Daily market highlights and trend analysis, produced by PANews.
1. Market Observations
Driven by expectations of monetary easing following the Federal Reserve's 25-basis-point interest rate cut and its plan to purchase $40 billion worth of short-term US Treasuries per month, precious metals performed particularly well. Gold broke through December’s high, with prices nearing the $4,290 threshold, while spot silver surged to $64, continuing to set new all-time highs. However, signs of weakness in the US labor market emerged as initial jobless claims surged by 44,000 to 236,000 last week, marking the largest weekly increase since the pandemic. Coupled with a narrowing trade deficit, these developments have kept markets cautious about the economic outlook. Meanwhile, China convened its Central Economic Work Conference, setting the tone for economic work in 2026. It emphasized the implementation of a more proactive fiscal policy and a moderately accommodative monetary policy, focusing on expanding domestic demand and advancing technological innovation. On the consumer goods front, however, prices of Moutai liquor remain under pressure. The price of the 2025 Feitian Moutai fell below the psychological threshold of RMB 1,499, declining from around RMB 2,200 at the start of the year—a cumulative drop of over 30%. Industry insiders are concerned that the ongoing price decline could reduce or even eliminate channel distributors' profits, potentially triggering a vicious cycle of “price drops → sell-offs → further declines.” Looking ahead, analysts generally believe that global central bank policies will further diverge in 2026. The Federal Reserve’s conclusion of quantitative tightening (QT) and balance sheet expansion will bring a liquidity turning point, but downward pressure on the US dollar may force the European Central Bank into a difficult balancing act between inflation control and exchange rate stability.
The recent surge of enthusiasm in the artificial intelligence sector faced a reality check this week as doubts about AI investment returns triggered a broad pullback in technology stocks. Oracle's shares plunged as much as 16% during trading after reporting slower-than-expected growth in cloud infrastructure revenue and raising its capital expenditure guidance to $50 billion. The company’s market value evaporated by over $68.9 billion in a single day (some estimates reaching $102 billion). Investment banks such as UBS Group and Morgan Stanley subsequently downgraded their target prices for Oracle. Earnings reports revealed that profit growth was largely driven by non-recurring gains, with core business profitability under pressure. Despite Broadcom exceeding Q4 revenue and profit expectations, with AI-related revenue growing by 65%, its shares still fell 1.94% after-hours, reflecting cautious market sentiment. Meanwhile, OpenAI released its most advanced model, GPT-5.2, and announced a $1 billion partnership with Walt Disney, directly causing Alphabet’s stock price to drop by 2.43%. Domestically, Moore Thread, known as the “first domestic GPU stock,” saw its share price soar by over 723% post-IPO, pushing its market capitalization above RMB 440 billion. After hitting an all-time high of RMB 941.08 and accumulating a 723% gain, the company issued a risk warning last night stating that fundamentals remain unchanged, new products are still in development, and their short-term impact on earnings is limited. In early trading today, the stock dropped more than 15%, briefly falling below RMB 800.
Bitcoin is currently consolidating within the range of $92,000 to $94,000. On-chain data shows reduced transfers from large holders to exchanges, alleviating selling pressure. CryptoQuant noted that if this trend continues, BTC could rebound to $99,000 or even $112,000. According to Man of Bitcoin, BTC remains above its upward trend line, and a breakout above the wedge pattern could push it toward the $96,962–$102,432 range. However, bearish forces remain strong. Analyst Astronomer has initiated a short position at $92,700, targeting a retest of $87,700. Killa suggested that Bitcoin might spike to $94,000 or higher in the short term but warned of a potential pullback afterward. He plans to add positions between $95,000 and $98,000 and forecasts Bitcoin could fall to $70,000 or even $60,000 next year. Ted also pointed out that the current trajectory bears striking similarities to the previous cycle; should history repeat itself, Bitcoin would peak near $100,000 before crashing below $70,000. In prediction markets, traders generally assign only a 30% probability of Bitcoin surpassing $100,000 by year-end. Bloomberg analyst Mike McGlone warned that a new “Santa Claus rally” may not materialize, suggesting BTC could end the year below $84,000. Market participants are now closely watching whether BTC can hold support in the $90,000–$91,000 zone. A breakdown could test the lower boundary of the current range, while stabilization might lead to another attempt at breaking resistance at $94,000.
For Ethereum, market sentiment oscillates between ETF inflows and technical pressures. Despite net inflows into spot ETFs recovering to $21.5 billion, prices remain constrained by key resistance levels. Ali noted two robust layers of token support below ETH: one at $3,150, where 2.8 million tokens are accumulated, and another at $2,800, with 3.6 million tokens held. Glassnode data identifies critical support at $2,770. Regarding future movements, Delphi Digital analyst that1618guy expressed optimism, stating that ETH has secured its daily crossover and completed a retracement. If Bitcoin breaks above $94,000, Ethereum could follow suit, targeting the $3,600–$3,800 range. Nevertheless, Man of Bitcoin cautioned investors about risks, observing that prices are forming a small bearish triangle, leaving open the possibility of another dip to $3,150. A breach below the trendline would serve as a clear warning signal.
Additionally, Do Kwon’s trial has concluded. The US Attorney’s Office for the Southern District of New York announced that Terraform Labs founder Do Kwon was formally sentenced to 15 years in prison for securities fraud and wire fraud charges. This verdict caused related tokens such as LUNA, LUNC, and USTC to plummet nearly 30% within 24 hours.
2. Key Data (as of 13:00 HKT, December 12)
(Data Sources: GMGN, CoinAnk, Upbit, Coingecko, SoSoValue, CoinMarketCap)
Bitcoin: $92,551 (YTD -1.12%), daily spot trading volume $46.5 billion
Ethereum: $3,253 (YTD -2.5%), daily spot trading volume $24.01 billion
Fear & Greed Index: 29 (Fear)
Average GAS: BTC: 1.2 sat/vB, ETH: 0.04 Gwei
Market Share: BTC 58.46%, ETH 12.2%
Upbit 24-hour trading volume rankings: XRP, ETH, BTC, SOL, BARD
24-hour BTC Long/Short Ratio: 49.95% / 50.05%
Sector Performance: Layer 2 sector up 3.6%, DeFi sector up 3.2%
24-hour Liquidation Data: A total of 89,358 people liquidated globally, with a total liquidation amount of $241 million, including $96.93 million in Bitcoin (BTC), $55.15 million in Ethereum (ETH), and $11.79 million in Solana (SOL).
3. ETF Flows (as of December 11)
Bitcoin ETF: -$77.3419 million
Ethereum ETF: -$42.3734 million
Solana ETF: +$11.02 million
4. Today's Outlook
Binance Alpha to list RaveDAO (RAVE)
Talus Foundation: US airdrop claim portal now open, closing on December 14
Bittensor will undergo its first halving on December 14, at which point the daily issuance of TAO will be reduced to 3,600 tokens.
The U.S. SEC Cryptocurrency Working Group to Host a Roundtable on Financial Regulation and Privacy on December 15
Aptos (APT) will unlock approximately 11.31 million tokens at midnight on December 12, representing 0.83% of the circulating supply, with an estimated value of $19.3 million;
Cheelee (CHEEL) will unlock approximately 20.81 million tokens at 8:00 AM on December 13, representing 2.86% of the circulating supply, with an estimated value of $10.8 million;
Top gainers among the top 100 cryptocurrencies by market capitalization today: Zcash up 8.1%, Aave up 7.7%, MYX Finance up 7.3%, Mantle up 6.7%, MemeCore up 6%.
5. Hot News
CCB responds to account lock due to Dogecoin transfer notes: If high risk is detected, the account will be set to 'no incoming or outgoing transactions' status
DOYR token creator issued nearly 10,000 types of MEME coins via three associated addresses, generating profits exceeding $1.2 million in total
Only one Bitcoin treasury company’s stock has outperformed the S&P 500 so far in 2025
Jupiter to launch stablecoin JupUSD next week
YouTube introduces new option to pay U.S.-based creators using stablecoins
Bloomberg: Coinbase plans to announce the launch of prediction markets and tokenized stocks next week
The '1011 Insider Whale' has increased its Bitcoin long positions by 41 BTC, bringing its total Bitcoin long position to 1,000 BTC.
Do Kwon, founder of Terraform Labs, has been sentenced to 15 years in prison by a U.S. judge.
a16z released '17 Crypto Trends for 2026,' focusing on key areas such as RWA, AI agents, and privacy chains.
Since the launch of its buyback program, Pump.fun has repurchased 13.8% of the circulating supply of the PUMP token.
The Federal Reserve cut interest rates by 25 basis points and expects only one rate cut in 2026.
If SpaceX goes public with a valuation of $1.5 trillion, Elon Musk's net worth will approach $1 trillion.
Sei will partner with Xiaomi to preload Web3 payment applications on new smartphones globally.
