Woke up on the morning of December 6 and glanced at the market—declines are even more dramatic than before I went to sleep. Bitcoin is still leading the drop, and this move is really getting hard to read.

Bitcoin was still around 93,000 yesterday, but it broke straight through 90,000 and is now hovering at 89,000. Heard there was a big market order dump, but we’ll need to watch for more details.

Ethereum, on the other hand, is holding up and still staying above 3,000. Quite a few people are saying BTC and ETH are starting to diverge; we’ll have to keep an eye on how this plays out.

The wealth effect on Solana is still ongoing. I hope we can regain last year’s momentum in this final month.

Pendle Finance released its 2025 annual report: average TVL for the year reached $5.8 billion, with total trading volume at $47.8 billion. The numbers look good, but PENDLE’s price is close to its yearly low—feels contradictory.

Hassett reiterated his stance on rate cuts and also supported the new proposal requiring regional Fed presidents to reside in their districts for three years.

Bitcoin treasury company Strive is urging MSCI to “let the market decide” whether to remove it from their indices.

Multiple EU countries joined forces to take down a crypto scam network involving $815 million.

Doodles teased the release of 25,000 Doopie Cubes on Solana next week. For a project that was almost dead, it’s suddenly getting this active—really not sure what their plan is.

CoinShares’ report says the DAT bubble has basically burst, but if the macro environment improves, it could provide support for the market.

Cloudflare published an analysis of today’s outage: confirmed it was not caused by a network attack.

US September core PCE data missed expectations, which gives the Fed a green light for further rate cuts. Bank of America says the market might soon price in a rate cut from the Fed in January.

US prosecutors have recommended a 12-year prison sentence for Do Kwon.

Interest in Web3 jobs is picking up again, but the number of positions is still clearly insufficient. Is everyone working regular jobs now instead of trading?

A security company found that the LummaC2 virus has infected North Korean hacker devices linked to a recent exchange theft.

Polish lawmakers failed to overturn the veto on the crypto asset bill.

Paraguay’s House of Representatives has requested official information on domestic crypto mining activities.

National Bank of Canada bought about $273 million worth of Strategy shares.

All in all, there are more and more things in the market that are hard to understand. Maybe give them a try—maybe we’re just overthinking things. Christmas is coming soon; let’s just hope we don’t get a “Christmas tree market.”