The last quarter of the year has always been quite bearish for the Solana price, marking the highest losses for the altcoin since it was launched back in 2020. Naturally, this has made Q4 a dreaded time for Solana investors, and the year 2025 has not been any different. The last two months have already closed in the red with double-digit losses, and with only December left to go, the Solana price might be on track to complete yet another bearish quarter.
Looking At The Historical Performance Of Solana In Q4
Taking into account data from the CryptoRank website, it shows Solana’s less-than-favorable performance in the last quarter. In the last five years, Q4 has had the highest average losses compared to the other quarters, and the month of December plays a major role in that due to how bearish it is.
December, in particular, boasts the second-highest average losses, second only to May’s -9.96% average. However, when it comes to the median returns, the month of December takes the cake, recording a high average of -19.6% losses over the year.
In the five years of its existence, only one year, in 2023, has the Solana price closed out the month of December in the green with 71.4% gains. The other years have ended with at least 18% losses, and this month is already looking bearish with -0.79% losses so far.
With the months of October and November already closing in the red, it is likely that December will follow. The last time that both October and November closed in the red was back in 2022, and December would follow suit with -29.6% returns for the month.
Analyst Says A Bounce Could Come Instead
While historical data suggests that the Solana price could end up struggling this month, one crypto analyst has presented a scenario where the altcoin could bounce back. This move is predicated on Solana’s ability to actually hold the support and break the next resistance.
Interestingly, though, the analyst’s chart shows an initial 15% dump before the Solana price finds support somewhere around $116. After that, the price is expected to rebound, and the target for the cryptocurrency after this would be the $170 level. The weekly candlestick also supports this possible jump, something that would send Solana to the green in September.
For now, the bulls continue to struggle despite last week’s campaign for $150, suggesting that there is a great deal of resistance at this level. If selling continues to build up, then it is likely that Solana will move down as predicted.
Рынок снова нервничает: высокая волатильность, агрессивные продажи плечевых позиций и нарастающие разговоры о «криптозиме» усиливают страх перед глубокой коррекцией Bitcoin. Для многих это повод заморозить капитал в стейблкоинах, но для части инвесторов такие периоды — время искать инфраструктурные истории.
Биткоин уже больше десяти лет остается базовым активом рынка, но его ограничения никуда не делись. Медленные транзакции, высокая комиссия в периоды нагрузки и практически полное отсутствие гибких смарт‑контрактов делают сеть неудобной для DeFi и массовых приложений. Отсюда и всплеск интереса к слоям решений поверх Bitcoin.
На этом фоне усиливается внимание к инфраструктурным альткоинам, которые пытаются превратить Bitcoin из «цифрового золота» в полноценную базу для финансовых приложений. Инвесторы все чаще смотрят не только на цену, но и на архитектуру: модульные блокчейны, виртуальные машины, мосты ликвидности. В подобных обзорах уже стабильно фигурируют лучшие альткоины следующего цикла.
Именно в такой контекст вписывается Bitcoin Hyper и токен $HYPER — инфраструктурный проект, который заявляет о себе как о первом Bitcoin Layer 2 с интеграцией Solana Virtual Machine. В условиях возможной глубокой просадки Bitcoin это ставит перед инвестором простой вопрос: оставить капитал пассивным или использовать спад, чтобы зайти в инфраструктуру, которая может масштабировать сам Bitcoin.
Главная проблема Bitcoin хорошо знакома каждому, кто хоть раз проводил транзакцию в период пикового спроса. Подтверждение может занимать десятки минут, а комиссии доходят до заметных сумм даже для простого перевода. Для мира DeFi, игр и высокочастотных платежей это критическое ограничение.
Поэтому за последние годы сформировалась целая линейка решений второго уровня. Одни делают ставку на платежные каналы, другие — на «роллап»-архитектуру, третьи экспериментируют с отдельными виртуальными машинами и боковыми цепочками. Это отражает растущую конкуренцию за роль ключевой инфраструктуры поверх Bitcoin.
Параллельно развивается сегмент высокопроизводительных цепочек вроде Solana, которые предлагают тысячи транзакций в секунду, но не имеют прямой «родной» привязки к безопасности Bitcoin. В результате рынок ищет гибрид: инфраструктуру, которая даст производительность уровня Solana, но при этом будет опираться на проверенную временем сеть Bitcoin. Bitcoin Hyper как раз пытается занять эту нишу, предлагая Layer 2 с поддержкой SVM.
Bitcoin Hyper: ставка на SVM и скорость выше Solana
Bitcoin Hyper строит модульную архитектуру: базовый слой Bitcoin отвечает за финальные расчеты, а отдельный слой с Solana Virtual Machine берет на себя исполнение транзакций и смарт‑контрактов в режиме реального времени. Это сочетание позволяет получить сверхнизкую задержку обработки операций и при этом опираться на безопасность основной сети.
Команда заявляет, что производительность L2‑уровня превосходит показатели самой Solana, а комиссии удерживаются на уровне долей цента даже при высокой нагрузке. Для пользователя это открывает возможность проводить расчеты в обернутом Bitcoin, запускать DeFi‑протоколы, платформы NFT и игровые приложения на знакомом стеке Rust, но с привязкой к капиталу в Bitcoin, а не только к экосистеме Ethereum.
Отдельный элемент конструкции — децентрализованный канонический мост для перевода Bitcoin на второй уровень, а также совместимость с токенами формата SPL, адаптированными под эту L2‑среду. На этапе раннего размещения проект уже привлек $29 млн при цене около $0.013395 за токен $HYPER, что демонстрирует заметный интерес к идее ускоренного Bitcoin на базе SVM. При этом данные ончейн‑мониторингов показывают, что два крупных кошелька суммарно приобрели около $396 000, что обычно воспринимается как сигнал внимания «умных денег».
Модель вознаграждения держателей $HYPER строится вокруг стейкинга с повышенным APY и участием в управлении сетью. После запуска токена ранние инвесторы могут практически сразу переводить токены в стейкинг, а для участников предварительной продажи предусмотрен семидневный период вестинга. В перспективе ключевую роль будут играть не только финансовые стимулы, но и права голоса в развитии протокола.
Задача Bitcoin Hyper проста и амбициозна одновременно: устранить для Bitcoin три главных ограничения — медленные транзакции, высокие комиссии и отсутствие развитых смарт‑контрактов. Если проекту удастся закрепиться в роли производительного Layer 2 с SVM и удобным инструментарием для разработчиков, $HYPER может стать одной из немногих инфраструктурных ставок, которые выиграют от следующего витка интереса к Bitcoin, а не просто будут следовать за его ценой.
Ripple currently controls a staggering amount of XRP, and now questions from market experts are mounting over whether the crypto payments company may be forced to sell 25% of its 45 billion token holdings. Analysts suggest that a possible selloff could have major implications. At the same time, they question the pathways through which Ripple could sell its holdings and who the potential buyers might be.
Ripple To Face Pressure To Sell 25% Of XRP Holdings
Ripple may soon need to drastically reduce more than half of its substantial XRP reserves as regulatory discussions over the proposed CLARITY Act intensify. In a recent post on X, market expert Crypto Sensei shared a video, drawing attention to a provision in the CLARITY Act that would prevent any company from controlling more than 20% of a blockchain’s native asset’s total supply.
Currently, Ripple owns 45 billion XRP, split between escrow and direct reserve, representing 45% of the cryptocurrency’s total supply of 100 billion tokens. This indicates that the company controls nearly half of the total XRP supply—a level of concentration that typically runs counter to the decentralization narrative of crypto and blockchain technology.
Crypto Sensei suggests that US lawmakers are seemingly focused on preventing excessive accumulation of supply, and Ripple’s holdings stand out as one of the clearest examples of a single entity controlling a large portion of a network’s token. According to the analyst, if the CLARITY Act is implemented in 2026, Ripple may need to sell at least 25% of its holdings to comply with the legislation.
A reduction of this magnitude would lower the crypto company’s XRP reserves to 20 billion tokens, or 20% of the cryptocurrency’s total supply. At the current price of $2.0 per token, this would amount to roughly $40 billion. Notably, such a sell-off would likely require coordination with liquidity providers and partnering institutions to avoid unnecessary market disruption.
Potential Selling Paths And Institutional Speculation
In his X video, Crypto Sensei outlined several potential paths Ripple could take to reduce its substantial XRP reserves. One option is to sell the rights to future escrow releases instead of the tokens themselves. Another involves selling the accounts into which the escrowed XRP completes while preventing the tokens from circulating.
According to the market expert, these possibilities have sparked widespread speculation that major financial players, such as BlackRock, could already be involved or poised to purchase future XRP escrow rights. The idea continues to circulate because it would allow institutions to gain exposure to the cryptocurrency without immediately affecting the circulating supply.
Crypto Sensei also notes that Ripple locks about 700 million XRP in escrow each month, raising questions about whether these transfers may represent sales. The analyst argues that if sales were occurring, the on-chain trail would clearly show tokens moving to buyers’ wallets, but the data does not reflect this. He highlighted that the current evidence points to a far more controlled internal process rather than large-scale institutional distributions.
Secondo i monitoraggi on-chain, un walletcollegato al fondatore di TRON,Justin Sun, ha prelevato 100 milioni di TRX da Binance il 3 dicembre 2025. I report indicano che lo stesso indirizzo ha spostato anche 5 milioni di USDT quasi contemporaneamente.
Questi ingenti trasferimenti sono stati segnalati pubblicamente da Onchain Lens e ripresi da molteplici testate di notizie crypto.
Valore delle Transazioni e Tempistiche
Il tracciamento on-chain mostra che i 100 milioni di TRX valevano circa 28 milioni di dollari al momento dello spostamento. Il trasferimento di USDT da 5 milioni di dollari è avvenuto entro un minuto dal prelievo di TRX, portando gli osservatori a definire l’azione come “coordinata” piuttosto che di routine.
In base ai report, la tempistica ravvicinata e il mix di asset — token nativo più stablecoin — hanno attirato un’attenzione extra da parte dei trader e degli investigatori on-chain.
I dati mostrano anche che il wallet collegato a Justin Sun detiene ora un saldo TRX molto più ampio di questo singolo trasferimento. I servizi di tracking riportano che l’indirizzo possiede circa 492 milioni di TRX, una holding con un valore nozionale vicino ai 138 milioni di dollari ai tassi di mercato attuali. Questo saldo in crescita ha alimentato le voci secondo cui l’accumulo di TRX è stato costante negli ultimi giorni.
I movimenti iniziali del mercato sono stati tenui. Alcuni dati degli exchange e commenti hanno notato un lieve rialzo nel prezzo di TRX dopo la notizia, suggerendo che i trader abbiano interpretato il deflusso come una rimozione della pressione di vendita dai book degli ordini dell’exchange.
Gli analisti che tracciano la liquidità degli exchange affermano che grandi prelievi come questo possono ridurre l’offerta disponibile sul lato vendita (sell-side supply) e supportare la stabilità dei prezzi se la domanda tiene. Tuttavia, qualsiasi trend di prezzo chiaro dipenderà da cosa accadrà dopo con i token prelevati.
Nessuna Dichiarazione Ufficiale
Non c’è stata alcuna dichiarazione pubblica da parte di Justin Sun o TRON per spiegare i trasferimenti. Senza conferme, le motivazioni rimangono speculative. Gli osservatori stanno valutando alcune possibilità comuni:
Cold Storage a lungo termine: Spostare i fondi al sicuro fuori dagli exchange.
Staking o uso nel protocollo: Utilizzare i token per la governance o per generare rendimento DeFi.
Movimenti di tesoreria interna.
Tutte queste idee sono plausibili, ma nessuna è confermata dal team.
Cosa potrebbe accadere ora?
Se i token rimangono offline (fuori dagli exchange), alcuni trader potrebbero vedere la mossa come rialzista (bullish) poiché taglia l’offerta fluttuante detenuta sulle grandi piattaforme di scambio. Se i fondi venissero successivamente venduti o usati per fornire liquidità, l’effetto potrebbe oscillare nella direzione opposta.
I report sottolineano che mosse simili da parte dei grandi detentori (“Whales”) sono state a volte seguite da un accumulo silenzioso e altre volte da grandi trasferimenti verso sedi di trading — tempismo e intenzioni faranno la differenza.
On Sunday, XRP staged a bounce to the $2.1 price level, flipping the market into a bullish atmosphere. However, on-chain metrics are flashing conflicting signals as the market splits between bullish and bearish narratives due to a disparity in investors’ actions on major exchanges.
A Two-Sided XRP Market Mood Emerges
XRP, a leading altcoin, has sent one of its most perplexing signals in recent months, leaving traders unsure about what to expect next in the market or price. Arthur, a market expert and official partner of the BingX crypto exchange, has outlined a distinct behavior among investors in two regions.
According to the market expert, the altcoin is exhibiting a mixed signal right now after examining the activity of investors on the Binance and Bithumb exchanges. Currently, investors on the Binance exchange are demonstrating bullish activity while those on Bithumb are displaying signs of weakening sentiment and uncertainty.
On the Binance side, Arthur noted that the supply of XRP on the exchange is experiencing a steady decline. This persistent withdrawal from the largest cryptocurrency exchange in the world is mostly carried out by large investors known as whale holders, which is causing a tightening supply.
Such a pattern extends beyond simple reshuffling from these key investors. Furthermore, it points to a strategic move by wealthy investors, who usually take action ahead of more general market trends. Historically, the movement of these high-value wallets’ assets away from centralized exchanges is a sign that the cohort could be getting ready for an impending market catalyst.
Meanwhile, on Upbit and Bithumb, the expert reported that there is a steady flow of XRP into the two largest crypto exchanges in South Korea. When coins flow into exchanges, it usually points to short-term selling pressure, suggesting that investors in the Asian region are currently locking in profits.
Heightened Demand For The Altcoin Via ETFs
Demand for XRP is still waxing strong in certain key areas, especially the Spot Exchange-Traded Funds (ETFs). Following weeks of market turbulence, institutional appetite for the altcoin appears to have increased, creating a strong new tailwind.
In another X post, Arthur reported that the altcoin has experienced steady inflows over the last 15 days, signifying the longest continuous run since funds tracking the token started trading. Within this timeframe, the expert highlighted that the funds have recorded a whopping $900 million Asset Under Management (AUM).
Despite modest price movement, this consistent flow of funds indicates that big investors are discreetly increasing exposure, indicating growing confidence in XRP’s long-term prospects. With the Clarity Act set to gain approval, the expert is confident that the development could attract more inflows into the funds. It may also see retail investors, institutional investors, and ETFs moving in a single direction.
DOGE community member DogeMemeGirl has drawn the community’s attention to Tesla’s new code, which hints at Dogecoin payments integration. This comes over a year after Elon Musk revealed that Tesla would accept DOGE as a payment option at some point.
Dogecoin Payments May Be Imminent As Tesla Updates Backend Code
In an X post, DogeMemeGirl revealed that Tesla is upgrading its Dogecoin integration as the new backend code shows a “massive” shift from the old setup. She explained that the old code was basic and dormant, restricted to Tesla’s merchandise only. Meanwhile, the code provides a significant upgrade and hints at DOGE payments for Tesla cars.
The community member revealed that the new code is woven deep into vehicle checkout for the Tesla Model 3 and the Cybertruck. It also includes hidden “order with Dogecoin” buttons that indicate the Dogecoin payments integration. Lastly, DogeMemeGirl stated that the new code features real-time price conversion and dynamic error handling.
She also hinted that Dogecoin is likely to be the only crypto that will be accepted by Elon Musk’s Tesla in the meantime. This came as DogeMemeGirl stated that the Bitcoin references have been scrubbed in the new code, while DOGE remains. The community member noted that it is still disabled, but that the infrastructure to buy a Tesla with DOGE is actively being built.
Tesla’s potential integration of Dogecoin payments could provide a huge boost for the foremost meme coin, expanding its utility and likely leading to more adoption for DOGE. Notably, Musk stated last year that his car company would begin accepting DOGE payments for car purchases at some point. Tesla already accepts the meme coin for some of its merchandise.
DOGE Integration In X Payments?
This development of the Tesla Dogecoin payments integration comes amid speculations that Elon Musk’s X could also integrate the meme coin into ‘X Payments.’ Musk stated last month that X payments is coming soon, with the possibility that it will still launch this year, as earlier announced by the then-CEO Linda Yaccarino.
DOGE community members, including famous crypto pundit Kevin Capital, have speculated that Musk will integrate DOGE in X payments, which would boost the meme coin’s adoption. Kevin indicated that a potential integration could also significantly impact the DOGE price.
In the meantime, the meme coin just received another major boost as Argentina’s capital, Buenos Aires, reportedly passed a law allowing its citizens to pay taxes in DOGE. Dogecoin’s official X platform drew attention to this development just as the meme coin celebrated its 12th anniversary, having launched in 2013.
At the time of writing, the Dogecoin price is trading at around $0.14, up in the last 24 hours, according to data from CoinMarketCap.
Michael A. Gayed, portfolio manager at Toroso Investments and publisher of macro research service The Lead-Lag Report, has put the XRP community on alert after a series of posts teasing a major related initiative.
Gayed Teases Yen-XRP Strategy
Gayed, a CFA charterholder known for his bearish, risk-focused market commentary, first flagged the cryptocurrency on December 4, posting: “Might do something related to XRP.” A day later he tied that tease directly to his broader macro outlook, writing: “You know how I always say we’re fucked? It’s time to find a way to profit from it. Might involve the Yen. And XRP.”
On December 6, he indicated that his interest in the token would not be a one-off remark, stating: “Going to do a long form post on XRP shortly.” In a separate message the same day he warned followers, “Might get annoying as fuck about XRP,” and urged them: “Put your notifications on for my account.”
The tone shifted further on December 7 from exploration to concrete signaling. Responding to speculation that he was chasing social metrics, Gayed insisted: “It’s not engagement farming. I’m working on something big. Big hint will be revealed this Thursday.” Without specifying whether he is referring to research, a trading strategy, or a product, he made clear that the token will be central to whatever he is preparing.
In a final note to close out that sequence, Gayed addressed the community directly: “Goodnight XRP army. I wrote this song. It’s yours now.” The song, shared with his followers, has since been circulated by prominent accounts, cementing his outreach to one of crypto’s most vocal retail bases.
What makes this notable is not just the content of the posts, but who is posting them. Gayed operates at the intersection of traditional asset management, ETF work and cross-asset macro research. His Lead-Lag framework is built around intermarket signals and risk regimes, and he has repeatedly warned of underpriced systemic risk in global markets.
Against that backdrop, the line “Might involve the Yen. And XRP” suggests he is working on a structured macro thesis that somehow connects currency dislocations, his negative outlook and the token. However, he has not yet disclosed any specific trade structure, allocation decision or product plan.
As of now, the verifiable facts are limited: Gayed has promised a long-form analysis, has stated he is “working on something big,” has explicitly rejected the idea that this is “engagement farming,” and has linked the token and the yen to his long-standing message that markets are in a precarious state. The exact nature, timing and market impact of his planned initiative remain unknown.
Until he publishes the promised long-form piece or a formal announcement, holders and broader market participants only know one thing for sure: a high-profile macro and ETF strategist has decided to make XRP a central theme of his upcoming work—and he wants everyone watching when he does.
US President Donald Trump’s new national security strategy is drawing attention for what it leaves out, not what it includes. The document, released this week, highlights threats from hostile states, the rise of artificial intelligence, and worries tied to quantum technology. But it does not mention crypto or blockchain at all, even after months of strong political talk around digital assets.
No Crypto In The New Strategy
According to reports, the strategy outlines several areas Washington plans to strengthen, including defense modernization and partnerships with key allies. It also mentions how emerging tools like AI and biotech could shape competition in the years ahead.
Crypto, however, is missing from the list. That omission stands out because the administration previously backed a plan to build a national digital-asset reserve and had signaled that Bitcoin could play a role in long-term economic planning.
One part of the document mentions that Trump aims to maintain and expand “America’s financial sector dominance” by leveraging the nation’s “leadership in digital finance and innovation” to safeguard market liquidity and stability, which some interpret as a possible reference to crypto.
Observers say the silence does not match earlier moves. In January, Trump approved an order that encouraged agencies to prepare for a “digital-asset stockpile,” an idea tied to creating a Strategic Bitcoin Reserve.
That announcement caught global attention, especially after Bitcoin climbed past $126,000 earlier this year before falling to the $88,000 range during a market pullback.
Industry Reaction
Based on reports, some analysts believe the White House chose to keep crypto out of the national security framework to avoid shifting it into a military or defense category.
They argue that digital assets may stay under economic and financial oversight instead of being treated as a strategic security concern.
Others think the omission could weaken the momentum that crypto supporters hoped to see after months of praise from government officials.
Several industry voices say they expected at least a short reference to blockchain due to the technology’s increasing presence in global payments and national-level discussions.
Reports have disclosed that developers and crypto policy groups were tracking the document closely, waiting to see if digital money would be acknowledged in the same way as AI or quantum computing.
That did not happen, and the silence left many wondering whether Washington sees crypto as a priority or just another financial tool.
Questions Moving Forward
The lack of any direct language about crypto may influence market expectations. Some investors considered the national security strategy an important signal that could shape future regulation or federal participation in the crypto economy.
Instead, the absence of a clear stance has raised questions about whether the US will slow its public adoption plans, even as other countries push ahead with central bank digital currency testing.
Featured image from Getty Images, chart from TradingView
Trong khi mọi ánh mắt đổ dồn vào các ETF Solana (SOL) với tổng dòng vốn vào khoảng $682 triệu, thì ETF XRP âm thầm vượt mặt với $874 triệu — dù các sản phẩm SOL ra mắt trước. Cùng lúc đó, một loạt ETF altcoin mới liên quan đến LTC, HBAR, DOGE và LINK cũng đã chính thức gia nhập cuộc chơi, mỗi quỹ đều ghi nhận dòng vốn khiêm tốn nhưng ổn định kể từ khi ra mắt.
Thực đơn “Altcoin Buffet” chính thức xuất hiện trên Wall Street
Bảy ETF Solana riêng biệt đã tạo ra $618,62 triệu dòng vốn ròng kể từ khi niêm yết, và với $915,08 triệu tổng tài sản quản lý, các quỹ này hiện chiếm khoảng 1,15% vốn hóa Solana.
Trong khi đó, XRP đã thu hút $874,28 triệu, theo dữ liệu từ sosovalue.com.
Chỉ có bốn ETF XRP xuất hiện trên bảng điều khiển của nền tảng này — do Grayscale, Franklin Templeton, Canary và Bitwise quản lý. ETF của Canary, với mã XRPC, dẫn đầu với $357 triệu dòng vốn kể từ ngày đầu tiên. Riêng ngày hôm qua, cả nhóm thu hút $50,27 triệu, trong đó Grayscale GXRP đóng góp lớn nhất.
Tổng cộng, bốn ETF này đang nắm giữ $906,46 triệu giá trị XRP, tương đương 0,68% vốn hóa của XRP.
Đối với các nhà đầu tư muốn tiếp cận LINK, HBAR, LTC và DOGE, những ETF mới ra mắt này cũng đã ghi nhận tổng cộng $133,46 triệu dòng vốn ròng. Riêng DOGE có hai ETF — Grayscale GDOG và Bitwise BWOW — thu hút $2,85 triệu.
ETF Floodgates Open: Altcoin ngập tràn lựa chọn
Grayscale GLNK đã thu hút khoảng $40,90 triệu, trong khi LTCC của Canary (theo dõi Litecoin) thu về $7,67 triệu. ETF HBAR của Canary (HBR) đã ghi nhận $82,04 triệu dòng vốn ròng.
Khi nhà đầu tư có thể dễ dàng “nhảy giữa các quỹ”, thị trường nhiều khả năng sẽ biến động mạnh hơn khi dòng vốn luân chuyển liên tục.
Và mặc dù XRP và SOL ETF đang bám đuổi sát sao nhau, cả hai vẫn còn rất xa so với BTC và ETH ETF — những quỹ đã được triển khai sớm hơn một năm và đang tiến gần mốc hai năm hoạt động.
Khi ngày càng nhiều ETF altcoin được tung ra thị trường, dòng vốn sẽ tiếp tục phân tán. Thách thức lớn nhất sẽ là liệu sự hào hứng của nhà đầu tư có theo kịp tốc độ mở rộng của danh sách quỹ hay không. Hiện tại, các ETF mới đang cạnh tranh quyết liệt với nhau, nhưng hành trình để đạt tới tầm vóc của BTC và ETH ETF vẫn còn rất dài.
Tuy nhiên, sự mở rộng này cho thấy thị trường đang chuyển sang giai đoạn mới — một giai đoạn của sự lựa chọn đa dạng, cạnh tranh mạnh mẽ và dòng vốn mới tràn vào.
Bitcoin Hyper – ứng viên altcoin tiềm năng giữa làn sóng ETF mới
Dù bài toán ETF đang chi phối dòng tiền tổ chức, nhà đầu tư nhỏ lẻ và trung hạn vẫn đang tìm kiếm altcoin tiềm năng có thể bứt phá ngoài phạm vi ETF truyền thống.
Một trong những cái tên ngày càng nổi bật là Bitcoin Hyper (HYPER) — dự án Bitcoin Layer-2 chạy trên Solana Virtual Machine (SVM), tạo ra sự kết hợp giữa tốc độ Solana và bảo mật Bitcoin.
Với gần $29 triệu huy động được từ presale, tổng cung cố định 21 tỷ token, và APY staking 40%, HYPER đang thu hút sự chú ý mạnh mẽ từ cả trader lẫn nhà đầu tư tổ chức nhỏ.
Mô hình này mở ra khả năng giúp lượng BTC “nằm im” có thể tham gia DeFi — điều mà các nhà phân tích coi là một trong những cơ hội tăng trưởng mạnh nhất ngoài ETF, giúp Bitcoin Hyper trở thành một trong những đồng altcoin tiềm năng đáng theo dõi nhất trong năm tới.
A new a16z crypto research paper argues that apocalyptic narratives about quantum computers instantly killing Bitcoin are badly misaligned with reality, and that the real risk for blockchains lies in long, messy migrations rather than a sudden “Q-Day” collapse. The piece has already triggered a sharp rebuttal on X from investors who say the threat is closer and harder than a16z suggests.
Bitcoin Isn’t Doomed By Quantum Computing: a16z
In the article “Quantum computing and blockchains: Matching urgency to actual threats,” a16z research partner and Georgetown computer science professor Justin Thaler sets the tone early, writing that “Timelines to a cryptographically relevant quantum computer are frequently overstated — leading to calls for urgent, wholesale transitions to post-quantum cryptography.” He argues that this hype distorts cost–benefit analyses and distracts teams from more immediate risks such as implementation bugs.
Thaler defines a “cryptographically relevant quantum computer” (CRQC) as a fully error-corrected machine capable of running Shor’s algorithm at a scale where it can break RSA-2048 or elliptic-curve schemes like secp256k1 in roughly a month of runtime. In his assessment, a CRQC in the 2020s is “highly unlikely,” and public milestones do not justify claims that such a system is probable before 2030.
He stresses that across trapped-ion, superconducting and neutral-atom platforms, no device is close to the hundreds of thousands to millions of physical qubits, with the required error rates and circuit depth, that would be needed for cryptanalysis.
Instead, the a16z piece draws a sharp line between encryption and signatures. Thaler argues that harvest-now-decrypt-later (HNDL) attacks already make post-quantum encryption urgent for data that must remain confidential for decades, which is why large providers are rolling out hybrid post-quantum key establishment in TLS and messaging.
But he insists that signatures, including those securing Bitcoin and Ethereum, face a different calculus: they do not protect hidden data that can be retroactively decrypted, and once a CRQC exists, the attacker can only forge signatures going forward.
On that basis, the paper claims that “most non-privacy chains” are not exposed to HNDL-style quantum risk at the protocol level, because their ledgers are already public; the relevant attack is forging signatures to steal funds, not decrypting on-chain data.
Bitcoin-Specific Headaches
Thaler still flags Bitcoin as having “special headaches” due to slow governance, limited throughput and large pools of exposed, potentially abandoned coins whose public keys are already on-chain, but he frames the time window for a serious attack in terms of at least a decade, not a few years.
“Bitcoin changes slowly. Any contentious issues could trigger a damaging hard fork if the community cannot agree on the appropriate solution,” Thaler writes, adding “another concern is that Bitcoin’s switch to post-quantum signatures cannot be a passive migration: Owners must actively migrate their coins.”
Moreover, Thalen flags a “final issue specific to Bitcoin” which is its low transaction throughput. “Even once migration plans are finalized, migrating all quantum-vulnerable funds to post-quantum-secure addresses would take months at Bitcoin’s current transaction rate,” Thaler says.
He is equally skeptical of rushing into post-quantum signature schemes at the base-layer. Hash-based signatures are conservative but extremely large, often several kilobytes, while lattice-based schemes such as NIST’s ML-DSA and Falcon are compact but complex and have already produced multiple side-channel and fault-injection vulnerabilities in real-world implementations. Thaler warns that blockchains risk weakening their security if they jump too early into immature post-quantum primitives under headline pressure.
Industry Split On The Risk
The most forceful pushback has come from Castle Island Ventures co-founder Nic Carter and Project 11 CEO Alex Pruden. Carter summed up his view on X by saying the a16z work “wildly underestimates the nature of the threat and overestimates the time we have to prepare,” pointing followers to a long thread from Pruden.
Pruden begins by stressing respect for Thaler and the a16z team, but adds, “I disagree with the argument that quantum computing is not an urgent problem for blockchains. The threat is closer, the progress faster, and the fix harder than how he’s framing it & than most people realize.”
He argues that recent technical results, not marketing, should anchor the discussion. Citing neutral-atom systems that now support more than 6,000 physical qubits, Pruden points out that “we now have a non annealing system with more than 6000 physical qubits in the neutral atom architecture,” directly contradicting any implication that only non-scalable annealing architectures have reached that scale. He notes that work such as Caltech’s 6,100-qubit tweezer array shows large, coherent, room-temperature neutral-atom platforms are already a reality.
On error correction, Pruden writes that “surface code error correction was experimentally demonstrated last year, moving it from a research problem into an engineering problem,” and points to rapid advances in color codes and LDPC codes.
He highlights Google’s updated “Tracking the Cost of Quantum Factoring” estimates, which show that a quantum computer with about one million noisy physical qubits running for roughly a week could, in principle, break RSA-2048 — a twenty-fold reduction from Google’s own 2019 estimate of twenty million qubits.
“Resource estimates for a CRQC running Shor’s algorithm have dropped by two orders of magnitude in six months,” he notes, concluding, “To say that this trajectory of progress might potentially deliver a quantum computer before 2030 is not an overstatement.”
Where Thaler emphasizes HNDL as an encryption problem, Pruden reframes blockchains as uniquely attractive quantum targets. He stresses that “public keys used in digital signatures are just as easy to harvest as encrypted messages,” but in blockchains those keys are directly tied to visible value. He points out that “these public keys are distributed & directly associated with value ($150B for Satoshi’s BTC alone),” and that once a quantum adversary can forge signatures, “If you can forge a signature, you can steal the asset regardless of when that original UTXO/account was created.”
For Pruden, this economic reality means “the economic incentives simply and clearly point to blockchains as being the first cryptographically relevant quantum use case,” even if other sectors also face HNDL risks. He adds that “blockchains will be far slower to migrate than centralized systems. A bank can upgrade its stack. Blockchains must reach global consensus, absorb performance trade-offs from PQ signatures, and coordinate millions of users to migrate their keys.”
Invoking Ethereum’s multi-year shift from proof of work to proof of stake, he writes, “The closest thing was the ETH 1.0 to 2.0 transition which took years, and as complex as that was, a PQ migration is much harder. Anyone who thinks this is a matter of swapping a few lines of signature code has simply never shipped, deployed, or maintained a production blockchain.”
Pruden agrees with Thaler that panic is dangerous, but flips the conclusion: “I agree that rushing is dangerous. But that is exactly why work must begin now. The most likely failure mode is that the industry waits too long, and then a major QC milestone triggers a panic.” He closes by saying he disagrees that “quantum computing is progressing slowly,” that “blockchains are less vulnerable than systems exposed to HNDL risk,” or that “the industry has years of slack before action is needed,” arguing that “All three assumptions are at odds with reality.”
Покерный мир отметил новое яркое событие: 5 декабря состоялась премьера первого видео на официальном YouTube-канале Марио Мосбека. Профессиональный игрок и амбассадор CoinPoker познакомил зрителей с уникальным материалом, который ранее не попадал ни на одну медиаплатформу. В преддверии премьеры прошел специальный 24-часовой розыгрыш, в ходе которого каждый новый подписчик автоматически участвовал в распределении призов на сумму $5 000. Этот запуск стал заметным шагом вперед в развитии личного бренда Мосбека и предложил поклонникам покера новый источник эксклюзивного контента и аналитики.
Эксклюзивные кадры из Triton Invitational Montenegro: что увидели зрители
Для первого ролика Мосбек подготовил материалы из турнира, который сам по себе вызывает огромный интерес — Triton Invitational Montenegro с бай-ином $200 000. Это одно из самых элитных событий мирового покера, где за столами собираются признанные мастера и известные VIP-игроки. На Дне 1 Марио оказался за столом с Филом Айви, Артуром Мартиросяном, Леоном Штурмом и Джонатаном Джаффе — соперниками, с которыми попадают в одну раздачу лишь лучшие.
Видео включило разбор ключевых моментов турнира, детальные объяснения решений и взгляд изнутри на те раздачи, которые аудитория в обычных условиях никогда бы не увидела. Мосбек не только показал ход игры, но и поделился личными впечатлениями и комментариями о динамике стола. В ролик также вошла его «кулерная» вылетная раздача, ставшая одним из самых эмоциональных моментов сюжета.
Простой и честный розыгрыш: как пользователи становились участниками
За сутки до премьеры CoinPoker и Мосбек организовали акцию, в рамках которой разыгрывали $5 000 среди зрителей, успевших подписаться на канал. Условия были максимально прозрачными: действия требовалось всего одно — нажать кнопку «Подписаться» за сутки до запуска.
В розыгрыше участвовали 200 билетов CoinMasters номиналом по $25, что давало победителям шанс попасть в турнир с гарантией $10 000. Все победители определялись посредством случайной выборки, а тикеты начислялись напрямую на их CoinPoker-аккаунты. Отсутствие скрытых условий и полного контроля случайности сделало акцию привлекательной как для новых пользователей, так и для постоянных поклонников платформы.
Почему важно подписаться заранее: выгоды для будущих зрителей
Хотя розыгрыш уже завершен, запуск канала ясно продемонстрировал, что это был лишь первый шаг. Канал Мосбека обещает стать регулярным источником аналитики с турниров высоких ставок, образовательных разборов и редких инсайтов, которые могут быть полезны игрокам любого уровня. Поскольку Марио многие годы является частью топовой профессиональной сцены, его контент представляет реальную практическую ценность.
Не менее важно и то, что CoinPoker последовательно внедряет новые активности и промо-кампании. Если ранние подписчики уже получили возможность выиграть билеты CoinMasters, то будущие подписчики также смогут претендовать на новые розыгрыши и бонусы. Чтобы не упускать таких возможностей, достаточно подписаться на канал заранее и следить за обновлениями — это всего один шаг, который легко может превратиться в выгодное участие в следующей акции.
The long-running question about whether another cryptocurrency can truly match what Bitcoin represents has resurfaced, and Ripple’s Chief Technology Officer David Schwartz has stepped forward to offer his opinion.
His comments were based on an argument claiming that Bitcoin’s properties could be copied by simply recreating its code. This, in turn, was based on comments regarding a debate between Binance founder Changpeng Zhao and Bitcoin critic Peter Schiff.
Inside The Zhao-Schiff Debate On Bitcoin’s Value
During their discussion at the Binance Blockchain Week, Schiff stated that a token backed by gold is grounded in physical utility because the token merely represents ownership of a scarce commodity used by industries across the world. He contrasted this with Bitcoin, which he claimed derives its value from faith and has no practical use.
Zhao countered by pointing out that even physical gold is difficult to divide or verify without additional processes, noting that he once received a gold bar as a gift but could not break it or confirm its purity without specialized tools. He contrasted this directly with Bitcoin, which can be transferred and verified instantly through the blockchain.
Again, Schiff responded by insisting that Bitcoin remains worthless to him because you can’t do anything with it, while gold carries intrinsic industrial demand. Zhao pushed back by highlighting that Bitcoin’s utility is tied to its transparent network, fixed supply, and verifiable ownership. He argued that unlike gold, whose total global reserves are uncertain, Bitcoin offers perfect clarity about supply and movement.
The debate eventually escalated into a broader argument over value, with Schiff insisting Bitcoin has only speculative worth, while Zhao maintained that its network and transparency serve as the foundation for its trillion-dollar market capitalization.
Comment Raises Question: Can Bitcoin Be Replicated?
Following the debate, a viewer commented that Bitcoin’s uniqueness is overstated because someone could simply replicate it. The comment noted, “How long would it take to replicate Bitcoin? Create a new one, exactly the same. How much would it cost?”
It was this claim, rooted in Schiff’s argument that Bitcoin lacks intrinsic qualities, that led to David Schwartz entering the conversation.
Schwartz responded with a rhetorical question that cuts through the idea entirely. He asked how the new Bitcoin could be new and exactly the same as the original one. He continued, “And how would the existence of replicas of Bitcoin affect Bitcoin?”
His point echoed Zhao’s argument about verifiability. A replica may copy Bitcoin’s code, but it cannot copy the network of users, miners, institutions, and real-time validation that give Bitcoin its identity.
The existence of another chain does not dilute Bitcoin’s legitimacy any more than counterfeit gold reduces the value of real gold when proper verification exists. It also goes back to the comment by Changpeng Zhao that Bitcoin can be easily verified in multiple ways, unlike gold.
Featured image from Unsplash, chart from TradingView
The Bitcoin price continues its descent deep into red territory, as investors increasingly tread the capitulation path. Interestingly, a recent on-chain analysis has been carried out, which dives into the underlying factors that typically control Bitcoin’s December price action.
Coinbase Premium Suddenly Flips Into Negative Territory: Why This Is Important
In a QuickTake post on the CryptoQuant platform, crypto education institution XWIN Research Japan reported that the Coinbase Premium Index metric has recently seen a sharp nosedive. For context, this metric measures the price difference between Bitcoin on the Coinbase (USD) market and Bitcoin on other major global exchanges (such as Binance), or the USDT market. By doing so, it reflects the buying or selling biases of US investors and helps derive insights regarding their behavior.
According to the crypto research institute, the decline started around the late period of November, into early December. Because this decline correlates with an also sharp fall in the Bitcoin price, the apparent sentiment shift among investors from the US appears to be the source of the bearish pressure seen early in the month.
Interestingly, there are historical events that parallel the aforementioned scenario. Typically, December witnesses weaker readings from the Premium when compared to its performance throughout the year. The readings are often near or below zero “largely due to year-end rebalancing and tax-loss harvesting by US institutions and individuals,” XWIN Research highlights.
However, there have been slight deviations from this recurrent pattern. In 2018 and 2022, the Premium saw deep dives into negative zones, as the market was under significant stress in these periods. On another hand, 2020 and 2023 saw positive readings from the Premium, positively correlating with the ongoing bull-market momentum at the time.
‘December 2025 Appears To Be Unique’ — Research Group
XWIN Research Japan, however, made it worthy of note that this year’s scenario has its own “unique twist.” Notably, although the Coinbase Premium began in December with a negative, it has refused to maintain this state. Instead, the analytics platform reports that there was an almost immediate rebound not just into neutral levels, but back into positive territory.
Because this sharp reversal took place within just a few days, it becomes apparent that the Bitcoin market may have seen the last strengths of extant bearish pressure. Interestingly, historical data reveal that such moves as the market has seen often precede price stabilization, or even short-term recoveries. Thus, if history is anything to go by, the Bitcoin price could be close to a local bottom, after which its recovery might follow.
Ultimately, XWIN Research points out that the stabilization, or sustained downturn, of the Bitcoin price depends mostly on “upcoming US capital flows, derivatives positioning, and premium trends.” At press time, Bitcoin holds a valuation of $89,321, with no significant movement since the past day.
American multinational financial services company Western Union has unveiled a stablecoin strategy to expand its digital business and cross-border remittances. In particular, the money transfer firm is looking to launch a stablecoin card service targeted at nations with high inflation rates.
Western Union Stablecoin Agenda
Matthew Cagwin, chief financial officer and executive vice-president at Western Union, has shared various ideas the financial service giant holds around the adoption and potential offerings of stablecoins. These revelations were made in a presentation at the UBS Global Technology and AI conference on December 2, 2025.
Notably, Cagwin acknowledges that Western Union views stablecoins as a significant opportunity to free the company’s cash flow for other purposes. Due to the instantaneous and predictable nature of these cryptocurrencies, the executive outlines a business model in which Western Union can settle transactions immediately, without needing to hold hundreds of millions of dollars for liquidity, as is typical in the traditional financial system.
Notably, Western Union also aims to offer a “stable card”, modeled on the prepaid card in the US but targeted at users in nations with high inflationary pressure. Cagwin explained the need for this product, referencing Argentina as an example.
The CFO said:
… If you’re — I have a big workforce in Argentina. Can you imagine living in a country where last year, your inflation was 250%, 300%. We gave our employees 4 raises last year because if you didn’t, they made — they couldn’t afford their bills. So imagine a world where your family in the U.S. is sending you $500 home, but by the time you spend it in the next month, it’s only worth $300. So we can see a good utility for our stable card there,…
Cagwin also explains Western Union’s ongoing efforts to establish a digital asset network (DAN). Notably, the financial services firm has established partnerships with four service providers with the intent to offer on-ramp and off-ramp services to users from H1 2026, using the yellow wallets and agents, such as a big box store or check casher.
Western Union Eyes Stablecoin Launch
In addition to the stable card, Cagwin states that Western Union plans to launch a stablecoin, which they believe will scale easily, considering their present business network. In opting against onboarding existing stablecoins, Cagwin explains the firm’s goal of maintaining end-to-end of the proposed coin’s use, economics, and distribution operation.
At press time, the total crypto market cap is valued at $3.05 trillion, after a 0.37% gain in the last day. Meanwhile, total stablecoins are valued at $317.63 billion, representing 10% of circulating digital assets.
The cryptocurrency market has had a year filled with ups and downs, with most large-cap digital assets turning in mixed performances in 2025. After a rough start to the year, things started to look up for the price of Bitcoin in the second and third quarters, as it set multiple all-time highs across the six-month period.
However, the flagship cryptocurrency has largely struggled in the final months of 2025, looking set to end the year in the red. Interestingly, the latest on-chain data and historical patterns suggest that the price of Bitcoin might be set for a fairly stronger yearly close than expected.
No Negative Days Left In 2025, But 2026 Could Feature A Deep Correction
On Saturday, December 6, Alphractal CEO and founder Joao Wedson took to the X platform to share what to expect from the Bitcoin price in the last days of 2025. According to the on-chain expert, the market leader is likely to close the year in a sideways price range.
The relevant metric here is the Yearly Accumulated Negative Days, which tracks market resilience by measuring the number of days in a year where an asset’s daily price candlestick closed in the red.
According to historical data and patterns, Bitcoin typically witnesses an average of 170 days of negative price movement in a year. This mean figure or level provides insight into the stress threshold for the world’s largest cryptocurrency by market cap.
When the number of negative days is approaching or exceeds this threshold of 170 days, as Bitcoin already has in 2025, the selling pressure in the market tends to wane as fatigue sets in among the bears. Wedson revealed that the premier cryptocurrency has already accumulated 171 negative days so far in 2025.
The on-chain expert noted that exceeding this threshold “strongly suggests” that the price of Bitcoin might not witness any more negative days in the final few weeks of 2025. Wedson said that if a deeper correction is imminent for the market leader, it will most likely happen in the next year.
However, as the Alphractal founder highlighted, the Bitcoin price is more likely to end the year within a consolidation range. Adding further credence to this postulation is the lack of market demand, as seen with reduced capital influx into spot Bitcoin exchange-traded funds.
Bitcoin Price At A Glance
As of this writing, the price of BTC stands at around $89,397, reflecting a mere 0.3% drop in the past 24 hours.
According to the latest on-chain data, BitMine viewed the latest market downturn as an opportunity to further increase its exposure to Ethereum, the second-largest cryptocurrency by market cap. In two separate fresh buys, the Ethereum treasury firm expanded its holdings by over $199 million worth of Ether tokens.
BitMine Now Holds 3.08% Of Total Ether Supply
In a recent post on the social media platform X, blockchain data firm Lookonchain revealed that BitMine acquired $199 million worth of Ethereum in the past two days. This fresh round of accumulation included two separate buys; 41,946 ETH equivalent to $130.78 million on Friday, December 5 and 22,676 ETH worth $68.67 million on Saturday, December 6.
This latest acquisition spree brings the Ethereum treasury firm’s holdings to around $11.3 billion, solidifying its position as the world’s largest corporate Ether holder. With its continued accumulation of the largest altcoin over the past few months, BitMine now holds about 3.08% of the total Ether supply.
It is worth noting that BitMine’s aggression in the market comes while the hype around digital asset treasuries (DATs) have died down. While crypto asset acquisitions have slowed down among treasury companies, shareholders are losing significant amounts in value—as the market downturn continues to also affect crypto-related stocks.
However, BitMine’s general performance has been quite impressive, with the firm announcing its intention to pay crypto’s first-ever dividend to shareholders. What’s interesting is that the Ethereum treasury firm sits on a cash reserve of nearly $900 million, which could go into additional ETH purchases.
BitMine Buys The Dip While Ethereum Whales Take Profit
BitMine’s continued accumulation of Ether is a proof of its faith in the token’s long-term promise. However, this aggressive purchasing activity has somewhat been opposite to what the market trend is suggesting.
The Ethereum price is hovering around the $3,000 mark after a mild correction from its recent local high around $3,200. According to on-chain data, mid-sized whales (holding between 1,000 and 10,000 ETH) have kept significant selling pressure on the market.
Meanwhile, Alphractal also revealed that the large whales (with over 10,000 ETH) have remained much more in a neutral and calm state, showing only light distribution.
Whales are typically regarded as some of the most influential investors in the market, as their moves often give insights on a coin’s trajectory. While BitMine counts as a whale—due to its significant holdings, it is interesting to see the firm move in the opposite direction of other relevant market participants.
The narrative around XRP has definitively moved past the era of pure retail speculation. While the global financial system is accelerating its transition to real-time settlement, XRP is emerging as a contender for enterprise-level treasury flows. As Ripple’s institutional network continues to expand, the altcoin is stepping into a role where digital assets can enhance liquidity management and power the next generation of global value transfer.
The bearish view of XRP is clouding the bigger transformation happening behind the scenes. Analyst Xfinancebull has mentioned on X that XRP is embedding itself into the financial engines where global treasury systems teams move trillions. With the GTreasury acquisition, Ripple gains access to the operational layer where $12.5 trillion in enterprise liquidity flows.
This is about the altcoin becoming a native rail inside the financial command centers of over 1,000 multinational giants where trillions move. Treasury teams move real money, not just $100 payments, but payroll, supply chain financing, and liquidity management across continents.
The XRP niche is that it moves trillions fast, 24/7, across borders. Meanwhile, Ripple now controls the infrastructure platform that interacts with BNY Mellon to move trillions and automates finance at scale.
According to Xfinancebull, the token goes from a speculative asset to invisible plumbing. This shift doesn’t make the front-page headlines, but it moves everything behind them. Most analysts won’t notice that this has unlocked the token to become a standard settlement rail in the GTreasury automation stack, making its utility broader, invisible, and massive.
Founder of Lux Lions NFT and host of the crypto Blitz YouTube show, RipBullWinkle, stated that the Federal Reserve has officially halted its Quantitative Tightening (QT) measures, ending the two-year liquidity drain that weighed down the entire crypto sector.
Vanguard, the world’s second-largest asset manager with $11 trillion in AUM, has reversed course and will now allow clients to have access to the regulated crypto ETFs. This single move clears the path for trillions in passive capital, a macro environment of liquidity, compliance, and global settlement that XRP is engineered for.
How XRP Defies The Market Slump With A Rare Positive Performance
While the crypto market has been struggling to find its footing, an observer and researcher of the current tech shift, SMQKE, has noted that WisdomTree data shows that XRP is the only major cryptocurrency posting positive year-to-date returns in 2025. On a year-to-date basis, where the broader markets were pulling back, the altcoin has stood out as the lone performer, holding onto a modest +4% gain year-to-date.
In a challenging year for most large-cap digital assets, it has emerged as the top-tier asset with a positive year-to-date performance. Even after experiencing drawdowns in line with the broader market during Q4, XRP has demonstrated remarkable relative resilience and remains up +4% YTD and +12% over the past 12 months.
A crypto analyst has predicted another devastating Bitcoin price crash that could see the leading cryptocurrency slide back below $85,000. With its weak performance over the past few months and price action showing signs of exhaustion, the analyst has predicted that the next major support level lies more than 33% below all-time highs.
Analyst Breaks Down Chart Signaling Bitcoin Price Crash
TradingView crypto expert ‘EliteGoldAnalysis’ has released a fresh chart study on Bitcoin’s next selling move, warning that the cryptocurrency’s downtrend may not be over yet. The analyst’s breakdown highlights a key support level he believes Bitcoin could crash to if its current downward momentum persists.
EliteGoldAnalysis outlines a price structure on the chart that begins with a weak high, a technical condition that often reflects a liquidity grab before a reversal. The appearance of a weak high near the top of Bitcoin’s most recent rally indicates that buyers may have been swept out before the momentum fully shifted. This pattern is accompanied by a steadily forming lower high, hinting at a developing bearish structure.
From his perspective, the analyst explains that a short bias becomes relevant only after a clear confirmation of a bearish trend. Based on the Bitcoin price chart, such confirmation could include a break of minor support beneath the weak high, followed by a retest of that level. EliteGoldAnalysis also noted that a bearish rejection through wick actions or a strong bearish close would strengthen the case for a temporary Bitcoin price crash.
While the analyst’s breakdown is just an interpretation of the chart rather than a trading call, Bitcoin’s price structure still hints at a possible retracement amid strengthening sell-side pressure.
How Low Bitcoin Price Could Decline
In his TradingView chart, EliteGoldAnalysis outlined critical zones that could dictate Bitcoin’s next bearish moves. The first region to watch is the potential “target level” marked in the purple zone above $85,000. The analyst views this level as a demand or imbalance area. Should Bitcoin reach and hold this target, it may act as the first checkpoint before the market decides whether to correct downwards or push higher.
Just beneath the $85,000 region lies a “strong support level” highlighted in blue at $84,000 on the chart. EliteGoldAnalysis predicts that Bitcoin could decline to as low as this $84,000 support area. The analyst suggests that this level is the final retracement target, potentially representing a significant liquidity pool that could attract buyers if the price declines.
A decisive drop toward this level would reflect a more than 6% decline from current levels above $89,000. Such a move would also mark the completion of the downside move implied by the chart structure. Over the past 24 hours, the price of Bitcoin has fallen roughly 3%, meaning a crash to $84,000 would further prolong the ongoing downtrend.
Featured image from Unsplash, chart from TradingView
The Bitcoin market structure is believed to have undergone a massive shift since the significant price downturn seen on October 10, 2025. While the premier cryptocurrency has been on something resembling a recovery path since the market bloodbath, some sectors believe that the bear season has already kicked off.
With BTC sitting beneath its opening price of 2025, it is becoming increasingly difficult to make a bullish case for the world’s largest cryptocurrency. Moreover, an interesting data point about a relevant class of Bitcoin investors has emerged, further adding credence to the beginning of a possible bear market.
Are Bitcoin Treasury Firms Offloading Their Coins?
In a new post on X, CryptoQuant’s Head of Research, Julio Moreno, shared an on-chain insight to support the hypothesis that the Bitcoin bear market has started. This conclusion is based on the Balance Growth of an investor group known as the “dolphins.”
Dolphins refer to a group of crypto investors holding substantial amounts of a coin, placing them between small investors (shrimps) and the largest investors (whales). Specifically, Moreno described dolphins as wallet addresses with significant BTC holdings between 100 – 1,000 coins.
According to the latest data from CryptoQuant, the growth in the Dolphins’ BTC holdings has slowed down in the past year and appears to be in a downward trend. Moreno believes that this negative change points to the emergence of a Bitcoin bear market.
Moreno revealed that these Dolphin addresses had increased year-over-year by roughly 965,000 BTC when the BTC price hit its current all-time high around $125,000. Now that the BTC price is nearly 30% below its record high, the Bitcoin Dolphins’ balance stands at around 694,000 coins.
Moreno wrote on X:
This address cohort includes ETFs and Treasury companies, which have also stopped buying.
More interestingly, the CryptoQuant Head of Research revealed that this investor group consists of ETF issuers and Treasury companies, which have stopped purchasing Bitcoin. According to data from SoSoValue, the US-based Bitcoin exchange-traded funds have posted net outflows in five out of the last six weeks.
Meanwhile, BTC and crypto treasury companies have struggled in the past few months, with retail investors losing tens of billions to the hype. While there have been rarely reports of crypto treasury sell-offs, this decline in these Dolphins’ holdings tells an entirely different story.
Bitcoin Price At A Glance
As of this writing, the price of BTC stands at around $89,151, reflecting an over 3% decline in the past 24 hours.
According to remarks made at the Founders Summit, Fidelity’s chief executive Abigail Johnson offered a rare look at how the firm moved from curiosity to a full crypto business and why she keeps a personal stake in Bitcoin. The account ties early, small bets to later services now offered to advisors and clients.
Early Interest Turned Practical
Around 2013, a small group inside Fidelity began meeting to learn what Bitcoin might mean for the firm. They mapped out 52 possible uses. Most ideas did not survive testing. One early result — accepting Bitcoin donations for charity — gave the team credibility outside the company and opened doors for deeper work.
That early credibility made it easier for the firm to test bigger ideas without waiting for orders from the top.
A Bold Mining Bet Paid Off
Johnson pushed for a $200,000 purchase of Antminer hardware at a time many inside opposed the move. Reports say that mining effort became “probably the single highest IRR business” Fidelity has had.
The decision put staff into Bitcoin’s technical layers, giving them real experience with wallets, security, and the plumbing of the network long before many rivals caught up.
Company Moves Into Custody
Based on reports, demand from financial advisors drove Fidelity toward custody services. Advisors wanted secure ways to help clients hold and pass on Bitcoin, and Fidelity responded by building custody, custody-adjacent products, and support across asset management and research.
Johnson told the audience she owns Bitcoin personally and described it as a core digital asset that could play a role in people’s savings plans. She calls it crypto’s “gold standard.”
Exchange Supply Drops As Accumulation Continues
Market data referenced in the session showed Bitcoin trading above $89,000 while balances on centralized exchanges fell to roughly 1.8 million BTC — a level not seen since 2017, according to aggregated CryptoQuant and Glassnode figures cited by BRN Research.
Realized-cap growth stayed positive on a monthly basis, which analysts interpret as fresh capital entering the market even when price moves stay contained.
Shark Wallets And Network Growth For Ethereum
Reports also pointed to Ethereum strength. ETH climbed past $3,200 as so-called shark wallets holding between 1,000 and 10,000 ETH resumed accumulation.
Daily new addresses briefly neared 190,000 following the Fusaka upgrade, a spike that analysts say often lines up with stronger demand for ETH.
Market Signals And What’s Missing
Analysts quoted in the briefing noted that supply leaving exchanges and steady accumulation point to longer-term holders taking control. What the market lacks, they said, is a decisive push into the roughly $96K to $106K band that would signal a broader breakout. For now, accumulation continues while prices trade in a tighter range.
Based on reports from the conference, Fidelity’s crypto path reads like a slow build: small internal experiments grew into real operations, and a handful of early bets — including a $200,000 mining play — gave the firm practical know-how.
Combined with current on-chain signs of accumulation, the picture suggests established players and patient holders are shaping market supply even as price momentum waits for a clearer trigger.
Featured image from Pexels, chart from TradingView
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