According to BitMart's market report on December 23, the total market capitalization of cryptocurrencies over the past week was $3.02 trillion, a decrease of 1.31% from the previous week.
This Week's Crypto Market Dynamics
The crypto market showed a significant weakening this week, with Bitcoin retreating after being blocked at the key historical resistance level of $94,000, falling below the important support level of $86,000, and market liquidity tightening significantly.
On-chain data indicates that this round of adjustment is not driven by retail panic selling, but rather by institutional-level funds represented by large addresses continuously de-risking and distributing. Since November, the number of large BTC holding addresses has decreased at the fastest rate since 2022, while small holding addresses continue to grow, indicating that retail investors still have the willingness to "buy on dips," but the scale is insufficient to absorb the selling pressure from whales, leading to a clear differentiation in the funding structure. Ethereum and major altcoins such as SOL, XRP, and ADA generally fell by 5%–11% this week, underperforming BTC. However, SOL and XRP spot ETFs still maintained net inflows, attracting incremental funds for 11 consecutive trading days, indicating that some funds are positioning for the long-term logic of public chains during price corrections. In contrast, both BTC and ETH ETFs have recently seen significant net outflows. Meanwhile, the BTC/stablecoin balance ratio on exchanges is stabilizing, reflecting a temporary balance between buying and selling forces. Across markets, the correlation between crypto assets and traditional markets has temporarily decreased, with the rebound in U.S. stocks providing limited support to the crypto market. As the year-end approaches, the market will focus on the conclusion of the U.S. earnings season and capital expenditure guidance from tech giants. Historical data shows that Bitcoin tends to perform relatively steadily in the week before Christmas, but volatility increases during the holiday period until New Year's Day, after which performance often improves with capital reallocation.
Overall, under the intertwining of institutional de-risking, tightening liquidity, and seasonal disturbances, the crypto market is expected to remain weak and volatile in the short term, with trends continuing to be dominated by changes in funding structure and macro risk appetite.
This Week's Popular Coins
In terms of popular coins, BEAT, NIGHT, CC, SKY, and XMR have shown impressive performance, ranking among the top five in percentage increase. BEAT's price rose by 61.14% this week. NIGHT's price increased by 55.61%. CC's price went up by 24.03%. SKY and XMR rose by 17.32% and 15.13%, respectively.
U.S. Market Overview and Hot News
This week, the U.S. market experienced increased volatility under multiple risk factors. Although the Federal Reserve completed its third rate cut of the year and signaled a dovish stance, expectations of interest rate hikes from the Bank of Japan and hawkish positions from several central banks have heightened concerns about global liquidity and growth prospects. Key data such as U.S. non-farm payrolls and CPI showed a slowdown in economic momentum, compounded by the end of the U.S. stock buyback season and the approach of the last "quadruple witching day" of the year, leading the market into a low liquidity phase with rising institutional de-risking and hedging demand. The AI sector saw amplified volatility, with some semiconductor earnings exceeding expectations leading to a brief recovery, but major indices remained under pressure on a weekly basis. The U.S. dollar index strengthened slightly, but the upside was limited, while precious metals strengthened significantly under safe-haven demand, and energy prices remained weak; U.S. Treasury yields overall fell, with short-term yields stronger than long-term, reflecting ongoing concerns about long-term inflation and fiscal issues.
Overall, in the context of macro uncertainty and declining holiday liquidity, sentiment in the U.S. stock market remains cautious, with short-term trends still dominated by data, central bank expectations, and institutional behavior.
On December 22, MetaPlanet will hold an extraordinary general meeting to discuss important proposals regarding future preferred stock issuance.
On December 23, the U.S. Bureau of Economic Analysis will release the third-quarter GDP data.
On December 25, U.S. stock markets will be closed for one day due to the Christmas holiday.
On December 26, approximately $23 billion in Bitcoin options will expire, which may exacerbate already high volatility.
Project Unlocks
MBG By Multibank Group (MBG) will unlock approximately 15.84 million tokens at 8:00 PM Beijing time on December 22, with a circulation ratio of 8.42%, valued at approximately $8.1 million.
SOON (SOON) will unlock approximately 21.88 million tokens at 4:30 PM Beijing time on December 23, with a circulation ratio of 5.97%, valued at approximately $8 million.
Undeads Games (UDS) will unlock approximately 2.15 million tokens at 8:00 AM Beijing time on December 23, with a circulation ratio of 1.46%, valued at approximately $5.2 million.
Humanity (H) will unlock approximately 105 million tokens at 8:00 AM Beijing time on December 25, with a circulation ratio of 4.79%, valued at approximately $14.8 million.
Plasma (XPL) will unlock approximately 8.889 million tokens at 8:00 PM Beijing time on December 25, with a circulation ratio of 4.5%, valued at approximately $11.7 million.
Risk Warning:
The risks associated with using BitMart services are entirely borne by you. All cryptocurrency investments (including returns) are inherently highly speculative and involve significant risk of loss. Past, hypothetical, or simulated performance does not necessarily represent future results.
The value of digital currencies may rise or fall, and there may be significant risks associated with buying, selling, holding, or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment goals, financial situation, and risk tolerance. BitMart does not provide any investment, legal, or tax advice.
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