PANews reported on November 24th, citing Cointelegraph, that Greg Cipolaro, Head of Research at NYDIG, stated in his latest report that while cryptocurrency ETF inflows and demand for DAT once propelled Bitcoin to record highs, they have now led to a price decline. He pointed out that the liquidations in early October triggered a reversal of ETF inflows, a sharp drop in the DAT (DAT) premium, and a decline in stablecoin supply, indicating that funds are flowing out of the system. Spot Bitcoin ETFs, once the most prominent success story of this cycle, have now become a factor hindering Bitcoin's growth, although global liquidity and macroeconomic news continue to influence Bitcoin. During cyclical corrections, Bitcoin's dominance often rises because funds flow back to the most mature assets. Currently, Bitcoin's dominance has fallen from over 60% in early November to approximately 58%. DAT and stablecoins were once significant sources of demand for Bitcoin, but now, with DAT premiums shrinking and stablecoin supply declining, investors appear to be withdrawing liquidity. Cipolaro believes that even if the market correction deepens, the DAT sector still has room to maneuver and has not yet shown signs of financial distress. Despite the recent pullback, Cipolaro remains optimistic about Bitcoin's long-term prospects, believing it is gaining institutional favor, sovereign interest is increasing, and its role is solidifying. However, he cautions that a cyclical narrative is emerging, and investors should prepare for the worst, as the road ahead may be fraught with challenges.PANews reported on November 24th, citing Cointelegraph, that Greg Cipolaro, Head of Research at NYDIG, stated in his latest report that while cryptocurrency ETF inflows and demand for DAT once propelled Bitcoin to record highs, they have now led to a price decline. He pointed out that the liquidations in early October triggered a reversal of ETF inflows, a sharp drop in the DAT (DAT) premium, and a decline in stablecoin supply, indicating that funds are flowing out of the system. Spot Bitcoin ETFs, once the most prominent success story of this cycle, have now become a factor hindering Bitcoin's growth, although global liquidity and macroeconomic news continue to influence Bitcoin. During cyclical corrections, Bitcoin's dominance often rises because funds flow back to the most mature assets. Currently, Bitcoin's dominance has fallen from over 60% in early November to approximately 58%. DAT and stablecoins were once significant sources of demand for Bitcoin, but now, with DAT premiums shrinking and stablecoin supply declining, investors appear to be withdrawing liquidity. Cipolaro believes that even if the market correction deepens, the DAT sector still has room to maneuver and has not yet shown signs of financial distress. Despite the recent pullback, Cipolaro remains optimistic about Bitcoin's long-term prospects, believing it is gaining institutional favor, sovereign interest is increasing, and its role is solidifying. However, he cautions that a cyclical narrative is emerging, and investors should prepare for the worst, as the road ahead may be fraught with challenges.

                                                                               BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate.                     BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more