{"id":15581,"date":"2025-12-01T04:34:00","date_gmt":"2025-12-01T04:34:00","guid":{"rendered":"https:\/\/www.btse.com\/blog\/?p=15581"},"modified":"2025-12-01T04:43:41","modified_gmt":"2025-12-01T04:43:41","slug":"the-week-ahead-bitcoin-drops-on-yearn-finance-hack","status":"publish","type":"post","link":"https:\/\/www.btse.com\/blog\/the-week-ahead-bitcoin-drops-on-yearn-finance-hack\/","title":{"rendered":"The Week Ahead: \u200b\u200bBitcoin Drops on Yearn Finance Hack; Trump Pick for Fed Chairman Ready"},"content":{"rendered":"

Crypto traders were in for a big surprise Monday morning Asia time when Bitcoin dropped by <\/span><\/span>over 3%<\/span><\/a><\/span> to the $86k mark following a hack on DeFi aggregator Yearn Finance. Ethereum also fell 5% to <\/span><\/span>$2,831<\/span><\/a><\/span> earlier this morning.\u00a0<\/span><\/span><\/p>\n

Despite last week\u2019s recovery following a brutal November, CoinMarketCap\u2019s<\/span><\/span> Crypto Fear and Greed Index <\/span><\/a><\/span>still stands at 20, indicating continued apprehension from traders as they head into the last few weeks of the year.\u00a0<\/span><\/span><\/p>\n

\"\"<\/p>\n

Yearn Finance (YFI)<\/span><\/a><\/span> is a relatively large DeFi aggregator that lets users stake, earn, and borrow funds on DeFi protocols such as Aave, Compound, and Curve; users have locked over<\/span><\/span> US$415 million in assets<\/span><\/a><\/span> on the platform.\u00a0<\/span><\/span><\/p>\n

While media reported that the hacker only made off with a few million dollars in assets, the FUD could spark a massive cycle of unstaking, withdrawals, and selling that could spread throughout the DeFi ecosystem. It also raises questions as to how safe DeFi aggregators such as Yearn Finance really are.<\/span><\/p>\n

 <\/p>\n

What Traders Should Watch Out for this Week<\/b><\/span><\/h2>\n

This week, we expect volatility leading up to the big<\/span><\/span> Fed meeting<\/span><\/a><\/span> on December 9-10.\u00a0<\/span><\/span><\/p>\n

A number of economic datasets will be released, which will shape Fed policy decisions on the 9th. The S&P final <\/span>manufacturing PMI and ADP employment data will be released on December 1, the S&P final services PMI on December 3, and year-over-year PCE data will be out on December 5.<\/span><\/span><\/p>\n

The odds of a third rate cut have changed multiple times over the past few weeks after the Fed lowered its benchmark rate to a<\/span><\/span> target range of 3.75%\u20134.00%<\/span><\/a><\/span> in October; another cut could spike market prices again. Critics who are wary of further cuts point to continued risks of inflation and the rising cost of living in the US.\u00a0<\/span><\/span><\/p>\n

The Federal Reserve is also due to stop the <\/span><\/span>reduction of its aggregate securities holdings <\/span><\/a><\/span>on December 1 U.S. time<\/span>, meaning that the Fed could start moving towards quantitative easing, another way to expand the money supply and stimulate the economy.\u00a0<\/span><\/span><\/span><\/p>\n

Regardless of what happens on December 9, traders are optimistic about rate cuts as Trump mentioned to the media over the weekend that he has <\/span><\/span>already decided<\/span><\/a><\/span> on a new Fed chairman. Trump\u2019s contempt for the current Fed chairman for not cutting rates sooner is well-known, and it\u2019s likely that his choice will continue to cut rates, pushing markets even higher.\u00a0<\/span><\/span><\/p>\n

Halfway around the world, <\/span><\/span>China\u2019s PMI<\/span><\/a><\/span> for November was announced at <\/span><\/span>49.2<\/span><\/a><\/span>, marking an eighth straight month of declining factory activity. Traders and economists have been bearish on China\u2019s economy for some time already; the pervasive pessimism has driven Chinese investors to <\/span><\/span>buy gold en masse<\/span><\/a><\/span>. Many believe that Chinese buying of Bitcoin could also accelerate as the economy continues its downturn.\u00a0<\/span><\/span><\/p>\n

All of the above factors have the potential to impact markets as we head into the last few weeks of the year.\u00a0<\/span><\/p>\n

Keep an<\/span> eye out for what happens next\u2014big shifts could be ahead.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Crypto traders were in for a big surprise Monday morning Asia time when Bitcoin dropped by over 3% to the $86k mark following a hack on DeFi aggregator Yearn Finance. Ethereum also fell 5% to $2,831 earlier this morning.\u00a0 Despite last week\u2019s recovery following a brutal November, CoinMarketCap\u2019s Crypto Fear and Greed Index still stands […]<\/p>\n","protected":false},"author":1,"featured_media":15582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[11],"tags":[400,398,397,399],"class_list":["post-15581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-insights","tag-fed-cut-rate","tag-market-insights","tag-weekend-analysis","tag-yearn-finance-hack"],"yoast_head":"\nThe Week Ahead: \u200b\u200bBitcoin Drops on Yearn Finance Hack; Trump Pick for Fed Chairman Ready — BTSE Blog<\/title>\n<meta name=\"description\" content=\"Learn how the Yearn Finance hack affected crypto prices and what it means for traders in this volatile market.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.btse.com\/blog\/the-week-ahead-bitcoin-drops-on-yearn-finance-hack\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Week Ahead: \u200b\u200bBitcoin Drops on Yearn Finance Hack; 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