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Ethereum is struggling to regain traction as it continues to trade below the critical $3,200 level, weighed down by persistent selling pressure and growing macro uncertainty. Market sentiment has deteriorated notably in recent weeks, with many analysts increasingly calling for a broader bear market phase.

From a structural perspective, ETH remains below several key technical levels that previously acted as support, reinforcing the perception that downside risks are still present and that bullish momentum remains fragile.

Beyond price action, on-chain data is beginning to confirm this cautious outlook. According to a CryptoQuant report by CryptoOnchain, Ethereum’s network activity has contracted sharply, signaling a meaningful decline in underlying demand. The 7-day Simple Moving Average (SMA) of Active Addresses has fallen to 327,000, marking the lowest reading since May 2025.

This represents a significant pullback from earlier cycle highs and suggests that fewer users are actively interacting with the Ethereum network.

Historically, sustained bullish trends in ETH have been supported by expanding network usage and rising participation. The current decline in active addresses indicates a reduction in network utility, often associated with cooling investor interest and the exit of short-term participants.

Ethereum Network Activity Signals Cooling Demand

According to the CryptoQuant report, the current decline in Ethereum’s Active Addresses represents a sharp pullback from the peak of roughly 483,000 addresses recorded in August. Since that high, network participation has steadily weakened, highlighting a clear loss of momentum in on-chain activity.

This contraction has closely mirrored Ethereum’s market performance over the same period. As active addresses declined, ETH’s price corrected significantly, falling from a cycle high near $4,800 to the current $3,100 area.

The simultaneous drop in both price and network activity is a critical signal. It suggests a reduction in demand for block space and points to a potential exit of retail traders or short-term participants who typically drive spikes in transaction activity during strong bullish phases. When fewer users interact with the network, it often reflects lower speculative interest and diminished transactional demand.

In a healthy and sustainable bull market, rising prices are usually accompanied by expanding network usage, with active addresses trending higher as adoption and participation grow. The current divergence from that pattern indicates a cooling ecosystem rather than an acceleration phase.

For Ethereum to establish a durable price reversal, this metric will be essential to watch. A sustained recovery in Active Addresses would be one of the clearest early signals that demand is returning and that the network is regaining fundamental strength.

Ethereum Weekly Price Structure Shows Critical Inflection Zone

Ethereum’s weekly chart highlights a market caught between long-term structural support and unresolved downside pressure. After peaking near the $4,800–$5,000 region earlier in the cycle, ETH entered a prolonged corrective phase that drove price sharply lower. The subsequent rebound from the $1,500–$1,600 lows marked a clear recovery, but the rally has so far failed to transition into a sustained bullish trend.

Currently, ETH is trading near the $3,150 level, hovering around a key confluence zone. Price is interacting with the 100-week and 200-week moving averages, which historically act as pivotal trend-defining levels. While ETH has managed to reclaim the longer-term moving averages, it continues to struggle with follow-through above them, signaling hesitation from buyers at higher prices.

The structure since mid-2024 resembles a broad consolidation rather than a decisive breakout. Each rally attempt toward the $4,000–$4,500 range has been met with strong selling pressure, producing lower highs on the weekly timeframe. Volume has also declined compared to previous impulsive advances, suggesting weaker conviction behind recent rebounds.

From a structural perspective, holding above the $2,800–$3,000 region remains critical. As long as this zone holds, ETH maintains a constructive higher-low relative to the 2022 bottom. However, failure to build acceptance above the moving averages keeps Ethereum vulnerable to extended consolidation or another corrective leg before a clearer trend emerges.

Featured image from ChatGPT, chart from TradingView.com

Dogecoin has spent much of the past year drifting without a clear narrative, but recent comments from prominent community voices have refocused attention on January as a potentially important period for the meme coin. 

A brief post on X by a Dogecoin supporter known as Jimmy, stating that utility for DOGE is coming in January, is notable because it echoed a longer message from another supporter, BuildrJ, who pointed out that crypto’s next phase must center on real usage rather than hype, and why adding utility to DOGE is overdue.

Focus Shifts To Utility For Dogecoin

The point made by BuildrJ reflects a sentiment that has been building across the market. Many traders now draw a clear line between holding crypto as a trade and actually using it as a tool. 

DOGE, which started its origins as a joke, already functions as a fast and inexpensive payment network. Supporters argue that this foundation gives Dogecoin an advantage over newer meme coins that exist largely as narratives without proven usage.

When Jimmy referred to utility arriving in January, the comment can be interpreted as confidence that Dogecoin’s role as a usable currency is about to gain more visibility, rather than a promise of a single dramatic feature release. 

Dogecoin’s clearest and most established use case is in payments. Over the past year, discussions within the DOGE community and around the Dogecoin Foundation have been focused on making the cryptocurrency more practical for everyday transactions and reinforcing the network’s relevance as a medium of exchange. One recurring theme in recent discussions has been the possibility of DOGE being integrated into X’s long-anticipated payments infrastructure, often referred to as X Money.

If DOGE is actively used rather than merely held, demand becomes more organic and less dependent on short-term enthusiasm. Another area that has featured prominently in community discussions is the arrival of Spot Dogecoin ETFs in the US, although inflows have been lower than expected.

Is A New All-Time High Realistic For DOGE?

From a price perspective, reaching a new all-time high in January would be an extraordinary move. Dogecoin’s previous peak at $0.73 was set during a period of extreme retail participation and euphoria. That environment no longer exists in the same form, as capital inflows are much more crypto selective. This is precisely why the discussion around Dogecoin’s utility has become more important to its price outlook.

January does not need to deliver a new record high for it to be a meaningful month for DOGE. At the time of writing, DOGE is trading around $0.137 and is at risk of losing $0.13 anytime soon. 

From a technical standpoint, sustained hold above the $0.14 price level, accompanied by inflows into Spot Dogecoin ETFs and interest tied to real usage, would already represent a meaningful change in trend for DOGE.

Ethereum is struggling to regain momentum after failing to reclaim the $3,200 level, keeping the market in a fragile equilibrium. Despite several recovery attempts, price action suggests that bulls are now focused less on pushing higher and more on defending current demand zones. This hesitation reflects broader uncertainty across the crypto market, where traders remain cautious amid tightening liquidity and elevated macro risk.

However, beneath the surface, on-chain activity is beginning to tell a more nuanced story. According to Lookonchain, data sourced from Arkham reveals that a major market participant has re-entered aggressively. The so-called 66kETHBorrow Whale, who previously accumulated 489,696 ETH worth roughly $1.5 billion, has started buying Ethereum again as prices declined.

This behavior stands out because it occurred during weakness rather than strength, a pattern typically associated with strategic accumulation rather than short-term speculation.

Whale activity during drawdowns often signals confidence in higher prices over a longer time horizon, even when sentiment remains fragile. While Ethereum still faces technical resistance overhead, the return of large buyers suggests that demand is weak but has not disappeared.

Whale Accumulation Raises Questions Amid Ethereum Weakness

Lookonchain data provides further insight into the recent actions of the 66kETHBorrow whale, highlighting a sequence that has drawn significant attention from the market. Over the past eight hours, the whale borrowed approximately $85 million in USDT from Aave and transferred the funds to Binance.

Shortly after, he withdrew 38,576 ETH, valued at roughly $119.3 million, from the exchange. This rapid movement of capital during a market pullback has raised questions among smaller investors, many of whom are wondering whether this whale is acting on information or conviction that is not yet reflected in price.

Such behavior is often interpreted as deliberate accumulation, particularly when ETH is withdrawn from exchanges rather than left on trading platforms. Exchange outflows generally reduce immediate sell-side liquidity, reinforcing the perception of long-term positioning. However, it is critical to acknowledge the limits of on-chain visibility. These transactions represent only the wallets that have been publicly identified and tracked.

There is no certainty that this whale’s exposure is fully transparent. He could be holding hedges, short positions, or additional long exposure through other wallets, centralized exchanges, or derivatives markets that are not visible on-chain. As a result, while the activity suggests confidence, it should not be interpreted as definitive directional confirmation.

ETH Price Struggles Below Key Moving Averages

Ethereum is currently trading near the $3,150–$3,200 zone after a modest rebound, but the broader technical structure remains fragile. On the daily chart, ETH continues to trade below its 50-day and 100-day moving averages, both of which are now acting as dynamic resistance. The recent bounce stalled near the declining 50-day MA, highlighting the lack of strong follow-through from buyers.

The 200-day moving average, positioned closer to the $3,500 area, remains well above current price levels. This reinforces that Ethereum is still in a corrective phase within a larger macro uptrend. As long as price remains below this long-term trend indicator, upside attempts are likely to face selling pressure from both swing traders and systematic strategies.

Price action over the past weeks shows a series of lower highs following the rejection near $4,000 in October, confirming a short-term bearish market structure. However, ETH has so far defended the $2,800–$2,900 support region, suggesting that buyers are still active at lower levels.

For Ethereum to shift momentum decisively, bulls must reclaim and hold above the $3,300–$3,400 range. Failure to do so keeps downside risks open, with a potential retest of prior demand zones if broader market sentiment deteriorates.

Featured image from ChatGPT, chart from TradingView.com

Bitcoin (BTC) began the new trading week on the back foot, slipping below the $90,000 mark as investors adopted a cautious stance ahead of a dense slate of U.S. economic data and key global central bank decisions.

After reaching an all-time high of $126,000 in October, the world’s top cryptocurrency has struggled to regain momentum, instead entering a period marked by tight ranges, low volatility, and subdued trading volumes.

Market movers appear reluctant to commit to new positions as uncertainty builds around the direction of macroeconomic trends. Bitcoin was trading near $89,600 during early Monday sessions, extending weekend losses and reflecting a broader risk-off mood across global markets.

Bitcoin Volatility Compresses as Technical Levels Tighten

Bitcoin’s recent price behavior has been defined by historically low volatility, with the asset hovering in a narrow band just below $90,000.

Analysts note that such compression often precedes a sharper move. Technical analyst Aksel Kibar has identified a critical setup on the daily chart, suggesting that a decisive breakout or breakdown could be imminent.

On the downside, failure to hold current levels could open the door to a decline toward the $86,000 area, with deeper support seen between $73,700 and $76,500. On the upside, a sustained break above resistance near $94,600 could shift momentum and put the $100,000 level back into focus.

Other traders have echoed calls for patience, advising investors to wait for a confirmed move outside the current range before taking positions.

On-Chain Signals and Liquidity Raise Caution

Beyond chart patterns, on-chain data has reinforced a more cautious outlook. Analysts at CryptoQuant have highlighted weakening demand and selling pressure near key moving averages, suggesting that recent rebounds have lacked conviction.

Declining liquidity following the Federal Reserve’s recent rate cut has also weighed on Bitcoin and the broader crypto market, according to market makers.

Still, not all signals are uniformly bearish. Data from Glassnode shows that some digital asset treasury firms have quietly resumed Bitcoin accumulation, despite prices struggling to stabilize. This mixed backdrop underscores the market’s current indecision.

Macro Data and Central Banks in Focus

Attention now turns to a busy macroeconomic calendar. Investors are watching delayed U.S. jobs data, inflation reports, retail sales figures, and flash PMI readings for clues on growth and interest rate expectations. Speeches from Federal Reserve officials later in the week could further influence sentiment.

Globally, central bank meetings add another layer of uncertainty. Decisions from the European Central Bank, Bank of England, and especially the Bank of Japan, where a rate hike is widely expected, are being closely monitored for their impact on global liquidity.

With volatility compressed and key catalysts approaching, Bitcoin appears poised at a crossroads as markets await clearer signals on economic and policy direction.

Cover image from ChatGPT, BTCUSD chart from Tradingview

The lawsuit between Ripple and the US Securities and Exchange Commission (SEC) had dominated headlines for years, with XRP in the spotlight over its potential classification as a security. Now that the legal dispute is over and XRP has been definitively cleared as non-security, experts argue that Ripple’s greatest success extends far beyond XRP regulation.  

Ripple’s True Victory Beyond XRP Regulation 

A crypto market expert operating under the name “Stellar Rippler” on X has shared a compelling report that reassesses what truly constitutes Ripple’s biggest win. The analyst highlighted that the real win for Ripple was not regulatory approval but an intellectual shift in how the project is perceived. 

The expert highlighted that while he favors XRP, he has historically been skeptical of Ripple’s intentions. However, he stated that the recent approval of the crypto company’s bank charter by the Office of the Comptroller of the Currency (OCC) speaks volumes about Ripple’s long-term vision in the financial sector. 

Last week, on December 12, the OCC granted conditional approval to five crypto-related firms, including Ripple, to obtain national trust bank charters. This achievement marked a significant milestone for Ripple, reinforcing its legitimacy in traditional finance despite the numerous oppositions. 

In his post, the analyst compares XRP and XLM, noting that the debate between the two cryptocurrencies has often been driven by emotion. He said that discussions were frequently centered on conflicts between retail and institutions, accusations of token dumpings, and differing visions for the future. 

According to the expert, XRP and XLM have always been structurally similar, both designed for fast, low-cost settlement, cross-border liquidity, interoperability, and real-world financial infrastructure. However, he notes that the primary difference between the two cryptocurrencies has always been strategy rather than values. 

He explained that while Ripple prioritized tackling regulatory hurdles, banking, and building institutional partnerships first, Stellar focused on grassroots adoption and open networks. With the new OCC bank charter, the expert emphasizes that Ripple’s strategic approach is now clearly validated and undeniable. 

Stellar Rippler highlighted that Ripple did not abandon its crypto principles but took on the regulatory responsibility to ensure its network could operate at scale. He stated that this milestone shows that history favors builders who solve foundational problems rather than those who focus on tribal disputes.  

Stellar Expert Shifts Stance After Ripple Gains OCC Approval 

In a previous post, Stellar Rippler publicly announced a significant change in perspective on Ripple following news that the company had received conditional approval for a national bank charter. He admitted he was wrong in his past views, describing the recent development as a full submission to the highest level of federal and state oversight in the United States. 

The Stellar expert now believes that Ripple is firmly committed to long-term global finance, stating that a company would not take such a path if it were not building something designed to last decades. He added that this milestone represents maturity and legitimacy for Ripple and strengthens confidence in XRP.