Ether (ETH) rallied 5.5% in the early hours of Nov. 29, reclaiming the critical $1,200 support. However, when analyzing a broader time frame, the 24% negative performance in the past 30 days significantly impacts investors' sentiment. Moreover, investors’ mood worsened after BlockFi filed for bankruptcy on Nov. 28.

Newsflow remained negative after the United States Treasury Department's Office of Foreign Assets Control (OFAC) announced a settlement with Kraken exchange for "apparent violations of sanctions against Iran." In a Nov. 28 announcement, the OFAC said Kraken had agreed to pay more than $362,000 as part of a deal "to settle its potential civil liability."

Moreover, on Nov. 28, institutional crypto financial services provider Silvergate Capital denied rumors of significant exposure to BlockFi's bankruptcy. Silvergate added that its losses are lower than $20 million in digital assets and reiterated that BlockFi was not a custodian for its crypto-collateralized loans.

(by Marcel Pechman)