Market Signal Briefing

Nexo, a digital asset wealth platform with over $11 billion in assets under management, has become the official crypto partner of the Australian Open and several other major tennis events across the Summer of Tennis, through a partnership with Tennis Australia.

According to a December 17 announcement, Nexo will feature its branding prominently across key courts such as Rod Laver Arena, Margaret Court Arena, John Cain Arena, and Kia Arena, and coaching areas during the Australian Open, as well as throughout affiliated tournaments including the United Cup, Adelaide International, Brisbane International, and Hobart International.

The Australian Open is a flagship event held every January in Australia that spans three weeks, drawing over 1.2 million fans in 2025 and reaching a global audience of nearly two billion viewers.

As such, it is expected to offer Nexo’s suite of crypto products significant exposure to sports fans and mainstream audiences across key global markets.

“The Australian Open stands at the intersection of excellence and ambition – precisely where Nexo positions itself. Our partnership reflects a shared commitment to disciplined performance and long-term thinking. We are honored to join Tennis Australia in elevating the sport while showcasing the value of intelligent digital tools to a global audience,” Nexo Co-founder Antoni Trenchev was quoted as saying.

Nexo is also the first official crypto partner in the history of any Grand Slam tennis tournament, a milestone that further cements its leadership at the intersection of elite sport and digital finance.

Nexo doubles down on sports partnerships
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Throughout 2025, Nexo has focused on expanding its global sports footprint by forging several high-profile partnerships with major events across multiple disciplines, ranging from golf to tennis.

Some of the major deals it secured this year include title sponsorship of the Nexo Championships on the DP World Tour, official crypto partnerships with the Acapulco and Mifel Tennis Opens, and a multi-year agreement announced in August with the DP World Tour through 2027.

Against this backdrop, Nexo has also expanded its product suite with launches like the Nexo Card as part of its 2025 growth plan, while also focusing on establishing its footing across various regulatory jurisdictions.

This month alone, Nexo deepened its presence in Latin America through the strategic acquisition of Buenbit, a regional crypto platform that will help accelerate the company’s expansion in Spanish-speaking markets.

Crypto and sports
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Nexo is far from the only crypto-facing firm that has focused on building visibility through sports partnerships in 2025.

A number of headline deals have brought the crypto sector deeper into the sports world this year, spanning football, Formula 1, and more.

Perhaps one of the biggest deals in this regard is stablecoin issuer Tether’s investment in Juventus, when the firm acquired a minority stake in the Italian football club back in February for approximately $50 million.

Similarly, Kraken, another crypto exchange, signed multiple high-profile sponsorship agreements with top European football clubs this year, including Tottenham Hotspur, Atletico Madrid, RB Leipzig, and others.

Bitcoin’s price structure signal has turned negative and the Bull‑Bear Index shows fading spot demand and rising derivatives pressure, putting BTC in a risk‑off, bear‑leaning regime until signals recover.​

Summary

Adler AM’s Structure Shift composite has dropped to −0.5 on a −1 to +1 scale, signaling a bearish regime as Bitcoin price trades at the lower band of its 21‑day Donchian Channel.​
The Bull‑Bear Index shows the bullish regime component near 5% while the fast bearish component turns negative, implying short‑term derivatives positioning now dominates weak spot bids.​
A regime flip back to risk‑on would require the composite to climb above zero alongside a recovery in the bullish component above 5%, otherwise a break of support could accelerate a deeper correction.

Bitcoin price is trading around $86–87,000 today, down roughly 3–4% over the last 24 hours with 24 hour volume in the mid‑$30 to 40 billion range, pointing to a weak, sell‑the‑bounce tape rather than aggressive dip‑buying.

Intraday, BTC is sitting closer to the lower half of its recent 24h range, with derivatives data showing negative short‑term performance and a red 24h return on major dashboards, which fits a risk‑off session inside an already soft regime. 

Bitcoin price heading in negative territory
The composite structure signal has moved into negative territory while fast components of the Bull-Bear Index demonstrate increased pressure from derivatives markets, the analysis stated.

The Structure Shift composite indicator, which measures market structure on a scale from -1 to +1, has declined to the -0.5 level, according to the report. Values below zero indicate bearish regime dominance. Bitcoin’s price has dropped to the lower boundary of the 21-day Donchian Channel and trades near channel support, the data showed.

The Bull-Bear Index, which separates market pressure into bullish and bearish components, shows the bullish regime component has fallen to 5 percent while the fast bearish component has moved into negative territory, according to the analysis. The fast components reflect short-term derivatives dynamics.

The index configuration indicates short-term momentum favors bearish positioning and spot demand remains insufficient to offset pressure from the futures market, the report stated.

Both indicators point to a structural shift into bearish territory, confirmed by the composite signal and Bull-Bear regime dynamics, according to Adler AM. The analysis noted that negative signal values indicate the combination of structural factors including trend, momentum and positioning has shifted in favor of bears.

The key reference point for a regime change would be a return of the composite signal above zero with simultaneous recovery of the Bull-Bear bullish component above the 5 percent level, the report stated. Until such recovery occurs, the structure remains in risk-off mode, according to the analysis.

The main risk cited in the report is intensified derivatives pressure on a break of support, which could accelerate a correction. From a pure token‑structure standpoint, this is not clean “buy territory”; it is distribution‑to‑range territory where rallies toward prior resistance look more like places to trim risk than to add, unless the data flips. Funding and futures performance are leaning risk‑off on a 24h basis, BTC trades about 25–30% under its euro‑denominated peak from October, and 2025 returns are modestly negative after a 120%+ prior year, all consistent with a maturing, over‑owned asset that is working off excess rather than starting a new impulsive leg.

This loss of confidence could push prices well below $50,000. At the same time, recent price action suggests institutional demand may be softening, with Bitcoin’s rebound from $85,000 doing little to offset concerns raised by a sharp rise in spot ETF outflows. While some analysts see the pullback as a macro-driven pause rather than a trend reversal, the combination of unresolved quantum security questions and cautious institutional positioning is weighing on sentiment and clouding Bitcoin’s near-term outlook.

Bitcoin Faces Major Quantum RiskCharles Edwards, founder of quantitative Bitcoin and digital asset fund Capriole, reignited debate around quantum computing and its potential impact on Bitcoin after warning that the cryptocurrency could fall well below $50,000 if it is not made quantum-resistant by 2028. Edwards argues that while the threat of quantum computing has long been treated as a distant or theoretical risk, the timeline may be far shorter than many in the crypto industry expect, and there could be serious market consequences if action is delayed.

Quantum computing is widely seen as a future inflection point for cryptography and digital security. In theory, sufficiently powerful quantum machines could break the encryption schemes that protect private keys, which could potentially expose user funds and sensitive data. 

While many critics believe such machines are still decades away from being practical, Edwards believes the crypto industry is underestimating both the pace of development and the market’s sensitivity to perceived security risks. In a post on X, he suggested that only a major market downturn might force the Bitcoin community to take the issue seriously enough to implement the necessary upgrades.

Edwards warned that if Bitcoin has not deployed a viable quantum-resistant solution by 2028, the loss of confidence could trigger a prolonged and severe bear market. He said he expects Bitcoin to trade below $50,000 in that scenario and continue falling until a fix is implemented. 

According to Edwards, the network needs to begin rolling out quantum-resistant patches as early as 2026 to avoid a crisis. He framed the issue as less about an immediate hack and more about trust. A key part of Edwards’ argument is that Bitcoin could be an early target for quantum attacks precisely because it cannot reverse transactions. 

(Source: Charles Edwards)

Unlike banks and traditional financial institutions, which are already migrating to post-quantum encryption and can block or roll back fraudulent activity, Bitcoin transactions are immutable. This, he argues, makes the network uniquely vulnerable from a confidence standpoint, even if the actual technical threat is still emerging.

Other people in the industry have different perspectives. Bitcoin analyst Willy Woo suggested recently that users could mitigate risk in the interim by holding Bitcoin in SegWit wallets, which may reduce exposure for several years until a solution is deployed. On the opposite end of the spectrum, Bitcoin advocate Michael Saylor dismissed quantum computing fears altogether by describing them as a marketing narrative used to promote quantum-related tokens rather than a genuine near-term threat to Bitcoin.

While consensus on timelines is still elusive, Edwards’ warnings shed some light on a broader concern: even the perception that Bitcoin is unprepared for future technological risks could have profound implications for its price and long-term credibility.

Bitcoin Bounce Fails to Ease ConcernsIt seems like investors are already skittish when it comes to putting money into Bitcoin. The crypto king rebounded 3% on Tuesday after briefly selling off to the $85,000 level a day earlier, but signs of weakening institutional demand are raising doubts about the cryptocurrency’s ability to reclaim the $100,000 mark before the end of the year. 

BTC’s price action over the past week (Source: CoinMarketCap)

The recovery comes during a rise in outflows from spot Bitcoin exchange-traded funds (ETFs). This could suggest that large investors may be turning more cautious after the recent market volatility.

Data from Farside Investors show that spot Bitcoin ETFs recorded $358 million in net outflows on Monday, which was the largest single-day withdrawal in more than three weeks. The timing of the move fueled speculation that institutional investors are trimming exposure after Bitcoin slipped below the psychologically important $90,000 level. ETF flows have been a key driver of Bitcoin’s upside this year, so sustained outflows are often interpreted as a softening in broader institutional conviction.

Bitcoin ETF flows (Source: Farside Investors)

Bitcoin is also still about 30% below its all-time high of $126,219. The scale of the decline caused some  analysts to question whether the bullish phase that carried prices higher through October may be losing momentum. 

However, not all analysts see the recent move as a structural shift in market direction. According to analysis shared by X user forcethehabit, Bitcoin’s pullback does not necessarily signal a trend reversal but rather reflects macroeconomic conditions. The commentary points to delayed interest rate cuts and the US Federal Reserve’s decision to keep reducing its balance sheet for longer than many investors had anticipated, both of which have weighed on risk assets more broadly.

The analysis also points out that much of the institutional capital that flowed into Bitcoin this cycle did so via spot ETFs and corporate treasury allocations, rather than through speculative rotation into smaller, higher-risk crypto assets. That rotation, which is often associated with the later stages of a bull market, has yet to materialize. As a result, the current environment may just be cautious positioning rather than an outright exit from the asset class.

Journalist

Posted: December 17, 2025

Even as Ethereum’s price hesitates around the $3,000 price level, the institutional engine behind the iShares Ethereum Trust (ETHA) is running at full speed.

On the 16th of December, on-chain data flagged a massive $140 million transfer as BlackRock deposited 47,463 ETH into Coinbase Prime.

Far from a simple “sell-off” signal, this move reflects the complex rebalancing needed to manage the leading spot Ethereum [ETH] ETF during heavy market liquidations.

What does this move tell us about BlackRock?
While retail traders hesitate, BlackRock’s major rebalancing shows strong institutional confidence, as ETF issuers must keep adjusting ETH holdings to match inflows.

This strategy helps stabilize the fund during volatility and reinforces Ethereum’s growing acceptance in traditional finance.

Though BlackRock remains the institutional “gold standard,” it is no longer the undisputed heavyweight in the Ethereum treasury race.

As of mid-December, BlackRock’s ETHA fund holds approximately 3.7 million ETH (approx. $11 billion).

However, this massive stash has officially been eclipsed by BitMine Immersion (BMNR).

Under the leadership of Tom Lee, BitMine has aggressively expanded its treasury to nearly 4 million ETH, signaling a “MicroStrategy-style” accumulation play that prioritizes protocol-level dominance over simple ETF fee collection.

Decoding the December liquidity drain
The timing of BlackRock’s 47,463 ETH deposit follows a turbulent period for US-based Ethereum ETFs. 

On the 16th of December, Farside Investors’ data revealed a staggering net outflow of $221.3 million from BlackRock’s ETHA.

This single-day redemption accounted for nearly 99% of the total $224.2 million pulled from all US Ethereum ETFs combined.

All in all, this suggests that while the “institutional machinery” is moving funds on-chain, it is largely to facilitate heavy redemptions from investors who are rotating capital or de-risking amidst a lackluster Q4 performance for the asset.

Ethereum’s resistance at $3,000
That being said, this institutional reshuffling occurred against a backdrop of technical fragility.

At the time of reporting, Ethereum was trading at $2,935.44. 

Despite a microscopic 0.77% gain in a 24-hour window, the broader trend remains bearish with ETH plummeting by 11.58% over the past seven days, according to CoinMarketCap

Hence, for BlackRock, the challenge is now two-fold: managing the logistics of massive ETF outflows while simultaneously defending a price floor that retail traders seem increasingly unwilling to support.

BlackRock’s another recent ETH acquisition
This coincided with BlackRock’s recent $28.78 million acquisition of Ethereum, which the broader market has largely misread as mere price speculation.

In reality, this move signalled BlackRock’s formal validation of Ethereum not as a “digital gold” alternative to Bitcoin, but as the essential financial infrastructure of the future.

By securing this bundle of ETH, the world’s largest asset manager is effectively stockpiling the “fuel” necessary to run its BUIDL fund, which operates exclusively on the Ethereum blockchain.

Ultimately, this acquisition shows BlackRock is no longer just participating in crypto, but actively building on Ethereum as mission-critical infrastructure for future global finance.

Final Thoughts

Institutional activity and not retail sentiment are steering Ethereum’s market, with BlackRock’s rapid moves reflecting ETF mechanics.
The $221 million ETF outflow highlights a liquidity crunch, but BlackRock’s rapid repositioning shows institutions are adapting, not exiting.

Lightning Network capacity hit a new ATH of 5,606 BTC worth ~$500 million as exchanges increase crypto adoption, with Amboss reporting a peak of 5,637 BTC. Lightning channel and node counts remained below 2022 highs despite the surge in capacity and a new Taproot Assets update to enable multi-asset transactions.

Lightning Labs claims that the Taproot Assets upgrade to v0.7 added reusable addresses and an auditable supply feature for multi-asset transfers over the Lightning Network. Data from Bitcoin Visuals shows that the new Lightning Network capacity reached on Monday surpassed the previous record set in March 2023. 

Meanwhile, Amboss separately valued the network’s capacity at roughly $490 million. The Lightning Network capacity’s surge follows a sharp rise in November and December after a year of declines, as payment channels received more Bitcoin.

Amboss also said the capacity increase suggests broader participation rather than a single large contributor. 

Channels and nodes remain below 2022 peaks
According to Lightning Labs, node and channel counts have remained well below previous highs despite the capacity increase. Lightning nodes stand at 14,940, a significant drop from the peak of 20,700 back in March 2022. The channels were at 48,678, which is also below the 2022 peak. 

Amboss also noted that large exchanges, including OKX and Binance, deposited a larger amount of BTC into Lightning this month.

On the other hand, Lightning Labs stated that the release of Taproot Assets v0.7, a multi-asset Lightning protocol, laid the foundation for trillions of dollars to flow into Bitcoin via Lightning. The protocol is also designed to allow assets such as stablecoins to be minted on Bitcoin and sent over Lightning. 

Meanwhile, stablecoin issuer Tether announced on December 16 that it had led an $8 million funding round in Bitcoin startup Speed to enable Lightning Network stablecoin payments. MetaMask also added Bitcoin support this week, although it clarified that its transactions would use the Native SegWit derivation path, not the Lightning Network. 

On the other hand, Amboss says each Lightning node has a unique view of the network based on the gossip information it receives. The sources of data maintain separate policies of what constitutes network capacity based on its activity or status, among other considerations.  

Taproot Assets enables stablecoins to leverage Bitcoin’s security
Taproot Assets reportedly enables stablecoins to leverage Bitcoin’s security, while achieving near-instant, low-fee transfers through the Lightning Network. The new auditable supply feature upgrade ensures transparency without requiring trust, according to Lightning Labs.

Lightning Labs CEO Elizabeth Stark said the integration combines the security of Bitcoin with the speed and scalability of the Lightning Network. 

Meanwhile, developers are also addressing issues affecting channel health and payment reliability at a structural level. Research on replacement cycling vulnerabilities and jamming attacks continues through the Bitcoin Optech working groups. Features like liquidity automation tooling and BOLT12 Offers are making Lightning stronger for commercial usage. 

Application layers using the Lightning protocol are also on the rise, with the L402 specification now deployed in early AI agent stacks, such as LangChainBitcoin. The L402 specification enables pay-per-request APIs using Lightning-native authentication and micropayments. 

The design reportedly enables automated agents to pay per API response or inference call without requiring static keys or fiat accounts. However, the shifts in protocols and use cases provide context for why public capacity alone cannot be a reliable indicator of the Lightning Network’s adoption trajectory. Meanwhile, developers argue that Lightning’s evolution is more about increasing the utility of each Satoshi already in supply and less about growing visible liquidity.

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Sentiment has flipped to extreme fear as the Bitcoin crypto market grinds lower from recent highs, with capital rotating defensively into BTC while broader risk appetite fades.

Summary

Daily Timeframe (D1): Main Bias – BearishTrend structure: EMAsMomentum: RSIMomentum breadth: MACDVolatility & range: Bollinger Bands and ATRDaily pivots: near-term mapHourly (H1): Short-Term Flow – Bearish Bitcoin, But crypto market is not CollapsingTrend structure: EMAsMomentum: RSI & MACDVolatility & bands: H1 Bollinger and ATRHourly pivot levels15-Minute (M15): Execution Context – Micro-Downtrend, Sellers SlowingShort-term trend: EMAsShort-term momentum: RSI & MACD15m bands, ATR and pivotsMacro crypto market: Bitcoin Still Dominates, But It Is A Defensive DominanceBullish Scenario For Bitcoin crypto marketWhat bulls need to seeWhat invalidates the bullish caseBearish Scenario For Bitcoin crypto marketWhat bears want to seeWhat invalidates the bearish caseWhere This Leaves Traders And Investors
Daily Timeframe (D1): Main Bias – Bearish
The daily chart clearly sets a bearish macro bias for Bitcoin crypto market.

Trend structure: EMAs
Daily EMAs:

Close: $86,455

EMA 20: $90,027

EMA 50: $94,830

EMA 200: $103,247

Price is trading below the 20, 50 and 200-day EMAs, with the shorter EMAs stacked under the longer one and the system explicitly tagging the regime as bearish.

That is a clean downtrend structure: every meaningful moving average is now overhead resistance, not support. In plain terms, the market is selling strength rather than buying dips.

Momentum: RSI
Daily RSI (14): 38.57

RSI is below 50 but not yet deeply oversold. Sellers control the tape, but we are not at true panic or capitulation levels on the daily. This is typical of a steady downtrend where rallies get sold before RSI can ever reset into bullish territory. There is room for a final stab lower before classical oversold bounce conditions kick in.

Momentum breadth: MACD
Daily MACD:

Line: -1779.31

Signal: -1734.75

Histogram: -44.56

MACD is negative and the line sits just under the signal line with a small negative histogram. Downside momentum is dominant but not accelerating aggressively. Think of it as a mature downtrend: bears are in charge, but the heavy selling phase is cooling. That opens the door to choppy consolidation or a corrective bounce, without yet signaling a full trend reversal.

Volatility & range: Bollinger Bands and ATR
Daily Bollinger Bands:

Mid (20SMA proxy): $90,068

Upper band: $94,202

Lower band: $85,934

Close: $86,456

Price is hugging the lower band, just above ~$85.9K. That tells you we are trading in the lower tail of recent volatility, consistent with a trending move down, not a sideways chop. Markets that live on the lower band usually stay weak until they can at least reclaim the mid-band; here that mid-band near $90K is a first line of resistance. Any daily close that decisively rips back above the mid-band would be an early sign that the selling pressure is finally relaxing.

Daily ATR (14): $3,201

An ATR above $3K at these price levels is moderate-to-high daily volatility. You should expect 3–4K intraday swings as normal noise. That means both stop placement and position sizing need to assume wider ranges; tight stops will get chopped out easily, especially if we move from trend to noisy mean reversion around key levels.

Daily pivots: near-term map
Daily Pivot Levels:

PP: $86,872

R1: $87,534

S1: $85,793

Spot is trading a touch below the daily pivot at ~$86.9K, already leaning toward the support side of the intraday map. S1 at ~$85.8K is the first line where short-term traders are likely to defend or cover. Holding above S1 keeps this as controlled pressure; a clean break and daily close below S1 would confirm fresh downside extension inside the broader bearish regime.

Hourly (H1): Short-Term Flow – Bearish Bitcoin, But crypto market is not Collapsing
The hourly chart backs up the bearish daily bias rather than contradicting it.

Trend structure: EMAs
H1 EMAs:

Close: $86,451

EMA 20: $87,042

EMA 50: $87,417

EMA 200: $89,246

Regime: bearish

On H1, price sits under all key EMAs, which are stacked bearishly. That tells you intraday rallies into $87–89K are supply zones where short-term players have been selling. There is no hourly trend break yet; any bounce is, for now, a counter-trend move inside a larger downtrend.

Momentum: RSI & MACD
H1 RSI (14): 40.89

Hourly RSI is weak but not washed out. This is classic controlled selloff: bears are pushing price lower in steps, but they are not chasing it hard enough to create immediate snap-back risk. It leaves space for one or two more pushes down before dip-buyers get aggressive.

H1 MACD:

Line: -150.02

Signal: -35.15

Histogram: -114.87

MACD is clearly negative and widening away from the signal. Downside momentum on the hourly is currently building, not fading. Short-term, that favours continuation of the move toward or even below the lower Bollinger Band unless we see a sudden reversal in tape.

Volatility & bands: H1 Bollinger and ATR
H1 Bollinger Bands:

Mid: $87,309

Upper: $88,260

Lower: $86,359

Close: $86,451

Price is riding near the lower hourly band. That confirms the intraday move is trend-like, not a random spike.

Bears are pressing the downside, and bulls have not been able to drag price back toward the mid-line around $87.3K yet. A strong bounce back to the mid-band on H1 would be your first sign that sellers are losing their grip intraday.

H1 ATR (14): $452

About $450 of expected hourly range means the market still has room to explore both sides of the band without breaking the broader daily trend. Short-term scalpers can work narrow ranges, but swing traders should ignore the noise inside this envelope and keep their eye on the daily structure.

Hourly pivot levels
H1 Pivot Levels:

PP: $86,437

R1: $86,524

S1: $86,364

Price is essentially pinned around the hourly pivot point. This is a short-term equilibrium area where the market is deciding whether to push for another leg down to test $86K and the daily S1, or to squeeze back toward $87K+.

Until we break cleanly above R1 or under S1 on H1 with momentum, intraday traders are mostly playing the micro-range.

15-Minute (M15): Execution Context – Micro-Downtrend, Sellers Slowing
The 15-minute chart is purely for timing and trade location; it does not override the daily bearish bias.

Short-term trend: EMAs
M15 EMAs:

Close: $86,467

EMA 20: $86,779

EMA 50: $87,027

EMA 200: $87,422

Regime: bearish

All intraday EMAs are above price with a clean bearish stack. Every small bounce on M15 into the $86.8–87.0K zone is being sold. This reinforces the idea that, on execution level, you are trading with a micro-downtrend, not against it.

Short-term momentum: RSI & MACD
M15 RSI (14): 37.56

RSI is weak but not collapsed. Bears are in control on the micro timeframe, but this is also where you usually start to see short-covering and fade setups for very short-term traders if price spikes into lows too quickly.

M15 MACD:

Line: -185.87

Signal: -172.91

Histogram: -12.96

MACD is negative but the histogram is only slightly below zero. That shows downside momentum on this tiny timeframe is losing some punch. Sellers are still in charge, but they are not pressing as hard as on the hourly. That often precedes either a small consolidation box or a short-term relief bounce.

15m bands, ATR and pivots
M15 Bollinger Bands:

Mid: $86,714

Upper: $87,118

Lower: $86,311

Close: $86,467

Price is trading in the lower half of the band structure but not pinned to the extreme. That is a controlled drift lower rather than a capitulative spike.

For intraday entries, better risk-reward usually appears either on tags of the lower band for fade attempts or mean reversion toward the mid-band for short reloads, assuming the daily trend remains down.

M15 ATR (14): $233

Roughly $200–250 of expected 15-minute range gives enough room for tactical entries and exits without confusing noise for trend.

M15 Pivot Levels:

PP: $86,442

R1: $86,535

S1: $86,375

Spot is sitting right on the 15-minute pivot, echoing the H1 picture: the market is pausing at a local equilibrium before choosing the next immediate $300–500 move. Very short-term players will watch R1 and S1 breaks here for scalp direction, but these are tiny levels compared with the daily structure around $85–90K.

Macro crypto market: Bitcoin Still Dominates, But It Is A Defensive Dominance
Bitcoin dominance is sitting near 56.9% with total crypto market cap around $3.03T, up slightly (~0.18% in 24h). So despite the grind lower in BTC price, capital has not fled crypto wholesale. Instead, it has rotated toward Bitcoin and away from smaller, riskier alts.

At the same time, DeFi DEX fee metrics show significantly lower fee volumes over the last month on major venues like Uniswap V3 and Fluid DEX, pointing to depressed on-chain trading activity. That fits with the sentiment reading: the market is in extreme fear, spot and DeFi flows are subdued, and whatever is happening is driven more by structured products, hedging and systematic flows than by outright speculative mania.

In short, this is a risk-off Bitcoin market. BTC is the relative safe haven inside crypto, but that has not stopped the USD price from trending down.

Bullish Scenario For Bitcoin crypto market
For the bulls, the path higher is possible but requires a meaningful shift in structure, not just a small bounce.

What bulls need to see
1. Hold or reclaim the $85–86K zone

Daily S1 at ~$85.8K and the lower Bollinger Band around ~$85.9K form the first important defence. If buyers can consistently defend dips into this zone and print higher lows on H1 and M15, the market starts to signal seller exhaustion rather than continuation.

2. Daily close back above the pivot and mid-BB (~$87–90K)

A strong daily candle closing above the daily pivot (~$86.9K) and, more importantly, above the mid Bollinger band and 20-day EMA around $90K would be the first structural improvement. That would flip the 20-day from dynamic resistance into a potential support candidate.

3. Momentum stabilization

Daily RSI pushing back above 45–50 and MACD histogram flattening toward zero would show that downside momentum is fading. On the intraday side, hourly RSI regaining the 50 area and H1 MACD crossing back above its signal would back this up.

If these conditions align, a realistic bullish extension would target:

First, the $90–94K band, from the daily mid-BB to upper-BB and the pocket around the 20 and 50-day EMAs
Then, if momentum is strong enough, a test of the 200-day EMA near $103K as the major line in the sand for any attempt at a full macro trend repair

What invalidates the bullish case
The bullish scenario loses credibility if BTC prints a clean daily close well below the lower Bollinger Band and S1, essentially a decisive break under ~$85K with expanding daily ATR and renewed MACD downside. That would indicate the downtrend has moved into a fresh acceleration phase rather than stabilizing, pushing any sustainable reversal further out in time.

Bearish Scenario For Bitcoin crypto market
The bears currently own the trend of Bitcoin, and the crypto market structure favours them until proven otherwise.

What bears want to see
1. Persistent trading below key EMAs

As long as price remains under the daily 20EMA (~$90K) and cannot close above the daily mid-Bollinger band, every bounce is technically a rally into resistance. For bears, the ideal is a series of lower highs in the $87–90K region visible on the H1 chart.

2. Break and hold below $85.8K–$85K

A decisive daily close under the daily S1 and lower band would signal that the current controlled downtrend is breaking into a stronger leg lower. With daily RSI still not deeply oversold, there is room for such an extension.

3. Momentum follow-through

Hourly MACD staying negative and widening, plus RSI stuck sub-40 on H1, would confirm that every attempt to bounce is being sold. On the daily chart, a further drop in MACD and RSI drifting toward or below 30 would point to a stronger trend leg, not just noise.

Under this bearish continuation, downside reference zones become more about structure from prior price history, not shown in the FACTS, and volatility bands. With daily ATR at ~$3.2K, a typical next-leg extension could reasonably push into ranges several ATRs below current price over time. Practically, that means traders should mentally price in the risk of seeing mid-to-low $80Ks or below without treating it as an outlier event.

What invalidates the bearish case
The bear thesis starts to crack if BTCUSDT can:

Reclaim and close above the daily 20EMA and mid-BB (~$90K) with conviction, and
Build a series of higher lows on H1 above the $86–87K band

From there, a bearish regime flip would be confirmed only if we also see price challenge the 50-day EMA (~$94.8K) and daily RSI reclaiming the 50–55 zone. At that point, shorts are no longer trading with the trend; they are fighting a potential medium-term reversal.

Where This Leaves Traders And Investors
For now, Bitcoin is in a textbook downtrend: price below all key EMAs, daily and hourly regimes both bearish, and price leaning on the lower Bollinger Bands. Volatility is elevated but not extreme, while sentiment has already washed into extreme fear.

That combination often leads to two competing forces: systematic and trend-following strategies still selling rips, versus discretionary traders and longer-term investors starting to look for value as fear peaks. The tension between those two groups is exactly what creates sharp squeezes inside broader downtrends.

In practical terms, this means:

Chasing moves in either direction is dangerous; ranges are wide, and mean reversion can be brutal.
Trend-followers will naturally lean short or underweight while price remains under the 20, 50 and 200-day EMAs and RSI is sub-50.
Dip-buyers who are structurally bullish on Bitcoin will be looking for confirmation, not just cheap prices, such as daily closes back above the mid-Bollinger band and signs of momentum turning.

Regardless of your stance, risk management has to respect the current ATR environment: daily swings of several thousand dollars are normal here. Position sizes, leverage and stop distances should be adapted to that reality. The market does not owe anyone a smooth trend; it can stay in this controlled, grinding downtrend longer than overleveraged traders can stay solvent.

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Disclaimer: This article is a market analysis and reflects one interpretation of the current Bitcoin crypto market structure based on the provided data. It is not investment, trading or financial advice. Markets are volatile and unpredictable; always conduct your own research and consider your risk tolerance before making any trading decisions.

Repeated distribution waves from long-term holders highlight how this bitcoin cycle is breaking from historical norms. Updated Dec 17, 2025, 11:18 a.m. Published Dec 17, 2025, 11:12 a.m.

Bitcoin BTC$87,018.43 long term holder (LTH), supply has fallen to an eight month low of 14,342,207 BTC, a level last seen in May, which has coincided with bitcoin falling almost 40% from its October all-time high.

Glassnode defines a long term holder as an entity that has held bitcoin for at least 155 days, placing the current cohort cutoff around mid July, so any buyer then and has held would be classified as a LTH.

STORY CONTINUES BELOW

This decline marks the third distinct wave of LTH distribution in the current cycle since early 2023.

The first wave occurred from late 2023 into early 2024 following the launch of U.S. spot bitcoin ETFs, when LTH's sold into strength as bitcoin rallied from roughly $25,000 to a peak near $73,000 by March 2024.

The second wave emerged later in the year when bitcoin ran towards $100,000, driven by optimism surrounding President Trump’s election victory. The market is now experiencing a third iteration of LTH selling as bitcoin remained above $100,000 for much of the year.

Why This Cycle is Different? This behavior stands in contrast to prior bull markets in 2013, 2017, and 2021, where LTH supply typically followed a single boom and bust pattern, bottoming near euphoric cycle peaks before gradually recovering.

Instead, this cycle has seen repeated waves of distribution without a clear blow off top, a dynamic highlighted by Alec, co-founder of Checkonchain, who noted that bitcoin LTH spending this cycle is unlike anything seen in recent history, with the market absorbing a third sell wave remarkably well.

LTH distribution remains one of the largest sources of sell side pressure in bitcoin and has been a key contributor to the nearly 40% correction from October's all-time high.

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As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.View Full Report

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Crypto Markets Today: Bitcoin drifts lower as bearish trend persists

9 minutes ago

Bitcoin slipped overnight, dragging the broader crypto market lower as traders remained cautious with few external cues to provide direction.

What to know:

BTC dropped 1.5% from its overnight high, with failure to reclaim $94,700 last week reinforcing a downtrend marked by lower highs since early October.The CoinDesk 20 has lost 1.6% since midnight UTC, while bitcoin dominance rose, underscoring continued underperformance across altcoins.The average crypto RSI sits at 38.49, suggesting the market is oversold and could be due a short-term relief rally despite the absence of clear year-end catalysts.Read full story

XRP ETF Breakthrough: Two New Spot ETFs Enter Launch QueueSignaling rising institutional confidence in XRP, on-chain data firm XRP Update confirms that CoinShares and WisdomTree have officially entered the spot XRP ETF launch queue, with S-1 filings submitted and now pending review by the U.S. Securities and Exchange Commission (SEC).

This milestone marks XRP’s evolution from a niche digital asset into one gaining acceptance within traditional finance. A spot XRP ETF would give investors direct, regulated exposure to XRP’s price without holding the token itself, mirroring the gateway role that spot Bitcoin and Ethereum ETFs have already established.

What Does “S-1 Pending” Mean?Filing an S-1 registration statement with the SEC signals an issuer’s formal intent to launch a new investment product, here, a spot XRP ETF, and initiates the regulator’s detailed review process. 

An effective S-1 is a critical requirement, outlining the fund’s structure, risk disclosures, custody framework, fees, and other legal specifics necessary for approval and eventual listing.

CoinShares and WisdomTree reaching this stage indicates they have moved beyond preliminary steps and are now significantly closer to a potential launch than many earlier applicants. 

Notably, WisdomTree, a $139 billion asset manager with a strong ETF pedigree, is reportedly preparing to list its spot XRP ETF under the ticker XRPW, reinforcing its growing commitment to the digital asset ETF market.

Institutional Momentum GrowsNotably, this development unfolds against a broader surge in institutional engagement with XRP. In recent months, multiple issuers like Bitwise have filed or updated ETF applications, reflecting growing confidence in an improving regulatory climate and the SEC’s increasing openness to spot crypto ETFs beyond Bitcoin and Ether.

Market participants see these filings as a pivotal step toward XRP’s integration into traditional finance. If the SEC grants effectiveness to the pending S-1s and subsequent listings proceed, investors could soon gain access to regulated, exchange-listed products that track XRP’s price directly, potentially unlocking new capital inflows and expanding participation across both institutional and retail markets.

What’s Next?Well, closely monitoring SEC feedback on the pending S-1 filings and any follow-up Form 19b-4 listing notices is fundamental because together they constitute the regulatory green light for an ETF launch. 

While approval timelines remain uncertain, the steady advancement of these filings sends a clear signal: XRP’s ETF era is no longer theoretical, it’s actively taking form.

ConclusionThe entry of CoinShares and WisdomTree into the XRP spot ETF launch queue marks a pivotal step in XRP’s integration into traditional finance. With S-1 filings now under SEC review, XRP is moving closer to regulated, exchange-traded exposure that could meaningfully expand its investor base. 

As the review process unfolds, these filings underscore a broader shift: XRP is evolving from a primarily speculative asset into an increasingly institution-ready market, with potentially lasting implications for liquidity, adoption, and long-term positioning.

BTC is entering a period of shifting ownership, where large-scale holders are either supporting or shedding the coin. Miners and whales offer long-term holding, while ETFs are now the origin of selling pressure. 

BTC is going through another shift in large-scale holder balances. Some categories of wallets emerge as dedicated holders with long-term confidence, while others are turning into net sellers. 

BTC traded at $86.401.82, trading in a climate of extreme fear. The recent market downturn has broken below several support levels. At the current price range, BTC is just above the $84,000 cost basis of ETF buyers, which may lead to further selling from mainstream investors. 

At the same time, a new cohort of accumulation wallets is building up BTC reserves. Miners have also retained their reserves at relatively unchanged levels. BTC is still stored as a long-term reserve, and whales are buying at a lower range after realizing profits near peak valuations. 

Institutions sell, BTC natives hold
BTC is still in correction territory, down nearly 7% in the past week. These market conditions caused diverse flows. Strategy once again bought more than 10,000 BTC. Michael Saylor’s company acquired 640 BTC on average each day in 2025 to date, though the metric is down from 785 BTC daily in August. 

Under these conditions, analysts are turning to miner and whale retention, seeking signs of long-term confidence. 

BTC miner reserves remain relatively unchanged at 1.89M tokens. Miners keep producing blocks even during distress conditions, with limited selling on Binance. Most miners can afford to hold due to their extremely low cost basis from previous cycles. 

BTC addresses with over 1,000 coins remain relatively stable, with only around 60 wallets divesting in the past quarter. Another 3,000 wallets with over 100 BTC were created in the past quarter, showing renewed accumulation by sharks.

Despite the recent selling, there is demand to absorb BTC almost immediately, due to the growing scarcity. 

Why did the BTC rally stall? 
The 2025 cycle had much more favorable conditions for BTC. Yet the leading coin entered another long-term drawdown, with 72 days of losses since the most recent all-time high.  

Long-term BTC analyst PlanB returned with an opinion on the current price weakness. The analyst, known for the stock-to-flow model, believes current sellers are trying to front-run another bear market similar to the 2021-2022 crash. 

Why is bitcoin not pumping?

Because 50% is selling (OGs traumatized by 2021, technical investors looking at RSI, 4y cycle fans expecting a bear 2y post halving) while the other 50% is buying (fundamental investors, tradfi, banks).

Epic battle … until sellers are out of ammo. pic.twitter.com/er7upg25RV

— PlanB (@100trillionUSD) December 16, 2025

The current BTC market still relies on less visible accumulation and spot holders, confident in more price records in the coming years. Yet BTC is still looking for a local bottom, while traders estimate whether the previous four-year cycles are still valid. 

Based on the market value to realized value (MVRV) ratio, BTC is currently trading in similar conditions to the 2023 bear market. Short-term bearish predictions see BTC slide to $70,000 or even $40,000 before eventually returning with another bull market.

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How China’s strengthening yuan could support bitcoin pricesThe yuan has rise to its highest in over two months against the dollar. Updated Dec 17, 2025, 11:24 a.m. Published Dec 17, 2025, 11:24 a.m.

Bitcoin's BTC$87,018.43 price often dances to the tune of global money flows, and right now, a strengthening Chinese yuan (CNY) could be setting the stage for a more bullish backdrop for the cryptocurrency, according to one observer.

The yuan traded at 7.043 per U.S. dollar early Wednesday, its strongest level since Oct. 8. It has strengthened about 1% this quarter and 4% from April’s low of 7.3504 per dollar.

STORY CONTINUES BELOW

Historically, the yuan hasn't had much direct pull on BTC prices. Rumors have swirled for years that a weaker yuan pushes Chinese capital into crypto (and vice versa), but there's zero solid proof.

However, swings in the yuan’s value can still affect bitcoin via macroeconomic channels and foreign-exchange markets, according to newsletter service LondonCryptoClub, whose founder said the ongoing strengthening of CNY could bode well for bitcoin's price.

"When the yuan is strengthening, it provides the cover for China to step up stimulus and easing to address the deflationary spiral they’re battling," the founders of the newsletter service told CoinDesk.

A strengthening currency makes imports cheaper, thereby putting downward pressure on domestic inflation. This, in turn, creates room for policymakers to provide economic stimulus.

Coincidentally, calls for Chinese stimulus have increased alongside a stronger yuan, following a string of dismal retail sales and corporate investment data released early this week.

This stimulus could compensate for the expected increase in borrowing costs in Japan and Australia and the prospects of slower rate cuts by the Fed, thereby supporting risk assets, including cryptocurrencies.

Now, coming to the foreign exchange part. A relentless rally in the yuan may prompt the People's Bank of China to intervene by buying dollars against the yuan.

These dollars don't just sit idle; they're recycled or sold against other currencies to maintain a stable currency mix in the reserve portfolio, which holds trillions in major currencies, including the dollar, euros, yen, and others.

This recycling operation ends up dragging the dollar index lower. And as it's well known, a weaker dollar tends to boost demand for dollar-denominated assets like bitcoin and contribute to looser financial conditions (cheaper cash).

"Smoothing operations to slow the strength means increasing the money supply as they effectively print CNY to buy dollars. Those dollars also get “recycled”, selling against other currencies to maintain stable FX weightings in their portfolio," founders said.

"This feeds broad dollar weakness. Added together, it all feeds into an easier liquidity environment which should be bullish for bitcoin," they added.

The coming weeks will show whether this backdrop can steady bitcoin’s slide and help the market find its footing again.

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.

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Bitcoin slipped overnight, dragging the broader crypto market lower as traders remained cautious with few external cues to provide direction.

What to know:

BTC dropped 1.5% from its overnight high, with failure to reclaim $94,700 last week reinforcing a downtrend marked by lower highs since early October.The CoinDesk 20 has lost 1.6% since midnight UTC, while bitcoin dominance rose, underscoring continued underperformance across altcoins.The average crypto RSI sits at 38.49, suggesting the market is oversold and could be due a short-term relief rally despite the absence of clear year-end catalysts.Read full story

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Michael Saylor tossed a compact bit of Bitcoin game theory onto X on Tuesday and it set off the predictable kind of fight: technical details colliding with ideology.

“The Bitcoin Quantum Leap: Quantum computing won’t break Bitcoin—it will harden it,” Saylor wrote, adding: “The network upgrades, active coins migrate, lost coins stay frozen. Security goes up. Supply comes down. Bitcoin grows stronger.”

Short version: if quantum ever becomes real enough to threaten today’s signature schemes, Bitcoin can upgrade. Coins that are actively managed move to new, quantum-resistant output types. Coins that aren’t—because the keys are lost, the owner is gone, or the UTXOs are simply abandoned—should effectively get stuck.

Frozen.

Bitcoin Developers And Community React
That’s the part people latched onto, because it’s not just a technical question. It’s a social one. Who gets to decide which coins are “lost” versus “just old”? Jameson Lopp, one of the loudest voices pushing for practical quantum-readiness, basically said: yes, and welcome aboard. “I agree, lost coins should stay frozen. Glad to hear you’ll support my BIP!”

Then the counterpunch arrived fast. “We have no right to freeze another man’s bitcoin,” wrote Wicked (@w_s_bitcoin), arguing any attempt to lock legacy coins could spark a contentious chain split. He also floated a more narrative-friendly twist: what if Satoshi left early keys exposed as a “bounty” for quantum computers?

Lopp’s answer wasn’t sentimental. It was node-level realism. “On the flip side, every node runner has the right to refuse to accept coins they believe are most likely to have been stolen by a quantum attacker,” he wrote, framing it less as confiscation and more as a defensive filter to preserve the integrity of circulating supply. Later, he conceded the uncomfortable core: “Correct, the best you can do is come up with an extremely lengthy migration window.”

That “migration window” is doing a lot of work here. The draft proposal described by Lopp and co-authors (Christian Papathanasiou, Ian Smith, Joe Ross, Steve Vaile, Pierre-Luc Dallaire-Demers) sketches a three-phase path: first a soft fork that nudges (or forces) new sends into proposed quantum-resistant outputs, then a later rule change that makes legacy ECDSA/Schnorr spends invalid after a long deadline, and an optional third phase to recover unmigrated coins if the rightful owner can prove control through some new mechanism.

It sounds orderly on paper. It never is in practice. Because you can’t prove theft in Bitcoin’s older UTXOs. Wicked hammered that point: there’s “no way to prove whether older coins were stolen or just forgotten and then moved later by the rightful owner.” The fear, in his view, is basically supply paranoia dressed up as security.

Lopp didn’t deny the incentives. He leaned into them. “I can assure you that many entities in the industry care about supply shocks causing the value of their coins to plummet; businesses still use dollars as their unit of account.” And then, in a line that reads like a homework assignment for anyone who thinks this ends cleanly: “Your homework is to figure out the power dynamics…”

Outside the Bitcoin-only trench fight, other corners of crypto mostly reacted with a raised eyebrow. Nic Carter, a founding partner at Castle Island Ventures, demanded specifics: “Explain in detail how all of those things will happen […] Which core devs has microstrategy funded to work on the multiple hard and soft forks that will be required for this plan? Which quantum researchers?”

BitMEX Research pushed back on the “hardfork” framing. “What makes you think we need a hardfork?” it asked, arguing the transition could be painful without literally being a hard fork. Another account summed up the mood: “You can freeze coins with a soft fork.”

Then again—soft fork or not—getting broad social consensus to lock unmoved coins is its own nightmare. “The idea that there would be social consensus over locking unmoved coins is crazy,” one user wrote. “In 1,000 realities that doesn’t happen once.”

And, quietly, a reminder from Willem Schroe (Botanix CEO): “Yes, there are quantum developments but nothing remotely close to a breakthrough. That said, our current cryptographic solutions are not even remotely close to ready or battletested so quantum resistance work is definitely worth it. Very small risk but would have a big impact.”

So overall, none of this is about quantum tomorrow. It’s about Bitcoin deciding what it is when faced with a threat that can’t be patched with vibes. The tech path is hard. The politics might be harder.

At press time, Bitcoin traded at $86,761.

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

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Bhutan is taking an unconventional yet carefully structured approach to national development by channeling a significant share of its Bitcoin reserves into a flagship infrastructure project. The Himalayan kingdom has confirmed plans to allocate 10,000 Bitcoin toward the development of Gelephu Mindfulness City (GMC), a special administrative region intended to redefine Bhutan’s long-term economic trajectory.

With estimated holdings of 11,286 BTC currently valued at more than $986 million, Bhutan stands as the world’s fifth-largest known sovereign Bitcoin holder. The majority of these holdings were accumulated through state-backed Bitcoin mining operations powered by renewable energy, aligning the strategy with the country’s sustainability goals.

Launched in 2024, Gelephu Mindfulness City is designed to serve as Bhutan’s next major economic growth hub. Situated in southern Bhutan near the Indian border, the city spans approximately 1,544 square miles, accounting for nearly 10% of the nation’s total land area.

The project directly targets Bhutan’s rising youth migration by creating high-value employment opportunities domestically. GMC is planned as a multi-sector zone, drawing investment in finance, tourism, green energy, healthcare, agriculture, and technology. A flexible regulatory framework is also being developed to attract crypto, fintech, and digital asset firms seeking regulatory clarity and innovation-friendly policies.

How Bhutan Plans to Deploy Its Bitcoin ReservesBhutanese authorities have emphasized that Bitcoin deployment will prioritize capital preservation rather than aggressive liquidation. Instead of selling large portions of its holdings, the government is exploring risk-managed treasury strategies, yield-generating mechanisms, and long-term custody models to support infrastructure funding while maintaining balance-sheet strength.

Officials have reiterated that Bitcoin’s role within the project is to generate compounded value over time. Governance safeguards, transparency standards, and institutional oversight are expected to guide all treasury decisions, ensuring that development financing does not compromise fiscal stability.

Bitcoin at the Center of Bhutan’s Economic StrategyGMC forms a core pillar of Bhutan’s broader National Bitcoin Development Pledge, which integrates digital assets, sovereign mining operations, and renewable energy into national economic planning. The city already supports crypto-based payments across tourism services and local merchants and has introduced TER, a sovereign-backed digital token linked to physical gold reserves.

Preparatory work is well underway. Bhutan has finalized the legal framework for the city, approved a master development plan, appointed a governing board, and installed a dedicated governor to oversee implementation.

A Long-Term Vision for Shared ProsperityKing Jigme Khesar Namgyel Wangchuck has positioned Gelephu Mindfulness City as a collective national endeavor rather than a top-down development project. He has compared the city’s structure to a corporate model in which landowners function as shareholders, ensuring that economic returns are distributed broadly across Bhutan’s population of approximately 796,000 people.

Planned as a 20-year development initiative, GMC is envisioned as an economic corridor linking South Asia and Southeast Asia. By combining sustainability, digital finance, and a sovereign Bitcoin strategy, Bhutan is aiming to carve out a distinctive role in the evolving global economic landscape.

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Iris Coleman
Dec 17, 2025 10:31

Glassnode, in collaboration with Swissblock and Willy Woo, introduces the Bitcoin Vector #34, offering in-depth market analysis on Bitcoin, Ethereum, and DeFi.

Glassnode has announced the release of the Bitcoin Vector #34, a comprehensive market analysis report developed in collaboration with Swissblock and renowned analyst Willy Woo. The report is designed to offer insights into the Bitcoin (BTC) market, as well as Ethereum and DeFi sectors, according to Glassnode.

Comprehensive Market Insights
The Bitcoin Vector #34 aims to provide subscribers with best-in-class market analysis, leveraging on-chain data to deliver novel insights. By collaborating with Swissblock and Willy Woo, Glassnode seeks to enhance the depth and accuracy of its market reports, making them invaluable resources for investors and analysts alike.

Subscription and Privacy
While the report is available for free subscription, Glassnode emphasizes the importance of understanding the terms and conditions associated with the subscription service. Subscribers are required to agree to Glassnode's Terms & Conditions and Privacy Notice, ensuring transparency and user data protection.

Related Developments in the Crypto Market
The launch of Bitcoin Vector #34 comes at a time when the crypto market is experiencing significant volatility. Recent fluctuations in Bitcoin's price have sparked renewed interest in comprehensive market reports that can provide clarity and guidance for traders and investors. Additionally, the growing interest in Ethereum and DeFi underscores the need for detailed analysis in these rapidly evolving sectors.

Glassnode's collaboration with Swissblock and Willy Woo highlights the increasing demand for sophisticated analytical tools in the cryptocurrency space, as investors seek to navigate the complexities of the digital asset market effectively.

Image source: Shutterstock

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Key NotesA whale transferred 3,000 BTC, worth about $260 million, to Binance.Bitcoin fell over 6% this week as prices hover over key levels.Capriole founder Charles Edwards warns Bitcoin could drop below $50,000.
Bitcoin

BTC
$86 690

24h volatility:
0.3%

Market cap:
$1.73 T

Vol. 24h:
$44.37 B

price continued trading below the key $90,000 level on Dec. 17 when a large Bitcoin transfer of 3,000 BTC from an unknown wallet to Binance was flagged by Whale Alert. The transaction is valued at roughly $260 million.

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 3,000 #BTC (260,387,071 USD) transferred from unknown wallet to #Binancehttps://t.co/bzJwJVGZUd

— Whale Alert (@whale_alert) December 17, 2025

Meanwhile, a different wallet transferred 1,000 BTC, worth $87.3 million. At the time of writing, Bitcoin is trading around $86,000, down by more than 6% over the past week, according to CoinMarketCap data.

Capriole Founder Issues Warning
Charles Edwards, the founder of the quantitative crypto fund Capriole, has raised alarms about Bitcoin’s preparedness for the rise of quantum computing. He believes that if Bitcoin does not become quantum-resistant within the next few years, the market could face severe consequences.

Quantum computing is widely viewed as a future threat to cryptography. In theory, sufficiently powerful quantum machines could break current encryption standards, expose private keys, and put user funds at risk.

Starting to think we will just need a huge bear market to wash out the idiots who think the Quantum threat to Bitcoin is a joke, and to incentive the maxis into taking action to upgrade the network. If We haven't deployed a fix by 2028, I expect Bitcoin will be sub $50K and…

— Charles Edwards (@caprioleio) December 17, 2025

This came soon after Grayscale also acknowledged that quantum computing poses a future risk to blockchain security. It explained that most public blockchains will have to adopt post-quantum cryptography.

However, the financial giant believes that it is unlikely to affect Bitcoin and top altcoins in 2026.

While many consider the quantum computing threat to be far off, Edwards argues that the timeline may be much shorter than most expect.

According to his forecast, 2028 would be a critical deadline. If Bitcoin’s network does not implement a quantum-resistant upgrade by then, he expects the price to fall well below $50,000 and continue declining until the issue is resolved.

He also suggests that fear around quantum risk could eventually be flushed out through a major bear market.

Edwards believes that action needs to happen even sooner. A quantum security patch should be rolled out by 2026 to avoid what he describes as the most severe Bitcoin bear market on record.

Bitcoin could be an early target for quantum attacks because traditional banks are already transitioning toward post-quantum encryption. Legacy systems can often reverse or block fraudulent transactions, explained Edwards.

A Very Important Technical Level
Onchain data from CryptoQuant shows that currently, the Bitcoin True Market Mean Price (TMMP), a key metric, is around $81,500.

When Bitcoin trades above the TMMP, investors tend to feel comfortable holding their positions, and pullbacks often attract buyers. When price drops below it, that same level frequently turns into resistance.

Similarly, the AVIV Ratio is reading levels from past mid-cycle transition phases, where the market neither collapsed nor trended strongly higher. Instead, price tends to move sideways, volatility declines, and investors quietly rebalance.

BTC TMMP | Source: CryptoQuant

If Bitcoin can stay above the TMMP while the AVIV Ratio stabilizes in the 0.8 to 0.9 range, it would suggest that investors are defending their cost basis and absorbing supply. That behavior typically supports longer-term trends.

BTC AVIV Ratio | Source: CryptoQuant

However, if Bitcoin loses the TMMP and AVIV doesn’t recover, a deeper search for demand could follow for the world’s largest digital asset.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Bitcoin trades near $86.7K after a 30% drop from its peak. Analysts warn of a move to $80K if BTC fails to break above $88K soon.

Bitcoin (BTC) has fallen nearly 30% from its October high of over $126,000 and is trading around $86,500 at press time. The asset is moving sideways after a sharp drop earlier in the month.

Despite small bounces, there’s no clear sign of a trend reversal yet. The focus now is on whether Bitcoin can break above $88,000. If not, the move toward lower levels may continue.

$88K Stands as the Line to Beat
Analyst Michaël van de Poppe noted that BTC is currently undecided, consolidating between support and resistance zones.

“Trend remains to be down, and in order to adjust the trend, a breakout above $88K is required,” he stated on X.

Bitcoin (BTC) Price Chart 17.12. Source: Michaël van de Poppe/X
This week, Bitcoin briefly touched $88,000 before falling back toward $87,500. The 7-day range between $85,100 and $93,000 reflects uncertain movement. With no clear breakout, the lower areas near $83,000 and $80,000 are starting to draw attention.

Kamran Asghar, another analyst, believes Bitcoin is searching for a new base after breaking below a long-standing support line. He marked $86,500 as a possible short-term floor, but warned that deeper levels may be tested. He pointed to a zone between $72,000 and $75,000 that hasn’t been touched since the 2024 breakout.

That area, often referred to by traders as a key demand zone, could offer support if the decline continues. If the current range breaks, Bitcoin may move toward that lower target range.

Long-Term Trend Break Raises Concern
Bitcoin has now lost the Supertrend support on the weekly chart for the first time since January 2023. According to a post by Bitcoinsensus, this marks the first major break of structure since the bull cycle began, adding weight to the bearish sentiment currently in play. Adding to this, long-term holders are starting to exit their positions.

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“Long-term holders are now selling $BTC at their fastest pace in 7 years,” said Ted.

This shift adds to the selling pressure and reduces the strength of any bounce attempts.

Moreover, the drop in Bitcoin’s price over recent days is being linked to liquidations across leverage-heavy positions.

“Bitcoin’s recent price drop was driven by liquidations — not spot selling,” reported Bitcoin Duniya.

The move reflects a flush of excess leverage rather than weakness in underlying demand. As CryptoPotato recently reported, current selling pressure is still stronger than demand. Until that changes, price recovery may be limited, and further downside cannot be ruled out.

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Dogecoin price traded at $0.1304 on Tuesday, up 1.39% in the last 24 hours. Whales accumulated 138 million DOGE during this period, signaling renewed investor interest. The price is currently aiming at breaking out of the resistance zone above the price of $0.15 as the price starts to gain momentum.

The wider crypto market rose 0.7% as well, rebounding after the recent losses despite macroeconomic fears. Bitcoin price is targeting a move over $90,000, and Ethereum is at a standoff at nearly $3,000.

Altcoins such as XRP, Solana, and BNB experienced slight rebounds. According to analysts, a high level of whale activity can lead to a continued increase in Dogecoin price in case of a positive signal on the market.

Dogecoin Whales Scoop Up 138 Million DOGE in 24 Hours
Dogecoin whales accumulated over 138 million DOGE tokens in a single day, signaling renewed bullish interest in the meme coin.

The big holders, according to the data provided by one of the crypto investors on X, amassed their positions in DOGE considerably over the past 24 hours. 

Such an increase in the actions of the whales is usually followed by an upward or downward price volatility. This development has also generated some hype regarding the possibility of Dogecoin price recovery. 

HUGE: 🔥 🐕 Dogecoin whales added over 138 million $DOGE to their positions in the last 24 hours. pic.twitter.com/ALmU6N6YGr

— CEO (@Investments_CEO) December 17, 2025

This aggressive buildup by large investors may reflect the optimism of future returns or future catalysts. Whale behavior is also a major market sentiment of Dogecoin.

Glassnode Dogecoin data indicates that there are changing market conditions with a decreasing portion of DOGE supply in the profit.

The seven-day moving average shows that there are still less profitable holders than there were at previous peaks. This pattern is common when Dogecoin passes through periods of consolidation or correction in the price cycle.

The historical patterns have been that of sharp declines in supply-in-profit level with market pullbacks. They are also likely to stabilize, and then a new upside momentum can be experienced.

Dogecoin Price Holds $0.13 Support While Recovery Attempts Stall
The DOGE price is trading near $0.130, reflecting continued downside pressure on the 4-hour timeframe. 

The price of Dogecoin is limited at less than the resistance level of less than $0.14, following multiple unsuccessful attempts at recovery.  Dogecoin Price structure reflects a less high structure, which validates a long-term bearish trend.

The MACD indicator remains below its signal line, which indicates minimal bullish follow-through. The bars on the histogram are not deep, indicating consolidation instead of a vigorous reversal. The RSI is also weakly trading at an average of 37 and is not in oversold conditions.

On the upside, immediate resistance for the Dogecoin price outlook is at $0.14.A breakout above this level could shift focus toward the $0.15 range.

Source: DOGE/USDT 4-hour chart: Tradingview
The major support is at $0.13 that has been tested many times. Once a clear breakdown happens, DOGE may lead to the entry point of the $0.12 support area.  When bearish momentum becomes fast, there is a possibility that $0.115 will serve as an extended downside target.

Frequently Asked Questions (FAQs)

Whales often accumulate during consolidation phases, signaling confidence in a potential price rebound.

Large accumulations often precede increased volatility and trend shifts.

42 minutes ago

Bitcoin buying power from institutions flipped the daily mined BTC supply for the first time since the start of November, new data showed.

Bitcoin (BTC) institutional demand is finally outpacing new supply as the market hits a key pivot point.

Key points:

Bitcoin institutional demand is now 13% higher than the amount of newly mined BTC on a rolling daily basis.

New data shows institution-fueled supply reduction returning for the first time since early November.

ETF outflows pass $600 million in just two days this week.

Institutions bounce back with BTC buysNew data from quantitative Bitcoin and digital asset fund Capriole Investments shows that institutions are buying more BTC than miners are adding.

Bitcoin is becoming a target for institutions again as price action seeks a bottom more than 30% below October’s all-time highs.

Capriole reveals that for the past three days, institutional buying has surpassed the newly mined supply.

This is the first time that corporate demand alone has had a net reduction on the BTC supply since the start of November. 

The figure remains modest compared to the peak of the bull market two months ago. Currently, institutions are buying 13% more than the daily mined supply.

Bitcoin institutional demand vs. mined supply. Source: Capriole Investments
As noted by Capriole founder Charles Edwards earlier this month, the intervening period between the $126,000 highs and recent lows of $80,500 has been marked by significant stress for market players, including businesses opting to create Bitcoin corporate treasuries.

In the last month there have been no new treasury companies, but there have been first time treasury company sells pic.twitter.com/swXVJ9PvzS

— Charles Edwards (@caprioleio) December 5, 2025
Attention has focused on Strategy, the company with the world’s largest such treasury, which has continued to add to its BTC holdings despite falling prices and stock performance.

Referencing its own AI-based analysis, Capriole’s Edwards this week highlighted a “broken corporate ‘flywheel,' evidenced by record discounts to NAV among treasury companies and rising leverage.”

Despite Bitcoin looking attractive when judged by network fundamentals, the pressure from corporate treasuries could be complicating the “path of least resistance” for price recovery, the analysis added.

Bitcoin ETF outflows meet “strategic accumulation”Summarizing the status quo Wednesday, onchain analytics platform CryptoQuant described a “market in transition, where short-term pessimism contrasts with strategic accumulation.”

Network fundamentals, it noted, support market entries, even as capital outflows from investment vehicles such as the US spot Bitcoin exchange-traded funds (ETFs).

“This divergence between institutional outflows and the conviction of major players underscores that Bitcoin oscillates between immediate stress and long-term expectations of appreciation,” contributor GugaOnChain concluded in one of CryptoQuant’s Quicktake blog posts.

US spot Bitcoin ETF netflows (screenshot). Source: Farside Investors
Data from sources including UK-based investment company Farside Investors put net ETF outflows since Monday at $635 million.

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.

Visa just launched stablecoin settlement in the US using Circle’s dollar-pegged digital asset USDC.

The move allows US issuer and acquirer partners to settle transactions on the blockchain, starting with the Solana network.

The move marks a key step in Visa’s pilot program to integrate stablecoins into global commerce.

Visa’s U.S. stablecoin settlement framework is designed to power seven day settlement windows for faster speed and liquidity, allowing banks and fintechs to settle transactions every day instead of just five business days.

It also modernizes liquidity and treasury management with automated, advanced operations for banks.

Says Visa’s Global Head of Growth Products Rubail Birwadker,

“Visa is expanding stablecoin settlement because our banking partners are not only asking about it – they’re preparing to use it.

Financial institutions are looking for faster, programmable settlement options that integrate seamlessly with their existing treasury operations. By bringing USDC settlement to the U.S., Visa is delivering a reliable, bank ready capability that improves treasury efficiency while maintaining the security, compliance and resiliency standards our network requires.”

Initial participants include Cross River Bank and Lead Bank.

Generated Image: Midjourney

Bhutan commits up to 10,000 bitcoin to back new mindfulness-based economic hubThe Himalayan kingdom plans to deploy part of its sovereign bitcoin holdings to fund long-term development through Gelephu Mindfulness City. Dec 17, 2025, 10:15 a.m.

Bhutan unveiled a national Bitcoin Development Pledge that will allocate up to 10,000 bitcoin BTC$86,773.14, valued around $860 million at current prices, to support the development of Gelephu Mindfulness City.

The commitment positions bitcoin as a strategic national asset rather than a speculative holding, with officials exploring responsible approaches such as collateralization, treasury strategies or long-term holding to fund development while preserving value, according to an emailed announcement on Wednesday.

STORY CONTINUES BELOW

Final decisions on how the assets will be deployed are expected in the coming months.

Gelephu Mindfulness City is a special administrative region designed to use digital assets for its financial reserves, forming a key part of Bhutan's blockchain strategy to diversify its economy and attract investment.

Bhutan was among the earliest sovereign bitcoin miners, converting surplus hydropower into digital assets for several years. The country says it will continue using excess clean energy to mine bitcoin without increasing environmental impact.

The pledge builds on a broader digital strategy that includes blockchain-based national digital identity, crypto-enabled payments for tourism and merchants, and the recent introduction of TER, a sovereign-backed gold token.

Together, Bhutan sees the efforts as blending digital finance with governance, sustainability and social outcomes — particularly for younger generations.

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.

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The influential Democrat is the most vocal critic of the crypto legislation, and she continues to throw rhetorical sand in the gears of the negotiation.

What to know:

U.S. Senator Elizabeth Warren, the ranking Democrat on the Senate Banking Committee, is calling for a probe into DeFi platforms, especially on their relationship with the business interests of President Donald Trump. Warren's pushback comes as the Senate is still negotiating the details of a crypto market structure bill, a process that's now drifted into January. Read full story

These enhancements come as retail trading activity surges. Schwab has facilitated more than seven million daily average trades for three consecutive quarters.
“Schwab is a leader in the retail trading space, serving a diverse range of clients thanks to the best-in-class trading experience we offer,” said James Kostulias, Managing Director and Head of Trading Services. “We continuously add new features and resources to serve our clients, expand our offerings, and make the Schwab experience even more compelling for those seeking to trade.”

Platform Enhancements Designed for Investors
The new features focus on usability and informed trading. On Schwab.com and Schwab Mobile, clients can now use the Extended Hours Valuation toggle to view position-level gains, losses, and market value during regular or extended trading hours. A new Fundamentals and Research Ratings section provides over 15 data points on each position, including earnings growth and revenue performance, alongside independent ratings from CFRA, Morningstar, Reuters, and Argus.

Schwab.com has also upgraded options trading. The Saved Orders feature now supports multi-leg options, and the Option Chains tool lets users sort columns, set custom strike intervals, and view historical quotes in a table format. The thinkorswim platform adds portfolio management tools, letting clients track individual tax lots, customize account displays, filter news sources, and monitor cash movements across accounts. Futures traders gain access to 17 new products, including Solana and Micro Solana contracts, reflecting a growing trend in crypto-linked derivatives.

🔥 NOW: $10.8T Charles Schwab adds Solana and Micro Solana futures to its trading platform. pic.twitter.com/QoyL7YxXiq

— Cointelegraph (@Cointelegraph) December 15, 2025

Beyond technology, Schwab continues to emphasize personalized support. Its network of nearly 400 U.S. retail branches now features Regional Trading Consultants and Senior Engagement Managers, providing education, platform guidance, and investment consultations. This holistic approach ensures that even beginners can navigate markets with confidence.

More About Solana
The Solana ecosystem is seeing a significant surge in prediction market projects, with the current number now eight times higher than 25. This growth highlights the network’s appeal for developers looking to create decentralized platforms where users can bet on future events, from sports outcomes to financial markets.

Solana is home to the largest prediction market ecosystem in crypto cc: @MessariCrypto

With over 24 projects building net new primitives (and many more!) pic.twitter.com/L1DgS4akG2

— Pedr◎ (@Pedromiranda) December 16, 2025

Solana’s high-speed transactions and low fees make it an attractive choice for these types of applications, enabling smooth, real-time betting experiences without the delays or costs often seen on other blockchains.

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.

Wed, 17/12/2025 - 10:27

Sudden $260,387,071 Bitcoin transfer slammed into the world's largest crypto exchange just as extreme fear took over the crypto market, making everyone watch the price slip lower.

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.

A big Bitcoin move on Binance worth a whopping $260,387,071 just occurred, and it looks like it was not an accident.

Whale Alert data shows 3,000 BTC sent from an external wallet into Binance's "15KX2" deposit address. Arkham links the sending wallets to Matrixport-related infrastructure. Two Matrixport-connected wallets deposited about 4,000 BTC, worth around $347.56 million, into Binance on the same day.

Matrixport is a crypto financial services firm that was founded by Jihan Wu, the former CEO of Bitmain. It mostly works with institutions and high-net-worth clients, offering custody, OTC trading, lending, derivatives and structured yield products.

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Matrixport is not your typical retail exchange. People usually use its wallets for execution, hedging and balance management — not for long-term holding.

Two weeks earlier, the same receiving wallet got Bitcoin from BIT.com Matrixport addresses in multiple inflows: 496 BTC, 504 BTC, 998.99 BTC and 1,001 BTC. Today's deposit is the final step in that process, moving the coins to Binance for active trading in spot or derivatives markets.

What's with Bitcoin price?The price of Bitcoin is one to watch here since it is trading at about $86,600 and not able to stay above $90,000 for two months already. Since October, prices have been hitting lower highs, with repeated pullbacks after rallies. 

Large exchange deposits during this type of structure have a history of increasing short-term supply risk, especially when the sender is tied to trading and yield strategies.

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There is no confirmed spot selling yet. The order book data does not show immediate distribution that matches the full size of the deposit. Thus, there are three things to think about here: selling Bitcoin in stages to get cash, setting aside collateral for short or options exposure, or getting ready for higher volatility.

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Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial.

People love to argue about whether Bitcoin (BTC) can reach a million dollars. They frame it as a prediction, a moonshot, or a marketing gimmick. Bulls treat it like the ultimate destiny. Critics treat it like a delusion. But both sides usually miss the point.

Summary

The $1M Bitcoin debate isn’t really about price — it reflects a deeper denial that traditional monetary systems have eroded through crises, interventions, and disappearing restraint.
Bitcoin’s rise stems from people reacting to a financial system where savings lose value, trust feels naïve, and policymakers repeatedly trade long-term credibility for short-term calm.
If Bitcoin ever hits $1M, it won’t signal crypto’s triumph — it will be evidence that the old system relied on permanent intervention, declining trust, and collective denial.

The vocal social media users are split into two camps. People posting laser eyes and people posting clown emojis. A million-dollar Bitcoin isn’t some heroic future where crypto wins. It’s a quiet confession that the old story about money finally stopped working.

For most of our lives, we were taught that money was boring by design. Central banks were meant to be careful adults in the room. Governments could spend, but only within limits. Inflation was something that happened elsewhere, in poorly managed economies, not something baked into the system. When problems arrived, they were “temporary,” handled with caution, then unwound. That framework didn’t collapse all at once. It eroded crisis by crisis.

Denial is that more money doesn’t solve structural problems
In 2021, a million-dollar Bitcoin was still too extreme for even crypto insiders to say out loud. Fast forward to the last six to eight months in a Trump-administration era, and you’ve seen Brian Armstrong, Cathie Wood, and Arthur Hayes casually argue that it may be only a few years away.

Each time something broke, whether that be a financial panic, a pandemic, a banking wobble, the response was the same…intervene now, explain later. Printing was framed as protection. Debt was framed as a necessity. 

The unwind was always promised, never delivered. And over time, the idea of restraint stopped feeling realistic, even irresponsible. Why tolerate pain today when it can be deferred, softened, or hidden tomorrow?

This is where denial enters. Denial that more money doesn’t solve structural problems. Denial that asset inflation and wage stagnation are not connected. Denial that credibility, once lost, doesn’t magically regenerate.

The system kept insisting everything was under control, even as housing became unreachable, savings felt pointless, and risk turned into a one-way subsidy. Bitcoin was born out of that moment, but not as a protest sign. It didn’t ask for reforms or better leadership. It simply opted out.

Bitcoin never promised stability
Bitcoin doesn’t promise stability. It doesn’t rescue anyone. It doesn’t adjust itself to make people feel better. Its rules don’t care who’s in power or what the headlines say. That’s not idealism, it’s indifference.

And in a world where money has become deeply personal and political, indifference starts to feel rare. When people say Bitcoin is “just speculative,” they’re half right. But what they ignore is why the speculation exists in the first place. People aren’t betting on Bitcoin because they suddenly love volatility. They’re reacting to a system where saving feels like falling behind, and trust feels naïve.

A million-dollar Bitcoin would mean that denial won for a long time. It would mean policymakers kept choosing short-term calm over long-term credibility. That every bailout confirmed the last one wasn’t really exceptional. That money slowly turned from a measurement tool into a storytelling device, something used to manage expectations rather than reflect reality.

In that world, Bitcoin becomes a mirror. Not a solution, not a savior, just a reference point that won’t flinch. 

People find it easier to mock Bitcoin than to accept
Its price keeps rising, not because it’s getting better, but because everything else keeps bending. Every new zero would represent another moment when limits were inconvenient, and discipline was postponed.

This is uncomfortable, which is why so many people focus on mocking Bitcoin instead of grappling with what it says. It’s easier to laugh at internet money than to admit that our economic system now depends on permanent intervention and public belief. It’s easier to call Bitcoin reckless than to ask whether endless flexibility might be the real gamble.

The truth is, if Bitcoin ever does reach a million dollars, it won’t feel like victory. It will feel like evidence. Evidence that trust was traded for time. Evidence that the idea of “sound money” wasn’t rejected because it was wrong, but because it was politically unbearable.

Bitcoin doesn’t fix the world. It doesn’t claim to. It just keeps its word. And if that ends up being worth a million dollars, the price won’t be telling us about Bitcoin. It’ll be telling us how long we pretended everything else was fine.

Basil Al Askari

Basil Al Askari is the founder and CEO of MidChains, a regulated virtual asset trading platform based in Abu Dhabi and Dubai, UAE, focused on both retail and institutional markets.

Bhutan commits up to 10,000 BTC to support innovative economic hub, leveraging renewable energy and blockchain technology for national development. On December 17, Bhutan unveiled a national Bitcoin Development Pledge, committing up to 10,000 Bitcoin (up to $1 billion) to support the development of Gelephu Mindfulness City (GMC).

Elizabeth Warren presses Treasury and DOJ on national security risks from DeFi, singling out PancakeSwap and Trump-linked World Liberty Financial as Congress stalls on crypto market rules.

Summary

Warren’s letter asks if DOJ and Treasury are investigating “significant national security risks” from decentralized exchanges like PancakeSwap and demands answers by Jan. 12.
She ties DeFi to terror finance, sanctions evasion and North Korea-linked laundering, while alleging selective crypto enforcement under the Trump administration and new conflicts via World Liberty Financial.
The letter lands as the Senate Banking Committee delays a key market structure bill to 2026 and as pro-crypto Republican John Deaton prepares a fresh Senate run against Warren.

U.S. Senator Elizabeth Warren has requested information from federal authorities regarding potential investigations into decentralized cryptocurrency exchanges, according to a letter sent Monday to Treasury Secretary Scott Bessent and Attorney General Pam Bondi.

Warren and PancakeSwap go toe-to-toe in bitter crypto war
The Massachusetts Democrat asked whether the departments were “investigating significant national security risks posed by decentralized cryptocurrency exchanges like PancakeSwap,” according to the correspondence. Warren requested a response by Jan. 12, framing the inquiry as part of congressional debates over crypto regulation.

The senator raised concerns that decentralized finance could enable illicit finance as crypto legislation remains stalled in Congress, according to the letter. Warren stated the public deserves clarity as Congress weighs crypto market structure legislation, including measures aimed at preventing illicit finance.

Warren cited concerns raised by national security experts and the crypto industry regarding potential exploitation of decentralized finance by terrorists, criminals and sanctioned states, according to the letter. The senator questioned whether political considerations were influencing enforcement of crypto-related cases, citing what she described as selective action under the Trump administration.

The letter referenced reports linking crypto activity to North Korea’s money laundering efforts and raised questions about whether enforcement priorities are being applied evenly across the sector.

Warren’s letter comes as legislative momentum around crypto regulation has slowed in Washington. Senate Banking Committee chair Tim Scott confirmed Monday that a markup hearing on the Responsible Financial Innovation Act, a key digital asset market structure bill, has been delayed until 2026. Lawmakers had expected the committee to advance the legislation before the end of the year.

The letter also highlighted reports alleging that PancakeSwap had been promoting tokens tied to World Liberty Financial, a crypto company linked to the Trump family. Warren stated such activity raised questions about conflicts of interest and the president’s potential influence over crypto policy, concerns echoed by other Senate Democrats, according to the correspondence.

John Deaton, a lawyer known for representing XRP (XRP) holders in legal battles with regulators, announced in November that he will run as a Republican for the U.S. Senate in 2026. Deaton previously challenged Warren in the 2024 election and has criticized her approach to digital asset regulation.

In December, Warren and Senator Jack Reed called on the DOJ and Treasury to investigate World Liberty Financial over alleged connections to illicit actors in North Korea and Russia. The senators cited a September 2025 report from watchdog group Accountable.US, which claimed the firm sold tokens to buyers with ties to money laundering platforms, an Iranian crypto exchange and North Korean hackers. World Liberty Financial has denied any wrongdoing or conflicts of interest.

World Liberty Financial lists President Donald Trump as a “co-founder emeritus,” with his sons Donald Jr. and Eric serving as Web3 ambassadors and Barron Trump as a DeFi visionary, according to the company.

A new initiative on BNB Chain is set to reshape liquidity for decentralized finance, with the upcoming stablecoin positioned at the center of this evolution.

Summary

BNB Chain confirms a new stablecoin initiativeFocus on large-scale and diverse applicationsPotential impact on the ecosystem
BNB Chain confirms a new stablecoin initiative
BNB Chain’s Chinese official account announced on December 16 that a brand-new stablecoin will be launched on the network. The project is being developed on BNB Chain with the clear objective of supporting broad and complex use cases.

Moreover, the announcement highlights that this new stable asset is designed to serve as a liquidity hub across multiple on-chain environments. It will operate as an infrastructure element rather than a simple payment token, aligning with the chain’s long-term ecosystem strategy.

Focus on large-scale and diverse applications
The upcoming stablecoin is intended to aggregate liquidity across different application scenarios and will be specifically tailored for large-scale applications. That said, BNB’s developers appear to be targeting a wide range of users, from everyday DeFi participants to institutional-grade platforms.

In the mid-term, the team expects the bnb stablecoin to improve capital efficiency by allowing funds to move seamlessly between various protocols on the network. However, detailed technical specifications, such as collateral model or governance structure, have not yet been publicly disclosed.

Potential impact on the ecosystem
The new asset is positioned to play a core role in liquidity management for BNB Chain-based decentralized applications. Moreover, it could support advanced use cases that require predictable pricing, such as on-chain lending markets, derivatives platforms and enterprise-grade payment flows.

While the announcement did not provide a launch time beyond the December 16 reveal, the initiative confirms BNB Chain’s ambition to strengthen its stablecoin and liquidity infrastructure. In summary, the network is signaling a push toward scalable, stability-focused tools intended to power the next generation of applications on its chain.

Amelia Tomasicchiohttps://cryptonomist.ch

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder of The Cryptonomist.
She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.