If you are reading this digest, then today is Friday. Well, or it’s already Saturday, depending on when you decide to immerse yourself in the news of the coming week.
Everything is cyclical in the economy, and the crypto market is no exception. In recent months, we have seen the growth of Bitcoin, which has broken all previous records, but this week, we saw the flip side of the coin.
We’ll cover these and more news in our digest today, so stay tuned to Evercode Lab! But first – visit our website and see all the services we can provide to your business needs!
Bitcoin Drops to a Six-Month Low
So let’s talk about the dramatic changes in BTC. This week, Bitcoin price experienced a sharp decline, falling to its lowest level in six months. According to CoinGlass, on November 16-17, the volume of liquidations on the crypto market reached $619 million. Of these, $243 million was accounted for by Bitcoin.
According to market analysts, the drop was triggered by a combination of macroeconomic pressure, increased liquidation volumes, and a spike in fear-driven trading behavior.
This sudden drop intensified market anxiety, reflected in the Fear & Greed Index sliding deep into the “fear” zone. As liquidity thinned, cascading liquidations contributed to the downward spiral.
However, despite the correction, analysts emphasize that such retracements are natural within long-term bull cycles. Historically, similar pullbacks have occurred before major market recoveries.
Market Fear Intensifies as Bitcoin Dips Below $85,000
In continuation of the first news. As Bitcoin fell to $85,000, traders across crypto markets responded with high levels of caution. This price point marked the lowest level since April, triggering a wave of stop-loss activations and raising concerns about deeper corrections.
Experts, however, advise investors not to panic. Many consider the drop temporary, driven largely by external market pressure rather than fundamental weaknesses in the Bitcoin network.
Vitalik Buterin Introduces New Ethereum Privacy Tool
Let’s take a look at another big token. Ethereum co-founder Vitalik Buterin unveiled a new privacy-focused tool, Kohaku, designed to improve confidentiality across the Ethereum network significantly.
Kohaku is an open source project that creates a modular stack for developing secure wallets with enhanced privacy.
This innovation uses advanced cryptographic techniques to help users conceal transaction metadata while maintaining network transparency and compliance.
Overall, the tool aims to solve long-standing challenges in on-chain privacy, providing a more secure and user-friendly alternative to traditional mixers.
Also, Buterin highlighted that Ethereum must evolve toward selective privacy, where sensitive data is protected without compromising auditability.
Ethereum Foundation Proposes Solution to Unify All Layer-2 Networks
Even more news about ETH. The Ethereum Foundation announced a major interoperability initiative focused on unifying Layer-2 networks. It received the name “Interop Layer” (EIL).
The goal of EIL is to make the wallet a single point of access to the ecosystem of the second largest cryptocurrency with automatic support for new compatible networks.
The proposed solution aims to create a standard framework that simplifies cross-rollup communication, enabling seamless transfers of assets and data between L2 chains.
This upgrade addresses one of the biggest scalability bottlenecks in Ethereum today. With dozens of L2 rollups offering fast and cheap transactions, fragmentation has become a challenge.
Cloudflare Outage Exposes Vulnerabilities in Web3 Infrastructure
We turn to the latest news, which has literally stopped the operation of a large number of platforms around the world.
A large-scale Cloudflare failure disrupted multiple crypto services, exchanges, and Web3 applications, revealing a critical dependency on centralized infrastructure. According to experts, the outage showcased the “fragility” of the current Web3 stack.
To be more specific, the failure of Cloudflare on November 18 affected the work of a number of crypto projects, including Blockchain.com, Coinbase, Ledger, BitMEX, Toncoin, Arbiscan and DefiLlama. At least 20% of all Internet traffic was affected.
Despite being marketed as decentralized, many blockchain services rely heavily on centralized providers like Cloudflare for DNS routing, APIs, and security services.
The outage reignited conversations about decentralization, urging companies to reduce reliance on centralized infrastructure and implement multi-provider redundancy.
Final Thought
That’s how our idea went in the world of crypto and blockchain. Will the price of Bitcoin rise soon? What will the Cloudflare crash teach us? Will the Ethereum innovation set a new trend for L2 networks? Well, we will know next week!
Stay tuned for more updates in next week’s crypto digest. If you want to track real-time crypto market activity across multiple chains, explore our white label asset management app to monitor assets, portfolios, and market performance effortlessly.