Market Signal Briefing

Analysts say geopolitical risks and policy uncertainty are pushing investors into metals, while Bitcoin trades like a risk asset.

Gold and silver have continued climbing through December 2025 as Bitcoin (BTC) trades sideways, reflecting a clear split in how investors are positioning across safe and risk assets.

The difference shows a larger change in how the market is acting, with investors choosing precious metals when things are uncertain, while Bitcoin is facing lower activity and weaker demand.

Safe Assets Pull Ahead as Bitcoin Stalls
Recent commentary from XWIN Research Japan described the current setup as a prolonged consolidation phase for Bitcoin following a high-level correction.

Over about three months, the prices of gold and silver have kept pushing higher, while BTC has remained largely range-bound. XWIN analysts attributed this gap to geopolitical tension, policy uncertainty, and expectations for lower real interest rates, conditions that traditionally benefit precious metals with long-standing institutional demand.

Silver has also outperformed gold at times, helped by tighter supply and stronger sensitivity to speculative positioning. Meanwhile, according to XWIN, Bitcoin has continued to trade more like a high-volatility risk asset than a defensive store of value, and in risk-off environments, funds often rotate first into gold and government bonds, leaving BTC as a secondary choice rather than a primary hedge.

On-chain data adds weight to this narrative, with CryptoQuant figures referenced by XWIN showing Bitcoin’s apparent demand turning negative. It means fresh buying interest has not kept pace with supply, even as prices stayed elevated. Furthermore, extended periods of the short-term holder SOPR below 1 suggest many recent buyers are selling at a loss or close to break-even, creating pressure for the price during rebounds.

That weakness fits with a broader cooling in network activity. Analyst CryptoOnchain recently noted that Bitcoin’s 30-day average of active addresses has fallen to about 807,000, the lowest level this year. Additionally, exchange data from Binance shows both depositing and withdrawing addresses sliding to similar lows. According to the market observer, long-term holders are not rushing to sell, but aggressive accumulation has also paused, leaving the market in a standstill.

You may also like:

Corporate Bitcoin Buyers Step in as DATs Add Most BTC Since July: VanEck

Ethereum Leads the Charge as Investors Pull $555 Million Amid Clarity Act Uncertainty

Quantum Panic Over Bitcoin (BTC) Is Premature, but the Clock Is Still Ticking

Price Action, ETFs, and the Longer-Term Outlook
Bitcoin’s muted performance comes after a difficult end to the year. As CryptoPotato reported, BTC is heading for its weakest fourth quarter since 2018, down nearly 22%, with prices trading between $85,000 and $90,000. However, not all analysts view the consolidation as purely negative. Crazzyblockk argued that spot Bitcoin ETF flows still provide underlying support. Using an ETF Flow Impact Score model, they showed that Bitcoin’s current price sits close to an estimated fair value of around $88,000, suggesting little speculative excess compared to earlier in the year.

This outlook contrasts with sentiment around metals, amplified by figures like Peter Schiff, who celebrated gold breaking above $4,400 yesterday and questioned whether $5,000 gold would arrive before a huge Bitcoin drop. But while such debates continue, the data shows a simpler story: gold and silver have benefited from steady safe-asset demand, while Bitcoin has had to wait for stronger participation to return before its next decisive move.

Tags:

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Privacy coin Zcash (ZEC) is attracting attention from market participants as ZEC registered a 1,374% in liquidation imbalance within the last 12 hours. This development has dampened the mood of bulls, who were betting on a price rally for the asset.

Zcash’s sharp pullback triggers heavy long liquidationsAccording to CoinGlass data, long position traders saw $1,440,000 wiped out within this time frame as the price refused to soar.

Zcash has been gaining traction among holders who find the privacy feature appealing, given regulatory concerns on the broader crypto market.

Additionally, the coin has displayed impressive numbers, emerging as the best performer around mid-December 2025. Zcash’s boost occurred when the larger part of the crypto market stagnated, fueling the confidence of investors to bet on the asset.

It is worth mentioning that the confidence was rooted in evidence. Notably, Zcash soared by 28% within one week while other privacy coins struggled. So, the optimism of bulls was based on precedent, but current market volatility has left them with losses.

Zcash dropped from an intraday peak of $455.22 to a low of $414.06. This accounts for the massive liquidation imbalance noticed with the privacy coin. As of this writing, Zcash is changing hands at $418.86, down by 6.62% in the last 24 hours.

The asset’s trading volume has also entered the red zone, down by 0.17% to $589.72 million within the same period.

Although Zcash’s plunge remains single-digit in percentage terms, it is a source of concern to investors. There have been bullish conversations about the possibility of ZEC soaring to $500 before 2025 ends. However, the current liquidation casts doubt on positive expectations.

You Might Also Like

Meanwhile, bears also suffered losses as short position traders lost $97,690 when ZEC dipped. The drop below $415 support could have triggered the significant losses recorded by bearish traders.

ZEC ETF Speculation Keeps Long-Term Sentiment IntactDespite the current volatility and mixed signals, the Zcash community sentiment remains bullish. 

The exchange-traded fund (ETF) S-3 registration filed by Grayscale suggests that ZEC is gaining institutional interest in the broader financial space.

If approved by the regulatory commission, it would mark the first Zcash ETF in the U.S. With its market cap currently over $6.8 billion, increased institutional interest could nudge it towards the $10 billion mark in a couple of years.

TL;DR

Corporate Buying: DATs added 42,000 BTC in December, marking their strongest accumulation since July 2025 and signaling renewed confidence from institutional treasuries.
Market Weakness: Despite Bitcoin’s worst Q4 since 2018 with a 22% plunge, treasuries now hold 1.09M BTC worth $96.6 billion, showing resilience in corporate balance sheets.
Hashrate Tailwind: VanEck highlights that declining hashrate reduces mining difficulty, potentially boosting profitability and supporting Bitcoin’s recovery alongside corporate demand.

Bitcoin markets are showing signs of resilience as corporate treasuries and institutional buyers step in during recent volatility. VanEck’s latest ChainCheck report highlights two converging dynamics: a surge in Bitcoin Digital Asset Treasury (DAT) purchases and a notable decline in network hashrate. Together, these factors are reshaping sentiment at the close of 2025, suggesting that corporate accumulation and mining trends could provide a stabilizing tailwind for BTC.

DATs Accelerate Purchases
VanEck reported that DATs added 42,000 BTC between mid‑November and mid‑December, marking a 4% month‑over‑month increase. This represents their largest accumulation since July 2025, when treasuries absorbed 128,100 BTC. The renewed buying comes amid market weakness, signaling confidence from corporate holders. In total, DATs now control 1.09 million BTC, valued at approximately $96.6 billion, equal to 5.5% of the total supply. Analysts noted that many treasuries entered late in the cycle, with several seeing their mNAVs dip below 1.0x, yet the scale of accumulation underscores their long‑term conviction.

Corporate Confidence Despite Weakness
The timing of these purchases reflects a strategic move by corporate treasuries to capitalize on discounted prices. While Bitcoin suffered its worst Q4 since 2018, plunging nearly 22%, institutional buyers treated the downturn as an opportunity. VanEck emphasized that such aggressive buying during weakness highlights the role of corporate balance sheets in cushioning volatility. The presence of large treasuries signals a shift in market structure, where corporate entities are no longer passive observers but active participants shaping liquidity.

Hashrate Decline as Tailwind
Parallel to treasury accumulation, VanEck flagged a declining Bitcoin hashrate as a potential bullish catalyst. Lower hashrate reduces mining difficulty, easing pressure on miners and potentially improving profitability. This dynamic can stabilize network health while encouraging continued participation. VanEck suggested that the decline could serve as a tailwind for BTC prices, particularly when combined with corporate demand. The interplay between mining conditions and treasury accumulation creates a supportive environment for recovery.

Outlook for 2026
Looking ahead, VanEck’s analysis positions corporate treasuries and mining trends as critical drivers for Bitcoin’s trajectory. With DATs holding over $96 billion in BTC and network hashrate trending lower, the stage is set for renewed momentum. While risks remain, including regulatory uncertainty and macroeconomic headwinds, the dual forces of institutional accumulation and mining recalibration could underpin Bitcoin’s resilience entering 2026.

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

According to VanEck analysts, Bitcoin’s hashrate fell 4% over the month to Dec. 15. That move has caught the attention of market watchers because past instances of hashrate declines have often come before price gains.

VanEck’s Matt Sigel and Patrick Bush point to historical patterns: when hashrate fell over the prior 30 days, Bitcoin’s 90-day forward returns were positive 65% of the time, compared with 54% when hashrate rose. Numbers matter here, and traders are treating them as part of the evidence mix.

Hashrate Compression Can Signal Recoveries
Reports have disclosed that longer windows look better for bulls. When hashrate contracted and stayed low, the odds of a recovery improved over wider horizons. Negative 90-day hashrate growth was followed by positive 180-day Bitcoin returns 77% of the time, with an average gain of 72%.

Source: VanEck
The math is clear and the pattern is consistent enough to make investors take notice. Miner economics add to the story: the break-even electricity price on a 2022-era Bitmain S19 XP dropped nearly 36% from $0.12 per kilowatt-hour in Dec. 2024 to $0.077/kWh by mid-December. That shift squeezes margins and forces marginal operators to rethink their rigs.

Miners Exit, Markets Watch
Some capacity has left the network. VanEck tied the recent 4% decline to a shutdown of roughly 1.3 gigawatts of mining power in China. Analysts also warn that rising demand for AI compute could pull capacity away from Bitcoin, a trend they estimate might erase 10% of the network’s hashrate.

BTCUSD now trading at $87,533. Chart: TradingView
That would redistribute mining activity and could concentrate operations where power and policy align. At the same time, support for mining has not disappeared worldwide. Based on reports, up to 13 countries are backing mining activities, including Russia, Japan, France, El Salvador, Bhutan, Iran, UAE, Oman, Ethiopia, Argentina, and Kenya.

Price And Market Context
Bitcoin is trading near $88,600, down nearly 30% from its Oct. 6 all-time high of $126,080. Markets have been quiet around year-end and thin liquidity can hide real momentum.

Source: VanEck
BTC was monitored as steady near $89K in recent coverage and remained range-bound as traders weighed supply and demand signals. Other cross-asset moves matter too. Gold climbed above $4,400/oz while silver reached $69.44/oz, moves that some investors see as part of a broader safe-haven bid.

The data points suggest a cautious optimism. Miner capitulation has worked as a contrarian signal historically — weaker miners exit, difficulty adjusts, and surviving operators face less near-term selling pressure. That sequence can set the stage for price stabilization and gains over months.

Featured image from Pixabay, 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.

Sign Up for Our Newsletter!
For updates and exclusive offers enter your email.

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

The crypto market in 2025 looked nothing like it did in 2021. No parabolic rallies, no Reddit threads going vertical, no NFT floor prices exploding, Google Trends stayed quiet.

Instead, the dominant crypto narrative of 2025 was written in 13F filings, custody agreements, and tokenized Treasury flows.

BlackRock's spot Bitcoin ETF (IBIT) held 776,100 BTC as of Dec. 22, JPMorgan launched a tokenized money market fund seeded with $100 million, and Broadridge processed $7.4 trillion in tokenized repo transactions in November, up 466% year-over-year.

The retail mania that defined the last cycle vanished, replaced by Wall Street taking custody of the asset class.

ETFs became the gatewayCrypto exposure for pensions, registered investment advisors, and corporate treasuries now flows primarily through ETFs rather than spot exchanges.

A recent CoinShares report noted that crypto ETPs pulled in about $46.7 billion in year-to-date net inflows as of Dec. 18.

Crypto ETPs recorded $46.7 billion in year-to-date inflows through December 20, with Bitcoin leading at $27.2 billion despite recent weekly outflows. Image: CoinSharesBitbo data shows US spot Bitcoin ETFs hold 1.3 million BTC, equivalent to $115.4 billion in assets under management and 6.2% of Bitcoin's circulating supply.

BlackRock's IBIT dominates. With $66 billion in AUM and 776,100 BTC, the fund represents over half the US spot Bitcoin ETF market.

That is not a retail product, it is a vehicle designed for asset allocators who need regulatory wrappers and daily NAV reporting without touching private keys.

Daily price coverage reflects this shift. In early December, reports framed Bitcoin's grind back toward $90,000 almost entirely through ETF flows and volatility, not Coinbase retail volumes or Binance perpetual liquidations.

Weekly flow notes track ETF inflows as a key macro signal, just as bond and equity ETFs do.

A Banque de France paper used SEC 13F filings to analyze how US institutions have accumulated BTC and ETH exposure via ETFs, the sort of central bank research note written when an asset class moves from “weird” to “systemically relevant.”

Trading volumes went institutionalFunds and market-making firms increasingly dominate centralized exchange order books. Nansen's analysis found that institutional clients accounted for nearly 80% of total CEX trading volume in 2025.

Bitget reported that institutions accounted for 80% of its volume by September, up from 39% in January, and that it averaged about $750 billion in monthly trading.

Institutional funds dominate crypto exchange trading volumes, with firms like QCP Capital, Manifold Trading and Digital Finance Group leading across major platforms. Image: Nansen/BitgetSurveys confirmed the pattern. An EY-Coinbase survey found 83% of respondents plan to increase crypto allocations in 2025, with 59% expecting to allocate more than 5% of AUM.

AIMA's hedge fund report showed 55% of traditional hedge funds now have digital asset exposure, up from 47% a year earlier. Statistically, most trading and the marginal new buyer in 2025 are institutional.

Banks built the pipesThe infrastructure layer is now owned by big banks rather than crypto-native firms.

Galaxy Research flagged 2025 as the year when BNY Mellon, State Street, JPMorgan, and Citi moved from pilots to live digital asset services, bringing more than $12 trillion in AUM worth of client relationships into the market.

JPMorgan launched MONY, a tokenized money market fund whose shares exist as tokens on Ethereum and can be bought with USDC. Additionally, JPMorgan is evaluating a dedicated crypto trading service for institutional clients, while Morgan Stanley is preparing to offer crypto trading on E*Trade in 2026.

Goldman Sachs and BNY Mellon teamed up to issue tokens representing shares in traditional money market funds.

The US GENIUS Act, signed into law in July, created the first comprehensive federal regime for dollar stablecoins, requiring 100% cash and Treasury backing.

Treasury and the FDIC are writing rules allowing bank subsidiaries to issue stablecoins under that framework. In 2021, “infrastructure” meant offshore exchanges. In 2025, it means FDIC-regulated banks and custody giants.

Capital markets moved onto crypto railsThe big growth area in 2025 was not memecoins, but rather tokenized Treasuries and private credit.
RedStone's report showed RWA tokenization jumping from about $5 billion in 2022 to more than $24 billion by June 2025, a 380% increase.

BlackRock's BUIDL, a tokenized US Treasury fund, is now north of $1.74 billion and leads the nearly $9 billion tokenized US treasuries market, according to rwa.xyz. In mid-2025, BUIDL tokens were accepted as collateral on Crypto.com and Deribit, and crypto derivatives traders are literally posting tokenized Treasuries to take risk.

In nearly the same period, Binance partnered with Circle to allow institutional investors to use the money fund USYC as collateral for derivatives.

Broadridge's repo platform processed $7.4 trillion in tokenized repo transactions in November, up 466% year over year. As of Dec. 19, they had already processed over $6 trillion in repo turnover, according to data from rwa.xyz.

LSEG completed its first fully blockchain-powered fundraising for a private fund. UniCredit issued its first tokenized structured note. The World Economic Forum devoted a 2025 flagship report to asset tokenization, treating it as the “next generation of value exchange.”

What does it mean for the future?Against all of that institutional build-out, the classic 2021 signals of retail FOMO collapsed.

NFT trading volumes have fallen from nearly $16.5 billion in 2021 to just $2.2 billion in 2025. Google Trends data showed that while searches for “Bitcoin” remained steady, they sat well below 2020-21 mania levels, registering around 24 out of 100 on a five-year view.

The FCA found that fewer UK adults hold crypto, but average ticket sizes are higher. This suggests fewer small gamblers, more “professionalized” users. The price level looked like a bull cycle, but the vibe was not Reddit and Discord, but rather iShares factsheets and 13F filings.

The institutional takeover of 2025 created a crypto market that looks structurally different from any prior cycle: access shifted to ETFs, market microstructure shifted to institutional traders, and infrastructure shifted to banks and custodians.

All of this happened while retail proxies collapsed, with NFT volumes down 87%, Google search interest at generational lows, and fewer small-ticket holders.

The question is whether this institutional dominance is bullish or bearish. Slower, stickier capital from pensions should provide more durable support than leverage-driven retail froth.

Yet, explosive upside depends on reflexive mania, not quarterly rebalancing. What 2025 proved is that crypto can scale without retail mania. Still, it scales into something less volatile, more legible, and entirely controlled by the same institutions that dominate every other asset class.

Whether that's the maturation the industry needed or the capture it always feared is now the open question.

Mentioned in this article

Posted In: US, Crypto, ETF, RWA

DOGE has experienced a 9% decline in the past 30 days alone as market sentiment failed to improve after the Federal Reserve's latest rate cut. Meanwhile, the latest price action favors a bearish Dogecoin price prediction after a break below a key support.

ADA

BNB

XRP

Ad Disclosure

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Ad Disclosure

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Author

Alejandro Arrieche

Author

Alejandro Arrieche

Part of the Team Since

Dec 2024

About Author

Alejandro is a seasoned financial analyst and adept business expert with over seven years of experience in dissecting complex business topics and vital market trends. His insightful writing, which has...

Has Also Written

Ad Disclosure

Ad Disclosure

We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More

Last updated: 

December 23, 2025

The market cap of cryptocurrencies is once again dropping below the $3 trillion mark ahead of Christmas.

In the midst of this turmoil, here are 4 tokens that could be considered the best cryptos to buy now based on their latest price action and robust fundamentals.

#1 – XRP (XRP)XRP (XRP) has been resilient to the latest downturn and has booked a mild 8.5% loss in 2025. In contrast, other altcoins like Solana (SOL) have shed over a third of their value.

Source: TradingViewThe latest price action shows that XRP just bounced off a key trend line support and is once again recovering after hitting the $1.9 mark.

This is a relevant demand zone from which XRP has bounced off strongly in the past. If the price climbs above $2.2 in the next few days, this could set XRP on course to $3.

#2 – Cardano (ADA)Cardano (ADA) has experienced big losses recently. However, it could be ready for a rebound as it approaches a former area of strong accumulation.

Source: TradingViewThe launch of the privacy-focused Midnight L2 could kickstart a new era for this blockchain project.

The price action shows that a descending price channel has formed as a result of ADA’s bearish behavior since early October.

Investors accumulated ADA tokens heavily within the $0.30 and $0.35 range. Hence, this is a key area to watch from which the price could bounce off if buying interest persists.

A break above $0.40 would confirm a trend reversal and could set ADA on track to recover to at least $0.60, meaning a 50% upside potential in the near term.

#3 – BNB Coin (BNB)Last but not least, BNB Coin (BNB) surprised the market this year after making a new all-time high at $1,360.

Source: TradingViewAs a result, it is the top-performing token in the top 5 despite the recent downturn, with year-to-date (YTD) gains of 21.5%.

BNB has found strong support at $825 and has bounced off this level multiple times. As a result, a descending triangle has formed.

As the price compresses, the market will likely make a decision on the trajectory that BNB will take moving forward in the next few days.

A decisive move above $900 would confirm a bullish outlook that could set BNB Coin on track to hit $1,000 first and then $1,360 if enough positive momentum builds up.

#4 – SUBBD (SUBBD)Well-established tokens are not the only ones that offer attractive upside potential as top crypto presales like SUBBD (SUBBD) could outperform the market.

This project changes the game for influencers and content creators by leveraging the power of Web 3 and artificial intelligence.

SUBBD ($SUBBD) is building a creator-focused platform designed to simplify how content is made, managed, and monetized.

Instead of juggling multiple AI tools, editors, and payment systems, SUBBD aims to put everything in one place.

Creators can generate content by using AI, edit it, and publish directly on the platform. Fan engagement is also baked in, with Web3 features that unlock new ways to interact, subscribe, and support creators.

Payments run through the $SUBBD token, which is used for subscriptions, exclusive content, staking, and other platform actions.

To buy $SUBBD at its presale price, simply head to the official SUBBD website and link up a compatible wallet (e.g. Best Wallet).

You can either swap USDT or ETH for this token or use a bank card instead.

Visit the Official SUBBD Website Here

Follow us on Google News

TL;DR

Bitcoin failed to break above $90,000 and retraced to $87,830, triggering $250 million in liquidations, almost $200 million of which were long positions.
Altcoins felt the pressure: Ethereum trades at $2,960, while SOL, TRX, DOGE, ADA, XRP, and BNB fell between 0.4% and 3%.
Only HASH rose 8.4% and Rain gained 6.5%, while NIGHT dropped 21% and PUMP declined 13%.

Bitcoin failed to surpass $90,000 and pulled back, dragging the broader market down. In the past 24 hours, most cryptocurrencies traded lower amid a period of high volatility and low speculative activity. Attempts by BTC and leading altcoins to reclaim key technical levels failed again just before the end of 2025.

Bitcoin reached a high of $90,536 but could not hold that level and is now trading around $87,830, down 2.5%. Liquidations over this period totaled roughly $250 million, a 27% increase from the previous day. Nearly $200 million of that came from long positions, according to Coinglass data.

This pullback leaves Bitcoin on track to close the fourth quarter with a loss of about 22%, its weakest Q4 performance since the 2018 bear market. The combination of on-chain signals, macro pressure, and reduced speculative activity suggests a fragile short-term outlook.

The Market Faces Bitcoin’s Bearish Pressure
Altcoins follow the same pattern. Ethereum failed to hold above $3,000 and currently trades near $2,960, showing losses similar to BTC. SOL, TRX, DOGE, ADA, XRP, BNB, and other altcoins dropped between 0.4% and 3%.

Only a few assets moved against the trend. HASH from Provenance Blockchain rose 8.4%, followed by Rain with a 6.5% gain. In contrast, NIGHT fell 21% after a bullish month, while PUMP, the native token of Pump.fun, dropped 13% over the same period.

The market shows a weak consolidation pattern with frequent corrections. Bitcoin struggles to hold key psychological levels, and the effect extends to altcoins, generating significant liquidations and limiting market recovery. Current figures indicate that, despite occasional rallies, selling pressure and volatility could persist at least through the final days of the year.

The DeFi space has entered a crucial phase wherein the two popular platforms are facing governance issues. Curve DAO and Aave, both protocols, have entered an active dispute over the revenue share. As a result, the AAVE price has come under selling pressure, while the CRV price has maintained a substantial ascending trend. In times when the traders are dealing with these tokens differently, the impact on the prices of the cryptos needs to be closely watched. 

Governance stress exists in both, but it’s not the same kindAt first glance, Curve and Aave appear to be facing a similar problem: disagreements between token holders and core contributors. Dig deeper, and the nature of that friction diverges sharply.

In the case of Curve DAO, recent governance debate has focused on developer funding, treasury transparency, and DAO oversight. These discussions are messy but familiar in mature DAOs. Importantly, they do not threaten Curve’s core economic engine—stablecoin liquidity, trading volumes, and fee generation remain intact.

By contrast, Aave is dealing with a governance dispute that touches the most sensitive area possible: revenue ownership and control. Questions around where protocol-linked fees flow, who controls key assets, and how decisions are pushed through governance have raised concerns about alignment between the DAO and the core development entity.

Markets tend to tolerate procedural noise. They react far more aggressively when economic clarity is questioned.

Why Markets Are Treating CRV and AAVE Very DifferentlyDespite both protocols facing governance tension, traders are reacting to price behavior at key levels, not just headlines. AAVE is trading near $151.44, down 4.79% in the last 24 hours, and price action remains heavy. Each intraday bounce has failed to hold, signaling that sellers are using rallies to exit rather than build positions. This keeps AAVE locked in a short-term distribution phase.

By contrast, CRV is holding around $0.3688, up a modest 0.9% on the day. While the move is not explosive, the key difference is stability. CRV has avoided sharp sell-offs and is consolidating rather than breaking down, suggesting supply is being absorbed near current levels.

Both tokens are experiencing diverse price action, and hence, it would be interesting to watch how the upcoming price action could unfold.

Bottom Line!The divergence between AAVE and CRV makes one point clear: markets are no longer reacting to governance headlines alone but to the quality of the risk behind them. Procedural debate is being tolerated, while uncertainty around revenue control is being priced aggressively. Until clarity improves, AAVE is likely to remain under pressure, while CRV’s ability to stabilize will depend on whether governance noise stays contained and protocol activity remains intact.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017,
aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy,
our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a
rigorous Review Methodology when evaluating exchanges and tools. From emerging
blockchain projects and coin launches to industry events and technical developments, we cover
all facets of the digital asset space with unwavering commitment to timely, relevant information.

Crypto ETF issuer 21Shares has indicated it still intends to launch its Dogecoin ETF, as it just filed an amended S-1 with the U.S. Securities and Exchange Commission (SEC). This comes as DOGE ETFs continue to underperform, extending their streak of zero flows.

21Shares Amends S-1 For Dogecoin ETF
An SEC filing shows that the crypto ETF issuer has made another amendment to the registration statement for its DOGE ETF filing. This marks the sixth amendment to the Form S-1 even as the asset manager prepares to launch its DOGE fund.

CoinGape reported earlier this month that 21Shares had amended the S-1 for its Dogecoin ETF to disclose key details, including a 0.5% management fee. The latest amendment maintains such details as the management fee.

The crypto ETF issuer still plans to list the fund under the ticker ‘TDOG’ on the Nasdaq. Furthermore, the top crypto exchange, Coinbase, will serve as custodian of the Trust’s assets. There is no mention of a fee waiver, even as 21Shares looks to compete with the existing DOGE ETFs by Grayscale and Bitwise. The asset manager still plans to buy $1.5 million worth of DOGE upon listing on the exchange.

Meanwhile, it is worth mentioning that 21Shares noted that the Dogecoin ETF won’t go into effect until they file another amendment to make the fund effective in line with section 8 (a) of the ’33 Act or when the SEC makes the registration statement effective. 21Shares has already launched its Solana and XRP ETFs this year, while the DOGE fund could be the fifth crypto asset it offers 100% spot exposure to.

DOGE ETFs Continue to Underperform
SoSo Value data show that the DOGE ETFs have continued to underperform since they launched in late November. These funds have recorded eight consecutive days of zero flows, dating back to December 11.

Source: SoSo Value
The Dogecoin ETFs have also only recorded daily net inflows in five out of 20 trading days. As a result, both Grayscale and Bitwise DOGE ETFs have only taken in $2.05 million since they launched.

Grayscale currently boasts a total net inflow of $3.03 million, while Bitwise’s total net flow is an outflow of almost $1 million. The daily trading volume recorded by these funds also continues to fall short of $1 million.

The Dogecoin price has also been declining amid underperformance in these DOGE ETFs. The meme coin has dropped over 6% in the last month, around the time these funds launched. Meanwhile, the top meme coin is down over 58% year-to-date (YTD).

Bitcoin is back in focus as veteran trader Peter Brandt raises fresh concerns about where the current market cycle may be headed. With Bitcoin trading well below recent highs and struggling to reclaim strong momentum, Brandt argues that the broader cycle structure remains unfinished. Drawing on decades of chart analysis and Bitcoin’s own history, he believes the market could still be setting up for deeper downside before a true long-term bottom forms.

According to Brandt, Bitcoin’s long-term cycles tend to play out over many years, not months. In his view, the current cycle could extend until 2029, with the next major bull market peak potentially arriving around September of that year. Until then, volatility and uncomfortable price action may remain part of the journey.

Why Historical Cycles Fuel Crash FearsBrandt’s caution is rooted in Bitcoin’s past behavior. Over the last 15 years, Bitcoin has gone through multiple explosive rallies followed by brutal corrections. Each major parabolic advance was eventually followed by drawdowns of 80% or more, wiping out excess leverage and speculative froth before the next cycle could begin.

Based on this repeating pattern, Brandt warns that the current downturn may still have room to run. In more extreme scenarios, he has suggested Bitcoin could revisit levels far below current prices, even pointing to the mid-$20,000 range as a possible cycle low. More recently, he has also flagged the risk of a drop below $60,000 if selling pressure accelerates.

Does Bitcoin Weakness Set the Stage for AltcoinsBrandt’s bearish outlook on Bitcoin has reignited discussion around altcoins. As Bitcoin trades below key psychological levels and dominance shows signs of softening, some investors believe capital could begin rotating into alternative assets. Historically, periods of Bitcoin consolidation have sometimes coincided with stronger performance across parts of the altcoin market.

Ethereum is often mentioned as a potential beneficiary, given its central role in decentralized finance, tokenization, and institutional experimentation. Some market participants expect select altcoins to outperform if Bitcoin remains range-bound rather than trending strongly upward.

Analyst says No Altcoin RallyNot everyone is convinced an altcoin season is coming. Crypto analyst, Benjamin Cowen warns that many investors have held onto weak altcoins hoping for an “altseason” that never arrived, largely because macro and monetary conditions were unfavorable this cycle. As altseason expectations get pushed into 2026 after failing in 2024 and 2025, he stresses that long-term wealth is built by holding strong, quality assets rather than chasing speculative narratives.

No Consensus on What Comes NextThe divide highlights how uncertain the road ahead remains. Asset managers like Bitwise remain optimistic that Bitcoin, Ethereum, and Solana could reach new highs in 2026 under the right liquidity conditions. Meanwhile, BitMEX co-founder Arthur Hayes argues that “altcoin season” is not a single event at all, but an ongoing process driven by shifting narratives and capital flows.

For now, the market sits at a crossroads, balancing historical caution against evolving adoption and liquidity dynamics.

Never Miss a Beat in the Crypto World!Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

FAQsIs Bitcoin heading for another major crash?

Veteran traders warn Bitcoin cycles often include deep pullbacks. While timing is uncertain, history shows sharp corrections can happen before a long-term bottom forms.

Does Bitcoin weakness mean altcoins will rally?

Not always. Altcoins sometimes outperform during Bitcoin consolidation, but weak macro conditions can prevent a broad “altcoin season” from materializing.

Should I buy altcoins if Bitcoin is weak?

Not necessarily. Experts warn that holding quality assets is key; weak altcoins may not rally simply because Bitcoin is struggling, as broader market and liquidity conditions play a crucial role.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.

XRP is drawing unusually high levels of negative chatter on social media, and according to some market watchers, doubts that the token’s price will rise have historically led to rebounds. 

Crypto market sentiment analytics firm Santiment posted on X that sentiment around the token has slipped deeply into negative territory, but episodes of pessimism are mostly followed by upward price momentum.

“XRP is seeing far more negative social media commentary than average. Historically, this setup leads to price rises. When retail has doubts about a coin’s ability to rise, the rise becomes significantly more likely,” Santiment feed wrote on the social platform early Tuesday.

The sentiment comes on the heels of XRP’s 34% drop in the last quarter of 2025, and with Christmas just two days away, the market is almost certain to see little to no price upturns in the near future. 

Negative commentary on XRP is among the highest in the last two months
According to Santiment’s social metrics, the ratio of negative to positive commentary on XRP has surged to its highest point in the last 60 days. When XRP traded near the $2.00 mark in late July, sentiment plunged to almost entirely negative, only for the price to rally in the following sessions to push above $3.00.

A similar pattern emerged in mid-September, when another spike in negative chatter preceded a bullish charge that carried XRP toward the $3.40 region before sellers returned. In early November, pessimism dominated social platforms again and took the fourth-largest coin by market cap below $2.25, never to return above it to date.

Per one market analyst posting on X, public perception has exaggerated XRP’s moot performance because the token is up by over 200% since September 2024. 

“There are only a few assets in this space that are still up 400%+ from their 2024 lows,” the analyst wrote. “$XRP is one of the few, but after reading comments, you’d think it was down 60%+,” they reckoned.

The analyst said prolonged sideways trading has worn down sentiment, even though XRP has not experienced the type of collapse implied by online commentary. They believe months of consolidation have created an “extremely fearful” outlook, but any eventual breakout could make the rally seen between November 2024 and January 2025 “small by comparison.”

Market fear returns as XRP price tests support
XRP’s current decline has pushed sentiment back toward levels last seen on November 21. At that time, social metrics showed fear dominating discussion just before the price jumped roughly 22% over the next three days. 

We are in a case of a community that is very bullish on Ripple’s token, and a market that is bearish on the coin to a similar extent, so much so that even the launch of spot XRP exchange-traded funds did not trigger an immediate rally.

Tracking its movements in the last seven days, XRP has returned to a horizontal support zone at the $1.80 mark, a level it held during several previous pullbacks. Some technical indicators, like the Stochastic RSI, a momentum indicator used by chart readers to identify overbought or oversold conditions, is currently sitting at extreme oversold levels.

While oversold readings do not guarantee an immediate reversal, they could clear the lane for a price overhaul to the positive side and weaken any efforts by bears to pull down momentum. 

“Markets don’t turn because things look ‘bullish,’” wrote YouTuber and crypto trader STEPH IS CRYPTO on X, “They turn when there’s little fuel left on one side.”

XRP broke down from a multi-day consolidation late Saturday, slipping below $1.93, even as Bitcoin and the rest of the crypto market’s performance was mixed. The token spent much of the weekend session trading between $1.90 and $1.95 before bears forced a decisive break through the lower boundary on Monday. 

The $1.93 area was tested by sellers in several instances, eventually giving in during Monday’s afternoon US trading hours. The most pronounced drop occurred around 13:00 ET yesterday, when XRP slid to approximately $1.89, and trading volumes hit 78% higher than the 24-hour average.

Claim your free seat in an exclusive crypto trading community - limited to 1,000 members.

The market value of Sun’s locked WLFI holdings has fallen by roughly $60 million over the past three months.
This follows WLFI’s September decision to freeze certain wallets, preventing affected addresses from sending or receiving the token.

Blacklisting and Market Impact
Token blacklisting is a mechanism that allows projects to freeze specific addresses, often for regulatory, security, or governance reasons. In this case, WLFI added wallets associated with Justin Sun to its blacklist, effectively halting his ability to interact with the token. On-chain data shows the consequences clearly: the value of his holdings, based on current WLFI prices, has steadily declined, reflecting both market fluctuations and the uncertainty created by the freeze.

This example demonstrates how blacklisting can influence market sentiment. Investors often watch the movements of prominent holders, sometimes referred to as whales, to gauge potential price trends. When these addresses are restricted, it can reduce immediate selling pressure but may also raise questions about governance, transparency, and the overall security of the token ecosystem.

Justin Sun is still blacklisted by WLFI

in 3 months, his locked tokens dropped $60m in value

absolutely brutal https://t.co/3Af2px04h5 pic.twitter.com/4qxuiE4qwJ

— Bubblemaps (@bubblemaps) December 22, 2025

A recent trend in the broader crypto market shows that projects are increasingly using blacklists selectively to manage risk. For example, privacy-focused tokens or regulatory-compliant stablecoins have added high-risk wallets or flagged suspicious activity to prevent fraud or market manipulation. WLFI’s action aligns with this approach, aiming to maintain control over token distribution and ecosystem integrity while signaling that no participant is immune from compliance measures.

Broader Implications for Investors
The key takeaway is to understand how token-level controls can affect liquidity and valuation. When large wallets are frozen, it can temporarily reduce market volatility but also introduces questions about governance power. Observing blacklisted addresses offers insight into the project’s risk management strategies and highlights the need for careful evaluation of token holdings before investing. Here is an example:

💸 $943M frozen 🥶

Across USDT & USDC on mainnet, over $943,521,245 sits in blacklisted addresses

🔹 USDT: $833.78M

🔹 USDC: $109.73M

Top frozen wallets hold tens of millions each, the largest USDT wallet alone is blocked from moving $50.25M ☠️⚰️ pic.twitter.com/gWB086f55k

— Denham (@DenhamPreen) August 14, 2025

A real-world example can be found in September, when WLFI blacklisted the Sun-linked addresses. Despite the initial market shock, the project maintained operational stability, indicating that blacklisting, when applied transparently, can support long-term ecosystem health.

Disclaimer
The information provided by Altcoin Buzz is not financial advice. It is intended solely for educational, entertainment, and informational purposes. Any opinions or strategies shared are those of the writer/reviewers, and their risk tolerance may differ from yours. We are not liable for any losses you may incur from investments related to the information given. Bitcoin and other cryptocurrencies are high-risk assets; therefore, conduct thorough due diligence. Copyright Altcoin Buzz Pte Ltd.

Blockchain security company CertiK has issued an important warning after detecting a suspicious on-chain incident that led to the loss of nearly $2.3 million in digital assets.

According to CertiK, the suspicious activity was found using its Skylens monitoring system, which tracks unusual movements on the blockchain.

How the $2.3 Million Crypto Hack HappenedAccording to the CertiK report, there were two wallets involved in the attack. One wallet sent around $1.8 million, while the second wallet sent about $506,000. Both transfers went to the same unknown wallet, which was later marked as malicious. 

This means the money was likely stolen, not sent by choice.

After receiving the stolen money, the attacker quickly moved the funds into Tornado Cash, a crypto privacy tool. Tornado Cash is often used to hide transaction trails, making it very hard to track or recover stolen funds.

Blockchain data shows multiple Ethereum transfers, including small and large amounts like 10 ETH and 100 ETH, being sent through Tornado Cash within minutes. This fast movement is a common sign of a planned attack.

The Victim asks for NegotiationWhat makes this case unusual is what happened next. CertiK’s data shows that both compromised wallets sent an on-chain message to the receiving address, asking whether negotiation was possible. 

This suggests the transfers were not intentional trades, but likely the result of a security breach where wallet access was lost.

Sharp Warning For Crypto UsersThis incident once again highlights the growing risks around wallet security. Even without smart contract exploits, attackers can drain funds using compromised private keys, phishing links, or malicious approvals.

Meanwhile, some experts have started closely monitoring and flagging the wallet address, even though recovering the stolen funds may not be possible.”

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.

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

VanEck is setting expectations for Bitcoin in 2026 with a tone that’s closer to the risk committee than crypto Twitter: the next year looks more like consolidation than a dramatic regime shift.

In its Dec. 18 note, “Plan for 2026: Predictions from Our Portfolio Managers,” Matthew Sigel, VanEck’s head of digital assets research, argues that the signal set heading into 2026 is “mixed but constructive.” The framework is deliberately restrained: volatility has come down, leverage has been washed out in stages, and on-chain activity is still soft but not deteriorating the way it tends to during deeper cyclical breaks.

“Realized volatility has… dropped by roughly half. That implies a proportional drawdown of about 40%. The market has already absorbed roughly 35%.”

Sigel anchors part of the call in cycle structure. He writes that Bitcoin’s historical four-year rhythm, which has tended to peak in the immediate post-election window, “remains intact following the early October 2025 high.” If that template is still operative, 2026 is less likely to be a clean continuation year.

Bitcoin Prediction For 2026: What To Expect
“That pattern suggests 2026 is more likely a consolidation year. Not a melt-up. Not a collapse.” The more interesting part is the “why,” because VanEck isn’t leaning on a single factor. Sigel describes three lenses shaping the outlook, and they are not uniformly supportive. “Global liquidity is mixed. Likely rate cuts provide support. US liquidity is tightening somewhat.”

He ties that tightening to a specific macro dynamic: “AI-driven capex fears” colliding with a more fragile funding market and pushing credit spreads wider. Put differently, even if policy rates drift lower, the broader cost-of-capital environment can still work against risk-taking at the margin — especially where refinancing needs are persistent and investor selectivity is rising.

Against that backdrop, the portfolio guidance is measured. VanEck favors a “disciplined 1 to 3% Bitcoin allocation,” built through dollar-cost averaging, with adds during leverage-driven dislocations and trims into speculative excess. It’s positioning for a market that oscillates, not one that trends cleanly.

Sigel also flags a topic that has shifted from niche to mainstream inside the Bitcoin community: quantum security. VanEck doesn’t present it as an imminent risk to the chain, but it does treat it as an organizing question that could draw serious attention.

“Quantum security has become an active topic. It’s not an immediate threat. A coordinated response could resemble the first blocksize debates.”

That last line matters more than it sounds. The blocksize era wasn’t only a technical dispute; it was a public process that pulled in new stakeholders, forced trade-offs into the open, and hardened long-term norms. VanEck’s suggestion is that, if quantum planning becomes a sustained coordination exercise, it could have a similar “transparent and technically rich” dynamic, messy, visible, and ultimately strengthening engagement.

Where VanEck is most constructive for 2026 is not necessarily spot BTC, but the capital cycle around Bitcoin mining. Sigel argues the strongest opportunity sits in what he calls the “capital-intensive pivot” as operators try to finance both hash-rate expansion and AI/HPC infrastructure simultaneously.

That combination is stretching balance sheets and widening dispersion across the sector: miners with hyperscaler partnerships can raise straight debt on comparatively favorable terms, while weaker names are pushed toward dilutive converts or selling BTC into weakness.

“This creates the cleanest consolidation setup since 2020 to 2021. The best risk-reward is in miners transitioning into energy-backed compute platforms. Credible HPC economics, advantaged power, and financing paths that avoid serial dilution.”

A second opportunity set is digital payments and stablecoin settlement, but VanEck is selective. Sigel sees stablecoins moving into real B2B payment flows, improving working capital management and lowering cross-border settlement costs.

“The more investable angle may sit in fintech and e-commerce platforms that can unlock margin leverage by shifting supplier payments, payouts, and cross-border settlement onto stablecoins. High-throughput chains will support much of this activity, and a few tokens tied to genuine usage may benefit, but we believe the most durable opportunity may lie in the operating companies enabling adoption rather than in broad token exposure,” Sigel writes.

The overall message is not bearish, and it is not euphoric. It is, in a very deliberate way, a call for discipline: expect range-bound conditions, look for dislocations, and focus on parts of the ecosystem where balance-sheet stress and real-world adoption can create asymmetry.

At press time, Bitcoin traded at $87,423.

Bitcoin remains stuck between the 0.618 and 0.786 Fib, 1-week chart | Source: BTCUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com

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.

Bitcoin's price action in Q4 2025 has looked very different from previous years. After starting the quarter in a strong uptrend and pushing into fresh all-time highs early on, momentum shifted sharply as the quarter progressed.

ZOOZ Strategy’s Bitcoin-backed stock has been put on a Nasdaq compliance clock after the exchange warned the company its shares no longer meet the $1 minimum bid-price requirement, raising the risk of delisting if the price fails to recover within six months.

The dual‑listed firm, which trades on Nasdaq and the Tel Aviv Stock Exchange, said in a Monday statement that it plans to monitor the situation, and it may consider a reverse share split if needed.

A reverse share split is when a company reduces the number of its outstanding shares and raises the price per share proportionally, typically to lift the stock price without changing the firm’s overall market value.

The top 100 Bitcoin treasury companies collectively hold over 1 million BTC, and the number of public companies holding Bitcoin rose 38% between July and September amid deepening institutional adoption. At the time, market watchers claimed that the rising accumulation by treasury companies place upward pressure on the price of Bitcoin.

ZOOZ’s Bitcoin bet under pressure​ZOOZ is built around a long‑term Bitcoin treasury strategy, and has accumulated 1,036 BTC (BTC) as a strategic asset, which gives its shareholders indirect exposure to Bitcoin. That pitch helped the stock grab attention when it launched earlier this year, but it has not prevented the share price from sliding under the $1 threshold.

​The notice does not mean an immediate delisting. Under Nasdaq rules, ZOOZ has until June 15, 2026, to post a closing bid of at least $1 for 10 straight trading days, and could be eligible for a second grace period if it meets other criteria.

Zooz share price tanks below $1. Source: Yahoo FinanceFor now, the company says its operations are unaffected, but acknowledges that it may need to use “available options.”

Winners and losers of the Bitcoin strategyZOOZ’s warning lands less than a week after KindlyMD, another Bitcoin treasury player created via a merger with David Bailey’s Bitcoin‑native holding company Nakamoto, disclosed its own price‑deficiency notice from Nasdaq after its shares slipped below the $1 mark.

Listing pressure is not limited to pure Bitcoin treasuries. Digital Currency X Technology (DCX), a digital‑asset firm that reports more than $1.4 billion in token holdings following its EdgeAI token acquisition, announced on Dec. 18 that it had received a separate Nasdaq non‑compliance notice tied to minimum market‑value requirements.

This doesn’t mean that all Bitcoin treasuries are on thin ice. Tokyo‑listed Metaplanet, which also leans on Bitcoin as a treasury asset, has continued to find ways to tap capital markets, most recently clearing the issuance of new shares and Bitcoin‑linked dividend instruments aimed at institutional investors.

Strategy, the best‑known corporate Bitcoin holder, has also kept pressing its strategy into December, adding roughly $980 million in BTC in mid‑month and lifting its total stash to over 671,000 coins.

Trendline from record highs capped BTC's recovery attempt Monday. Updated Dec 23, 2025, 11:53 a.m. Published Dec 23, 2025, 11:53 a.m.

This is a technical analysis post by CoinDesk analyst and Chartered Market Technician Omkar Godbole.

Bitcoin's BTC$87,668.37 late-year attempt to regain poise ran into a glass ceiling Monday, forcing prices back below $88,000.

STORY CONTINUES BELOW

That ceiling is defined by a descending trendline drawn from October’s record high above $126,000, connecting the peaks of subsequent shallow recoveries—most notably the $116,400 high.

This trendline swatted back attempts to establish a foothold above $90,000 on Monday, reinforcing the "staircase-down" pattern that has plagued the largest cryptocurrency throughout the fourth quarter. By failing to clear this hurdle, BTC has printed another "lower high," signaling a resurgence of sellers near the resistance line and stalling the momentum needed to challenge the six-figure mark.

Consequently, the immediate outlook remains bearish as long as prices hold below the trendline. The latest rejection shifts focus toward the $84,000–$84,500 support zone, followed by the November low near $80,000.

To revive the bullish outlook, BTC must overcome the trendline resistance. Such a breakout, especially against the backdrop of a sliding dollar index, could accelerate gains toward the $100,000 mark.

BTC's daily chart in candlestick format. (TradingView)

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

More For You

State of the Blockchain 2025

Dec 19, 2025

L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.

What to know:

2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.

This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.

View Full Report

More For You

Crypto Markets Today: Cardano-based NIGHT crashes, ZEC, XMR also drop

52 minutes ago

Most tokens that debuted this year are trading below their initial valuations.

What to know:

Cardano-based Midnight Network's token NIGHT plummeted 22%, the steepest decline among the top 100 tokens.Bitcoin fell below $88,000 after failing to maintain gains above $90,000, with potential volatility expected following the U.S. GDP release.A year-end analysis reveals that only 15% of crypto tokens launched in 2025 are trading above their initial valuations, with infrastructure and AI-linked tokens underperforming.Read full story

Source: Depositphotos

The Bitcoin-native liquidity protocol Yala is turning its attention away from stablecoins and yield farming to try and conquer the exciting world of prediction markets with the help of autonomous artificial intelligence agents. 

In a blog post last week, Yala announced it’s evolving its platform with the launch of its first AI agent, known as Yala 2.0, to try and help participants spot “fair value” opportunities in prediction markets. The goal is to improve predictive accuracy and bring more structured and robust pricing systems guided by intelligent probabilistic tools to prediction markets. 

Yala explained that prediction markets have attracted a huge audience in the wake of their impressive accuracy during the 2024 U.S. Presidential election. One year ago, most pollsters and bookmakers thought that the election would be a pretty close-run thing, with Donald Trump and Kamala Harris locked in a statistical dead heat. But those forecasts could barely have been more inaccurate, for Trump ended up crushing his Democratic rival. 

The outcome of the election was in-line with the odds given by leading prediction markets Polymarket and Kalsi, which strongly favored Trump throughout the last few months of the campaign. Analysts hailed the result as evidence that the “collective intelligence” of the crowd is more accurate than traditional prediction systems.   

What are prediction markets? Prediction markets work by pricing uncertainty through orderbook matching, with the prices of an outcome representing probabilities, and they have proven to be extremely efficient at surfacing collective intelligence. Their accuracy even impressed the Commodity Futures Trading Commission, which approved Kalshi as a Designated Contract Market – giving it the same status of a regulated futures and options contract market. 

Despite this stamp of approval, Yala believes prediction markets are still somewhat immature because they lack the traditional fair-value models found in traditional options and derivatives, such as the Black-Scholes method for pricing and risk management. Because of this, participants are primarily guided by speculation rather than statistically favorable odds, with a great deal of uncertainty around what truly constitutes “fair value”. 

Yala believes fair value is key to establishing prediction markets as serious financial products and so it has taken it upon itself to provide this, but doing so isn’t easy. Calculating probabilities involves weighing up hundreds of interconnected variables, making it all but impossible for humans. 

The Yala 2.0 agent tackles this complexity by crunching hundreds of dynamic, evolving signals to try and generate a more precise and accurate probability of an event outcome. Once the probability has been established, bettors can then determine a fair price for a “yes” or “no” outcome. Should the agent determine that the fair value of an outcome is higher than the current market price, that would indicate bettors are statistically more likely to profit by buying “yes”, but if it’s lower, then they would be better off going with “no”.

Will the price of BTC be equal or higher than $88K by December 23?🟢 Yala AI Fair Value: 91% YES
🔵 Polymarket: 77% YES

Considering strike proximity, short time-to-expiry, and recent realized range/vol:

→ Market is underpricing YES pic.twitter.com/XwsEZzwmLs

— Yala (@yalaorg) December 22, 2025It’s similar in some ways to what sports bettors do. When betting on soccer games, professional gamblers always look for “value” in the odds, rather than simply choosing who they think will win the game. If they estimate a team’s chances of winning a game is one-in-ten but the bookie is offering offs of 15/1, they take the bet every time because it offers value. After all, soccer is unpredictable and surprises happen frequently. 

Evolving intelligenceYala 2.0’s roadmap describes how the agent will build up its intelligence step-by-step. The initial phase is focused on closed, internal testing and rapid iteration, and will initially use a model that’s based on historical data, news analysis, smart-money tagging and social media sentiments. The initial focus will be on digital asset prices and sports outcomes, with Yala refining the model over time, based on the accuracy of its predictions. Its early probability estimates will be shared via X, as part of its transparent approach to calibrating the underlying model. 

The second stage will see the public launch of Yala 2.0 and its adoption of a modular architecture. During this period, Yala 2.0’s performance will be publicly verified and continuously measured in live markets with a controlled risk limit. Users will be invited to interact with the agent by entering basic prompts, such as the market type, target conduction and time horizon to generate a probability estimate. 

At this stage, Yala 2.0’s architecture will evolve to a multi-agent design that’s coordinated by a central orchestrator agent, with separate modules for date ingestion and processing, predictions and safety and governance. 

Finally, stage three will mark full maturity, where the agent expands to become a comprehensive “swarm framework” made up of a supervisor agent that governs a suite of specialist worker agents to determine probabilities across every domain. It’s at this stage that Yala 2.0 will go beyond risk-neutral pricing to generate more subjective fair-value estimates, incorporating additional micro-factors into its calculations. 

Yala 2.0 will enhance the utility of Yala’s native $YALA cryptocurrency, which is destined to become the agent’s governance token and a “value-alignment asset”. Holders will be able to stake $YALA to participate in votes and token reward distributions tied to the agent’s expansion. Meanwhile, $YALA’s tokenomics structure will evolve, with platform revenue from performance and usage fees allocated to token buybacks. 

Ultimately, Yala wants to become the “fair-value operating system” for markets like Polymarket and Kalshi and foster deeper liquidity and more accurate pricing across the fast-growing prediction economy. 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Summary:

Bitcoin slips below $88,000 as traders weigh US data, ETF flows and options expiry, while gold surges to record highs during Christmas week.
Bitcoin is trading lower on Tuesday, December 23, as the world’s largest cryptocurrency slipped back below the $88,000 level following a failed attempt to reclaim $90,000 earlier this week. The pullback comes as traders position cautiously ahead of key US economic data releases and a major year-end crypto options expiry.

At the time of writing, Bitcoin is hovering around $87,500, down roughly 2% over the past 24 hours, after trading in a relatively tight $87,000–$90,000 range. Thin holiday liquidity and elevated derivatives positioning are amplifying price moves as markets enter the final stretch of 2025.

Bitcoin Price Today: Where BTC Is Trading Now
Bitcoin remains firmly range-bound despite heightened intraday volatility. Pricing varies slightly across venues, but the broader picture is consistent: BTC is consolidating below a key psychological threshold.

CoinGecko data places Bitcoin near $87,500, with a 24-hour range between roughly $87,100 and $90,300, and daily trading volume close to $49 billion.
Coinbase-linked feeds show BTC near $87,400–$87,600, reflecting similar price action across major spot markets.

Bitcoin Price Chart Today Dec 23 2025 Created on TradingView
The inability to hold above $90,000 has reinforced a short-term resistance zone, while buyers continue to defend dips toward the mid-$80,000s.

What Is Moving Bitcoin Today?
Bitcoin’s price action on December 23 is being shaped by a combination of macro risk, institutional flows, and derivatives positioning rather than project-specific news.

Traders Brace for Key U.S. Economic Data
One of the main near-term drivers is macro uncertainty. Markets are awaiting a cluster of delayed US economic releases, including third-quarter GDP updates and readings tied to the Personal Consumption Expenditures index, the Federal Reserve’s preferred inflation gauge.

With liquidity thinning into the Christmas holiday, traders appear reluctant to take aggressive directional bets ahead of data that could shift expectations around interest rates, risk appetite, and the US dollar. Bitcoin has increasingly reacted to macro surprises in 2025, particularly during low-volume periods.

Bitcoin ETF Flows Turn Mixed
Spot Bitcoin ETF flows remain a closely watched signal for institutional demand. Recent data shows net outflows from US-listed spot Bitcoin ETFs, even as some funds continued to post modest inflows.

This mixed picture has weighed on sentiment. When ETF flows turn consistently positive, they tend to absorb spot selling and support rallies. When flows weaken or reverse, traders often adopt a “sell the bounce” mindset, especially near resistance levels like $90,000.

Options Expiry Creates Short-Term Price Gravity
Derivatives markets are playing an outsized role in current price behaviour. Around $28.5 billion worth of Bitcoin and Ethereum options are set to expire on December 26 on Deribit, marking one of the largest expiries in the platform’s history, according to Yahoo Finance .

Open interest is heavily clustered around the $85,000 and $96,000 strike levels. This concentration can act like a magnet for spot prices as traders hedge positions and rebalance exposure, particularly during holiday-thinned trading sessions.

As a result, Bitcoin’s near-term movement may remain constrained until the expiry passes.

Ethereum and Broader Crypto Market Remain Under Pressure
Ethereum has followed Bitcoin lower, slipping below the $3,000 level and trading near $2,980–$2,995, down about 1% on the day.

The total cryptocurrency market capitalization is fluctuating between $2.96 trillion and $3.07 trillion, reflecting mild declines across major assets. Altcoins remain mixed, with most showing consolidation rather than decisive trend moves.

Market sentiment remains cautious. The Crypto Fear & Greed Index is holding in “Fear” territory, underscoring defensive positioning as the year draws to a close.

Gold’s Record Rally Highlights a Shift in Defensive Demand
While crypto markets consolidate, traditional safe havens are drawing stronger inflows. Gold is trading near record highs above $4,400 per ounce, supported by rising geopolitical tensions, expectations of future rate cuts, and a weaker US dollar.

The contrast between gold’s momentum and Bitcoin’s range-bound behaviour suggests that, at least in the short term, investors are favouring conventional defensive assets over digital ones during periods of heightened uncertainty.

Bitcoin Outlook: What Comes Next?
As 2025 enters its final trading days, Bitcoin’s direction is likely to remain driven by positioning rather than conviction. Traders are watching three key factors:

The outcome of US macro data releases
The impact of the December 26 options expiry
The trajectory of spot Bitcoin ETF flows

Until one of these provides a clear catalyst, Bitcoin appears set to trade within its established range, with $90,000 acting as resistance and the mid-$80,000s as near-term support.

For now, Bitcoin remains in wait-and-see mode, caught between long-term institutional adoption narratives and short-term caution driven by macro risk and year-end positioning.

Does Bitcoin fall when gold prices surge?

Bitcoin can weaken when gold surges during geopolitical stress, as investors often shift short-term capital into traditional safe havens first.

Why is Bitcoin underperforming gold right now?

Bitcoin is facing year-end positioning, options expiry pressure, and thinner liquidity, while gold is benefiting from defensive demand.

Can Bitcoin recover after options expiry?

Bitcoin could see clearer direction after the December options expiry, once hedging pressure and holiday-week volatility fade.

Cover image via U.Today

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

XRP is trading lower in the last 24 hours, down 1.41% to $1.88, extending its drop into the third day from a high of $1.95 on Dec. 20.

Amid the price drop, recent on-chain data analysis by Santiment reveals that XRP Sentiment has slipped back to negative.

However, this presents a silver lining: a sentiment drop into the bearish zone increases the likelihood of a strong price increase.

HOT Stories

According to Santiment, XRP is seeing much more negative social media commentary than average. It notes that, historically, this setup leads to price rises, adding that when retail traders have doubts about a coin's ability to rise, the rise becomes significantly more likely.

XRP to $2 by year's end?XRP fell over the last 24 hours as a recovery attempt from weekend lows stalled below key resistance, as the technical structure still remains fragile.

Selling pressure intensified late Sunday as the XRP price fell near the $1.95 high, resulting in a move back below the psychological $1.90 level. This created a pattern of lower highs that has defined recent sessions, tilting short-term momentum to the downside.

XRP price action remains in a range, as traders reflect indecision rather than capitulation. A decisive break of the $1.95 level might be needed to improve short-term technical structure to target $2 once again, while a drop below the current $1.87 low might see XRP target lower levels, potentially at $1.77 or even $1.50.

What to watch nowTechnical signals remain mixed, with bullish divergences emerging on momentum indicators, indicating that selling pressure might be easing near recent lows. However, caution still remains on the market. This is because XRP is still trading below its major moving averages on longer time frames. This trend has, in prior times, seen deeper price drops when sustained.

With just eight days to the end of 2025, traders are watching to see what comes next for the XRP price: will it make a reversal to retest $2 once again or fall lower?

HomeStock IdeasLong IdeasIndustrial 

SummaryMasco Corporation is rated a gentle BUY, driven by high-margin segments, stable analyst forecasts, and anticipated housing market recovery.MAS benefits from strong distribution partnerships with Home Depot and Lowe's, though these relationships present both opportunities and concentration risks.Analyst projections indicate 7–10% adjusted operating earnings growth in 2026–2027, with a potential 16% annualized return if valuation reverts to historical norms.Key risks include housing market weakness, supply chain/geopolitical disruptions, and competitive threats, particularly in plumbing and from private-label initiatives.CentralITAlliance/iStock via Getty Images

OK, I get it ... no-one really wants to start their day dreaming of faucets. But, over the years, when we ignored this product, Masco Corporation (MAS) has built its business as a key designer, manufacturer, and

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Here are three stocks with buy rank and strong income characteristics for investors to consider today, Dec. 23rd: 

Jackson Financial Inc. (JXN - Free Report) : This financial services company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.1% over the last 60 days. 

This Zacks Rank #1 company has a dividend yield of 3.0%, compared with the industry average of 1.6%. 

Valero Energy Corporation (VLO - Free Report) : This petroleum company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 18.2% over the last 60 days.  

This Zacks Rank #1 company has a dividend yield of 2.8%, compared with the industry average of 2.7%. 

Suncor Energy Inc. (SU - Free Report) : This energy company has witnessed the Zacks Consensus Estimate for its current year earnings increasing 8.6% over the last 60 days.

This Zacks Rank #1 company has a dividend yield of 4.0%, compared with the industry average of 3.6%. 

See the full list of top ranked stocks here. 

Find more top income stocks with some of our great premium screens.

Lucid is making some key progress with its autonomous driving platform. Is it enough to make the stock a buy?

There was much hype when Lucid Group (LCID +4.06%) went public a few years ago. Investors viewed the luxury electric vehicle (EV) maker as a potentially bold new challenger to Tesla, poised to ride the wave of EV adoption. The company's ambitious vision, cutting-edge technology, and sleek designs had captured attention.

However, things haven't gone as planned. After an initial surge in 2021 that saw the stock reach impressive heights, momentum has faded, and Lucid's stock is now down 98% from its all-time high. The optimism that once surrounded the company has waned as investors focus on execution, competition, and evolving EV adoption rates.

As Lucid Group looks to regain its footing and get back on track, here's what investors should know about it before buying.

Image source: Lucid.

Lucid's growing vehicle lineup
Lucid Group manufactures luxury EVs, targeting an affluent customer base. The company aims to establish itself as a premium brand in the competitive automotive industry by committing to delivering a high-quality driving experience.

Today's Change

(

4.06

%) $

0.48

Current Price

$

12.30

Its top-selling vehicle is the Lucid Air Sedan, the best-selling EV sedan in the U.S., outpacing the Tesla Model S. The automaker also offers the Lucid Gravity, an electric SUV with seating for up to seven adults and an EPA-estimated driving range of 450 miles.

Furthermore, management confirmed that the high-volume Midsize Platform, which aims to compete with popular models like the Tesla Model 3, remains on track to begin production in late 2026. This is Lucid's mass-market product and is a crucial step in enabling Lucid to scale production and improve gross margins.

Lucid is making moves in the robotaxi space
In other news, Lucid announced an initiative to accelerate its path to full autonomy in a collaboration with Nvidia. This partnership positions Lucid to deliver one of the world's first privately owned passenger vehicles with Level 4 autonomous driving capabilities, powered by the NVIDIA DRIVE AV platform.

Also, Uber Technologies announced a $300 million investment in Lucid Group. This investment is part of Uber's plan to launch driverless rides in the San Francisco Bay Area late next year, using Lucid Gravity SUVs equipped with Nuro's self-driving technology. This move puts Lucid's vehicles in direct competition with other robotaxi services. Uber plans to put 20,000 or more Lucid's self-driving SUVs on the road over six years.

Here's what Lucid investors need to watch
While this news is positive for Lucid Group, the company continues to burn cash as it scales up. The good news is that revenue is up 45% from last year. The bad news is that it continues to lose significant money. Through Sept. 30, the EV maker has an operating loss of $2.4 billion, up slightly from the prior year. This was against a total revenue of $834 million.

Data by YCharts.

Not only that, but the current regulatory environment isn't favorable to EV manufacturers, either. The Trump administration is resetting the Corporate Average Fuel Economy standards to levels achievable by conventional gasoline and diesel vehicles. This action reverses what the Trump administration said was the Biden administration's "unrealistic fuel economy targets that effectively resulted in an electric vehicle mandate," potentially reducing the regulatory push to shift consumers to EVs.

Morgan Stanley downgraded Lucid Group to Underweight from Equal Weight and sharply cut its price target. This decision was based on a more cautious industry outlook, with the analyst stating that the electric vehicle "winter" will remain through 2026.

More progress is needed
Lucid Group is making progress on its large-scale EV product and autonomous driving capabilities. However, the company continues to burn cash and could face headwinds in the near future. Changing regulations and shifting consumer preferences could lead to an "EV winter" according to Morgan Stanley, which would weigh on Lucid over the next year or so.

Lucid has earned praise for its vehicles, thanks to their industry-leading range, luxury design, and technology. That said, the company is still losing money, which should make investors hesitant. I'd like to see improvements in its efficiency and bottom line before purchasing the stock.

This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. Each of the company logos represented herein are trademarks of Microsoft Corporation; Dow Jones & Company; Nasdaq, Inc.; Forbes Media, LLC; Investor's Business Daily, Inc.; and Morningstar, Inc.

Copyright 2025 Zacks Investment Research 101 N Wacker Drive, Floor 15, Chicago, IL 60606

At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +23.81% per year. These returns cover a period from January 1, 1988 through December 1, 2025. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. Zacks may license the Zacks Mutual Fund rating provided herein to third parties, including but not limited to the issuer.

Visit Performance Disclosure for information about the performance numbers displayed above.

Visit www.zacksdata.com to get our data and content for your mobile app or website.

Real time prices by BATS. Delayed quotes by Sungard.

NYSE and AMEX data is at least 20 minutes delayed. NASDAQ data is at least 15 minutes delayed.

This site is protected by reCAPTCHA and the Google Privacy Policy, DMCA Policy and Terms of Service apply.