JH Kim

According to crypto-focused media outlet CoinDesk on the 30th (local time), the stock price of MicroStrategy, which holds the most Bitcoin (BTC) among single companies, has fallen nearly 30% from about $430 right after its inclusion in the Nasdaq 100. This is a drop of about 45% compared to the late November peak ($543), and MSTR is currently trading at around $300. The media explained, "There were signs everywhere that MicroStrategy was poised for a short-term rise," adding, "Examples include the stock price surge, founder Michael Saylor's corporate promotion, and companies buying tokens based on corporate financial strategies. For reasons unknown, cash-rich MicroStrategy has developed a habit of announcing significant Bitcoin purchases on Sundays before submitting filings to regulators on Monday mornings at the end of the year." It continued, "But if something cannot last forever, it will eventually stop," and evaluated, "It seems that cracks have appeared in the MicroStrategy bubble since three weeks ago." Meanwhile, BTC is trading at $91,961.18, down 1.81% from the previous day, based on the Binance Tether (USDT) market at 01:41 on the 31st.

On the 27th (local time), the cryptocurrency specialist media BeInCrypto reported, citing statements from multiple analysts, that Bitcoin (BTC) could potentially drop to $60,000 in the short term. Analysts pointed to the current weak momentum as the reason, predicting that Bitcoin could fall to $60,000 before a bullish rebound in 2025. Currently, Bitcoin's key support range is between $93,800 and $97,000, and if this range collapses, it could plummet to $70,000.

According to the cryptocurrency media YouToday on the 27th (local time), Galaxy Research predicted in a report that Ethereum (ETH) will surpass $5,500 by 2025. They explained that an improved regulatory environment for the DeFi sector could act as a catalyst for Ethereum's bullish trend. Additionally, it is anticipated that traditional capital markets will test public blockchains within regulatory sandboxes. The possibility of NFTs, which led the bull market in 2021, recovering next year was also mentioned.

Sonic Labs (formerly Phantom) announced on the 27th (local time) via their official X (formerly Twitter) that the decentralized cryptocurrency lending protocol Aave community has passed a Temp Check proposal to deploy Aave V3 on the Sonic Mainnet. The Temp Check proposal is one of the procedures to gauge community sentiment in advance, and it can be finally implemented after going through the ARFC stage and voting (AIP).

Bitcoin (BTC) temporarily dropped below the $94,000 mark. Meanwhile, BTC is trading at $93,903.76, down 2.48% from the previous day, as of 01:20 on the 28th, based on the Binance Tether (USDT) market.

The U.S. digital asset management company Grayscale announced on the 27th (local time) via its official X (formerly Twitter) that it has launched an investment trust providing exposure to Lido DAO (LDO). This product is available only to eligible accredited investors (institutions).

According to the cryptocurrency media outlet CryptoBasic on the 27th (local time), the cryptocurrency analysis firm EGRAG CRYPTO, which has about 58,000 followers on X (formerly Twitter), analyzed that "the next major support level for Bitcoin (BTC) is in the $77,000 to $80,000 range where the CME gap exists." He stated, "The ongoing turmoil in the market is sparking concerns about further declines," and noted, "Since October 2022, Bitcoin has experienced several crashes, with an average loss rate of about 23.5%." He further explained, "The current market environment suggests the possibility of a pattern similar to the past. The potential downtrend aligns with historical averages." Meanwhile, BTC is trading at $94,525.34, down 1.59% from the previous day, as of 01:07 on the 28th in the Binance Tether (USDT) market.

Bitcoin (BTC) temporarily recovered to the $95,000 mark. Meanwhile, BTC is trading at $94,814.50, down 1.27% from the previous day, as of 00:25 on the 28th, based on the Binance Tether (USDT) market.

Virtual asset (cryptocurrency) newsletter WhaleWire's analyst Jacob King pointed out on the 26th (local time) via X (formerly Twitter) that "Bitcoin (BTC) is the greatest experiment showing how easily greed can brainwash individuals." He continued, "Bitcoin is completely useless," explaining that "it started as a way for internet poker addicts to gamble anonymously, and over time, it has developed into a malicious scam propped up by delusional speculators attracted by the allure of easy profits." Furthermore, he added, "Today, many people say it can overthrow the entire financial system," but "it's just a giant game of musical chairs, and it will never end well."

Bitcoin (BTC) temporarily recovered to the $96,000 level. Meanwhile, BTC is trading at $96,056.81, up 3.06% from the previous day, as of 05:01 on the 27th, based on the Binance Tether (USDT) market.

Ethan Vera, Chief Operating Officer (COO) of the cryptocurrency mining service company Luxor Technologies, stated in an interview with Bloomberg on the 26th (local time) that "President-elect Donald Trump has previously mentioned that he would actively encourage Bitcoin (BTC) mining within the United States," adding that "the promise is to mine all remaining Bitcoin in the U.S." He continued, "However, there is skepticism about the feasibility of Trump's promise," explaining that "the share of U.S.-based mining companies in the total computing power used for Bitcoin mining is less than 50%, and they are competing with China and Russia."

In popular prediction markets like Polymarket and Kalshi, bets are leaning towards Bitcoin (BTC) and Ethereum (ETH) reaching new all-time highs next year. According to Cointelegraph, a cryptocurrency-focused media outlet, as of the 26th (local time), Kalshi traders estimate a 62% chance that Bitcoin and Ethereum will reach at least $125,000 and $5,000, respectively, by 2025. Polymarket users predict a 50% chance of Bitcoin reaching $120,000 before the end of March.

Jake Ostrovskis, an OTC trader at the virtual asset (cryptocurrency) market-making firm Wintermute, stated in an interview with The Block on the 26th (local time) that "following MicroStrategy (NASDAQ ticker: MSTR) by purchasing Bitcoin (BTC) with company capital and adding it to the balance sheet will become a major trend for companies next year." He explained, "The trend of institutional investors and publicly traded companies stepping into the Bitcoin market and increasing their exposure can act as a significant growth driver for the market." He continued, "There will be an increase in the movement to stockpile BTC with funds raised by issuing convertible bonds, as adopted by MSTR, and small and medium-sized enterprises are likely to join the BTC purchase and holding strategy following this trend." Furthermore, he added, "Some companies may adopt MSTR's investment strategy but invest in Ethereum (ETH) instead of BTC."

The Swiss Bitcoin trading platform Relai announced on the 26th (local time) via its official X (formerly Twitter) that it purchased 13 Bitcoin (BTC) in celebration of Christmas. This amounts to approximately $1.24 million. Meanwhile, BTC is trading at $96,159.46, down 2.13% from the previous day, as of 00:29 on the 27th, according to the Binance Tether (USDT) market.

Jeffrey Park, a portfolio manager and head of alpha strategies at Bitwise Asset Management, a virtual asset (cryptocurrency) asset management company and issuer of Bitcoin (BTC) spot exchange-traded funds (ETFs), stated on the 26th (local time) via his X (formerly Twitter) that "the probability of the U.S. government adopting Bitcoin as a strategic reserve by 2025 is less than 10%." He further explained that "the introduction of a Bitcoin strategic reserve by the U.S. government is the only factor that could drive the BTC price above $1 million next year." Meanwhile, BTC is trading at $96,159.46, down 2.13% from the previous day, as of 00:29 on the 27th, based on the Binance Tether (USDT) market.

The virtual asset (cryptocurrency) market data analysis platform IntoTheBlock announced on the 26th (local time) via X (formerly Twitter) that "the number of staked Ethereum (ETH) has shown a steady increase this year," and "approximately 54.6 million ETH have been staked over the past 12 months." IntoTheBlock further added, "Currently, about 10% of the Ethereum staking volume is in a restaking state," noting that "the explosive growth in the restaking sector is also a noteworthy aspect this year." Meanwhile, ETH is trading at $3,349.16, down 3.61% from the previous day, based on the Binance Tether (USDT) market as of 00:22 on the 27th.

According to Trader T (@thepfund) on the 25th (local time), a total of $340 million was net outflowed from the U.S. Bitcoin spot Exchange-Traded Fund (ETF) the previous day. This marks the fourth consecutive trading day of net outflows. $190 million was net outflowed from BlackRock's IBIT. This is the largest net outflow since IBIT's launch in January this year. Meanwhile, $75 million was net outflowed from ARK Invest's ARKB, and $83.16 million from Fidelity's FBTC. Bitwise saw a net inflow of $8.5 million.

Bitcoin (BTC) temporarily recovered to the $99,000 level. Meanwhile, BTC is trading at $99,140.20, up 0.58% from the previous day, as of 04:22 on the 26th in the Binance Tether (USDT) market.

Web3 scam prevention security platform Scam Sniffer announced on the 25th (local time) via X (formerly Twitter) that "a user reported being redirected to a fake Fuzzy Penguin (PENGU) website." They explained, "The attacker uses malicious ads to check if the user has a Web3 wallet, and if confirmed, directs them to the fake website as part of the attack." Scam Sniffer emphasized, "Such attacks can easily occur in other projects as well, so it's important to enable ad blocking, use a separate browser for virtual assets (cryptocurrencies), and always verify the URL before connecting a wallet."

On the 25th (local time), cryptocurrency specialist media DL News reported, citing analysis from cryptocurrency research firm Kaiko, that Ethereum (ETH) could be the biggest beneficiary next year. Kaiko analysts stated, "Ethereum will be the biggest beneficiary affected by the change in the U.S. administration. If the classification of Ethereum as a security or a commodity becomes clear, we believe its growth will be accelerated next year." Meanwhile, ETH is trading at $3,468.99, down 0.39% from the previous day, as of 00:26 on the 26th, based on the Binance Tether (USDT) market.