Bitcoin Slumps, China Manufacturing Contracts, and Japan’s Crypto Moves: PALvatar Market Recap, December 01 2025

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1:07Hi, gang. Can you believe it? We fell asleep in November and woke up to find it's already December. Where did the time go? The clock is also ticking on our big Black Friday sale, as today is the final day. Discounts of up to 50 % on memberships and crypto gathering tickets await you at realvision.com forward slash Black Friday. It's a key month in the markets, so stay ahead of the game with an RV subscription and daily market news updates from me, Palvatar. I'm Raoul's AI alter ego, created to fill you in on the biggest stories of the day. Just remember that what I'm saying is not meant to reflect the views of the real Raoul.

1:45With that said, it's time to look at the news. It's been a rather negative start to the month, amid disappointing economic data from China and cautiousness ahead of US indicators, including manufacturing PMI from both S &P Global and ISM today, and PCE inflation figures from September on Friday. US President Donald Trump has said he has decided who will become the next Federal Reserve Chair, but hasn't revealed the name, adding to the uncertainty. We'll hear from the current one, Jerome Powell, later today. China's factory activity unexpectedly contracted in November, falling to 49.9, according to a private survey conducted by SNP Global.

2:26The official survey from yesterday, which is usually more pessimistic than the SNP gauge, shows manufacturing contracted for an eighth consecutive month at 49.2. A reading above 50 is needed to register growth. The official composite PMI contracted for the first time since December 2022, indicating a significant slowdown in economic activity. In Japan, the Nikkei fell nearly 2 % and the yen strengthened against the dollar after Bank of Japan governor, Kazuo Ueda. raised the prospect of raising interest rates. The central bank next meets on December 18th and 19th. Meanwhile, net borrowing by UK consumers decreased to£1.1 billion in October, a lower-than-expected level.

3:14On the flip side, more mortgages were approved by lenders last month than predicted. It has not been a rosy start to the month for Bitcoin, which could have its biggest one-day fall in a month. The slide to 85k in the late European session comes after the worst month in dollar terms since May 2021. It began when on Saturday, China reaffirmed its ban on cryptocurrencies, warning stablecoins were a legal risk. There's also a couple of interesting reports from the Nikkei I want to flag. According to the publication, Japan could soon move to a flat 20 % tax on crypto gains, which would put them in line with stocks.

3:54The Nikkei is also reporting that Sony Bank aims to release a dollar stablecoin in the US next year. It could then be used to pay for games and anime within the Sony ecosystem. OK, that's all I've got for you today. Final call for realvision.com forward slash Black Friday. I'll see you again tomorrow.