📉 Mike McGlone's Warning: Bitcoin's Potential Drop Amid Market Volatility

🔍 Bloomberg strategist Mike McGlone is revisiting his past predictions about Bitcoin as the current crypto market shows signs of overheating. He recalls his earlier assertion that Bitcoin might "drop a zero" when it was near $10,000, which turned out to be only partially accurate; the asset eventually bottomed out around $3,000 instead. Now, he warns that Bitcoin could potentially retreat to the $10,000 mark if risk assets experience a collective unwind.

📊 McGlone emphasizes that the current market environment is much more inflated than it was seven years ago. In 2018, the crypto landscape was filled with a few thousand coins; today, it is overwhelmed with millions of tokens. He views this surge as a textbook example of late-cycle mania. Additionally, he points to the hype surrounding exchange-traded funds (ETFs) and political support — particularly from the Trump administration — as factors contributing to the euphoric peaks reminiscent of past market cycles.

📉 On the technical front, McGlone notes that Bitcoin's previous support level at $100,000 has now turned into resistance. The asset is currently trapped between $90,000 and $100,000. While a bounce is possible, he anticipates that "responsive sellers" will limit any breakout. He argues that the long-term trend has already weakened, as evidenced by Bitcoin's 200-day moving average rolling over and its declining strategy since August.

⚡ McGlone sets a long-term downside target for Bitcoin at $50,000, which he considers "normal" within the context of a broader risk-off cycle. He cautions investors against being misled by sharp rallies, describing them as typical of bear markets rather than signs of recovery.

📌 He cites the Bloomberg Galaxy Crypto Index — currently down about 14% for the year after a previous climb of roughly a third — as further evidence that a reversal may already be in progress. If equities follow a similar trajectory, he believes the entire market structure could tilt lower as the year comes to a close. This prediction comes as Bitcoin recently dropped below the $90,000 range.

🚀 Urgent Call for Federal Crypto Clarity in America

📈 A strong push for federal clarity on cryptocurrency is gaining momentum in the United States. Industry groups, including the Solana Policy Institute, are urging President Donald Trump to take swift action on taxation, regulation, and enforcement to foster innovation in the digital asset space. On November 20, the Solana Policy Institute highlighted a coalition letter signed by over 65 crypto organizations, stating:

it’s time for federal agencies to act.

📝 The letter outlines several tax priorities, such as revising guidance on mining and staking, confirming nonrecognition treatment for wrapping and bridging, and delaying new rules under Internal Revenue Code Section 6050I until stablecoin taxation is clarified. It also calls for consistent commodity treatment for foreign trading of digital assets and updates to charitable donation rules to align with traditional assets. Additionally, the coalition requests that definitions of qualified research be expanded to include cryptographic engineering and smart contract development.

🔍 The letter emphasizes:

The roadmap exists. Now agencies must act to cement American leadership in crypto.

This statement underscores the need for interim clarity from federal regulators while longer-term rulemaking is underway. The coalition encourages the U.S. Securities and Exchange Commission (SEC) to provide safe harbors for open-source development, protect self-custody rights, and expand exemptive relief for decentralized finance activities. It also urges the Treasury and the Financial Crimes Enforcement Network to align policies with previous guidance on noncustodial software and to withdraw earlier proposals related to mixing services.

🆕 Falcon Finance Integrates Centrifuge's JAAA Token for USDf Minting

🚀 Falcon Finance has made a significant move in the decentralized finance (DeFi) space by integrating Centrifuge's $1 billion JAAA token as collateral for minting USDf. This token represents a diversified portfolio of short-duration, AAA-rated corporate collateralized loan obligations (CLOs). By doing so, Falcon is one of the few DeFi protocols to allow investment-grade structured credit to be used as native collateral.

💡 The inclusion of JAAA introduces a new category of high-quality, structured real-world credit into Falcon's ecosystem. It transforms real-world assets (RWAs) from a passive, yield-bearing asset class to an active, liquid one. This allows users to maintain exposure to high-quality corporate credit and its underlying yield while minting USDf against that position.

🔗 Leaders from both Falcon and Centrifuge emphasized the importance of utility for RWAs. Bhaji Illuminati, CEO of Centrifuge Labs, stated,

Tokenizing real-world assets is only the first step. The real transformation happens when these assets can be used as collateral directly onchain.

Artem Tolkachev, Chief RWA Officer at Falcon Finance, noted that the market is evolving towards more complex, higher-yield assets.

The market is evolving from a first wave focused on tokenized Treasuries toward higher-yield, higher-complexity credit assets.

🌐 The addition of JAAA aligns with Falcon's vision of supporting multiple asset classes for collateral eligibility. Users who complete KYC can now deposit JAAA and JTRSY, a short-duration tokenized Treasury product, to mint USDf and access liquidity while remaining fully invested in their RWA positions.

💱 Bolivia's Bold Step: Integrating Cryptocurrency into Banking

🌟 Bolivia is set to become a pioneer in Latin America by integrating cryptocurrency into its banking system. Economy Minister Jose Gabriel Espinoza announced that banks will soon offer services such as savings accounts, credit cards, and loans based on cryptocurrencies. This move is part of a broader modernization effort within the country's financial services.

💳 The focus will be on stablecoins, which have emerged as a popular option for citizens seeking to protect themselves against devaluation and inflation due to ongoing exchange controls.

Stablecoins begin to function as a legal tender payment instrument

Espinoza emphasized. He also noted the importance of recognizing and leveraging cryptocurrency despite its global control challenges, stating,

You can’t control crypto globally, so you have to recognize it and use it to your advantage.

🔄 This announcement marks a significant shift in Bolivia's approach to cryptocurrency. The country previously banned banks from assisting customers in purchasing crypto. However, following the lifting of this ban, there has been a dramatic increase in crypto adoption, with trading volumes doubling within months. This new policy could also pave the way for stablecoins to play a crucial role in securing energy imports, a possibility that was previously restricted by an executive order from the former government.

🌍 While Bolivia's economy may be small on the global stage, its decision to embrace cryptocurrency and stablecoins could serve as a model for other nations to follow. As this experiment unfolds, it will be interesting to see its impact on traditional financial systems and its potential to enhance financial inclusion.

🌍 Bitmine Expands Its Ethereum Treasury

📈 Bitmine has significantly increased its Ethereum holdings, now controlling 3.73 million ETH, which accounts for over 3% of the total supply. This positions the company as the largest holder of Ethereum globally, with a total asset value of approximately $12.1 billion, including $882 million in cash and other cryptocurrencies.

❗️ Bitmine scooped up 96,798 ETH over the past week, the filing revealed, highlighting a strategic move ahead of the Dec. 3 Fusaka upgrade. The company aims to enhance scalability, security, and usability of the Ethereum network, which enthusiasts believe will improve user efficiency.

📊 Despite recent market fluctuations, Bitmine has increased its ETH purchases by 39%, believing that market conditions have stabilized. Their crypto portfolio also includes 192 Bitcoin and a $36 million investment in Eightco Holdings.

⚠️ All told, Bitmine now controls just over 3% of Ethereum’s circulating supply, placing it two-thirds of the way toward its “Alchemy of 5%” target. Additionally, Bitmine is developing MAVAN (Made in America Validator Network), a high-security staking infrastructure set for early 2026.

⚡️ The company plans to hold its annual shareholders meeting at the Wynn Las Vegas on Jan. 15, 2026.

💱 Cryptocurrency Mining: A Hidden Factor in Ruble Exchange Rate Forecasts

🗣 Maxim Oreshkin, Deputy Chief of Staff to Russian President Vladimir Putin, has identified cryptocurrency mining as a significant yet often overlooked factor affecting ruble exchange rate forecasts. He described this booming sector as a "new, undervalued export item" during a forum hosted by Russia’s second-largest bank.

We’ve acquired a new, undervalued export item—cryptocurrency mining,

Oreshkin stated. He emphasized that accurate ruble forecasts must now consider the fundamental changes in cash flow dynamics brought about by mining activities. These flows, which occur outside standard banking channels, are often low-visibility and difficult for traditional economic models to account for.

🌍 Russia has become a global leader in Bitcoin mining due to its abundant and cheap energy resources. The legalization of mining on November 1, 2024, was a crucial step that allowed mined cryptocurrency to be used for international payments. This development is particularly important amidst global sanctions that have made traditional financial channels more challenging.

💰 Experts estimate that in 2024, Russian miners will produce approximately 36,000 BTC valued at around $3.15 billion. By mid-2025, Russia's hashrate was about 150 EH/s, accounting for approximately 16.6% of the global total. Oreshkin's remarks highlight the need for Russia's economic planning to adapt to the growing role of digital assets as a non-traditional source of foreign currency supply.

📈 Bitcoin's Weekend Surge: A Market Turnaround

💥 After flirting with the $88,000 mark, Bitcoin (BTC) made a significant rebound, reaching an intraday high of $91,767. This sudden rise not only surprised weekend traders but also triggered a massive liquidation event across the crypto market, as large buyers forced short positions to close.

📊 The weekend's price action was anything but subtle. Following a dip towards $87,000, Bitcoin quickly reversed course, displaying a series of green candles on multiple timeframes. This surge indicated that major buyers were stepping in after a period of market uncertainty. The 1-hour chart revealed a deep wick into the $87,744 region, which was met with strong buying pressure. This was not just typical retail activity; the spike in volume suggested a coordinated effort to absorb sell-side liquidity.

📈 On the 4-hour chart, the rebound was dramatic, marked by a large green candle accompanied by significantly higher volume than previous sessions. This shift put those heavily invested in short positions in a precarious situation. Earlier in the week, the market had hit a low of $80,537 before whales began purchasing at discounted prices, leading to a sharp recovery.

💔 The repercussions of this market movement were substantial. According to Coinglass, over $348.32 million in leveraged positions were liquidated within 24 hours. This included $229.46 million from long positions during the earlier downturn and $118.86 million from shorts as the price rebounded. Ethereum (ETH) experienced the most significant losses with $135.14 million liquidated, while Bitcoin accounted for an additional $78.48 million.

📉 The data highlighted a crucial lesson: overconfidence can lead to severe consequences. Many traders had been emboldened by the recent dip, only to be caught off guard when larger players re-entered the market and triggered a short squeeze.

🚀 Superstate Launches Direct Issuance Programs for SEC-Registered Companies

🌐 Superstate, a financial technology firm, has introduced its Direct Issuance Programs, enabling SEC-registered companies to raise capital directly on blockchain platforms like Ethereum and Solana using stablecoins. This innovative approach allows companies to issue tokenized shares instantly to KYC-verified investors, with real-time updates to the shareholder registry across both ecosystems.

It’s time for a reset that better serves investors and smaller issuers,

said Robert Leshner, CEO of Superstate. The platform aims to reduce financing costs, broaden global investor access, and create a more equitable environment for capital raising. The first issuer offerings are anticipated to launch in 2026.

💡 Key details about the program include:
- Supported blockchains: Solana and Ethereum, which together facilitate nearly $200B in the stablecoin economy.
- Eligibility: The method is available to SEC-registered public companies.
- Benefits: It offers instant settlement, lower costs, and global investor access.
- Launch timeline: The first offerings are expected to be available in 2026 through Superstate’s Opening Bell platform.

🪙 Mixed Performance in Crypto ETFs: Bitcoin and Ether See Outflows While Solana and XRP Attract Inflows

📉 On Thursday, December 11, the crypto exchange-traded fund (ETF) market experienced a shift after two days of inflows. Bitcoin and ether funds saw capital withdrawals, while solana and XRP continued to draw in new investments. This mixed performance highlighted varying sentiments across different asset classes.

💸 Bitcoin ETFs faced significant outflows totaling $77.34 million, primarily due to large redemptions from Fidelity’s FBTC, which lost $103.55 million. Other notable exits included Vaneck’s HODL with $19.38 million and Ark & 21Shares’ ARKB shedding $16.38 million. Grayscale products also contributed to the outflows, with GBTC seeing $12.21 million leave and its Bitcoin Mini Trust losing $10.97 million. However, Blackrock’s IBIT managed to attract $76.71 million in inflows, and Bitwise’s BITB gained $8.44 million. Despite these inflows, the overall selling pressure was too strong to overcome.

📉 Ether ETFs also slipped into negative territory, experiencing outflows of $42.37 million. Grayscale’s ETHE led the decline with $31.22 million exiting, followed by its Ether Mini Trust which saw $10.03 million leave. Fidelity’s FETH contributed an additional $3.21 million in outflows. The only exception was 21Shares’ TETH, which brought in $2.08 million, but this was insufficient to offset the overall pullback.

📈 In contrast, solana ETFs continued their strong performance, attracting $11.02 million in inflows. Bitwise’s BSOL led with $4.44 million, followed by Fidelity’s FSOL with $3.56 million, Grayscale’s GSOL adding $2.59 million, and Vaneck’s VSOL contributing $437.5K. Trading activity remained robust at $32.42 million.

📊 XRP ETFs also closed the day positively with $16.42 million in inflows. Franklin’s XRPZ led the way with $9.87 million, followed by Bitwise’s fund with $4.98 million and Grayscale’s GXRP adding $1.57 million.

📉 Privacy Coins Diverge: Zcash Falls While Monero Rises

📈 The privacy-focused cryptocurrency Zcash (ZEC) has experienced a significant decline, dropping from a peak of just over $741 on November 15 to a low of $411 by December 16. In contrast, its competitor Monero (XMR) has seen an increase of more than 15% in the past week.

📉 ZEC has fallen 44.54% since its November high, with a slight decrease of 3.1% this week and a 1.4% drop in the last day. Despite this pullback, ZEC still boasts a remarkable 626% gain from its price level a year ago. The privacy coin sector as a whole has a combined valuation of $17.35 billion, with ZEC holding the second-largest market cap at $6.76 billion, representing 38.97% of the sector's total value. Monero has recently reclaimed the top spot by market cap.

✔️ Monero's market performance has been notably different, rising 3.2% today and posting a 15.4% gain over the past week. It reached a price of $437 per coin in November and is currently trading at $426. However, when comparing the past 12 months, ZEC still outperforms XMR with a 626% increase since December 16, 2024, compared to XMR's 102% rise.

❗️ Despite the overall downturn in the crypto market, XMR's price has remained relatively stable, sitting about 21% below its early 2018 peak of nearly $542. Another privacy coin, Beldex (BDX), has gained attention this week with a 5.9% increase over the past seven days.

⛔️ Most other top privacy coins have suffered significant losses, with DASH falling 14.4% this week, DCR dropping 18.8%, and MWC experiencing a sharp decline of 20.5%. Zano (ZANO) decreased by 10.5%, Horizen (ZEN) sank 18.8%, and Verge (XVG) is down 15.4% against the dollar over the past week.

🚀 Senate Confirms Michael Selig as CFTC Chairman, Paving the Way for Enhanced Crypto Oversight

⚠️ The U.S. Senate confirmed Michael Selig as the 15th chairman of the Commodity Futures Trading Commission (CFTC) on December 18, signaling a significant shift in digital asset policy. This leadership change positions the CFTC for expanded oversight of cryptocurrencies and renewed momentum in digital asset regulation.

‼️ Following the confirmation, there was an immediate response from Capitol Hill highlighting the expectation for collaboration on digital asset policy. The House Financial Services Committee expressed their support on social media, stating,

Congrats to Mike Selig on his confirmation as CFTC Chair. The CFTC is a critical partner in our financial markets.

They emphasized their eagerness to work with Selig and the SEC to provide much-needed regulatory clarity for digital assets.

🔔 Selig's confirmation came after a closely divided vote of 53–43 and grants him a term that extends through April 2029. He takes over after a prolonged interim period following the departure of Rostin Behnam in January. During this time, Commissioner Caroline Pham served as acting chair before moving to the private sector.

⚖️ As Selig steps into his new role, he faces both structural and strategic challenges. His previous experience as chief counsel to the SEC's Crypto Task Force and as a partner at Willkie Farr & Gallagher has set expectations for him as a pragmatic regulator. During his confirmation process, he expressed support for principles-based rules and emphasized the importance of enforcing against fraud and manipulation rather than minor technical violations.

⚠️ These priorities align with congressional efforts like the proposed CLARITY Act, which aims to expand the CFTC's authority into crypto spot markets and enhance its role compared to the SEC. However, the agency is currently short-staffed due to several resignations earlier this year, which may leave Selig as the only confirmed commissioner for the time being.

From Korea to the global stage, OpenLedger is gaining serious traction.

Netmarble's MarbleX investing in $OPEN is a clear signal of rising confidence in verifiable AI and transparent data.

With key partnerships, a live roadmap, and $OPEN up ~15%, momentum is building. The path to $0.30 looks increasingly plausible.

Check it out:

👉 Announcement
👉 Telegram: English | China | Korea
👉 Twitter: Global | China

🚨 Crypto Market Events to Watch This Week: Christmas Volatility or Santa Rally?

👉 Read more

📌 Venezuela's Oil Economy: The Rise of Stablecoins

💰 Asdrubal Oliveros, a local economist, has revealed that nearly 80% of Venezuela's crude oil sales are conducted using stablecoins, particularly USDT. He emphasized the significant role of cryptocurrency in the country's oil policy, despite the challenges faced in liquidating these funds.

📈 According to Oliveros, stablecoins have become integral to Venezuela's oil strategy amidst unilateral sanctions from the U.S. government. He noted that oil production has increased to over 1 million barrels per day, highlighting the sector's connection to the cryptocurrency economy.

Almost 80% of oil revenue is being collected in cryptocurrencies, in stablecoins,

Oliveros stated. However, he also pointed out that this reliance on digital assets has created issues for the Venezuelan administration.

This is causing a bottleneck in the foreign exchange market,

he explained,

and that puts pressure on demand, drives up the price.

🌍 The Venezuelan oil sector generates over $12 billion annually, with most exports going to China. The increasing use of stablecoin payments in such a large industry demonstrates the growing liquidity of these assets in international markets. It also highlights the potential of stablecoins as alternative settlement instruments in commodity markets when traditional payment methods are unavailable.

⚠️ If sanctions continue and the political conflict remains unresolved, Venezuela may see an even greater shift towards stablecoin payments for oil sales. This could position the country as an example of an economy driven by stablecoin income.

📈 Jim Rickards Predicts a Bullish 2026 for Gold and Silver

💬 Jim Rickards, a renowned economist and best-selling author, has shared his optimistic outlook for the metals market, particularly for gold and silver, predicting a significant surge in 2026. In a recent interview, he emphasized that the traditional drivers of the gold bull market, such as central bank demand and limited supply, will remain strong into 2026.

📊 Rickards pointed out that new factors are also emerging that could further elevate prices. He highlighted the growing demand from institutional investors, including sovereign wealth funds, as a potential catalyst for price increases. Additionally, he noted that geopolitical events, such as European attempts to take over Russian assets, might be influencing gold demand as countries seek to diversify away from seizable assets.

If you’re Saudi Arabia, or Japan, or Taiwan, or Brazil, or any large holder of US Treasury securities, you’re looking at that and saying, “Hey, what if the U.S. doesn’t like something I do? Um, maybe I ought to diversify into gold,”

Rickards explained.

📈 Regarding silver, Rickards noted that its price increase is linked to a market dynamic where paper silver significantly outweighs physical silver. He stated,

It would not surprise me, not even a little bit, to see $10,000 gold before the end of 2026. I think we will. Silver’s along for the ride. At that point, you’re looking at $200 an ounce.

📉 Recently, gold has surpassed the $4,500 mark, and silver has exceeded $70, marking a strong performance for both metals this year. Other metals like platinum and copper have also seen notable price increases.

🚨 USDC Supply Shrinks: USDC Treasury Burns 51M Tokens on Solana

👉 Read more

📉 Bitcoin's Current Market Status: Consolidation Amid Indecision

💰 Bitcoin is currently trading at $87,752, with a market cap of $1.75 trillion and a 24-hour trading volume of $15.69 billion. The price has fluctuated between $87,363 and $87,893 throughout the day, indicating a period of indecision rather than significant movement.

📊 The daily chart reveals a phase of consolidation. After a recent dip from its highs, Bitcoin is moving sideways between support at approximately $83,800—which has been tested twice—and resistance near $94,600. The volume suggests a distribution phase, with red candles indicating that bears are still active in the market.

If bitcoin retests the $83,800 level and posts a bullish reversal candlestick, the market might get its next catalyst.

🔍 On the 4-hour chart, the price recently bounced from around $86,363 after a lackluster breakdown from $90,070. Currently, it is experiencing a sideways movement between $86,300 and $88,000 with decreasing volume, which suggests indecision among traders. Those looking for a breakout above $88,000 should watch for strong candle formations and volume expansion.

📉 The 1-hour chart shows a tight range between $87,272 and $87,920 with tapering volume, indicating a lack of conviction among participants. A breakout above $87,920 with solid volume could lead to a run towards $88,500, but failing to hold above $87,200 might result in a quick drop to $86,500.

It’s a mean-reversion playground at the moment—dip buyers near $87,300 and nimble scalpers at the upper bounds, proceed with precision.

📌 The oscillators show a neutral market with the relative strength index (RSI) at 45, the Stochastic oscillator at 52, and the commodity channel index (CCI) at -41. The average directional index (ADX) is at 19, confirming the lack of a strong trend. However, the Awesome oscillator logs a mild -1,693, continuing the neutral sentiment.

📈 Seized, Mined, Stockpiled: How Governments Became Major Bitcoin Holders in 2025

📈 In 2025, the landscape of Bitcoin (BTC) ownership among nation-states shifted significantly. The United States emerged as the largest holder, with its stash increasing from 198,012 BTC in May to approximately 328,372 BTC by the end of the year. This surge was largely due to a major confiscation of 127,271 BTC linked to a wanted Chinese national.

‼️ Following the U.S. is the United Kingdom, which holds 61,245 BTC. This accumulation dates back to a 2018 police raid related to a £5 billion fraud case, where authorities seized devices containing over 61,000 BTC.

🌍 El Salvador ranks third with 7,509 BTC, maintaining its status as the only country where Bitcoin is legal tender. However, the International Monetary Fund (IMF) has expressed skepticism about the country's recent acquisitions, suggesting that some reported "purchases" may merely be internal transfers.

⛔️ The United Arab Emirates (UAE) comes next, holding 6,568 BTC sourced from mining operations through Citadel Mining, which is predominantly owned by the UAE Royal Group. The UAE has been positioning itself as a hub for crypto and blockchain technology.

👀 Bhutan rounds out the top five with 5,984 BTC, acquired primarily through mining and managed by the Royal Government via its sovereign wealth fund, Druk Holdings (DHI). Despite reducing its holdings in 2025, Bhutan aims for significant growth in its Bitcoin investments by 2035.

🔍 The methods by which these countries have amassed their Bitcoin vary: seizures, mining operations, and treasury strategies all play a role. As we look towards 2026, it is clear that Bitcoin ownership by governments is becoming increasingly mainstream and is now a critical aspect of financial policy discussions.