Market Signal Briefing

RBLX shares slide 38% in three months as growth visibility dims and spending rises, even while users and bookings surge - raising buy-the-dip questions.

BitMine disclosed on Monday that it sits on a crypto and cash pile worth $13.2 billion, and its vault has crossed 4,066,062 ETH, priced at $2,991 per coin, according to Coinbase data, putting its Ethereum exposure at 3.37% of the total 120.7 million ETH supply.

The balance sheet also shows 193 Bitcoin, $1.0 billion in cash, and a $32 million equity position in Eightco Holdings, according to BitMine’s press release.

BitMine now holds the largest Ethereum treasury on the planet
Over the past seven days, BitMine added 98,852 ETH, pushing total holdings beyond the 4 million ETH mark just 5.5 months after the accumulation strategy began.

Thomas “Tom” Lee of Fundstrat, who chairs BitMine, said the rate keeps the company on track toward what he called the “alchemy of 5%.”

On a global ranking, BitMine holds the largest Ethereum treasury and ranks second overall among public crypto treasuries, with only Strategy sitting ahead, with its massive 671,268 BTC valued at about $59 billion as of press time.

Tom also said work continues on the company’s staking platform called the Made in America Validator Network, shortened to MAVAN, claiming the system offers secure staking infrastructure and is scheduled for deployment in early 2026.

America’s crypto bill, the GENIUS Act, and the SEC’s Project Crypto were described by Tom as comparable in impact to the August 15, 1971, decision that ended the Bretton Woods system and removed the U.S. dollar from the gold standard.

Market trading data from Yahoo Finance shows BitMine stock has become one of the most actively traded names in the U.S. Fundstrat data shows $1.7 billion in average daily dollar volume over five days as of December 19, 2025, ranking 66th nationwide. The stock sits between Wells Fargo at 65 and Chevron at 67 out of 5,704 listed names.

Tom said in an X post that:- “AI and crypto $ETH $BTC are exponential growth opportunities, meaning current stock price highly sensitive to fluctuations in risk perception.”

Join a premium crypto trading community free for 30 days - normally $100/mo.

Key points:

Bitcoin is attempting to start a recovery, but higher levels are likely to attract sellers.

The weak bounce in several altcoins shows that the bears continue to exert pressure.

Bitcoin (BTC) rallied above $90,000 at the start of the new week, indicating that the bulls are attempting a comeback. Analysts are divided in their opinion about BTC’s next major move. While some anticipate a rally to a new all-time high, others expect a drop to as low as $70,000.

Santiment founder Maksim Balashevich is also not convinced that a bottom is in. Balashevich said in a YouTube video that BTC could fall to $74,000 as there is still a lot of optimism online. He added that a drop toward the said level could provide “a very good setup” for traders.

Crypto market data daily view. Source: CoinMarketCapAlthough the near-term looks uncertain, $25 billion in year-to-date inflows to BlackRock’s spot Bitcoin exchange-traded fund, iShares Bitcoin Trust (IBIT), show potential for the long term.

Bloomberg ETF analyst Eric Balchunas wrote in a post on X that IBIT, at sixth place, was the only fund in the top cohort with negative returns for the year. If a negative year could attract $25 billion, “imagine the flow potential in a good year,” Balchunas wrote.

Could BTC and the major altcoins start a relief rally, or will the bears pull the price lower? Let’s analyze the charts of the top 10 cryptocurrencies to find out. 

S&P 500 Index price predictionThe S&P 500 Index (SPX) has been range-bound between 6,550 and 6,920 for several days.

SPX daily chart. Source: Cointelegraph/TradingViewA positive sign is that the bulls are attempting to maintain the price above the moving averages. That improves the possibility of a break above the 6,920 resistance. If that happens, the index could rally toward the 7,290 level.

Sellers are likely to have other plans. They will attempt to defend the overhead resistance and pull the price below the moving averages. If they do that, the index could extend its stay inside the range for some more time. The bears will be back in the driver’s seat on a close below 6,550.

US Dollar Index price predictionThe US Dollar Index (DXY) dipped below the 98.03 support on Tuesday, but the bears could not sustain the lower levels.

DXY daily chart. Source: Cointelegraph/TradingViewThe relief rally reached the 20-day exponential moving average (EMA) (98.79) on Friday, where the bears are posing a strong challenge. Sellers will attempt to sink the price below the 98.03 support. If they manage to do that, the index may descend to 97.20.

Instead, if the price turns up from 98.03 and breaks above the moving averages, it suggests buying at lower levels. The index may then climb to the stiff overhead resistance at 100.54. Sellers are expected to vigorously defend the 100.54 level, as a break above it may start a new uptrend.

Bitcoin price predictionBTC’s bounce off the $84,000 level is facing resistance at the 20-day EMA ($89,322), but a positive sign is that the bulls have kept up the pressure.

BTC/USDT daily chart. Source: Cointelegraph/TradingViewA close above the 20-day EMA opens the doors for a rise to the 50-day simple moving average (SMA) ($92,754) and then to the overhead resistance at $94,589. Sellers are expected to defend the $94,589 level with all their might, as a close above it suggests that the corrective phase may be over.

If the Bitcoin price closes above $94,589, the BTC/USDT pair could surge to $100,000 and later to $107,500. On the downside, bears will regain control on a close below the $84,000 support.

Ether price predictionEther (ETH) has formed a symmetrical triangle pattern, indicating uncertainty about the next directional move.

ETH/USDT daily chart. Source: Cointelegraph/TradingViewIf buyers drive the price above the moving averages, the ETH/USDT pair could rally to the resistance line. Sellers will attempt to defend the resistance line and keep the Ether price inside the triangle, but if the bulls prevail, the pair could surge to $4,000 and then to the pattern target of $4,386.

Contrarily, if the price turns down from the moving averages and breaks below the support line, it signals an advantage to the bears. The pair may then plummet to $2,111.

BNB price predictionBNB’s (BNB) rebound off the uptrend line has reached the 20-day EMA ($872), where the bears are expected to step in.

BNB/USDT daily chart. Source: Cointelegraph/TradingViewIf the price turns down sharply from the moving averages and breaks below the uptrend line, it increases the risk of a break below $790. If that happens, the BNB/USDT pair could tumble to $730.

Contrary to this assumption, if the BNB price continues higher and breaks above $928, it suggests that the correction is over. The pair may then ascend to $1,019 and, after that, to $1,100.

XRP price predictionXRP’s (XRP) bounce off the support line of the descending channel pattern is facing resistance at the 20-day EMA ($1.98).

XRP/USDT daily chart. Source: Cointelegraph/TradingViewIf the price turns down sharply from the 20-day EMA, the bears will attempt to pull the XRP/USDT pair to the $1.61 support. This is a critical level to watch out for in the near term, as a break below it may accelerate selling. The XRP price may then collapse to the Oct. 10 low of $1.25.

This negative view will be invalidated in the near term if the price continues higher and breaks above the moving averages. The pair may then climb to the downtrend line. A close above the downtrend line signals a potential trend change.

Solana price predictionSolana (SOL) remains below the moving averages, but the positive divergence on the RSI suggests that the selling pressure is reducing.

SOL/USDT daily chart. Source: Cointelegraph/TradingViewIf the price breaks above the 20-day EMA ($130), the SOL/USDT pair could rise to the overhead resistance at $147. A close above $147 signals that the bulls are back in the game. The pair may then rally to $172.

On the other hand, if the Solana price turns down sharply from the 20-day EMA, it indicates a negative sentiment. The pair could then continue its slide to $110 and eventually to the solid support at $95.

Dogecoin price predictionDogecoin (DOGE) climbed back above the breakdown level of $0.13 on Friday, indicating buying at lower levels.

DOGE/USDT daily chart. Source: Cointelegraph/TradingViewSellers are unlikely to give up easily and will attempt to halt the recovery at the moving averages. If the Dogecoin price turns down from the moving averages and breaks below $0.12, it suggests that the bears remain in control. The DOGE/USDT pair may then plunge to the Oct. 10 low of $0.10.

Buyers will have to propel the price above the 50-day SMA ($0.15) to suggest that the markets have rejected the break below $0.13. The large range of $0.13 to $0.27 will come into play after the price maintains above $0.16.

Cardano price predictionCardano’s (ADA) recovery is facing resistance at the breakdown level of $0.37, indicating that the bears continue to exert pressure.

ADA/USDT daily chart. Source: Cointelegraph/TradingViewIf the Cardano price turns down and breaks below $0.34, it signals that the bears have flipped the $0.37 level into resistance. The ADA/USDT pair may then extend the decline to the Oct. 10 low of $0.27.

A minor positive in favor of the bulls is that the relative strength index (RSI) has formed a positive divergence. If buyers drive the price above the 20-day EMA ($0.40), the pair could rally toward the stiff overhead resistance at $0.50. 

Bitcoin Cash price predictionBitcoin Cash (BCH) pierced the $615 resistance on Friday, but the bulls could not build upon the breakout.

BCH/USDT daily chart. Source: Cointelegraph/TradingViewThe bears pulled the Bitcoin Cash price to the 20-day EMA ($571), which is attracting buyers as seen from the long tail on the candlestick. If the rebound sustains, the bulls will again attempt to drive the BCH/USDT pair to $651 and then to $720.

Alternatively, if the price turns down from the overhead resistance and breaks below the 20-day EMA, it suggests that the traders are booking profits. The pair may then slump to the 50-day SMA ($538).

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.

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Bitcoin

Bitcoin’s next major move may be less about crypto itself and more about where the global risk cycle is heading.

One market strategist believes the recent weakness is not random volatility, but an early phase of a broader reset that could stretch into 2026.

In a recent interview, Gareth Soloway, chief market strategist at Verified Investing, argued that Bitcoin is behaving exactly as it tends to during late-stage market cycles – just with a different intensity than in previous years.

A different kind of drawdown
Instead of repeating the brutal collapses that defined earlier Bitcoin bear markets, Soloway expects a more controlled correction this time around. In his view, structural changes in the market – particularly the rise of institutional participation – are likely to limit the scale of the decline.

Rather than a 70%-plus wipeout, he sees a drawdown in the range of 40% to 50% from peak levels as more realistic. Crucially, this type of move would not represent a breakdown of Bitcoin’s long-term trend, but a recalibration consistent with maturing markets.

From a technical standpoint, Soloway believes much of this adjustment may already be underway. The decline from recent highs suggests Bitcoin has entered a corrective phase that favors consolidation over panic selling.

Why old highs matter again
One of the most important elements of Soloway’s outlook is where the market could ultimately stabilize. He points to a familiar principle in technical analysis: former cycle highs often turn into long-term support once a new phase begins.

For Bitcoin, that zone sits around the $69,000 area, extending modestly higher. A retreat into that range would align closely with the type of mid-cycle reset he expects. Rather than signaling weakness, such a move could create the conditions for sustained accumulation by longer-term investors.

That said, Soloway does not rule out deeper downside if broader markets unravel. In the event of a sharp equity selloff or liquidity shock, Bitcoin would likely be pulled lower alongside other risk assets as investors rush to de-risk across the board.

Bitcoin’s role in a shifting market landscape
What makes this cycle different, according to Soloway, is Bitcoin’s evolving role within portfolios. While still treated as a risk asset during periods of stress, it is increasingly viewed by large investors as a form of digital gold rather than pure speculation.

This shift could explain why Bitcoin has lagged equities despite strong stock market performance. In past cycles, crypto often surged alongside risk assets. This time, its underperformance may reflect early caution rather than weakness.

READ MORE: Ghana Clears Legal Uncertainty With New Crypto Law

Soloway sees this divergence as meaningful. Historically, crypto has sometimes acted as a forward indicator for changes in risk appetite. If that pattern holds, Bitcoin’s softness could be hinting at tougher conditions ahead for equities.

Stocks, leverage, and the road to 2026
Soloway’s outlook on Bitcoin cannot be separated from his broader market view. He remains wary of equity markets heading into 2026, citing heavy leverage, stretched valuations, and speculative excess – particularly around artificial intelligence themes.

While he acknowledges AI’s long-term economic impact, he argues that margin pressure and overcrowded positioning could weigh on stocks as the cycle matures. In that environment, even a modest equity correction could reinforce Bitcoin’s appeal as an alternative store of value.

Rather than calling for aggressive buying or selling, Soloway favors patience. Gradual accumulation during periods of weakness, especially near historically important levels, fits his framework for navigating the next phase of the cycle.

Looking ahead
If Bitcoin does revisit prior cycle highs, Soloway sees that not as a failure, but as a reset. A prolonged base near those levels could lay the foundation for the next multi-year advance – once excess leverage is flushed out and risk appetite finds firmer footing.

For now, his message is clear: the next chapter for Bitcoin may be written less by headlines and more by how global markets digest the end of an unusually long and leveraged cycle.



Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

JPMorgan Chase is weighing whether to offer bitcoin trading services to institutional clients, according to a Bloomberg report citing a person familiar with the matter.

The largest U.S. bank by assets is assessing potential products that could include spot bitcoin trading and derivatives within its markets division. The discussions remain preliminary, and no decision has been made to launch the services, the report said.

Any move would depend on several factors, including client demand, internal risk assessments, and whether the bank can structure offerings that fit within existing regulatory frameworks. JPMorgan has not commented publicly on the report.

The internal review reflects growing interest among large investors for access to digital asset markets through established financial institutions. Hedge funds, asset managers, and pension funds increasingly seek trading venues that align with their compliance, governance, and execution requirements. 

Institutional clients often prioritize balance sheet strength, operational resilience, and regulated market access when trading new asset classes. For some firms, those requirements narrow the range of acceptable counterparties, even as liquidity in crypto markets has expanded.

Scott Lucas, who leads digital assets for JPMorgan’s markets division, said in an interview earlier this year that the bank planned to pursue trading activities tied to digital assets but did not intend to provide custody services. That approach would mirror how some banks engage with commodities and other non-traditional assets.

JPMorgan analysts also recently said that bitcoin appears cheap relative to gold after a sharp October sell-off, with strategists pointing to upside potential toward $170,000.

JPMorgan is pivoting on bitcoin The bank’s interest comes as regulatory conditions in the U.S. begin to shift. Market participants expect progress on federal digital asset legislation, while banking regulators have recently clarified that federally chartered banks may act as intermediaries in certain crypto-related activities. 

JPMorgan has expanded its engagement with blockchain technology over the past several years without embracing cryptocurrencies as a core asset class. The bank has worked on tokenization, on-chain settlement, and distributed ledger infrastructure. 

Earlier this year, it arranged the issuance and settlement of a short-term bond for Galaxy Digital using the Solana network.

The firm has also said it plans to allow institutional clients to use bitcoin and ether as collateral in lending arrangements, a step that acknowledges demand without committing to proprietary exposure.

A move into bitcoin trading would mark a further shift in tone for JPMorgan and its chief executive, Jamie Dimon, who has long criticized bitcoin while maintaining that clients should be free to make their own investment decisions.

JPMorgan would not be alone among global banks reassessing crypto markets. Standard Chartered has launched spot trading for bitcoin and ether through its U.K. operations, while Goldman Sachs continues to operate a crypto derivatives desk. 

Micah Zimmerman

Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.

Mon, 22/12/2025 - 16:30

Bitcoin may face a deeper correction in the coming year, retesting levels last seen in 2023, as the market appears to be entering its bear phase.

Cover image via U.Today

Bitcoin has continued its recent rally, hovering around the $90,000 mark with a daily surge of over 2%. However, Bitcoin has failed to regain the crucial $100,000 level last seen in October 2025.

While Bitcoin has continued to struggle amid recurring price corrections, its long-term outlook suggests the asset may face a deeper bearish cycle in the coming year.

On Monday, December 22, popular crypto analyst Ali Martinez provided a new market outlook for Bitcoin, predicting that the asset will plunge much deeper before its next major long-term recovery.

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Bitcoin to retest $37,500 in Q4 2026Providing charts on Bitcoin’s quarterly performance, the analyst made his prediction based on Bitcoin’s historical price cycles, suggesting that the asset could reach a market bottom around $37,500.

While earlier predictions have suggested that 2026 may turn out to be a major bear season for the leading cryptocurrency, Martinez specified when to expect the bottoming, noting that Bitcoin has approximately 288 days remaining before that level is potentially tested.

Notably, the chart showcased by the analyst drew comparisons with previous Bitcoin bear market drawdowns, where the leading cryptocurrency had consistently retraced between 70% and 84% from cycle highs.

Historically, the Bitcoin 2018 and 2022 bear markets followed similar patterns, with steep declines eventually forming macro bottoms before strong multi-year recoveries. This history may be repeated in the coming year, per data from the analyst.

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Notably, the current Bitcoin quarterly chart shows that the asset’s latest correction aligns closely with those past cycles. As such, Bitcoin could face a possible downside move of about 70% from the recent peak if history plays out again.

Per the analyst, the expected drawdown would place Bitcoin’s potential bottom near the $37,500 zone in the last quarter of 2026.

2026: not the end for BitcoinWhile the long-term Bitcoin prediction remains strongly bearish, positioning the asset on the verge of revisiting 2023 levels, the analyst further noted that such drawdowns would not mark the end for the asset but would instead propel it toward a larger rally in the long term.

Notably, bottoms like this have historically marked accumulation phases for long-term investors, as previous cycle bottoms have preceded significant bull markets. This means Bitcoin could deliver larger gains than previously seen in the years that follow.

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Aster price hovered above $0.70 following a 2.67% daily gain, supported by a bullish market trend. The move follows the launch of Phase 5 of Aster’s buyback program, which allocates up to 80% of platform fees to repurchases. 

The overall crypto market mood also shifted to the positive side, as Bitcoin, Ethereum, XRP, and Dogecoin recorded low price gains within 24 hours.

Aster Price Eyes Bullish Surge as Phase 5 Buyback Begins December 23
Aster has announced the launch of Phase 5 of its ASTER buyback program, set to begin on December 23, 2025. 

The program will deposit up to 80% of the daily commissions on the platform towards the purchase of ASTER tokens.

The plan will have 40%  of the daily fees allocated to auto on-chain buybacks. This will be done on a daily basis with a specific wallet to make sure that prices do not fall and the supply is also reduced gradually.

The 20% to 40%  will be left to strategic buybacks that will be prompted by certain market conditions.

Stage 5 Buyback Program: Structured Support for $ASTER

We’re implementing a systematic buyback program designed to strengthen $ASTER tokenomics and create sustainable value for our community.

Starting December 23, 2025, Aster will allocate up to 80% of daily platform fees…

— Aster (@Aster_DEX) December 22, 2025

Strategic Wallet Enables Targeted Market Support
The strategic buyback reserve offers Aster with the leeway to act in reaction to price volatility and in the short term market changes. 

This share will be issued on demand, which will leave the protocol with space to regulate the liquidity and safeguard the token value.

Buyback wallets are both publicly verifiable and on-chain. To ensure transparency, Aster has committed to providing reports on progress. 

The program is a step towards systematic enhancement of tokenomics of ASTER and the creation of community value in the long term.

Aster Price Holds, Eyes Key Breakout
The Aster price hovered around $0.714 on December 22, showing signs of consolidation after a steep downtrend.

Aster price still experiences a downward pressure below significant resistance at $0.80 despite recent stabilization.

An upward explosion beyond this would give way to a push up to $0.9 and even to $1.0. The price is capped within a limited range until that time, without a strong bullish momentum.

On the support side, the zone of $0.7 is an immediate floor. If sellers regain control, Aster price could drop toward $0.650 or even $0.6, where previous buying interest was observed.

Source: ASTER /USD 4-hour chart: Tradingview
The RSI is at 44.39, and it remains below the neutral 50 point, which indicates that there is not much bullish action.

In the meantime, the MACD line has penetrated the signal line, yet the histogram is shallow green bars, signifying early, but weak, bullish divergence.

Frequently Asked Questions (FAQs)

Aster’s Phase 5 buyback program allocates up to 80% of platform fees to ASTER token repurchases starting December 23, 2025.

40% goes to automatic daily buybacks, while 20%–40% is reserved for strategic, market-triggered purchases.

TLDR

Aave Labs submitted a governance proposal to vote without notifying its author, triggering criticism from DAO members.
Ernesto Boado publicly disavowed the proposal, stating it was submitted using his name without consent.
The proposal seeks DAO control over Aave’s brand assets, including domains, GitHub, and social media accounts.
Community concerns grew after recent revenue decisions, including fee redirection and low-return incentive programs.
The dispute follows the SEC closing its four-year investigation into Aave, with no enforcement action taken.

Aave Labs is under scrutiny after it pushed a governance proposal to a DAO vote without informing the original proposal’s author. The proposal concerns control over Aave’s brand assets and was submitted before community discussions concluded.

Author Rejects Vote Submission as DAO Debates Brand Control
Aave Labs moved a critical brand ownership proposal to Snapshot, using the author’s name without notice. Ernesto Boado, co-founder of BGD Labs and the proposal’s author, publicly disavowed the submission. “This is not, in ethos, my proposal,” Boado stated on the governance forum. He said the company broke trust by submitting the proposal with his name during an ongoing discussion phase.

To be very clear:

– This is not, in ethos, my proposal. Aave Labs has (for whatever reason) unilaterally submitted my proposal to vote in a rush, with my name on it, and without notifying me at all. If asked, I would not have approved it.

– It was not my intention to submit the… https://t.co/JTWoMMNcQc

— Ernesto (@eboadom) December 22, 2025 

He added, “Aave Labs has unilaterally submitted my proposal to vote in a rush, with my name on it.” The proposal requests legal transfer of brand assets, including aave.com, GitHub, and social accounts, to the Aave DAO. Boado’s version outlines legal protections and anti-capture mechanisms for the DAO’s benefit. Community concerns escalated after Aave Labs integrated CowSwap over Paraswap, redirecting fee revenues away from the DAO.

Contributors also pointed to Horizon market results, which brought low returns despite major incentives. Through a post on X, Marc Zeller of ACI said the DAO had paid “four times” for current assets through the ICO, token dilution, service fees, and mining rewards. He stated that current control fails to reflect those contributions. He also criticized how Avara, Aave Labs’ parent, controls key communication channels.

Aave’s CEO Defends Action While Governance Conflict Deepens
Stani Kulechov, Aave’s founder, defended the decision, saying discussions had already taken place. “The discussion has been going over the past five days,” he said in a post. He claimed that submitting the proposal to Snapshot aligned with governance rules.

Those who wonder, yes the vote is legitimate

– The discussion has been going over the past 5 days already with various of opinions and takes, a timeline set on the ARFC temp check (see more https://t.co/KovomHiB6H)

– The Snapshot is in compliance of the governance framework

-… https://t.co/nZoixZvbwl

— Stani.eth (@StaniKulechov) December 22, 2025 

Kulechov also stated that other providers use the same process without backlash and said “people are tired of this discussion.” However, critics argued his defense ignored conflict of interest concerns due to his leadership role at Aave Labs. Duo Nine said Kulechov was “not acting in good faith anymore.”

Analyst Ignas linked the controversy to prior governance disputes at Uniswap. He said such tensions often emerge when teams operate both products and decentralized protocols. Critics claim the firm is extracting brand value built collectively by the DAO. As reported by Blockonomi, the accusation comes as the SEC previously concluded its four-year investigation into Aave without enforcement. The probe, launched in 2021, targeted whether Aave’s offerings violated U.S. securities laws or required registration.

Shiba Inu open interest jumped 8% to $75.76M in 24 hours, representing over 10 trillion SHIB tokens.

Newton Gitonga2 min read

22 December 2025, 04:43 PM

Shiba Inu has experienced a notable increase in derivatives market activity over the past day. SHIB open interest has climbed nearly 8%, signaling renewed trader engagement as the year draws to a close.

Data from CoinGlass shows open interest reached $75.76 million within 24 hours. This figure represents over 10 trillion SHIB tokens in unsettled positions. The surge marks a reversal from recent declining trends in the metric.

Open interest measures the total number of outstanding derivative contracts that remain active. An increase typically indicates fresh capital entering the market. Traders are opening new positions rather than closing existing ones.

Year-End Positioning Drives Market ActivityResearch firm 10x Research recently highlighted the current state of crypto markets. Holiday trading typically brings reduced liquidity across digital assets. However, the firm's analysis reveals deeper implications beyond seasonal patterns.

Futures markets, exchange-traded fund flows, and options activity are all pointing in the same direction. Traders are actively managing risk as the year concludes. This coordinated behavior reflects a cautious approach to market exposure.

The derivatives market provides insights into investor sentiment. Rising open interest combined with price stability can indicate building momentum. Traders are laying groundwork for potential moves in the coming weeks.

Price Action Remains Contained Within Narrow RangeShiba Inu's price showed modest gains over the 24 hours. The token traded at $0.000007344, representing a 1.83% increase. Despite this short-term uptick, weekly performance remains negative.

SHIB price chart, Source: CoinMarketCap

The cryptocurrency has declined 7.05% over the past seven days. This weakness reflects broader market conditions affecting many digital assets. Price volatility has been subdued compared to previous periods.

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Newton Gitonga

Newton Gitonga covers cryptocurrencies, blockchain, and digital finance. He specializes in breaking down complex trends with clear, data-driven reporting. His work focuses on market analysis, technical insights, and the evolving role of altcoins in shaping global markets.

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Latest Shiba Inu News Today (SHIB)

The DEX said all user funds are fully solvent and verifiable, urging critics to run a node and check balances directly on the blockchain.

Hyperliquid has strongly denied claims that its protocol lacks enough collateral, stating that its on-chain assets are over $4.3 billion and that all user funds are properly managed.

The detailed rebuttal comes after a widely shared article questioned the financial integrity and transparency of one of crypto’s largest on-chain derivatives venues, which has more than $4.1 billion in total value locked (TVL) according to DefiLlama.

Point-by-Point Refutation of Allegations
Hyperliquid’s response, posted on X on December 22, pointed out that the insolvency allegation stemmed from an accounting error rather than a real shortfall. The protocol explained that the author of the article in question failed to include native HyperEVM USDC balances, which run alongside the Arbitrum bridge. When both are counted, Hyperliquid said total USDC on HyperCore stands at $4.351 billion.

“The Hyperliquid blockchain state is fully and verifiably solvent,” the team wrote, adding that “every dollar is accounted for” and that anyone can independently confirm balances by running a node and checking on-chain data. The protocol also rejected claims of retroactive volume manipulation, saying the cited functions exist only on testnet and are used for stress-testing fee logic.

“Testnet-only features that enable more rigorous testing of edge cases do not undermine the chain’s integrity,” it wrote.

It also noted that those code paths are unreachable on mainnet and will be removed entirely to avoid confusion. Other allegations touched on supposed “god mode” privileges, oracle control risks, liquidation cartels, hidden lending activity, and the ability to freeze the chain through governance.

However, Hyperliquid said these points reflected misunderstandings of its architecture. For example, it explained that CoreWriter can’t create tokens or transfer user money without approval, the prices for validator-run perps come from an average of major exchanges, and liquidation support is managed by a community-owned liquidity pool that anyone can access.

“Every order, trade, and liquidation is available in real time during execution,” the team said.

They also argued that the decentralized exchange’s fully on-chain design offers stronger guarantees than competing perps venues with centralized sequencers.

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Bitcoin (BTC) Retreats to $90K, Hyperliquid (HYPE) Plunges by 9% Daily: Market Watch

DEXs Hit All-Time High of $419 Billion Volume Despite Market Corrections: CoinGecko

‘Insider’ OG Whale Back in Action: 3,003 BTC Transferred Amid Aggressive Shorting

Price Pressure Amidst Major Supply Proposals
Hyperliquid’s defense of its fundamentals comes at a volatile period for its native HYPE token. After reaching an all-time high near $59 in mid-September, the asset fell dramatically, and at the time of writing, it was trading around $25, representing a decline of approximately 24% over the past month and about 60% from its peak.

Meanwhile, there have been significant supply-side developments, with the Hyper Foundation proposing a validator vote to permanently burn about 37 million HYPE tokens, which is roughly 10% of the circulating supply and is currently held in its Assistance Fund.

If approved, nearly $1 billion worth of tokens would be removed from supply. Validators are set to decide on the proposal by December 24. However, this deflationary move is set against an upcoming token unlock of 9.92 million HYPE scheduled for December 29, which could introduce further selling pressure.

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Journalist

Posted: December 22, 2025

This cycle is definitely looking different from the past. 

No wonder the market’s moving with extra caution. Take the altcoin scene, for example. A few years ago, volatility this high would’ve had investors diving into “high-risk, high-reward” plays. 

Fast-forward to now, the Altcoin Season Index shows only 12 alts in the green against Bitcoin [BTC]. Despite this divergence, though, Ethereum [ETH] is sticking to a similar playbook, at least on the derivatives side.

Source: Alphractal

Notably, Ethereum has gone through a classic deleveraging event.

From the chart above, ETH’s OI has dropped over 50% from its $70 billion peak before the October crash, roughly a $35 billion leverage flush. By comparison, BTC’s OI is down about 38% over the same period.

Technically, this shows Ethereum took a deeper hit, with its 1.3% fallout versus Bitcoin so far in Q4 not being random. The key question now: Does this position ETH for a stronger run once the market flips back to risk-on?

Structural strength set Ethereum up for Q1 2026
As a Layer 1, Ethereum’s value goes beyond just its spot price.

Its strong presence across key sectors (DeFi, RWA, stablecoins, TradFi, NFTs, and more) speaks to the “long-term” potential of ETH. Consequently, that makes its consolidation around $3k feel less random.

Backing this, since the drop to $3k on the 17th of November, Ethereum’s on-chain metrics have stabilized. For instance, its TVL, after a $20 billion Q4 squeeze, has been hovering around $70 billion since November.

Source: DeFiLlama

Meanwhile, Ethereum’s TVS is showing a similar pattern. 

Data shows that ETH’s TVS hit an ATH of 36.27 million on the 18th of November and has been hovering above 36 million since. Taken together, this shows that despite volatility, activity around ETH remains steady.

Combine this with ETH’s leverage flush, structural resilience, and on-chain stability, it looks like ETH’s Q4 bleed versus BTC isn’t a setback. Instead, it could be setting the stage for an ETH/BTC breakout into Q1 2026.

Final Thoughts

Ethereum has already flushed excess leverage, while on-chain metrics have stabilized, signaling structural strength despite Q4 volatility.
This deeper Q4 drawdown versus BTC may be constructive, potentially setting the stage for an ETH/BTC breakout.

Ritika Gupta is a Financial Journalist and Geopolitical Analyst at AMBCrypto, specializing in the critical intersection of world politics, economic policy, and the cryptocurrency markets. Her analysis is informed by her distinguished background, which includes professional experience at major news network.
She holds a Bachelor's degree in Political Science and Psychology from Gargi College, University of Delhi. This academic training provides her with a sophisticated framework for dissecting complex issues such as international regulations, government fiscal policies, and the geopolitical forces that directly influence asset valuations.
At AMBCrypto, Ritika applies this expert lens to synthesize macroeconomic data and political developments, offering readers a deeper context for market movements. She excels at explaining not just what is happening in the market, but why it is happening. Her work is dedicated to providing strategic insights that empower readers to understand the complex relationship between global events and their digital assets.

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.

The new week has started bullish for most of the cryptocurrencies, according to CoinMarketCap.

Top coins by CoinMarketCapXRP/USDThe rate of XRP has risen by 1.89% over the last 24 hours.

Image by TradingViewOn the hourly chart, the price of XRP is near the local resistance of $1.9493. If bulls can hold the gained initiative, the upward move is likely to continue to the $1.97-$1.98 range.

Image by TradingViewOn the bigger time frame, one should focus on daily candle closure in terms of the $1.9491 level. If its breakout happens, the accumulated energy might be enough for a test of the $2 zone. 

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Such a scenario is relevant until the end of the week.

Image by TradingViewFrom the midterm point of view, the price of XRP is far from the main levels. Thus, the volume is low, which means none of the sides has got enough strength for a sharp move. In this case, traders are unlikely to expect increased volatility this month.

XRP is trading at $1.9292 at press time.

Dogecoin price forms an inverse head-and-shoulders pattern near $0.13, suggesting downside exhaustion as bulls attempt to reclaim key resistance for a potential recovery rally.

Summary

Inverse head and shoulders forms around the $0.13 support zone.
Price must reclaim the neckline and Point of Control with volume.
Breakout could open a move toward the $0.15 resistance.

Dogecoin (DOGE) price is showing early signs of a potential trend reversal after forming an inverse head-and-shoulders pattern near the $0.13 level. This structure has emerged following an extended downtrend, a context in which inverse head-and-shoulders patterns often carry greater technical significance.

While confirmation is still required, the developing formation suggests that selling pressure may be fading and that buyers are beginning to reassert control at key support.

Dogecoin price key technical points

Inverse head and shoulders structure forms around $0.13, signaling possible downside exhaustion.
Price is attempting to reclaim key resistance near $0.12, a level that must hold on a closing basis.
A breakout above the Point of Control with volume would confirm the reversal, opening a move toward $0.15.

DOGEUSDT (2H) Chart, Source: TradingView
The inverse head-and-shoulders pattern on Dogecoin is currently well-defined, with the left shoulder, head, and right shoulder forming beneath the Value Area Low of the recent trading range. This placement is essential, as reversal patterns that develop below value often indicate that price is attempting to transition from acceptance at lower levels back toward equilibrium.

The “head” of the pattern represents the deepest point of selling pressure, where DOGE briefly traded lower before buyers stepped in aggressively. The subsequent higher low forming the right shoulder suggests that sellers were unable to push the price to new lows, a classic sign of weakening bearish momentum, a dynamic also reflected as DeepSeek AI outlines potential price paths for XRP, Solana, and Dogecoin.

At present, Dogecoin is attempting to reclaim the $0.12 resistance zone, which acts as the neckline region of the pattern. A successful reclaim of this level on a closing basis would be a critical step toward confirmation. Until this occurs, the structure remains a developing setup rather than a completed reversal.

From a volume-profile perspective, the Point of Control (POC) sits just above current price. This level represents the highest traded volume within the recent range and often acts as a strong barrier during transitions in market structure. For the inverse head and shoulders pattern to fully activate, DOGE must break above the POC with strong volume expansion. Without volume confirmation, upside moves risk becoming short-lived relief rallies rather than sustained trends.

Market structure also supports cautious optimism. While Dogecoin remains within a broader downtrend, the formation of higher lows during the right shoulder phase suggests that downside momentum is slowing. In downtrending markets, inverse head-and-shoulders patterns often signal the transition from distribution to accumulation, particularly when they form at historically defended support levels.

If DOGE successfully reclaims the neckline and POC, the pattern projects a measured move toward the $0.15 resistance level, which aligns with prior supply and short-term structural resistance. This level would serve as the first significant test of bullish strength, where profit-taking and selling pressure are likely to emerge.

Momentum indicators and volume behavior will be essential in the coming sessions. A rising volume profile alongside impulsive candles through resistance would significantly strengthen the bullish case. Conversely, weak volume and repeated rejections would suggest continued consolidation rather than immediate reversal.

What to expect in the coming price action
If Dogecoin reclaims the $0.12–$0.13 resistance zone and breaks above the Point of Control with conviction, the inverse head-and-shoulders pattern would be confirmed, opening the path toward $0.15. Failure to reclaim these levels would keep DOGE range-bound and delay confirmation of a reversal.

The Cardano ecosystem is drawing renewed attention after NIGHT, a Cardano native asset, recorded an explosive surge in trading activity over the past 24 hours. According to data shared by the Cardano-focused account Cardanians, NIGHT reached nearly $9 billion in trading volume within a single day, briefly ranking as the fourth-most-traded cryptocurrency globally. During this period, NIGHT trailed only industry heavyweights Tether (USDT), Bitcoin (BTC), and Ethereum (ETH), while surpassing other major cryptocurrencies such as XRP, USDC, and Solana.

Cardanians highlighted the milestone in a widely shared post, noting that a Cardano native asset achieving such high trading volume is a significant development for the network. The post emphasized the growing momentum within the Cardano ecosystem and suggested that NIGHT’s performance reflects increasing market interest and liquidity around Cardano-based tokens.

At the time of writing, data from CoinMarketCap shows that NIGHT’s 24-hour trading volume had slightly cooled to approximately $8.38 billion. Even with this modest pullback, the figure remains notable, especially when compared to established cryptocurrencies. Over the same 24-hour period, around 79.3 billion NIGHT tokens were traded, underscoring the scale of activity surrounding the asset.

This trading volume comfortably exceeded that of XRP, which recorded about $2.15 billion in transactions during the same timeframe. The comparison highlights just how significant NIGHT’s recent performance has been, particularly given XRP’s long-standing position as one of the most actively traded digital assets in the market.

The sudden spike in NIGHT trading volume has sparked discussion across the crypto community, with many observers pointing to increased speculation, heightened visibility, and growing adoption of Cardano native assets as possible contributing factors. While short-term trading surges can be volatile, NIGHT’s ability to compete with top-tier cryptocurrencies in daily volume has positioned it as one of the most talked-about tokens in the current market cycle.

As market participants continue to monitor volume trends and price movements, NIGHT’s performance may serve as a broader indicator of rising interest in Cardano-based projects and the evolving dynamics of the cryptocurrency trading landscape.

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Ether’s (ETH) price reclaimed the $3,000 level on Monday, a 16% rebound from the $2,620 multimonth low reached on Nov. 21. Market analysts pointed to key data metrics that suggest that ETH is “building up for breakout” to higher highs.

Key takeaways:

Ethereum whales accumulated aggressively over the last six months.

Robust network activity, Ethereum scaling upgrades in January are tailwinds for ETH.

Traders expect ETH to rally to all-time highs once the barrier at $4,000 is broken.

What’s behind Ether’s rebound?Ethereum whales remained confident about the prospects of a further rally, using the recent pullback to accumulate more tokens. 

Data from CryptoQuant revealed a growing divergence between retail-sized wallets and large investors. 

Whale wallets with a balance of 10,000-100,000 ETH hold over 22 million tokens, after rapid accumulation over the last six months.

Meanwhile, retail and mid-sized investors have been net sellers, with their holdings on the decline since 2024. This points to redistribution rather than speculative inflows into these wallets.

“Large whales holding over 10K do not accumulate during a rally. They only accumulate when $ETH is undervalued before the rally begins,” said analyst CW, in a Dec. 21 post on X, adding:

“And they have significantly increased their holdings since July, indicating that they expect an $ETH rally.” Ethereum: Balance by holder valueThe fact that the whale buying rate has reached all-time highs “means that the upcoming rally has the potential to be an all-time high level,” CW added.

This aligns with a sharp decrease in ETH supply on centralized exchanges in the past six days, according to data from Glassnode.

The ETH supply on exchanges dropped by 45% to a nine-year low of 10.2 million ETH on Sunday from 18.5 million ETH on July 1.

A declining balance on exchanges suggests less supply that can be immediately sold, as more ETH is locked up in smart contracts or moves to cold storage.

ETH balance on exchanges. Source: Glassnode“$ETH supply on exchanges is dropping fast,” said analyst DustyBC Crypto in a recent X post, adding:

“Supply shock incoming.”Ethereum’s network activity bounces backEthereum’s network activity continues to show strength, with active addresses increasing by 22% over the last seven days, according to Nansen data.

The average monthly transaction count has also increased by 16% over the same period to 11.3 million.

Top blockchains ranked by seven-day AAs and transaction count, USD. Source: NansenAdditional data from Santiment reveals a surge in new wallets created on the Ethereum network, with an average of 163,000 new addresses per day in December, up from 124,000 in July.

Ethereum daily network growth. Source: SantimentThis is a “a clear rise in network activity for the world’s second‑largest crypto,” said Rananjay Singh in response to Ethereum’s network growth adding:

“Adoption is quietly picking up.”The number of transactions continues to be at all-time high levels, signalling an overall uptrend in network demand. 

ETH: Number of transactions. Source: GlassnodeAs Cointelegraph reported, Ethereum network transaction throughput is set to increase from 60 million to 80 million in January, which the market may have yet to price in.

Analysts expect Ether’s “upside breakout”Data from Cointelegraph Markets and TradingView shows ETH trading at $3,061, up 2.5% over the last 24 hours.

As Cointelegraph reported, breaking $3,200 is key to ETH’s upside potential and sets the stage for a possible rally to $4,000.

“Ethereum is building up for a breakout upwards,” said MN Capital founder Michael van de Poppe in his latest Ether analysis on X. 

“Another test of the crucial resistance, which would mean that a breakout, after this amount of tests, is likely to occur,” the analyst said, referring to the $3,100-3,200 resistance, which rejected recovery attempts earlier this month.

Van de Poppe said that the altcoin was making a “clear uptrend” on the upside, a sign that buyers are willing to step in at higher and higher levels. 

“I would assume that this is going to break to the upside, and the next target zone would be $3,650-3,700 for that.” ETH/USD daily chart. Source: Michael van de PoppeAccording to Bitcoinsensus, Ether remains bullish within a “broadening channel structure,” which could see the ETH/USD pair start to gravitate to the upper band of the pattern.

“The upward potential target sits right around $7K.” ETH/USD chart. Source: BitcoinsensusAs Cointelegraph reported, the 50-day EMA at $3,150 is a critical level for the bulls to overcome, as a break above could propel ETH price toward $3,450 and later to $4,000.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.

TL;DR:

Curve DAO rejected a grant of 17.4 million CRV, about $6.2 million, for Swiss Stake AG, the core development firm managed by Michael Egorov.
The vote ended 54.46% against and 45.54% in favor, with Yearn Finance and Convex Finance-linked addresses accounting for nearly 90% of votes cast against.
Commenters cited centralization concerns, urged installment-based funding, and noted CRV’s tape: up 1.5% on the day, down nearly 50% over three months.

Curve DAO tokenholders have rejected a governance proposal to allocate 17.4 million CRV, valued around $6.2 million, to Swiss Stake AG, the core development firm behind the decentralized exchange. The request, submitted by founder Michael Egorov, sparked forum debate over how the protocol should finance builders and how concentrated voting power has become. In the final tally, a narrow majority voted no, and voting data highlighted the influence of large DeFi-aligned addresses. The decision reframed funding as a governance stress test, setting up new questions about transparency and next steps for Curve’s roadmap in 2026.

Why tokenholders rejected the grant
The rejected proposal sought to allocate 17.4 million CRV tokens, worth about $6.2 million, to Swiss Stake, the firm overseeing Curve’s development and managed by Egorov. The request was presented as a grant for the DEX team. Supporters positioned the grant as runway for software development, infrastructure, security work, and ecosystem support for Swiss Stake’s roughly 25-person team. In the report’s context, Curve remains a heavyweight venue, with scale that raises the stakes of maintenance work, sitting as the third-largest DEX in DeFi and holding more than $2.1 billion in total value locked, per DeFiLlama.

When the ballot closed, the DAO rejected the proposal with 54.46% voting against and 45.54% voting in favor. That margin mattered, but so did who provided it. Voting data showed addresses linked to Yearn Finance and Convex Finance accounted for nearly 90% of the votes cast against the grant. For many observers, the concentration of decisive voting power amplified existing concerns about how influence is distributed among major DeFi actors, even when decisions are technically open to all active participants. Commenters flagged centralization risks and asked whether Curve’s governance leans heavily on a small group.

Beyond the tally, tokenholders emphasized process. Forum comments said Swiss Stake should explain how prior funds were spent before seeking more, and others suggested breaking grants into installments to limit pressure on CRV’s price. The report said the Curve team did not respond to a request for comment. For context, in August 2024 Egorov sought over 21 million CRV, around $6.3 million then, and the DAO approved it with nearly 91% support. DAO expectations are tightening, with parallels drawn to Aave’s fee debate. CRV was up 1.5% but still down nearly 50% in three months.

Billionaire Bitcoin advocate Michael Saylor’s company, Strategy Inc., increased its U.S. dollar reserves by $748 million last week, lifting total cash liquidity to $2.19 billion, according to a regulatory filing released today.

The update confirms that the company continues to hold 671,268 bitcoin, leaving its total BTC position unchanged during the reporting period from Dec. 15 to Dec. 21. 

Strategy remains the largest corporate holder of bitcoin, with an aggregate purchase price of roughly $50.33 billion.The increase in cash stems from sales conducted under the company’s at-the-market equity offering program. 

During the week, the company sold roughly 4.54 million shares of its Class A common stock, generating $747.8 million in net proceeds after commissions. No preferred stock was issued, despite multiple preferred share classes remaining available for sale.

As of Dec. 21, Strategy reported more than $41 billion in remaining capacity across its common and preferred stock ATM programs. 

The filing shows that the company did not purchase any bitcoin during the period. Its holdings remained steady at 671,268 BTC, acquired at an average price of $74,972 per coin, inclusive of fees and expenses. The lack of accumulation marks a pause following a large bitcoin purchase earlier in December.

Strategy has historically relied on equity and debt issuance to fund bitcoin acquisitions. The absence of new purchases suggests a tactical pause, rather than a change in long-term strategy.

Strategy’s dollar reserves The company first disclosed the establishment of a dedicated U.S. dollar reserve on Dec. 1, when the balance stood at $1.44 billion. The reserve is intended to support preferred dividend payments, service debt obligations, and manage short-term volatility. 

The increase to $2.19 billion strengthens Strategy’s near-term financial flexibility.

Management did not specify how or when the cash will be deployed. In prior filings, Strategy has said capital raises are designed to support long-term bitcoin accumulation while maintaining sufficient liquidity to operate through market cycles.

The continued use of at-the-market offerings underscores Strategy’s active engagement with capital markets. 

While bitcoin holdings were unchanged during the week, the company reiterated its commitment to transparency by publishing regular updates through its investor dashboard and SEC filings.

MSCI and Strategy  All this is happening while MSCI considers a rule change that could reshape how crypto-heavy companies are treated in global equity markets. MSCI is weighing whether to remove firms like Strategy from its major indexes if more than 50% of their assets are held in digital assets, arguing that these companies resemble investment funds rather than operating businesses. 

Under the proposal, firms classified as “Digital Asset Treasury” companies would be excluded to preserve benchmark integrity and limit volatility. Strategy, the largest corporate holder of bitcoin, sits at the center of the debate, but several other companies with similar balance-sheet strategies could also be affected. 

Strategy has formally pushed back, calling the 50% threshold arbitrary, discriminatory, and unworkable. The company argues it is an operating technology business building digital credit and financial infrastructure, not a passive crypto vehicle. 

Analysts and industry participants have also criticized the proposal, warning that exclusion could force index funds to sell billions of dollars’ worth of shares. 

Estimates suggest potential outflows of $2.8 billion to $9 billion for Strategy alone, and $10 billion to $15 billion across the sector. MSCI is expected to decide by January 15, 2026, ahead of a potential February index implementation.

The outcome of this decision could send shockwaves through the market and potentially impact Bitcoin price performance over the coming months.

Earlier today, Citigroup cut its price target on MicroStrategy to $325 per share from $485. The bank maintained its buy rating on the stock. At the time of writing, Bitcoin is trading near $90,000.

Michael Saylor at BTC Inc’s Bitcoin Amsterdam Conference

Micah Zimmerman

Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.

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Tanzeel Akhtar

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Tanzeel Akhtar has been reporting on cryptocurrency and blockchain technology since 2015. Her work has appeared in leading publications including The Wall Street Journal, Bloomberg, CoinDesk, Bitcoin...

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December 22, 2025

Bitmine Immersion Technologies has disclosed that it now controls 3.37% of the total Ethereum token supply, marking a major milestone in its stated ambition to acquire 5% of all ETH—a target it refers to as the “Alchemy of 5%.”

The update was released on Monday as part of a broader announcement detailing the company’s rapidly expanding crypto treasury and capital market footprint.

As of December 21, Bitmine reports holdings of 4,066,062 ETH valued at approximately $2,991 per token, alongside 193 Bitcoin and $1.0 billion in cash. Including a $32 million equity stake in Eightco Holdings and other crypto assets classified as “moonshots,” the company’s total crypto, cash, and opportunistic holdings reached $13.2 billion.

Ethereum’s circulating supply currently stands at roughly 120.7 million tokens, making Bitmine the world’s largest ETH treasury holder.

Treasury Growth, Institutional Backing, and Market LiquidityBitmine’s ETH accumulation has accelerated sharply in recent months. According to the company, it added 98,852 ETH in the past week alone, pushing total holdings beyond the 4 million ETH threshold just 5.5 months after initiating its strategy.

Fundstrat Chairman Tom Lee said the pace of accumulation reflects Bitmine’s role as a bridge between traditional finance and on-chain infrastructure, particularly as tokenization and decentralized finance gain institutional traction.

The company reports that it leads crypto treasury peers both in the velocity of increasing crypto net asset value (NAV) per share and in the trading liquidity of its equity.

BMNR stock is now the 66th most traded stock in the United States, with an average daily trading volume of $1.7 billion over the past five days, ranking just behind Wells Fargo and ahead of Chevron among more than 5,700 listed U.S. equities.

Bitmine remains backed by a prominent group of institutional and strategic investors, including ARK Invest’s Cathie Wood, Founders Fund, Pantera Capital, Galaxy Digital, Digital Currency Group (DCG), Kraken, Bill Miller III, MOZAYYX, and personal investor Thomas “Tom” Lee.

Upcoming Shareholder MeetingBitmine ranks as the number one Ethereum treasury globally and the second-largest crypto treasury overall, behind Strategy Inc., which holds more than 671,000 Bitcoin.

Beyond accumulation, Bitmine is advancing its “Made in America Validator Network” (MAVAN), a secure staking infrastructure platform expected to launch in early 2026.

The company will hold its annual stockholders meeting at the Wynn Las Vegas on January 15, 2026, inviting shareholders to attend in person as it outlines the next phase of its ETH-centric strategy amid what it describes as a transformational regulatory moment for U.S. financial markets.

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Pi Coin price has started to show early signs of a rebound after weeks of pressure. Price action still looks muted on the surface, trading largely flat over the past seven days. But underneath, capital behavior is shifting in a way that usually appears before larger moves. Money is beginning to return, and dips are no longer being sold aggressively.

The focus is now very specific. Pi Coin’s repeated interaction with the $0.21 level is shaping both momentum and trader behavior. Whether the PI price finally moves away from this zone or stays trapped by it will likely decide the next meaningful trend.

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Capital Returns as Dips Get AbsorbedThe first signal comes from capital flow.

The Chaikin Money Flow (CMF) tracks whether big money is flowing into or out of an asset by combining price and volume. When CMF stays above zero, it suggests buyers are in control overall.

Pi Coin’s CMF has crossed above the zero line for the first time in weeks and has also broken above a descending trendline that previously capped buying attempts. This is important because the last time CMF failed at this same trendline after crossing it briefly, Pi Coin went on to correct by roughly 32%. This time, for an upside, the CMF must hold above the trend line and also the zero line.

Big Money Returns: TradingViewWant more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

Dip behavior reinforces that shift.

The Money Flow Index (MFI) measures buying and selling pressure by factoring in both price movement and traded volume. Unlike CMF, which tracks broader capital flow, MFI focuses on whether traders are actively buying dips or selling into them.

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Between December 6 and December 19, Pi Coin’s price trended lower, while MFI rose. That divergence shows that even as price softened, volume-weighted buying increased. In simple terms, sellers pushed prices down, but buyers quietly absorbed supply.

Pi Coin Dips Are Being Bought: TradingViewWhen CMF stabilizes above zero, and MFI rises during pullbacks, it usually points to early accumulation, not distribution. That combination suggests capital is positioning, even if the price has not responded yet.

Why the $0.21 Pi Coin Price Obsession MattersThe $0.21 level has dominated Pi Coin’s price behavior since late October. It has acted as both a ceiling and a floor, repeatedly pulling the price back toward it.

When Pi Coin broke above $0.21 on October 26, the price rallied roughly 42%. When it lost the same level on December 11, the PI price slid about 11%. That history explains why the price keeps orbiting this zone and why PI traders consider it critical.

If the Pi Coin price can reclaim and hold above $0.21, the next logical target sits near $0.24, close to the structurally strong 0.618 Fibonacci level. That move would imply upside of roughly 21% from current levels. But if price fails to move out of this zone again, the market risks remaining range-bound despite improving capital flows.

Pi Coin Price Analysis: TradingViewNot being able to reclaim $0.21 with a daily close could open the downside near $0.19 or even $0.15 if the money flows weaken.

For now, Pi Coin’s setup is pretty direct. Capital is returning, dips are being bought, and selling pressure has eased. But real progress only comes if the Pi Coin price finally breaks free from its fixation on $0.21. Until then, accumulation can continue quietly, but the upside remains delayed.

Ghana has legalized bitcoin and crypto trading after parliament passed the Virtual Asset Service Providers Bill, 2025, ending years of regulatory uncertainty around digital assets in the West African nation.

The law establishes a formal framework for licensing, supervising, and regulating crypto-related businesses, according to Bloomberg reporting.

 It also grants the Bank of Ghana authority to oversee the sector, with a focus on consumer protection, financial stability, and risk management.

Bank of Ghana Governor Dr. Johnson Asiama announced the development over the weekend in Accra, saying the legislation brings crypto activity “within clear, accountable, and well-governed boundaries.”

Under the new framework, individuals will no longer face arrest or legal risk for trading cryptocurrency. However, companies offering digital asset services must now obtain licenses, comply with reporting requirements, and submit to ongoing supervision, according to reports.

Operators that fail to meet standards may face sanctions or closure.

The central bank said the move responds to concerns about fraud, money laundering, and misuse of customer funds, while recognizing the scale of adoption in the country. 

Ghanaians are starting to use crypto  Officials estimate that nearly 3 million Ghanaians — about 17% of the adult population — have engaged in cryptocurrency transactions.

Crypto transactions in Ghana reached roughly $3 billion in the year through June 2024, according to estimates by Web3 Africa Group. While smaller than Nigeria’s market, the figure highlights the growing role of digital assets in everyday commerce, remittances, and informal finance.

Asiama said regulation would also lower costs for banks, improve customer experience, and support small and medium-sized businesses. He added that a clear rulebook could attract responsible investors, exchanges, and fintech firms that previously avoided Ghana due to legal risk.

The Bank of Ghana said they plan to roll out licensing and supervisory rules in phases during 2026. Existing virtual asset service providers will be required to register and meet compliance standards to continue operating.

Officials said lessons from the 2022 global crypto market downturn influenced the legislation, particularly the need for safeguards against systemic risk and weak oversight.

Ghana joins a growing list of African countries moving toward formal crypto regulation as adoption accelerates across the continent.

Policymakers say the goal is not to ban digital assets, but to ensure their growth does not undermine monetary policy or financial stability.

Micah Zimmerman

Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.

Over the last few months, oil prices have collapsed below $60 a barrel alongside Bitcoin's slide from $126,000 in October to around $89,000 today.

So, does energy’s slide reflect weaker demand or an inflation break that could impact risk assets like Bitcoin going forward?

Brent closed at $58.92 and WTI at $55.27, the lowest settlements since early 2021.

That move can be read as a macro repricing toward abundant supply and softer consumption.

For crypto markets, that framing shifts the focus away from a simple “inflation down, risk up” narrative.

Instead, it raises the question of whether a growth scare tightens financial conditions before policy easing arrives.

Official outlooks lean toward surplus conditions extending into 2026The U.S. Energy Information Administration expects inventories to rise through 2026 and forecasts Brent around $55 in 1Q26, holding near that level thereafter.

The International Energy Agency sees supply growth outpacing demand growth into 2026, with supply up by 2.4 million barrels per day, while demand rises by 0.86 million barrels per day.

The World Bank has also laid out a downside-growth scenario where oil averages about $59 a barrel, tying price weakness to activity undershooting baseline assumptions.

Survey data, however, has not yet moved in lockstep with oil’s message, leaving markets to judge which signal leads.

A J.P. Morgan and S&P Global global composite PMI reading of 52.7 for November remained in expansion territory, consistent with roughly 3% annualized global GDP in that framing.

Expectations and employment growth were described as subdued by S&P Global.

In the U.S., S&P Global flash PMIs softened in December, with the composite at 53 versus 54.2 previously and services cooling.

In Europe, France’s flash composite PMI was about 50.1, near the stagnation line.

Bitcoin’s macro sensitivity in that setup tends to run through risk appetite and liquidity, not just inflation prints.

Why oil prices still matter for Bitcoin’s macro setupIf oil is reflecting a demand shock, equities and credit can wobble first, and BTC often trades as high beta during de-risking phases.

If financial stress builds, BTC has also tended to behave like a liquidity barometer, reacting quickly to tighter funding and wider credit spreads.

Rate-cut expectations can rise during a growth scare, but markets can still sell risk assets first if positioning and leverage adjust faster than policy.

So far, the recession dashboard that tends to matter most for crypto has not confirmed broad stress.

U.S. high-yield spreads remain near recent lows, with the ICE BofA U.S. High Yield Index option-adjusted spread around 2.95% in mid-December.

The Treasury curve is also positive, with the 10-year minus 3-month spread around +0.54% in late December.

That removes one common recession argument even as growth concerns circulate.

On labor, the real-time Sahm Rule indicator printed 0.43 for November 2025, below the 0.50 threshold associated with recession calls.

IndicatorLatest levelWatch levelBTC-relevant readSourceBrent, WTI$58.92, $55.27Holds near 2021 lowsRepricing toward weaker demand can pressure risk exposureFinancial TimesHY OAS~2.95%>4%Wider spreads can coincide with deleveraging and tighter liquidityFREDSahm Rule (real-time)0.430.50+Labor weakening can turn a growth scare into recession pricingFRED10y minus 3m~+0.54%Back below 0Curve reinversion can reinforce defensive positioningFREDGlobal composite PMI52.7<50 (sustained)Broad contraction can tighten earnings and credit expectationsS&P GlobalThree macro paths for Bitcoin as oil, rates, and growth divergeThe next few months will set up three paths that hinge on whether the the oil slump is mainly supply-driven or demand-driven.

If supply remains abundant, consistent with the EIA and IEA outlooks, while credit stays calm and the curve stays positive, BTC may remain range-bound.

In that case, volatility may center on rates and positioning rather than forced selling.

If PMIs drift toward 50 and unemployment edges higher, a standard risk-off phase can still pressure BTC even without a full funding squeeze.

That is because portfolio risk budgets often tighten ahead of realized recession data.

The more acute outcome would require confirmation from credit and labor, such as high-yield spreads moving materially wider and the Sahm Rule crossing 0.50.

Those conditions can coincide with reduced leverage and thinner liquidity.

Rates pricing is already reactive to softer data.

Reuters reported U.S. rate futures briefly raised odds of a January cut after jobs data showed unemployment rising in November.

That underscores how quickly the policy path can be repriced during a growth scare.

Whether that repricing supports Bitcoin depends on whether funding conditions stay steady as oil remains pinned near early-2021 levels.

TLDR

Table of Contents

TLDRThe Path to 5%Staking Plans Take ShapeGet 3 Free Stock Ebooks

BitMine Immersion Technologies (BMNR) purchased 98,852 ether tokens last week for roughly $300 million, bringing total holdings to 4,066,062 ETH
The company now controls 3.37% of the entire Ethereum supply, making it the largest institutional ETH holder globally
BitMine maintains $1 billion in cash reserves despite the purchase, with its ETH treasury valued at just over $12 billion
The firm is sitting on over $3 billion in unrealized losses as ETH prices dropped from $3,170 to below $2,800 last week
BitMine plans to launch its “Made in America Validator Network” (MAVAN) staking infrastructure in early 2026 to generate yield from its holdings

BitMine Immersion Technologies bought 98,852 ether tokens last week during a market downturn. The purchase, worth approximately $300 million at current prices, pushed the company’s total holdings past 4 million ETH.

The firm now holds 4,066,062 tokens, representing 3.37% of the entire Ethereum supply. This makes BitMine the largest known institutional holder of ether among publicly traded companies.

Tom Lee, Fundstrat chairman and BitMine’s leader, has been steadily accumulating ETH regardless of market conditions. While other institutional players scaled back purchases during recent price declines, BitMine maintained its buying strategy.

Bitmine Immersion Technologies, Inc., BMNR

The company’s cash position remained at $1 billion despite last week’s purchase. Its ETH treasury alone is valued at just over $12 billion.

Last week saw considerable volatility in crypto markets. ETH dropped from $3,170 on Monday to below $2,800 by Thursday. The token has since recovered above $3,000.

BMNR shares rose 4.5% in pre-market trading following Friday’s 10% bounce. The stock’s performance remains closely tied to ether’s spot price.

The Path to 5%
BitMine aims to control 5% of the total ether supply, a target Lee calls the “Alchemy of 5%.” The company is now two-thirds of the way to reaching this goal.

Last week’s acquisition was slightly lower than the previous week’s 138,000 ETH purchase. However, the firm remains on track with its long-term accumulation strategy.

The aggressive buying comes at a cost. BitMine is currently sitting on over $3 billion in unrealized losses on its ETH holdings, according to data from DropsTab.

These losses stem from purchases made earlier in the year when prices were higher. The company’s average cost basis remains above current market levels.

Staking Plans Take Shape
BitMine is preparing to monetize its massive ETH holdings through staking. The company plans to launch its “Made in America Validator Network” (MAVAN) in early 2026.

This staking infrastructure will allow BitMine to generate yield from its 4 million ETH holdings. The revenue stream could help offset operating costs and provide income independent of price appreciation.

The move would transform BitMine from a passive holder into an active participant in Ethereum’s network. The company aims to become a staking provider for institutional clients.

Currently, only one Wall Street analyst covers BMNR stock. That analyst maintains a Buy rating with a $47 price target, representing a potential 43.95% upside from recent levels.

The company’s strategy mirrors that of Strategy (MSTR), which has aggressively accumulated bitcoin. BitMine is applying the same approach to Ethereum, betting on long-term adoption of blockchain technology.

BitMine’s $300 million purchase last week occurred as ETH rebounded above $3,000, with the company maintaining its cash reserves at $1 billion.

A popular crypto analyst from Altcoin Daily has shared what he calls his worst-case scenario for Bitcoin in 2026.

In a recent video, the analyst explained that while he still sees strong long-term potential for Bitcoin, current market conditions mean investors should also consider a more bearish outcome.

What His Bear Case Looks LikeThe analyst clarified that this is not his main prediction, but rather a downside scenario if certain trends continue.

He said that even in a weak setup, Bitcoin could first see a short-term bounce toward $110,000. However, this move would likely be a “lower high,” meaning the price fails to break past previous peaks.

From there, Bitcoin could fall back toward a strong support zone between $60,000 and $65,000. This area is important because it was the all-time high of the last cycle, which often turns into support during market downturns.

According to the analyst, Bitcoin could stabilize and bounce from this level. But if the four-year cycle theory continues to hold, 2026 could still be a difficult year overall.

If the Four-Year Cycle HoldsAccording to several analysts, Bitcoin follows a repeating four-year cycle tied to its halving events. Under this pattern:

2026 would likely be a weak year
A temporary rebound could push Bitcoin back toward $95,000–$100,000
That level would act as resistance
A final sell-off could then send prices as low as $56,000
This would mean a final capitulation phase, similar to what has happened in past cycles, before conditions improve later.

The analyst stressed that this outlook represents his worst-case scenario, not his primary expectation. He said that his earlier bullish view included the possibility of Bitcoin reaching $150,000, which would challenge the traditional four-year cycle entirely.

Tom Lee’s Fundstrat’s bear case includes a pullback in the first half of 2026, with Bitcoin potentially falling toward $60,000–$65,000. Ethereum could drop to around $1,800–$2,000, while Solana may fall as low as $50–$75 before stabilizing.

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The XRP price has stabilized in the past few days as it jumped by ~9% from its lowest point this month. It was trading at $1.9315 today, Dec. 22, and is flashing three highly bullish patterns as potential catalysts build. 

XRP Price Technicals Show That a Rebound is Possible
The daily timeframe chart shows that the Ripple price has been in a strong freefall this year. It plunged from a high of $3.668 in July and bottomed at the key support at $1.8145. 

The ongoing XRP price crash has pushed it below the 50-day and 100-day moving averages. That is a sign that bears remain in control. Indeed, the price remains below the Supertrend indicator.

On the positive side, the coin has formed three chart patterns that may trigger a bullish breakout in the near term.

First, the value of Ripple has formed a bullish triple-bottom pattern at $1.8145, its lowest level in October, November, and December. This pattern is usually a sign that bears are afraid for placing short bets below the price.

Second, the token has formed an inverted head-and-shoulders pattern, which is a common bullish reversal pattern. Its neckline is shown in green, and it connects the highest swings since October 27.

Third, it has formed a falling wedge pattern, which is made up of two descending and converging trendlines, with a bullish breakout happening when the two lines are nearing their confluence.

Additionally, the Percentage Price Oscillator (PPO) and the Relative Strength Index (RSI) have formed a bullish divergence pattern. This is a contrarian pattern that happens when these indicators are rising as the price remains in a downward trend.

Therefore, the most likely XRP price prediction is bullish, with the initial target being the psychological level at $2. A move above that level will point to more upside, potentially to the key point at $2.50.

XRP Price Chart
The bullish outlook will be canceled if the token drops below the key support level at $1.8145. Such a drop will point to more downside, potentially to the psychological level at $1.50.

Top XRP Catalysts Have Aligned 
Meanwhile, third-party data shows that the XRP price has numerous catalysts that may push it higher in the near term.

The most important one is that the XRP ETF inflows have soared since their approvals in November. The total net inflows jumped to over $1.07 billion, with the net assets jumping to $1.2 billion. That growth is a sign of continued accumulation by American retail and institutional investors.

XRP ETF Inflows
Additionally, the Ripple USD (RLUSD) stablecoin is doing well, a trend that will accelerate after the expansion to other layer-2 networks like Base and Optimism. Its total assets have continued soaring and are currently at $1.33 billion. According to CMC, the daily volume of the RLUSD soared to 62% kn in the last 24 hours.

RLUSD Stablecoin Growth
XRP price may also benefit from the gradual increase in its futures open interest, which is a sign that investors are embracing leverage in the industry.

Frequently Asked Questions (FAQs)

The most likely XRP prediction is bullish as it has formed a falling wedge, an inverse head-and-shoulders pattern, and a triple bottom.

The token will likely rebound to $2 this year. Over time, the token may rebound to the next key psychological level at $2.5.

XRP is one of the most common bullish coins to buy because of its utility and popularity among investors.

World Liberty Financial, the Trump family’s crypto portfolio project, started the year with high hopes. But as the year draws to a close, the fund has barely seen gains.

US President Donald Trump announced the launch in September 2024 while he was still on the campaign trail for the 2024 elections. Led by his sons Donald Trump Jr. and Eric Trump, it marked a significant shift in tone for crypto policy in the US.

The program started strong. It launched its own World Liberty Financial (WLFI) governance token and made large acquisitions of high-market-cap cryptocurrencies.

The bull market in the summer/fall of 2025 pumped the Trump family’s share into the billions. But since it began trading publicly, the project’s token is down over 40%.

Public data about the WLFI token price only became available in September 2025.World Liberty Financial has mixed returnsWLFI completed its first token sale in October 2024. It sold about 20 billion WLFI tokens at $0.015 per token, raising about $300 million. This was followed by another token sale that ran from January 2025 into March, in which WLFI sold some 5 billion tokens at $0.05 per token. It raised roughly $250 million.

In March, the Trump family issued its own stablecoin, USD1. By June, they had penned a deal with PancakeSwap, a decentralized finance protocol owned by Binance, to promote the asset.

In August, World Liberty entered into a private placement and treasury deal with ALT5 Sigma Corporation. In the $1.5-billion deal, ALT5 traded 100 million shares of its common stock for WLFI tokens, essentially creating a crypto treasury.

In the bull run that defined much of the 2025 crypto market, WLFI made several large cryptocurrency acquisitions. It bought millions of dollars’ worth of a basket of assets, including $21.5 million in Wrapped Bitcoin (WBTC), Ether (ETH) and Move (MOVE). As of Dec. 22, top coins in the fund also include substantial holdings of USD1, several Aave-tied assets, as well as Mantle (MNT).

The table reflects data as of Dec. 22.
Public tracking data of the Trumps’ portfolio value only started in September 2025, when it was worth over $17 billion at the peak of the year’s bull market. As of Dec. 11, the assets in the fund are worth just under $8 billion, marking a 47% decrease.

Trump’s fund mired in controversyHistorically, US presidents have distanced themselves from any business ventures that could be seen as a conflict of interest with their responsibilities as the chief executive. Former President Jimmy Carter famously placed his peanut farm in a semi-blind trust while he held office.

Trump has taken the exact opposite approach, becoming actively involved in business ventures that would directly benefit from his own financial and political priorities. In September, as Bitcoin’s (BTC) price began to creep towards an annual high, the BBC reported that the Trump family’s share of World Liberty Financial was worth over $5 billion. This was realized largely through its contractual ownership of most of the WLFI tokens.

The Trump administration has faced repeated calls for inquiries over what opponents say are conflicts of interest. As early as April 2025, Senator Elizabeth Warren and Representative Maxine Waters sent a letter to the US Securities and Exchange Commission’s (SEC) then-acting chair, Mark Uyeda. In it, they asked the SEC to “preserve all records and communications regarding World Liberty Financial, Inc., the cryptocurrency company owned by President Trump’s family.” The commission was called upon to ascertain the extent Trump’s involvement could compromise its ability to regulate effectively.

In November, Warren repeated her call for a probe, following a report from Accountable.US, which claimed that World Liberty Financial sold tokens to sanctioned individuals with ties to Iran, North Korea and Russia.

White House Press Secretary Karoline Leavitt said the allegations were baseless. She blamed the media writ large for “continued attempts to fabricate conflicts of interest,” as they are “irresponsible and reinforce the public’s distrust in what they read.”

“Neither the president nor his family have ever engaged or will ever engage in conflicts of interest. The administration is fulfilling the president’s promise to make the United States the crypto capital of the world by driving innovation and economic opportunity for all Americans,” she said.

World Liberty itself said that it ran Anti-Money Laundering and Know Your Customer checks on potential buyers “and turned down millions of dollars from potential purchasers who failed the tests.”

The Trump family’s crypto ventures are not limited to World Liberty Financial. Trump Media and Technology Group Corp also operates the fintech brand Truth.Fi. In September, it bought 684.4 million Cronos (CRO) tokens at roughly $0.153 per token, totalling $104.7 million. This was part of a 50% stock, 50% cash exchange with crypto exchange platform Crypto.com.

Eric Trump and Donald Trump Jr. also founded and backed the crypto mining venture American Bitcoin. As of Dec. 10, the company’s total Bitcoin holdings amounted to 4,784 BTC, according to Solid Intel.

The overall value of World Liberty Financial’s portfolio has dropped significantly. Despite this marked decrease in value, World Liberty Financial is steaming ahead with new assets and deals. On Dec. 3, its co-founder Zach Witkoff announced that it will launch a suite of real-world assets (RWAs) starting in January 2026.

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