Macro Overview
- US Job Openings: Came in higher than expected, which is slightly bearish for the crypto market.
- US Fed Funds Rate: Came in at 3.75%, in line with expectations, reflecting a 0.25% cut from the previous 4%. This is neutral to slightly bullish for the market.
- US Unemployment Claims: Came in higher than expected, which is slightly bullish for the market.
Crypto Markets Overview
- Market Movement: This week, the crypto market experienced a -3.77% fall, bringing the total market capitalization to $2.92 trillion. Notably, BTC saw a fall of -3.64% and ETH saw a fall of -4.69%. Bitcoin’s dominance stands at 59.22%, while Ethereum’s holds at 12.15%
- Bitcoin Network Activity Hits One-Year Low: Bitcoin active addresses have dropped to a 12-month low, signaling weaker blockspace demand. Network usage has slowed after last year’s Ordinals and Runes activity, and declining activity is also putting pressure on miner economics.
- Strategy Buys Another $980M in Bitcoin: Michael Saylor’s Strategy added 10,645 BTC worth about $980 million, taking total holdings to 671,268 BTC. The company now holds over 3% of Bitcoin’s total supply, with strong unrealized gains despite recent price weakness.
- Bitwise CIO Expects Bitcoin ATHs in 2026: Bitwise CIO Matt Hougan says bitcoin could break its traditional 4-year cycle and hit new all-time highs in 2026, alongside lower volatility and weaker correlations, despite current market weakness and expectations of a bearish year.
Top Altcoins Update
- Pyth Launches Token Buyback Program: Pyth Network has started a PYTH token buyback plan, using 33% of its DAO treasury each month to buy tokens from the open market. The first buyback is expected to be $100K–$200K, with amounts likely to grow as network revenue increases.
- BitMine Adds $321M ETH to Treasury: BitMine Immersion Technologies added 102,259 ETH worth about $321 million, taking its total holdings to nearly 4 million ETH. The company now controls over 3.2% of circulating ether, reinforcing its long-term bet on Ethereum as the future of finance.
- JPMorgan Issues Short-Term Debt on Solana: JPMorgan facilitated a commercial paper issuance on Solana for Galaxy Digital, settling via USDC. The move highlights rising institutional confidence in public blockchains and the growing shift toward tokenized, on-chain financial markets.
“Big Picture: Upcoming Weeks Key Economic Events”
| DATE | TIME | EVENT | USUAL EFFECT |
| Dec 16 | 7:00 PM | US Unemployment Rate | Actual greater than Forecast is good for crypto |
| Dec 18 | 7:00 PM | US CPI y/y | Actual less than Forecast is good for crypto |
| Dec 18 | 7:00 PM | US Unemployment Claims | Actual greater than Forecast is good for crypto |
Bitcoin Technical Analysis
Summary:
- The current sentiment around BTC is Sideways.
- BTC remained sideways in the past few days, just like we mentioned in our last weekly report. The outlook for the next few days hasn’t changed. Technically, price looks stable and is holding a key support level. On the macro side, sentiment is mixed, so the market doesn’t have a clear push in either direction.
- Key support levels to consider are around $83,800 and $75,000. On the upside, resistance level is at $93,800 and $99,200
- It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
- For profit-taking, strategically selling near the outlined resistance levels/support levels is a recommended approach. Always exercise caution and implement sound risk management practices in trading endeavours.
Ethereum Technical Analysis
Summary:
- The current sentiment around ETH appears Neutral.
- Ethereum remained range-bound this week and is expected to continue moving sideways in the coming days. Overall, it’s a wait-and-watch market with no clear directional bias yet.
- Significant support levels include $2826 and $2630, while resistance level to watch is at around $3210 and $3440.
- These levels play a crucial role in determining potential price movements. It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
Solana Technical Analysis
Summary:
- The current sentiment around SOL is Sideways.
- Solana remained choppy this week and slightly underperformed. In the near term, price action suggests sideways to mildly bearish movement, with direction still unclear. Market cues and BTC dominance will remain key to watch.
- Key support levels to consider are around $128 and $121. On the upside, resistance level is at $144 and $154.
- It is advisable to evaluate potential entry points around the mentioned support levels for long entries and at resistance levels for short entries. Additionally, setting limits to manage potential losses is prudent.
- For profit-taking, strategically selling near the outlined resistance levels/support levels is a recommended approach. Always exercise caution and implement sound risk management practices in trading endeavours.
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