Macro Overview
- US ISM Manufacturing PMI: Came in lower than expected, which is positive for the market.
- US ISM Services PMI: Came in slightly higher than expected, which is slightly bearish for the market.
- US Unemployment Claims: Came in lower than expected (191k vs 219k), a mildly bearish signal for the short term.
- US Core PCE Price Index: Came in exactly as expected, which is neutral for the market.
Crypto Markets Overview
- Market Movement: This week, the crypto market experienced a 3.66% rise, bringing the total market capitalization to $3.09 trillion. Notably, BTC saw a rise of 3.34% and ETH saw a rise of 7.73%. Bitcoin’s dominance stands at 59.34%, while Ethereum’s holds at 12.26%
- Ethereum Fusaka Upgrade: Ethereum completed its Fusaka upgrade on 3 December, bringing execution-layer improvements focused on stability, performance, and client alignment. The upgrade went live at slot 13,164,544 and fits into Ethereum’s regular biannual cycle. While not a major fork like Dencun or Shanghai, it ensures smoother operations and prepares the network for larger upgrades planned for 2026.
- MetaMask integrates Polymarket for in-wallet prediction trading :MetaMask has partnered with Polymarket, letting users place prediction-market trades directly inside the wallet. Users can also earn MetaMask Rewards for each prediction. The integration includes “one-tap funding,” allowing deposits from any token on any EVM chain. Polymarket has grown rapidly over the past year, boosted by 2024 U.S. election interest and a more crypto-friendly regulatory climate, and recently regained approval to operate in the U.S.
- Michael Saylor’s Strategy adds 10,624 BTC, bringing treasury to 660,624 BTC: Strategy (formerly MicroStrategy) bought another 10,624 BTC for $963 million between Dec. 1–7, its biggest purchase since July. The firm now holds 660,624 BTC — about 3% of Bitcoin’s total supply — acquired at an average price of $74,696. At current prices, the stash is worth roughly $60 billion, leaving the company with more than $10 billion in unrealized gains.
Top Altcoins Update
- Revolut brings Solana payments to 65M users worldwide: Revolut has rolled out full native Solana support, letting its 65 million users send, receive, pay with, and stake SOL directly in-app. The update goes beyond simple trading — users can now make P2P payments, withdraw over the Solana network, and move USDT and USDC on Solana as well. With integrations already spanning Cash App, Venmo, and Western Union, Solana’s footprint in global fintech continues to expand rapidly.
- Bittensor’s first halving next week may support TAO price, says Grayscale: Bittensor will undergo its first-ever halving on Dec. 14, cutting daily TAO issuance from 7,200 to 3,600 as its first four-year cycle ends. The AI-crypto network rewards contributors through 129 active subnets focused on tasks like compute, storage, AI agents, and deepfake detection. Grayscale notes that reduced emissions should increase TAO scarcity, comparing the dynamic to Bitcoin’s halving cycles, which historically strengthened network value as supply growth slowed.
“Big Picture: Upcoming Weeks Key Economic Events”
| DATE | TIME | EVENT | USUAL EFFECT |
| Dec 9 | 8:30 PM | US Job Openings | Actual less than Forecast is good for crypto |
| Dec 11 | 12:30 AM | US Federal Funds Rate | Actual less than Forecast is good for crypto |
| Dec 11 | 1:00 AM | US FOMC Press Conference | More dovish than expected is good for crypto |
| Dec 11 | 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 Bullish.
- ETH performed well over the past week, clearly outperforming BTC. It looks bullish in the short term after reclaiming key EMAs on both the 4H and 1D charts. Price structure and momentum now favor continued strength, and ETH is likely to keep outperforming BTC in the coming days, provided broader market conditions stay stable.
- Significant support levels include $2975 and $2630, while resistance level to watch is at around $3225 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 to Bullish.
- SOL also performed well last week, bouncing from major support and improving its short-term structure. It’s now trying to reclaim the 20 EMA on the daily timeframe — if it manages to close above it, momentum could shift more clearly bullish. A breakout above the $144–$145 resistance zone would further confirm strength and open the door for a stronger upside move.
- Key support levels to consider are around $128 and $121. On the upside, resistance level is at $144 and $161.
- 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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