In the first two trading days of 2026, US spot Bitcoin ETFs drew more than $1.2 billion in new capital, with almost every fund reporting inflows. At this rate, projected annual inflows could reach about $150 billion, roughly 600% higher than the $21.4 billion recorded in 2025, while Morgan Stanley has filed to launch new Bitcoin and Solana ETF products.

Since mid-December 2025, large Bitcoin holders controlling between 10 and 10,000 BTC have accumulated 56,227 BTC worth over $5.3 billion while retail traders with less than 0.01 BTC have been taking profits. This divergence, combined with BTC trading near the top of its $87,000–$94,000 range and option interest clustering around $100,000 for January expiry, is seen by analysts as supporting a bullish continuation scenario.

Ethereum’s validator exit queue dropped to roughly 32 ETH with about a one-minute wait, the lowest level since July, while the entry queue climbed to 1.3 million ETH. BitMine began staking on Dec. 26 and added 82,560 ETH on Jan. 3, contributing to renewed staking demand and easing perceived selling pressure.

In 2025, ESG specialist Daniel Batten used peer-reviewed research to dispute nine common claims about Bitcoin mining’s energy and environmental impact. He argues that resource use is not tied to transaction volume, that miners can stabilize renewable-heavy grids instead of destabilizing them, and that mining does not raise consumer power prices. Batten also contends that proof-of-work offers unique environmental benefits and that Bitcoin mining can expand access to renewable energy rather than waste it.

In the fourth quarter of 2025, Ethereum's network handled over $8 trillion in stablecoin transfers, almost twice the volume recorded in the second quarter. Over the same period, daily transactions, monthly active addresses and unique active wallets on Ethereum all climbed to new all-time highs, while the chain kept a leading share in stablecoin issuance and real-world asset tokenization.

In December, the Federal Reserve's dot plot showed disagreement on 2026 policy, while the Dec. 10 move lowered the target range to 3.5%–3.75%. According to CME Group, investors see a 20% chance of a 25 bp cut in January and 45% in mid-March, with analysts debating one to two cuts and potential impacts on crypto flows.

Glassnode said on Tuesday that the 30-day SMA of net flows for US spot Bitcoin and Ether ETFs has been negative since early November, signaling muted institutional participation. Coinglass reported four straight trading days of aggregate Bitcoin ETF outflows, while the Kobeissi Letter cited $952 million leaving crypto funds last week. BlackRock's IBIT still drew minor inflows and totals $62.5 billion since inception.

Galaxy head of research Alex Thorn stated on Tuesday that Bitcoin’s all-time high above $126,000 in October equates to $99,848 when converted into 2020 dollars, leaving it just under the six-figure threshold. He based this figure on cumulative Consumer Price Index changes since 2020, as U.S. inflation has eroded the dollar’s purchasing power while the Dollar Currency Index has fallen 11% since the start of 2025.

According to the Financial Times, Tether-majority-owned Northern Data sold its Bitcoin mining subsidiary Peak Mining for up to $200 million to three companies controlled by Tether executives. The sale, first disclosed without naming buyers in November, occurred shortly before video platform Rumble agreed to acquire Northern Data and is intertwined with a 610 million euro loan and large advertising and GPU deals between Tether and Rumble.