By Omkar Godbole (All times ET unless indicated otherwise)
The week begins positively with bitcoin rising over 1% to $89,800, nearing the upper limit of the recent week-long range between $85,000 and $90,000. Resistance exists between $92,000 and $95,000, a significant barrier for bullish traders, as noted by BRN.
This week’s U.S. economic calendar is minimal yet significant, featuring third-quarter U.S. gross domestic product (GDP) and consumer confidence reports on Tuesday, followed by jobless claims on Wednesday.
These statistics could sway investors’ risk appetite, although holiday festivities may result in reduced market liquidity, causing volatile price shifts. On Friday, BTC and ETH options worth $27 billion are due to expire on Deribit, with bullish positioning likely leading up to the event.
Despite the price rebound, some analysts express caution.
“The short-term positive momentum might be misleading, and the larger narrative of disappointment compared to early-year expectations should not be ignored,” stated Alex Kuptsikevich, chief market analyst at FxPro, in an email.
“Bitcoin is 30% below its peak and trading lower than it was at the beginning of 2025. Attempts to negate YTD momentum are of little comfort in this context,” he added. The cryptocurrency commenced the year near $93,400, according to CoinDesk data.
In the broader market, tokens such as HYPE, KAS, SKY, and NIGHT have appreciated by 4% to 6% in the past 24 hours, while major altcoins like XRP, ETH, and SOL are showing mixed performance. The CoinDesk 20 and CoinDesk 80 indexes remain relatively unchanged.
Uniswap’s UNI token has dipped over 1% as voting initiates on a proposal to implement the protocol fee switch, aiming to convert the token into a value-accruing asset. The voting appears to be heavily in favor of the protocol.
In traditional markets, gold reached a record high of $4,420 as long-term bond yields in Japan continued to climb, underscoring fiscal challenges. The dollar index experienced a slight decline to $98.48, reversing Friday’s gain. Stay vigilant!
Read more: For analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today
What to Watch
For a more detailed list of events this week, check out CoinDesk’s “Crypto Week Ahead”.
- Crypto
- Macro
- Dec.22, 8:30 a.m.: Canada Nov. PPI YoY (Prev. 6%), MoM Est. 0.3%.
- Earnings (Estimates based on FactSet data)
Token Events
For a more comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.
- Governance votes & calls
- BNB Chain is voting to reduce the number of consecutive blocks a validator produces from 16 to 8. This change aims to reduce large chain reorganizations and enhance network stability. Voting concludes on Dec. 22.
- Axie Infinity is voting to stake the Community Treasury’s idle assets to accumulate protocol rewards. Voting ends on Dec. 22.
- Moonwell DAO is voting to transition the rETH oracle on Base and OP Mainnet to a stable exchange-rate feed and utilize 2.6 ETH from reserves to repay bad debt. Voting finishes on Dec. 22.
- CoW DAO is voting to renew its grants program for 2026. This proposal seeks to enhance capital efficiency through quarterly fund releases and emphasizes developer onboarding, ecosystem alignment, and innovative protocol applications. Voting concludes on Dec. 22.
- Unlocks
- Token Launches
Conferences
For a more extensive list of events this week, see CoinDesk’s “Crypto Week Ahead”.
Market Movements
- BTC is up 1.73% from 4 p.m. ET Sunday at $89,806.03 (24hrs: 1.39%)
- ETH is up 1.79% at $3,043.84 (24hrs: 1.62%)
- CoinDesk 20 is up 1.31% at 2,773.68 (24hrs: +0.76%)
- Ether CESR Composite Staking Rate is down 1 bps at 2.809%
- BTC funding rate is at 0.0082% (9.0173% annualized) on Binance
- 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
- Nikkei 225 closed up 1.81% at 50,402.39
- Hang Seng closed up 0.43% at 25,801.77
- FTSE is down 0.37% at 9,860.97
- Euro Stoxx 50 is down 0.17% at 5,750.28
- DJIA closed on Friday up 0.38% at 48,134.89
- S&P 500 closed up 0.88% at 6,834.50
- Nasdaq Composite closed up 1.31% at 23,307.62
- S&P/TSX Composite closed up 1.00% at 31,755.77
- S&P 40 Latin America closed down 0.19% at 3,087.72
- U.S. 10-Year Treasury rate is up 1.8 bps at 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 Index futures are up 0.09% at 48,509.00
Bitcoin Stats
- BTC Dominance: 59.77% (0.27%)
- Ether to bitcoin ratio: 0.03388 (unchanged)
- Hashrate (seven-day moving average): 1,045 EH/s
- Hashprice (spot): $38.24
- Total Fees: 1.88 BTC / $165,900
- CME Futures Open Interest: 119,605 BTC
- BTC priced in gold: 21.3 oz
- BTC vs gold market cap: 6.01%
Technical Analysis
- The chart displays bitcoin’s hourly price fluctuations in a candlestick format.
- BTC has exited a mini-descending channel, confirming seller exhaustion and paving the way for further gains ahead.
- A decisive break above the inclined trendline from Nov. 21 lows would solidify the immediate bullish outlook, revealing the supply zone of $92,000-$95,000.
Crypto Equities
- Coinbase Global (COIN): closed on Friday at $245.12 (+2.47%), pre-market up 1.87% to $249.71
- Circle Internet (CRCL): closed at $86.13 (+6.35%), +1.73% at $87.66
- Galaxy Digital (GLXY): closed at $24 (+6.62%), +3.37% at $24.81
- Bullish (BLSH): closed at $44.60 (+4.01%), +1.84% at $45.42
- MARA Holdings (MARA): closed at $10.18 (+5.06%), +1.67% at $10.35
- Riot Platforms (RIOT): closed at $14.5 (+8.37%), +1.86% at $14.77
- Core Scientific (CORZ): closed at $15.6 (+7.14%), +1.79% at $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 Treasury 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 Flows
Spot BTC ETFs
- Daily net flows: -$158.3 million
- Cumulative net flows: $57.39 billion
- Total BTC holdings ~1.31 million
Spot ETH ETFs
- Daily net flows: -$75.9 million
- Cumulative net flows: $12.46 billion
- Total ETH holdings ~6.09 million
Source: Farside Investors
