Bitcoin’s price spent the week grinding between $86K and $92K, but a surge in the on-chain activity indicator has analysts arguing the bull cycle isn’t over yet. The data shows old coins moving again and capital rotating at a scale far larger than 2017, signals often seen before major expansions.
Still, price action remains messy: BTC briefly slipped below $89K, dragged by weak global risk sentiment, mixed macro data, and ongoing regulatory pressures.
Across the market, volatility picked up. Regulators issued new warnings, altcoins retested key support levels, and Ethereum’s Fusaka upgrade delivered a speed boost. Spot markets, ETF flows, and liquidity now sit at the center of every short-term prediction.
A lot happened, and many charts are sitting at make-or-break levels.
Read the full weekly recap to catch every major move.
Bitcoin Drops Below $87K as Global Risk Sentiment Weakens
Bitcoin fell around 5% to below $87,000 as investors shifted away from risk assets following weak economic data from Japan and China, along with broader stock market declines. Profit-taking, derivatives liquidations, and cautious sentiment accelerated the drop. Analysts say key levels to watch include $80,000 for support and $100,000 for recovery targets, with ETF flows and liquidity signaling future direction.
Italy Warns Crypto Platforms to Get MiCAR-Ready or Leave by December 2025
Italy’s regulator, CONSOB, has warned that crypto platforms must apply for MiCAR authorization by 30 December 2025 or face suspension of operations in the country. Firms that do not seek approval must close accounts and return customer funds. Those applying can continue temporarily, but only until a decision or 30 June 2026. The move highlights the EU’s push for fully supervised crypto markets following recent failures.
XRP Slides Toward Support as Fear Reaches Rebound Zone
XRP dropped to around $2.08, down 31% in two months, but sentiment data from Santiment shows fear is now at levels that previously triggered short-term rallies. The token is testing support near $2.02, with resistance at $2.13–$2.25. Technicals remain weak, though ETFs continue to attract inflows, with nearly $900 million in assets under management. A break below $2.02 risks further downside.
CFTC Approves Spot Crypto Trading on Regulated U.S. Markets
The CFTC has authorized spot cryptocurrency trading on federally regulated futures exchanges for the first time, allowing assets like Bitcoin and Ethereum to trade under existing market rules. The move aims to shift activity from offshore platforms into supervised U.S. venues with established surveillance and customer protections. Major exchanges such as CME and Cboe may list spot products, thereby clarifying the roles of the CFTC and SEC.
Polygon Price Drops Despite Record Network Growth
Polygon’s POL token fell to around $0.13, near its all-time low, even as network activity surged. Transactions jumped 94% in 30 days, active users rose 87% to 12.6 million, and DEX volume reached $8.18 billion. Growth was fueled by Polymarket expansion and Revolut’s stablecoin integration. Despite strong fundamentals, competition, and weak technicals, the trend remains bearish, with downside risk toward $0.10.
Ethereum Rallies After Fusaka Upgrade Boosts Network Speed
Ethereum climbed to around $3,200 after the Fusaka upgrade went live, introducing PeerDAS to reduce bandwidth use by up to 85% and pushing transactions per second to a record 32,950. Network activity and DeFi market share continue to rise, while major U.S. brokerages plan new crypto offerings. Technical indicators, including a double bottom and falling wedge, suggest potential upside toward $4,000, unless support at $2,643 breaks.
Binance Introduces Co-CEO Structure as Yi He Joins Richard Teng
Binance has appointed co-founder Yi He as co-CEO alongside Richard Teng to enhance governance and compliance. Teng will manage regulatory and institutional issues, while Yi He will oversee products and retail operations. This change comes amid lawsuits and licensing challenges, aiming to balance regulatory credibility with retail growth. Yi He, a key figure since 2017, emphasized her independence from CZ and denied allegations of terrorism financing.
Franklin Templeton Crypto ETF Adds Six New Tokens After Rule Change
Franklin Templeton expanded its EZPZ Crypto Index ETF to hold eight assets rather than just Bitcoin and Ethereum, adding XRP, Solana, Dogecoin, Cardano, Stellar, and Chainlink. The move follows Cboe’s SEC-approved rule changes, which allow ETFs to hold any asset in a regulated benchmark index. The fund now tracks the CF Institutional Digital Asset Index and will rebalance quarterly, offering broader, rules-based crypto exposure for investors.
MSTR Faces Rebound Test After 40% November Crash
MicroStrategy’s stock fell more than 40% in November, dropping from $446 to around $177 and breaking below key technical support levels. Indicators show a strong downtrend, though oversold conditions suggest a possible retest of $230 in December. The outlook now depends largely on Bitcoin’s price, as the company holds 649,870 BTC. A dovish Fed decision on December 15 could boost both Bitcoin and MSTR.
XRP Price Eyes December Rebound After 14% Drop
XRP fell over 14% in November to around $2.20 despite major developments, including a $500 million Ripple investment from Citadel and Fortress and strong ETF inflows exceeding $600 million. The company’s RLUSD stablecoin also surpassed $1 billion in assets. Analysts say the current bullish flag pattern could lift XRP toward $2.73 in December, though a drop below $1.95 would invalidate the outlook.
