Flipster Crypto Weekly (November 28)

Market
Flipster Crypto Weekly (November 28)

BTC snaps back over $90K after a brutal week

November 28, 2025

BTC swung hard through the week, sliding to the mid-$85Ks at the lows before rebounding back above $90K as liquidity stayed thin and every macro print whipsawed the books. ETH tracked the move, hovering around $3K. Bitcoin dominance held near 59%, reflecting cautious flows and a market trading reaction-to-reaction rather than trend.

The biggest headline came out of Korea: Upbit halted all withdrawals after a hack drained $36.8M in Solana-ecosystem tokens. The exchange shifted remaining funds to cold storage, pledged full reimbursement, and began coordinating with authorities and projects to freeze stolen assets. The timing was striking; the Naver–Dunamu merger had just received formal approval, setting up a ₩20T (US$15B) fintech giant. Dunamu also announced a ₩10T (~$6.8B) five-year investment plan to build next-gen financial infrastructure across AI and blockchain.

Macro stayed heavy. U.S. jobless claims dropped to 216K, a seven-month low, reinforcing the view that a December rate cut is unlikely. Despite cooling headlines elsewhere, continuing claims crept higher, a sign that slack is building even as layoffs remain low. With CPI and PPI now digested, BTC stayed pinned in tight ranges as traders wait for the next data point with real direction.

Institutional flows and on-chain moves stayed active:

  • SpaceX shifted $105M in BTC to unmarked wallets.

  • Texas deployed $5M into BlackRock’s IBIT, making BTC the third holding in its new state reserve.

  • Tether emerged as the largest independent holder of gold.

  • Infinex prepares a $15M Sonar ICO at a $300M valuation.

  • Polymarket received CFTC approval to enable intermediated U.S. access.

  • MON sale on Coinbase closed with $269M in commitments for a $187.5M sale.

  • Hyperliquid faces its first cliff unlock on Nov 29: $308M HYPE, with 2.6M already unstaked.

  • Klarna plans to launch its stablecoin on Tempo in 2026.

  • Grayscale and Franklin Templeton launched XRP ETFs, with Grayscale also releasing a DOGE ETF.

  • BTC spot ETFs logged a 4th straight outflow week with $1.22B exiting.

Across the week, flows remained cautious, rotations were shallow, and majors responded quickly to each datapoint without follow-through. Traders kept one eye on macro, one eye on Korea, and waited for the next break in the ranges.

Trade the next swing on Flipster.

Disclaimer: This material is for information purposes only and does not constitute financial advice. Flipster makes no recommendations or guarantees in respect of any digital asset, product, or service. Trading digital assets and digital asset derivatives comes with a significant risk of loss due to its high price volatility, and is not suitable for all investors. Please refer to our Terms.