On 23 December 2025, Bitcoin-focused firm Strategy was reported to have built a $2.19 billion cash reserve to support interest and preferred dividend payments for nearly three years. TD Cowen analysts say this liquidity shift eases balance-sheet concerns, even as the stock's large Bitcoin position and link to crypto sentiment keep volatility high. They also highlight a changing regulatory backdrop and project Strategy's Bitcoin holdings could climb toward 835,000 BTC by the end of fiscal 2027.

Major cryptocurrencies are trading near recent highs, but momentum has slowed. Price action and sentiment data point to consolidation, and not a renewed breakout.

On December 23, 2025, CoinShares reported $952,000,000 in weekly net outflows from digital asset investment products, the first in four weeks. Ethereum posted $555 million in withdrawals and Bitcoin $460 million, while Solana and XRP saw $48.5 million and $62.9 million of inflows. The United States recorded $990 million of outflows, partly offset by Canada and Germany.

Gold set a new peak above $4,420 per ounce on December 22, 2025, reviving comparisons with Bitcoin as BTC hovered near $88,000. Analyst Darkfost's 180-day moving-average work finds no consistent gold-to-Bitcoin rotation, while reports of Kazakhstan weighing up to $300 million for BTC/crypto and a Peter Schiff poll (62.4% for Bitcoin) highlight evolving preferences.

In the past day, traders have added new Bitcoin positions in the perpetual futures market, and the Funding Rate indicates these are largely leveraged long bets. On-chain data shows Open Interest climbed from 304,000 BTC to 310,000 BTC alongside a price recovery toward $90,000, while the Funding Rate increased from 0.04% to 0.09%. Bitcoin has since eased slightly from its latest high, with the spot price pulling back to $89,500.

BlackRock named its iShares Bitcoin Trust (IBIT) one of three primary investment themes for 2025, alongside short‑term Treasurys and US mega‑cap technology stocks. Despite a roughly 9.6% year‑to‑date decline and Bitcoin's pullback of about 30% from its October peak, IBIT has drawn more than $25 billion this year, with total net inflows since launch near $62.5 billion per Farside Investors.

Bitmine Immersion Technologies said its combined crypto, cash and "moonshot" holdings total about $13.2 billion, after adding 98,852 ETH in the past week to reach 4.07 million ETH and 193 BTC. The ETH trove equals roughly 3.37% of the 120.7 million circulating supply, and its shares averaged $1.7 billion in daily volume as of December 19.

Aave’s native token continued to slide despite steady buying from founder Stani Kulechov, highlighting weak market confidence as governance and revenue concerns overshadow insider accumulation. On-chain data shows Kulechov added more than $12 million worth of AAVE over the past week, but the token remains under pressure as investors await clarity on DAO control and long-term value capture.