Crypto Market News Today, December 3: Holy Moly!! Crypto is Back as BTC USD Blasts $93K, ETH Back Above $3K with Fusaka Upgrade Looming

Ethereum's treasury demand has collapsed, creating significant overhead resistance between $3,100 and $3,200, which hinders Ether's recovery towards the $4,000 mark. This decline follows a broader trend of decreasing investor sentiment and market instability.

A wallet linked to BitMine has withdrawn 30,278 ETH from Kraken in anticipation of the upcoming Fusaka upgrade, reflecting a strategic move to optimize its cryptocurrency holdings. This withdrawal aligns with BitMine's recent activities, including significant acquisitions of Ethereum, which have bolstered its treasury position.

American Bitcoin Corp, a mining firm co-founded by Eric Trump, experienced a dramatic 40% drop in its stock price, falling to $1.80 on December 2, 2025, due to the expiration of a lockup period on pre-merger private placement shares. This significant decline highlights the volatility inherent in cryptocurrency investments.

Ethereum's price surged by 9% in anticipation of the upcoming Fusaka upgrade, which is expected to significantly enhance the network's scalability and efficiency. This upgrade is set to be implemented on December 3, 2025, following a challenging period for Ethereum, where its price had seen substantial declines.

Ethereum's price has surpassed the $3,000 mark following the Fusaka upgrade, which enhances the network's throughput and blob capacity through the introduction of PeerDAS. This upgrade is seen as a significant step in improving Ethereum's efficiency and scalability.

The Federal Reserve has officially ended its quantitative tightening (QT) program as of December 1, 2025, ceasing the reduction of its balance sheet and opting to reinvest maturing Treasuries and mortgage-bond payouts into Treasury bills. This decision follows a period of market pressure and a significant sell-off in the cryptocurrency sector over the weekend.

Ethereum's Fusaka upgrade is set to launch on December 3, 2025, introducing significant enhancements in scaling, security, and user experience, which are expected to improve the overall efficiency of the network.

Bitcoin long-term holders have seen their supply increase for the first time since April, indicating a potential shift in market sentiment. This uptick in the 6-month inactive supply suggests that investors are holding onto their assets rather than selling, which is often seen as a bullish sign in the cryptocurrency market.