CryptoQuant's head of research Julio Moreno argues Bitcoin has likely been in a bear market for about two months after several indicators turned negative in early November and the price fell below its one-year moving average. He sees a potential bottom near the realized price in the $56,000–$60,000 range, implying a drawdown of roughly 55% from the all-time high, while recent options data and institutional ETF flows point to cautious sentiment but fewer shock events than in 2022.

South Korea’s Financial Intelligence Unit fined crypto exchange Korbit ₩2.73 billion (about $1.90 million) after an on-site AML/KYC inspection conducted October 16–29, 2024 identified nearly 22,000 rule breaches. The FIU also flagged 19 overseas transfers tied to three unregistered foreign VASPs and confirmed the sanction on December 31, 2025.

A veteran market analyst has identified a bullish divergence in the Bitcoin-to-gold ratio after the pair fell from 32 on October 5 to about 20, a decline of more than 37%. Daily and weekly RSI readings around recent lows, including a level near 31.85 last seen in November 2022, suggest selling pressure against gold may be cooling. With Bitcoin trading at $87,750 and down 4.8% year-to-date while gold has reportedly surged over 70% in 2025, investors are reassessing whether the BTC/GOLD ratio can rebound above key levels into 2026.

According to Farside Investors data, US investors allocated close to $32 billion to US crypto ETFs in 2025, even as market momentum faded late in the year. Spot Bitcoin funds saw $21.4 billion of net inflows, below the $35 billion recorded in 2024, while BlackRock's IBIT took in about $24.7 billion and Ethereum ETFs, including ETHA and FETH, also accumulated substantial new capital.

On December 30, 2025, Santiment reported Bitcoin lagging major assets since November, with gold up 9%, the S&P 500 up 1%, and BTC down about 20%. Bitcoin traded near $88,000 as of Wednesday, while large holders stayed cautious and smaller wallets were more active in late 2025. CoinCodex forecasts $91,500 by January 30, 2026 amid extreme fear and mixed on-chain signals.

Market commentators say a sharp divide has emerged between Bitcoin supporters and precious metals advocates after a year of strong moves for both sides, with Bitcoin’s long-term returns contrasted against gold and silver’s powerful rally. Analyst Adam Livingston cites roughly 27,700% gains for Bitcoin since 2015, versus about 400% for silver and 280% for gold, while critics such as Peter Schiff argue that shorter timeframes tell a different story. Other analysts highlight how macro factors, a weaker US dollar and expectations of Fed easing in 2026 are driving all three assets, suggesting Bitcoin does not need gold or silver to slow before it can rise again.

XRP is hovering around $1.87 after falling below $2 and is down about 30% in the fourth quarter of 2025. Some analysts highlight prior accumulation phases and current support near $1.8–$2 as signs a rebound could form, while others point to the downtrend from October 2025 as continued selling pressure.

On December 26, 2025, Sharplink co-CEO Joseph Chalom said Ethereum's total value locked could rise 10X in 2026, linking the outlook to stablecoin usage, real-world asset tokenization, and institutional interest. Based on reports, the stablecoin market is about $308 billion and may reach $500 billion by the end of next year, with roughly 54% of activity on Ethereum. ETH traded near $2,921 on December 25, 2025.

On December 24, 2025, Capital Markets said tokenized stocks on Solana reached an all-time high of ~$185M. Charles Hoskinson argued Solana's faster decision-making and upgrades give it near-term momentum versus Ethereum, while Ethereum's research-focused roadmap targets broader infrastructure over a longer horizon.