Technical Analysis

Grayscale's spot Chainlink ETF launched December 3 with $42 million in first-day inflows and $13 million in trading volume. LINK climbed over 20% from $12 to $15 during the week, while Open Interest rose from $194 million to $240 million.

Strategy has sharply reduced its Bitcoin acquisition pace, purchasing only 135 BTC in December 2025 compared to 134,000 BTC at its 2024 peak. The company raised over $1.44 billion in equity to establish a dollar reserve covering preferred stock dividends and bond interest for 12 to 24 months. CryptoQuant data show monthly acquisitions declined from 134,000 BTC during the 2024 peak to 9,100 BTC in November 2025.

Bitcoin's failure to break through $94,000 on December 3 has left more than a quarter of circulating supply in unrealized loss. On-chain data show the cryptocurrency fell below the 0.75 cost-basis quantile in mid-November, a threshold where three-quarters of supply remains profitable. The current structure presents elevated risk as price remains below critical cost-basis levels identified by quantile analysis.

Strategy has set aside $1.44 billion in cash to cover dividend payments on preferred stock and interest obligations for at least 12 months, data show. The reserve represents a structural shift from the company's historical practice of channeling capital primarily into Bitcoin accumulation. Monthly BTC purchases dropped from 134,000 BTC in 2024 to 9,100 BTC in November 2025.

Bitcoin trades above $93,000 after a midweek recovery that briefly reached $94,000. Technical indicators show improving momentum, with the Relative Strength Index at 61 and bullish Moving Average Convergence Divergence alignment. Institutional developments, including Vanguard's crypto ETF access and Bank of America's 1–4% allocation guidance, could channel up to $700 billion in new liquidity into digital assets, according to Nic Puckrin of The Coin Bureau.

Bitcoin has recovered above $93,000 after recent declines, with the Coinbase Premium Index returning to positive readings. The shift signals renewed buying activity from U.S. institutional investors following a negative premium period through November. Analysts point to changing investor behavior patterns, particularly among regulated institutional participants.

Asset manager DigiAssetFund withdrew 15,000 Hyperliquid tokens valued at approximately $525,000 from FalconX on December 4, pushing its holdings above $1 million, data show. Hyperliquid's HIP-3 custom markets surpassed $5 billion in cumulative trading volume on the same day. The platform's permissionless framework has enabled traders to deploy perpetual contracts on technology equities and indices beyond traditional crypto assets.

The Bitcoin Futures Market Power Index has reached 56.9, positioning above the critical 50 threshold and triggering a bull signal, data show. The index sits within the neutral zone of 40-60, with no extreme conditions present. The current level indicates derivatives market support for upward momentum, though the narrow margin above 50 suggests vulnerability to shifts in market pressure.

Ethereum reached $3,230 on December 5, 2025, its highest level in three weeks, driven by accumulation from wallets holding 1,000 to 10,000 ETH. Data show the rally coincided with the successful Fusaka upgrade deployment on December 4, which enhanced layer-1 performance and expanded blob capacity. The network recorded 190,000 new wallet addresses in a single day.

Arbitrum's native token rose over 11% in 24 hours as the Layer 2 network recorded 2 million active addresses, a 135% weekly increase. The token approached a key resistance level at $0.24 while total value locked climbed 7% this month to $6.53 billion. Developer activity reached a three-month high during the period.