Market Signal Briefing

The roadmap focuses on Aave V4, Horizon, and Aave App as Aave exits SEC scrutiny.

Aave founder and CEO Stani Kulechov on Tuesday outlined a master plan for 2026, wherein he detailed how Aave Labs intends to scale the protocol into a core piece of global on-chain financial infrastructure through three main initiatives: Aave V4, Horizon, and the Aave App.

According to Kulechov, Aave V4 will introduce a complete redesign of the lending protocol, in a bid to address liquidity fragmentation and significantly expand capacity.

The Three Pillars
The upgrade is expected to introduce a Hub and Spoke architecture, where Hubs of capital are deployed on each network, and specialized Spokes are built on top to support tailored lending markets for different asset types. The end goal is to support trillions of dollars in assets and position Aave as a primary liquidity provider for institutions, fintech firms, and enterprises seeking on-chain credit.

The company also plans to launch a new developer experience alongside V4. The tooling is intended to lower barriers for building applications and launching new markets on the protocol in 2026. Another central component of the roadmap is Horizon, which happens to be Aave’s institutional-focused market for real-world assets.

Horizon allows qualified institutions to use tokenized assets such as US Treasuries and other credit instruments as collateral to borrow stablecoins, while meeting compliance and operational requirements. Kulechov explained that Horizon has already reached approximately $550 million in net deposits and is expected to scale to $1 billion and beyond next year.

Aave Labs plans to expand Horizon through partnerships with asset managers and financial firms, including Circle, Ripple, Franklin Templeton, and VanEck.

The third pillar of the 2026 strategy is the Aave App, which Aave Labs described as its primary consumer-facing product and a major driver of user growth. A full rollout of the Aave App is planned for early 2026, and the firm is targeting its first million users through the product. Kulechov said the combined rollout of V4, Horizon, and the Aave App is intended to support Aave’s broader objective of becoming a global on-chain credit layer, which is capable of serving both institutional capital and retail users at scale.

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SEC Ends Probe Against Aave
Meanwhile, the master plan comes shortly after the US Securities and Exchange Commission (SEC) concluded its investigation into the Aave Protocol after four years. Kulechov confirmed the development and tweeted,

“This process demanded significant effort and resources from our team, and from me personally as the founder, to protect Aave, its ecosystem, and DeFi more broadly. DeFi has faced unfair regulatory pressure in recent years. We’re glad to put this behind us as we enter a new era where developers can truly build the future of finance.”

Interestingly, Aave is not the only platform cleared by the securities watchdog. The SEC closed multiple investigations that started under the Biden administration. This includes Gemini, OpenSea, Robinhood, and Uniswap, among others.

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Posted: December 21, 2025

Ethereum’s recent rebound attracted institutional and whale attention, with several large holders moving ETH to exchanges after the rally. The activity followed ETH’s sharp move higher after the Bank of Japan’s 25 basis point rate hike.

That behavior raised questions over whether large players expected near-term downside or were simply rotating capital after gains.

Crypto transaction tracker Onchain Lens reported on X that BlackRock deposited 36,579 ETH, worth about $108.4 million, into Coinbase over the past 24 hours.

The post also showed that BitMEX Co-Founder Arthur Hayes sent 680 ETH, valued near $2.03 million, to Binance, a move often associated with potential selling.

Whale activity often draws attention because large transfers can influence short-term price direction. Traders frequently track these wallets for clues around sentiment shifts or liquidity needs.

ETH price meets leverage build-up
At press time, Ethereum [ETH] traded near $2,980, up about 0.85% over 24 hours. Spot market participation, however, weakened during the same period.

Trading volume fell 52% to roughly $18.47 billion, suggesting limited conviction behind the move. That slowdown contrasted with derivatives positioning.

Even so, Open Interest rose 2.46% to $38.51 billion, indicating traders added leveraged positions despite muted spot activity. That divergence suggested positioning rather than organic demand drove recent price stability.

Range tightens as trend pressure persists
AMBCrypto’s technical analysis on the daily chart revealed that ETH was consolidating in a tight range between $2,790 and $3,000. Meanwhile, the broader market structure remains in a downward trend.

Source: TradingView

Based on the price action, a major rally in ETH would likely be possible only if it breaks out of this tight consolidation range.

If the broader trend continues and the price breaches and closes a daily candle below the $2,790 level, it could trigger strong downside momentum.

Conversely, if the trend shifts and the altcoin closes a daily candle above the $3,000 level, it could signal an end to the prolonged downward momentum.

Besides these key levels, the momentum strength indicator Average Directional Index (ADX) has reached 30.39, above the key threshold of 25, indicating a strong directional trend in the asset.

Meanwhile, the Chaikin Money Flow (CMF) has further reinforced the bearish outlook, as its value dropped to -0.05, signaling rising selling pressure and capital outflows from the asset.

Final Thoughts

Ethereum’s recent rebound attracted attention more for positioning than conviction.
Whale transfers and rising leverage suggested caution beneath the surface, leaving ETH at an inflection point.

Vivaan Acharya is a Crypto-Economist and Journalist at AMBCrypto who brings a rare depth of financial and economic expertise to the world of digital assets. He holds a Master’s in Economics from the prestigious University of Delhi and has over five years of experience analyzing technology and financial markets.
His foray into the blockchain space began in 2018, marked by his prescient Master's thesis, "Payments and Stablecoin Integration in Banking," which showcased his early understanding of crypto's potential to disrupt traditional finance. Before specializing in crypto, Vivaan honed his skills in rigorous data and technical chart analysis at a major national financial daily, where he covered corporate earnings and market trends.
At AMBCrypto, Vivaan applies this powerful blend of classical economic training and seasoned financial journalism to his work. He is an expert in:
1. Bitcoin and Altcoin Market Analysis
2. Stablecoin Ecosystem Development, and
3 Emerging Crypto Regulations.
Known for his clear, no-nonsense approach, Vivaan translates robust research into straightforward, actionable insights. He is dedicated to demystifying the complexities of blockchain finance, empowering readers to confidently navigate the rapidly evolving digital economy.

Ethereum developers are wasting no time after the successful Fusaka upgrade, which recently reduced node operating costs and improved overall efficiency. The community is already looking ahead to the next major protocol change, code-named Glamsterdam, a combined upgrade that targets both of Ethereum’s core layers and is expected to roll out in 2026.

The name “Glamsterdam” is a blend of two parallel upgrades. On Ethereum’s execution layer, where smart contracts and transaction logic run, developers are planning the Amsterdam upgrade. At the same time, the consensus layer, responsible for validator coordination and block finalization, will receive an update known as Gloas. Together, these changes aim to strengthen decentralization, reduce manipulation risks, and improve performance across the network.

One of the most significant proposals included in Glamsterdam is enshrined Proposer-Builder Separation (ePBS), tracked as EIP-7732. This proposal would integrate proposer-builder separation directly into Ethereum’s core protocol. Currently, Ethereum relies heavily on off-chain relays to separate block building from block proposing, which introduces trust assumptions and centralization concerns. With ePBS, block builders would construct and cryptographically seal blocks, while proposers would simply select the most profitable block without being able to inspect or alter its contents. Transactions would only be revealed after finalization, significantly reducing opportunities for MEV-related abuse such as transaction reordering or censorship.

Another key proposal expected to be part of Glamsterdam is Block-level Access Lists (EIP-7928). This change allows an entire block to declare in advance which accounts and smart contract data it will access. By enabling Ethereum clients to preload required data, block execution becomes faster, more predictable, and easier to optimize. Over time, this could help stabilize gas costs and provide a foundation for future scaling improvements.

Both proposals are Ethereum Improvement Proposals (EIPs), the formal mechanism used to coordinate and implement protocol upgrades. While the final list of EIPs has not yet been confirmed, developers are actively discussing additional changes. Although no exact launch date has been set, Ethereum developers have indicated that the Glamsterdam upgrade is likely to arrive sometime in 2026, marking another major step in Ethereum’s long-term roadmap.

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Bitcoin’s valuation is experiencing consolidation below the $90,000 threshold amid persistent selling pressures, evident as of December 2025. Market participants, particularly buyers, are striving to stabilize the asset around a mid-range value, but momentum appears subdued in broader timeframes. This market behavior is significant for investors and traders, as it reflects the caution exercised by institutional players in the cryptocurrency market.

On the technical front, analysis of the daily Bitcoin chart reveals a trading pattern confined within a descending channel that has emerged over recent months. Key resistance points are identified at the 100-day and 200-day moving averages, located around $103,000 and $108,000, respectively. These levels have acted as a ceiling for Bitcoin’s price during recent upward attempts, which have all remained within the channel.

A critical support level is established at $80,000, a zone that has been tested on two occasions. Should this level fail to hold, a subsequent significant demand area is anticipated around $72,000. The Relative Strength Index (RSI) is showing an upward movement from an oversold condition, indicating potential short-term bullishness; however, a clear reversal trend is not yet evident.

Further analysis on a 4-hour chart indicates that Bitcoin recently broke down from a rising wedge pattern seen earlier in December. While the price dipped below $90,000, there is an effort from buyers to regain ground, though this recovery currently lacks strong trading volume. The market structure remains predominantly bearish, highlighted by a rejection near $88,000, which has transitioned from a support to a resistance level. Failure by buyers to reclaim this area could lead to another test of the $80,000 support.

The RSI has shown recovery from its low points but remains below 60, which suggests limited bullish strength at this stage. The potential for further declines remains, particularly if Bitcoin does not manage to breach the $90,000 mark soon.

From a sentiment perspective, the Coinbase Premium Index continues to show negative values, illustrating ongoing selling pressure from U.S.-based institutional investors. This negative premium has been a persistent feature over recent months, underscoring the selling into price strength by large Coinbase account holders. The continuation of this trend without a reversal to a neutral or positive premium indicates that substantial upward movement in Bitcoin’s price is unlikely in the current macroeconomic environment.

Overall, the sentiment remains risk-averse, particularly from the perspective of U.S. institutional investors, who appear hesitant to increase their Bitcoin holdings aggressively. As this cautious stance prevails, it influences market dynamics and anticipates the support and resistance levels crucial for traders and investors.

Looking ahead, the market will watch for potential shifts in institutional sentiment and any changes in the technical indicators that could signal significant movements in Bitcoin’s price. The action in the coming weeks will be pivotal in determining whether the cryptocurrency can break free from its current trading patterns and what new ranges might emerge as a result.

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A debate on X (formerly Twitter) over whether Fundstrat analysts are sending mixed signals on bitcoin gained momentum over the weekend, drawing a response from the firm’s co-founder that appeared to support a more nuanced interpretation of the differing views.

The discussion was sparked by an X user known as “Heisenberg” (@Mr_Derivatives), who shared screenshots comparing comments attributed to senior Fundstrat figures. One screenshot highlighted remarks from Sean Farrell, Fundstrat’s head of digital asset strategy, outlining a base-case scenario in which bitcoin could retrace toward the $60,000–$65,000 range during the first half of 2026. Another contrasted this with recent public comments from Tom Lee, Fundstrat’s co-founder, suggesting bitcoin could reach new all-time highs, potentially as early as January 2026, with longer-term targets extending toward $200,000.

The juxtaposition quickly spread across X, prompting questions from crypto traders and investors about whether Fundstrat was offering contradictory guidance or unclear messaging to clients. Some users framed the difference in outlooks as internal disagreement, while others questioned whether such divergence was normal within an investment research firm.

That narrative was challenged by another X user, “Cassian” (@ConvexDispatch), who identified himself as a Fundstrat client. In a detailed post, Cassian argued that the debate was misleading and overlooked how Fundstrat’s analysts operate under different mandates rather than producing a single unified bitcoin forecast. According to his explanation, Farrell’s comments reflect a portfolio risk-management framework focused on drawdown risk, capital flows and investor cost bases, rather than a long-term bearish view on bitcoin.

Cassian added that Farrell had reduced crypto exposure in Fundstrat’s model portfolio as a defensive move, while remaining constructive on bitcoin’s longer-term adoption beyond early 2026. By contrast, Lee’s role was described as more macro-focused, emphasizing liquidity cycles, institutional adoption and the impact of exchange-traded products on bitcoin’s historical four-year cycle. Technical analyst Mark Newton was also cited as operating independently, basing his outlook strictly on chart patterns.

Lee appeared to endorse this interpretation by replying “Well stated” to Cassian’s post, a response widely viewed as tacit agreement that the differing bitcoin outlooks are not mutually exclusive. At the time of writing, bitcoin was trading near $88,283, modestly higher over the past 24 hours, alongside a similarly positive move in the broader crypto market.

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Large XRP holders are increasingly signaling confidence in the market, suggesting that current price levels may present an attractive accumulation opportunity. Recent on-chain data indicates a surge in whale activity, reinforcing a cautiously bullish outlook for XRP despite recent consolidation.

According to blockchain analytics, addresses holding between 100 million and 1 billion XRP have accumulated approximately 330 million tokens over the last 48 hours. At current market prices, this accumulation is valued at around $642 million, underscoring renewed interest from institutional-scale investors and high-net-worth holders. Rather than exiting positions amid price weakness, XRP whales appear to be capitalizing on lower valuations, a behavior often associated with expectations of future recovery.

Historically, whale accumulation during sideways or corrective phases tends to provide structural support for an asset. By absorbing available supply, large holders can reduce downside volatility and improve the likelihood of a sustained rebound once broader demand returns. This pattern aligns with previous XRP market cycles, where accumulation preceded notable upside moves.

Additional macro and on-chain indicators support this constructive narrative. XRP’s liveliness metric, which measures the movement of long-held coins, has declined steadily over the past week. A falling liveliness reading typically suggests that long-term holders are reducing selling activity and opting to hold instead. Even a temporary pause in distribution from these participants can help stabilize price action and create a more favorable environment for recovery.

At the time of writing, XRP is trading near $1.94, hovering just below a month-long downtrend resistance. The immediate upside level to watch is $2.02. A confirmed break above this threshold could signal renewed bullish momentum and potentially open the door for a move toward the $2.20 region, marking a clear breakout from the prevailing downtrend.

However, downside risks remain. If bullish momentum fails to materialize, XRP could retest support near $1.85, with further weakness exposing the $1.79 level. A decisive drop below that zone would invalidate the bullish outlook and reinforce short-term bearish pressure.

Overall, rising whale accumulation, declining selling pressure, and stabilizing on-chain metrics suggest that XRP may be positioning for its next significant move.

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Robert Kiyosaki warns the global economy is heading toward a crash driven by Federal Reserve rate cuts, rising inflation, and a weakening dollar, urging investors to prepare now by shifting into real assets and cryptocurrency.

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The price action of Bitcoin over the past week tells a perfect story of its performance this year. The premier cryptocurrency experienced incredible levels of volatility throughout the week, oscillating between the $90,000 and $86,000 range over the past few days.

The latest market evaluation shows that the future of the Bitcoin price might be looking bleaker than mere periods of sideways volatility. According to a prominent cycle, BTC’s price cycle has turned and is entering a bear market.

Bitcoin Cyclical Behavior Depends On Demand Cycles: CryptoQuant
In its latest market report, blockchain analytics firm CryptoQuant has associated the steady decline in Bitcoin price with the fading demand boom. According to data on the on-chain platform, the BTC demand growth has slowed down in the course of 2025, signaling the start of a bear market.

CryptoQuant highlighted that Bitcoin has witnessed three major spot demand waves—triggered by the US spot ETF launch, the US presidential election outcome, and the Bitcoin Treasury Companies bubble—since the bull cycle started in 2023. However, the demand growth has slowed down since early October 2025.

Unsurprisingly, this trend reversal for the demand growth coincides with the October 10 market bloodbath, one of the largest liquidation events in crypto history. The Bitcoin price has since struggled to mount any convincing recovery, falling to as low as $82,000 in late November.

Source: CryptoQuant
CryptoQuant went on to hypothesize that a key pillar of price support has been removed as most of this cycle’s incremental demand has already been realized. For instance, demand from institutional and large investors is in a downturn, with US-based Bitcoin exchange-traded funds (ETFs) turning into net sellers in 2025’s fourth quarter. 

According to CryptoQuant’s data, the US spot ETF holdings have declined by 24,000 BTC in Q4 2025, which is a far cry from the steady accumulation seen in Q4 2024. “Similarly, addresses holding 100–1K BTC—representing ETFs and treasury companies—are growing below trend, echoing the demand deterioration seen at the end of 2021 ahead of the 2022 bear market,” the blockchain firm added.

Besides the weakening spot demand, the Bitcoin derivatives market has also seen reduced activity and decreased risk appetite. CryptoQuant revealed that BTC’s funding rates have fallen to their lowest level since December 2023, an on-chain signal that suggests the reduced willingness of traders to maintain long exposure; this trend is often associated with bear markets.

Ultimately, the blockchain firm concluded that the Bitcoin four-year cycle hinges more on demand phases—expansions and contractions in demand growth— rather than on the halving event. In essence, a bear market tends to come after the BTC demand growth peaks and topples over.

What Next For BTC Price?
In its report, CryptoQuant revealed that the Bitcoin price structure has worsened in line with the demand weakness. The flagship cryptocurrency is currently trading below its 365-day moving average, a key long-term support level that has historically separated bull and bear phases.

According to CryptoQuant, the downside reference points suggest that the Bitcoin bear market might not be as deep as feared. As in previous bear seasons, the realized price—currently around $56,000—has been identified as the potential bottom.

This implies a possible 55% correction from the latest all-time high, Bitcoin’s smallest drawdown on record (during a bear market). Meanwhile, the market leader has its intermediate support level around $70,000.

As of this writing, the price of BTC stands at around $88,170, reflecting a 3% jump in the past 24 hours.

The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Featured image from iStock, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Solana founder Anatoly Yakovenko has shared new data that shows Solana has outperformed Ethereum in yearly revenue, highlighting what he sees as a pivotal shift in how value may be distributed across the crypto market.

The infographics by DeFi Development Corp. show the projected chain revenue comparison of Ethereum and Solana. According to the analyses, Solana revenue is expected to reach $1.4 billion against $522 million by Ethereum.

Source: DeFi Development Corp/XIn another post on X, Yakovenko described the past year as “crazy” and questioned whether open, permissionless protocols can sustainably grow and maintain revenues over time. He argued that this challenge remains unresolved for much of the industry.

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Yakovenko said he believes the total cryptocurrency market capitalization will continue to expand, but added that it will eventually need to be “split by revenues,” rather than purely by narratives or speculation. In that context, he suggested that Layer-1 blockchains have a single clear path to long-term relevance.

“L1s’ only shot at this is in the execution layer,” Yakovenko wrote, adding that the most successful networks will be those that provide “global, decentralized, low-latency, high-throughput censorship resistance.”

It’s been a crazy year. Can open permissionless protocols actually grow and maintain revenues is still an open question.

I am a believer that the entire crypto mcap will continue to grow and eventually it will have to be split by revenues. L1s only shot at this is in the… https://t.co/J0A7UPJYSK

— toly 🇺🇸 (@aeyakovenko) December 20, 2025 The comments come amid growing debate over revenue generation and real economic activity across major blockchains, including Ethereum, as investors increasingly focus on fundamentals rather than usage metrics alone.

Solana institutional adoptionAccording to the American financier, a slew of large-scale companies of the likes of BlackRock, Blackstone, and JPMorgan could start using the network for transactions.  

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Earlier this month, Scaramucci predicted that Solana would be among the "big winners" when it comes to tokenization. He has publicly predicted that Solana could surpass Ethereum in market cap.

The data from Farside shows that the Solana ETFs have recorded nearly $700 million in cumulative flows since their emergence a few months ago. This rapid growth is not a surprise as the ETFs have been seeing strong demand since the launch of the first Solana 

Bitcoin (BTC) investors may need to temper their expectations as the cryptocurrency heads into its final bull run. Analysts indicate that the bull rally could unfold slowly, suggesting a gradual climb to new highs. Traders are being urged to prepare for heightened volatility and plan their strategies carefully to protect gains while staying positioned for potential upside. 

Slow Climb Expected In Bitcoin’s Final Bull Run 
A market expert who calls himself Crypto Waterman has shared his latest outlook on Bitcoin’s final bull run. He expects the last leg of the rally to be a slow and deliberate process rather than a sudden spike. According to him, the parabolic move could take roughly one to two months to complete, potentially unfolding during the first quarter of 2026.  

Crypto Waterman warns that before this final surge, there will likely be intense market pressure to push out inexperienced investors. This period could include sudden shakeouts and volatility designed to test retail traders’ resolve. He also stated that many investors may exit too early as euphoria builds, while others will become bag holders as prices climb rapidly. 

The analyst emphasized that smart wallets and BTC whales tend to sell into strength during this phase. For average investors, he suggests a careful strategy of dollar-cost averaging out of positions once gains become significant. Observing coins doubling in a single day could be an early signal to start reducing exposure. 

Crypto Waterman also shares his personal approach to profit-taking, which involves selling 25% of his holdings when the price doubles. If Bitcoin triples, he says that he would offload 30-40% and consider selling nearly everything if the market feels overheated. He also stated that he would leave a small portion, “a moonbag,” to capture any remaining upside potential. 

BTCUSD now trading at $88,252. Chart: TradingView
Analyst Warns Last Chance To Accumulate BTC
Crypto Waterman offers guidance for traders looking to position themselves ahead of Bitcoin’s anticipated parabolic move. He suggests that the next two to three weeks may be the last chance to accumulate Bitcoin before the rally begins. He also highlighted the importance of timing, recommending that investors buy Bitcoin during significant dips rather than chasing rising prices. 

The analyst has hinted at knowing the timing of the expected market shakeout, emphasizing that market conditions over the coming days will determine the exact moment it happens. He warns that traders should prepare for volatility and short-term price fluctuations. He also reminds investors to stay disciplined during periods of market euphoria. 

He shared that investors and traders should follow the “Warren Buffett” principle of being cautious when others are greedy and opportunistic when others are fearful. This strategy eliminates emotional decision-making in trading and investing, allowing holders to make rational moves as the Bitcoin market approaches its final bull phase. 

Featured image from Unsplash, chart from TradingView

When a fund keeps buying into a falling stock, it usually means it sees something the market is ignoring.

Massachusetts-based TFJ Management upped its stake in CCC Intelligent Solutions Holdings Inc., adding more than 590,000 shares and boosting its holding to approximately $12.46 million, according to a November 13 filing.

What HappenedAccording to a filing with the U.S. Securities and Exchange Commission dated November 13, TFJ Management added to its position in CCC Intelligent Solutions Holdings Inc. The fund reported owning nearly 1.4 million shares at quarter-end, reflecting a market value of $12.46 million. This addition brought CCC to 8.39% of TFJ’s reportable equity assets.

What Else to KnowTop holdings after the filing: 

NASDAQ: APP: $39.15 million (26.4% of AUM)NYSE: CPNG: $25.14 million (16.9% of AUM)NYSE: KAR: $17.80 million (12.0% of AUM)NASDAQ: CCC: $12.46 million (8.4% of AUM)NYSE: HGV: $11.13 million (7.5% of AUM)As of Friday, CCC shares were priced at $7.90, down 33% over the past year and well underperforming the S&P 500, which is up 16.5% in the same period.

Company OverviewMetricValuePrice (as of Friday)$7.90Market Capitalization$5.15 billionRevenue (TTM)$1.03 billionNet Income (TTM)($2.86 million)Company SnapshotCCC Intelligent Solutions offers a cloud-based SaaS platform supporting digital workflow, estimating, claims, and repair management solutions for the property and casualty insurance sector.The company serves insurance carriers, automotive repair shops, OEMs, parts suppliers, and related ecosystem participants in the United States and China.It leverages artificial intelligence and cloud technology to streamline operations and facilitate commerce across a complex network of industry partners.CCC Intelligent Solutions Holdings Inc. operates as a SaaS provider for the property and casualty insurance economy. The company leverages artificial intelligence and cloud technology to streamline workflows and facilitate commerce across a complex network of insurers, repairers, and automotive partners. CCC provides mission-critical solutions to key stakeholders in the insurance and automotive value chains.

Foolish TakeWhat matters for long-term investors is not the recent price action, but the size and persistence of this position. This is not a toe dip. At more than 8% of reported assets, this is now one of the fund’s core holdings, sitting alongside a handful of high-conviction names. That context matters because it suggests the volatility is not scaring the manager away. It is part of the thesis.

The disconnect is obvious in the numbers. In the third quarter, CCC Intelligent Solutions delivered revenue of $267.1 million, up 12% year over year, while adjusted EBITDA rose to $110.1 million, representing a 41% margin. Free cash flow reached $78.6 million for the quarter, and management lifted full-year guidance to as much as $1.056 billion in revenue and $428 million in adjusted EBITDA. The company also repurchased $44.9 million of stock during the quarter and has already used more than $217 million of its $300 million authorization year to date.

For patient investors, this is a stock the market cannot seem to agree on, but the business underneath continues to compound. Funds willing to sit through the swings are effectively betting that recurring revenue, entrenched customers, and cash generation eventually matter more than sentiment.

Glossary13F assets under management: The total value of securities a fund manager reports quarterly to the SEC on Form 13F.
Stake: The ownership interest or investment a fund or individual holds in a company.
Position: The amount of a particular security or asset held by an investor or fund.
Market value: The current total worth of an investment based on its latest trading price.
Reportable holdings: Securities that institutional investors must disclose in regulatory filings due to size or type.
Alpha: A measure of an investment's performance compared to a benchmark, showing value added or lost.
SaaS (Software as a Service): A software delivery model where applications are accessed online rather than installed locally.
Property and casualty insurance: Insurance covering property loss and liability for accidents, injuries, or damage to others.
OEM (Original Equipment Manufacturer): A company that produces parts or equipment used in another company's end products.
Mission-critical: Essential systems or processes whose failure would severely impact business operations.
Value chain: The full range of activities involved in creating and delivering a product or service.
TTM: The 12-month period ending with the most recent quarterly report.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool recommends Coupang. The Motley Fool has a disclosure policy.

Beyond those targets, the primary trend indicator—the 50-day moving average at $58.60—remains the dominant resistance marker for oil prices projections.

Sellers retain the advantage only if futures fall back below $55.87, which would shift attention toward Tuesday’s low at $54.89 and the longer-term $54.71 level.

Geopolitical Stressors Add Support as Venezuela Blockade Intensifies
Fundamental conditions leaned supportive as traders evaluated potential disruption from a U.S. effort to block Venezuelan tankers. The possibility of shipping constraints helped reinforce prices while markets awaited updates on Russia-Ukraine peace discussions. Analysts at Ritterbusch and Associates highlighted crude’s ability to hold above the week’s lows while traders track developments surrounding both the Venezuelan shipping situation and diplomatic negotiations.

U.S. Secretary of State Marco Rubio signaled that Washington is not concerned about tension with Russia regarding Venezuela, while President Donald Trump kept all options open. Venezuela authorized two unsanctioned cargoes to China, while several sanctioned tankers linked to Russia either stopped or redirected, according to tracking data. Additional U.S. sanctions on associates of Nicolas Maduro added expectations of tighter export enforcement from a nation supplying roughly 1% of global oil.

Ukraine Expands Strikes as Tensions Deepen Around Shipping
Ukraine’s first aerial drone strike on a Russian “shadow fleet” tanker in the Mediterranean underscored rising risks surrounding Russian oil movements. At the same time, European Union leaders approved a €90 billion loan package to support Ukraine’s defense. Russian President Vladimir Putin rejected compromise proposals and criticized the EU for attempts to seize Russian assets, dampening hopes for meaningful progress in peace efforts.

U.S. Output Signals Influence Oil Prices Projections
The U.S. rig count in the Permian Basin declined by three to 246—its lowest level since August 2021—raising concerns about future output. Reduced drilling activity adds a supportive element to oil prices forecast scenarios, particularly as geopolitical stressors elevate risk premiums.

These big-time dividend stocks have solid records of maintaining their payouts.

The dividend yield on the S&P 500 is currently near its all-time low at around 1.2%. However, many stocks offer much higher yields, including several with dividend yields in the double digits.

Here's a closer look at three stocks with monster dividend yields.

Image source: Getty Images.

AGNC Investment
AGNC Investment (AGNC +0.85%) currently yields 13.6%, more than 10 times higher than the S&P 500. The real estate investment trust (REIT) has a very straightforward investment strategy. It buys residential mortgage-backed securities (MBS) that are guaranteed against credit losses by government agencies, such as Freddie Mac. These pools of residential mortgages generate very low-risk, fixed-income returns for the REIT. AGNC increases its return potential (and risk profile) by investing in MBS on a leveraged basis primarily through repurchase agreements.

This strategy can be very lucrative. AGNC is currently earning a return on equity in the mid-to-high teens. That aligns with its cost of capital (dividend payments and operating costs). As long as these metrics remain in alignment, AGNC Investment can maintain its monthly dividend. The mortgage REIT has paid the same rate since early 2020.

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However, if market conditions deteriorate significantly in the future and cause its returns to fall short of its costs, the REIT might need to reset its dividend. It has had to do that several times over the years, including in 2020.

Delek Logistics Partners
Delek Logistics Partners (DKL +0.95%) currently yields 10.1%. The master limited partnership (MLP), which sends investors a Schedule K-1 Federal Tax Form each year, owns a portfolio of energy midstream assets, including pipelines, processing plants, and storage terminals. These assets generate predictable cash flow backed by long-term contracts.

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The MLP expects to generate enough cash to cover its monster payout by 1.3 times this year. That gives it a decent cushion while allowing it to retain some money to invest in expanding its operations. The company recently completed its Libby 2 gas processing plant and has expanded its water infrastructure through the acquisitions of Gravity and H2O Midstream.

Delek Logistics' growth investments have enabled it to steadily increase its distribution. The MLP recently extended its streak to 51 consecutive quarterly raises. It has the financial flexibility to continue growing its operations and payout in the future.

Ares Capital Corporation
Ares Capital Corporation (ARCC 0.99%) currently has a 9.6% dividend yield. The business development company (BDC) makes debt and equity investments in private companies. It has a diversified portfolio with investments in nearly 600 companies, comprising primarily secured loans (71% of its assets). The company has an exceptional investment track record, with a cumulative net realized loss of 0% since its inception.

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These investments generate interest and dividend income, which Ares distributes to investors through its quarterly dividend payments. The company has paid its current dividend rate since 2022. It has paid a stable or higher regular quarterly dividend rate for more than 16 straight years. The BDC has also periodically paid additional supplemental dividends from its excess income.

Ares Capital routinely makes new investments. It has deep relationships with banks and institutional capital providers, enabling it to routinely raise additional funding for new loans. It raised over $1 billion in fresh capital in the third quarter, providing it with ample dry powder to make new investments to support its dividend payments. It made $3.9 billion of new investment commitments during the third quarter across 35 new and 45 existing portfolio companies. The company also exited $2.6 billion of investments, giving it additional capital to invest in new opportunities.

Monster income stocks
AGNC Investment, Delek Midstream Partners, and Ares Capital currently offer big-time yields. These companies also have solid track records of maintaining (and in some cases increasing) their hefty payouts. While they are higher-risk investments, they could provide risk-tolerant investors with lots of income in the coming years.

Expense ratios, sector tilts, and liquidity set these Vanguard ETFs apart for investors weighing growth focus against broad exposure.

The Vanguard S&P 500 Growth ETF (VOOG +1.32%) and the Vanguard S&P 500 ETF (VOO +0.89%) both aim to capture U.S. large-cap equity performance, but VOOG narrows in on S&P 500 growth constituents, while VOO holds all S&P 500 names.

This match-up highlights key contrasts in cost, returns, risk, and portfolio makeup that could matter for investors deciding between growth concentration and broad-market exposure.

Snapshot (cost & size)MetricVOOGVOOIssuerVanguardVanguardExpense ratio0.07%0.03%1-yr return (as of Dec. 20, 2025)20.87%16.44%Dividend yield0.48%1.12%Beta (5Y monthly)1.101.00AUM$21.7 billion$1.5 trillionBeta measures price volatility relative to the S&P 500. The 1-yr return represents total return over the trailing 12 months.

VOO is more affordable with a lower expense ratio, and it also offers a higher dividend yield. VOOG, on the other hand, comes at a slight premium for its growth focus and recent outperformance.

Performance & risk comparisonMetricVOOGVOOMax drawdown (5 y)-32.74%-24.53%Growth of $1,000 over 5 years$1,945$1,842What's insideVOO tracks the S&P 500 Index, holding 505 companies and spanning all sectors of the market. Its top industries include technology (making up 37% of the fund), financial services (13%), and consumer cyclical (11%), and its top holdings are Nvidia, Apple, and Microsoft.

VOOG, in contrast, narrows the focus to S&P 500 growth stocks, resulting in a portfolio where technology dominates at 45% of assets, followed by communication services (16%) and consumer cyclical (12%). Its top positions match VOO's, but they make up a larger portion of the portfolio -- highlighting a heavier tech tilt.

For more guidance on ETF investing, check out the full guide at this link.

What this means for investorsVOO and VOOG are both fantastic ETFs for many investors, but their differences in goals and portfolio composition give each of them unique strengths and weaknesses.

VOO tracks the entire S&P 500, aiming to replicate the index's performance. While it does lean heavily toward the tech industry, it's less tilted than VOOG -- which can help minimize the volatility that tech stocks are known for.

VOOG is more concentrated, comprising only 217 stocks with higher growth potential. This narrower focus has led to higher total returns than VOO over the past 12 months and five years, but it's also resulted in steeper drawdowns and more significant price fluctuations.

The top three holdings are the same across both funds, but their allocations set them apart. VOO's top stocks combined make up 21.95% of total assets, while VOOG's make up 27.23%. This top-heavy tilt can make VOOG more lucrative when these stocks are thriving, but it can also lead to rougher downturns when they stumble.

Between the two, VOOG is the higher-risk, higher-reward ETF. Risk-tolerant investors seeking a growth ETF with a history of above-average earnings may prefer VOOG's concentrated growth strategy, while those looking for greater stability and diversification might opt for VOO instead.

GlossaryETF: Exchange-traded fund, a basket of securities traded on an exchange like a stock.
Expense ratio: The annual fee, as a percentage of assets, that a fund charges investors for management and operating costs.
Dividend yield: Annual dividends paid by a fund expressed as a percentage of its share price.
Growth stocks: Companies expected to grow earnings faster than the market average, often reinvesting profits instead of paying dividends.
Sector diversification: Investment spread across different industries to reduce risk from any single sector.
Liquidity: How easily an asset can be bought or sold in the market without affecting its price.
AUM (Assets Under Management): The total market value of assets a fund manages on behalf of investors.
Beta: A measure of an investment's volatility compared to the overall market; higher beta means greater price swings.
Max drawdown: The largest percentage drop from a fund's peak value to its lowest point over a specific period.
Total return: The investment's price change plus all dividends and distributions, assuming those payouts are reinvested.
Constituents: The individual stocks or securities that make up an index or fund.

Katie Brockman has positions in Vanguard Admiral Funds - Vanguard S&P 500 Growth ETF and Vanguard S&P 500 ETF. The Motley Fool has positions in and recommends Apple, Microsoft, Nvidia, and Vanguard S&P 500 ETF. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

Klarna Group (KLAR +0.98%) has established itself as a leading buy now, pay later (BNPL) fintech. The Swedish company's services continue to generate demand as people look to break down everyday purchases into small payments spread out over a few months. But Klarna hasn't fared well in the stock market so far. It's down by more than 30% since its September initial public offering (IPO).

It's not because of a defect with the stock specifically. For instance, fellow BNPL stock Sezzle is down roughly 20% from the price it had on Sept. 10, the same day of Klarna's IPO. Sezzle was also down by more than 40% from Sept. 10 to its October bottom.

While most people don't want to see their favorite assets lose value, buying Klarna could be a smart move for patient investors. Here are some of the factors that can help the BNPL stock outperform the S&P 500 next year.

Demand for the Klarna Card is accelerating

Image source: Getty Images

The Klarna Card came out in the U.S. on July 4 and has been a hot product ever since. It is just like a credit card, except you can decide if you want to pay the balance right away or break your purchase into small installments.

The card passed 1 million U.S. sign-ups in its first 11 weeks, and momentum has continued to build. By four months, the card had 4 million new sign-ups.

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The fintech company made that announcement while sharing third-quarter results, which were also positive. Revenue increased 28% year over year, while U.S. revenue in particular surged 51%.

The Klarna Card is one of the catalysts that boosted the company's U.S. revenue. It's still a new product, and Klarna says it has 114 million global active users, so it can still give out cards to plenty of its users.

The card has also received mainstream acceptance from businesses, with more than 850,000 retailers enabling BNPL purchases. This financial product should continue to be a tailwind in 2026 and beyond. It makes BNPL easier to access.

Many users came in Q3
That base of 114 million active users results in significant revenue and sets the stage for added growth, as Klarna told investors that it added 27 million new users in the quarter.

We don't know how many of those are considered active, and we also don't know how many total users Klarna has. However, if most of those 27 million users become active customers, and the fintech can continue to grow at that pace, its user base should expand meaningfully in 2026.

Active users aren't the only segment of the company that is growing quickly. It also added 235,000 new merchants and now has over 850,000. As more businesses accept Klarna as a payment method, more consumers will hear about the fintech and decide to give it a try.

Management's efforts to reach new users are working, and it's a big reason the company expects to exceed $1 billion in fourth-quarter revenue.

Could the BNPL industry collapse like a house of cards?
Some bears will argue that the BNPL industry will eventually collapse. High costs of living prompt people to look for ways to save money, and Klarna appears as a solution: Take any purchase and break it into four monthly payments.

However, it may cause people to live beyond their means and get deep into debt. Breaking trivial purchases into four payments may indicate financial vulnerability, and the BNPL model can exploit it. Eventually, the house of cards comes falling down when enough people can't keep up with the payments on top of regular expenses.

However, Klarna's data suggests that the bears are overexaggerating. Last year, the company said that it had a 99% repayment rate globally. It also told investors that it performs strict eligibility assessments before letting a purchase go through. Artificial intelligence helps with this part.

Some people pay late and end up with interest charges and other fees. That's a big part of how Klarna makes money. Still, the idea of the BNPL industry being unsustainable looks like a fantasy at this point. In the meantime, Klarna continues to deliver impressive results and seems like a promising growth stock heading into 2026.

The sale came even as the business kept firing, forcing a hard look at whether volatility or fundamentals were really driving the decision.

California-based Global IMC disclosed a significant reduction in its Sportradar Group AG (SRAD 0.26%) stake, trimming approximately $7.25 million in value, according to a November 14 SEC filing.

What HappenedAccording to a November 14 SEC filing, Global IMC LLC sold 253,168 shares of Sportradar Group AG (SRAD 0.26%) during the third quarter. The transaction, valued at about $7.5 million, reduced the stake to 118,389 shares, or $3.18 million. The move reflects ongoing fund liquidation, with the SRAD position falling from 45.2% to 13.5% of reportable assets.

What Else to KnowTop holdings after the filing: 

NYSE: KGC: $3.76 million (15.9% of AUM)NYSE: HBM: $3.54 million (15.0% of AUM)NASDAQ: TSEM: $3.45 million (14.6% of AUM)NASDAQ: IREN: $3.45 million (14.6% of AUM)NYSE: EGO: $3.33 million (14.1% of AUM)As of Friday, SRAD shares were priced at $22.86, up nearly 38% over the past year and well outperforming the S&P 500, which is up 16.5% in the same period.

Company OverviewMetricValueRevenue (TTM)$1.23 billionNet Income (TTM)$94.83 millionMarket Capitalization$6.77 billionPrice (as of market close Friday)$22.86Company SnapshotSportradar Group provides sports data services, software, and live streaming solutions to sports betting operators, sports leagues, and media companies worldwide.The company generates revenue through mission-critical data feeds, analytics, and technology platforms that support the full sports betting and media value chain.Primary customers include bookmakers, sports leagues, and international media organizations in Europe, the United States, and globally.Sportradar Group AG is a leading provider of sports data, analytics, and digital content solutions for the sports betting and media industries. The company leverages proprietary technology and a global network to deliver real-time data, risk management, and visualization services to its clients. With a diverse customer base and robust technology platform, Sportradar maintains a competitive advantage by offering comprehensive solutions across the sports data ecosystem.

Foolish TakeWhat matters for long-term investors is not the size of the trim, but how dramatic it was. This position went from being the fund’s defining holding to a much smaller line item in a single quarter, a move that says more about portfolio mechanics than sudden loss of faith. When a fund is liquidating and reallocating capital, even strong performers can get caught in the crossfire..

The irony is that the fundamentals have looked solid. In the third quarter, Sportradar Group reported revenue of 292 million euros, up 14% year over year, while adjusted EBITDA jumped 29% to 85 million euros, pushing margins to a record 29%. Free cash flow came in at 65 million euros, customer net retention hit 114%, and management raised full-year revenue guidance to at least 1.29 billion euros. The company also expanded its share repurchase authorization to $300 million, reinforcing confidence in cash generation.

It’s important to remember that stocks like this can deliver strong numbers and still trade violently when ownership changes. A fund selling does not negate the business. It does, however, remind you that volatility cuts both ways, and position sizing matters just as much as conviction when the tape gets choppy.

Glossary13F AUM: The total value of assets a fund manager reports on SEC Form 13F, covering certain U.S. securities.
Fund liquidation: The process of selling off a fund's assets, often to return capital to investors or close the fund.
Net position change: The difference in the number or value of shares held before and after a transaction.
Reportable assets: Assets a fund manager must disclose in regulatory filings, such as those listed on Form 13F.
Stake: The ownership interest or investment a person or entity holds in a company.
Outperforming: Achieving a higher return or better performance than a benchmark or index.
Value chain: The full range of activities involved in creating and delivering a product or service.
Proprietary technology: Technology owned and controlled by a company, often providing a competitive edge.
Risk management: Identifying, assessing, and taking steps to minimize potential financial losses.
Visualization services: Tools or platforms that present data in graphical or interactive formats for easier analysis.
Mission-critical: Essential systems or services that are vital to the operation of a business.
TTM: The 12-month period ending with the most recent quarterly report.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Sportradar Group Ag. The Motley Fool recommends the following options: short February 2026 $32.50 calls on Sportradar Group Ag. The Motley Fool has a disclosure policy.

Four stocks look close to joining the $2 trillion club.

There are currently five stocks that have a valuation of $2 trillion or more. Outside of these five, only a handful of others are in a position to be worth $2 trillion or more in 2026: Meta Platforms (META 0.85%), Tesla (TSLA 0.46%), Broadcom (AVGO +3.12%), and Taiwan Semiconductor Manufacturing (TSM +1.67%).

The next largest company is Berkshire Hathaway, which has a market cap of about $1 trillion. For that stock to double would be a huge feat, especially without Warren Buffett at the helm, so let's put it aside.

Now we're left with Meta, Tesla, Broadcom, and TSMC. Which of these will make it to $2 trillion by the end of 2026? 

Image source: Getty Images.

All will beat the market if they reach $2 trillion by 2026
The largest is Meta Platforms, sitting at a $1.66 trillion valuation. The smallest is Taiwan Semiconductor at $1.49 billion. That places all four of these stocks in relatively close proximity to each other, which means the required return is fairly similar. Meta would need to rise 21% while Taiwan Semiconductor must rise 34%. Both of these potential performance figures would indicate a market-beating stock, so if any of these companies can breach the $2 trillion threshold, they will likely be great to own.

The $2 trillion threshold is also uncharted territory for this group. Both Meta and Broadcom have come close, but neither has crossed into the $2 trillion zone.

TSM Market Cap data by YCharts

I think three will make it, while one will be left out
If you sort the companies by growth rates, it's clear that there's one outlier: Tesla.

TSM Revenue (Quarterly YoY Growth) data by YCharts

It's no secret that Tesla is struggling in the current environment, due to electric vehicle (EV) credits ending from the U.S. government. Meanwhile, the other three are posting incredible growth rates that don't look to be slowing down anytime soon in 2026.

Taiwan Semiconductor is a key provider of chips in the artificial intelligence supply chain. Without its production capabilities, none of the AI computing power we know now would be possible. Demand for AI chips isn't slowing down, and Taiwan Semiconductor is expected to continue growing at a rapid 21% pace in 2026, according to Wall Street analysts. However, these analysts have consistently underestimated Taiwan Semiconductor's growth over the past few years, so don't be surprised if TSMC outperforms these expectations. Couple that with the second-cheapest valuation in this group, and Taiwan Semiconductor should reach the $2 trillion mark in 2026.

Meta Platforms nearly entered the $2 trillion club, but pulled back following a poorly received third-quarter earnings report. While the business's performance was incredible, investors didn't like Meta's massive spending plans. There is growing concern that Meta is overextending itself, which is why investors have started selling off the stock. However, I think Meta is just the first company to max out its cash flows being devoted to AI computing capacity, and it won't be the last. The market will come back around to Meta's stock in 2026 and will send it back to levels allowing it to reach the $2 trillion point.

Last is Broadcom, which also sold off due to 2026 guidance. Wall Street wanted greater visibility into faster AI growth, and Broadcom told investors they needed to be patient. Still, Broadcom informed investors that its Q4 AI revenue was $6.5 billion, up 74% year over year, and that it projects Q1's growth to be north of 100%. Broadcom is a much larger business than just AI, and the business isn't nearly as successful in those endeavors. Still, I think sustained growth from its custom AI computing units will drive Broadcom's stock higher in 2026, allowing it to reach the $2 trillion threshold.

Keithen Drury has positions in Broadcom, Meta Platforms, Taiwan Semiconductor Manufacturing, and Tesla. The Motley Fool has positions in and recommends Berkshire Hathaway, Meta Platforms, Taiwan Semiconductor Manufacturing, and Tesla. The Motley Fool recommends Broadcom. The Motley Fool has a disclosure policy.

Between these two tech titans, one is the better investment opportunity.

When looking at stocks to buy, investor attention might go to the most dominant and well-known businesses out there. This will naturally lead to technology companies that have strong market positions, popular products and services, and perhaps a presence in the booming artificial intelligence (AI) market.

Apple (AAPL +0.17%) and Amazon (AMZN +0.21%) come to mind. Over the long term, they have both been fantastic stocks to own, doing a great job compounding shareholder capital. And today, they command multitrillion-dollar market caps.

Both businesses have their own investment merits. But which is the best stock to buy right now?

Image source: Getty Images.

Apple is moving slowly with AI, but the moat couldn't be wider

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The biggest knock on Apple in recent years has been its unhurried approach to AI. Major tech enterprises across the board are moving incredibly fast at building out the necessary infrastructure and software capabilities to position themselves to become leaders in the AI market.

Apple, in typical fashion, started out being cautious, as its usual strategy isn't to be first, but to be the best. However, the Apple Intelligence features on its smartphones aren't turning any heads. And an upgraded Siri launch has been delayed until next year.

That still doesn't take away from Apple's wide economic moat. The company's competitive position is supported by its strong brand, with Apple arguably being the most recognizable business on Earth. The brand resonates with consumers across the globe, thanks to the company's beautifully designed hardware and software offerings, superior user experience, and premium positioning. The elevated retail experience also has an impact.

The moat is also helped by Apple's powerful ecosystem. This combination of products and services is what makes the business truly one-of-a-kind. Customers are essentially locked in, with Apple being able to generate profits on its hardware devices, while also raking in high-margin revenue on its fast-growing services segment.

There are very few companies as financially sound as Apple. Its net profit margin has averaged 25.5% in the past five years. It collects massive amounts of free cash flow. And the balance sheet is clean, with $34 billion of net cash on the books (as of Sept. 27). This reduces risk for investors.

Amazon has multiple growth drivers that will push it forward

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Amazon, on the other hand, is already atop the AI race. It's planning to spend a whopping $125 billion on capital expenditures this year to bolster its technical infrastructure. That's an easy capital allocation decision for the leadership team to make, as they are seeing robust demand from customers for AI-related products and services.

This shows up in Amazon Web Services (AWS), whose revenue shot up 20% year over year in Q3. This booming segment is also very profitable, bringing in trailing-12-month operating income of $43.8 billion.

Besides cloud computing, which itself is poised to be a $2.4 trillion market worldwide in 2030, Amazon dominates online shopping. Nearly 40% of all U.S. e-commerce activity happens on its marketplace, giving it an advantageous position as buyer behavior keeps moving to digital channels.

Investors might not realize that Amazon reported $17.7 billion in digital ad sales in the third quarter, a major growth engine that is likely also producing high margins. Amazon also has a presence in streaming entertainment, autonomous driving, and healthcare.

I believe Amazon is in a better position to increase its revenue and earnings power at a faster rate than Apple, thanks to those secular trends working in its favor. Valuation matters as well. Amazon stock's price-to-earnings ratio of 32.1 is below Apple's multiple of 36.6, given the former the upper hand.

With a time horizon looking out over the next five or 10 years, I view Amazon as the best stock to buy right now.

This dip is an opportunity to think about what matters most with this asset.

Investing for the long term is, in large part, the art of not confusing any individual signpost for the contour of the landscape itself. On that note, a lot of investors are fretting that Bitcoin (BTC 0.05%) has fallen below $90,000 after a weak 2025.

But I'm still accumulating it, and I'm not worried at all about this asset. Here are three reasons why.

Image source: Getty Images.

1. The long run is still the only period that counts
The first reason I'm not concerned about Bitcoin falling below $90,000 is that I plan on holding it for years, no matter what its price does in any given month. Turbulence along the way is to be expected.

For instance, Bitcoin closed at $16,646 on Dec. 17, 2022, which was approximately the nadir of the last big crypto bear market. Even after the coin's lackluster performance in 2025, today it's up by 428% compared to three years ago. Worrying about what it did over the last few months is a surefire way to erode your conviction and eventually set yourself up to sell your Bitcoin when it'd probably be better to just hold it. Price drops are just theoretical losses until you actually sell and lock in the lower prices forever.

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The mechanism that makes holding this asset for the long term so appealing is the halving cycle. With each halving that passes, approximately once every four years, it gets dramatically harder to mine Bitcoin. That means that future buyers will be competing over a smaller pool of new supply, which tends to bias prices to the upside.

2. More Bitcoin is getting parked with owners who tend to hold firm
Another reason to stay calm right now is that Bitcoin's supply increasingly lives on the balance sheets of owners whose incentives lean toward holding it rather than selling.

Government entities, public companies, asset managers, and exchange-traded funds (ETFs) today account for just over 4 million BTC out of the asset's total possible circulating supply of 21 million BTC. Big holders can still sell if certain contingencies compel them to, but they are typically far less skittish than marginally attached retail investors looking for a quick crypto flip. If financial institutions or even central banks start to accumulate the coin to hold as reserves, it'll mark another completed expansion phase of Bitcoin's maturity as an asset, and that's likely right around the corner.

Furthermore, for the most part, the governments that are positioning to move forward on big, price-moving ideas like a Strategic Bitcoin Reserve (SBR) haven't actually started to implement their plans. When they do, you'll hear about it, and then even more Bitcoin will be taken out of circulation, potentially for years to come.

3. Macro liquidity can change the mood fast
The last reason I'm not worried at all about Bitcoin's dip is that it has a reputation for acting like a barometer for global liquidity.

In this context, you can think of "liquidity" as how easy it is for capital to move across the financial system. It's influenced primarily by central bank policy, credit creation, and the broad money supply, and, over a multi-year period, it tends to be fairly cyclical.

When liquidity increases, risk assets often benefit significantly, and Bitcoin is no exception. Given that the U.S. seems very likely to keep moving toward a more accommodative (looser) monetary policy stance over the next few quarters, liquidity will probably rise, and Bitcoin could catch a big tailwind.

Even if that doesn't happen in the near term, over the long term, another liquidity expansion is practically guaranteed. So, if you're consistently buying Bitcoin like I am, the purchases you made during times of thinning liquidity (like 2022, for instance) will end up being at very favorable price points.

When liquidity finally expands again, the buys made during tough times start to pay off -- and that's exactly what I expect to happen again within the next couple of years.

The move ramps up pressure on Caracas after Trump declared a blockade on sanctioned ships moving its oil.

Palantir Technologies (PLTR +4.21%) has been one of the biggest winners of the AI era. The cloud software stock is up a remarkable 2,910% since the start of 2023, turning $1,000 into more than $30,000.

The stock's emergence is no accident. Its launch of its artificial intelligence platform (AIP) in 2023 transformed the business. Its revenue growth rate has dramatically accelerated since then, and its profit margin has expanded significantly as well.

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The company has also benefited from the embrace of the Trump administration, which has adopted Palantir's tools across agencies, and it's gained significant traction with U.S. commercial businesses. In the third quarter, U.S. commercial revenue jumped 121% to $397 million, and U.S. government revenue rose $486 million, driving the growth in the business as overall revenue rose 63% to $1.18 billion.

While its growth is strong, investor skepticism about its valuation seems to be on the rise. Palantir currently trades at a sky-high price-to-sales ratio of 121. By comparison, the next most expensive stock on the S&P 500 trades at a P/S ratio of 44.2, which would still be considered dangerously pricey.

However, earnings are what ultimately count, and Palantir has become a high-margin business with a generally accepted accounting principles (GAAP) operating margin of 33% and a net income margin of 40% in the most recent quarter, thanks to $59.7 million in interest income and $27.5 million in other income from unrealized equity gains. Based on GAAP earnings, Palantir has a trailing price-to-earnings ratio of 428.

So where will Palantir be in another year? The answer to that question will depend primarily on two things: the strength of Palantir's own business and sentiment around AI. Let's take a look at how both of those factors will affect the stock.

What's next for Palantir's business
Heading into 2026, Palantir's momentum is continuing to build. The company just reported its fastest quarterly revenue growth ever as a publicly traded company at 63%, and it expects another strong result in the fourth quarter, calling for $1.327 billion-$1.331 billion, or 50% at the midpoint. However, the company has a pattern of topping its guidance, so it could easily beat that mark. Whether Palantir's growth can keep accelerating remains to be seen, but it doesn't need to do that in order for the business to be successful.

Palantir faces little direct competition. The company says its biggest competitor is homegrown initiatives from its customers. Additionally, as a cloud software stock, Palantir enjoys some protection from the consumer headwinds that are rattling parts of the stock market, as the businesses buying its product are likely to do so as long as it continues to deliver the efficiencies it's known for. The company has also built up an impressive backlog, which should convert into revenue no matter what happens with the economy or new business. It now has $3.63 billion U.S. commercial remaining deal value, or roughly two years of revenue from that segment at current run rates.

Finally, the company should also continue to benefit from the Trump administration's support and the work of initiatives like DOGE, which have relied on Palantir's technology.

Image source: Getty Images.

The AI sentiment effect
However, it's not just financial results that have driven Palantir's growth. The stock has also benefited from significant multiple expansion over the last three years due to enthusiasm around AI.

That tailwind may be fading, though. In recent months, concerns about an AI bubble have weighed on Palantir, and the stock has traded sideways over the last few months.

As a software stock, the company is distinct from the chipmakers like Nvidia that are driving the AI boom, or the infrastructure stocks like Oracle that have also benefited from AI. Its business model should help protect it from sentiment around AI to a degree, but its valuation is so high that it might not get that benefit.

If there are more signs in the market that the pace of growth in AI is unsustainable or that there is even a bubble, Palantir is likely to suffer, and the stock could easily fall 50% or more if investor sentiment shifts. However, the bubble concerns could also prove to be passing, meaning the AI sector could keep moving higher next year.

Where Palantir goes from here
Looking out to the next year, Palantir is poised for solid growth, but the valuation is likely to restrain the stock, and any expansion in the valuation only adds risk. At the current price-to-sales ratio, the upside potential is limited. If the AI boom continues, Palantir's stock growth should be similar to the Nasdaq Composite or slightly better.

Alternatively, if AI sentiment begins to crack, the stock could fall sharply. At this point, the downside risk in the stock seems to outweigh the upside potential.

When it comes to Tesla's (TSLA) 2026, Steve Westly isn't optimistic on car sales, calling for a second straight year of declines. As investors price the stock on autonomous aspirations, Steve says the company needs to emphasize the shift to robotaxi with a regulation push and expansion to more cities.

As 2026 approaches, Nvidia stock is sliding.

When it comes to leading semiconductor stocks, investors don't need to look much further than companies like Taiwan Semiconductor Manufacturing, Broadcom, Advanced Micro Devices, Micron Technology, and of course, Nvidia (NVDA +3.93%).

While Nvidia has been the headline act for much of the artificial intelligence (AI) revolution, shares have lagged its chip peers throughout 2025.

NVDA data by YCharts

As 2026 draws closer, growth investors may be wondering if Nvidia remains a good buy, or if now is the time to rotate capital away from the world's most valuable company and seek new opportunities.

What should Nvidia investors be on the lookout for in 2026?
For the last three years, Wall Street's primary focus surrounding Nvidia is the performance of its data center business. This segment accounts for the bulk of Nvidia's revenue and profits, as it captures demand for the company's graphics processing units (GPU).

Throughout the AI revolution, investors have paid close attention to Nvidia CEO Jensen Huang's commentary around the company's Hopper and Blackwell GPU architectures. While Blackwell remains an important catalyst for Nvidia, investors should start to pay closer attention to guidance around the upcoming Rubin chips. So far, investors have already gotten a small preview of demand for Rubin.

For instance, Huang recently noted that Nvidia has a total order backlog of around $500 billion for Blackwell, Rubin, and accompanying networking products. Of note, a portion of this revenue has already been booked, with an estimated $300 billion expected to be recognized during 2026.

In addition, Anthropic recently signed a $30 billion compute capacity agreement with Microsoft. As part of the deal, Anthropic will be leveraging clusters of Blackwell and Rubin chips.

At a macro level, Goldman Sachs estimates that hyperscalers including Microsoft, Alphabet, Amazon, and Meta Platforms will spend roughly $500 billion on AI capital expenditures (capex) next year. Taking this one step further, McKinsey & Company is forecasting AI infrastructure to be a $7 trillion opportunity over the next five years.

GOOGL Capital Expenditures (TTM) data by YCharts

Against this backdrop, investors should monitor how these secular tailwinds fueling accelerated investment in infrastructure continue to impact Nvidia, being aware that rising infrastructure will impact Nvidia well beyond its core data center operation.

Throughout next year and beyond, Nvidia's opportunities in adjacent markets, including next-generation CPUs and accelerated computing operating systems, should begin to come into focus as well, thanks to some savvy partnerships with Intel and Palantir Technologies.

Image source: Nvidia.

Nvidia's valuation trends are getting interesting
In the table, I've summarized Nvidia's price-to-sales (P/S) and forward price-to-earnings (P/E) multiples, as of the end of each quarter over the last year.

MetricCurrent3Q252Q251Q254Q24Price-to-sales (P/S)23.330.229.620.726.4Forward price-to-earnings (P/E)23.431.557.424.828.1
Data source: Yahoo! Finance.

There are two anomalies that stick out from the data.

First, Nvidia's valuation multiples experienced notable compression during the company's first fiscal quarter of 2025 (ended April 30). This was driven by uncertainty surrounding President Trump's tariff policies, as well as fear that a Chinese start-up called DeepSeek could pose a threat to U.S. dominance in the AI landscape.

The second theme that's beginning to become more noticeable is that Nvidia's P/S and forward P/E ratios are hovering around the same levels as their prior lows earlier this year. Once again, I think this contraction revolves around fear more than anything else. Specifically, investors are concerned about rising competition from AMD and custom application-specific integrated circuits (ASICs) from Broadcom.

Is Nvidia stock a buy heading into the new year?
While rising competition in the chip space is a very real thing, I don't see Nvidia necessarily losing its grip anytime soon. AI infrastructure is expected to be a multitrillion-dollar market that lasts several years. Buying into the idea that the hyperscalers will migrate away from Nvidia's GPUs overnight is unrealistic.

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Right now, Nvidia stock is becoming cheaper by the day despite the company operating at historic levels and signing new deals and partnerships -- effectively broadening its total addressable market (TAM) beyond data center services and simultaneously bringing new levels of business visibility as the AI infrastructure era kicks off.

I think now is a great time to buy the dip and capitalize on the chip king's ongoing sell-off. Investors with a long-term time horizon could use the recent depressed price action to add to a core buy-and-hold position. Given these dynamics, I see Nvidia as a no-brainer heading into the new year.

Adam Spatacco has positions in Alphabet, Amazon, Meta Platforms, Microsoft, Nvidia, and Palantir Technologies. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Amazon, Goldman Sachs Group, Intel, Meta Platforms, Microsoft, Nvidia, Palantir Technologies, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

First Trust Enhanced Short Maturity ETF invests in short-term U.S. debt securities, aiming for enhanced yield with low interest rate risk.

On December 2, 2025, IFP Advisors, Inc disclosed a sale of 395,379 shares of First Trust Enhanced Short Maturity ETF (FTSM +0.02%), reducing its position by an estimated $23.66 million, according to a recent SEC filing.

Sold 395,379 shares, with an estimated $23.66 million net position decreaseRepresents a trade of approximately 0.6116% of fund AUMPost-trade stake: 361,611 shares valued at $21.66 millionPosition now 0.56% of fund AUM, which places it outside the fund's top five holdingsWhat happenedAccording to a Securities and Exchange Commission (SEC) filing dated Dec. 2, 2025, IFP Advisors, Inc. reduced its holdings in First Trust Enhanced Short Maturity ETF by 395,379 shares during the third quarter. The post-sale position stands at 361,611 shares, worth $21.66 million at quarter-end. The transaction reflects normal trading activity, with the stake now accounting for approximately 0.56% of the fund's reported U.S. equity assets.

What else to knowThe fund sold FTSM, reducing its stake to 0.56% of 13F reportable assets under management.Top holdings after the filing:  NASDAQ:AAPL: $104.18 million (2.7% of AUM)NASDAQ:NVDA: $69.81 million (1.8% of AUM)NYSEMKT:VUG: $60.89 million (1.6% of AUM)NYSEMKT:SPY: $59.17 million (1.5% of AUM)NASDAQ:QQQ: $55.90 million (1.4% of AUM)As of December 1, 2025, shares of FTSM were priced at $59.90, down 0.4% from the 52-week high.One-year total return was 4.2%, underperforming the S&P 500 by 9.25 percentage points.The reported annualized dividend yield was 4.34% as of December 2, 2025.ETF overviewMetricValuePrice (as of market close December 1, 2025)$59.90Dividend yield4.34%1-year total return4.58%ETF snapshotInvestment strategy focuses on maintaining a portfolio of U.S. dollar-denominated fixed- and variable-rate debt securities with an average duration of less than one year and average maturity below three years.Fund structure is an ETF that invests in U.S. dollar-denominated fixed- and variable-rate debt securities with an average duration of less than one year and average maturity below three years.Targets institutional and individual investors seeking competitive income and low volatility in changing rate environments.First Trust Enhanced Short Maturity ETF (FTSM) is a short-duration fixed income ETF with a market capitalization of $6.16 billion, designed to offer enhanced yield while minimizing interest rate risk. The fund's active management approach allows for dynamic allocation among high-quality, short-term debt instruments, supporting both liquidity and capital preservation.

Foolish takeThe First Trust Enhanced Short Maturity ETF (FTSM) isn't the highest-yielding bond ETF. With a focus on short-term debt, though, it provides a steady yield. Investors who held it over the past year haven't seen much price appreciation. Adding up all the dividends they received produced a 4.58% total return over the past 12 months.

At the end of June, FTSM was the seventh largest holding out of thousands in IFP Advisors' portfolio. A decision to trim about 52% of the FTSM shares it was holding suggests the firm expects the overall market to continue performing. In addition to trimming a defensive FTSM position from its portfolio, the firm raised its position in the Vanguard Growth ETF by 12% during the third quarter. The growth-focused ETF is now IFP's third-largest position.

Despite being focused on short-term debt, U.S. Treasury notes due in 2027 are the largest holding at 1.2% of the portfolio. Fixed-rate corporate bonds make up 46.7% of the overall portfolio.

GlossaryETF (Exchange-Traded Fund): An investment fund traded on stock exchanges, holding a basket of assets like stocks or bonds.

AUM (Assets Under Management): The total market value of assets that an investment manager or fund controls on behalf of investors.

13F reportable assets: Securities holdings that institutional investment managers must report quarterly to the Securities and Exchange Commission (SEC) on Form 13F.

Dividend yield: Annual dividends paid by an investment, expressed as a percentage of its current price.

Total return: The investment's price change plus all dividends and distributions, assuming those payouts are reinvested.

Duration: A measure of a bond or portfolio's sensitivity to interest rate changes, expressed in years.

Maturity: The length of time until a debt security, like a bond, repays its principal amount.

Short-duration: Refers to bonds or funds with low average durations, making them less sensitive to interest rate changes.

Fixed- and variable-rate debt securities: Bonds or loans that pay either a set (fixed) or changing (variable) interest rate.

Active management: An investment strategy where managers make ongoing decisions to buy or sell assets, aiming to outperform benchmarks.

Capital preservation: An investment goal focused on preventing losses and maintaining the original investment amount.

Liquidity: How quickly and easily an asset can be converted into cash without significantly affecting its price.

Sherwin-Williams could soon hit a milestone that barely 1 in 1,000 stocks have reached.

In the second quarter of its fiscal 1965, just after its initial public offering the year before, paint maker Sherwin-Williams (SHW 1.38%) reported net income of $1.06 million. Sixty years later, in Q2 2025, it reported net income of $754.7 million. Even when you account for the inflation seen in that time, that's a roughly 7,200% rise in net income.

Yet, Sherwin-Williams shares have risen far faster, notching 115,000% gains since 1985, the first year its share price data is readily available. What explains the stratospheric gains of a paint-maker stock over the last 40 years?

Part of it is its sterling dividend history, as it has increased its dividend for 47 years and counting. But the main reason is share buybacks. The company has aggressively repurchased shares over the years, an inherently shareholder-friendly practice that boosts earnings per share and ultimately share price. In the last decade alone, Sherwin-Williams has bought back over 53 million shares, which is over 20% of the shares left outstanding.

Still, Sherwin-Williams shares are down about 4% year to date amid the S&P 500's 15% rise, and in last October's earnings call, CEO Heidi Petz acknowledged "a very challenging environment will persist through the first half of the year and most likely beyond that." This admission followed news in September that the company was temporarily halting its 401(k) match for employees. 

Given all that, should investors avoid Sherwin-Williams despite its storied history? Here's what the numbers tell us.

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Awaiting the "magic 6% number"
Sherwin-Williams is in a cyclical business. People can put off buying that coat of paint when they're feeling pinched, and a slower housing market with falling construction further dampens demand. America's souring economic mood, combined with flat home sales nationwide, has caused the "very challenging environment" Petz alluded to.

The good news is that interest rates are falling, and so is the 30-year fixed rate mortgage average. In her earnings call, Petz was asked how much farther it needs to fall to catalyze demand in Sherwin-Williams' Paint Stores segment. Petz replied that "6% seems to be the magic number," adding, "we are all hoping that the Fed makes some shifts here in the future."

As you can see, the 30-year fixed mortgage average is hovering tantalizingly close to the "magic number." With the Federal Reserve's announcement of a third rate cut earlier this month, it would likely take just another 25-basis point cut to bring it below the 6% threshold that Petz laid out.

Data source: Freddie Mac via FRED®

The next Federal Open Monetary Committee meeting, in which the Federal Reserve announces its next decision on interest rates, is scheduled for this coming Jan. 27-28. So Sherwin-Williams will have to wait five more weeks for more interest rate relief, if the Fed indeed does cut.

But it seems clear that it will. November's jobs report showing only 64,000 jobs added for the month should cement Fed Chair Jerome Powell's fear that the labor market is in need of some juice. That's doubly true since Powell has openly theorized that, as bad as recent jobs numbers have been, they may actually be overstating jobs added by as much as 60,000 a month.

It will take some time for lower rates to be felt in Sherwin-Williams' balance sheet, of course. In the meantime, these medium-to-high interest rates and flat housing market put last quarter's earnings and revenue growth of 3.3% and 3.2% in context.

Image source: Getty Images.

As for the pause on the 401(k) match, it sounds like an ominous sign at first. But there is precedent for the move, with Sherwin-Williams pausing its 401(k) match during the 2009 financial crisis and again during the COVID-19 pandemic. The company's shares are up more than 1,700% since mid-2009, to give you an idea of what the 401(k) policy says about the stock.

Dividends don't lie
Sherwin-Williams is on the cusp of a milestone only one in 1,000 companies have achieved: Dividend King status. Out of around 53,000 publicly traded companies in the world, just 55 have raised their dividend each year for 50 years. Sherwin-Williams just capped its 47th dividend hike, and the increase wasn't token, either. Its 10.5% dividend increase was just the latest in a string of robust hikes. Over the last five years, it's raised its dividend by 44%.

The current dividend yield of 1% may not be life-changing. But management will certainly covet Dividend King status, and I believe they won't be content to cross the finish line with nominal increases that lag inflation. This company's record of dividend growth is strong enough that a 1% yield could compound in a hurry.

Sherwin-Williams' rough patch might last for six months or longer, as its CEO has stated. But I believe this is a stock to hold for decades.