GM. Bitcoin slipped below $95,000 as shifting Fed expectations erased hopes of near-term rate cuts, sparking over $1bn in liquidations and a sharp sentiment reset.

Meanwhile, Michael Saylor denied reports that Strategy sold BTC, Harvard and Emory boosted Bitcoin ETF holdings, and Japan plans to classify crypto as financial products.

Here’s what’s kicking off the week in markets, institutions, and regulation. 👇

Bitcoin Slides Below $95,000 Amid Fed Uncertainty

Bitcoin fell below $95,000 over the weekend, extending a weeklong 7.5% decline that triggered more than $1 billion in liquidations. Analysts attributed the drop to shifting Federal Reserve expectations and fading optimism around interest rate cuts before year-end.

Market data shows traders now assign only a 55.6% chance the Fed will keep rates unchanged in December, down sharply from last month’s 94% odds of a cut. The macro rotation has weighed heavily on crypto assets, pushing BTC through its key $100,000 support level for the third time this quarter.

CryptoQuant analyst CrazzyBlockk described the pullback as a “mid-cycle correction,” noting that short-term holder losses remain far from capitulation thresholds. “Historically, panic selling at these levels signals a washout phase, not the onset of a macro bear market,” they said.

Technical analyst Benjamin Cowen warned that Bitcoin’s close below its 50-week moving average raises the odds of a market top forming near-term. He said a rebound above that level next week is critical to prevent a deeper retrace toward the $60,000-$70,000 range by mid-2026.

Saylor Refutes Claims Strategy Sold Bitcoin Holdings

Michael Saylor dismissed reports that his company Strategy had sold 47,000 Bitcoin following disputed onchain data. A post from popular X user Walter Bloomberg cited Arkham metrics suggesting reduced holdings from 484,000 to 437,000 BTC. Saylor responded that Strategy was actively buying more Bitcoin and would publish its next acquisition update Monday morning.

Arkham clarified the wallet changes reflected custodian rotations, not asset sales, confirming Strategy’s total holdings remain above 640,000 BTC. Recent filings show the firm bought 487 Bitcoin worth nearly fifty million dollars earlier this month. Despite market volatility dragging Bitcoin below $97,000, Saylor reaffirmed Strategy’s accumulation plan and long-term bullish outlook.

Harvard and Emory Expand Bitcoin ETF Positions

Harvard and Emory University increased their Bitcoin exposure in the third quarter through major spot ETF holdings. Harvard reported owning 6.8 million iShares Bitcoin Trust shares valued near $443 million, up from fewer than two million previously. Emory disclosed one million Grayscale Bitcoin Mini Trust shares worth $52 million and additional IBIT exposure.

The allocations remain small within endowment portfolios but highlight rising institutional confidence in regulated Bitcoin investment vehicles. Analysts said ETF access allows universities to treat digital assets like traditional equities under familiar custodial frameworks. Despite recent BTC ETF outflows and market weakness, the filings underscore sustained long-term adoption among US investors.

Japan to Classify Crypto Coins as Financial Products

Japan’s Financial Services Agency is drafting legislation to classify 105 cryptocurrencies as financial products under securities law. The framework would impose insider trading rules and require detailed token disclosures on blockchain technology, volatility, and issuer identity. Officials aim to introduce the proposal to parliament in 2026 after industry consultation and technical assessments.

The agency also plans to shift taxation on crypto profits from variable income rates to a flat 20%. Regulators said harmonizing crypto and stock treatment will improve transparency and attract institutional participation. Authorities are additionally reviewing whether banks should hold or trade Bitcoin directly under expanded investment permissions.

Data of the day

Market sentiment plunged as the Crypto Fear & Greed Index dropped to 11, signaling “Extreme Fear” conditions. The score, the lowest since February, followed Bitcoin’s decline below $95,000 amid ongoing macroeconomic uncertainty and ETF outflows. Analysts expect pessimism to ease as technical indicators show early signs of a potential reversal.

Bitwise research head Andre Dragosh said sentiment remains less bearish than during earlier corrections despite weaker prices. Other analysts noted divergence between headline negativity and onchain activity, suggesting resilient long-term participation. Bitcoin traded near $96,000 Saturday, with investors awaiting upcoming Federal Reserve signals on future interest-rate decisions.

More breaking news

• The US Department of Justice seized $15 million in Tether linked to North Korean hackers and charged five people for helping infiltrate 136 companies.

• Oklahoma resident Travis Ford was sentenced to five years in prison for running the $9.4 million Wolf Capital crypto Ponzi scheme that defrauded 2,800 investors.

• Tether is reportedly in talks to lead a $1.2 billion round for Germany’s Neura Robotics, diversifying its $10 billion profits into AI and automation.

• BitMine named Chi Tsang as its new CEO while expanding its $11 billion Ether treasury, now among the largest corporate holdings in the sector.

• BlackRock and Binance partnered to extend the $2.5 billion BUIDL tokenized Treasury fund onto BNB Chain, enabling onchain collateral for institutional traders.

• Uniswap introduced Continuous Clearing Auctions on v4, a permissionless protocol designed to bootstrap liquidity and establish fair market prices for new tokens.

• Jack Dorsey’s Cash App added Lightning Network and stablecoin payments, enabling instant Bitcoin or USD transactions across millions of Square-linked merchants.

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