Ethereum price breaks below $2.9K key support: will Fusaka upgrade fuel a recovery?

A Bitcoin miner recently won a prize of $235,000 in Bitcoin while participating in HMining, highlighting the platform's growing influence in the cloud mining sector. This achievement has drawn attention to HMining's operations and its role in the evolving cryptocurrency landscape.

The cryptocurrency market experienced a notable rebound on December 2, with Bitcoin and leading altcoins rising over 1% in the past 24 hours, pushing the total market capitalization close to $3 trillion. This recovery follows a period of volatility and significant price fluctuations in recent weeks.

Hyperliquid's price is under increasing pressure as bullish trading volume diminishes, causing concerns about its ability to maintain the $29 support level. Analysts warn that this trend raises the risk of a significant price correction towards $19, reflecting a broader bearish sentiment in the cryptocurrency market.

Ethereum's upcoming Fusaka upgrade is set to enhance the network's scalability and efficiency, moving away from traditional hard forks to more strategic, targeted changes. This upgrade is scheduled for implementation on December 3, 2025, and is expected to significantly improve the blockchain's capacity to handle increased transaction throughput from layer-2 solutions.

An Ethereum ICO participant has sold 23,000 ETH within a week, a move that may indicate shifting market confidence and could influence Ethereum's price stability and investor sentiment. This significant sale follows a period of heightened trading activity in the cryptocurrency market.

Strategy has reduced its 2025 Bitcoin yield targets and built a $1.44 billion cash reserve, highlighting the volatility associated with corporate Bitcoin exposure. This pivot reflects a strategic shift towards direct investments in the Bitcoin ecosystem, particularly in Layer-2 infrastructure like Bitcoin Hyper, which offers enhanced transaction capabilities.

Zcash's price has experienced a significant decline of 24%, breaking through multiple support levels and its EMA200, prompting analysts to caution about potential further losses. Despite this downturn, the long-term outlook for Zcash remains intact, particularly regarding its privacy features.

BitMine Immersion Technologies has added over 7,000 ether to its holdings, totaling approximately 3% of Ethereum's total supply, as part of a strategic move to capitalize on a potential market rebound. This acquisition, valued at around $19.8 million, reflects the company's ongoing commitment to expanding its cryptocurrency portfolio amidst fluctuating market conditions.