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Crypto Market Update: Bitcoin Price Logs Weakest Month Since 2022

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Here’s a quick recap of the crypto landscape for Friday (November 21) as of 9:00 a.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$83,590.70, down by 10.4 percent over 24 hours. Its lowest price of the day was US$81,868.75 and its highest was US$91,971.75.

Bitcoin price performance, November 21, 2025.

Bitcoin price performance, November 21, 2025.

Chart via TradingView.

Bitcoin’s slide continues as it heads for its worst month since the 2022 crypto crash.

The largest cryptocurrency fell and touched US$81,000 on Friday before recovering to around US$84,166, extending a monthly decline of about 23 percent that marks its heaviest drop since June 2022.

Despite pro-crypto messaging from the Trump administration and a year of strong institutional adoption, Bitcoin has now fallen more than 30 percent from its early-October record high.

The downturn accelerated following the massive October 10 liquidation event that erased US$19 billion in leveraged positions and wiped roughly US$1.5 trillion from the combined value of all cryptocurrencies.

Institutional flows reflect the same caution. US-listed Bitcoin ETFs have recorded a record US$3.79 billion in outflows this month, surpassing February’s previous high, with BlackRock’s IBIT alone seeing more than US$2 billion in redemptions.

In total, about US$1.2 trillion has been wiped from crypto markets over the past six weeks, according to CoinGecko data.

Ether (ETH) was at US$2,736.63, down 11.2 percent over 24 hours. Its lowest price on Friday was US$2,675.70 and its highest was US$3,033.20.

Altcoin price update

  • XRP (XRP) was priced at US$1.94, down by 12.2 percent over 24 hours. Its lowest price of the period was US$1.86 and its highest was US$2.13.
  • Solana (SOL) was trading at US$128, down by 13 percent over 24 hours. Its lowest price of the day was US$123.30 and its highest was US$141.97.

Fear and Greed Index snapshot

As of Friday, CMC’s Crypto Fear & Greed Index has plunged to 11, firmly in “extreme fear” and its lowest level since late 2022.

Reports of large-scale whale liquidations have added to the uncertainty, amplifying pressure across an already fragile market. Further, traders brace for potential Federal Reserve inaction on rate cuts. CME’s FedWatch now shows only 37.6 percent expecting a 25-basis-point cut in December, while more than 62 percent anticipate no change, a reversal from near-even odds just a week ago.

Prediction market Polymarket reflects the same trend, pricing a 63 percent chance of no move after sentiment flipped late Tuesday.

CMC Crypto Fear and Greed Index, Bitcoin price and Bitcoin volume.

CMC Crypto Fear and Greed Index, Bitcoin price and Bitcoin volume.

Chart via CoinMarketCap.

Today’s crypto news to know

Bitcoin logs weakest month since 2022

Bitcoin is heading for its steepest monthly decline since the wave of corporate failures that hit the crypto sector in 2022, with the token sliding below US$82,000 on Friday.

Its November losses have now reached roughly 25 percent, reversing much of the momentum that carried prices to record highs in early October.

Overall, data from CoinGecko shows the total crypto market value dipping back under US$3 trillion as Ether and mid-cap tokens recorded similar double-digit declines.

Analysts link the downturn to cascading liquidations that began on October 10, when nearly US$19 billion in leveraged bets were wiped out in a single session. Selling pressure intensified again this week with a two-day liquidation tally topping US$2 billion, according to CoinGlass.

Long-dormant whale activity has added to uncertainty after a wallet holding Bitcoin since 2011 unloaded more than US$1.3 billion in late October.

S&P stocks shed US$2.7 trillion

A sharp pullback across US equities sparked another wave of risk-off trading in crypto, sending Bitcoin to its weakest level in seven months.

The S&P 500’s nearly 4 percent decline on Thursday erased more than US$2.7 trillion in market value, according to Bloomberg calculations, overshadowing an earlier bounce driven by enthusiasm around AI-linked earnings.

Crypto assets fell in tandem, with Bitcoin briefly revisiting the US$85,000 range and total liquidations surpassing US$800 million for the day.

Coinbase rolls out Ether-backed loans

Coinbase has launched a new lending feature that allows eligible US users to borrow up to US$1 million in USDC by using Ether as collateral.

The product is integrated with the Morpho protocol on Base, though users interact with it entirely through Coinbase’s interface. Borrowers keep exposure to ETH’s price movements while accessing liquidity without having to sell their holdings.

The company says the service is available across most US states, with the exception of New York due to regulatory requirements.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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MP Materials, US Department of Defense Strike Saudi Rare Earths Refinery Deal

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MP Materials (NYSE:MP) and the US Department of Defense have entered into a joint venture with Saudi Arabia’s Maaden to build a rare earths refinery in the Kingdom, marking the first major project under a new US-Saudi critical minerals cooperation framework signed in Washington this week.

The binding agreement gives both the US and MP a collective 49 percent stake in the refinery.

Maaden will hold not less than 51 percent, and the refinery will be built in Saudi Arabia, where it will process feedstock from both local deposits and international sources. Once operational, it will produce separated light and heavy rare earth oxides for customers in the US, Saudi Arabia and allied countries.

Rare earths are essential for the production of weapons systems, electric vehicles, renewable energy technologies and high-performance electronics. Secure supply has become increasingly important due to China’s sector dominance.

James Litinsky, MP’s founder and CEO, said the company views the partnership as an extension of its strategic role in Washington’s efforts to diversify global supply chains. “We are honored that the U.S. government asked MP to partner on a project of this magnitude and importance for America and its allies,” he said.

Maaden CEO Bob Wilt said the project fits squarely within the Kingdom’s national mining and industrial strategy.

“This JV is a significant step forward in the development of this important global sector, underpinned by the support of Saudi Arabia’s Ministry of Energy and the Ministry of Industry and Mineral Resources,” Wilt noted.

The joint venture was negotiated under a critical minerals framework signed by senior US and Saudi officials this week. The document is intended to formalize cooperation on rare earths, battery metals and other strategic inputs.

For Washington, the initiative reflects an effort to reshape supply chains away from geopolitical competitors. For Riyadh, it supports a long-term plan to leverage energy resources and expand its footprint in high-tech materials markets.

Financially, the deal is structured to be light in capital for MP.

The Department of Defense will fund the entire US contribution to the venture on a non-recourse basis, allowing MP to deploy technical expertise in separation and refining without taking on debt tied to the refinery’s construction.

The Saudi venture also connects to MP’s growing public-private alignment with the US defense sector.

In July, the company and the Department of Defense announced a multibillion-dollar partnership to accelerate the buildout of a domestic rare earth magnet supply chain. Under the partnership, MP is also constructing a second magnet manufacturing facility known as the 10X Facility, which is expected to begin commissioning in 2028.

When completed, MP’s total US magnet output will reach roughly 10,000 metric tons annually.

Beyond government partnerships, MP has also moved into large-scale commercial magnet supply. Also in July, Apple (NASDAQ:AAPL) and MP announced a US$500 million long-term agreement that will supply Apple with magnets manufactured in the US using 100 percent recycled rare earths feedstock.

Under the arrangement, MP will expand its Fort Worth, Texas, Independence factory to produce components for hundreds of millions of Apple devices starting in 2027. Apple and MP spent nearly five years jointly developing recycling techniques to meet the company’s performance and design requirements.

MP will add a dedicated recycling line at Mountain Pass to support commercial scale as magnet production ramps.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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First Nation-Owned Minago Project Pushes Manitoba into Critical Minerals Spotlight

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A First Nation-owned mining project in Northern Manitoba is drawing national attention after new assessments suggest it could become a major North American source of magnesium.

Norway House took full ownership of the Minago nickel property in November 2024, and has since rebranded it as a critical minerals project after discovering large quantities of magnesium and platinum-group metals.

“Instead of a nickel project, we found out that we had a treasure chest of all sorts of critical minerals and very obscure minerals that really makes the project much more valuable, and unbelievably more attractive to produce,” Jim Rondeau, the community’s major projects director and a former Manitoba cabinet minister, told CBC.

In focus is a 60 meter band of dolomite rock containing what Rondeau described as a significant concentration of pure magnesium. In his view, the site could “rival the Ring of Fire in Ontario.”

“We could be producing all of the magnesium for Canada and the US for generations,” he added.

Magnesium, which is listed as a critical mineral in Canada, is prized for its use in aluminum alloys for automobiles, machinery and advanced manufacturing. It also has roles in aerospace and clean energy applications.

Norway House estimates production could begin by 2027, but reaching that point will require an investment of roughly C$1.3 billion. Based on a 2011 assessment, Rondeau said the mine has the potential to produce more than C$20 billion a year, and he believes that number could climb dramatically with the newly identified platinum-group metals.

Still, he emphasized the project cannot move ahead without support. Norway House has asked the federal government for about C$110 million and the province for roughly C$60 million to cover infrastructure and skills training.

To date, provincial support has been limited. Manitoba has provided C$50,000 from its mineral development fund for magnesium testing, along with ongoing non-financial assistance on permitting and quarry licensing.

Magnesium production is heavily centered in China, which currently supplies approximately 85 percent of the world’s demand. This concentration exposes North American manufacturers to price volatility and geopolitical risk.

West High Yield secures Record Ridge approval

While Manitoba’s Minago project is currently capturing national attention, BC has quietly emerged as another potential frontier for magnesium-mining activity in North America.

In October, West High Yield Resources (TSXV:WHY,OTC Pink:WHYRF) received final approval from BC’s Ministry of Mining and Critical Minerals to develop and operate its Record Ridge industrial minerals mine near Rossland.

The provincial Mines Act Permit allows construction and operations after extensive environmental assessments and consultations with Indigenous and local communities.

The project will focus on magnesium, but the site also contains silica, nickel and iron.

The company’s long-term goal is to establish Canada’s first magnesium-refining plant.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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Intention to Explore Dual Listings

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Amazing AI plc (AQSE: AAI) – 20 November 2025: AAI is a global fintech group with a Digital Asset Treasury Policy that provides online consumer loans and AI finance-related services. AAI announces that the Company is exploring its options to dual list on the Mauritius Stock Exchange and OTCQB Market in the US and will provide updates to the market should applications proceed accordingly.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation, and the Directors of the Company accept responsibility for the contents of this announcement.

Enquiries:

Amazing AI plc

Paul Mathieson – Chief Executive Officer

aai@amazingaiplc.com

Guild Financial Advisory Limited (Corporate Adviser)

Ross Andrews

ross.andrews@guildfin.co.uk

Evangeline Klaassen

evangeline.klaassen@guildfin.co.uk

About Amazing AI plc

Amazing AI plc (AAI) is a global fintech group with a diversified Digital Asset Treasury Policy, that provides online consumer loans and AI finance-related services. AAI leverages its regulated licensed lending and collections operations, experience and network to distribute best-of-breed AI finance-related services internationally, specifically focused on lending, collections and debt financing services. AAI operates under the consumer brand Mr. Amazing Loans in the United States with 6 state consumer lending licenses/certificates of authority and an established track-record of lending, collections and regulatory compliance for over 15 years.

For more information please visit: www.amazingaiplc.com and www.aquis.eu/companies/aai

Important Notices

Amazing AI plc (the ‘Company’), via its 100% owned Mauritius subsidiary Amazing AI Services Ltd, holds treasury reserves and surplus cash in digital assets. Whilst the Board of Directors of the Company considers holding digital assets to be in the best interests of the Company, the Board remains aware that the financial regulator in the UK (the ‘Financial Conduct Authority’ or ‘FCA’) considers investment in digital assets to be high risk. At the outset, it is important to note that an investment in the Company is not an investment in digital assets, either directly or by proxy. However, the Board of Directors of the Company consider digital assets to be an appropriate store of value and growth for the Company’s reserves and, accordingly, the Company is materially exposed to digital assets. Such an approach is innovative, and the Board of Directors of the Company wish to be clear and transparent with prospective and actual investors in the Company on the Company’s position in this regard.

The Company is neither authorised nor regulated by the FCA and digital assets are unregulated in the UK. As with most other investments, the value of digital assets can go down as well as up, and therefore the value of digital asset holdings can fluctuate. The Company may not be able to realise any future digital asset exposure for the same as it paid in the first place or even for the value the Company ascribes to digital asset positions due to these market movements. As digital assets are unregulated, the Company is not protected by the UK’s Financial Ombudsman Service or the Financial Services Compensation Scheme.

Nevertheless, the Board of Directors of the Company has taken the decision to invest in digital assets, and in doing so is mindful of the special risks digital assets presents to the Company’s financial position. These risks include (but are not limited to): (i) the value of digital assets can be highly volatile, with value dropping as quickly as it can rise. Investors in digital assets must be prepared to lose all money invested in digital assets; (ii) the digital assets market is largely unregulated. There is a risk of losing money due to risks such as cyber-attacks, financial crime and counterparty failure; (iii) the Company may not be able to sell digital assets at will. The ability to sell digital assets depends on various factors, including the supply and demand in the market at the relevant time. Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay; and (iv) digital assets are characterised in some quarters by high degrees of fraud, money laundering and financial crime. In addition, there is a perception in some quarters that cyber-attacks are prominent which can lead to theft of holdings or ransom demands. The Board of Directors of the Company does not subscribe to such a negative view, especially in relation to digital assets. However, prospective investors in the Company are encouraged to do their own research before investing.

Caution Regarding Forward Looking Statements

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company’s current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as ‘anticipates,’ ‘expects,’ ‘intends,’ ‘plans,’ ‘believes,’ ‘seeks,’ ‘estimates,’ and similar expressions are intended to identify forward-looking statements. These statements are not a guarantee of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company’s control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

Source

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Johnson says he’s ‘open’ to changing House censure rules after week of political drama

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Speaker Mike Johnson, R-La., is signaling openness to making it harder for House lawmakers to punish each other via a censure resolution.

The congressional leader sat down for an interview with Fox News Digital on Friday, the first week the House returned since the beginning of the 43-day government shutdown began on Oct. 1.

But the five-day legislative week was marked by volatile politics, with three separate lawmakers forcing votes on rebuking one of their colleagues — out of five total threats to do so.

‘There is a large groundswell of bottom up consternation about that. The members are so frustrated by what this has become — and I mean across the Republican conference, and I think on the Democrat side as well,’ Johnson said. ‘I’ve told everybody I’m open to those discussions, because I’m more frustrated than anyone about how this is devolved. I think we’ve got to protect the institution.’

Johnson said those talks have focused specifically on raising the threshold it takes to push a censure. 

Currently, any one lawmaker can introduce a censure resolution against another. Both Republicans and Democrats have also wielded a mechanism this week known as a ‘privileged resolution’ to force an immediate vote on rebuking a colleague.

Johnson said there’s ‘a lot of ideas’ being floated on changing the system.

‘I’ve had members from across the conference bringing me their thoughts and ideas on that, and we’ll be going through that in a deliberative fashion to figure out what makes the most sense,’ he said.

The speaker did not directly commit to a House-wide vote on legislation to change the rule on censure, but he said, ‘I think most of the discussion thus far, again this is coming from members, is that we should raise the threshold so that it can’t just be a one-off individual quest by someone. You’ve got to have some agreement by some small group of members to do it.’

‘That would probably make it a more meaningful and useful tool, and not one that’s abused,’ Johnson said. ‘We don’t have consensus around any particular idea, but it is something that the vast majority of the members of the body are talking about right now.’

He also pushed back on media reports that suggested he wanted to change rules around discharge petitions, another mechanism rank-and-file lawmakers can use to force their will on House leaders.

Johnson said it was not something he was even considering at the moment.

A discharge petition allows lawmakers to initiate a vote on a measure despite leadership’s objections, provided that petition has support from a majority of the House.

It was most recently used successfully by Reps. Ro Khanna, D-Calif., and Thomas Massie, R-Ky., on a bill forcing the Department of Justice (DOJ) to release its files on Jeffrey Epstein.

Johnson ended up voting for the bill along with all but one House lawmaker, despite airing concerns about its language possibly not doing enough to protect the privacy of Epstein’s victims and other innocent people whose names may be caught up in the process.

He told Fox News Digital, however, that he is not looking at making changes to that process.

‘Somebody quoted me as saying, ‘I’m going to raise the threshold for discharges’, but that hasn’t even been part of the discussion and not something that I’ve anticipated,’ Johnson said. ‘This discussion has been solely focused on the censure, because it’s so commonly used now.’

Censures are traditionally a rare rebuke reserved for the most egregious instances of violating House decorum. They’ve been used more and more frequently, however, in today’s increasingly tense political environment.


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John Bolton’s trial still far off as judge grills DOJ over lengthy discovery process

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Lawyers for John Bolton and the Trump administration appeared in federal court in Maryland Friday to discuss next steps in the criminal case for Trump’s former national security adviser, who was indicted last month on charges of mishandling classified and sensitive materials.

Bolton was indicted last month on 18 criminal charges stemming from his alleged retention and transmission of classified and sensitive materials during Trump’s first term, including national defense information.

Authorities have accused him of sending more than 1,000 ‘diary-like’ updates to his wife and daughter between 2018 and 2019 via emails and texts, including classified information from intelligence briefings and meetings with foreign officials. 

The pre-trial hearing in Bolton’s case on Friday was largely a procedural one, centered on next steps for both parties to review the breadth of discovery materials Bolton is accused of illegally retaining and transmitting.

If nothing else, it underscored the fact that Bolton’s trial is unlikely to take place for quite some time. The deadlines that both parties agreed to will put discovery in the case well into 2026, with a status conference in the case scheduled for October of next year. A trial date has not yet been set.

U.S. District Judge Theodore D. Chuang seemed reluctant to accept the government’s lengthy proposed timeline for the document review process to take place, noting the government’s obligations under the Speedy Trials Act, which sets time limits for federal criminal trials. 

Seven months ‘is a very long time,’ Chuang told Thomas Sullivan, the lead prosecutor for the Justice Department, referring to the proposed May 22, 2026, date to produce discovery.

‘How many documents are in play here? Frankly, most of this should have been done before the indictment,’ Chuang noted. ‘Even assuming that couldn’t be completed, I still can’t understand why it would take seven months.’

In response, prosecutors noted that they still need to sort through some 1,000 pages of single-space documents obtained from Bolton’s home, and reiterated they have set ‘aggressive deadlines’ for the intelligence community to review the documents.

Bolton’s lawyer, Abbe Lowell, said in response that there are as many as three electronic devices that they haven’t ‘even started the process’ of reviewing, and which all must be reviewed by the filter team. 

Chuang ultimately agreed to grant a modified review schedule for the documents in question. Parties were ordered to submit by January 12 the first tranche of 10 documents prosecutors have described as being at the ‘heart’ of Bolton’s indictment.

They will also submit a joint status report detailing for the court where they are in the discovery process, and proposing the next interim deadline and the scope of materials that will be reviewed before then. 

The hearing comes as Bolton has attempted to cast his criminal case as part of a broader effort by the Trump administration to go after his perceived political foes, including former FBI Director James Comey and New York Attorney General Letitia James.

Still, the case against Bolton differs significantly. 

Unlike those cases, Bolton’s investigation into his handling of classified materials moved forward in part during the Biden administration, and career prosecutors in the U.S. Attorney’s office signed off on the charges — a contrast to the cases against Comey and James, which were brought by Trump’s former attorney, Lindsey Halligan.

Bolton, who pleaded not guilty to all charges last month, was ordered released by a magistrate judge on the condition that he remain in the continental United States and surrender his passport.

In a statement released after his indictment, Bolton said, ‘I have become the latest target in weaponizing the Justice Department to charge those he deems to be his enemies with charges that were declined before or distort the facts.’


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WPIC: Platinum Market Set for 2026 Stability After Years of Deep Deficits

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Platinum appears to be headed for its first broadly balanced year since 2021, with new projections pointing to a small surplus in 2026 as supply recovers and investment demand retreats from unusually elevated 2025 levels.

The latest Platinum Quarterly from the World Platinum Investment Council (WPIC) shows the market is still firmly set for a deficit in 2025, with a shortfall of 692,000 ounces, equal to roughly 9 percent of annual demand.

However, 2026 may be a turning point where the extreme tightness of recent years begins to ease — not because demand is weakening broadly, but because investment activity is expected to normalize.

Platinum market starting to self-correct

The platinum price has risen sharply in 2025 alongside a strong performance across precious metals, and the WPIC states that higher prices have started to produce early signs of a “self-solving” market.

Recycling volumes, which respond more quickly to price incentives than mining output, are increasing at a double-digit pace and are set to play a larger role in 2026. At the same time, the buildup of exchange warehouse stocks linked to tariff uncertainty in the US is expected to unwind next year if trade frictions ease.

Those trends collectively underpin the WPIC’s baseline forecast for next year: a market moving to near equilibrium, with a small surplus of about 20,000 ounces in 2026.

High lease rates a key feature of 2025

While next year’s platinum surplus looks to be modest, it’s worth noting that physical availability of the metal has tightened to levels rarely seen in modern times. Platinum’s implied one month lease rate averaged 15 percent in the third quarter of the year after sitting at only 1 percent through most of 2024, pointing to spot market stress.

At times in mid-July, lease rates spiked near 40 percent as traders scrambled for metal that was either unavailable in Europe, or locked up in China and the US due to trade-related risk management.

Even if prices have moderated some of the pressure, elevated lease rates remains a defining feature of 2025.

The WPIC maintains that many of the concerns around availability stem from the simple drawdown of physical stocks. Years of persistent deficits reduced vaulted inventories in Europe, undermining assumptions that large, accessible stores of metal would remain available to supplement shortfalls.

Instead, the combination of region-specific demand, US tariff fears and aggressive Chinese imports resulted in metal being redistributed into markets where it could not easily be lent out.

Platinum supply/demand dynamics in 2026

The WPIC expects these pressures to ease next year as supply increases.

Total supply is forecast to rise 4 percent year-on-year in 2026 to 7,404,000 ounces, the highest since 2021.

Mine production is expected to inch higher, mainly because South African producers will be able to release some of the semi-finished inventory they could not process earlier. Zimbabwean output is also anticipated to improve slightly, while declines in North America and Russia are expected to be relatively modest.

More importantly, platinum recycling supply is forecast to grow by 10 percent as a direct result of the stronger price environment and increased processing of spent autocatalysts.

On the flip side, total platinum demand is expected to drop 6 percent to 7,385,000 ounces in 2026, almost entirely because investment flows are set to normalize after an unusually strong 2025.

Investment demand is projected to fall 52 percent as exchange warehouse stocks unwind and investors take profits after this year’s price surge. The WPIC frames this shift not as weakening sentiment, but as a correction from one-off trade and macro conditions that inflated investment inflows last year.

Will the platinum price fall in 2026?

These supply/demand dynamics are expected to produce the narrow surplus projected for 2026.

However, the report emphasizes that market balance will not necessarily translate into lower prices. Spot physical tightness persists, with many structural constraints remaining in place and investors continuing to allocate toward hard assets given interest rate expectations and growing concerns around critical minerals security.

A surplus, but still a fragile market

The WPIC suggests that the 2026 surplus should be viewed as tentative and highly sensitive to disruptions.

Platinum mine supply remains vulnerable to operational and logistical issues, with output from South Africa and Russia being exposed to infrastructure pressure, equipment shortages and grade declines.

Moreover, the Section 232 US trade investigation is adding to the uncertainty. Delayed by the extended government shutdown, the review has been seen as a major driver of exchange warehouse inflows in 2025.

The outcome will shape how quickly those stocks return to the market, and whether regional price differentials persist into 2026, especially after China revoked its longstanding tax rebate on imported platinum this year.

Taken together, the WPIC’s outlook for 2026 portrays a market that is no longer defined by scarcity, but not yet comfortably supplied. After years of sizable deficits, a small surplus could dampen opportunities, but tightness in physical availability and the role of trade politics in shaping the market may still support the price.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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Stonegate Capital Partners Updates Coverage on Heliostar Metals Ltd2Q26

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Heliostar Metals Ltd (TSXV: HSTR,OTC:HSTXF): Stonegate Capital Partners updates their coverage on Heliostar Metals Ltd (TSXV: HSTR,OTC:HSTXF). Heliostar continued to advance its flagship Ana Paula project in Guerrero as a high-grade underground development asset, now highlighted by a positive PEA released in early 4Q25. The study outlines total recovered production of ~875,000 ounces over a nine-year mine life, with mill feed averaging 5.37 gt gold and a 1,800 tpd underground operation producing roughly 101 koz per year at cash costs of ~US$923oz and AISC of ~US$1,011oz. At US$2,400oz gold, the PEA delivers a post-tax NPV5 of US$426M, a 28% IRR, and a 2.9-year payback, with strong leverage to higher gold prices. Management is progressing engineering, metallurgical work, and a 15,000m drill program to upgrade Inferred resources, extend the High-Grade and Parallel panels, and support a Feasibility Study targeted for mid-2026, with first underground production still expected in 2028.

To view the full announcement, including downloadable images, bios, and more, click here.

Key Takeaways:

  • PEA shows US$426M NPV5 28 percent IRR US$300M capex about 101 koz per year AISC ~US$1,011 and 2.9 year payback.
  • Quarter revenue was US$26.8M with net income US$1.3M supported by La Colorada and San Agustin operations.
  • Path forward targets a feasibility study by mid 2026 an underground permit amendment in 1Q26 and early works to enable 2028 production.

Cannot view this image? Visit: https://images.newsfilecorp.com/files/7294/275450_figure1_550.jpg

Click image above to view full announcement.

About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.

Contacts:

Stonegate Capital Partners
(214) 987-4121
info@stonegateinc.com

Source: Stonegate, Inc.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275450

News Provided by Newsfile via QuoteMedia

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Israel-Hezbollah border tensions rise as terror group rearms, resists US- backed ceasefire

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The Iran-backed Lebanese terrorist movement Hezbollah is rebuilding its military arsenal on Israel’s northern border, as experts warn that another war between the two sides could be on the horizon. The latest developments come a year after the U.S. helped broker a ceasefire between the parties.

On Wednesday, IDF spokesman Nadav Shoshani, said Hezbollah had engaged ‘in a blatant violation of the ceasefire agreement.’ Shoshani also released a video showing the rearming, claiming the terror group was ‘operating to reestablish its assets in the village of Beit Lif.’ 

Critics argue that the U.N. peacekeeping force, UNIFIL, is not fulfilling its mandate to disarm the terror group and the Lebanese Armed Forces are moving too slowly, which has led to continued Israeli actions against the terrorists. The IDF has been launching near-daily strikes against the group’s infrastructure and operatives inside Lebanon. 

Sarit Zehavi, a leading Israeli security expert on Hezbollah from the Israel Alma Research and Education Center, told Fox News Digital that Hezbollah does not currently ‘have the capability to carry out an October invasion. They had it prior to Oct. 7, 2023. They can send in a few terrorists. I want to believe it will take a few years to get those capabilities back.’

Fox News Digital exclusively reported last year on Hezbollah’s war plan to invade northern Israel and carry out a scorched-earth campaign against the Jewish state.

A day after the Iran-backed Hamas invaded Israel on Oct. 7, 2023, and massacred over 1,200 people, Hezbollah launched missile attacks against Israel.

Zehavi said, ‘Both the IDF and Hezbollah are very active. The IDF is very active to stop the rehabilitation of Hezbollah and Hezbollah is very active in rebuilding. Hezbollah learned lessons. It has been more problematic to smuggle weapons to Lebanon from Syria. It is happening. But the Syrians intercepted weapons.’

She noted that the ‘Syrian regime is willing to fight Hezbollah to fight weapons smuggling. Hezbollah is relying more on manufacturing rockets.’

Zehavi, who lives in northern Israel, said that ‘almost half of Israeli attacks on Hezbollah are south of the Litani river. We see a lot of investment from Hezbollah in drones, short-range rockets, mortars and anti-tank missiles.’

On Tuesday in Germany, prosecutors started a trial against an alleged Hezbollah member running ‘an extensive drone program for some time.’

The German Federal Prosecutor’s Office said the suspected Hezbollah operative Fadel Z joined Hezbollah more than 10 years ago and worked as a ‘foreign operator’ for the group’s drone program in 2022 in Spain and Germany.

Zehavi said it suffered a defeat of its leadership via the Mossad pager attack on its commanders. However, she added, ‘Iran immediately provided oxygen to Hezbollah for treatment to help revive Hezbollah.’

She outlined Israel’s main defense strategy against Hezbollah. First, the IDF has positions in Syria and Lebanon. ‘We cannot have civilians on the front line. The IDF is on top of hills in Israel and Lebanon and can see everything and can respond quickly to terrorist activities. This means when an Israeli woman opens her window and used to see a Hezbollah flag, she now sees an Israeli flag. This gives her a sense of security. This was not present before Oct. 7.

She estimates Hezbollah has 50,000 terrorists and 50,000 reservists. ‘We killed a few thousand terrorists.’

The IDF made dramatic advances in eradicating Hezbollah’s missile arsenal. ‘We degraded 80%’ of the rockets, Zehavi said, noting the elimination of sizable numbers of Hezbollah’s long-range and highly accurate missiles.

Edy Cohen, a Lebanese-born Israeli scholar of Hezbollah, said, ‘There is no lack of arms for Hezbollah in Beirut and Lebanon. Lately, we saw many reports that Hezbollah received arms from Syria and Iran is trying to send arms by civilian Iranian airplanes.’

He said there is enormous pressure on Hezbollah and every week Israel is killing Hezbollah operative. The Shiite community in Lebanon wants Hezbollah to retaliate against Israel, said Cohen, adding, ‘For the Shiite community Hezbollah is the state.’

Cohen said the IDF is gathering intelligence information about Hezbollah’s arsenal and attacking almost every day its leaders and operatives.

He warned that because ‘Hezbollah said it will not disarm its militia … the big war will come.’

Fox News Digital reported in early November that Trump’s U.S. Ambassador to Turkey, Thomas Barrack, who also serves as envoy to Syria, said that Lebanon is a ‘failed state,’ because of its ‘paralyzed government.’

He also noted that Hezbollah retains 40,000 fighters and between 15,000 and 20,000 rockets and missiles, noting the terror group pays its militia $2,200 per month, whereas the Lebanese Armed Forces soldiers earn $275 a month and have inferior equipment as well.


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Crypto Market Update: Bitcoin Logs Weakest Month Since 2022

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Here’s a quick recap of the crypto landscape for Friday (November 21) as of 9:00 a.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$83,590.70, down by 10.4 percent over 24 hours. Its lowest price of the day was US$81,868.75 and its highest was US$91,971.75.

Bitcoin price performance, November 21, 2025.

Bitcoin price performance, November 21, 2025.

Chart via TradingView

Bitcoin’s slide continues as it heads for its worst month since the 2022 crypto crash.

The largest cryptocurrency fell and touched US$81,000 on Friday before recovering to around US$84,166, extending a monthly decline of about 23 percent that marks its heaviest drop since June 2022.

Despite pro-crypto messaging from the Trump administration and a year of strong institutional adoption, Bitcoin has now fallen more than 30 percent from its early-October record high. The downturn accelerated following the massive October 10 liquidation event that erased US$19 billion in leveraged positions and wiped roughly US$1.5 trillion from the combined value of all cryptocurrencies.

Institutional flows reflect the same caution. US-listed Bitcoin ETFs have recorded a record US$3.79 billion in outflows this month, surpassing February’s previous high, with BlackRock’s IBIT alone seeing more than US$2 billion in redemptions.

In total, about US$1.2 trillion has been wiped from crypto markets over the past six weeks, according to CoinGecko data.

Ether (ETH) was at US$2,736.63, down 11.2 percent over 24 hours. Its lowest price on Friday was US$2,675.70 and its highest was US$3,033.20.

Altcoin price update

  • XRP (XRP) was priced at US$1.94, down by 12.2 percent over 24 hours. Its lowest price of the period was US$1.86 and its highest was US$2.13.
  • Solana (SOL) was trading at US$128, down by 13 percent over 24 hours. Its lowest price of the day was US$123.30 and its highest was US$141.97.

Fear and Greed Index snapshot

CMC Crypto Fear and Greed Index, Bitcoin price and Bitcoin volume.

Chart via CoinMarketCap.

As of Friday, CMC’s Crypto Fear & Greed Index has plunged to 11, firmly in “extreme fear” and its lowest level since late 2022.

Reports of large-scale whale liquidations have added to the uncertainty, amplifying pressure across an already fragile market. Further, traders brace for potential Federal Reserve inaction on rate cuts. CME’s FedWatch now shows only 37.6 percent expecting a 25-basis-point cut in December, while more than 62 percent anticipate no change, a reversal from near-even odds just a week ago.

Prediction market Polymarket reflects the same trend, pricing a 63 percent chance of no move after sentiment flipped late Tuesday.

Today’s crypto news to know

Bitcoin logs weakest month since 2022

Bitcoin is heading for its steepest monthly decline since the wave of corporate failures that hit the crypto sector in 2022, with the token sliding below US$82,000 on Friday.

Its November losses have now reached roughly 25 percent, reversing much of the momentum that carried prices to record highs in early October.

Overall, data from CoinGecko shows the total crypto market value dipping back under US$3 trillion as Ether and mid-cap tokens recorded similar double-digit declines.

Analysts link the downturn to cascading liquidations that began on October 10, when nearly US$19 billion in leveraged bets were wiped out in a single session. Selling pressure intensified again this week with a two-day liquidation tally topping US$2 billion, according to CoinGlass.

Long-dormant whale activity has added to uncertainty after a wallet holding Bitcoin since 2011 unloaded more than US$1.3 billion in late October.

S&P stocks shed US$2.7 Trillion

A sharp pullback across US equities sparked another wave of risk-off trading in crypto, sending Bitcoin to its weakest level in seven months.

The S&P 500’s nearly 4 percent decline on Thursday erased more than US$2.7 trillion in market value, according to Bloomberg calculations, overshadowing an earlier bounce driven by enthusiasm around AI-linked earnings.

Crypto assets fell in tandem, with Bitcoin briefly revisiting the US$85,000 range and total liquidations surpassing US$800 million for the day.

Coinbase rolls out ETH-backed loans

Coinbase has launched a new lending feature that allows eligible US users to borrow up to US$1 million in USDC by using Ether as collateral.

The product is integrated with the Morpho protocol on Base, though users interact with it entirely through Coinbase’s interface. Borrowers keep exposure to ETH’s price movements while accessing liquidity without having to sell their holdings.

The company says the service is available across most US states, with the exception of New York due to regulatory requirements.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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