Solana’s network took a notable step this week as Firedancer, a validator client developed by Jump Crypto, began running on the mainnet, and markets reacted quickly. Related Reading: Is Dogecoin Waking Up? Critical On-Chain Metric Explodes Higher According to Solana’s announcement, the client moved out of a controlled testing phase and is now active for real-world validation. Traders pushed SOL up about 5%, with the token trading close to $140 during the initial move. Firedancer Goes Live On Mainnet During more than 100 days of controlled tests, a small set of validators produced more than 50,000 blocks without downtime, according to reports. Built in C and C++, Firedancer was made to handle heavy workloads and to lower the chance of network interruptions. Test environments reportedly showed the client processing over 1 million transactions per second, a figure that far exceeds current mainnet throughput. BREAKING: After 3 years of development, Firedancer is now live on Solana Mainnet, and has been running on a handful of validators for 100 days, successfully producing 50,000 blocks ???????? pic.twitter.com/Y0WxxEj2WL — Solana (@solana) December 12, 2025 That high number comes from lab-style tests, not live traffic, and should be read as experimental performance rather than everyday capability. Solana co-founder Anatoly Yakovenko marked the transition as a step out of a long beta cycle for the network. Early Adoption And Stake Adoption is still small in terms of stake. The first Firedancer nodes hold under one percent of total staked SOL, and that share is expected to grow as operators add it to their setups. Reports have disclosed that a December rollout prompted more than 20% of validators to move from earlier experimental clients, showing a rapid shift among some operators. Running multiple validator clients reduces dependence on a single software implementation. If one client encounters a bug, others can keep block production running. That diversity mirrors how other large proof-of-stake chains operate. Why This Matters For Validators And Apps Validators and developers stand to benefit if Firedancer keeps meeting its goals. Faster or more reliable validation could mean more capacity for apps that need many transactions per second. For node operators, the option to mix clients offers an added safety net. Still, the network’s real-world load will be the true test, and watchers say they will be looking at uptime and performance over the coming weeks. Related Reading: Do Kwon Falls Hard — Terraform Labs Chief Gets 15 Years For Wire Fraud Market Moves And Technical Signals The announcement coincided with a clear market flow into SOL. Reports have disclosed $11 million in inflows to Solana ETFs on the day of the news, while Bitcoin saw outflows of $77.30 million and Ethereum $42.35 million. Featured image from Phantom, chart from TradingView
According to a report from CNBC, Coinbase (COIN), the largest cryptocurrency exchange in the US, is preparing to launch its own prediction market in collaboration with Kalshi, one of the largest federally regulated financial exchanges in the country. Coinbase Teases Major Updates The anticipation surrounding the prediction market has been building for nearly a month. Recently, a screenshot of what appears to be Coinbase’s prediction markets dashboard was shared by Silicon Valley researcher Jane Manchun Wong in a post on social media site X (previously Twitter), shedding some light on the features of the forthcoming product. Related Reading: Crypto Market Dips: The Reasons Behind Bitcoin Plunge Below $90,000 Despite FOMC Optimism The Information first indicated on November 19 that Coinbase planned to introduce these prediction markets powered by Kalshi, with a formal unveiling set for the “Coinbase System Update” event scheduled for December 17. Formal announcements regarding this new platform are expected soon, potentially as early as next week. Bloomberg corroborated this report, stating that the cryptocurrency exchange is also likely to announce a tokenized stock offering during the same event, in line with Tether’s same vision reported earlier this week. While Coinbase has refrained from confirming these developments directly to CNBC, the company has encouraged stakeholders to tune in to its upcoming event for more details. The firm did not disclose a specific timeline for when the prediction markets will become available to users. ‘Everything Exchange’ Status Coinbase’s push to launch a prediction market is part of a broader strategy to transform itself into an “everything exchange”—a comprehensive platform for trading a wide variety of assets, including cryptocurrencies, tokenized stocks, and event contracts. CEO Brian Armstrong articulated this vision earlier in May, stressing that the cryptocurrency exchange aims to evolve into a leading financial services application within the next decade. This development comes as Coinbase faces increasing competition from rivals like Robinhood (HOOD), Gemini (GEMI), and Kraken, all of whom have introduced tokenized equity offerings for users outside the US and are exploring prediction markets to varying extents. Related Reading: Report Reveals 65% Of Bitcoin Treasury Companies Struggling With Major Unrealized Losses Coinbase is expanding its range of financial instruments while making a series of acquisitions this year. These include major deals such as the purchase of the crypto derivatives exchange Deribit and the on-chain advertising firm Spindl, as well as seven other major acquisitions. This also follows a shift in investor sentiment in the digital asset space, with the largest cryptocurrencies — including Bitcoin (BTC) — having retraced by over 30% since October amid fears of a new bear market beginning. Over the past months, the exchange’s stock, which trades under the ticker name COIN, has also seen a significant drop of over 39%, with the current valuation standing at $267 per share. Featured image from DALL-E, chart from TradingView.com
As Pakistan continues to deepen its involvement in the digital asset landscape, the country has signed a memorandum of understanding (MoU) with crypto exchange Binance, aiming to explore the tokenization of up to $2 billion in sovereign bonds, treasury bills, and commodity reserves to enhance liquidity and attract foreign investors. $2 Billion Asset Tokenization Initiative According to Reuters, the agreement sets the stage for a potential collaboration focused on allowing the tokenization and blockchain-based distribution of various real-world assets (RWAs) held by the Pakistani government. These assets may include sovereign bonds, treasury bills, and a range of commodity reserves such as oil, gas, metals, and other raw materials. Related Reading: Crypto Market Dips: The Reasons Behind Bitcoin Plunge Below $90,000 Despite FOMC Optimism The country’s finance ministry, Muhammad Aurangzeb, indicated that while the initiative could involve assets valued at up to $2 billion, final approval is still pending. The goal is to improve liquidity, transparency, and access to international markets for these assets. Aurangzeb remarked that the memorandum of understanding signifies Pakistan’s commitment to a reform-oriented economic trajectory and establishes a long-term partnership with Binance. Binance founder Changpeng Zhao expressed optimism about the agreement, calling it “a great signal for the global blockchain industry and for Pakistan.” He suggested that this partnership marks the beginning of a significant shift toward fully implementing the tokenisation initiative. PVARA Provides Initial Clearance For Binance And HTX In addition to this MoU, Pakistan has granted initial clearance for Binance and cryptocurrency exchange HTX, to register with local regulators as part of their efforts to establish domestic subsidiaries. This step allows both companies to prepare applications for full exchange licenses. The Pakistan Virtual Assets Regulatory Authority (PVARA) provided these early approvals after assessing the governance and compliance frameworks of both platforms. Chairman Bilal bin Saqib indicated that these clearances initiate Pakistan’s phased licensing process, emphasizing that the strength of compliance will play a crucial role in determining which exchanges will proceed. This move comes as Pakistan accelerates its digital finance overhaul, which has included the formation of the Pakistan Crypto Council and the establishment of the PVARA, alongside the drafting of a formal licensing regime. Related Reading: Report Reveals 65% Of Bitcoin Treasury Companies Struggling With Major Unrealized Losses As Bitcoinist reported at the time, Pakistan’s growing involvement in digital assets drew the attention of industry leaders such as Michael Saylor, co-founder of the Bitcoin proxy firm Strategy, who praised the country’s efforts and described it as a sign that the country understands how to handle this new market. Notably, Pakistan ranks as the world’s third-largest cryptocurrency market by retail activity, according to Saqib. The government is also planning a pilot program for a central bank digital currency (CBDC) and a comprehensive Virtual Assets Act. At the time of writing, the exchange’s native cryptocurrency, Binance Coin (BNB), is trading at $878, down 35% from all-time highs just above $1,369. Featured image from DALL-E, chart from TradingView.com
Binance, the world’s largest crypto exchange, has broadened support for USD1, the stablecoin tied to World Liberty Financial and US President Donald Trump’s crypto ventures, reports disclosed. The exchange added new spot pairs including ETH/USD1, SOL/USD1 and BNB/USD1, and enabled fee-free swaps between USD1 and other major stablecoins. Related Reading: Is Dogecoin Waking Up? Critical On-Chain Metric Explodes Higher Binance Will Shift Collateral Into USD1 The exchange will convert all collateral backing its Binance-Peg BUSD (B-Token) into USD1 at a 1:1 ratio, a process the company said should be completed within one week. This change means USD1 is being folded into its internal collateral and liquidity systems rather than remaining only a tradable token. Market Reaction And Liquidity Effects Traders reacted quickly. Price moves in BNB and other tokens showed more buying interest after the announcement. Market data snapshots suggested a short-term uptick in BNB as liquidity and trading routes were expanded by the new USD1 pairs. Reports put the token’s wider market use and the platform’s zero-fee swaps as the likely drivers. Binance to Add BNB/USD1, ETH/USD1 Trading Pairs; B-Token Collateral to Be Converted to USD1 According to an official announcement, @binance will list new spot trading pairs BNB/USD1, ETH/USD1, and SOL/USD1 at 16:00 (UTC+8) on December 11, 2025. At the same time, Binance will… pic.twitter.com/mIPrkiR3Lj — ME (@MetaEraHK) December 10, 2025 Backing, Size, And Recent Deals According to public filings and market trackers, USD1 is backed by US Treasury bills, cash and equivalents and is redeemable at a one-for-one rate with the dollar. The stablecoin has grown quickly and is now listed among the larger stablecoins by market cap, with figures around $2.7 billion cited in recent summaries. Reports have also linked USD1 to a major Abu Dhabi investment that used the token for a $2 billion deal. Political Context And Scrutiny These commercial moves come after a politically charged episode: Trump granted a pardon earlier this year to Binance’s former CEO, an action that critics say raises questions about ties between Binance and the Trump family’s crypto interests. That sequence of events has drawn scrutiny from lawmakers and commentators, who are asking for more transparency around the deals and any possible conflicts of interest. Related Reading: Do Kwon Falls Hard — Terraform Labs Chief Gets 15 Years For Wire Fraud Company spokespeople have issued short statements denying that any political favors were sought or exchanged to secure deals. Binance said its public notices focused on product rollouts, trading schedules and incentives like zero fees for certain users, while World Liberty Financial emphasized the reserve backing behind USD1. Featured image from Unsplash, chart from TradingView
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Crypto markets saw a modest lift after the US Federal Reserve made another move on rates, and traders are watching for a clearer follow-through. According to reports, the Fed has carried out three consecutive interest rate cuts totaling 0.75% from September to December. The move was widely expected. Still, market responses have been mixed and somewhat choppy. Related Reading: American Bitcoin Makes Big Buy, Adds 416 BTC To Its Stack Fed Moves And Market Takeaway According to CoinEx chief analyst Jeff Ko, much of the Fed’s action was already priced in, and the updated dot plot leaned a bit more hawkish than some had hoped. Ko pointed to $40 billion in short-term Treasury purchases as a technical step to ease liquidity and lower short-term rates, not as a broad stimulus program. Markets took the measures as mildly positive. US stocks rose, and that helped Bitcoin find some footing after an early dip. Santiment And The Short-Term Reaction Based on reports from onchain analytics firm Santiment, each cut has prompted a classic “buy the rumor, sell the news” move where initial optimism is followed by short selling. ???????? The US Fed made three strategic cuts over the past 3 months, resulting in a total of an 0.75% reduction to interest rates. 1⃣ September 17, 2025: Fed lowered the target range to 4.00 %–4.25 % (from 4.25 %+) at the 16–17 Sep meeting. 2⃣ October 29, 2025: Fed cut the rate to… pic.twitter.com/X6DWypvq5t — Santiment (@santimentfeed) December 11, 2025 Cuts are seen as bullish for crypto over the long haul, yet they have triggered brief pullbacks in practice. Santiment adds that a small wave of FUD or retail selling often signals that the mild post-cut downswing is finished and a bounce may follow once things calm down. Technical Levels Traders Are Watching Bitcoin was volatile in the aftermath. It fell under $90,000 then popped to $93,500 on Coinbase before settling near $92,300 at the time of reporting. Key resistance sits between $97,000 and $108,000. On the daily chart, BTC remains inside a small rising channel that sits within a larger downtrend, and technical traders note that a MACD histogram is approaching a positive crossover — a sign some see as possible renewed momentum. ETF activity has been tepid, with only $219 million in net inflows since late November, which keeps some investors cautious. Related Reading: Is Dogecoin Waking Up? Critical On-Chain Metric Explodes Higher Dollar Weakness And Equity Signals A weaker dollar has been part of the backdrop; the DXY index fell to 98.36 and is showing bearish momentum on its own MACD. Nasdaq’s move back above its 50-, 100- and 200-day simple moving averages helped lift risk assets briefly, and that has supported Bitcoin’s rebound attempts. Yet correlation with equities remains uneven — losses in stocks tend to hit Bitcoin harder than gains help it, creating an asymmetric risk profile for traders. Featured image from Impossible Images, chart from TradingView
The buybacks are funded by network revenue as Pyth reports rising traction, with its Pyth Pro product surpassing $1M ARR in its first month.
On Thursday, Bitcoin (BTC) once again fell below the critical $90,000 mark, even after what many had anticipated to be a bullish event stemming from the US Federal Reserve’s (Fed) decision to cut rates by a quarter point. Analysts from Bull Theory note several factors contributing to this unexpected downturn. Bitcoin Sell-Off Amid Market Unease The analysts pointed out that the rate cut itself was largely anticipated by investors weeks prior, with a 95% probability already priced into the market. Ahead of the announcement, they identified that many positioned themselves in expectation of some form of liquidity support from the Fed, leading to a rally in Bitcoin prices. However, when the actual cut and the accompanying plan for $40 billion in monthly T-bill purchases were confirmed, many of these “whales”—large investors in the market—began to take profits. Related Reading: Strategy Calls For Withdrawal Of MSCI’s Exclusion Plan For Digital Asset Treasury Companies Adding to the market’s unease was Fed Chair Jerome Powell’s post-announcement press conference, where he highlighted persistent weaknesses in the labor market and ongoing inflation concerns. Furthermore, the Fed’s dot plot projections indicated the likelihood of only one additional rate cut in 2026. The situation was compounded by disappointing earnings results from Oracle, which reported its second quarter’s financials after the market’s close. The tech giant missed its adjusted revenue estimates, and higher capital expenditure projections led the stock to plunge by more than 11% in after-hours trading. This drop also negatively impacted US stock futures, as concerns grew that the artificial intelligence (AI) boom may be peaking. The widespread fear from Oracle’s results quickly spread from equities into the cryptocurrency space. Ultimately, all three factors converged to create a significant sell-off: the rate cut was already factored into the market, liquidity trades had been preemptively enacted, and Powell’s remarks did not provide the strong easing signal that some traders had hoped for. Positive Liquidity Conditions Expected In 2026 Interestingly, Bull Theory analysts assert that the crypto market’s recent decline is not indicative of a fundamental shift towards bearish conditions but rather an overreaction based on high expectations leading up to the Fed’s announcement. The Fed has now enacted rate cuts three times in as many meetings, and their plans to purchase $40 billion in T-bills over the next month are designed to inject liquidity into the markets. Moreover, Powell indicated that further rate hikes are not on the horizon as a base case, and forecasts for solid economic growth next year remain intact. Related Reading: Bitcoin Is Neither In A Bull Nor Bear Market: Expert Explains The Setup Although job gains may have been overstated, suggesting a softer labor market, this could afford the Fed greater flexibility to ease monetary conditions in the future if necessary. The current market movements illustrate that the dumping of assets was largely driven by overly optimistic expectations rather than any deterioration in underlying fundamentals. Looking ahead, the analysts believe that next year is expected to be more favorable for Bitcoin and broader crypto prices in terms of liquidity, contrasting sharply with the conditions projected for 2025. Bitcoin recovered above $91,100 as of this writing, amid rising volatility. This puts the top cryptocurrency 26% behind its all-time high of $126,000, set in October of this year. Featured image from DALL-E, chart from TradingView.com
A recent report from BitcoinTreasuries.Net highlights significant challenges faced by Bitcoin-focused treasury companies since November. The findings revealed that the vast majority of these firms are now grappling with substantial unrealized losses, prompting many to sell off considerable amounts of their Bitcoin holdings. Market Struggles Continue In a sample analysis of 100 companies with reliable cost basis measurements, approximately 65% purchased Bitcoin at prices that now exceed the current market value, leaving a considerable number of these treasuries with substantial unrealized losses. Bitcoin’s market downturn in late November pushed spot prices down towards $90,000, leaving many buyers from 2025 at a financial disadvantage. Related Reading: Bitcoin Outlook Post Fed’s 0.25% Rate Cut: Historical Patterns And Predictions Now, the market’s leading crypto has retraced below this key level on Thursday, even despite the Federal Reserve (Fed) rate cut announcement. Among the companies surveyed, about two-thirds are found to be sitting on unrealized losses based on current market values. But despite the volatility in pricing, some of the largest balance sheets continued to acquire Bitcoin. Notably, firms like Strategy (previously MicroStrategy) and Strive significantly contributed to net additions in November, with Strategy accounting for approximately 75% of all monthly purchases following their sell-offs. Mining companies remain steadfast as a cornerstone of public market Bitcoin holdings. In November, they represented about 5% of new additions to the market and around 12% of the total balances held by public companies. Bitcoin Demand Remains Strong Even as Bitcoin treasury stocks have shown softness compared to Bitcoin itself and broader equity benchmarks, many companies still pursued strategies to add BTC to their balance sheets while refining their capital-market approaches. BitcoinTreasury.Net’s analysis indicates that nearly 50 firms have managed to achieve gains of at least 10% over the last 6 to 12 months. Over time, losses have begun to soften for some. Currently, around 140 companies have experienced declines of at least 10% over a 1 to 3 month period, while about 105 companies have seen similar declines year-to-date. However, not all corporate holders opted to weather the storm of price fluctuations. In November alone, at least five companies decided to sell Bitcoin, with Sequans leading the charge by offloading roughly one-third of its holdings. Related Reading: Strategy Calls For Withdrawal Of MSCI’s Exclusion Plan For Digital Asset Treasury Companies Looking forward, the fourth quarter of 2025 is expected to close with about 40,000 BTC added to public company balance sheets. This figure is notably below the totals from each of the prior four quarters and aligns closely with the additions seen in the third quarter of 2024. The report concluded that despite a clear easing in the “summer buying frenzy,” demand for Bitcoin has not entirely diminished as public corporations are adapting to a more cautious and selective approach as they reassess their recent purchases. At the time of writing, BTC traded at $89,920, down over 2% in the previous 24 hours. This places the cryptocurrency 27% behind its all-time high of $126,000 set in October of this year. Featured image from DALL-E, chart from TradingView.com
Dogecoin rose 4% to trade at $0.14 Thursday, according to market reports. Market capitalization was about $21 billion while 24-hour trading volume hovered near $1.6 billion. The move followed renewed on-chain activity that has drawn attention from traders and analysts. Related Reading: Institutions Scoop Up 9,000 Ether, Fueling Bullish Signals Spike In Active Wallets Based on reports from BitInfoCharts, the number of daily active addresses on the Dogecoin network jumped to over 67,500 on December 3, marking the second-highest reading in the past three months. That earlier spike on September 15 came as DOGE briefly approached a local top near $0.30. At that time, network activity rose as prices climbed; today, rising wallet activity is being watched closely as prices test a familiar zone after a long slide. Support Holding Near $0.14 Dogecoin is sitting above an important area around $0.138–$0.14, which has been tested and defended multiple times. Reports show the token has bounced off that level before, and trading volume has more than doubled during the most recent uptick, a sign that buying interest is growing. Market feeds also report mixed short-term figures: one line shows the token down by 5% in a week while another notes a 7.5% decline over the last week; those numbers do not align and highlight some reporting inconsistencies. Longer-term data show the token has lost roughly 60% over the past year and is about 50% off its recent highs. Volume And Technical Targets Traders are eyeing $0.16 as the next meaningful resistance. Based on reports, a decisive move above that zone would be the first clear break in the short-term bearish pattern. Beyond that, the 200-day exponential moving average sits as a broader target, often watched for signals that medium-term momentum has shifted. A break above the 200-day EMA would be treated by many as confirmation that a recovery could gain traction, although history shows these signals sometimes reverse quickly. Signals Are Mixed Daily active address spikes can point to rising interest. They can also reflect simple transfers, bot traffic, or wallet reshuffles by large holders. Increased volume helps the case for buyers, but active-address readings alone are not foolproof. The current setup looks like a battleground: both bulls and bears are more active than they were a few weeks ago. That activity makes the coming days important for traders who favor short-term moves. Related Reading: American Bitcoin Makes Big Buy, Adds 416 BTC To Its Stack Fed Meeting Adds A Macro Angle Meanwhile, this week’s Federal Reserve meeting has added an extra element of uncertainty. Market participants are parsing comments for signs of a rate cut, which many expect would lift risk assets, including cryptocurrencies. A shift in rate policy would likely move the broader market more than any single on-chain metric for one token. Featured image from Unsplash, chart from TradingView
The initiative remains exploratory, with any product launch dependent on securing required regulatory approvals, the firm said.
BlackRock filed for a staking-enabled Ethereum (ETH) trust on Dec. 5, which reframes the question of what kind of risk stack institutional investors will accept. The document outlines a structure that requires allocators to price three distinct failure modes simultaneously. First, protocol-level slashing penalties can hit the trust’s vault account with no guarantee of full […]
The post BlackRock’s move into Ethereum staking signals a brutal new fee regime that mid-tier operators won’t survive appeared first on CryptoSlate.
Banxico’s year-end report reaffirms its anti-crypto stance, highlighting legal risks, low adoption, and the need for international regulation.
Manche said the team has already begun investing, and he expects the capital to be deployed over the next few years.
Bitcoin pushed toward $95,000 in the hours before the Federal Reserve’s Dec. 18 meeting, then retreated to the $92,000 zone amid Jerome Powell’s confirmation of a mixed-to-bearish stance for 2026 and delicate on-chain structure. The Fed delivered an expected quarter-point cut, bringing the target range to 4.25%-4.50%, but Chair Jerome Powell spent the press conference […]
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American Bitcoin Corp. reported a fresh addition to its Bitcoin reserve after buying 416 BTC, bringing its total holdings to around 4,783 coins. Related Reading: Institutions Scoop Up 9,000 Ether, Fueling Bullish Signals According to company disclosures and market reports, American Bitcoin (NASDAQ: ABTC) acquired about 416 BTC in the week ending December 8, increasing its on-balance stash to roughly 4,783 BTC. The purchase came from a combination of mined coins and selective market acquisitions, the company said. American Bitcoin Boosts Holdings The cash value of the latest pick-up was roughly in the $38 million range when reported, based on market prices at the time. That addition places the firm among the larger corporate BTC holders and increases the amount of Bitcoin the company holds for treasury purposes. Reports have linked the buying to the firm’s stated strategy of growing its reserve alongside ongoing mining operations. Shares Slide While Reserves Grow While the balance sheet shows accumulation, the stock has struggled. Since ABTC’s market debut in September, shares have fallen by more than 70% from earlier highs, and the company has faced volatile trading as lock-up periods and market swings played out. Some analysts continue to cover the name, but investors watching the share price have been cautious even as the firm expanded its Bitcoin holdings. Mining, Custody And Pledges Based on reports, the newly reported total includes coins held in custody and some that are pledged under agreements tied to miner purchases. The company noted that a portion of its BTC comes directly from mining operations while other pieces were bought on the market. That mixed supply route means not all additions are simple open-market buys; some are internal production converted to treasury stock. Satoshis Per Share And What Investors See According to the company’s latest breakdown, its Satoshis Per Share (SPS) metric rose as a result of the accumulation, giving investors a clearer read on how much Bitcoin each share represents. The metric is being used by some market watchers to compare ABTC’s treasury strength against other public firms. Analysts have pointed to the SPS figure in their notes while also flagging the stock’s recent pressure. Related Reading: Forget Bitcoin’s Old Cycle—A New Institutional Era Has Begun: Cathie Wood Family Backing And Public Profile American Bitcoin was launched with backing from the Trump family and other partners, and the firm’s public profile has been higher than many peers because of that link. Reports have highlighted the involvement of Eric Trump and Donald Trump Jr., while also referring to US President Donald Trump as part of the broader family context that has helped draw attention to the business. Featured image from Unsplash, chart from TradingView
Ark Invest CEO Cathie Wood says Bitcoin’s long-running four-year pattern may be losing its grip as big financial players buy and hold more of the supply, a shift that could tame price swings and change how investors plan ahead. Related Reading: Institutions Scoop Up 9,000 Ether, Fueling Bullish Signals Institutional Buying Is Changing Markets According to Wood, large firms and spot ETFs are slowly locking up coins that used to flow in and out of retail hands. The most recent halving, on April 20, 2024, cut the miner reward to 3.125 BTC. On a daily basis, that reduction translated to about a 450 Bitcoin drop in supply each day, a figure some analysts call small compared with the trillions attributed to the market’s value and the billions moving into ETFs. Ark has been active too, buying shares in Coinbase, Circle and its own Ark 21Shares Bitcoin ETF (ARKB), a signal that institutional demand is more than a rumor. Cycle Rules Are Being Questioned Based on reports from banks and crypto firms, the familiar cycle—rises tied to halvings followed by deep crashes of 75–90%—is under debate. Standard Chartered cut its 2025 price forecast from $200,000 to $100,000, arguing ETF inflows weaken the halving’s price punch. Bitwise’s Matt Hougan and CryptoQuant founder Ki Young Ju have said institutional flows have changed or even erased the classic rhythm. Markets hit a peak near $122,000 in July, and some analysts now say future drawdowns may be shallower, in the 25% to 40% range rather than the extreme collapses seen earlier. Market Structure Still Shows Old Patterns Not all evidence points to a finished cycle. Reports published by on-chain analytics firms such as Glassnode show behaviors among long-term holders that look like past up-and-down swings. Demand from late-cycle buyers has softened in ways that mirror prior years, according to that research. It is being argued that halvings remain meaningful interruptions inside a longer trend, not irrelevant events. Macro observers add that broader economic forces—rates, fiat liquidity, and institutional appetite—are increasingly important in the price story. Related Reading: Shiba Inu Declared ‘Dead’—Unless This Game-Changer Arrives, Expert Says Investors should expect longer moves more often, with rallies stretching over more months and volatility generally lower, analysts say. Wood suggested volatility is falling and that markets may already have hit a low a couple of weeks earlier. Featured image from Unsplash, chart from TradingView
Crypto markets lurched lower after the Federal Reserve delivered exactly what everyone said they wanted: the third straight 25bps cut to close out 2025. Santiment’s latest deep dive makes a simple, slightly uncomfortable point: retail treated it as a green light, whales treated it as exit liquidity. Bitcoin shortly rallied to $94,044, Ether surged to $3,433, XRP hit $2.10 and Solana managed to reach $142, but the momentum was short-lived. The BTC price fell by more than 5% at one point, ETH even fell by more than 8.5%. What Caused The Crypto Market Plunge? On 11 December, the FOMC confirmed another quarter-point reduction, completing what Santiment calls the “trifecta of cuts at the end of 2025.” Lower rates mean cheaper borrowing, more risk-taking, and—on paper—a friendlier backdrop for crypto. The Fed still describes an economy growing at a “moderate” pace with inflation above target, and in both the October and December meetings it cut because “the balance of risks (like slowing job growth) supported easing policy.” Related Reading: Will The Crypto Market Benefit From The Trump Fed Takeover? The key shift is liquidity. On 29 October, the Fed decided to slow the reduction of its securities holdings from 1 December, easing the pace of balance-sheet runoff. By 10 December, it went further, saying bank reserves had fallen “too much” and announcing renewed purchases of short-term Treasury bills to keep reserves “ample.” That is a move from shrinking the balance sheet to quietly adding money back into the system. As Santiment notes, the Fed is still data-dependent but clearly more willing to lean dovish to protect financial conditions. Markets, however, front-ran the story. Prediction platform Polymarket showed an “overwhelming amount of optimism” in the hours before Jerome Powell spoke. At the same time, on-chain data flagged abnormal activity: @DeFiTracer spotted a whale selling roughly 100 million dollars’ worth of Bitcoin within an hour, triggering “a healthy mix of sensationalized panic.” The expected outcome—another cut—arrived, but positioning around it was anything but balanced. Bitcoin’s price reaction looked bullish at first. BTC spiked to about $94,044 after the announcement. Yet Santiment’s social data shows that the positive-versus-negative commentary ratio for Bitcoin had already peaked well before Powell’s remarks. The crowd’s emotional high came in anticipation; when the actual rally hit, traders were “quite modestly reactive” despite the move to 94K. Sentiment was spent. Ethereum was worse. Over the same 24-hour window, ETH surged to around $3,433, and the positive comment ratio “was a LOT more interesting.” Santiment describes “a lot of FOMO after a mini surge immediately after Powell spoke,” with many traders who bought the breakout “eventually [getting] burned when ETH fell back down to 3,170.” It is the textbook “buy the rumor, sell the news” pattern: bullish macro headline, short-term bearish price action, retail buying the spike while larger holders “gladly” offload into the mini-rally. Related Reading: Crypto Market Structure Talks: Senator Lummis Addresses Latest Legislation Plans Structurally, though, the report is not outright bearish. Year-to-date, Santiment notes, Bitcoin is down about 3.6%, versus a 17.6% gain for the S&P 500 and a striking 61.1% for gold. “It’s quite the dramatic difference,” the team writes, arguing that “a regression to the mean for BTC would be justified.” With three cuts now locked in and reserves being topped up via T-bill purchases, the “catch-up” case for crypto versus equities and metals “becomes even stronger.” Historically, crypto “has reacted later than equities or commodities when macro trends shift.” On-chain, so-called smart money appears to be acting as if that delayed reaction is coming. Wallets holding 10–10,000 BTC have added 42,565 Bitcoin since 30 November. What is “still [remaining],” Santiment says, is “a notable dump from retail, which would be indicative of the perfect recipe for a major bull run.” For now, they expect smaller traders to “run on fumes from this positive news of rates getting cut, for at least a couple of days.” The bottom line of the report is deliberately sober. The final FOMC decision of 2025 “reinforces a narrative of gradual easing, improving liquidity, and a cautiously supportive environment for risk assets.” After a rough year, “ending the year with three consecutive rate cuts from the Fed is a strong sign.” If inflation drifts toward target and economic data stays stable, Santiment argues, 2026 could finally give digital assets “the breathing room they’ve been waiting for.” Just do not confuse that with an invitation to chase the first post-Fed spike—because, as this week just reminded everyone, that is still where crypto tourists go to get burned. At press time, the total crypto market cap was at $3.04 trillion. Featured image created with DALL.E, chart from TradingView.com
Strategy, formerly known as MicroStrategy, has expressed strong opposition to a proposal by the Morgan Stanley Capital International (MSCI) to exclude digital asset treasury companies (DATs) from its indexes. Calls For Fair Treatment Of Digital Asset Companies In a recent letter signed by Michael Saylor and the firm’s CEO Phong Le, Strategy highlighted its support for MSCI’s efforts to establish consistent eligibility criteria across its indices. However, the company criticized the proposed threshold for excluding firms with more than 50% digital assets on their balance sheets, calling it “misguided.” The company argued that this measure could have negative implications not only for Strategy’s operations but also for the broader cryptocurrency market. Related Reading: Expert Declares Bitcoin Has Reached Midpoint Of Bear Cycle: What Lies Ahead? Strategy emphasized that, unlike traditional investment funds, it maintains the operational agility to adapt its value-creation strategies in tune with the evolving technology underlying Bitcoin. The firm asserts that this flexibility is a critical asset for investors and distinguishes Strategy and other DATs from traditional digital asset investment vehicles. The firm likened its investment approach in a singular asset class to that of real estate investment trusts (REITs) or oil companies, stating that MSCI categorizes those entities correctly without labeling them as investment funds. Therefore, it argued, DATs should be afforded similar treatment. ‘Discriminatory And Arbitrary’ The letter criticized the proposed 50% digital asset threshold as “discriminatory and arbitrary,” suggesting that it imposes uniquely unfavorable conditions on digital asset companies while allowing other industries—like oil, timber, and real estate—to maintain concentrated asset holdings without similar scrutiny. Strategy raised concerns that enforcing this rule would necessitate MSCI to create new methods for measuring balance sheet concentration, complicating the indexing process unnecessarily due to varying accounting principles across asset classes and jurisdictions. Additionally, Strategy elaborated on how the exclusion of DATs could substantially inhibit innovation within the digital asset industry, which the current administration strongly promotes as part of its economic strategy. The company said that digital assets like Bitcoin have the potential to become foundational elements of global financial systems, but the proposed measures could limit access to these transformative technologies for pension plans and 401(k)s, ultimately redirecting billions away from the sector. Strategy cautioned that a hasty exclusion of DATs could be based on misconceptions about their business models, asserting that it reflects a misunderstanding of the nature of these entities. The firm advocated for a more measured approach similar to MSCI’s past handling of the “Communication Services” sector, which underwent extensive consultation and a thorough review before reorganizing traditional telecom, media, and internet companies. Strategy Urges MSCI To Reconsider If implemented, Strategy warns that MSCI’s proposal could lead to the delisting of numerous companies heavily involved in digital assets. JPMorgan analysts estimate that Strategy alone might face liquidations of up to $2.8 billion as a direct consequence of this exclusion. Such a move is also expected to potentially distort market dynamics by incentivizing Bitcoin miners to sell their assets immediately instead of holding them as part of their business strategy. Related Reading: Ethereum Price Climbs Toward $3,300 For The First Time Since November: What’s Driving The Surge? In light of these concerns, Strategy urged MSCI to withdraw the proposal for excluding companies with over 50% digital asset holdings from its Global Investable Market Indexes. The firm asserted that the proposal is rooted in a flawed understanding of DATs and would impose conditions unaligned with national interests, particularly those advocating for the responsible growth of the digital asset space. As of this writing, the company’s stock, trading under the ticker symbol MSTR, is trading at $185. There has been almost no difference since Tuesday’s trading session amid consolidating crypto prices. Featured image from DALL-E, chart from TradingView.com
A noted Bitcoin adviser has warned that Shiba Inu faces an uphill climb unless it retakes a prior support band, a call that has stirred debate across crypto social channels. Related Reading: Institutions Scoop Up 9,000 Ether, Fueling Bullish Signals According to posts by BingX Bitcoin adviser Nebraskan Gooner, the token must return above a horizontal region he marked between $0.000014 and $0.00001 to avoid a “dead” outlook. Key Support Level Under Scrutiny Gooner’s chart points to a multi-year zone that once acted as firm support. Reports show SHIB touched that band and later surged to about $0.000045 in early March 2024. The importance of the area is highlighted by the token’s price action: it has spent much of Q4 2025 below that range, and at the time of reporting SHIB was trading around $0.000008618. That places the coin roughly 33–38% below the $0.000013–$0.000014 region that many traders watch as critical. $SHIB Dead unless it reclaims red. pic.twitter.com/LOllFuyPYv — Nebraskangooner (@Nebraskangooner) December 9, 2025 Technical Traders See Trouble Ahead Breaking a long-held support level often flips buying interest into resistance, and that scenario is what traders fear here. Based on reports from market commentators, a failure to climb back into the red band would make upward moves harder and likely sap momentum. Gooner used blunt language, saying “Dead unless it reclaims red” unless the token reclaims the zone. The phrase was repeated widely, feeding both bearish calls and pushback from supporters. Community Response And Roadmap Calls Across social threads, many users argued that SHIB is not unique; several altcoins appear stalled in the current phase. A number of holders said SHIB’s recovery chances may hinge on a wider altcoin rebound, sometimes called altcoin season. According to Zach Humphries, members of the Shiba Inu project must refocus every ecosystem initiative around SHIB, reposition the token to attract renewed retail interest, and publish a clear, actionable roadmap to restore earlier momentum. Bitcoin’s Role In A Possible Comeback Some analysts pointed to Bitcoin as the likely spark for any broad recovery, expecting the alpha coin to rebound toward $125,000 from around $90,000, while others have projected a new peak near $150,000 in 2026. If Bitcoin climbs above $100,000, traders say speculative flows could return and lift meme tokens including SHIB. Related Reading: NFT Slump Worsens With Monthly Sales Hitting Rock Bottom Price Snapshot And What Comes Next Short-term price moves show SHIB up 0.95% in the past 24 hours but down 4.8% over the last week. Many market observers emphasize that a return into the highlighted $0.000014–$0.00001 area would improve technical odds for a rally. At the same time, others warn that even with historical liquidity and a large community, reclaiming a broken support is often difficult and can take time. The coming weeks will likely test whether market-wide momentum or renewed project direction can change SHIB’s path. Featured image from Unsplash, chart from TradingView
Michael Saylor, executive chairman of Strategy, told attendees at Binance Blockchain Week that the wall of skepticism inside big banks is breaking down faster than he once expected. Related Reading: All-In On XRP: Why This Leading Investor Sold His Entire Bitcoin Stack He said he had thought it might take four to eight years for major financial firms to move fully into Bitcoin. Now, he says, that timeline is compressing and the shift is visible right away. Banking Giants Reverse Course According to Saylor, the past 12 months have seen heavy hitters — including Citibank, BNY, Bank of America, PNC, JPMorgan, Wells Fargo and Vanguard — shift from hostility to a more welcoming stance on crypto. Reports have disclosed that Vanguard has enabled clients to trade ETF shares linked to XRP and Bitcoin through its platform. Saylor added that internal plans are in motion at several institutions to roll out custody services and credit lines tied to crypto holdings. Loans Backed By Bitcoin Based on Saylor’s remarks, Charles Schwab is preparing to offer Bitcoin custody and to extend credit against BTC as soon as next year, and Citibank is said to be moving in a similar direction. He recalled earlier struggles to secure bank loans using Bitcoin as collateral and said lenders have flipped their approach within roughly six months. According to him, eight of the top 10 US banks are now issuing credit backed by Bitcoin, a claim that highlights how quickly attitudes appear to be changing inside the industry. Political Climate Could Be Speeding Things Up Saylor pointed to policy shifts under US President Donald Trump as a factor that has encouraged banks to leave the sidelines. Many firms were already experimenting with blockchain years ago — Goldman Sachs, for example, issued one of the first Bitcoin-backed loans in 2022 — but a friendlier regulatory tone, he said, has accelerated planning and product development. Still, banks face legal, operational and risk hurdles before these services reach broad retail customers. Markets Watching Fed Announcement Meanwhile, traders and analysts are watching the Federal Open Market Committee. The Fed is expected to cut rates by 0.25%, bringing the target to 3.5%–3.75%, a move that often boosts risk assets like Bitcoin. Volatility is likely around the announcement, and some market players warn that early rallies can reverse quickly when the Fed provides forward guidance. Related Reading: NFT Slump Worsens With Monthly Sales Hitting Rock Bottom Technical Signals And Sentiment Bitcoin’s own moves were discussed alongside the banking story. The crypto fear gauge hit 10 this week, signaling extreme fear, and price rebounded from $86,700 to roughly $92,300. One analyst flagged resistance near $94,200 and suggested a clean breakout could open a path toward $103,000. Another observer noted Bitcoin has lagged the Nasdaq’s recovery, a divergence that could work in either direction if markets shift. Featured image from The Information, chart from TradingView
In a move that could signal a bullish shift for Bitcoin (BTC) and the broader cryptocurrency market, the Federal Reserve (Fed) announced a 25 basis points (bps) interest rate cut, bringing the new rate range to 3.5% to 3.75%. Bitcoin Poised To Surge Toward $100,000? Kevin Hassett, the White House economic adviser and a leading candidate to become the next Fed chair, commented to the Wall Street Journal CEO Council that there is “plenty of room” for additional interest rate cuts. He stated, “If the data suggests that we could do it, then — like right now, I think there’s plenty of room to do it.” Hassett, who is President Donald Trump’s preferred choice for the Fed chair position after Jerome Powell’s tenure concludes, has been critical of Powell for being “too late” in lowering rates. Related Reading: Crypto Market Structure Talks: Senator Lummis Addresses Latest Legislation Plans While the last rate cut in October had minimal impact on the Bitcoin price, analyst Michael van de Poppe believes that the current rate cut could significantly benefit the cryptocurrency. He characterized it as a “great move” for Bitcoin and noted that a breakout above $92,000 might be indicative of future bullish momentum. Van de Poppe expressed optimism about Bitcoin’s ability to maintain the support level between $91,500 and $92,000, suggesting that if it does, there could be a pathway for Bitcoin to approach the $100,000 mark. Can BTC Avoid Historical 10% Decline? Market expert Ash Crypto pointed out that historically, each of the last four times the Fed slashed rates by 25 bps, Bitcoin experienced a 5% to 10% decline shortly thereafter. Despite this pattern, Ash noted that the current market setup differs from previous scenarios, suggesting that different dynamics could be at play. Related Reading: Ethereum Price Climbs Toward $3,300 For The First Time Since November: What’s Driving The Surge? Several positive factors underpinning this optimism include the conclusion of quantitative tightening (QT) after a three-year period. Should Powell hint at the possibility of quantitative easing (QE) in his forthcoming remarks, it could spur a further bullish trend in the market. Additionally, with this being the third rate cut, Ash asserted that there is potential for increased liquidity to flow back into the markets, which historically benefits risk assets like Bitcoin. Featured image from DALL-E, chart from TradingView.com
A Polymarket contract asking whether President Donald Trump will declassify UFO files in 2025 sat at 5.5% on Dec. 6. The next day, it rocketed toward 90%. The trigger wasn’t a White House announcement or a Pentagon press conference, but likely a resolution proposal filed with UMA Protocol, the decentralized oracle that settles Polymarket’s disputes. […]
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Bitcoin climbed to a three-week high on Tuesday before slipping back, a move that has traders and analysts watching closely. Related Reading: NFT Slump Worsens With Monthly Sales Hitting Rock Bottom According to TradingView data, Bitcoin price topped out at $94,600 late in the session — its highest level since November 25 — then eased to about $92,450 at the time of reporting. Santiment, a blockchain analytics firm, said social chatter calling for “higher” and “above” exploded during the spike, but market action remained uneven. Bitcoin: Trader Frenzy And Skepticism Reports have disclosed that the surge drew heavy retail attention and a flurry of social-media posts urging more buying. Some market watchers questioned how organic the rise was. A well-known long-term investor using the handle “NoLimit” told his 53,000 X followers that the $94,000 push looked engineered: big buys packed into a few minutes, thin order books, then little follow-through. ???? Bitcoin enjoyed a much needed rebound back to $94.6K today, reinvigorating traders, causing them to FOMO back in and expect higher prices. According to our social data scraping X, Reddit, Telegram, & other data, calls for “higher” & “above” exploded. ???? High bars indicate… pic.twitter.com/o3U3yWkwkk — Santiment (@santimentfeed) December 9, 2025 That pattern, he argued, is how larger traders can create short-term fear of missing out so they can sell into strength. Santiment also highlighted a behavioral twist: smaller traders appear to pile in after spikes, often leaving them on the wrong side of moves. Volatility followed the high, as prices pulled back by a couple thousand dollars within hours. Exchange order depth and timing of large blocks, analysts say, matter a lot when liquidity is shallow. Fed Decision Could Shift Momentum The US central bank meeting this week is a key wildcard. Market pricing on CME Group futures showed an 88% chance of a 0.25% rate cut, which many traders think helped fuel the rally. Yet some analysts warned that any sign of hesitation about future cuts could dampen risk appetite. Beyond US policy, next week’s potential Bank of Japan rate action is being watched because a tighter stance there could lift yields and pull capital back to Japan, tightening global liquidity. That kind of flow can pressure risky assets across markets. Liquidity, Institutions And The Bigger Picture Meanwhile, long-term holders pared back supply after a 36% correction from the all-time high, and some addresses now hold levels seen in March. Jessica Gonzales, an analyst cited in reports, said M2 money supply sits at about $22.3 trillion and stablecoin reserves remain elevated, suggesting there is capital around but not necessarily evenly distributed in markets. Institutional moves also feature: big firms such as BlackRock and Strategy have expanded crypto exposure, which could add a steadier buyer base — or simply shift where risk sits. Related Reading: Institutions Scoop Up 9,000 Ether, Fueling Bullish Signals What Traders Should Watch Short-term traders should track order-book depth, large trade clusters, and how price reacts to any Fed wording about future cuts. The next 25 days were flagged as especially important by several observers because liquidity swings and regulatory updates could flip the narrative fast. If a true broad-based bid forms, prices could move quickly. If the Fed signals caution, the opposite could happen. Featured image from Gemini, chart from TradingView
Bitcoin (BTC) trades at $92,900, up 4% on the day, as $150 billion flowed into the total crypto market cap, a 3% gain as of press time. The price briefly touched $94,600 before pulling back, capping a session that saw adoption news from traditional finance converge with macro easing expectations and forced liquidations of leveraged […]
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A sharp slowdown in buying pushed the NFT market back toward its weakest levels of the year, as weekly and monthly totals fell sharply and overall valuations continued to slip. Related Reading: All-In On XRP: Why This Leading Investor Sold His Entire Bitcoin Stack According to market trackers, trading activity cooled significantly in November and the first week of December, raising fresh questions about demand heading into year end. Sales And Volume Plunge NFT sales fell to $320 million in November, down from close to $630 million in October, CryptoSlam data shows. That level is roughly on par with the $312 million recorded in September 2024. Based on reports, the trend did not improve at the start of December: from Dec. 1–7, collections generated about $62 million in sales — the weakest weekly total recorded so far in 2025. Market participants are being hit by lower turnover and fewer big trades. Market Cap Shrinks Dramatically CoinGecko data shows the sector’s market cap sits at $3.1 billion, which is down 66% from a January high of $9.2 billion. Reports have disclosed a steep month-to-month swing as well: values dropped from $6.6 billion in October to $3.5 billion in November, a fall of 46% in roughly 30 days. There was a brief uptick on Nov. 11 when market cap moved from $3.5 billion to nearly $4 billion during a memecoin-driven surge, but the recovery was short-lived and the market cap later retreated back to $3.1 billion. These moves show that prices are still volatile and driven by bursts of speculative interest. Blue Chips Mostly Lose Ground Top collections were not immune. Based on reports, CryptoPunks fell about 12% over the past month. Bored Ape Yacht Club slid 8.5%, while Pudgy Penguins dropped 10.6% in the same period. Art-focused blue-chip works also fell: Chromie Squiggle lost 5.6%, Fidenza declined 14.6%, Moonbirds went down 17.9% and Mutant Ape Yacht Club slipped 13.4%. The biggest fall among major names came from Hypurr, which dropped 48%. Two Collections Show Gains Not every project followed the downward path. Infinex Patrons posted almost 15% rise in the last 30 days, and Autoglyphs outperformed the top ten with a 21% gain. These outliers were lifted by collector interest, and in some cases by the projects’ small supply or unique on-chain history. Still, such gains remain the exception rather than the rule. Related Reading: Institutions Scoop Up 9,000 Ether, Fueling Bullish Signals Outlook As Year Ends The weak start to December suggests the pullback could continue into the close of the year. Liquidity is thinner now, and short-lived rallies driven by other crypto market events have failed to create lasting momentum. Prices were pushed down across a wide set of collections, and trading volumes have not shown a sustained recovery. Featured image from Unsplash, chart from TradingView
On Tuesday, the Ethereum price experienced a notable surge, climbing by 6.5% and reclaiming the critical $3,300 mark for the first time in nearly a month. This has allowed Ethereum to outpace its peers among the top ten cryptocurrencies by market capitalization, showcasing a nearly 12% recovery for the leading altcoin over the past week. ETH Grows In Demand Analysts from Bull Theory attribute this resurgence to several key factors, including significant institutional interest in Ethereum. The firm highlighted BitMine, which holds the largest public company collection of ETH, as a major player in this recovery phase. In a recent social media update on X (formerly Twitter), the analysts pointed out that demand for ETH is on the rise as Wall Street quietly builds on the Ethereum platform. Related Reading: Crypto Market Structure Talks: Senator Lummis Addresses Latest Legislation Plans Notably, major financial institutions are beginning to make substantial moves in the Ethereum space. BlackRock, which manages $13.5 trillion, is launching tokenized funds and has filed for a staked Ethereum exchange-traded fund (ETF). Other notable players include JPMorgan with $4 trillion in assets, Deutsche Bank at $1.1 trillion, and Standard Chartered with $800 billion. These firms are developing tokenization and decentralized finance (DeFi) infrastructure specifically on Ethereum and its Layer 2 (L2) solutions. In addition, well-known financial entities such as Amundi, HSBC, BNY Mellon, Coinbase (COIN), Kraken, and Robinhood (HOOD) are incorporating Ethereum into their operations for functions like custody, settlement, and rollup infrastructure. As a result, these large companies are holding and staking ETH to generate yield, significantly increasing the altcoin’s demand. BitMine, for instance, anticipates earning over $400 million annually from its staking position. Could The Ethereum Price Hit $12,000? Such institutional involvement has led market experts like Tom Lee to speculate that the Ethereum price could potentially reach $12,000 by 2026, driven by growing staking demand and the scaling of tokenization efforts. Adding to the momentum, Arkham reported that Tom Lee’s Ethereum treasury firm acquired 138,452 ETH since last week, valued at approximately $431.97 million. BitMine currently holds $12.05 billion in ETH and has an additional $1 billion allocated for further purchases. Related Reading: Wall Street Giant Bernstein Predicts Bitcoin Price To Hit $1 Million By 2033 In a different development that could bolster the Ethereum price further, Chris MacDonald, an analyst for The Motley Fool, highlighted reports indicating that the Office of the Comptroller of the Currency (OCC) confirmed US banks can now legally conduct “riskless principal” transactions in crypto assets. The analyst asserted that this new regulatory approval may lead to an influx of capital into digital assets, which would likely benefit the Ethereum price and holders, as well as other top cryptocurrencies. As of this writing, the Ethereum price is trading at $3,325. Despite recent gains, the price is still nearly 33% below the all-time high of $4,946, which was reached earlier this year. Featured image from DALL-E, chart from TradingView.com
During what many anticipated would be the year of a major Bitcoin (BTC) bull run, market expert Axel Adler has revealed that the leading cryptocurrency finds itself at the midpoint of a bear cycle. A Mild Bear Cycle Compared To History As of now, Bitcoin has recorded a modest year-to-date decline of 4%. However, the cryptocurrency has shown some stability this week, consolidating in the range of $89,000 to $94,000, with the latter figure serving as immediate resistance. According to Adler, this current correction, which stands at approximately -32%, is considered less severe compared to previous bear cycles. He emphasizes that approximately 88% of Bitcoin holdings remain in unrealized profit, while only about 12% of the total supply is currently at a loss. Adler points out that Bitcoin’s price action has remained relatively steady within the $90,000 zone, reflecting a mild drawdown in historical context. Related Reading: Shiba Inu’s Volume Explosion: Leading Meme Coin Barrels Ahead In This Metric The crucial question as the year approaches its end is whether this correction will stabilize between -35% and -40% from its all-time high, indicating a new, more “flattened” cycle, or if the market will follow historical trends that typically lead to deeper declines of -60% to -70%. Analyzing past cycles, Adler notes that major bear markets in 2011, 2016, 2019, and 2023 were characterized by a significant increase in the percentage of coins at a loss, often rising to around 60%. These levels typically marked capitulation points in the market. In contrast, the current landscape shows only 12% of holders experiencing unrealized losses, which diverges sharply from the patterns observed during past bear markets. Can Bitcoin Avoid Deeper Declines? The expert further noted that during recent local cycle peaks, only about 17% of coins were in the red, a figure that remains three to four times lower than traditional capitulation levels. This unusual configuration suggests that the current market may resemble a correction within a bullish supercycle rather than the final downturn of a full-blown bear market. Adler believes that the market appears to be testing the resilience of this correction structure, which stands at -32% from its peak, while maintaining a high ratio of profitable positions. Related Reading: Pundit Highlights The Condition That Will Trigger A 2,300% XRP Rally To $50 He argues that if Bitcoin can sustain this maximum drawdown above the -35% zone alongside moderate unrealized losses, it could bolster the case for a shift towards more “flat” corrections influenced by institutional demand and a structural supply deficit. On the contrary, should Bitcoin’s correction extend beyond the -40% mark, the likelihood of entering a classic bear market increases significantly. Such a scenario would pave the way for deeper declines, potentially reaching the -60% to -70% range, and could trigger a full capitulation phase in terms of unrealized loss metrics. At the time of writing, the market’s leading cryptocurrency is trading at $93,000, marking gains of 5% and nearly 9% in the 24-hour and 14-day time frames, respectively. Featured image from DALL-E, chart from TradingView.com
The prospect of a “Trump Fed takeover” is rapidly becoming a central macro theme for 2026, with some traders arguing that markets still underestimate how radical the shift could be for global liquidity – and by extension for crypto. Macro commentator plur daddy (@plur_daddy) describes it bluntly via X: “The Trump Fed takeover being underpriced is my primary theme going into 2026 (hence my gold bet). This is a momentous shift: the bigger and more convex the catalyst, the more difficult it is for markets to price it in properly.” Former Fed trader Joseph Wang known as “Fed Guy” echoes the concern from inside the plumbing, warning: “The market underestimates the likelihood of a Trump Fed. The Administration is showing resourcefulness and determination for lower rates. That could set off the blow off top in equities, where implied vol shows speculation still has room to run.” The Trump Fed Takeover Isn’t Price In That determination is colliding with a bond market that appears to be pushing back via term premium. Plur highlights the spread between the 12-month T-bill and the 10-year Treasury as a clean gauge of that tension. He notes that the spread “peaked right before inauguration on the generic ‘Trump will run it hot’ viewpoint,” then “got crushed lower as DOGE and Tariffs got priced in.” It bottomed near the tariff lows and “is now back to the highs,” a pattern he reads as term-premium expansion as “a form of protest to [Kevin] Hassett,” Trump’s presumed Fed pick. Related Reading: Italy’s Market Watchdog Gives Crypto Firms A Clear Order: Act Or Exit Against that backdrop, the administration still has powerful tools to compress term premium without formally announcing quantitative easing. Plur identifies three levers. First, de-regulating banks so they are allowed – in practice, pressured – to hold more Treasuries, boosting structural demand for government paper. Second, reducing the Treasury’s weighted-average maturity by shifting issuance “to bills over longer dated notes,” which cuts the duration the market has to absorb. Third, specifically for mortgages, “lever up the GSEs to buy MBS,” narrowing mortgage spreads and transmitting easier policy to the housing market even if the policy rate moves more slowly. He argues that “all of these are quite bullish for risk overall but will take time to play out.” For now, the environment remains awkward for directional risk bets, including crypto. “In the meantime, it has been a choppy and difficult market, across the board. Equity indices have grinded higher but the underlying rotations have been tricky to navigate. QT ended but liquidity is still relatively thin, and the fact that we are going into year end does not help. Better times will come.” The bullish pivot in his framework arrives with the calendar. “In the new year, fiscal accommodation will re-expand on the implementation of OBBBA (+$10–15bn/mo). Meanwhile we have sell-side macro teams calling for $20–45bn/mo in T-bill repurchasing by the Fed, as soon as Jan 1.” Related Reading: 75% Chance Crypto Is ‘Crossing The Chasm’ Now, Says Moonrock Capital Boss This mix would directly ease pressures visible in funding markets: “This would go a long way towards easing the current liquidity issues (see the SOFR–IORB spread chart below). This is not classic QE in that there is very little duration being absorbed from the private sector, and mainly has the effect of expanding bank reserves. This is still bullish because bank reserves are tight at the time, which is tied to the repo liquidity issues.” Will The Crypto Market Rise Again? On that basis, Plur expects the macro backdrop in 2026 to look “better than H2 ’25 has been, perhaps more on par with parts of 2024.” His expression of the trade is clear: “This should be enough for strong performance on gold given the Fed takeover angle, and continued melt-up in equities and select commodities.” For Bitcoin and the broader crypto market, however, his stance is notably more cautious. “For BTC it is more difficult to say. My base case continues to be a frustrating period of chop and re-accumulation.” Improved liquidity “should be favorable for BTC,” but he questions whether there will be “a material shift in the supply/demand imbalances we have been seeing,” concluding: “I will keep watching it for now.” In other words, the Trump Fed trade is already driving high-convexity bets in gold, equities and commodities. Crypto stands to benefit indirectly from easier reserves and lower term premium, but in this framework, the key constraint is no longer just macro liquidity – it is whether fresh demand is strong enough to meet an increasingly inelastic supply in the crypto market. At press time, the total crypto market cap stood at $3.05 trillion. Featured image created with DALL.E, chart from TradingView.com
Ethereum saw a flurry of big moves that traders say could matter for its next price swing. In just a few hours, major accounts pulled large sums off an exchange and big wallets opened sizable margin longs. Market watchers are parsing those moves for clues. Related Reading: All-In On XRP: Why This Leading Investor Sold His Entire Bitcoin Stack Institutions Shift Big Stakes According to Arkham Intelligence, Amber Group and Metalapha pulled out 9,000 Ether from Binance in a short span, a haul worth more than $28 million at current prices. Based on reports, institutional flows have been heavy for months — nearly 4 million ETH has been accumulated by institutions over five months. Those kinds of transfers are often linked to custody setups or long-term holdings rather than quick trades. Whales Add Margin Bets Several large wallets added roughly $426 million in margin long exposure. Wallets named 1011short and Anti-CZ are among the accounts that expanded long bets. That kind of activity raises the chance of sharper moves in either direction: if prices rise, longs can feed a rapid upswing; if a pullback hits, forced selling could amplify losses. Market structure is tighter now than it was several months ago. ???? INSTITUTIONS ARE ACCUMULATING $ETH ~ QUIETLY. In the last few hours: • Amber Group withdrew 6,000 ETH ($18.8M) from Binance • Metalapha withdrew 3,000 ETH ($9.4M) That’s 9,000 ETH pulled off exchanges in a single morning. This is the same pattern we’ve seen for weeks:… pic.twitter.com/MBgyXoPfJz — BMNR Bullz (@BMNRBullz) December 8, 2025 Available Supply Shrinks On-chain data shows only 8.7% of ETH is currently held on exchanges. More than 28 million ETH is locked up in staking, custody, and what reports call long-term storage. Staking inflows remain high, with over 40,000 ETH added per day on average. Less supply on exchanges can lower immediate selling pressure, making price swings more dependent on fresh buy orders. Price Range And Key Levels Ethereum has gained 2.5% in the last 24 hours and is trading near $3,050. According to an analyst’s chart, ETH has been moving inside a tight range between $3,050 and $3,200, with $3,100 acting as a support line. Traders say a clear break above the $3,300–$3,400 band could open the way toward $3,700 to $3,800. Failure at that resistance would likely push prices back toward $3,000, where buyers may step in again. Related Reading: Banking Meets Bitcoin: French Banking Giant Offers Crypto To Millions Regulatory Step Could Matter In a related development, the US Commodity Futures Trading Commission has launched a pilot that allows Ethereum, USDC and Bitcoin to be used as collateral in regulated derivatives venues. Acting Chair Caroline Pham unveiled the plan in Washington and said the move will let regulators observe how tokenized collateral behaves in stressed conditions. The program sets rules for custody, segregation, and valuation tests inside a controlled environment. Featured image from Unsplash, chart from TradingView