December 14, 2025, core content of the cryptocurrency circle, mainstream currency market trends, core tokens halving, details are as follows:
1. Bitcoin returned to the $90,000 level and is now fluctuating: During today's Asian trading session, Bitcoin has once again reached $90,000, but overall it is still oscillating in the range of $88,000 to $94,000. From a technical perspective, its eight-hour line indicator is close to the zero axis, showing potential energy, while multiple time dimensions such as one hour and two hours are under obvious pressure. The market is closely watching whether it can break through the pressure zone today; if the breakthrough fails, it may face a risk of retracement.
2. TAO receives industry attention with its first halving: The native token TAO of the decentralized AI network Bittensor completed its first halving today, reducing the daily issuance from approximately 7,200 tokens to 3,600 tokens. This halving was triggered due to a circulating supply of 10.5 million tokens (half of the total cap of 21 million) and is seen as a key milestone in the decentralized AI field, leading to market discussions on whether it can become the "Bitcoin of AI."
3. Institutional attitudes towards crypto assets are polarized: Asset management giant Vanguard has opened up client trading for Bitcoin spot ETFs, but its executives have compared Bitcoin to "digital plush toys," questioning its investment value. In contrast, Bank of America has offered the opposite advice, stating that wealth management clients can allocate 1%-4% of their investment portfolios to digital assets. These two opposing views have sparked heated discussions in the market regarding the investment value of crypto assets.
4. On-chain whales and retail investors show divergent holding behaviors: On-chain data shows that whale addresses holding 10 - 10,000 BTC resumed buying around November 30 after selling off for nearly two months; while retail addresses holding less than 0.01 BTC have not panicked and sold since the market peak in October, but instead have steadily increased their holdings. This divergent trend has made the market more cautious in judging subsequent market conditions.
5. Terraform Labs founder sentenced to 15 years: Due to involvement in a $40 billion fraud case, Terraform Labs co-founder Do Kwon was sentenced to 15 years in prison today. This incident, as a significant judicial case in the cryptocurrency circle, has once again triggered discussions in the market regarding the compliance risks of crypto projects and has sounded the alarm for investors in related risky projects.
