyme was launched in October 2022, with Nikkei Asia reporting in September that the bank has built up a client base of over 6.5 million people in the Philippines to date.

The digital bank was formed via a partnership between Singapore-based unicorn Tyme Group and Filipino conglomerate Gokongwei Group.

According to GoTyme’s website, the app is designed to enable users to set up a bank account and debit card within 5 minutes, suggesting users could have easy access to crypto.

GoTyme eyes growth in South East Asia

With plans to expand into Vietnam and Indonesia, the firm is looking to capture market share in the rapidly growing digital banking sector in Southeast Asia.

Related: French banking giant BPCE to launch in-app crypto trading: Report

In a recent article from the Digital Banker, Clarke stated that the bank is focused on scaling rapidly and won’t be eyeing profitability until 2027.

“We are very much still in a growth phase. We are not optimising for profitability at the moment. What matters to us is building a growing and engaged customer base,” Clarke said.

The Philippines is no lightweight in terms of crypto adoption, ranking ninth on Chainalysis’ 2025 Global Crypto Adoption Index Top 20, with the government weighing up a bill to create a strategic reserve with 10,000 BTC this year.

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McGlone: Bitcoin Likely Below $84K by Year-End

U.Today

Mike McGlone, Bloomberg Intelligence's senior commodity strategist with over 25 years in futures trading, argues Bitcoin's year-end 2025 price below $84,000 could signal risk-off sentiment across stocks and commodities.

He believes that the leading cryptocurrency is more likely to end 2025 below the aforementioned level than above $94,000.

Will Bitcoin lead the next recession?

McGlone's bearish outlook on Bitcoin and broader risk assets emerges as a consistent thread across his commentary over the past month.

It is rooted in a confluence of mean-reversion pressures and historical parallels to past downturns.

So far, McGlone's anti-Bitcoin bet has been playing out nicely, with the flagship coin vastly underperforming gold.

The Bloomberg analyst views Bitcoin as harbingers of post-inflation deflation.

He repeatedly frames the crypto king as a high-beta leader poised to drag the S&P 500 and other speculative assets lower.

The Federal Reserve's easing cycle has failed to stem its slide, which echoes the 2007 stock market peak. Back then, the initial rate cuts preceded a 50% plunge.

As reported by U.Today, McGlone recently predicted that BTC could actually lead the next recession.

Is $10,000 in the cards?

He has recently predicted that Bitcoin could fall back to $10,000 under a severe “bear‑case” scenario.

Such an extremely bearish scenario will be possible if macroeconomic stress and structural weakness in crypto continue.

Of course, it should be noted that this is just the “worst- case” scenario.

However, McGlone does see BTC plunging to $50,000 amid weakening sentiment as a realistic scenario.

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Solana (SOL) Recovery Momentum Hinges on Price Closing Firmly Above $140

NewsBTC

Solana started a recovery wave above the $132 zone. SOL price is now consolidating and faces hurdles near the $138 zone.

SOL price started a decent recovery wave above $130 and $132 against the US Dollar.
The price is now trading below $138 and the 100-hourly simple moving average.
There was a break above a key bearish trend line with resistance at $132 on the hourly chart of the SOL/USD pair (data source from Kraken).
The price could continue to move up if it clears $138 and $140.

Solana Price Eyes Upside Break

Solana price remained stable and started a decent recovery wave from $128, like Bitcoin and Ethereum. SOL was able to climb above the $130 level.

There was a move above the 23.6% Fib retracement level of the downward move from the $147 swing high to the $128 low. Besides, there was a break above a key bearish trend line with resistance at $132 on the hourly chart of the SOL/USD pair.

Solana is now trading below $138 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $137 level, the 100-hourly simple moving average, and the 50% Fib retracement level of the downward move from the $147 swing high to the $128 low.

The next major resistance is near the $140 level. The main resistance could be $142. A successful close above the $142 resistance zone could set the pace for another steady increase. The next key resistance is $150. Any more gains might send the price toward the $155 level.

Another Decline In SOL?

If SOL fails to rise above the $140 resistance, it could continue to move down. Initial support on the downside is near the $132 zone. The first major support is near the $130 level.

A break below the $130 level might send the price toward the $128 support zone. If there is a close below the $128 support, the price could decline toward the $120 zone in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.

Major Support Levels – $132 and $130.

Major Resistance Levels – $138 and $140.

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Binance secures full ADGM authorization for exchange, custody, and broker-dealer services

Crypto Briefing

Binance, a major crypto exchange platform, has received full authorization from Abu Dhabi’s Financial Services Regulatory Authority (FSRA), which enables the company to operate trading venues, clearing infrastructure, and broker-dealer activities in the emirate.

The authorization reflects the UAE’s growing leadership in digital finance and provides Binance with a trusted regulatory home to support global operations. It also reinforces Binance's expansion into jurisdictions with clear crypto frameworks as the exchange continues to facilitate trading and custody services globally.

Regulated activities are scheduled to commence in early 2026, providing users with enhanced protection under ADGM’s gold-standard framework.

Richard Teng, Binance's co-CEO who previously worked in financial regulation at Abu Dhabi Global Market, has emphasized the company's focus on regulatory compliance as it pursues strategic growth opportunities.

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