Market Signal Briefing

Ethereum’s upside may remain constrained in the year ahead as market conditions hinge on Bitcoin’s direction.

Danielle du Toit2 min read

26 December 2025, 05:30 AM

Benjamin Cowen argues that if Bitcoin is already in a bear market, Ethereum is unlikely to sustain a breakout to new all-time highs, even if it briefly revisits previous peaks. He warns that a rally toward the $4,878 level could turn into a bull trap, followed by a sharp reversal back toward $2,000. 

Ethereum Upside LimitedEthereum is unlikely to reach new all-time highs over the coming year if Bitcoin remains under pressure. This is according to crypto analyst Benjamin Cowen, who shared his outlook during a recent appearance on the Bankless podcast. 

Cowen said that if Bitcoin is indeed in what feels like a broader bear market, it would be difficult for Ethereum to sustain a meaningful breakout. In his view, the macro conditions that typically allow Ethereum to surge to new highs are closely tied to Bitcoin’s market structure, and without a strong foundation from BTC, upside momentum for ETH may be limited.

The comments also follow a bearish projection from veteran trader Peter Brandt, who warned in mid-December that Bitcoin could fall as low as $60,000 by the third quarter of 2026. That outlook added to growing caution among analysts who believe the market may be transitioning into a longer consolidation or downturn phase rather than a renewed bull cycle. Cowen suggested that even if Ethereum were to reclaim its previous all-time high close to $4,878, such a move could ultimately prove to be a bull trap rather than the start of a sustained rally.

Ethereum briefly pushed back to its 2021 peak in late August before entering a prolonged decline that dragged the price below $3,000 by November. At current levels, a return to that all-time high would require a gain of more than 40%, based on pricing data from CoinCodex. 

ETH’s price action over the past 6 months (Source: CoinCodex)

While Cowen acknowledged that such a move is technically possible, he still warned that it will likely be followed by a sharp reversal, potentially sending Ethereum back toward the $2,000 level. He also explained that even a renewed ETH rally will probably not spill over into a broader altcoin resurgence.

According to Cowen, Ethereum is the only major altcoin that still appears capable of revisiting previous highs this cycle, while many others may already be past their peak. This view aligns with warnings from Fundstrat Global Advisors, which reportedly told investors to prepare for a “meaningful drawdown” in 2026 that could push Ethereum into the $1,800 to $2,000 range.

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Danielle du Toit

Danielle du Toit, a criminology honors graduate, has channeled her curiosity and analytical mindset into exploring the fascinating and ever-evolving world of cryptocurrency. Drawn to the dynamic nature of blockchain technology and its impact on global markets, Danielle thrives on uncovering insights in this complex industry.
As a crypto journalist, Danielle is passionate about learning and sharing her knowledge with fellow enthusiasts. Her work combines a keen investigative eye with a love for storytelling, making even the most intricate aspects of crypto accessible and engaging. Through her writing, Danielle aims to inspire readers to delve deeper into the weird and wonderful realm of digital finance.

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EthereumInvestingLatest Cryptocurrencies News Today

Crypto markets are bracing for a historic year-end event today, December 26, with more than $27 billion in Bitcoin and Ethereum options expiring on Deribit. This represents over half of the derivatives exchange’s total open interest.

The colossal “Boxing Day” expiry could mark one of the largest structural resets in crypto history.

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Bitcoin and Ethereum Brace for Record $27 Billion Options Expiry on Boxing DayToday’s options expiry is significantly higher than those witnessed last week, given it is the last Friday of the month and the year. More precisely, today’s expiring options are for the month and for the quarter (Q4 2025).

The numbers are staggering, with Bitcoin accounting for $23.6 billion of the expiring options, with Ethereum making up $3.8 billion. Current Bitcoin prices hover around $88,596, while Ethereum trades at $2,956.

Expiring Bitcoin Options. Source: DeribitCall options dominate the playing field, outnumbering puts nearly three to one, signaling a distinctly bullish tilt among traders.

The so-called “max pain” levels sit near $95,000 for Bitcoin and $3,000 for Ethereum, the price points where options sellers stand to profit the most, while buyers experience the most financial loss.

Expiring Ethereum Options. Source: DeribitSponsored

According to Deribit, this expiry involves more than 50% of the exchange’s total open interest, making it the largest on record.

“…the largest expiry on record -representing over half of total open interest -… Post-expiry flows will matter more than price. Watch positioning. How would the market react to an expiry this big?” Deribit analysts posed.  

The max pain theory, though debated, suggests that spot prices often gravitate toward these levels as traders and institutions adjust hedges before expiry.

Rollover activity is currently the dominant force in the trading market. Many institutions are shifting positions to January contracts to mitigate risk, creating noise in short-term options data.

Greeks.live notes that while puts accounted for 30% of recent block trades, this should not be interpreted as bearish sentiment. Traders picking up leftover positions discarded by institutions can find favorable pricing in this environment, according to analysts.

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With the annual expiration approaching, over half of all options will expire this Friday, the DEC 26th. Rollover trades are now the dominant force in trading volume.

This creates significant signal noise, making options data unreliable as a trading signal in recent days. For… pic.twitter.com/zGcBFdaOq0

— Greeks.live (@GreeksLive) December 25, 2025
Volatility Falls, but Year-End Expiry Could Set the Tone for 2026Despite the event’s sheer size, the market appears to be calm. Bitcoin’s implied 30-day volatility index (DVOL) sits around 42%, down from 63% in late November. This suggests that panic-driven swings are unlikely, and the expiry may settle more orderly than feared.

Bitcoin Volatility Index. Source: TradingViewThe implications extend beyond the expiry itself. Post-expiry flows are expected to drive market direction, potentially easing upside resistance.

Sponsored

Traders are watching key strikes:

For Bitcoin, the $100,000–$116,000 call options dominate, while the $85,000 put remains the most popular downside bet.
Ethereum shows a similar pattern, with concentrated call interest above $3,000.
How institutions manage leftover or rolled-over positions will likely define price action in the first weeks of 2026.

Investors should note that large expiries like this typically breed volatility as traders scramble to close trades or rollover positions. Therefore, the decision to let December put open interest expire at 08:00 UTC on Deribit, or extend them, will determine whether downside risk is year-end driven or signals a structural reset.

With more than half of Deribit’s open interest expiring in one day, Bitcoin and Ethereum are on the verge of a market-defining moment.

Today’s options expiry represents both opportunity and risk. It brings forth an extraordinary convergence of scale, positioning, and seasonal liquidity that could shape crypto trends heading into 2026.

7h05 ▪
4
min read ▪ by
Luc Jose A.

Summarize this article with:

In five days, Bitcoin ETFs listed in the United States lost more than 825 million dollars, according to Farside Investors. This series of withdrawals marks a clear decline in institutional demand approaching 2026. After a year marked by enthusiasm around BTC-backed funds, the trend reversed during this December.

In brief

American Bitcoin ETFs experienced more than 825 million dollars of net outflows in just five days before Christmas.
This massive withdrawal is partly explained by tax loss harvesting strategies and a major options expiration on the markets.
The disengagement seems temporary, according to several analysts who anticipate a return of positive flows in early 2026.
Asia is becoming a net buyer, marking a possible geographic reshuffling of institutional flows.

A capital exodus from Bitcoin ETF
Spot Bitcoin ETFs listed in the United States ended the year with a series of almost uninterrupted net outflows, except on December 17.

According to data from Farside Investors, December 24 alone recorded 175.3 million dollars in withdrawals, bringing the total of the last five market days to 825.7 million dollars. This sequence reflects a period of massive disengagement from institutional investors.

Trader Alek, active on X (formerly Twitter), proposes a widely accepted explanation at this time of year : “the majority of sales are due to tax loss harvesting, which means it should end within a week”.

Here are the key facts observed during this period :

Since December 15, every trading day (except 12/17) saw outflows ;
Over 825 million dollars left American Bitcoin ETFs within one week ;
175.3 million dollars of withdrawals were recorded on December 24 alone ;
The only day with positive inflows : December 17, with +457.3 million dollars ;
The main reason cited : tax loss harvesting, a year-end tax optimization strategy ;
The aggravating factor : a major options expiration weighed on market sentiment.

For Alek, this dynamic is essentially temporary : “it’s temporary, and institutions will soon return to buying”, he states. Several analysts share this view, estimating that liquidity is not destroyed but merely inactive.

A recovery of positive flows could therefore occur as soon as the markets reopen in January, provided that macroeconomic and regulatory conditions remain stable.

When Asia buys back what America sells : towards a geographic reshuffling of flows
Beyond fiscal or technical considerations, one structural data point worries analysts: the shifting center of gravity of demand for bitcoin.

The Coinbase Premium, an indicator that measures the gap between the price of BTC on Coinbase (a US reference) and that on Binance (widely used in Asia), was negative for much of December.

This means that the price of the flagship crypto is often lower in the United States than in Asia, reflecting a persistent weakness in American demand. This is concisely summarized by analyst Ted Pillows on X : “The United States is now the largest seller of BTC. Asia is today the largest buyer”.

This regional shift in flows could have much deeper implications than a mere short-term variation. It potentially reflects a misalignment of interests and strategies between Western markets, more sensitive to taxation and regulation, and Asian markets, where growth dynamics and risk appetite seem more resilient to macroeconomic uncertainty.

Moreover, it should also be noted that the 30-day moving average of flows on Bitcoin and Ether ETFs has remained negative since early November, signaling a more persistent inertia than daily movements alone suggest.

ETF outflows signal institutional retreat on bitcoin, revealing increased caution at the end of the year. It remains to be seen whether this movement reflects a lasting disengagement or a tactical pause before a possible repositioning in early 2026.

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Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

SBI Group is preparing to test a new cashless payment system in Japan using USDC, a US dollar–linked stablecoin issued by Circle. The pilot project is expected to begin in spring 2026 and will focus on in-store payments using QR codes.

The test will be run by SBI VC Trade, Japan’s only registered operator allowed to handle stablecoins, along with APLUS, a payments company that works with a wide network of retail stores. The goal is to build a simple payment model where customers can pay in USDC and stores receive Japanese yen.

Under the plan, customers holding USDC in private wallets like MetaMask will scan a store’s QR code and pay using USDC. SBI VC Trade will then convert the USDC into yen and send it to APLUS, which will pass the funds on to the merchant.

SBI says the project builds on lessons learned from the Osaka-Kansai Expo, where digital wallets were tested for visitors. The company also hopes the system will be useful for foreign tourists, who may find it easier to pay with dollar-based digital money instead of cash.

Why USDC and Not Ripple’s RLUSDThe announcement has drawn attention because SBI has a long-standing relationship with Ripple, yet the pilot uses USDC instead of Ripple’s own US dollar stablecoin, RLUSD.

Pro-XRP lawyer Bill Morgan reacted to the news, saying the decision likely reflects timing rather than a lack of confidence in Ripple. He noted that when SBI VC Trade became Japan’s first registered stablecoin operator in March 2025, RLUSD was not yet ready for use, while SBI already had an existing partnership with Circle.

A new cashless payment model using USDC not RLUSD despite its parent company’s deep longstanding relationship with Ripple. Reflects that RLUSD was not sufficiently ready in March 2025 when SBI VC Trade became Japan’s first registered Electronic Payment Instruments Exchange… https://t.co/q2XVEu8taO

— bill morgan (@Belisarius2020) December 25, 2025 Morgan added that RLUSD is expected to catch up over time and said Ripple’s decision to launch its own US dollar stablecoin was critical. He also suggested that Ripple may have moved earlier if not for delays caused by its long legal battle with the US Securities and Exchange Commission.

What Comes NextIf the trial is successful, SBI and APLUS plan to expand the system to more stores and explore wider use of stablecoin payments across Japan.

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NEW YORK, Dec. 25, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Inspire Medical Systems, Inc. (NYSE: INSP) between August 6, 2024 and August 4, 2025, both dates inclusive (the “Class Period”), of the important January 5, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Inspire Medical common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Inspire Medical class action, go to https://rosenlegal.com/submit-form/?case_id=21452 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 5, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases.  Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants misrepresented and failed to disclose key facts about Inspire V, a sleep apnea device, including the actual market demand for the device and whether Inspire Medical had taken the steps necessary to launch it. Defendants issued a series of materially false and misleading statements that led investors to believe that demand for Inspire V was strong and that Inspire Medical had taken the necessary steps for a successful launch. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Inspire Medical class action, go to https://rosenlegal.com/submit-form/?case_id=21452 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

NEW YORK, Dec. 25, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of CarMax, Inc. (NYSE: KMX) between June 20, 2025 and November 5, 2025, both dates inclusive (the “Class Period”) of the important January 2, 2026 lead plaintiff deadline in the securities class action first filed by the Firm.

SO WHAT: If you purchased CarMax securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the CarMax class action, go to https://rosenlegal.com/submit-form/?case_id=47077 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 2, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner 90Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) defendants recklessly overstated CarMax’s growth prospects when, in reality, its earlier growth in the 2026 fiscal year was a temporary benefit from customers buying cars due to speculation regarding tariffs; and (2) as a result, defendants’ statements about CarMax’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the CarMax class action, go to https://rosenlegal.com/submit-form/?case_id=47077 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40thFloor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

Dogecoin's (CRYPTO: DOGE) official X account playfully invoked a “naughty list” on Christmas Day, calling out businesses that still don’t accept DOGE payments.

From ‘Naughty’ To ‘Nice’Dogecoin wished everyone a “Merry Dogemas” on the occasion. It then asked the community to tag companies on a so-called “naughty list” for not yet accepting DOGE payments.

“We’ll make sure they’re on the nice list for next year,” the X handle wrote.

See Also: Dogecoin (DOGE) Price Prediction 2025, 2026, 2030

Tesla And McDonald’s: Potential Candidates?Some of the responses included electric vehicle producer Tesla Inc. and X Corp., both of which are owned by Elon Musk.

A widely followed X user, going by the pseudonym Sir Doge of the Coin, tagged Tesla, stating, “Let's get back on the nice list!”

Tesla has an online shop with company merchandise. Though it currently only allows payment in dollars, it previously allowed users to make payments with Dogecoin.

Last year, Musk expressed a desire to reinstate the DOGE payment option, but little progress has been made as of now.

Interestingly, a user named TOPDOGE also tagged fast food chains McDonald’s and Burger King.

It’s worth highlighting that Musk publicly vowed to eat a McDonald’s Happy Meal on live television if the fast-food giant adopted Dogecoin.

Who's is going to accept Dogecoin first…@McDonalds or @BurgerKing?

— Market News and Data brought to you by Benzinga APIs

© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Despite the dip in its stock price, IonQ remains a quantum computing leader.

Outside artificial intelligence (AI), quantum computing was one of the most popular investment themes in 2025. However, the sector certainly experienced a roller-coaster ride throughout the year, climbing to new heights before crashing back down to Earth. This includes leader IonQ (IONQ 3.06%), which is down more than 35% from its highs as of this writing.

Let's see if you should be buying the stock on the dip.

Image source: Getty Images.

Taking a different approach
Quantum computing is an emerging technology that is still many years away from commercialization. The technology flips classical computing on its head by using what are called quantum bits, or qubits, instead of bits. Bits can be written as a zero or a one, while qubits can potentially be both through what is known as superposition.

Through entanglement, these qubits can also be linked together, allowing quantum computers to perform certain mathematical calculations exponentially faster. The problem, though, is that this approach is very error-prone.

Accuracy is the biggest strength of IonQ. While competitors like Rigetti Computing have much faster systems, none are as accurate as the 99.99% fidelity that IonQ has achieved. That's still actually considered very error-prone, but it is much further ahead in this area compared to its competitors.

IonQ is taking a much different approach than its rivals by using what is called trapped-ion technology. The company uses real ytterbium and barium atoms instead of the fabricated qubits that other companies in the space deploy. While fabricated qubits are extremely similar, they are not identical like actual atoms are. As a result, IonQ's trapped-ion technology is the most accurate of any quantum system.

Meanwhile, the company has said it aims to be the Nvidia of quantum computing. Nvidia's success doesn't just come from its powerful graphics processing units (GPUs), but also from the ecosystem it built around its chips, including its CUDA software platform and NVLink interconnect system. IonQ is planning to take a similar approach and has made numerous acquisitions in the space to acquire important complementary quantum computing technology.

One of the most important acquisitions the company made was LightSynq, which provides it with quantum interconnect technology. While one of the benefits of trapped-ion technology is that IonQ can just add more ions to increase power, this can only go so far in helping the technology scale.

LightSynq's photonic interconnect technology will allow it to move to a modular architecture, where it will be able to link "small traps" together. These small traps are essentially individual quantum chips that hold a manageable number of ions, ensuring they remain stable and easy to control. This is similar to how Nvidia's NVLink system connects its GPUs to help turn them into one power unit working together.

Today's Change

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Current Price

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While IonQ's revenue is still relatively modest, it has been growing quickly. Last quarter, its revenue rose more than 200% to nearly $40 million. It has also secured more than $100 million in contracts from the Air Force Research Lab.

The company was also one of 11 companies chosen by the United States government's Defense Advanced Research Projects Agency (DARPA) to advance to Phase B of its Quantum Benchmarking Initiative (QBI). The program was founded to determine whether companies can potentially build a fault-tolerant quantum computer within the next decade.

While other quantum computing systems are much faster, over the long run, IonQ's more accurate systems should give it a big advantage in the quantum computing race. Reducing errors is the biggest obstacle toward making quantum computing useful, and it is the company furthest along in this regard. Meanwhile, it has a ton of cash on its balance sheet to continue to make acquisitions and create an entire quantum computing ecosystem. There is no guarantee it will become the winner in the space, but right now, it is one of the best positioned.

The stock remains speculative, but it could be worth a small position to stash away and see where it ends up in 10 years.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Data shows Bitcoin has seen a shift in Correlation, with the cryptocurrency now being independent of Nasdaq and negatively correlated to Gold.

Bitcoin Correlation To Nasdaq & Gold Has Changed Recently
In a new post on X, CryptoQuant community analyst Maartunn has talked about the latest trend in the Correlation that Bitcoin has to the Nasdaq and Gold. The “Correlation” here refers to an indicator that basically tells us about how tied together the prices of any two given assets are.

When the value of the metric is positive, it means the price of one asset is responding to movements in the other by moving in the same direction. The closer the value is to 1, the stronger this relationship is.

On the other hand, the indicator being under the zero mark suggests a negative correlation exists between the assets. That is, the two are going in the opposite directions. The extreme level for this region lies at -1. A third case also exists for the metric, where its value becomes exactly equal to zero. When this happens, the prices don’t hold any relationship with each other whatsoever. In statistics, the variables are said to be “independent” under this condition.

Now, here is the chart shared by Maartunn that shows the trend in the Bitcoin Correlation to Nasdaq and Gold over the last few years:

There seems to have been a shift in the metric for both assets recently | Source: @JA_Maartun on X
As displayed in the above graph, the Bitcoin Correlation indicator was at notable positive levels for both Nasdaq and Gold in mid-2025, implying the cryptocurrency was strongly bound to traditional markets. As the year went on, however, a shift began to take shape, with the indicator declining for both assets. Today, the metric is sitting at a nearly neutral level for Nasdaq, a sign that Bitcoin is now trading independently from the US stock market.

The story is a bit different when it comes to Gold, however, as the Correlation has actually plummeted into the negative territory. With an indicator value of about -0.5, BTC can be considered to have a significant inverse relationship to Gold. Bitcoin is popularly thought of as the digital analogue to Gold’s “safe haven,” but given the latest Correlation, the cryptocurrency doesn’t appear to be behaving like one right now.

“BTC is no longer trading like a tech stock or a safe haven,” noted the analyst. “It’s carving out its own market regime.” It now remains to be seen whether the new Correlation behavior will maintain or if the cryptocurrency will face another shift soon.

BTC Price
Bitcoin has been consolidating sideways since its decline at the start of the week as its price is still trading around $87,500.

The trend in the price of the coin over the last five days | Source: BTCUSDT on TradingView
Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com

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Keshav is a Physics graduate who has been employed as a writer with Bitcoinist since June 2021. He is passionate about writing and through the years, he has gained experience working in a variety of niches.
Keshav holds an active interest in the cryptocurrency market, with on-chain analysis being an area he particularly likes to research and write about.

Renowned economist Peter Schiff reiterated his long-standing skepticism of Bitcoin (CRYPTO: BTC) on Thursday, contrasting the leading cryptocurrency’s 2025 slump with the surge in silver prices.

Bitcoin’s 2025 Misfire?In an X post, Schiff argued that Bitcoiners had nothing to celebrate this Christmas as the asset failed to deliver on its early 2025 promise.

“When the year began, HODLers were confident Bitcoin was poised to moon. Instead, it malfunctioned on the launch pad as precious metals took off,” Schiff said. “It was the crypto Christmas that wasn't.”

The previous metals advocate stated that “selling Bitcoin and buying silver” turned out to be the “best trades” of the year.

Bitcoin’s Long-Term Gains Outshine SilverBitcoin supporter Steven Yamada wasn’t amused by Schiff’s assertion, saying that the best trade on a long-term horizon is to “sell silver and buy BTC.”

While Bitcoin has clearly underperformed silver in 2025, it’s worth noting that the apex cryptocurrency fared better on a long-term time horizon. Its 5-year and 10-year returns well surpass those of the precious metal.

AssetYTD Gains +/-5-Year Gains +/-10-Year Gains +/-Price (Recorded at 9:30 p.m. ET)Bitcoin-6.18%+228%+20,324%$88,413.84Spot Silver+152.42%+189.13% +428.38%$74.74/OunceSee Also: Bitcoin ‘Should Dump To 45K,’ Trader Says: ‘The Day Capo Goes Bullish Is The Day We Top’

Schiff’s remarks aligned with his previous bearish projections about Bitcoin. Earlier in the week, he declared the Bitcoin trade “over,” arguing that the asset neither rises with tech stocks nor precious metals.

Last month, he noted that the apex cryptocurrency acts as a “mirror image” of silver, meaning that the higher silver goes, the more Bitcoin crashes.

Read Next: 

Bitcoin’s Down 7% Since Last Christmas Eve: Look At Its Rallies The Last 3 Times This Happened
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Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

Part of the Team Since

Jan 2024

About Author

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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Last updated: 

December 25, 2025

Bitcoin held near $89,127 in thin Boxing Day trade as Asian stocks edged higher and silver stayed in the spotlight after notching fresh record highs this week, with investors still leaning into the year-end risk bid.

With several Asia Pacific exchanges shut for the holiday, investors took cues from the last full session, when MSCI’s broadest index of Asia Pacific shares outside Japan rose 0.35%.

Crypto traders framed the quieter tape as a liquidity story as much as a macro one. Gabriel Selby, head of research at CF Benchmarks, said Bitcoin remained pinned under a key level as markets drift into the seasonal lull.

“Bitcoin has struggled to break above the $90k level during a busy schedule of macroeconomic data releases, and price action appears to be forming a bearish wedge with downside risk,” he said.

“As we head into the holiday period, trading volumes are following their usual seasonal lull, which typically reinforces the choppy, high-resistance environment currently observed.”

Market snapshot
Bitcoin: $89,127, up 1.5%
Ether: $2,965, up 0.6%
XRP: $1.87, up 0.00%
Total crypto market cap: $3.07 trillion, up 0.9%
Wall Street Records Fuel Year-End Risk AppetiteWall Street’s late-week run kept the mood constructive. The Dow and the S&P 500 closed at record highs on Wednesday in a holiday-shortened session, with the Dow up 0.60% and the S&P 500 up 0.32%.

That same rally fed the seasonal narrative traders keep calling the Santa Claus rally, a window that often draws positioning flows into the final sessions of the year.

In commodities, silver continued to shine after pushing deeper into uncharted territory earlier in the week. Spot silver rose to an all-time high of $74.89 on Friday, driven by strong industrial demand and a supply deficit that has left the market tighter than traders expected.

Defensive Trades Boost Gold And SilverAnalysts tied the move to heavy usage in solar panels, electric vehicles and data centres, while mine supply struggled to keep up, and the metal also drew fresh safe haven demand as geopolitical risks flared.

Gold tracked the same flight to hedges, trading around $4,480 an ounce after setting a record above $4,500, with traders still pricing in a friendlier rate outlook next year.

Geopolitics kept the backdrop tense, with Washington’s pressure on Venezuelan oil flows feeding a wider bid for defensive assets.

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Meanwhile, institutional demand cushioned the downside as the US XRP-spot ETF market extended its inflow streak to 27 consecutive days.

On Friday, December 26, Japanese economic indicators weakened the yen, fueling yen carry trades into risk assets. A less hawkish BoJ rate path and fading bets on a March Fed rate cut would likely keep carry trades profitable, supporting a constructive medium- to longer-term bias.

Below, I will explore the key drivers behind recent price trends, the medium-term (4-8 weeks) outlook, and the key technical levels traders should watch.

Active Accounts Tumble as Crypto Market Languishes in Extreme Fear
XRP has plunged 35.5% in the fourth quarter, potentially snapping a five-quarter winning streak as the year-end approaches.

Fading bets on a Fed rate cut continued to weigh on market sentiment, countering robust institutional demand. The number of active accounts (unique senders) trended lower on December 25, falling from 17,516 on December 24 to 14,636 as investors locked in profits.

XRPUSD – Five Minute Chart – 261225 – Japanese Data
Medium- and Long-Term Outlook: Constructive Bias Intact
A softer Japanese inflation backdrop, strong demand for US XRP-spot ETFs, and progress toward crypto-friendly legislation support a constructive bias.

Considering the current market dynamics, the short-term (1-4 weeks) outlook remains cautiously bullish, with a $2 price target. The medium-term (4-8 weeks) and longer-term (8-12 weeks) outlooks remain constructive, with price targets of $2.5 and $3.0, respectively.

Downside Risks to the Constructive Bias
Several scenarios could derail the positive price outlooks. These include:

The Bank of Japan announces a neutral interest rate of between 1.5% and 2.5%, signaling aggressive rate hikes.
US data and the Fed dampen expectations of a March rate cut.
The MSCI delists digital asset treasury companies (DATs). Delistings would likely reduce interest in XRP as a treasury reserve asset.
US Senate opposes the Market Structure Bill.
XRP-spot ETFs report outflows.

These events would likely send XRP toward $1.75, indicating a bearish trend reversal.

In summary, the short-term outlook remains cautiously bullish as fundamentals oppose the bearish technicals. Meanwhile, the medium- to longer-term outlooks are constructive.

Financial Analysis
Technical Outlook: EMAs Signal Caution
XRP fell 1.55% on Thursday, December 25, following the previous day’s 0.59% loss, closing at $1.8325. The token faced heavier losses than the broader crypto market, which declined 0.81%.

Thursday’s pullback left XRP well below the 50-day and 200-day Exponential Moving Averages (EMAs), indicating a bearish bias. While technicals remain bearish, bullish fundamentals are building, outweighing the technical structure.

Key technical levels to watch include:

Support levels: $1.75, and then $1.50.
50-day EMA resistance: $2.0930.
200-day EMA resistance: $2.3880.
Resistance levels: $2, $2.5, $3.0, and $3.66.

Looking at the daily chart, a break above the $2 psychological level would bring the 50-day EMA into play. A sustained move through the 50-day EMA would signal a near-term bullish trend reversal, opening the door to testing the 200-day EMA and the $2.5 resistance level.

A sustained breakout above the EMAs would reinforce the constructive medium-term outlook and the longer-term (8-12 weeks) $3.0 price target.

Ethereum (CRYPTO: ETH) co-founder Vitalik Buterin said Thursday that Grok’s presence on X is a major boost to the platform’s “truth-friendliness,” second only to community notes.

Buterin Acknowledges Grok’s EfficiencyIn an X post, Buterin praised the “easy ability” to call the AI chatbot for fact-checks on X, deeming it the “biggest thing” after community notes that has been positive for the platform.

“I’ve seen many situations where someone calls on Grok expecting their crazy political belief to be confirmed and Grok comes along and rugs them,” the cryptocurrency mogul shared his observations.

See Also: Elon Musk Says Only AI, Robotics Can ‘Make Everyone Wealthy:’ ‘Doing My Best’

Buterin’s Views On MuskButerin, however, voiced concerns that Grok’s training on human feedback could potentially bias it toward the views of Elon Musk, since the Tesla and xAI CEO owns the social media platform.

But despite the “negative” assumptions about Musk, Buterin felt X is still better than unchecked “third-party slop.”

He invoked the “stationary bandit theory,” arguing that long-term players such as Musk have incentives to promote a level of transparency, unlike short-term opportunists who might be there only to exploit.

This isn’t the first time Buterin has expressed opinions about Musk’s platform. Earlier this month, he criticized X for straying from its intended purpose of promoting free speech, instead becoming a tool for “coordinated hate sessions”. 

Buterin also accused Musk of "actively tweaking" algorithms to boost certain things and deboost others.

Grok 5 In 2026Last month, Musk teased the latest model of his AI venture, Grok 5, due for release in early 2026.

He said the new model will be “extremely” intelligent and fast, adding that he believes there’s roughly a 10% chance it could reach human-level intelligence.

Read Next: 

Jim Cramer Slams ‘Big Freakout’ Selling In Nvidia, AI, Crypto Stocks After Strong GDP Print: ‘It Is Just Stupid’
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Waymo temporarily paused its robotaxi service in the San Francisco Bay Area on Thursday, ahead of expected storms in the area, according to a customer notification in the company's driverless ride-hailing app.

"Service temporarily paused due to National Weather Service flash flood warning," the notification read.

Earlier this week the Alphabet-owned company said it will update its fleet so its robotaxi service is better able to perform during power outages.

On Dec. 20, Waymo paused service during a blackout in San Francisco that left tens of thousands of people in the area without power and caused some of its autonomous vehicles to halt in mid-traffic, contributing to or causing gridlock.

The National Weather Service extended a flood watch for the entire San Francisco Bay Area through Friday 10 p.m. local time.

Waymo didn't immediately respond to a request for comment, or say whether regulators required its service pause on Thursday given the flash flood warnings.

The California Public Utilities Commission — which regulates driverless ride-hailing services in the state — did not immediately respond to requests for information during the Christmas holiday on Thursday.

Waymo currently operates a commercial, driverless service in five U.S. markets, up from three at the end of 2024. Waymo's robotaxi service has been operating in Austin, the San Francisco Bay Area, Phoenix, Atlanta and Los Angeles this year. The company intends to significantly expand its service area across and beyond the U.S. in 2026, CNBC previously reported.

Waymo is facing increased public scrutiny and safety concerns as it attempts to expand its robotaxi service.

Warner Bros. Discovery is signaling that it wants Paramount Skydance chief David Ellison and his multibillionaire father Larry Ellison to increase their $30-per-share, all-cash “hostile” offer for the media conglomerate – and if they’re willing to do so, WBD is ready to negotiate a possible sale to the duo, The Post has learned.

Not so fast, say the people at Paramount Skydance and their partners at RedBird Capital. 

The Ellisons and RedBird, run by savvy media dealmaker Gerry Cardinale, are mulling something known internally as “DefCon 1” – using lingo for the security level when nuclear war is imminent. That plan would entail walking away from the bidding process – including their recent hostile appeal to shareholders – and litigating how WBD’s board handled the process, The Post has learned.

Warner Bros. Discovery is signalling that it wants Paramount Skydance to increase its $30-per-share, all-cash “hostile” offer for the media conglomerate. WBD CEO David Zaslav is pictured. Getty Images
People inside Paramount Skydance allege that directors and management ignored their sixth all-cash offer for the company and favored Netflix’s cash-stock bid throughout the bidding process because of a personal bond between WBD chief David Zaslav and Netflix CEO Ted Sarandos. As this article went to press, they still believed their $78 billion, all-cash offer was far superior to the cash-stock, $82.7 billion winning bid from rival Netflix – and had no intention of increasing the price as they press their case directly to shareholders.

Meanwhile, WBD is expected to formally address Larry Ellison’s personal guarantee backing Paramount’s bid and its impact on the deal process in the coming days. Press reps for WBD, Paramount Skydance and Netflix declined to comment. WBD has in the past denied personal relationships figured in the decision to select Netflix as the winner of the bid war, saying the streaming giant came up with the best offer. 

More From Charles Gasparino
Whatever happens, one thing is certain: The biggest corporate acquisition in recent history has turned into a nasty tug-of-war among the most powerful people in tech and media, with the added complexity of the man in the White House, Donald Trump, hovering above the contretemps.

The president has said he is seeking to render final judgment on who wins out given the size of the deal and the powerful media interests involved, including the future of CNN. Despite its declining audience shares, the outlet remains a powerful journalistic organization that Trump believes carries too many anti-MAGA voices. Whoever ends up winning will need the blessing of Trump’s Department of Justice antitrust division.

This column is based on interviews with people close to all the principals involved in the process following news earlier in the week that Larry Ellison, the Oracle co-founder, appeared to meet a key demand from WBD to personally guarantee Paramount Skydance’s all-cash bid in its entirety with his massive fortune, estimated at $250 billion.

Paramount Skydance is led by CEO David Ellison (above). REUTERS
On top of the fact they’re offering all greenbacks, Paramount Skydance emphasizes it would be buying all of WBD and contends there would be no significant regulatory overlap in their deal. Netflix is moving to buy just WBD’s studio and streaming company, HBO Max. That means layering two of the biggest steamers in the world – and is certain to raise antitrust concerns.

Netflix stock makes up a significant, 16% portion of its bid, which is in flux as the bidding war continues and investors revalue shares to include WBD’s cost and liabilities. 

Another uncertainty for investors: WBD is promising an additional $3 to $4 per share from equity they would receive after the spinoff of WBD’s cable properties – CNN, Discovery and TNT. But the value of those assets are in flux, too – audience shares have been decimated by cord cutting and the new company would have between $15 billion and $18 billion in debt once the spin-off is complete.

Famed investor Mario Gabelli, who holds shares of WBD, has said he likes the Ellisons’ offer and will likely “tender,” or pledge, his shares to Paramount Skydance. Others are waiting to see if the Ellisons will increase their bid. So far, just 400,000 of the 2.6 billion WBD shares have been pledged for Paramount’s offer. 

WBD is expected to formally address the personal guarantee from Larry Ellison, pictured, backing Paramount’s bid and its impact on the deal process in the coming days. AFP via Getty Images
As of this writing, it’s unclear whether the Ellison’s will indeed up their offer as WBD and investors are asking – and while WBD and Paramount continue to throw jabs at each other about the months-long bidding process and which bid is actually superior. 

Just days after WBD announced that Netflix had prevailed over Paramount Skydance, Zaslav and Sarandos were pictured in jeans, blue blazers and sneakers walking the Warner Bros studio lot – a victory-dance image that angered people inside the Ellison camp, who were in the middle of their own hostile appeal to WBD shareholders.

“Who the f–k think do these guys think they are,” said one person close to the Ellisons. “It’s not their company, but the shareholders.’”

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On Monday, the Ellisons took a step to address one of the main concerns WBD made in rejecting its offer and put Larry Ellison personally on the hook for the entire deal if other financing aspects fall apart. Recall: Paramount Skydance is a company with a market value of just under $15 billion, far smaller than WBD’s current $72 billion market capitalization. Also, its financial resources mainly come from equity from outside investors, debt and Larry Ellison’s net worth – initially through something known as a backstop from the “revocable trust” that holds his holdings, mainly of Oracle stock.

WBD contended that making a revocable trust the backstop meant Ellison’s guarantee wasn’t a firm one; Paramount Skydance contended that was a red herring thrown in at the last minute because WBD had begun “exclusive” negotiations with Netflix.

But people at WBD say Zaslav repeatedly met with both Ellisons, spending more time with them than anyone at Netflix, and believed the Netflix offer was superior. To reopen the process, WBD needs to meet all the conditions that Netflix has including specific financing arrangements. They also need to pay more – close to $33 or $34 a share, I am told.

Zaslav and Netflix big Ted Sarandos walking around the WBD lot angered the Ellison camp. Getty Images
“Larry personally guaranteeing the deal is a great start but what [WBD is] saying is if you guys want the company, pay more,” said a person with direct knowledge of their thinking. 

As The Post has reported, the Ellisons and RedBird have discussed increasing their offer by as much as 10%. They believe that they have addressed WBD’s breakup fee of $2.8 billion, or $1 a share, by making it an expense to Paramount – no shareholder would be charged.  

Another possibility, I am told, is Paramount Skydance walking away and letting the Netflix deal play out with uncertain regulatory approval and possibly shareholder litigation if the cable spin-out underperforms.

The last option is “DefCon 1,” and that means filing a lawsuit charging that WBD ran a bidding process that favored an inferior bid from Netflix, say people with direct knowledge of the matter.

“I would love to litigate just to see the emails on how they justify what Netflix put up and what was said between Zaslav and Sarandos,” said one person close to the Paramount Skydance bid.

Wall Street analysts are warming to the idea that the aerospace giant might be a must-buy stock.

Boeing (BA +0.60%) stock received a boost recently when an analyst at heavyweight Wall Street investment firm J.P. Morgan raised the firm's price target to $245 and named the stock a top pick in the sector. The bulls' near-term logic on the stock is sound, but investors should consider longer-term concerns about Boeing before making a purchase.

Boeing's scorecard in 2025
The stock is up almost 21% as of 2025, and has outperformed the S&P 500 by a few percentage points year to date. It's a decent performance and reflects the positive work done by CEO Kelly Ortberg and his team in ramping up production and deliveries of the 737 MAX in 2025.

Today's Change

(

0.60

%) $

1.31

Current Price

$

218.16

The 737 MAX production ramp is the most essential of the three key things the aerospace company needed to do this year. Moreover, Boeing can declare progress on the second key objective: returning the Defense, Space & Security (BDS) segment to profitability while avoiding major charges on its problematic fixed-price development programs. However, the third key objective of keeping the wide-body 777X program on track for first delivery in 2026 wasn't achieved, and management now expects it to occur in early 2027.

I'll run through these issues in reverse order, as they are critical for the investment case in 2026.

Boeing's new wide-body
As a reminder, the original plan for the 777X was to deliver the first aircraft in 2020, and its delay is emblematic of the operational issues Boeing has faced over the last decade. While the spotlight has understandably been on the 737 MAX due to its high-profile crashes and groundings, the importance of the 777X should not be understated. After all, this is the wide-body that Boeing has hoped would usher in a cycle of wide-body investment.

Image source: Getty Images.

The delivery pushout (announced in October) is disappointing, but in mitigation, it could be argued that it's not entirely Boeing's fault. Back in September, Ortberg spoke at a Morgan Stanley conference and told investors, "We are falling behind on the certification" with the Federal Aviation Administration (FAA) for the 777X. Fast-forward to November, and a technical issue with the GE9X engine, made by GE Aerospace, is reported to have led to the suspension of 777X flights.

While the $4.9 billion charge taken due to the delay is noncash, there may be a cash impact in 2027 as Boeing may need to pay concessions to customers for delivery delays. Moreover, the delay in delivery will cost Boeing cash, as it will require maintaining inventory and keeping production lines open for another year without actually delivering 777X aircraft.

The bottom line is that the 777X delivery delay is not good news and will lead to unplanned cash outflows going forward.

Boeing's defense business
The chart below says a lot. BDS has struggled in recent years, alongside other major defense contractors, with fixed-price development programs. Although they account for only about 15% of BDS's business, the lengthy overruns and cost increases have led to a succession of multibillion-dollar charges over the years.

As such, the return to profitability (albeit with a wafer-thin 1.9% operating profit margin over the first nine months) is a welcome development.

Data source: Boeing presentations. Chart by author.

That said, in December, the Air Force pushed back its estimate for the first delivery of two Air Force One jets (one of four problematic fixed-price development programs for Boeing) by a year to mid-2028. Again, this will likely result in some cash outflow, and serves as a reminder that Boeing is not quite clear of issues on these programs.

The 737 MAX is back on track
Saving the best news for last, Boeing managed to stabilize production at a rate of 38 a month on the 737 MAX in 2025. Furthermore, the FAA approved a hike in Boeing's production rate to 42 a month in mid-October. Ortberg plans to increase the rate by five aircraft a month every six months.

As such, the narrative around Boeing Commercial Airplanes (BCA) could shift from struggling to hit 38 a month at the start of 2025 to hitting 52 a month by the end of 2026.

Image source: Boeing.

Is Boeing a top stock for 2026?
Given the importance of the 737 MAX and the potential for positive production news flow throughout the year, Boeing is well-positioned for an excellent year. Boeing has an order book of more than 4,700 of its 737 MAX aircraft, and eating into that is the key management objective. Meanwhile, despite the recent disappointment with Air Force One, BDS is making progress, and expectations for the 777X have now been lowered.

It's shaping up to be a positive year for Boeing, but its execution record at BDS and on the 777X is not unblemished in 2025, and similar issues could arise in 2026. Therefore, Boeing is perhaps not a "top pick" but more of a cautious buy.

Short-Term Pullback Risk and Support Levels
In the short-term, however, a pullback to test prior resistance as support – the first pullback after the breakout – is a risk. A first, more significant upside target at 127.2.% extension of the prior pullback is at $4,516. That is essentially a match to the high for the week to date, especially given a mild bearish reaction that followed Wednesday’s high. The prior high of $4,381, along with the 10-day average, now at $4,360 and rising, presents a first more significant potential support zone. A bullish reversal ending a pullback higher than $4,381, would suggest sustained strong support.

Current Advance Could Be Early in Larger Leg Up
When considering prior upswings in the price of gold, the current eight-week advance may still be early in the current leg up that began from the October swing low, given gains seen since then. Out of the four prior new trend highs sustained since 2024, time ranges are indicated at 5 and 6 weeks, and then at 11 and 12 weeks. Keep in mind that the first week of a new high breakout has yet to complete. This leaves potential in time and price.

Momentum Strength and Next Upside Targets
In addition to the rising slope of the bull trend, strong bullish momentum is indicated by a successful second breakout through the top of a rising trend channel. This confirms strength in the current advance. At the same time, it shows the price becoming further extended. Nevertheless, the potential for a continuation of the trend with a higher rate of change is suggested by the pattern. The next upside target for gold is at the 161.8% projection of a rising ABCD pattern. Further up is a large confluence zone starting at $4,664 and up to $4,713.

For a look at all of today’s economic events, check out our economic calendar.

NEW YORK, Dec. 25, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Integer Holdings Corporation (NYSE: ITGR) between July 25, 2024 and October 22, 2025, both dates inclusive (the “Class Period”), of the important February 9, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Integer common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Integer class action, go to https://rosenlegal.com/submit-form/?case_id=49170 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 9, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Integer materially overstated its competitive position within the growing electrophysiology (“EP”) manufacturing market; (2) despite Integer’s claims of strong visibility into customer demand, Integer was experiencing a sustained deterioration in sales relating to two of its EP devices; (3) in turn, Integer mischaracterized its EP devices as a long-term growth driver for its cardio and vascular (“C&V”) segment; (4) as a result of the above, defendants’ positive statements about Integer’s business, and operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Integer class action, go to https://rosenlegal.com/submit-form/?case_id=49170 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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JFrog’s stock has already doubled, but the latest earnings show why some investors are leaning in rather than locking gains.

On November 13, New York City-based Shannon River Fund Management disclosed a purchase of 647,140 shares of JFrog Ltd. (FROG +0.23%), boosting its position by approximately $31.38 million.

What HappenedAccording to a Securities and Exchange Commission (SEC) filing dated November 13, Shannon River Fund Management LLC increased its stake in JFrog Ltd. (FROG +0.23%) by 647,140 shares during the third quarter. The value of the fund’s position rose by $31.38 million, bringing its total holding to 863,924 shares worth $40.89 million as of September 30.

What Else to KnowThis purchase raised JFrog Ltd. to 6.58% of the fund’s 13F AUM, but it remains outside the top five reported holdings.

Top holdings after the filing: 

NASDAQ:PEGA: $79.59 million (12.8% of AUM)NASDAQ:TSEM: $69.56 million (11.2% of AUM)NASDAQ:IDCC: $61.70 million (9.9% of AUM)NASDAQ:WIX: $58.63 million (9.4% of AUM)NASDAQ:FLEX: $49.24 million (7.9% of AUM)As of Wednesday, JFrog Ltd. shares were priced at $66.81, up 119% over the past year and well outperforming the S&P 500, which is up 15% in the same period.

Company OverviewMetricValuePrice (as of Wednesday)$66.81Market Capitalization$7.90 billionRevenue (TTM)$502.61 millionNet Income (TTM)($79.81 million)Company SnapshotJFrog Ltd. offers a comprehensive DevOps platform, including products such as Artifactory (package repository management), Pipelines (CI/CD automation), Xray (security scanning), and device management solutions for IoT fleets.JFrog serves technology, financial services, retail, healthcare, and telecommunications organizations seeking to streamline and secure their software supply chains.The company operates a subscription-based business model, generating revenue from software licenses, support services, and enterprise solutions for both cloud and on-premises deployments.JFrog Ltd. is a technology company specializing in software development lifecycle solutions with a focus on automating, securing, and managing the delivery of software at scale. Its platform is widely adopted by enterprise clients requiring robust DevOps infrastructure to support continuous integration and delivery. The company's strategy centers on providing end-to-end tools that address critical needs in software package management, security, and distribution.

Foolish TakeJFrog’s performance in the third quarter shows why a fund might be leaning in amid some pretty staggering gains. In its latest results, the company delivered $136.9 million in revenue, up 26% year over year, with cloud revenue jumping 50% and now accounting for nearly half of total sales. Non-GAAP operating income came in at $25.6 million, translating to an 18.7% margin, while free cash flow reached $28.8 million for the quarter. Net dollar retention held at a strong 118%, and the number of customers spending more than $1 million annually climbed to 71. Those metrics are the markers of a platform becoming embedded.

So how does that compare to the fund? Its largest holdings include mature compounders like Pegasystems and Tower Semiconductor, and making JFrog a mid-single-digit percentage of assets suggests confidence in durability, not a short-term trade.

Nevertheless, valuation risk is real after a 119% run, but businesses that combine accelerating cloud adoption, expanding enterprise spend, and rising cash generation rarely get cheap again once the market fully catches on.

Glossary13F: A quarterly report filed by institutional investment managers disclosing their equity holdings to the SEC.
Assets Under Management (AUM): The total market value of investments managed by a fund or investment firm.
Position: The amount of a particular security or asset held by an investor or fund.
Top Holdings: The largest investments in a fund's portfolio, typically ranked by value.
DevOps: A set of practices combining software development and IT operations to shorten development cycles and improve reliability.
CI/CD: Continuous Integration and Continuous Delivery/Deployment; automating software building, testing, and releasing processes.
Package Repository Management: Tools or systems for storing, organizing, and distributing software packages used in development.
Security Scanning: Automated analysis of software for vulnerabilities or security risks.
IoT Fleets: Groups of Internet of Things (IoT) devices managed collectively, often remotely.
Software Supply Chain: The sequence of processes involved in developing, securing, and delivering software products.
End-to-End Tools: Solutions covering all stages of a process, from start to finish, within a workflow.
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 Wix.com. The Motley Fool recommends Flex and JFrog. The Motley Fool has a disclosure policy.

, /PRNewswire/ --

Why: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Tandem Diabetes Care, Inc. (NASDAQ: TNDM) resulting from allegations that Tandem Diabetes Care may have issued materially misleading business information to the investing public.

So What: If you purchased Tandem Diabetes securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=19024 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

What is this about: On August 7, 2025, before the market opened, the company issued a press release entitled "Tandem Diabetes Care Issues Voluntary Medical Device Correction for Select t:slim X2 Insulin Pumps." The release stated that Tandem Diabetes had "announced a voluntary medical device correction for select t:slim X2 insulin pumps to address a potential speaker-related issue that can trigger an error resulting in a discontinuation of insulin delivery."

On this news, Tandem Diabetes' stock fell 19.9% on August 7, 2025.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.

Gold edged higher in the morning Asian session amid geopolitical risks.

Is Netflix still a powerhouse in the streaming industry? Join us as we break down the company's strengths and weaknesses in this insightful analysis.

Explore the exciting world of Netflix (NFLX +0.15%) with our contributing expert analysts in this Motley Fool Scoreboard episode. Check out the video below to gain valuable insights into market trends and potential investment opportunities!
*Stock prices used were the prices of Nov. 19, 2025. The video was published on Dec. 25, 2025.

Anand Chokkavelu has positions in Netflix. Jason Hall has no position in any of the stocks mentioned. Travis Hoium has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Netflix. The Motley Fool has a disclosure policy.

Oil edged higher in the morning Asian session amid geopolitical tensions.

NEW YORK, Dec. 25, 2025 (GLOBE NEWSWIRE) -- Leading international securities law firm Bleichmar Fonti & Auld LLP announces that a class action lawsuit has been filed against CarMax, Inc. (NYSE: KMX) and certain of the Company’s senior executives for securities fraud after a significant stock drop resulting from the potential violations of the federal securities laws.

If you invested in CarMax, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases/carmax-inc-class-action-lawsuit.

Investors have until January 2, 2026, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in CarMax securities. The case is pending in the U.S. District Court for the District of Maryland and is captioned Jason Cap v. CarMax, Inc., et al., No. 1:25-cv-03602.

Why is CarMax Being Sued For Securities Fraud?

CarMax sells used cars. During the relevant period, the Company touted the strong and sustainable demand for its cars, driven by factors such as a seamless customer experience.

As alleged, in truth, it appears that the announcement of U.S. tariffs imposed on cars provided a short-term boost to demand, as customers purchased cars prior to the tariffs taking effect.

BFA Law is also investigating the unexpected departure of CEO Bill Nash on November 6, 2025, and whether CarMax properly assessed or reserved for its portfolio of car loans.

Why did CarMax’s Stock Drop?

On September 25, 2025, the Company reported disappointing financial results for the second quarter of its fiscal year 2026. Specifically, CarMax announced sales declines across the board, including a 5.4% decline in retail used unit sales, a 6.3% decline in comparable store used unit sales, and a 2.2% decline in wholesale units. The Company also posted a disappointing second quarter net income of about $95.4 million, down from $132.8 million over the prior year. A main reason for the declines, according to CarMax, was a “pull forward” in demand into the first fiscal quarter due to the announcement of tariffs.

On this news, the price of CarMax stock dropped $11.45 per share, or roughly 20%, from $57.05 per share on September 24, 2025, to $45.60 per share on September 25, 2025.

Then, on November 6, 2025, CarMax announced the unexpected departure of CEO Bill Nash and a weak preliminary Q3 2025 outlook. On this news, the price of CarMax stock dropped over 24%.

Click here for more information: https://www.bfalaw.com/cases/carmax-inc-class-action-lawsuit.

What Can You Do?

If you invested in CarMax you may have legal options and are encouraged to submit your information to the firm.

All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.

Submit your information by visiting:

https://www.bfalaw.com/cases/carmax-inc-class-action-lawsuit

Or contact:
Ross Shikowitz
[email protected]
212.789.3619

Why Bleichmar Fonti & Auld LLP?

BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named “Elite Trial Lawyers” by the National Law Journal, among the top “500 Leading Plaintiff Financial Lawyers” by Lawdragon, “Titans of the Plaintiffs’ Bar” by Law360 and “SuperLawyers” by Thomson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, please visit https://www.bfalaw.com.

https://www.bfalaw.com/cases/carmax-inc-class-action-lawsuit

Attorney advertising. Past results do not guarantee future outcomes.