By Omkar Godbole (All times Eastern unless otherwise noted)
Bitcoin A rebound to nearly $90,000 reversed Sunday’s losses, with trading largely unchanged over the 24 hours. The same was true for the broader market, with the CoinDesk 20 (CD20) and CoinDesk 80 (CD80) indexes seeing little change. The only noteworthy winner is the RAIN token, which is up more than 6%.
Bitcoin’s recovery coincided with a 0.5% rise in S&P 500 and Nasdaq futures as well as continued weakness in the U.S. dollar.
“Price action is compressed. Volatility is there, but conviction is not. This remains a market waiting for a catalyst,” Timothy Misir, BRN’s director of research, said in an email.
There are plenty of catalysts this week: U.S. retail sales, jobs data, an inflation report and a number of Fed speakers will take center stage, shaping expectations for how quickly the central bank will cut interest rates next year. In addition, the Bank of Japan is expected to raise interest rates by 25 basis points.
“Any upside surprises are likely to reinforce the ‘hawkish rate cut’ narrative, while weak data could reopen the door for risk assets at year-end. For crypto, macro sensitivities remain high until the situation becomes clearer,” Misiel noted.
According to the Crypto Fear & Greed Index, market sentiment turned fearful, leading to pain trading higher. The market was also cleaner, with nearly $300 million in leveraged bets wiped out in 24 hours, mostly long, according to Coinglass. These factors support price increases.
However, bears also have reason to feel bold. While the MOVE index, which represents Treasury 30-day implied volatility, could point to a resurgence in bullish sentiment or increased bond market volatility, market downturns are typically accompanied by increased Treasury volatility.
Coincidentally, Nasdaq technicals suggest that the recovery rally from November is coming to an end, while the BTC options market continues to show a preference for puts across multiple time frames.
In other news, BTC’s hash rate, or the computer power dedicated to the blockchain, reportedly fell by 8% to 1,200 EH/s. Nano Labs founder Kong Jianping linked the decline to the closure of mines in Xinjiang, China.
The SEC has released a guide for investors in wallets and custody outlining the risks of different custody models and best practices. It warns investors to evaluate whether custodians are rehypothecating assets or commingling assets.
In traditional markets, gold extended gains while some analysts warned the dollar index’s downside appeared limited. Stay alert!
Read more: For analysis of today’s altcoin and derivatives activity, see Today’s Cryptocurrency Market
What to see
For a more comprehensive list of this week’s events, see CoinDesk’s “Crypto Week Ahead.”
- cryptocurrency
- December 15, 5 a.m.: Aster L1 testnet AMA on Discord.
- December 15th, 10am: Conflux (CFX) hosts “AI Agents in Web3” AMA on X Spaces.
- Macro
- December 15, 8:30 a.m.: Canadian inflation rate for November. The title is expected to be 2.3% year-on-year and 0.1% month-on-month. Core year-on-year (previous value 2.9%), month-on-month (previous value 0.6%).
- December 15, 9:30 a.m.: Federal Reserve Governor Stephen I. Miran speaks (“The Inflation Outlook”). Watch live.
- income (Estimate based on FactSet data)
Token event
For a more comprehensive list of this week’s events, see CoinDesk’s “Crypto Week Ahead.”
- Governance votes and calls
- The Streamr DAO is voting to incentivize its CEO and CTO with performance-based token rewards, with tokens only minted when the DATA price reaches specific milestones between $0.05 and $1.00. Voting closes on December 15th.
- December 15: Linea, MetaMask and Consensys will participate in the 2025 Year-End Review.
- Unlock
- December 15th: Unlocks 1.61% of its circulating supply, worth $21.99 million.
- December 15th: Unlocking 5.07% of its circulating supply, worth $13.87 million.
- Token issuance
Meeting
For a more comprehensive list of this week’s events, see CoinDesk’s “Crypto Week Ahead.”
market trend
- BTC is down 0.46% since 4pm ET on Friday to $89,821.87 (24 hours: -0.07%)
- ETH up 2.47% to $3,160.25 (24 hours: +1.65%)
- CoinDesk 20 rose 0.3% to 2,853.05 (24 hours: +0.24%)
- The comprehensive pledge rate of Ethereum CESR increased by 3 basis points to 2.81%
- The BTC financing interest rate on Binance is -0.0017% (annualized -1.8407%)
- DXY was little changed at 98.32
- Gold futures rose 1.16% to $4,378.70
- Silver futures rose 2.78% to $63.73
- The Nikkei 225 closed down 1.31% at 50,168.11 points
- The Hang Seng Index closed down 1.34% to 25,628.88 points
- The FTSE rose 0.83% to 9,729.49
- Europe’s Stoxx 50 rose 0.6% to 5,754.91
- The Dow closed down 0.50% on Friday at 48,458.05 points
- The S&P 500 closed down 1.07% at 6,827.41 points
- The Nasdaq Composite Index closed down 1.69% at 23,195.17 points
- The S&P/TSX Composite Index closed down 0.42% at 31,527.39 points
- The S&P 40 Latin America Index ended unchanged at 3,173.29 points
- The U.S. 10-year Treasury bond rate fell 2.6 basis points to 4.17%
- E-mini S&P 500 futures rose 0.5% to 6,865.00
- E-mini Nasdaq 100 futures rose 0.5% to 25,338.50
- E-mini Dow Jones Industrial Average futures rose 0.47% to 49,090.00
Bitcoin Statistics
- Bitcoin dominance: 59.13% (+0.13%)
- Ethereum-Bitcoin ratio: 0.03516 (1.21%)
- Hash rate (seven-day moving average): 1,064 EH/s
- Hash price (spot): $38.35
- Total fee: 1.93 BTC / $172,697
- CME Futures Open Interest: 124,275 BTC
- BTC in gold: 20.6 ounces.
- Bitcoin and gold market capitalization: 6.01%
technical analysis
- This chart shows the daily fluctuations in Stellar (XLM) token price in the form of candlesticks.
- Price has broken below a sideways pattern, indicating that the downtrend line represents a broader downtrend.
- The decline has shifted focus to April’s low of 20 cents.
crypto stocks
- Coinbase Global (COIN): Closed at $267.46 (-0.58%) Friday pre-market, up 0.41% to $268.56
- Circle (CRCL): Closed at $83.47 (-5.76%), +0.97% Closed at $84.28
- Galaxy Digital (GLXY): Closed at $26.75 (-10.42%), +1.23% at $27.08
- Bullish (BLSH): Closed at $43.54 (-4.05%), -0.18% at $43.46
- MARA Holdings (MARA): Closed at $11.52 (-2.7%), +0.52% at $11.58
- Riot Platforms (RIOT): Closed at $15.30 (-2.86%), +0.65% at $15.40
- Core Scientific (CORZ): Closed at $16.53 (-5%), +0.42% at $16.60
- CleanSpark (CLSK): Closed at $14.03 (-5.33%), unchanged pre-market
- CoinShares Valkyrie Bitcoin Miner ETF (WGMI): Closed at $42.74 (-7.77%)
- Exodus Movement (EXOD): Closed at $15.23 (-8.2%), +1.31% Closed at $15.43
Cryptocurrency Treasury Corporation
- 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% at $10.69
- Upexi (UPXI): Closed at $2.26 (-6.22%)
- Lite Strategies (LITS): Closed at $1.71 (-5.52%)
ETF flows
Spot BTC ETF
- Daily net traffic: $49.1 million
- Cumulative net flow: $57.89 billion
- Total BTC holdings are approximately 1.31 million
Spot ETH ETF
- Daily Net Traffic: -$19.4M
- Cumulative net flow: $13.11 billion
- The total amount of ETH held is about 6.32 million
Source: Farside Investors
