Bitcoin bounces back more than 10% after brutal week

On December 3, Iren, a company transitioning from Bitcoin mining to AI data services, announced the pricing of $3.6 billion in equity and convertible note offerings, including a $2 billion private convertible notes offering. This move marks a significant step in its evolution as an AI infrastructure provider amid a growing demand for data-center capabilities.

Bitcoin has experienced a significant decline, dropping over 30% recently, while Ether has fallen around 40%. This downturn follows the evaporation of gains attributed to President Trump's pro-crypto policies, marking a stark contrast to earlier predictions of soaring prices.

Bitcoin has rebounded above $90,000 after a significant selloff, providing a momentary relief to investors who had witnessed a decline in the cryptocurrency market. This recovery comes after Bitcoin had previously lost nearly $1 billion in leveraged bets, raising concerns about market volatility.

Vanguard has announced its intention to offer 401(k) plans that include regular payouts, a move aimed at enhancing retirement savings options for individuals. This initiative emphasizes the importance of considering annuity fees and features, particularly regarding the timing of payment commencement.

The Dow Jones Industrial Average advanced by 400 points, while Bitcoin also saw a rise, indicating a positive shift in the stock market despite recent volatility. This movement follows the release of ADP data, which reported a significant job loss in the private sector, shedding 32,000 jobs in November.

On December 2, the stock market showed positive momentum with Bitcoin rebounding, leading to a 0.3% rise in the S&P 500, while the Nasdaq Composite and Dow Jones also posted gains of 0.6% and 0.4%, respectively. This recovery followed a bearish start to the month, highlighting a shift in investor sentiment.

Harvard University reported nearly half a billion dollars in cryptocurrency holdings just before a significant downturn in the market, particularly affecting Bitcoin, which has seen a loss of approximately 25% in November 2025. This downturn marks the worst monthly performance for Bitcoin since the 2022 collapse, raising concerns about the stability of crypto investments.

Vanguard, a brokerage firm previously resistant to cryptocurrency, has announced the listing of Bitcoin and other blockchain-wrapped exchange-traded funds (ETFs), allowing traders to buy and sell these assets. This marks a significant shift in Vanguard's stance towards digital currencies, reflecting a growing acceptance of crypto in traditional finance.