Optimism fades
What's being bought and sold*
TOP TRENDING ASSETS
*Trading activity in the past 24 hours on the Uphold platform, as of 8 a.m. 11th December 2025.
The combined total of buy and sell percentages can exceed 100% due to customers who engage in both buying and selling the same asset within the 24-hour time frame.
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What’s up
Crypto ETFs Once Again In Demand
U.S.-listed BTC ETFs yesterday saw $224M worth of net inflows.
The bulk of the flows found their way to Blackrock’s IBIT (+$193M) and Fidelity’s FBTC (+$31M), marking another healthy session for big funds that track the spot price of BTC. “Fresh capital poured in for a second straight day, lifting sentiment and reinforcing the view that an institutional appetite is quietly rebuilding,” Bitcoin News said.
Underscoring momentum for crypto ETFs, Bank of America has said it will start recommending such products to wealthy clients starting in January. For BofA, it’s a major shift. Previously, the bank’s policy was to only offer crypto investments upon request. In a statement, BofA said the shift comes in response to client demand.
What's down
After Fed Rate Cut, Bitcoin Surges, Fades, Holds Key Line At $90K
As suspected would be the case, the Federal Reserve came through with a 25-basis-point rate cut on Wednesday afternoon. But it came with a heavy dose of cautious-sounding "wait-and-see" guidance. The result (also widely expected) was that risk assets, such as stocks and cryptocurrencies, surged, at least initially, but then pulled back.
S&P futures were losing ground early Thursday just ahead of the opening bell but some of that seems to be connected with a disappointing earnings report from cloud/software giant Oracle.
Bitcoin rose to as high as $94,500 yesterday afternoon. But as of Thursday at 9:25 a.m. (EST), the largest digital asset was roughy $90,200, down 2% in the past 24 hours.
What's next
Signs Of Heady Times
Bitcoin-focused Twenty One Capital made its much ballyhooed public debut this week, amassing a market capitalization of $4 billion to go along with the $4 billion worth of BTC it holds on its balance sheet. As part of the celebration of its momentous milestone, the company busted out perhaps the splashiest advertisement imaginable — a giant billboard in Times Square. It contained a pro-BTC slogan: “No man should work for what another man can print.”
That central bank money-easing-policies aren’t expansive enough for BTC to sustain a rally might seem counterintuitive considering those words.
But let's give the macro mosaic some time and space. Next spring will bring a new Fed Chair. And because 2026 is an election year in the U.S., with Republicans and Democrats set to battle for control of Congress, the prospect for more and more sizable rate cuts would seem high. For risk assets, that scenario could represent a blessing and a curse.
Traders at the moment are pricing in a “more complex future macro environment,” HashKey Group analyst Tim Sun told Decrypt.
The Trump administration will need looser fiscal policy — and a more dovish Fed — to maintain economic prosperity, Sun explained.
Which means the U.S. could briefly see a policy mix of fiscal stimulus plus monetary easing. “Such a combination is highly prone to rekindling inflation, pushing long-term rates higher again,” Sun warned.
Meanwhile, at another iconic Big Apple location, the New York Stock Exchange, a sculpture in honor of the mysterious BTC creator Satoshi Nakamoto was unveiled to a warm reception. This is not a scenario we ever saw coming and has to be considered as possibly the most prominent acknowledgment of crypto yet by one of earth's most venerated financial institutions (Yahoo Finance).
