On 25 December, blockchain investigator ZachXBT and other researchers raised security concerns about a recent Trust Wallet browser extension update. They allege that new code added on 24 December may exfiltrate seed phrases and wallet data to a spoofed domain, with users reporting rapid fund drains exceeding $2 million. The reports suggest a potential supply-chain compromise limited to the browser extension, while Trust Wallet has not yet issued any public response.

Uniswap governance passed the UNIfication proposal on 25 December, with 125,342,017 UNI votes in favor and 742 against, exceeding the 40 million UNI quorum. The plan includes a one-time burn of 100 million UNI from treasury and, after a two-day timelock, activation of protocol fee switches and the removal of frontend fees.

Bitcoin's price is now more heavily influenced by derivatives markets than by spot trading, according to CoinGlass. The report notes that futures, perpetual swaps, and options account for most trading activity, with derivatives volumes consistently exceeding spot across rallies and corrections. As a result, short-term price direction is increasingly driven by leverage, positioning, and hedging behavior rather than direct spot buying or selling.

Recent data shows Asian trading hours have been providing modest support to Bitcoin during price pullbacks, while U.S. and European sessions exert more downside pressure. On-chain indicators point to neutral to mildly distributive behavior, suggesting that current stability reflects selective dip absorption rather than a broad return of long-term accumulation.

In 2025, crypto dealmaking reached a record as mergers, acquisitions, and listings accelerated despite Bitcoin's pullback from October highs. The sector recorded 267 deals worth $8.6 billion and 11 IPOs raising $14.6 billion, with consolidation driven by regulatory clarity and compliance priorities.

Crypto sentiment has fallen back into the fear zone, with the Fear and Greed Index sitting in the high-20s. Although similar readings have historically aligned with market bottoms, current data on altcoin performance and liquidity indicates a controlled de-risking phase rather than classic capitulation. With altcoin weakness, muted trading volumes, and limited fresh capital, fear alone may not be a strong buy signal in the present cycle.

The S&P 500 index has advanced to a new all-time high of $6,900, extending a rally in U.S. equities, while the global crypto market cap remains capped below $3 trillion around $2.9 trillion. Technical readings show equity momentum staying firm, but crypto indicators point to cooling demand and repeated failures to break the $3 trillion threshold.

Net flows for Bitcoin and Ethereum ETFs have stayed below zero for more than six weeks, signaling softer institutional participation and tighter market liquidity. Daily prints show a – $142.19 million net outflow in BTC products and a $84.59 million inflow in ETH products, alongside lower AUM and prices.

According to Dune Analytics, major Ethereum staking operators have executed large weekly batches of full withdrawals in recent weeks, with peaks between 800,000 and 1.5 million ETH. Despite these spikes, the total staked amount remains above 33 million ETH, with Lido at 24.26%, signaling continued long‑term participation even as flows rotate across providers.