By Omkar Godbole (All times ET unless otherwise noted)
The week is off to a positive start with bitcoin rose more than 1% to $89,800, approaching the upper end of the recent one-week play range between $85,000 and $90,000. The overall bid between $92,000 and $95,000 remains a key hurdle for the bulls to overcome, according to BRN.
This week’s US economic calendar is light but relevant: US third-quarter gross domestic product (GDP) and consumer confidence reports will be released on Tuesday, followed by jobless claims on Wednesday.
These figures could influence investors’ risk sentiment, although the end-of-year holidays could keep market liquidity tight, leading to erratic price movements. On Friday, $27 billion worth of BTC and ETH options will expire on Deribit, and positioning is tilted bullish ahead of the event.
Some analysts remain cautious despite the price rally.
“Short-term positive momentum can be misleading, and the broader picture of disappointment compared to early year hopes should not be overlooked,” Alex Kuptsikevich, chief market analyst at FxPro, said in an email.
“Bitcoin is 30% below its peak and trading at a level lower than it was at the beginning of 2025. Attempts to push year-to-date momentum to zero are of little consolation in this context,” he added. The largest cryptocurrency started the year around $93,400, CoinDesk data shows.
In the broader market, tokens such as HYPE, KAS, SKY, and NIGHT have gained between 4% and 6% in 24 hours, while major altcoins such as XRP, ETH, and SOL are trading mixed. The CoinDesk 20 and CoinDesk 80 indices are little changed.
Uniswap’s UNI token is down more than 1% as voting begins on a proposal to activate the protocol fee swap and turn the token into a value accumulation instrument. The vote has been overwhelming in favor of the protocol.
In traditional markets, gold hit a record high of $4,420 as longer-term bond yields in Japan continued to rise, highlighting fiscal concerns. The dollar index fell slightly to $98.48, erasing Friday’s gain. Stay alert!
Read more: For an analysis of current activity in altcoins and derivatives, see Crypto Markets Today
What to watch
For a more complete list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
- Crypto
- Macro
- December 22, 8:30 am: Canada November YoY PPI (previously 6%), est. monthly 0.3%.
- Earnings (Estimates based on FactSet data)
symbolic events
For a more complete list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
- Governance votes and calls
- BNB Chain is voting to reduce the number of consecutive blocks a validator produces from 16 to 8. This adjustment is intended to avoid major chain reorganizations and prioritize network stability. Voting ends on December 22.
- Axie Infinity is voting to stake Community Treasury idle assets to earn Compound Protocol rewards. Voting ends on December 22.
- Moonwell DAO is voting to change the rETH oracle on Base and OP Mainnet to a stable exchange rate feed and use 2.6 ETH from reserves to pay off bad debts. Voting ends on December 22.
- CoW DAO is voting to renew its grant program for 2026. The proposal aims to improve capital efficiency through quarterly fund releases and focuses on developer onboarding, ecosystem alignment, and novel protocol applications. Voting ends on December 22.
- Unlock
- Token releases
Conferences
For a more complete list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
Market movements
- BTC is up 1.73% as of 4 pm ET Sunday to $89,806.03 (24 hours: 1.39%)
- ETH is up 1.79% to $3,043.84 (24 hours: 1.62%)
- CoinDesk 20 rose 1.31% to 2,773.68 (24 hours: +0.76%)
- Ether CESR Composite Staking Rate is down 1bp to 2.809%
- BTC funding rate is 0.0082% (9.0173% annualized) on Binance
- DXY is down 0.12% at 98.48
- Gold futures rise 1.24% to $4,441.80
- Silver futures rise 2.22% to $68.99
- The Nikkei 225 closed up 1.81% at 50,402.39
- The Hang Seng closed up 0.43% at 25,801.77
- The FTSE is down 0.37% at 9,860.97
- The Euro Stoxx 50 falls 0.17% to 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
- Nasdaq Composite closed up 1.31% at 23,307.62
- S&P/TSX Composite closed up 1.00% at 31,755.77
- The S&P 40 Latin America closed with a fall of 0.19% to 3,087.72
- The 10-year US Treasury rate rises 1.8 basis points to 4.169%
- E-mini S&P 500 futures up 0.36% to 6,912.00
- E-mini Nasdaq-100 futures rise 0.53% to 25,709.75
- E-mini Dow Jones Industrial Average index futures rose 0.09% to 48,509.00
Bitcoin Statistics
- 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 market capitalization against gold: 6.01%
Technical analysis
- The chart shows hourly swings in the price of bitcoin in candlestick format.
- BTC has broken out of a mini descending channel, confirming sellers’ exhaustion and opening the doors to more gains ahead.
- A clear break above the ascending trend line from the November 21 lows would solidify the immediate bullish outlook, exposing the $92,000-$95,000 supply zone.
Crypto Stocks
- Coinbase Global (COIN): Closed on Friday at $245.12 (+2.47%), premarket up 1.87% 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
- Bullish (BLSH): closed at $44.60 (+4.01%), +1.84% to $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% to $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% to $10.05
- Upexi (UPXI): closed at $2.08 (+10.64%), +1.92% to $2.12
- Lite Strategy (LITS): closed at $1.43 (+5.93%), +2.1% at $1.46
ETF Flows
BTC Spot ETF
- Daily net flows: -$158.3 million
- Accumulated net flows: $57.39 billion
- Total BTC holdings ~1.31 million
ETH Spot ETF
- Daily net flows: -$75.9 million
- Accumulated net flows: $12.46 billion
- Total ETH holdings ~6.09 million
Source: Farside Investors
while you were sleeping
