XRP shows renewed strength as traders crunch the charts to see if a rally into 
the $2.30 to $2.50 zone is possible. Does the bulk of the move depend on 
Bitcoin’s short-term performance?

XRP faces ‘now or never’ moment as traders eye rally to $2.50

IREN Limited is stacking up fresh financing, pricing a twin convertible-notes 
offering and a concurrent share sale expected to top $2 billion as the company 
moves to chip away at portions of its older convertible debt. IREN’s Latest 
Financing Push: Two Convertible Notes, One Big Equity Sale IREN priced $1 
billion of 0.25% convertible senior […]

IREN Rolls out Massive Convertible Bond Offering to Retire Older Debt

BlackRock links rising US national debt to potential crypto adoption, citing 
fiscal risks as a catalyst for alternative assets.
The post BlackRock views rising US national debt as catalyst for crypto 
adoption appeared first on Crypto Briefing.

BlackRock views rising US national debt as catalyst for crypto adoption

The Federal Reserve has officially brought its multi-year quantitative 
tightening program to a close, freezing its balance sheet at about $6.57 
trillion after draining more than $2.3 trillion from the system since 2022. 
The Federal Reserve’s decision to formally end quantitative tightening has 
created a sense of anticipation across the crypto market. Liquidity inflows 
have shaped every major crypto cycle, and removing the multi-year drain on 
liquidity is expected to set the stage for healthier crypto market conditions 
and see the Bitcoin price push above $100,000 in the coming days. Policy Shift 
Meets A Market Still Searching For Direction The Fed has frozen its balance 
sheet at roughly $6.57 trillion after three years of balance-sheet reduction. 
Treasury runoff has stopped on December 1, though mortgage-backed securities 
will continue declining slowly. Related Reading: Finance Expert Says Bitcoin 
Price Growth Is In ‘Google 2017’ Phase, What This Means Ending QT means that 
the Fed is stepping away from the rapid balance-sheet reduction that tightened 
financial conditions throughout 2023 and 2024. The move comes after bank 
reserves fell to levels that threatened short-term funding stability, and the 
Fed made the move to halt any further liquidity drain. Crypto investors are 
expecting the end of QT to relieve some of the selling pressure that has 
contributed to the crypto industry in recent months. This is due to historical 
comparisons of how the industry played out in previous ends to QT. In 2019, 
when the Fed last ended QT, digital assets bottomed within weeks and then 
entered a strong recovery phase. That period represented a decisive low for 
altcoins and preceded Bitcoin’s rise from roughly $3,800 to $29,000 over the 
next year and a half. Interestingly, the entire crypto market&#8217;s short-term 
behavior is starting to show signs of bullishness. Particularly, the entire 
market is up by 7.2% in the past 24 hours, with Bitcoin leading the charge. 
However, cryptocurrencies are facing a different macro environment today, and 
the outlook is whether Bitcoin and other cryptocurrencies can go on another 
extended bullish rally in the coming months. Why Is Bitcoin’s Reaction 
Delayed? Ending QT is a meaningful turning point, but it does not 
automatically flood the system with fresh liquidity. Benjamin Cowen, founder 
of IntoTheCryptoverse, offers one of the clearest explanations for what to 
expect. Related Reading: Financial Strategist Debunks Prediction That Bitcoin 
Price Will Reach $220,000 In 45 Days He noted that in 2019, the Fed announced 
QT would end on August 1, but the balance sheet continued falling through mid- 
August because previously scheduled Treasury maturities had not yet settled. 
It wasn’t until early 2020 that Bitcoin started to experience explosive gains. 
According to Cowen, the same dynamic applies now. Therefore, the Federal 
Reserve’s balance sheet could continue edging lower for a few more weeks, 
meaning the first meaningful uptick in liquidity may not show up until early 
2026. This delay suggests that traders hoping for an immediate boost or a 
quick return of Bitcoin above $100,000 are simply ahead of the cycle. The 
tightening phase has ended, but the actual recovery in liquidity has yet to 
begin. Featured image from Pngtree, chart from Tradingview.com

US Fed Has Ended Quantitative Tightening, But Why Is The Bitcoin Price Still Below $100,000?

The highly anticipated Fusaka Upgrade for Ethereum is on the verge of going 
live on Wednesday, heralding significant enhancements to the network&#8217;s overall 
functionality. Analysts contend that this pivotal development could usher in a 
considerable supply crunch for ETH, potentially boosting its price during a 
challenging period for the broader cryptocurrency market. Layer 2 Solutions To 
Boost ETH Burn According to analysts at Bull Theory, the Fusaka Upgrade 
integrates components from previous upgrades—Osaka, Fulu, and PeerDAS—but its 
most impactful feature is its resolution of one of Ethereum’s biggest 
challenges. Layers 2 (L2) solutions have long utilized Ethereum’s security 
while contributing minimal fees back to the network. Despite L2 solutions like 
Base, Arbitrum, Optimism, and zkSync generating millions in fees from users, 
the fees recorded on Ethereum tended to diminish to nearly zero when they 
posted their data. Consequently, this meant that significant L2 activity did 
not result in substantial ETH being burned, even though approximately 85% of 
Ethereum transactions now occur on these Layer 2 solutions. Related Reading: 
Bitcoin Slump Claims New Victims: Leveraged ETFs Tied To Strategy Suffer Major 
Losses The Fusaka Upgrade fundamentally changes this dynamic. A key 
enhancement is EIP-7918, which mandates that Layer 2 transactions pay real 
fees to Ethereum. This adjustment ensures that every L2 transaction will 
contribute directly to the burning of ETH—something that was not previously 
guaranteed. The analysts assert that this feature represents one of the most 
significant value shifts since the introduction of EIP-1559. Post-Fusaka 
Projections The upgrade is further expected to broaden the scope of ETH burn 
from being predominantly derived from Layer 1 (L1) transactions to 
encompassing all L2 activity. Historically, most ETH burn has originated from 
mainnet transactions; thus, the network saw slight inflation in 2024–2025 as 
Layer 2s made transactions cheaper, leading to a decrease in ETH burn while 
staking continued to issue new ETH. Post-Fusaka, every L2 blob will incur a 
minimum cost, which will be burned. As Layer 2 adoption increases, the rate at 
which ETH is burned will also rise, contributing to increased scarcity of ETH. 
This enhancement positions Ethereum to shift back towards deflation for the 
first time in several years. Currently, ETH issues around 620,000 new tokens 
annually for stakers while burning approximately 350,000 tokens. This results 
in a net slight inflation. However, projections following the Fusaka Upgrade, 
even with conservative estimates, suggest that the additional burn from L2 
activity could range from 200,000 to 400,000 ETH per year. Combined with 
existing burn rates, this could bring the total to over 600,000 ETH, leading 
to a net neutral or slightly deflationary state for ETH. More bullish models 
predict that if L2 adoption flourishes and demand for blobs rises, burn rates 
could soar to between 900,000 and 1.2 million ETH annually, resulting in a 
supply decrease of 200,000 to 300,000 ETH each year. Monetary Transformation 
For Ethereum? Another notable aspect of the Fusaka upgrade is PeerDAS, which 
enhances Layer 2 growth by reducing bandwidth requirements by 85%. This 
efficiency allows L2 solutions to publish more blobs at lower costs, resulting 
in increased fees and, consequently, more ETH burned. Related Reading: Analyst 
Says This Needs To Happen For The XRP Price To Rally Again The upgrade also 
increases the block gas limit from 36 million to 60 million, allowing more 
transactions to fit within each block. This increase means that more 
transactions can occur, leading to higher fees collected and a corresponding 
rise in burning. Furthermore, lower fees for transactions—such as swaps, 
bridges, on-chain gaming, and social applications—will likely drive more 
usage, resulting in increased transactions and higher ETH burn. Ultimately, 
the analysts believe that the Fusaka Upgrade represents a significant monetary 
transformation for Ethereum, indicating that the network is not only scaling 
but also beginning to monetize that scaling effectively. Featured image from 
DALL-E, chart from TradingView.com

Cryptocurrency price in IDR