Edgen Crypto·Nov 29 2025, 07:16
[1] Arthur Hayes Warns 99% of Cryptocurrencies May Fail | Phemex News (https://phemex.com/news/article/arthur-hayes- ...)[2] Monad sinks as Arthur Hayes signals loss of confidence (https://www.cryptopolitan.com/monad-sinks-art ...)[3] Arthur Hayes turns bearish on Monad as losses enter double digits ... (https://www.facebook.com/cryptopolitan/posts/ ...)
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Nov 29 2025, 11:35
Ethereum Navigates Critical Price Zone After Trendline Breach
## Executive Summary **Ethereum (ETH)** is currently navigating a period of heightened technical uncertainty after breaching a key ascending trendline. The asset has fallen below the critical $3,200 support level and the 100-hourly simple moving average, signaling a bearish short-term outlook. However, this movement is contrasted by ETH's position above a decade-long support trendline, creating a complex picture for traders and investors. The market is now focused on whether major support levels around $3,000 will hold or if a deeper correction is imminent. ## The Event in Detail Recent price action saw **Ethereum** fail to sustain momentum above the $3,550 resistance level, leading to a more than 5% slide. This decline pushed the price down to $3,153, breaking through several support structures in the process. A key technical event in this downturn was the break below a widely watched ascending trendline, which had previously supported the price. Currently, **ETH** is trading below the $3,200 mark, a psychological and technical level that is now acting as resistance. The asset also remains under its 100-hourly moving average, a further indicator of bearish control in the short term. ## Market Implications The breach of the ascending trendline has shifted the market bias to bearish in the immediate term. A sustained break below the $3,150 support area could trigger further selling pressure, exposing downside targets at $3,050 and the significant psychological level of $3,000. Should that level fail, market analysis points to a potential retest of the $2,880–$2,850 support zone, with some projections indicating a possible slide toward $2,650. Conversely, for a bullish reversal to gain credibility, buyers would need to reclaim the $3,350–$3,500 resistance zone. Until then, the path of least resistance appears to be to the downside or continued consolidation. ## Expert Commentary Market analysis is currently divided, reflecting the conflicting technical signals. One perspective emphasizes the bearish breakdown, citing the failure to hold above $3,500 and the subsequent break of multiple support levels as evidence that a deeper correction is underway. This view aligns with the initial analysis of a trendline break signaling a potential move toward $2,650. However, another school of thought is focused on the bigger picture. Analysts note that **ETH** is testing a pivotal, decade-long support trendline that has been a factor since 2016. Holding this long-term support could indicate a significant market bottom is forming, despite the short-term volatility. There are also indications that **ETH** broke through a separate *bearish* trend line after holding support near $2,750, suggesting a potential recovery targeting the $3,000 level. ## Broader Context This period of volatility occurs within a broader multi-month downtrend for **Ethereum**. The current price action represents a critical test of this long-term bearish structure against a historical, decade-long support line. The outcome of this technical battle could set the directional tone for **ETH** for the medium term. While the immediate pressure is bearish, the resilience of the long-term support provides a counter-narrative that suggests the potential for a significant market reversal. The resolution of these conflicting patterns is paramount for determining the next major price cycle for the second-largest cryptocurrency.
Nov 29 2025, 10:01
Pando Ethereum Spot ETF to Debut on Hong Kong Exchange, Expanding Digital Asset Offerings
## Executive Summary Pando Financial is scheduled to launch a spot Ethereum exchange-traded fund (ETF) on the Hong Kong Stock Exchange (HKEX) on December 3. The new financial product will trade under the ticker **3085** and is designed to provide investors with direct exposure to Ethereum by physically holding the asset. The ETF's value will be benchmarked against the CME CF Ether-Dollar Reference Rate for the Asia Pacific region. This launch represents a further expansion of Hong Kong's regulated digital asset offerings, joining a group of similar crypto-backed financial products introduced earlier in the year. ## The Event in Detail The Pando Ethereum ETF is a passively managed fund with an investment objective to provide results that closely correspond to the performance of Ethereum. As a spot ETF, the fund will directly acquire and hold **Ethereum (ETH)** as its core underlying asset. This structure allows investors to gain exposure to the cryptocurrency's price movements without the complexities of managing digital wallets and private keys. The fund's benchmark, the **CME CF Ether-Dollar Reference Rate - Asia Pacific Variant**, is a regulated and standardized index, ensuring that the ETF's net asset value is priced according to a consistent and transparent industry metric. The listing on the HKEX will make the ETF accessible to a broad range of investors through their existing securities accounts, significantly lowering the barrier to entry for participating in the digital asset market. ## Market Implications The introduction of the Pando Ethereum ETF is expected to enhance market liquidity and accessibility for Ethereum in the region. By offering a regulated investment vehicle, it caters to both institutional and retail investors seeking compliant exposure to digital assets. The increased competition among ETF providers, including established players like **China Asset Management** and **Harvest Global**, is likely to drive innovation and potentially lead to more competitive management fees over time. While the immediate price impact on ETH will be contingent on initial capital inflows, the creation of another regulated access point is a structurally bullish factor for long-term demand. ## Broader Context and Precedent Pando's ETF is the latest entrant into a developing market for cryptocurrency-based investment products in Hong Kong. In April, the city saw the debut of six spot bitcoin and ether ETFs from managers including **China Asset Management**, **Harvest Global**, **Bosera**, and **HashKey**, marking a significant milestone for the region. The use of the CME CF reference rate as a benchmark is consistent across these products, including the **CHINAAMC ETHER ETF (3046)** and **HARVEST ETHER SPOT ETF (3179)**, pointing to the establishment of an industry standard. This continued expansion of crypto ETFs underscores Hong Kong's strategic effort to position itself as a premier, regulated hub for digital assets in Asia. It also hints at future market evolution, with some participants reportedly planning to launch staked spot Ethereum ETFs in the future, which would offer yield on top of price exposure.
Nov 29 2025, 06:17
TF Securities Faces CSRC Probe as Hong Kong Unit Wins Crypto Trading License
## The Event in Detail The China Securities Regulatory Commission (CSRC) has initiated a formal investigation into **TF Securities** for alleged violations related to information disclosure and the illicit provision of financing. This regulatory action on the mainland places the parent company under significant legal and financial scrutiny. In stark contrast, the company's wholly-owned subsidiary, **TF International Securities and Futures Limited**, has successfully obtained a Type 3 license for virtual assets from the Hong Kong Securities and Futures Commission (SFC). This license authorizes the subsidiary to conduct and offer virtual asset trading services, marking a significant step into the regulated digital asset ecosystem in Hong Kong. ## Market Implications The CSRC investigation introduces substantial uncertainty for **TF Securities**. Such probes can result in severe financial penalties, operational disruptions, and a negative impact on the company’s valuation and access to capital. The charge of illegally providing financing is particularly serious, suggesting potential credit and liquidity risks that could concern investors. Conversely, the acquisition of a virtual asset license in Hong Kong is a strategic success. It allows **TF Securities** to tap into new revenue streams by catering to the growing demand for regulated digital asset services. This move aligns with Hong Kong's broader strategy to establish itself as a global hub for the Web3 industry, potentially offering a significant long-term growth avenue for the firm, firewalled from its mainland regulatory issues. ## Expert Commentary This situation exemplifies the increasingly complex and divergent regulatory landscape facing Chinese financial institutions. While mainland China continues a strict enforcement and anti-corruption campaign, Hong Kong is deliberately creating a regulated, pro-business environment for virtual assets. The strategic decision by **TF Securities** to pursue digital asset operations through a Hong Kong subsidiary appears to be a calculated move to isolate risk. This "dual-track" strategy—navigating stringent regulations at home while pursuing growth in more permissive jurisdictions like Hong Kong—may become a standard operating procedure for other Chinese firms aiming to engage with the global digital economy. ## Broader Context The developments at **TF Securities** are a microcosm of the "one country, two systems" principle playing out in the financial sector. Mainland China’s focus remains on market stability and regulatory control, underscored by ongoing investigations and a general aversion to cryptocurrency. Meanwhile, Hong Kong is leveraging its autonomy to build a comprehensive regulatory framework for digital assets, positioning itself as a key bridge between mainland capital and global crypto markets. The licensing of firms like **TF International** is a critical component of this strategy, intended to attract institutional investment and legitimize the virtual asset class within a regulated perimeter.