By Omkar Godbole (All times ET unless otherwise noted)
The week starts positively with Bitcoin up more than 1% to $89,800, approaching the upper end of the recent one-week range between $85,000 and $90,000. The overhead bid of between $92,000 and $95,000 remains a major hurdle for the bulls to overcome, according to BRN.
This week’s U.S. economic calendar is light but relevant, with third-quarter U.S. gross domestic product (GDP) and consumer confidence reports released on Tuesday, followed by jobless claims on Wednesday.
These figures could influence investors’ risk sentiment, although the year-end holidays could keep the market liquidity low, leading to erratic price movements. BTC and ETH options worth $27 billion are set to expire on Deribit on Friday, with bullish positioning ahead of the event.
Some analysts remain cautious despite the rebound in prices.
“Short-term positive momentum can be misleading, and one should not overlook the broader picture of disappointment with hopes from earlier in the year,” Alex Kuptsikevich, chief market analyst at FxPro, said in an email.
“Bitcoin is 30% below its peak and trading lower than at the start of 2025. Attempts to bring momentum back to zero since the start of the year are of little consolation in this context,” he added. The largest cryptocurrency started the year around $93,400, according to CoinDesk data.
In the broader market, tokens like HYPE, KAS, SKY, and NIGHT gained 4-6% in 24 hours, while major altcoins like XRP, ETH, and SOL are trading mixed. The CoinDesk 20 and CoinDesk 80 indexes have changed little.
Uniswap’s UNI token is down more than 1% as voting begins on a proposal to turn on the protocol fee switch and transform the token into a value-generating instrument. The votes in favor of the protocol were massive.
In traditional markets, gold hit a record high of $4,420 as yields on longer-term bonds in Japan continued to rise, underscoring fiscal concerns. The dollar index fell slightly to $98.48, erasing Friday’s gain. Stay vigilant!
Read more: For analysis of current altcoin and derivatives activity, see Crypto Markets Today
What to watch
For a more comprehensive list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
- Cryptocurrency
- Macro
- December 22, 8:30 a.m.: Canada Nov. PPI YoY (previous 6%), MoM Est. 0.3%.
- Earnings (Estimates based on FactSet data)
Token Events
For a more comprehensive list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
- Votes and calls on governance
- BNB Chain votes to reduce the number of consecutive blocks produced by a validator from 16 to 8. This adjustment aims to prevent large-scale reorganizations and prioritize network stability. Voting closes on December 22.
- Axie Infinity votes to stake unused Community Treasury assets to earn cumulative protocol rewards. Voting closes on December 22.
- Moonwell DAO votes to move the rETH oracle on Base and OP Mainnet to a stable exchange rate feed and use 2.6 ETH of reserves to pay off bad debts. Voting closes on December 22.
- CoW DAO votes to renew its grant program for 2026. The proposal aims to improve capital efficiency via quarterly fund releases and focuses on developer onboarding, ecosystem alignment, and new protocol applications. Voting closes on December 22.
- Unlocks
- Token Launches
Conferences
For a more comprehensive list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
Market movements
- BTC is up 1.73% from 4 p.m. ET Sunday at $89,806.03 (24 hours: 1.39%)
- ETH is up 1.79% at $3,043.84 (24 hours: 1.62%)
- CoinDesk 20 is up 1.31% at 2,773.68 (24h: +0.76%)
- Ether CESR composite staking rate down 1bp to 2.809%
- BTC funding rate is 0.0082% (9.0173% annualized) on Binance
- The DXY is down 0.12% at 98.48
- Gold futures are up 1.24% at $4,441.80
- Silver futures are up 2.22% at $68.99
- The Nikkei 225 closed up 1.81% at 50,402.39
- Hang Seng closed 0.43% higher at 25,801.77
- The FTSE is down 0.37% at 9,860.97
- The Euro Stoxx 50 is down 0.17% at 5,750.28
- DJIA closed Friday up 0.38% at 48,134.89
- The S&P 500 closed up 0.88% at 6,834.50
- The Nasdaq Composite closed up 1.31% at 23,307.62
- The S&P/TSX Composite Index closed up 1.00% at 31,755.77
- The S&P 40 Latin America closed down 0.19% at 3,087.72
- The 10-year US Treasury yield is up 1.8 bps to 4.169%
- E-mini S&P 500 futures are up 0.36% at 6,912.00
- E-mini Nasdaq-100 futures are up 0.53% at 25,709.75
- E-mini Dow Jones Industrial Average futures are up 0.09% at 48,509.00
Bitcoin Statistics
- BTC dominance: 59.77% (0.27%)
- Ether/Bitcoin ratio: 0.03388 (unchanged)
- Hashrate (seven-day moving average): 1,045 EH/s
- Hash price (spot): $38.24
- Total fees: 1.88 BTC / $165,900
- Open Interest on CME Futures: 119,605 BTC
- BTC valued in gold: 21.3 ounces
- BTC vs. gold market capitalization: 6.01%
Technical analysis
- The chart shows hourly fluctuations in the price of Bitcoin in candlestick form.
- BTC broke out of a mini descending channel, confirming seller exhaustion and opening the door for more gains to come.
- A clear break above the ascending trendline from the November 21 lows would solidify the immediate bullish outlook, exposing the $92,000 to $95,000 supply zone.
Crypto Stocks
- Coinbase Global (COIN): Closed Friday at $245.12 (+2.47%), up 1.87% premarket to $249.71
- Circle Internet (CRCL): closed at $86.13 (+6.35%), +1.73% to $87.66
- Galaxy Digital (GLXY): closed at $24 (+6.62%), +3.37% at $24.81
- Bull (BLSH): closed at $44.60 (+4.01%), +1.84% at $45.42
- MARA Holdings (MARA): closed at $10.18 (+5.06%), +1.67% to $10.35
- Riot Platforms (RIOT): close at $14.5 (+8.37%), +1.86% to $14.77
- Core Scientific (CORZ): closed at $15.6 (+7.14%), +1.79% to $15.88
- CleanSpark (CLSK): closed at $12.03 (+7.41%), +2.83% at $12.37
- CoinShares Valkyrie Bitcoin Miners ETF (WGMI): Closed at $41.1 (+9.63%), +4.33% at $42.88
- Exodus Movement (EXOD): closed at $15.51 (+1.97%), -0.45% at $15.44
Crypto Cash Companies
- Strategy (MSTR): closed at $164.82 (+4.16%), +2.32% at $168.65
- Semler Scientific (SMLR): closed at $17.93 (+4.79%), +3.07% at $18.48.
- SharpLink Gaming (SBET): closed at $9.81 (+8.76%), +2.45% at $10.05
- Upexi (UPXI): closed at $2.08 (+10.64%), +1.92% at $2.12
- Lite Strategy (LITS): closed at $1.43 (+5.93%), +2.1% at $1.46
ETF Feed
Spot BTC ETF
- Daily net flows: -$158.3 million
- Cumulative net flows: $57.39 billion
- Total BTC holdings ~1.31 million
ETH Spot ETF
- Daily net flows: -$75.9 million
- Cumulative net flows: $12.46 billion
- Total ETH holdings ~6.09 million
Source: Farside Investors
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