By Omkar Godbole (All times ET unless otherwise noted)
Bitcoin rebounded to near $90,000, reversing Sunday’s decline to trade virtually unchanged over 24 hours. The same can be said for the broader market, with the CoinDesk 20 (CD20) and CoinDesk 80 (CD80) indices changing little. The only notable gainer is the RAIN token, which added over 6%.
BTC’s rally is consistent with 0.5% gains in futures linked to the S&P 500 and Nasdaq, as well as continued dollar weakness.
“Price action is compressed. Volatility is there, but conviction is not. This remains a market waiting for a catalyst,” Timothy Misir, head of research at BRN, said in an email.
There are many catalysts this week: U.S. retail sales, jobs data, inflation reports and the Fed’s slew of speakers will take center stage, influencing expectations for how quickly the central bank might ease interest rates next year. Additionally, the Bank of Japan is expected to raise rates by 25 basis points.
“Any upside surprise risks reinforcing the narrative of a ‘hawkish cut,’ while weaker data could reopen the door to risk assets through the end of the year. For crypto, macro sensitivity remains elevated until clarity emerges,” Misir noted.
Market sentiment has turned fearful, according to the Crypto Fear & Greed Index, sending pain trading higher. The market is also cleaner, with almost $300 million in leveraged bets cleared in 24 hours, mostly long bets, according to Coinglass. These factors support price increases.
However, bears also have good reason to feel emboldened. While the MOVE index, which represents the 30-day implied volatility of Treasuries, suggests renewed optimism or a resumption of turmoil in the bond market, market fades typically accompany increased volatility in Treasuries.
Coincidentally, Nasdaq technicals indicate the end of the rally from November, and the BTC options market continues to show a bias towards puts over multiple time frames.
Furthermore, the BTC hash rate, or the computing power dedicated to the blockchain, would have fallen by 8% to 1,200 EH/s. Nano Labs founder Kong Jianping linked the decline to the closure of mining farms in Xinjiang, China.
The U.S. Securities and Exchange Commission has published an Investor’s Guide to Portfolio and Custody, describing the risks of different custody models and best practices. He warned investors to assess whether depositors remortgage assets or commingle assets.
In traditional markets, gold extended gains while some analysts warned that the decline in the dollar index appeared limited. 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
- December 15, 5 a.m.: Aster AMA testnet L1 on Discord.
- December 15, 10 a.m.: Conflux (CFX) AMA on “AI Agents in Web3” on X Spaces.
- Macro
- December 15, 8:30 a.m.: November inflation rate in Canada. Title YoY Est. 2.3%, MoM Est. 0.1%. Core YoY (previous 2.9%), MoM (previous 0.6%).
- December 15, 9:30 a.m.: speech by Federal Reserve Governor Stephen I. Miran (“The Inflation Outlook”). Watch live.
- 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
- Streamr DAO votes to incentivize its CEO and CTO with performance-based token grants that are only issued if DATA’s price reaches specific milestones between $0.05 and $1.00. Voting closes on December 15.
- December 15: Linea, MetaMask and Consensys will participate in a 2025 end-of-year review.
- Unlocks
- December 15: to unlock 1.61% of its circulating supply worth $21.99 million.
- December 15: to unlock 5.07% of its circulating supply worth $13.87 million.
- Token Launches
Conferences
For a more comprehensive list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
Market movements
- BTC is down 0.46% from 4 p.m. ET Friday at $89,821.87 (24 hours: -0.07%)
- ETH is up 2.47% at $3,160.25 (24 hours: +1.65%)
- CoinDesk 20 is up 0.3% at 2,853.05 (24 hours: +0.24%)
- Ether CESR Composite Staking Rate Up 3 Basis Points to 2.81%
- BTC funding rate is -0.0017% (-1.8407% annualized) on Binance
- The DXY was little changed at 98.32
- Gold futures are up 1.16% at $4,378.70
- Silver futures are up 2.78% at $63.73
- The Nikkei 225 closed down 1.31% at 50,168.11
- Hang Seng closed 1.34% lower at 25,628.88
- The FTSE is up 0.83% at 9,729.49
- The Euro Stoxx 50 is up 0.6% at 5,754.91
- DJIA closed Friday down 0.50% at 48,458.05
- The S&P 500 closed down 1.07% at 6,827.41
- The Nasdaq Composite closed down 1.69% at 23,195.17
- The S&P/TSX Composite Index closed down 0.42% at 31,527.39
- The S&P 40 Latin America closed unchanged at 3,173.29
- The 10-year U.S. Treasury yield is down 2.6 basis points at 4.17%.
- E-mini S&P 500 futures are up 0.5% at 6,865.00
- E-mini Nasdaq-100 futures are up 0.5% at 25,338.50
- E-mini Dow Jones Industrial Average futures are up 0.47% at 49,090.00
Bitcoin Statistics
- BTC dominance: 59.13% (+0.13%)
- Ether-bitcoin ratio: 0.03516 (1.21%)
- Hashrate (seven-day moving average): 1,064 EH/s
- Hash price (spot): $38.35
- Total fees: 1.93 BTC / $172,697
- CME Futures Open Interest: 124,275 BTC
- BTC valued in gold: 20.6 ounces.
- Market capitalization BTC vs gold: 6.01%
Technical analysis
- The chart shows daily fluctuations in the price of Stellar Token (XLM) in candlestick form.
- Prices dipped below a sideways consolidation pattern, signaling a broader downtrend represented by the descending trendline.
- The breakdown shifted focus to April’s low of 20 cents.
Crypto Stocks
- Coinbase Global (COIN): Closed Friday at $267.46 (-0.58%), +0.41% to $268.56 in pre-market
- Circle (CRCL): closed at $83.47 (-5.76%), +0.97% to $84.28
- Galaxy Digital (GLXY): closed at $26.75 (-10.42%), +1.23% to $27.08
- Bull (BLSH): closed at $43.54 (-4.05%), -0.18% at $43.46
- MARA Holdings (MARA): closed at $11.52 (-2.7%), +0.52% to $11.58
- Riot Platforms (RIOT): close at $15.30 (-2.86%), +0.65% to $15.40
- Core Scientific (CORZ): closed at $16.53 (-5%), +0.42% to $16.60
- CleanSpark (CLSK): closed at $14.03 (-5.33%), unchanged in pre-market
- CoinShares Valkyrie Bitcoin Miners ETF (WGMI): Closed at $42.74 (-7.77%)
- Exodus Movement (EXOD): closed at $15.23 (-8.2%), +1.31% to $15.43
Crypto Cash Companies
- Strategy (MSTR): closed at $176.45 (-3.74%), +0.32% at $177.02
- Semler Scientific (SMLR): closed at $17.97 (-6.5%)
- SharpLink Gaming (SBET): closed at $10.51 (-8.85%), +1.71% to $10.69
- Upexi (UPXI): closed at $2.26 (-6.22%)
- Lite Strategy (LITS): closed at $1.71 (-5.52%)
ETF Feed
Spot BTC ETF
- Daily net flows: $49.1 million
- Cumulative net flows: $57.89 billion
- Total BTC holdings ~1.31 million
ETH Spot ETF
- Daily net flows: -$19.4 million
- Cumulative net flows: $13.11 billion
- Total ETH holdings ~6.32 million
Source: Farside Investors
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