Dogecoin whale trades hit 60-day low despite price support test

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.

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.

Solana's price is currently testing key support levels, showing bullish RSI divergence and steady ETF inflows, indicating potential buyer interest. Analysts note that while the price has stabilized around $143 after a multi-week decline, a breakout above resistance is necessary for a sustained reversal.

Bitcoin's price has dropped to approximately $85,000, marking a 7% decline attributed to rising yields on Japanese government bonds, which have triggered a significant unwinding of the Yen Carry Trade, according to market expert Shanaka Anslem. This follows a brief recovery to around $93,000 last week, highlighting the volatility in the cryptocurrency market.

Ethereum's price has fallen below the critical support level of $2,900, currently trading at approximately $2,803, reflecting a 0.9% decrease over the past day amid increasing sell pressure from large investors, known as whales. This decline follows a broader market downturn, with Ethereum experiencing a significant 26% drop in November.

The launch of Grayscale's spot Dogecoin ETF on November 24, 2025, was met with disappointing trading volumes, reaching approximately $1.4 million on its first day, significantly lower than analysts' expectations. This muted response reflects a lack of enthusiasm in the market despite the anticipation surrounding the first-ever Dogecoin ETF.