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На крипторынке формируется так называемая «зона Златовласки» — ситуация, максимально подходящая для роста биткоина и других цифровых монет, заявили аналитики трейдинговой компании QCP Capital.

Криптобиржа Binance превзошла все остальные централизованные платформы по объему торгов биткоином и альткоинам, а также активности пользователей, сообщили аналитики компании CryptoQuant.

Сингапурская Bitdeer Technologies Group отчиталась о росте хешрейта. Если верить отчету, группа стала крупнейшим майнером биткоина по объему вычислительной мощности в мире, опередив лидера рынка, MARA Holdings.

В Казахстане за последний год закрыли 22 офиса крипообменников, которые работали нелегально. Еще свыше 1100 онлайн‑сервисов, связанных с криптовалютой, были заблокированы, рассказал председатель республиканского Агентства по финансовому мониторингу (АФМ) Жанат Елиманов.  

Сенатор-республиканец от штат Вайоминг Синтия Ламмис (Cynthia Lummis) и сенатор-демократ от штата Орегон Рон Уайден (Ron Wyden) представили законопроект «о ясности регулирования блокчейна» (Blockchain Regulatory Certainty Act).

Пакистан подписал соглашение с американской компанией SC Financial Technologies об использовании долларового стейблкоина USD1 для трансграничных расчетов. SC Financial Technologies аффилирована с компанией семьи президента США Дональда Трампа World Liberty Financial, выпускающей USD1.

Альткоины перестали быть единственными активами для получения прибыли за короткий срок. Розничные инвесторы все больше смещают интерес к спекуляциям с акциями из сектора искусственного интеллекта и робототехники, заявили аналитики компании Wintermute.

Центральный банк Таиланда включил стейблкоины USDT в свою систему мониторинга, чтобы предотвратить их использование иностранными инвесторами на местных платформах, а также для борьбы с отмыванием денег.

За последние два месяца интернет охватила волна мошеннических схем, связанных с инвестициями в криптовалюту. С декабря по январь эксперты BI.Zone Risk Protection обнаружили 701 поддельный сайт в различных доменных зонах, включая российскую.

За последние шесть месяцев крупные публичные компании пополнили свои резервы на 260 000 BTC — до 1,11 млн BTC. Это в три раза превышает объемы майнинга биткоина за этот период (82 000 BTC), сообщили эксперты платформы Glassnode.

Получение выгоды от хранения стейблкоинов, то есть появление криптовалютных депозитов, может привести к созданию «параллельной банковской системы», которая находится в теневом сегменте экономики. Так считает финансовый директор JPMorgan Chase Джереми Барнум (Jeremy Barnum).

On-chain data shows the Bitcoin Sell-Side Risk Ratio has plummeted recently. Here’s what this could suggest for the cryptocurrency.

Bitcoin Sell-Side Risk Ratio Has Fallen To Multi-Year Lows

In a new post on X, Glassnode analyst Chris Beamish has talked about the latest trend in the Bitcoin Sell-Side Risk Ratio, an on-chain indicator that keeps track of the ratio between the sum of all profits and losses realized on the network and the cryptocurrency’s Realized Cap.

The Realized Cap here refers to a capitalization model that calculates BTC’s total value by assuming that the value of each coin in circulation is equal to the price at which it was last transacted on the blockchain.

The last transfer price of any token is likely to represent its cost basis, so the Realized Cap measures the sum of the cost bases of the total BTC supply. In other words, it represents the total amount of capital that the investors have put into the cryptocurrency.

As such, the Sell-Side Risk Ratio tells us about how the amount of profit and loss that Bitcoin investors are realizing compares against the total capital stored in the asset.

Now, here is the chart for the indicator shared by Beamish that shows how its value has changed over the last few years:

As displayed in the above graph, the Bitcoin Sell-Side Risk Ratio shot up to a notable value with the price crash in November. This suggests that investors took a large amount of profit and loss alongside the volatility.

Since this high, the indicator’s value has seen a steep drop and has returned to the lowest level since October 2023. The analyst has noted that this points to “subdued conviction behind distribution at current price levels.”

Typically, market volatility tends to be low when these conditions form, so it only remains to be seen how the price of the cryptocurrency will develop in the near future.

In some other news, demand from the Bitcoin retail investors has been missing recently, as CryptoQuant author IT Tech has pointed out in an X post. The indicator cited by IT Tech is the 30-day change in the Retail Investor Demand, measuring the percentage change in the volume associated with the small hands (transactions valued at less than $10,000).

As is visible in the chart, the 30-day change in the Bitcoin Retail Investor Demand has been declining inside the negative zone recently, implying that the activity of the retail entities has been going down. The indicator’s trend hasn’t changed even after the recent recovery surge.

BTC Price

At the time of writing, Bitcoin is trading around $94,300, up more than 3% over the last 24 hours.

Председатель Strategy Майкл Сейлор (Michael Saylor) заявил в программе What Bitcoin Did, что реальный прогресс биткоина проявляется не в ежедневных графиках, а в криптовалютных инвестициях крупных компаний и готовности банков использовать BTC.

Курс биткоина может приблизиться к психологически важному уровню $100 000 и закрепиться возле него в течение ближайшей недели, заявили аналитики ончейн-платформы Santiment.

As the Senate Banking Committee unveiled the updated draft of the crypto market structure bill, known as the CLARITY Act, another critical battle is unfolding surrounding the GENIUS Act, which focuses on stablecoin regulations. The banking lobby is pressing for significant changes, particularly regarding stablecoin rewards.

Are Big Banks Disrupting Stablecoin Competition?

Summer Mersinger, CEO of the Blockchain Association and a prominent advocate for the crypto industry in Congress negotiations, took to social media platform X (formerly Twitter) to highlight the current state of discussions following the bipartisan passage of the GENIUS Act. 

She claimed that the “Big Bank lobby” is pushing Congress to revisit settled legislation concerning stablecoin rewards, not due to emerging risks but rather to suppress competition that benefits consumers. 

Mersinger stated, “When Big Banks face competition, they don’t improve services. They lobby to handicap alternatives. And the consumer suffers.”

The firm’s CEO pointed out that the average American savings account currently yields only 0.39%, while checking accounts offer an even lower rate of 0.07%. In contrast, the Federal Funds rate hovers between 3.50% and 3.75%. 

She argued that this discrepancy is not merely a product of market forces but stems from a substantial barrier that the major banks have constructed, preventing customers from accessing better returns. 

Mersinger emphasized that the dominance of the six largest US banks, which control assets equivalent to 60% of the country’s Gross Domestic Product (GDP), only reinforces this trend. 

She further stressed that when new technologies arise that can provide consumers with superior returns, the banks’ immediate response is to invoke claims of “systemic risk” while lobbying against these advancements.

Ultimately, Mersinger and her colleagues are advocating for policies that prioritize consumer options. “We urge Congress to listen,” she implored, signaling the importance of the ongoing debate between the two sectors.

Expert Advocates For Fair Returns 

Market expert Omid Malekan also weighed in, criticizing the notion that stablecoin holders should not earn yields, arguing that the interest revenue generated from taxpayer-backed Treasury bills should be directed to average Americans rather than lining the pockets of bank executives and shareholders. 

Malekan called for a broader discussion on capping credit card interest rates and swipe fees, along with the implementation of a windfall profit tax on the net interest margins of banks. He asserted, “An industry this anti-competition and consumer choice should suffer the consequences.”

Support for Malekan’s view was reinforced by recent earnings reports from major banks. This morning, JPMorgan Chase announced $25 billion in net interest income, illustrating the profits generated by not providing higher returns to savers. Malekan dismissed claims that stablecoins paying interest would harm lending as unfounded.

Featured image from DALL-E, chart from TradingView.com

24 декабря 2025 года курс мемкоина PIPPIN достиг исторического максимума. Более 2500% за месяц — столько прибавила в цене монета. В начале 2026 года она вновь торговалась у высоких значений.

While a senator presses the Securities and Exchange Commission (SEC) against Bitcoin (BTC) and other cryptocurrencies in 401(k) plans, Bitwise’s CEO has defended the Trump administration’s push to allow digital assets’ inclusion in retirement funds.

Hougan Slams Bitcoin Restrictions In 401(k)s

On Monday, Bitwise CIO Matt Hougan discussed whether 2026 will be the year investors can own Bitcoin and other cryptocurrencies in 401(k) plans, as the inclusion of digital assets is becoming more common in individual retirement accounts (IRAs).

In an interview, the executive argued that providers are “slow to move,” but noted that the Trump administration’s pro-crypto shift, which removed “what was effectively a ban on Bitcoin from 401(k)s,” has opened the doors.

Hougan pointed out that large firms like Vanguard had strong restrictions but have recently relaxed their stance on Bitcoin investments. He argued that these bans are “ridiculous,” calling BTC “just another asset” that is no more volatile than stocks, such as those of Nvidia.

Does it go up and down? Absolutely. Is there risk in it? Absolutely. But it’s actually less volatile over the last year than Nvidia stock. And you don’t see any rules about banning 401k providers from offering Nvidia stock. That’s not that would seem ridiculous.

Recent K33 Research data showed that Bitcoin recorded the least volatile year in the asset’s history in 2025. Notably, BTC registered its lowest volatility level last year, with just 2.24%.

“So, I don’t know if the 401(k) providers will get all the way to the point of actually putting it in this year. These are very slow moving institutions, but we’re moving in that direction and eventually it’ll be normalized like other assets, which is how it should be treated,” he concluded.

Senator Warren Issues New Warning

Bitwise CEO’s remarks came as Democratic Senator Elizabeth Warren reached out directly to SEC chairman Paul Atkins to question how the Commission intends to protect investors from potential financial risks now that crypto investments are allowed in retirement plans.

As reported by Bitcoinist, the Department of Labor (DOL) rescinded in May a 2022 guidance that discouraged fiduciaries from including cryptocurrency investments in 401(k) retirement plans.

Months later, US President Donald Trump signed an Executive Order (EO) that aimed to allow more private equity, real estate, cryptocurrency, and other alternative assets in 401(k) retirement accounts.

The EO, signed on August 7, 2025, directed the DOL and the SEC to reduce regulatory barriers that prohibited investments in alternative assets in their defined contribution retirement plans.

In a new letter, the anti-crypto senator shared her concerns, cautioning that allowing Bitcoin and other crypto assets into these accounts could enable significant risks. She listed the “volatility associated with cryptocurrencies, the lack of market transparency, and potential conflicts of interest” as reasons to be cautious about introducing these assets into retirement plans.

She also emphasized that 401(k) plans are a vital source of retirement security for most Americans. Therefore, they should not be treated as a “playground for financial risk” that could put investors in vulnerable positions.

Despite Warren’s warnings, multiple US lawmakers have supported the Trump Administration’s efforts. In September, nine House members asked Atkins to provide “swift assistance” in implementing the president’s executive order and work with the DOL to protect workers.

Later, House of Representatives member Troy Downing proposed a bill to codify Trump’s directive, giving “the force and effect of law” and making it easier for investors to access Bitcoin and other alternative assets in their 401(k) retirement plans.

As the Senate Banking Committee prepares for the markup of the anticipated crypto market structure bill, known as the CLARITY Act, an updated draft has been released following extensive negotiations. 

This new version aims to provide a clearer regulatory framework for digital assets, defining oversight responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). 

Major Takeaways From The Crypto Bill’s Draft

The latest draft released on Monday night, includes critical provisions recognized as gains for the industry. Notably, Paul Barron, a market expert, pointed out that the bill now defines “Custodial and Ancillary Staking Services” as a recognized activity, emphasizing that such services are considered “administrative or ministerial.” 

As a result, registered intermediaries will be allowed to facilitate staking for customers while ensuring that individual assets are segregated from the platform’s own funds. However, assets can be pooled with others for efficiency, such as through an omnibus account.

The bill also reinforces the existing status quo concerning anti-money laundering (AML) and know-your-customer (KYC) regulations. Exchanges and brokers will still be required to comply with the Bank Secrecy Act, perform KYC checks, and monitor for any illicit financial activities.

Key wins for consumers include an explicit right to self-custody. Section 105(c) of the bill grants US individuals the right to maintain a hardware or software wallet for their own lawful custody of digital assets. 

Additionally, this section protects the ability to engage in direct peer-to-peer (P2P) transactions using self-custody wallets without the need for financial intermediaries.

Furthermore, the legislation aims to safeguard wallet developers. Section 109 ensures that non-controlling blockchain developers or providers of hardware or software facilitating customer custody will not be classified as money transmitters. 

This provision of the crypto market structure bill protects developers of wallets, such as those from Ledger, Tangem, and MetaMask, from being regulated as financial institutions solely based on their coding efforts.

Critical Insights On DeFi Provisions

Another significant aspect of the bill is its provisions regarding decentralized finance. The Act establishes exclusions that help protect DeFi protocols and developers from being classified as centralized exchanges (CEXs) or brokers. 

Specifically, Section 309 states that individuals will not be subject to the Securities Exchange Act solely for activities such as developing DeFi trading protocols, publishing user interfaces for blockchain systems, or operating nodes.

For consumers using DeFi products and protocols, the Act creates a legal “safe harbor,” allowing continued use of decentralized finance without the imposition of forced intermediaries. However, it is important to note that this does not provide immunity for any illicit financial activities.

Pro-crypto Senator Cynthia Lummis, who led the Republican Party’s negotiations to achieve the best possible results for digital asset growth in the country, sent the following message to her Democratic colleagues on social media: 

After months of hard work, we have bipartisan text ready for Thursday’s markup. I urge my Democrat colleagues: don’t retreat from our progress. The Digital Asset Market Clarity Act will provide the clarity needed to keep innovation in the U.S. & protect consumers. Let’s do this!

As for the crypto bill’s likelihood of passing, Barron suggests a medium-high probability, estimating a 60-70% chance it could become law in early 2026. 

However, the expert asserted that the outcome may hinge on either removing or softening the “Anti-CBDC” provisions or making concessions to banks regarding stablecoin reserves to meet the Senate threshold.

Featured image from DALL-E, chart from TradingView.com 

On-chain data shows tokens aged between 3 and 5 years old have just moved on the Bitcoin network with two large transactions.

3 To 5 Years Old Bitcoin Supply Has Seen Movement Recently

As pointed out by CryptoQuant community analyst Maartunn in a new post on X, two transactions involving old tokens have just occurred on the Bitcoin blockchain. The on-chain metric of interest here is the “Spent Output Age Bands,” which tracks how many tokens that the various coin age groups or “age bands” are moving on the network.

In the context of the current topic, the age band of interest is the one containing coins that have been dormant for between three and five years. Here is the chart for the Bitcoin Spent Output Age Bands shared by Maartunn that shows the data specifically for this cohort:

As is visible in the above graph, the Bitcoin Spent Output Age Bands have captured two large transactions from the 3 to 5 years age band during the past couple of days. The first of these involved 539 BTC, while the second moved 1,566 BTC.

The 3 to 5 years age band corresponds to coins that were purchased between January 2021 and January 2023, essentially covering the cycle spanning over the 2021 bull market and 2022 bear market. Thus, the tokens that have just been moved were held by investors who had been sitting silent since buying in the previous cycle.

“Dormant supply waking up is often a signal—either smart money rotating or early holders exiting,” explained the analyst. It now remains to be seen whether these transactions were a temporary deviation or if long-term holder whales will make more such moves in the near future.

In some other news, CryptoQuant has shared its 2025 review of digital asset exchange activity. One interesting finding is that stablecoins are heavily concentrated on Binance, with the exchange holding a combined $47.6 billion in USDT and USDC reserves. This is equivalent to 72% of the stablecoin holdings across the ten largest exchanges.

Binance also dominated 2025 in spot trading activity, recording close to $7 trillion in volume.

Binance’s dominance of trading volume wasn’t quite as stark as that of its stablecoin reserves, however, as it made up for 41% of the total spot volume among the top 10 platforms. The exchange’s share of the futures trading volume was similar, coming out at 42%.

Overall spot and futures trading volume in the cryptocurrency sector grew during 2025 compared to the end of 2024, but the yearly growth rate declined.

BTC Price

Bitcoin has been moving sideways recently as its price is still trading around the $92,200 level.

Bitcoin has spent several weeks struggling around a pivotal price range, frustrating traders and reinforcing bearish narratives across the market. After failing to reclaim key resistance levels, a growing number of analysts are calling for a broader bear market to unfold. Price action has been choppy, momentum has faded, and volatility has compressed—conditions that often amplify pessimism. Yet beneath the surface, some analysts argue that Bitcoin is no longer behaving as it did in previous cycles.

According to this view, the market structure itself is changing. Long-term holders appear less reactive, sell-side pressure has moderated, and on-chain activity suggests a slower, more deliberate market. Rather than a reflexive risk asset, Bitcoin is increasingly traded and held with a longer time horizon. This shift becomes especially relevant as the policy backdrop evolves in the United States.

The US Senate Banking Committee is scheduled to mark up the crypto market structure bill known as the CLARITY Act on January 15, 2026. This event should not be interpreted as a short-term price catalyst. Instead, it represents a potential inflection point in how Bitcoin is positioned within the US regulatory framework.

While prices remain relatively stable, on-chain data already hints at a market adapting to a more institutional, regulated environment. The implication is clear: Bitcoin may be entering a structurally different phase, even as sentiment remains divided.

On-Chain Signals Point to Patience, Not De-Risking

A report by CryptoQuant, authored by XWIN Research Japan, highlights that Exchange Netflow remains a critical signal in the current environment. Historically, periods of regulatory uncertainty tend to push Bitcoin into exchanges as investors prepare to sell or reduce exposure.

Ahead of the upcoming CLARITY bill discussions, however, this behavior has not materialized. Exchange inflows have stayed relatively muted, suggesting that market participants are not positioning defensively or treating the legislative process as an immediate threat.

SOPR (Spent Output Profit Ratio) reinforces this interpretation. The metric, which measures whether moved coins are sold at a profit or a loss, is hovering around or slightly below the 1.0 threshold. This indicates subdued profit-taking activity. More importantly, it implies that on-chain spending itself remains low. In simple terms, Bitcoin is not being moved aggressively, either to realize gains or to exit positions.

Together, Exchange Netflow and SOPR point to a market posture that is patient rather than defensive. Investors appear willing to hold through uncertainty instead of rotating capital or rushing to de-risk. The time horizon is clearly lengthening.

From this perspective, the CLARITY Act represents more than a policy debate. It marks a potential step toward integrating Bitcoin into the U.S. financial framework as a regulated digital commodity. On-chain data already reflects this shift: before any major price move, Bitcoin is becoming increasingly “sticky,” signaling a transition away from speculative trading and toward institutional-grade holding behavior.

Bitcoin Price Consolidation Continues

Bitcoin price action remains constrained within a well-defined consolidation range, following the sharp correction that began in November. After rejecting from the $120K–$125K region, BTC experienced an impulsive sell-off that found a local bottom near the mid-$80K zone, where demand visibly stepped in. Since then, price has been carving a higher low structure, suggesting that downside momentum is gradually weakening.

On the daily chart, Bitcoin is now attempting to stabilize above the $92K area, which aligns closely with a former support-turned-resistance level. This zone has acted as a pivot throughout the current range and remains critical for short-term direction. A sustained hold above it would strengthen the case for a broader recovery toward the $98K–$100K region, where the declining short-term moving averages converge.

However, the broader trend remains technically fragile. Price is still trading below the 100-day and 200-day moving averages, both of which are sloping downward. This indicates that the medium-term structure has not yet shifted back to bullish. Volume also remains relatively muted, reinforcing the idea that this move is corrective rather than impulsive.

As long as Bitcoin remains trapped between roughly $88K and $95K, the market is likely to remain range-bound. A decisive break above resistance or a loss of current support will be required to resolve this consolidation phase and define the next directional move.

Featured image from ChatGPT, chart from TradingView.com