Trading

Bitcoin opened December 2024 under selling pressure, continuing a pattern observed throughout the year. Analyst Daan Crypto Trades found that approximately 80% of months in 2024 established their monthly high or low within the first 12 days. December has followed this trend with an immediate decline from the monthly open, leaving no upside wick.

Bitcoin may be nearing its cycle bottom following significant deleveraging and capitulation, according to Bitfinex Alpha. Entity-Adjusted Realised Losses have surpassed $400 million, exceeding levels recorded at previous market troughs. Reduced selling pressure indicates exhaustion among short-term holders, the analysis shows.

Bitcoin is testing the $93,000 level for the second time in under a week. Derivatives data show significant short-liquidation clusters forming between $92,500 and $94,000. The concentration of overleveraged short positions could trigger forced buying if upward momentum continues.

Bitcoin investors holding coins for over six months have reversed their supply trend, marking the first increase since April. The 6-month inactive supply recently turned upward after months of decline, according to Capriole Investments founder Charles Edwards. This shift suggests a potential move toward stronger holding behavior across the network.

Bitcoin rose 6% to surpass $91,000 after Vanguard restored spot Bitcoin ETF access to its client base of over 50 million accounts. U.S. markets opened with more than $150 million in BTC bids, marking the strongest intraday surge since May 2025, data show. Bloomberg ETF analyst Eric Balchunas suggested the policy reversal could push Bitcoin toward $100,000 as 2026 approaches.

Bitcoin dropped below $84,000 on December 1, pulling total crypto market capitalization under $3 trillion, according to CoinGecko data. The decline occurred as traditional equities, gold, and other risk assets hit consecutive peaks. Analysts point to structural factors including exhausted crypto-native capital and limited institutional inflows, despite favorable macroeconomic conditions such as anticipated Federal Reserve rate cuts and strong corporate earnings.

Maxim Oreshkin, Deputy Chief of Staff of the Presidential Executive Office, said cryptocurrency mining has become a significant but undervalued export sector for Russia that directly impacts the national currency market. He emphasized that mining-related financial flows should be incorporated into the country's balance of payments to improve ruble exchange rate forecasts. Oreshkin made the remarks at the "Russia Calling!" international investment forum in Moscow this week.

Kraken has completed its acquisition of Backed Finance AG to accelerate expansion of its xStocks tokenized equities platform. The platform surpassed $10 billion in trading volume within six months of launch. The deal consolidates issuance, trading, and settlement operations under Kraken's infrastructure.

Large Bitcoin holders moved hundreds of millions of dollars in BTC from cold storage to exchanges throughout November and early December. Bitcoin price remains range-bound between $83,000 and $86,000, with the Crypto Fear and Greed Index falling to 9—its lowest level in years. Market participants debate whether whale movements signal distribution or strategic positioning ahead of potential liquidity expansion.

Bank of America has authorized more than 15,000 wealth advisers to recommend Bitcoin exchange-traded funds to clients, the bank told Yahoo Finance. Starting January 5, clients at Merrill, Bank of America Private Bank, and Merrill Edge can access four spot Bitcoin ETFs. The bank recommends a 1–4% crypto allocation for suitable investors, marking a significant expansion of regulated digital asset products within traditional banking channels.