Crypto Alpha: What Is Impacting ETH's Price? Exchange supply dropped to 2016 lows (0.137 ratio), removing ETH from immediate selling pressure as investors move coins to wallets. Bitmain bought $229M in ETH over two days, signaling institutional confidence ahead of the Fusaka upgrade on December 3, 2025. Negative funding rates cleared short risk, lowering the chance of cascading liquidations while ETH rebounds 3.06% to $2,922.97. Why Does It Matter: When exchange supply drops sharply, past patterns show reduced selling pressure often leads to price increases as available coins shrink. Large institutional buys like Bitmain's $229M purchase historically boost confidence and can trigger follow-through buying from other players. In 2020, similar supply drops preceded ETH's 400% rally.
Fundraises & Airdrops 💰 Lightning Network powered wallet, Speed Wallet, raises $8M in a strategic funding round led by Tether alongside Ego Death Capital. Crypto payment network, RedotPay, raises $107M in a Series B funding round led by Goodwater Capital, with participation from Pantera Capital, Circle Ventures and Blockchain Capital, among others. Ethereum blockspace markets, ETHGas, raises $12M in a Seed round led by Polychain Capital, with other investors including Amber Group, BlueYard Capital, Tokka Labs, Stake Capital, and more. Solana-native prediction markett, Worm.wtf, raises $4.5M in a pre-seed round, with investors including 6th Man Ventures, Solana Ventures, Alliance, Borderless, and more. Fogo cancels their token presale amidst backlash regarding their token valuation, announcing their airdrop, which will occur with the token launch on January 13th. Berachain liquidity protocol, Infrared Finance, airdrops 2% of the total token supply to eligible users, with claims closing on 1st January 2026. HyperLend releases their Terms and Conditions for their upcoming airdrop. Users must sign the terms by January 18th to receive their airdrop.
Major Project Updates 🗓️ The Hyperliquid Foundation proposes a validator vote to officially recognize the HYPE tokens held in the Assistance Fund address as burned, taking them out of the circulating supply. MetaMask extends support to include Bitcoin, enabling transfers, swaps and on-ramping directly to the Bitcoin Network. Phantom begins the rollout of their Phantom Cash debit cards, kicking off with US customers. Interop Labs, the initial developers of Axelar Network, have been acquired by stablecoin issuer, Circle. The AXL token and foundation remain independent. Stripe L1, Tempo, introduces Tempo Transactions, enabling a range of features including paying network fees in any stablecoin, batching and concurrent transactions, among others. Although the recent Hyperliquid proposal is seen as largely bullish from HYPE bulls, skeptics question the rationale behind the decision considering better uses for the funds, such as a secondary insurance fund.
Narrative of the Week 📰 The DTCC receives approval from the SEC regarding tokenized assets, opening the path for an increasingly tokenized world, bridging the gap between TradFi and DeFi.
The DTCC receives the no-action letter from the SEC, greenlighting the clearing and settlement of tokenized assets, including stocks, bonds, treasuries, and more. JP Morgan launches their first tokenized money market fund, My OnChain Net Yield Fund (MONY) on Ethereum. Securitize introduces Stocks, natively-tokenized stocks on-chain, as opposed to the majority of implementations which trade the actual stocks off-chain, enabling proper ownership of the actual underlying. Tokenization continues to be a key area of interest for traditional financial institutions in the crypto space, with developments continuing to flourish despite widespread pessimism in the market.
Market Overview 📈 Bitcoin (BTC) ended the week down 4.86%, while Ethereum (ETH) underperformed, falling 8.98% in the same period. Total crypto market cap fell 6.69% to close the week at $2.96T, down from $3.14T in the week prior.
Similar to the weeks since the 10/10 crash, liquidations continued to stay muted, with most days seeing less than $300M in liquidations. Likewise, funding rates maintained under sub-10% levels, reflecting a generally bearish stance on the market.
Michael Saylor’s Strategy acquires 10,645 BTC for a total of $980.3M, bringing their total holdings to 671,268 BTC. Visa launches their Stablecoin Advisory Practice, seeking to assist businesses and financial institutions with stablecoin integrations and implementations. Coinbase announces plans to rollout stock trading on their platform, starting with US customers, alongside prediction markets, powered by Kalshi. Crypto markets broke lower over the week, amidst a weakening equities market. While a positive CPI result helped to reverse some of the damage in equities later into the week, crypto failed to catch a strong bid, with many weak altcoins continuing to fall lower. The S&P 500 closed 1.63% lower over the week, while the Nasdaq trailed behind at 2.01% down.
Crypto Alpha: Are Altcoins Outperforming Bitcoin? Bitcoin dominance climbed to 58.82% (+0.35 pts in 24h) while the CMC Altcoin Season Index sits at 18/100, confirming Bitcoin Season as capital flows away from alts. Major Layer 1s trail Bitcoin, ETH dropped 11.13% and SOL fell 5.33% over 7 days, both underperforming BTC's 5.33% decline despite strong network activity. Stablecoin inflows flatlined at -0.5% in 24h, cutting off the liquidity altcoins need to gain momentum against Bitcoin's institutional-backed strength. Why Does It Matter: When Bitcoin dominance rises, altcoins usually struggle because traders move money to Bitcoin for safety. Stablecoins are the fuel that powers altcoin rallies, when that fuel dries up, alts can't compete with Bitcoin's momentum. Historically, altcoin seasons begin when Bitcoin dominance drops below 40% and fresh stablecoin capital floods exchanges.
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Hundreds of Silk Road-linked wallets moved $3.14 million in Bitcoin after sitting dormant for over a decade. All 176 transfers went to one unknown address on Tuesday.
Ross Ulbricht got a full pardon from Trump in January. The original Silk Road addresses still hold about $38.4 million in BTC.
How much Bitcoin could still be sitting in those undiscovered wallets?
Ethereum's finality mechanism had a close call when a client bug nearly disrupted block confirmations. Vitalik's response? There's "nothing wrong with losing finalization once in a while."
Some bridges and layer-2s rely on finality though.
What actually happens to your funds stuck in a bridge during finality loss?
Bitcoin's having a rough December, down nearly 14% this month and trading at $90,311.55 after another 2.07% dip.
The Fed cut rates like everyone expected, but the market's reaction? A collective shrug followed by a selloff.
Altcoin Season Index crashed to 19, basically screaming "Bitcoin Season" as investors flee to the OG crypto while everything else bleeds out.
And if that wasn't enough, we've got nine major US banks quietly restricting crypto services over the past few years. Nothing says "institutional adoption" quite like your bank showing you the door, right?
Crypto Alpha: What Is the Market Sentiment? Fear persists but shows marginal improvement, CMC Fear & Greed Index climbed from 27 to 29 after 30+ days below neutral, still 31 points shy of the sentiment breakeven line. Institutional flows defy retail retreat, ETF products absorbed $327.9M, while spot trading volume dropped 3.54%, as Bitcoin exchange reserves fell to a 10-year low of 2.93M BTC. Derivatives volatility signals positioning. Funding rates spiked 113% weekly to +0.0026879%, while open interest dropped 6.03%, reflecting trader uncertainty ahead of Fed policy shifts. Why Does It Matter: Prolonged fear phases historically compress price action before catalysts trigger relief rallies. When institutions accumulate during retail selloffs, it often precedes upward moves once sentiment flips. Watch BTC dominance at 58.55%, drops below 57% have historically signaled altcoin rotations, while holds above 59% extend Bitcoin-focused risk-off conditions.
Sachez que le discours de Powell sera même plus important que la baisse ou non des taux d’intérêt.
Concernant la baisse ! Tu te dis que ça va propulser les marchés ? Erreur, soldat. 😏
Cela fait des semaines que Wall Street attend cette décision. ➡️ Tout est déjà dans les prix. À l’annonce : p’tit pump… puis rideau. 🎭
Le marché ne veut plus une baisse. 👉 Il veut un plan, une vision, un Powell confiant. Et si Powell se contente de dire « on baisse aujourd’hui, on verra plus tard »… Alors prépare-toi : Décembre – Janvier – Février, ça peut piquer. 🩸📉
Parce qu’en face : ❌ Croissance ? Faible ❌ Inflation ? Pas maîtrisée ❌ Marchés ? Surévalués Bref : une baisse des taux… sans aucun carburant derrière.
Et le boss final arrive du Japon 🎌 La BoJ pourrait relever ses taux le 18 décembre. Conséquence ? 💥 ➡️ Les capitaux japonais rentrent au pays. ➡️ Moins de liquidités aux US et en Europe. ➡️ Déclencheur de correction mondiale activé.
Donc aujourd’hui, le marché va peut-être tenir… Mais le vrai mouvement, c’est après — et il pourrait faire très mal.
Alors ? 🧠 Powell va-t-il rassurer le monde… ou assister à l’ouverture de la correction d’hiver ? ❄️📉
Crypto Alpha: Are Altcoins Outperforming Bitcoin? Bitcoin Season persists with CMC Altcoin Season Index at 19/100 and BTC dominance holding 58.49%, near 2025 highs despite a minor 24-hour dip of 0.09 points. Institutional capital flows heavily favor Bitcoin with spot BTC ETFs drawing $1.55 billion inflows this week compared to Ethereum's $300 million. Derivatives markets show limited altcoin appetite as BTC perpetuals funding rates jumped 21.2% in 24 hours while altcoin-BTC spreads compressed to just 0.0014%. Why Does It Matter: When Bitcoin dominance stays above 55% and funding rates favor BTC, altcoins usually struggle to gain momentum. Past cycles show that altcoin rallies need two things: falling BTC dominance and risk-on sentiment. Right now, Extreme Fear readings and macro uncertainty keep traders in Bitcoin's safer liquidity pool. Until dominance drops and sentiment shifts, most altcoins face headwinds even if a few tokens pump on specific news.
Bitcoin just jumped $3K in under an hour, climbing back above $94,000 while everyone was supposed to be playing it safe.
The timing? Less than 24 hours before the Fed's rate cut decision. The mood? Cautious optimism mixed with the kind of defensiveness that usually precedes a snapback.
What makes this interesting is what traders are positioned for. Most were bracing for more downside, piling into shorts and hedging against further weakness. Then the market did what it does best and punished the consensus.
The Fear and Greed Index sits at 30, deep in 'Fear' territory. Yet here we are, watching Bitcoin shrug off bearish positioning while $260 million in leveraged shorts got liquidated in just four hours.
Crypto Alpha: What Cryptos Are Showing Bullish Momentum? ULTILAND (ARTX) jumped 21.85% in 24 hours and 174.73% in 7 days after launching a trading rewards program and a $50M fund to bring traditional artists on-chain. Monad (MON) spiked 31.39% in 24 hours following its mainnet launch and $105M airdrop, with only 10% of tokens circulating and over 2M daily transactions. BUILDon (B) rallied 12.96% in 24 hours after World Liberty Financial purchased 636,961 tokens, triggering a 530% price spike tied to Trump-linked entity activity. Why Does It Matter: These three coins are gaining while the broader market sits in fear (CMC Fear & Greed Index at 16/100). When Bitcoin dominance is high (58.9%), small moves in niche projects can signal early capital rotation before altcoins catch up. Past cycles show that coins with new incentives, mainnet launches, or whale purchases often lead short bursts before the wider market follows.
Crypto Alpha: What Upcoming Events May Impact Crypto? Fed ends Quantitative Tightening on December 1, 2025, potentially injecting liquidity that historically correlates with Bitcoin rallies given its 0.75 correlation with tech stocks. Ethereum's Fusaka upgrade launches December 3, 2025, introducing PeerDAS to cut validator costs and Layer-2 fees for networks like Arbitrum and Optimism. FOMC rate decision on December 10, 2025 carries 57% odds of a cut per CME FedWatch, which could override weak technicals or trigger liquidations across $814B in open interest. Why Does It Matter: When the Fed adds money to markets, Bitcoin and crypto often rise because investors look for higher returns. When Ethereum becomes cheaper to use, more people and apps use it, which can push prices up. Past Fed rate cuts have sparked crypto rallies, while rate holds or hikes have caused sharp drops.
💎 Crypto : ce président face à de grosses accusations ! Le président argentin Javier Milei est au cœur d’un scandale crypto-politique majeur.
Tout part d’un projet baptisé Libra, un token qu’il avait publiquement soutenu en février 2025.
Présenté comme une solution innovante pour stimuler l’économie argentine, le projet s’est rapidement transformé en cauchemar financier.
Aujourd’hui, une commission parlementaire accuse Milei d’avoir participé à une escroquerie présumée, avec des pertes estimées entre 250 et 280 millions de dollars.
Le rapport parle d’un pump and dump organisé à haut niveau, impliquant plusieurs proches du président.
Une promotion présidentielle qui tourne au désastre Le 3 février 2025, Milei publie un tweet vantant le token Libra, tout juste lancé... trois minutes plus tôt.
Aucune base technique, aucun projet solide, juste un effet d’annonce massif.
En quelques heures, le prix du token explose, avant de s’effondrer de 90 %.
Le tweet est supprimé, mais les investisseurs, eux, se retrouvent ruinés.
Selon les analystes, ce timing parfait laisse penser à une coordination préméditée.
Ce qui semblait être un simple soutien politique ressemble de plus en plus à une manipulation de marché.
Actu 1 - Une baleine historique vend 1,3 milliard $ en Bitcoin 🐋 Owen Gunden, détenteur de Bitcoin depuis 2011, a vendu l’intégralité de ses 11 000 BTC, soit environ 1,3 milliard $.
Les ventes, réalisées entre 90 000 et 110 000$, représentent une plus-value de près de 300 000%.
Cette liquidation intervient alors que les institutions dominent désormais le marché, reléguant les particuliers au second plan.
Un mouvement qualifié de transfert générationnel, qui interroge sur l’avenir des pionniers face à l’essor des fonds institutionnels.
Actu 2 - Le minage de Bitcoin reprend en Chine malgré l’interdiction ⚙️ Malgré l’interdiction imposée en 2021, le minage de Bitcoin fait son grand retour en Chine.
Le pays représente désormais 14% du hashrate mondial, se plaçant 3ᵉ au rang mondial.
Cette reprise est alimentée par l’électricité excédentaire dans des régions comme le Xinjiang.
Certains analystes y voient un assouplissement implicite de la politique chinoise sur les cryptos.
Pékin envisagerait même des stablecoins adossés au yuan, signe d’un virage numérique en préparation.
Actu 3 - Scission temporaire sur Cardano à cause d’un bug ancien 🧩 La blockchain Cardano a subi une scission temporaire liée à la réactivation d’un bug de délégation ancien.
Une transaction malformée a entraîné une partition du réseau et révélé des risques de double dépense.
L’incident a provoqué l’inquiétude de la communauté Cardano et une enquête du FBI a été demandée par Charles Hoskinson.
Bien que le réseau soit stabilisé, cet événement souligne les défis de sécurité persistants des blockchains complexes.
Le graphique de la semaine 📊 Bitcoin : les sorties d’ETF s’intensifient Le graphique montre les flux cumulés des ETF Bitcoin depuis leur lancement.
Après un pic à 126 000 $, les sorties se sont accélérées, 44 000 BTC ont quitté les ETF depuis octobre.
Voici les informations importantes à retenir de ce graphique :
🔻 C’est la deuxième plus forte vague de sorties jamais enregistrée (la première, en février-avril, atteignait 60 000 BTC).
⚙️ Chaque 10 000 BTC de sorties sur 30 jours réduit la performance du Bitcoin d’environ 3,5 %, la correction actuelle est donc cohérente avec cette relation.
🔄 Le marché est piégé dans un cercle de liquidations : les ventes entraînent de nouvelles sorties, qui accentuent la pression sur le prix.
➡️ Tant que les flux ne se stabilisent pas, le scénario reste baissier.
Les modèles d’Ecoinometrics pointent vers une zone de stabilisation potentielle entre 69 000 et 81 000 $.
Pour l’instant, aucun signal de retournement durable n’apparaît dans les flux — preuve que la phase de purge n’est pas encore terminée.