The Commodity Futures Trading Commission is establishing a CEO Innovation Council to develop cryptocurrency regulatory frameworks. Acting Chair Caroline D. Pham announced the initiative on November 25, 2025, with nominations due by December 8. The move aligns with pending legislation that could expand the agency's authority over digital assets.

Bitcoin has rebounded toward the $87,000 to $90,000 range after declining from $106,000 to $80,600 over 10 days. While whale holders with over 10,000 BTC continue selling, mid-sized holders in the 10–1,000 BTC range are accumulating. Data shows demand from accumulator addresses reached 365,000 BTC on November 23, up from 254,000 BTC on November 1.

U.S. spot Solana exchange-traded funds recorded $58 million in net inflows on Monday, their strongest single-day performance since early November. The products have maintained positive flows for 20 consecutive trading days, bringing cumulative inflows to $568.24 million since launching in late October. Total net assets across all Solana ETFs reached $843.81 million, representing 1.09% of the token's market capitalization.

BONK climbed 13.25% to $0.0000103 after reaching a local bottom of $0.00000844 four days earlier. Trading volume surged 111% to $194 million during the recovery. Whale buyers accumulated 4.3 trillion tokens over three days, with buy orders exceeding sell orders by 300 billion in the latest 24-hour period.

Dogecoin rose more than 2% to approximately $0.15 following the launch of Grayscale's GDOG, the first U.S. spot Dogecoin ETF listed on NYSE Arca. On-chain data show daily transactions exceeded 1.5 million, while trading volumes surpassed $1.5 billion across exchanges, reflecting heightened institutional and retail interest in the memecoin.

A major institutional player executed a $2 billion Bitcoin options strategy on Deribit, positioning for a recovery toward six-figure price levels. The trade structure suggests conviction that recent market liquidations have cleared the path for upward movement. Retail investors continue selling while larger holders accumulate.

Ethena's USDe stablecoin saw total value locked decline from $14.8 billion in October to $7.6 billion, a contraction exceeding 50%. The drawdown occurred as annual percentage yields compressed to approximately 5.1%, falling below the 5.4% cost of borrowing USDC on Aave. The shift triggered unwinding of leveraged carry-trade positions that had previously driven growth.

Grayscale listed the first U.S. spot Dogecoin exchange-traded fund on the New York Stock Exchange under ticker $GDOG on November 24, 2025. DOGE rose 2.2% following the launch, with 24-hour trading volumes reaching $1.5 billion. Bitwise plans to introduce its own Dogecoin ETF this week.