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Crypto markets saw a broad-based pullback after several days of steady gains, with the PayFi sector leading losses at nearly 4%. XRP slid 4.37%, while Bitcoin dipped 1% to fall back below $93,000 and Ethereum dropped under $3,200.
CZ Pushes to Make America a Global Crypto Capital as Binance Eyes US Expansion
Changpeng Zhao (CZ), founder of the world’s largest cryptocurrency exchange Binance, announced plans to help make America a global crypto hub. CZ shared his thoughts on the United States market during a private press conference at Binance Blockchain Week, which took place at the Coca Cola Arena in Dubai Dec. 3-4.
When asked by a member of the media about his involvement in the US following President Trump’s pardon, CZ explained that he is “very appreciative of the pardon from Trump,” noting that this allows Binance to conduct business more “freely” in every part of the world – America included.
CFTC Paves Way for Spot Crypto Trades on Futures Exchanges
Listed spot crypto products will be allowed to start trading on registered futures exchanges, the Commodity Futures Trading Commission said Thursday, as the Trump administration moves to further embrace the digital asset industry.
“Now, for the first time ever, spot crypto can trade on CFTC-registered exchanges that have been the gold standard for nearly a hundred years, with the customer protections and market integrity that Americans deserve,” Acting Chairman Caroline Pham said in a statement.
BOJ Poised for December Rate Hike to Highest Level Since 1995
The Bank of Japan is reportedly preparing to raise interest rates at its December policy meeting, which would lift borrowing costs to their highest level since 1995. Bloomberg reported citing sources familiar with the matter that officials are ready to move unless major economic or market shocks emerge, and may also signal a willingness to continue tightening if their economic outlook holds.
Markets are pricing in a roughly 90% chance of a hike, driven by stronger corporate profits, improving wage pressures, and clearer expectations around the impact of U.S. tariffs. The BOJ is expected to remain cautious about how far rates will ultimately rise, emphasising the need to assess the economy’s response after each step toward its estimated neutral rate range of 1%–2.5%.
Santiment: XRP Panic Hits Highest Level Since October
Market sentiment around XRP has hit its most extreme panic level since October, according to on-chain analytics firm Santiment. The token has dropped 31% over the past two months, with social data showing a sharp rise in fear among traders. Santiment noted that the last comparable spike in panic occurred on November 21, when XRP went on to jump 22% in the following three days before greed overtook the market and the rally faded. The firm suggests a similar setup may now be forming.
Bitcoin Spot ETF Flow
The overall net outflow of the US Bitcoin spot ETF on Thursday was $194.64 million. The total net asset value of Bitcoin spot ETFs is $120.68 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.54%.
SoSoValue
The overall net outflow of the US Bitcoin spot ETH on Thursday was $41.57 million.
The Bitcoin spot ETF with the highest net inflow on Dec. 4 was iShares Bitcoin Trust, with a net outflow of $112.96 million. Followed by Fidelity Wise Origin Bitcoin Fund, with a net outflow of $54.2 million, according to SoSoValue.
SoSoValue
