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Bitcoin$BTC usage remains heavily skewed toward long-term storage rather than active circulation, says Terahash co-founder Hunter Rogers. 📊 Over 60% of BTC hasn’t moved in a year, limiting transaction fees, network activity, and security incentives. 🔒 While accumulation drives price 📈, low throughput risks the network’s long-term sustainability. ⚠️
High Market Cap, Low Network Velocity 📉
Bitcoin continues attracting global attention 🌍, with a market cap above $1.7 trillion. Yet most BTC remains inactive, on-chain activity declines, and miner fee income fluctuates 📉. For a system designed to move value 💸, this mismatch between hype and activity is problematic. Without circulation, fees remain thin, apps struggle to thrive, and network security is threatened 🔐.
The 2140 Scenario: Fees Alone Can’t Sustain Bitcoin 🕰️
When the last Bitcoin is mined ⛏️, block rewards disappear. With fewer than 250,000 daily transactions and low fees, miners may shut down ⚡, compromising security, or fees could rise too high for users. Even in 2025, fee income covers less than 1% of rewards, far below the 10–15% needed for a smooth transition 🔄. Circulation is the missing piece. 🔗
Capital Must Become Productive ⚙️
BTCFi, a new financial layer 🏗️, aims to make Bitcoin’s capital active. By locking BTC into yield-generating protocols linked to hashrate, holders support network security while earning sustainable returns 💎. This creates a self-reinforcing loop: users incentivize miners, miners secure the network, and the system generates on-chain rewards. 🔄
From Vaults to Economy 🏦➡️🌐
Bitcoin was never meant to be static. Participation drives value 📊, as seen in high-engagement networks like TRON. Institutions hoard BTC because holding pays more than participating. BTCFi and other on-chain tools could shift this ⚖️, turning Bitcoin from a static store of wealth into a circulating, functional economy. 🔄💸

ICP surged past $3, continuing its short-term recovery from recent lows. Trading volume increased moderately, reflecting gradual positioning rather than aggressive buying. The $3 level, previously a resistance zone, now serves as a key pivot for near-term direction.
Over the past 24 hours, ICP climbed roughly 2.2% to around $3.01, reclaiming the $3 mark after a period of consolidation below it. The price recovery shows a steady pattern of higher lows, supported by the $2.90–$2.95 support zone where trading activity rose. The moderate volume suggests measured market participation rather than a strong breakout.
ICP remains near $3, testing it as potential support. Sustaining above this level could shift attention to resistance at $3.05–$3.10, while a drop below $3 may refocus on the upper $2.90s. The overall trend remains constructive, with short-term momentum hinging on the $3 handle.$BTC

In a now-familiar pattern during this bear market, crypto prices swung sharply from strong gains to steep losses within a short window. Bitcoin jumped above $89,000 early Thursday during U.S. trading after a much softer-than-expected CPI report initially boosted hopes for looser Federal Reserve policy.
While equities pulled back from session highs, they remained solidly positive on the day, extending their 2025 trend of outperforming crypto. Crypto markets, however, reversed aggressively, with early gains fully erased over the course of a few hours.
Bitcoin$BTC fell from a session peak near $89,300 to a low around $85,500, nearly matching the magnitude of the prior day’s rapid reversal. At press time, BTC traded near $86,000, down 0.8% over 24 hours. The Nasdaq, though off its highs by about 2%, still posted a strong 1.7% gain.
The initial rally followed a sharply cooler November U.S. CPI report, with headline inflation dropping to 2.7% from 3%. The data briefly fueled expectations of a January Fed rate cut, typically supportive of risk assets such as crypto.
Skepticism quickly followed. Economist Omair Sharif highlighted distortions tied to rent and owner’s equivalent rent assumptions, warning the data could artificially suppress year-over-year CPI until April. WSJ’s Nick Timiraos echoed the criticism, calling the methodology “inexcusable.” Markets appear aligned with the skeptics, as January rate-cut odds remain stuck near 24%.
BTC Rangebound, ETH Hedging
Options data from Wintermute shows diverging sentiment between bitcoin and ether. Bitcoin options suggest a range-bound outlook, with traders selling downside protection below $85,000 and limiting upside above $100,000—signaling confidence in support but muted breakout expectations.
Ether options reflect less conviction, with support forming near $2,700–$2,800 while upside calls above $3,100 are sold aggressively, indicating increased hedging rather than bullish positioning.

Bitcoin’s $BTC realized value — a measure of the aggregate cost basis of coins in circulation — has climbed to an unprecedented $1.125 trillion, continuing its ascent even as prices retraced roughly 36% from recent highs.
According to Bitwise strategist Andre Dragosch, current bitcoin $BTC valuations appear misaligned with an increasingly constructive macro environment. Persistent economic strength alongside a potentially more accommodative Federal Reserve could provide fuel for further gains, challenging the relevance of the traditional four-year market cycle narrative.
Despite a near 40% drawdown over the past ten weeks, bitcoin’s realized capitalization remains at record levels, reinforcing the view that the broader market structure remains firmly bullish.
Unlike headline market capitalization, realized cap assigns value based on the price at which each coin last changed hands, offering a clearer lens into genuine capital commitment rather than short-term price volatility.
On-chain data from Glassnode indicates that realized capitalization continued to expand throughout the recent pullback from October’s peak, before leveling off near the $1.125 trillion mark. A comparable consolidation occurred during the April 2025 tariff-driven selloff, when bitcoin found support around $76,000 and subsequently rallied to new record levels.
In contrast, the 2022 downturn saw realized capitalization contract sharply as holders capitulated and assets were redistributed at lower cost bases. That pattern of stress-driven outflows is notably absent in the current market, signaling sustained conviction among long-term participants.

Cryptocurrency
What it is: Digital or virtual currency secured by cryptography, typically decentralized via blockchain technology.
Key Features:
Decentralization (no central authority like a bank)Immutable ledger (transactions can’t be altered)Pseudonymity (users identified by wallet addresses)
Related Pictures:
Bitcoin logo – 🟠 orange circle with “₿”Blockchain visualization – blocks linked in a chain, often with transaction dataCryptocurrency exchange screenshot– price charts, trading pairs (e.g., BTC/USD)Hardware wallet – physical device (e.g., Ledger, Trezor)Mining rig – specialized computers with multiple GPUs/ASICsNFT art example – digital artwork with blockchain provenanceDeFi dashboard – interface showing liquidity pools, yields
Common Terms:
Bitcoin (BTC)$BTC Ethereum (ETH)$ETH Altcoins$ Wallet$WAL Private KeySmart ContractICO/IDOStablecoinToken