On December 24, 2025, the cryptocurrency market showed weakness, with Bitcoin slightly dropping to $87,692.89. Ethereum also fell by more than 1% to $2,940.17, with major altcoins such as Ripple, Solana, Dogecoin, Cardano, and Tron generally declining. The total market capitalization was $2.9597 trillion, with Bitcoin accounting for 59.16% and Ethereum for 11.99%.
The total trading volume in the last 24 hours decreased to $101.7 billion, with DeFi market trading volume falling by 10.65%, while stablecoins grew by 2.79%, showing a contrasting trend. Derivatives trading volume decreased by 7.57% compared to the previous day.
On the same day, the market cleared leveraged positions worth $184.11 million, with short positions accounting for 58.9% of the total, sparking discussions about a potential short squeeze in the market. The Bitcoin liquidation scale was $75.7 million, Ethereum was $62.69 million, Solana was $21.59 million, and Dogecoin and Zcash also experienced strong liquidations dominated by shorts.
By exchange, Binance ranks first with a clearing amount of $88.5 million, while Hyperliquid's clearing amount of $84.2 million has over 99% in short positions. This suggests upward pressure in the short term.
On-chain data also shows positive signals. BitMine has purchased approximately 38,000 ETH (worth about $113 million) in the past two days, and Pantera Capital has also acquired 6,569 ETH and deposited it into a custody wallet, indicating a trend of accumulating ETH.
In terms of policy, the European Central Bank has gained the support of the EU Council in setting an upper limit on holding digital euros, creating an atmosphere for the introduction of CBDCs in the Eurozone. Additionally, the former president of FTX US raised $35 million in investment for its perpetual futures exchange based on traditional assets.
In South Korea, the current trading price of Bitcoin is slightly lower than that of overseas markets, and the kimchi premium has shown a weakening trend compared to the previous day.
