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BTC struggled to hold gains above $107,000, facing resistance on lighter volumes before sliding during the APAC session to the mid-range near $105,000. This marks day 13 of BTC trading above the critical $100K level. Notably, spot ETF inflows surged to $667.4 million — tripling overnight — with BlackRock accounting for nearly half the total. Still, macro risks loom large. Tariff headlines are back in focus, and rising concerns around U.S. debt sustainability are beginning to surface across financial media. The 10-year yield creeping toward 4.6% runs counter to the market’s hopes for further Fed easing. As Paul Tudor Jones previously warned, this environment could strengthen the investment case for BTC and gold as stores of value.
In the ETH complex, SOLETH is showing signs of recovery, but ETHBTC appears vulnerable to a broader pullback — potentially toward mid-rally levels or even yearly lows. Options flow supports the bullish ETH narrative, with over $400 million stacked at the $3K call strike. The $6K strike is the third most popular upside bet. Traders are positioning through call spreads, buying $3K or $3.2K and selling $6K calls, targeting the December 26 expiry.
Altcoins continue to ride higher, with DeFi leading the charge. AAVE is up 6%, buoyed by a positive feedback loop of price action and TVL growth. AAVE’s TVL just hit $30B — up 50% from the YTD low of $20B — cementing its place as ETH’s leading lending protocol and the second-largest dApp by TVL.
Institutional flows and corporate headlines remain active. JPMorgan is now allowing clients to gain BTC exposure — though notably not offering custody services. Meanwhile, Circle is exploring strategic bids from the likes of Coinbase and Ripple, seeking a $5B+ valuation. On the regulatory front, U.S. lawmakers voted 66-32 to advance stablecoin oversight legislation under the GENIUS Act — a positive signal for crypto regulatory clarity in the U.S.
The Chicago Mercantile Exchange (CME) has debuted XRP futures, recording a notable $15 million in daily trading volume. This development has sparked optimism regarding the potential approval of a spot XRP Exchange-Traded Fund (ETF), as the existence of regulated futures markets often strengthens the case for ETF approvals. Industry experts suggest that the introduction of XRP futures could be a significant step toward broader institutional adoption and regulatory acceptance of XRP-based financial products.
Chainlink Integrates CCIP with Solana, Unlocking $19B in Asset Potential
Chainlink has integrated its Cross-Chain Interoperability Protocol (CCIP) with the Solana blockchain, facilitating seamless cross-chain applications and enhancing liquidity across different blockchain networks. This integration is expected to unlock approximately $19 billion in asset potential, with several prominent crypto projects, including Solv, Backed Finance, and Shiba Inu, planning to utilize CCIP's infrastructure on Solana. The move positions Solana as a more interconnected and versatile platform within the decentralized finance ecosystem.
U.S. Senate Advances GENIUS Stablecoin Bill Amid Political Tensions
The U.S. Senate has moved forward with the GENIUS Act, a significant legislative effort aimed at regulating the $250 billion stablecoin market. Despite bipartisan support, the bill faces criticism from some Democrats due to concerns over potential conflicts of interest, particularly related to President Trump's involvement in cryptocurrency ventures. The legislation seeks to establish a comprehensive regulatory framework for stablecoins, enhancing oversight and consumer protection in the rapidly evolving digital asset space.
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This research is for informational use only. This is not investment advice. Other than disclosures relating to Secure Digital Markets this research is based on current public information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. The information, opinions, estimates, and forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our research as appropriate.
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