# 5 December - BlackRock’s Pivot, Cloudflare Outage, and Institutional Accumulation

*S&P is making new ATH's  while BTC surpassing 90.000 third time in this week. Very heavy on the volume but let's see if it will pay out or not. Anyways, today's news...*

By [The Crypto Drift](https://paragraph.com/@thecryptodrift) · 2025-12-05

#btc, #etf, #vaneck, #cloudfare, #shurdown, #blackrock, #hyperliquid

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*   The day opened with a **major Cloudflare outage**, knocking several DeFi apps and centralized exchanges offline. While markets didn’t react negatively, the incident exposed how deeply crypto infrastructure still depends on centralized service providers.
    
*   Institutions continued to accumulate, with **$20M flowing into BTC ETFs**.  
    **Vanguard**, with over _50 million clients_, now fully supports Bitcoin and Ethereum ETF trading. Meanwhile, **Schwab** confirmed plans to open BTC/ETH trading by 2026, signaling that mainstream finance is preparing for the next adoption wave.
    
*   On **Hyperliquid**, whales are running **$30M+ positions with high leverage (6–18x)**, creating systemic liquidity risks. A sharp unwind could trigger a cascade affecting not just Hyperliquid, but potentially other perp DEXs as well.
    
*   The **neobank-style crypto card sector** is heating up.  
    **MetaMask Card** saw a drop in transaction volumes, while **Rain** surged **22%**, reaching **$240M in monthly processed volume**. Regulatory clarity seems to be giving compliant payment solutions a clear advantage.
    
*   **MicroStrategy**, now holding roughly **600,000 BTC**, is shifting to a more defensive posture. After previously buying up to _135,000 BTC per month_, the firm has scaled back to **9,000 BTC**, while building a **$1.5B stablecoin reserve** to strengthen resilience against potential market shocks.
    
*   **Kalshi** raised **$1B**, pushing its valuation to **$11B**, cementing prediction markets as a growing sector. However, Connecticut’s cease-and-desist order shows the U.S. regulatory landscape for prediction markets remains unpredictable and can shift abruptly.
    
*   Across the market, **liquidity risks**, **trend rotations**, and **institutional “bullish admissions”** are shaping sentiment. Despite volatility, capital continues rotating into real infrastructure, regulated products, and long-term accumulation strategies.
    

We're enttering the weekend. It's been a volatile week, let's see weather we will or not experience the "Santa Ralli" of market. Thank you for reading. See you next time...

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*Originally published on [The Crypto Drift](https://paragraph.com/@thecryptodrift/5december)*