Two early Bitcoin wallets transferred a combined 2,000 BTC worth over $178 million on December 5. The wallets had been inactive since 2011 and 2012 before executing full-balance transfers. Data show the movements appear to be consolidation activity rather than immediate exchange deposits, occurring as Bitcoin traded near $89,300.

Wallets holding between 10 and 10,000 BTC accumulated 47,584 BTC in early December, reversing a two-month selloff of 113,070 BTC between October 12 and November 30, data show. The accumulation has stabilized price action. However, continued retail buying may limit upside momentum compared to previous accumulation-driven rallies when retail sold while whales accumulated.

The U.S. personal saving rate declined to 4.7% in September while inflation remained at 2.8% year-over-year, according to the Bureau of Economic Analysis. Real consumer spending showed zero growth during the period, marking one of the weakest consumption readings this year. Personal income rose 0.4%, driven by wage gains and dividend income.

Peter Schiff, a vocal cryptocurrency critic, launched T-Gold.com on December 4, enabling users to purchase physical gold and silver convertible into blockchain tokens. In a discussion with Binance founder Changpeng Zhao, Schiff acknowledged that tokenization enhances gold's transportability, divisibility, and fungibility while maintaining its store-of-value properties. Despite adopting blockchain infrastructure, Schiff maintained his skepticism toward digital currencies without physical backing.

Bitcoin's failure to break through $94,000 on December 3 has left more than a quarter of circulating supply in unrealized loss. On-chain data show the cryptocurrency fell below the 0.75 cost-basis quantile in mid-November, a threshold where three-quarters of supply remains profitable. The current structure presents elevated risk as price remains below critical cost-basis levels identified by quantile analysis.

The U.S. Commodity Futures Trading Commission authorized spot cryptocurrency trading on federally regulated exchanges for the first time. Acting Chairman Caroline D. Pham announced December 4 that CFTC-registered futures exchanges may now list spot digital assets under federal supervision. The decision ends decades of state-level-only oversight and opens institutional access to compliant spot crypto markets.

Ethereum activated its Fusaka upgrade on December 3 at slot 13,164,544, implementing execution-layer optimizations without disrupting network operations. The network maintained 995,908 active validators and 35.63M staked ETH immediately following activation. ETH traded above $3,150 after the upgrade deployment.

Strategy, the largest corporate Bitcoin holder, reduced its acquisition to 9.1K BTC in November 2025, down 93% from 134.5K BTC purchased in November 2024, according to CryptoQuant data. Through early December 2025, the company acquired just 135 BTC, marking one of its slowest buying periods in recent years. The decline follows a consistent downward trend throughout 2025, with monthly purchases falling from 59.7K BTC in December 2024 to current levels.

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.