As of December 19, 2025, total crypto market capitalization fell to $2.93 trillion, an eight‑month low that erased 2025 gains. Fear gauges hit "extreme" levels, with Bitcoin swinging between $90,200 and $84,800 and some analysts flagging possible downside toward $10,000.

On 19 Dec 2025, Intercontinental Exchange, owner of the New York Stock Exchange, was reported to be in talks to acquire a stake in crypto payments firm MoonPay at a valuation near $5 billion. This prospective deal would follow ICE's earlier backing of Bakkt and a $2 billion investment in Polymarket, expanding its reach from trading venues into consumer and institutional payment flows. MoonPay, last valued at $3.4 billion in a 2021 Series A, has also secured a limited purpose trust charter in New York, giving institutions a regulated option for crypto custody and OTC trading.

On December 19, $3.18B in BTC and ETH options expired on Deribit, with BTC notional around $2.7B and max pain near $88,000. Positioning showed heavier puts below $91,000 and notable liquidity at $85,000. Another roughly $23B of options are scheduled to expire on December 26, as open interest remains subdued near $39B in Q4.

Bybit, the Dubai-based cryptocurrency exchange, is resuming UK operations on December 19 after a two-year suspension by operating under Archax's FCA-compliant framework. The collaboration enables access to 100 spot cryptocurrency trading pairs, including assets such as Bitcoin and Ethereum, with zero deposit and withdrawal fees via Archax. Bitcoin's market dominance, price performance and broader regulatory alignment in the UK may shape how users engage with this newly regulated trading venue.

On 19 December 2025, U.S. lawmakers confirmed that the CLARITY Act will not be brought to the Senate floor this year, with the earliest window for action now set for January 2026. Senators John Kennedy and Tim Scott cited unresolved disputes over DeFi oversight and partisan tensions, including concerns tied to President Donald Trump's crypto-related business ventures. The delay extends uncertainty around how the U.S. will structure regulation for digital assets and decentralized finance.

In November 2025, Northern Data agreed to sell its bitcoin mining unit Peak Mining for up to $200 million to three companies controlled by Tether executives Giancarlo Devasini and Paolo Ardoino. The transaction followed an earlier uncompleted $235 million sale attempt and came shortly before a separate $767 million deal in which Rumble, backed by Tether, announced plans to acquire Northern Data.

Intercontinental Exchange, the NYSE's parent, is negotiating a potential investment in MoonPay as part of the crypto payments firm's latest fundraising. MoonPay is targeting a valuation of around $5 billion, while the size of ICE's commitment remains undisclosed and no agreement has been finalized. The move would extend ICE's push into blockchain-enabled market infrastructure.

On Friday, Dec. 19, about 31,000 Bitcoin options with roughly $2.7 billion notional value are due to expire, a smaller-than-average batch. Coinglass cites max pain near $88,000 and total BTC options OI at $52.5 billion, while Deribit shows $2.3 billion OI at the $100,000 strike. Spot markets have weakened throughout the week.