Bitcoin recovered after four consecutive weeks in the red, surpassing the key 
$89,600 flow-weighted cost basis of Bitcoin ETF holders, the most significant 
cohort driving BTC inflows.

Cathie Wood still bullish on $1.5M Bitcoin price target: Finance Redefined

A pseudonymous analyst has set off a new narrative around Ethereum’s upcoming 
Fusaka upgrade, arguing it could be the most favorable event ever for ETH as 
an asset by finally turning Layer-2 networks into meaningful ETH burners. On 
X, crypto pundit Kira Sama framed Fusaka, scheduled for December 3, as a 
structural shift in Ethereum’s fee economics. The core of the thesis is a 
single change: EIP-7918. “Price wise, Ethereum Fusaka upgrade on december 3rd, 
will be the most bullish upgrade for eth the asset ever, why? One reason. ‘EIP 
7918’,” Kira wrote, calling it “the next big catalyst for eth burn.” Ethereum 
L2 Will Burn ETH Kira’s argument rests on how Ethereum currently treats L2s. 
Since the rollup-centric roadmap took shape, Ethereum’s base layer has 
effectively subsidized L2 data availability. In his words, “for a long time, 
ETH L1 charged zero base fees to L2s, while L2 deployers made millions of 
profits. So L2s haven’t burnt any meaningful eth.” That subsidized regime has 
fueled explosive L2 growth but also limited how much L2 usage translates into 
ETH burn. Related Reading: Ethereum Is 58% ‘Undervalued’ Based On Intrinsic 
Metrics, Says Hashed CEO EIP-7918 is designed to change that by tying L2 data 
costs more tightly to mainnet gas prices. Kira summarizes it as follows: “L2 
fees will be bounded by the execution cost which will help us reach L2 fees 
price discovery faster. It also helps maintain the fees during spikes so that 
L2 users won&#8217;t be rugged from absurd tx fees. Win-win.” In practice, that 
means rollups will face a non-trivial, protocol-enforced minimum on what they 
pay Ethereum for posting their batches. Crucially for ETH holders, those fees 
are paid in ETH and a portion is burned under the EIP-1559 mechanism. Kira 
argues that as L2 throughput scales, this will become a dominant driver of 
ETH’s burn dynamics: “They will just pay their fair share to Ethereum L1 and 
burn meaningful eth. It will be slow and steady at the beginning. This will 
eventually result in burning millions of dollars of eth long term and L2s will 
be main driving force of making eth deflationary.” Related Reading: Ethereum 
Price To Recover Or Crash? The Real ‘Leverage Point’ Investors Should Know 
About The narrative becomes more aggressive when Kira extrapolates to 
corporate and institutional rollups. He lists a series of existing and 
anticipated L2s and claims that “Coinbase&#8217;s base will burn eth, Robinhood&#8217;s L2 
will burn eth, OpenAI&#8217;s Worlchain will burn eth, Sony&#8217;s Soneium will burn eth, 
Alibaba&#8217;s Jovay will burn eth, UAE&#8217;s ADI chain burn eth, Kraken&#8217;s Ink will 
burn eth, Lighter will burn eth, Deutsche Bank&#8217;s Memento chain will burn eth, 
Arbitrum will burn eth etc etc etc. Corporations will start burning eth.” From 
that, he extends the thesis to a broader, highly bullish vision: “Every 
company in the world will launch their own layer 2. Every alt-L1 will become 
L2 and start burning eth. Eth inflation will shrink.” While those universal 
claims go far beyond what the upgrade itself guarantees, they capture the 
heart of the bullish narrative: if enough economic activity migrates onto 
Ethereum-secured L2s that must pay non-negligible base fees, Ethereum becomes 
the settlement and value-capture layer beneath corporate and institutional 
chains. Kira explicitly compares Fusaka to the London hard fork that 
introduced EIP-1559 in 2021. “When Ethereum introduced burn through eip-1559 
in 2021, it lifted the whole market up,” he wrote. “Everyone will be caught 
off guard this time as well. L2s burning eth incoming. Bullish eth. Bullish 
L2s.” For now, Kira is clear about his own conclusion: “December 3rd, tik-tok. 
The ticker is ETH.” At press time, ETH traded at $3,022. Featured image 
created with DALL.E, chart from TradingView.com

Ethereum Fusaka Will Be ‘The Most Bullish Upgrade’ Ever, Pundit Claims

Bitcoin dominance drops to the 23.6 Fibonacci level and 59% overall, signaling 
early altcoin rotation as market leadership shifts.
The post Bitcoin dominance dips to 23.6 fib level, signals potential altcoin 
rotation appeared first on Crypto Briefing.

Bitcoin dominance dips to 23.6 fib level, signals potential altcoin rotation

The Coinbase Bitcoin Premium has turned positive, signaling renewed US 
institutional demand as buyers pay above global prices for Bitcoin.
The post Coinbase Bitcoin premium turns green as US institutions buy again 
appeared first on Crypto Briefing.

Coinbase Bitcoin premium turns green as US institutions buy again

South Korea announced plans to expand the travel rule to cover smaller crypto 
transactions and bar individuals with serious criminal records from becoming 
major shareholders in virtual asset businesses. Expanding the ‘Travel Rule’ 
and Strengthening Scrutiny The South Korean government is preparing a major 
crackdown on illicit activities within the virtual asset market. Financial 
Services […]

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