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Банк Канады назвал условия допуска криптоактивов к финансовому рынку страны
Основатель Aave рассказал о планах компании на 2026 год
Bitcoin Speculative Activity Cooling Fast: IFP Shows Steep Slide
On-chain data shows the Bitcoin Inter-exchange Flow Pulse (IFP) has rapidly been going down recently, a sign of cooling derivatives interest.
Bitcoin IFP Has Witnessed A Plunge RecentlyIn a new post on X, CryptoQuant community analyst Maartunn has talked about the trajectory that the Bitcoin IFP has been following recently. The IFP refers to an on-chain indicator that measures the BTC flows taking place between spot and derivatives exchanges.
When the value of this metric is going up, it means investors are ramping up transactions to derivatives platforms. Such a trend can be a sign that demand for speculation is on the rise.
On the other hand, the indicator witnessing a decline implies fewer coins are traveling from spot exchanges to derivatives ones. This kind of trend can suggest traders are lowering their appetite for risk.
Now, here is the chart shared by Maartunn that shows the trend in the Bitcoin IFP and its 90-day moving average (MA) over the past decade:
As is visible in the above graph, the Bitcoin IFP was witnessing an uptrend in the last few months of 2024, but with the start of this year, a reversal in the indicator occurred. The switch to a downtrend meant that its value slipped below the 90-day MA, something that has historically signaled bearish conditions.
Over the course of 2025, the IFP has continued its downward trajectory, but lately, the decline has accelerated, indicating that derivatives interest is cooling off fast.
Two cycles ago, the IFP sliding below its 90-day MA led into the 2018 bear market. In the 2021 bull market, the bear signal on the IFP was initially followed by the second half of that bull run, but then the 2022 bear market took over as the metric failed to recover.
A similar trend has been witnessed this year as well, with Bitcoin exploring new all-time highs (ATHs) despite the IFP suggesting bearish conditions. The recent acceleration in the indicator’s downtrend, however, has been accompanied by a bearish period in the asset’s price. Only time will tell whether this is a repeat of the pattern from the last cycle, or if risk appetite will make a comeback among investors and the IFP will reverse course.
In some other news, the Bitcoin treasury companies have seen their holdings go up recently, despite the drawdown that the market has faced, as pointed out by Glassnode co-founder Rafael in an X post.
From the chart, it’s apparent that since Bitcoin started declining from its ATH above $126,000, the treasury companies have still continued a net upward trajectory. “Not seeing much of the alleged forced selling here despite some equities trading below mNAV,” noted Rafael.
BTC PriceAt the time of writing, Bitcoin is trading around $87,500, down over 7% in the last week.
Михаэль ван де Поппе: Биткоин слишком недооценен по сравнению с золотом
Когда доступ к кошельку под вопросом: что такое заморозка криптоактивов
Visa Launches Stablecoin Settlement For US Financial Institutions With Circle’s USDC
Global payment giant Visa has announced the launch of stablecoin settlement in the United States using Circle’s USDC on the Solana Blockchain. The expansion follows the company’s ongoing efforts to modernize its settlement layer and be at the forefront of the emerging sector.
Visa Expands USDC Settlement To The USOn Tuesday, Visa unveiled the expansion of its stablecoin settlement service to financial institutions in the US, allowing local issuer and acquirer partners to settle with Visa in Circle’s USDC for the first time.
In the statement, the payments giant highlighted that issuers will benefit from faster fund movement over blockchains, seven‑day availability, and enhanced operational resilience across weekends and holidays “without any change to the consumer card experience.”
Initial participants include Cross River Bank and Lead Bank, which have started settling with Visa in USDC on the Solana blockchain. Meanwhile, a wider rollout in the US is planned through 2026.
In addition, Visa shared its plan to utilize Arc, a new Layer 1 blockchain developed by Circle, which is currently in public testnet, for USDC settlement within its network and to operate a validator node once Arc goes live.
The global payments giant underscored that the launch marks a significant milestone in the company’s stablecoin settlement pilot program and strategy to modernize its settlement layer, which underpins global commerce.
Notably, Visa first experimented with USDC settlement in 2021 and became one of the first major payments networks to pilot stablecoin settlement using USDC in 2023. Now, Visa has reported more than 130 stablecoin-linked card issuing programs in over 40 countries.
Last month, the company announced the expansion of its stablecoin settlement in Central and Eastern Europe, the Middle East, and Africa (CEMEA) with a partnership with crypto infrastructure company Aquanow.
“Visa is expanding stablecoin settlement because our banking partners are not only asking about it – they’re preparing to use it,” affirmed Rubail Birwadker, Global Head of Growth Products and Strategic Partnerships, Visa.
“Financial institutions are looking for faster, programmable settlement options that integrate seamlessly with their existing treasury operations. By bringing USDC settlement to the U.S., Visa is delivering a reliable, bank‑ready capability that improves treasury efficiency while maintaining the security, compliance and resiliency standards our network requires,” he added.
Meanwhile, Circle emphasized the importance of integrating fully reserved stablecoins into institutions’ settlement flows. Nikhil Chandhok, Chief Product and Technology Officer at Circle, noted that “it helps card-issuing financial institutions modernize treasury and unlock new services while retaining the transparency and trust that USDC is known for.”
Visa’s New Stablecoin Advisory UnitThis week, Visa also announced the launch of its Stablecoins Advisory Practice (SAP) service by Visa Consulting & Analytics (VCA) for insights and recommendations to guide banks, fintechs, merchants, and businesses on market fit, strategy, and implementation.
The new stablecoins advisory unit is set to offer a suite of services “designed to guide strategy and implementation amid the growing prevalence and stability of stablecoin infrastructure and emerging regulatory standards.”
Notably, it will provide training and market trend programs, including a new Visa University course, strategy development, market entry planning, use case sizing, go-to-market planning, and Technology enablement for stablecoin integration.
Visa affirmed that it recorded a $3.5 billion stablecoin settlement volume as of November 30, which has led businesses to its new Stablecoins Advisory Practice for growth opportunities.
Matt Freeman, senior vice president at the Navy Federal Credit Union, stated that “Stablecoins may represent an opportunity to enhance speed and lower cost in payments, so with the support of Visa, we are evaluating how this technology could fit into our broader strategy to deliver meaningful value to our 15 million members worldwide.”
Finbold Research: В 2025 году Strategy покупала по 641 биткоину ежедневно
Trump Signals Possible Pardon For Convicted Samourai Wallet Co-Founder
United States President Donald Trump said he would review the case of Keonne Rodriguez, a co-founder of the Samourai Wallet, and signaled he might consider clemency.
According to reporters present at a White House exchange, Trump said he would “take a look” and asked that the matter be examined by the Attorney General.
The comment came after federal prosecutors secured guilty pleas and later sent Rodriguez to prison.
Statement On A High-Profile SentencingAccording to the US Attorney’s Office for the Southern District of New York, Rodriguez and a co-defendant, William Lonergan Hill, pleaded guilty to charges tied to running an unlicensed money-transmitting business and related conspiracy counts.
Reports have disclosed that the service was linked to more than $230 million in criminal proceeds. Prosecutors said those transfers were connected in their factual recitation to narcotics trafficking, darknet markets, cyber intrusions, frauds, sanctioned jurisdictions and other criminal activity.
Sentencing And Legal OutcomesBased on court filings and public notices, the guilty pleas were entered in late July 2025 and sentencing took place on November 19, 2025.
The Department of Justice has also pursued forfeiture tied to the amounts it described in court, and fines were assessed at the time of sentence.
These actions were carried out by federal prosecutors in Manhattan, who handled the investigation and prosecution.
Responding to Trump’s remarks, Rodriguez said “This President knows all about lawfare.”
I have always said that the most challenging aspect of getting a pardon for me and Bill would be getting the attention of @realDonaldTrump. He is very busy with many people competing for his attention. Today, thanks to the journalist at Decrypt, the President is aware of our… https://t.co/lmYljfFax9
— Keonne Rodriguez (@keonne) December 15, 2025
Trump Pardon: How A Presidential Review Might Move ForwardThe process for clemency typically involves the Office of the Pardon Attorney at the Justice Department, which vets petitions and may seek input from prosecutors and judges.
The president, however, has broad constitutional authority to grant pardons or commutations for federal offenses.
In this case, press accounts say the president asked that the Attorney General examine the matter, which could lead to a formal review of any clemency petition.
Political And Public ReactionsReports have varied in tone, with some outlets focusing on the scale of the funds prosecutors said were moved — $237 million — and others highlighting the unusual nature of a president publicly saying he would “look into” an active clemency matter shortly after sentencing.
Legal experts note that public comments from a sitting president can speed attention to a case, but they do not guarantee relief.
Opinions among commentators are mixed; some urge careful review while others stress that federal sentences reflect convictions from established court processes.
Featured image from Bloomberg via Getty Images, chart from TradingView
Why Bitcoin’s Current Weakness Is Structural, Not Emotional
Bitcoin has lost the critical $90,000 level and is now hovering near the $86,000 area, a zone that is quickly becoming the last meaningful support in the current structure. The recent decline has unfolded with little resistance from buyers, as bullish participation has largely disappeared from the market. Momentum-driven demand has faded, spot buying remains weak, and rallies are consistently being sold. As a result, a growing number of analysts are openly shifting their outlook toward a bear market scenario.
According to a recent report by on-chain analyst Axel Adler, conditions beneath the surface reinforce this pessimistic view. Derivatives positioning remains firmly negative, indicating that short sellers continue to dominate short-term market dynamics.
At the same time, market sentiment metrics have fallen to levels historically associated with major capitulation phases. Fear is widespread, confidence is fragile, and risk appetite across crypto markets is clearly deteriorating.
The combination of negative futures positioning and extreme investor fear creates a challenging environment for Bitcoin. Rather than signaling an immediate bottom, these conditions suggest that selling pressure remains structurally embedded in the market.
Futures Positioning And Sentiment Signal Deep StressAdler explains that the Bitcoin Positioning Index provides a clear view of who controls the derivatives market. The indicator aggregates changes in open interest and funding rates to identify the dominant direction of futures positioning.
At present, the index sits at -4, firmly in negative territory. This reading corresponds to a bearish regime and aligns with an active downtrend signal. Visually, the chart is dominated by purple bars over the past four weeks, highlighting sustained pressure from short positions and a lack of bullish conviction in derivatives markets.
Negative positioning combined with falling prices confirms that bears remain in control of short-term market dynamics. According to Adler, a meaningful regime shift will only occur if the index returns above zero and the price consolidates above local resistance levels. Without that confirmation, downside risk remains elevated.
The Bitcoin Fear and Greed Index reinforces this bearish backdrop. The index, which tracks market sentiment from extreme fear to extreme greed, has fallen deep into the extreme fear zone and well below the 25th percentile.
The 30-day SMA has dropped to 20, while the 90-day SMA sits near 32, signaling persistent sentiment deterioration since September. While extreme fear alone does not guarantee a reversal, its alignment with negative futures positioning suggests that selling pressure is structural rather than purely emotional.
Bitcoin Tests Critical Support As Downtrend PersistsThe chart shows Bitcoin trading under sustained technical pressure after failing to reclaim higher levels. Price has decisively broken below the medium-term moving averages and is now consolidating around the $87,000–$88,000 zone, a level that previously acted as support during the mid-cycle advance. The rejection from the blue moving average signals that bullish momentum has weakened significantly, while the downward slope confirms a loss of trend strength.
More importantly, Bitcoin is now hovering just above the red long-term moving average, a level that historically acts as a key structural support during broader corrections. The recent bounce from the $85,000–$86,000 area suggests that buyers are still present, but the response lacks conviction. Volume remains muted compared to earlier distribution phases, indicating hesitation rather than aggressive accumulation.
Structurally, the sequence of lower highs since the $120,000 peak remains intact. Until Bitcoin can reclaim the $92,000–$95,000 range and hold above the declining mid-term average, downside risks persist. A clean loss of the long-term support could expose deeper retracement levels toward the low $80,000s.
In the short term, this price behavior reflects a market in repair mode. Bitcoin is no longer trending, but it has not yet shown the strength required to invalidate the corrective structure.
Featured image from ChatGPT, chart from TradingView.com
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