Public companies that heavily invested in cryptocurrencies are now facing significant financial losses. The once promising investment strategy has seen share prices plummet, leaving firms grappling with the aftermath.



What Happened: Companies that converted their corporate cash into&nbsp;Bitcoin <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> or other digital tokens, inspired by Michael Saylor&#8216;s&nbsp;Strategy Inc., have experienced a severe reversal in fortunes. Digital asset treasuries (DATs) were a popular trend in&nbsp;the first half of 2025, causing share prices to soar.



One such firm,&nbsp;SharpLink Gaming Inc., witnessed its stock surge over 2,600% after declaring a shift to buying Ethereum tokens. However, the stock has since dropped 86% from its peak, reducing the company&#8217;s value to less than its digital token holdings.



Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-12-06/how-netflix-beat-paramount-to-win-warner-bros-takeover-deal?srnd=homepage-Americas">reports</a> that the median stock price of&nbsp;US and Canadian-listed companies that&nbsp;transitioned to DATs has decreased by 43% this year. The worst hit were those that invested in smaller, more volatile tokens.



Analysts believe the downfall is due to the non-existent yield from these holdings. &#8220;Investors&nbsp;took a look and understood&nbsp;that there's not much yield&nbsp;from these holdings rather than&nbsp;just sitting on this pile&nbsp;of money, and that's why&nbsp;they contracted,&#8221; B. Riley Securities Analyst Fedor&nbsp;Shabalin told the outlet.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48889304/jpmorgan-forecasts-bitcoin-bottom-anticipates-28-3-trillion-challenge-to-gold-by-2026">JPMorgan Forecasts Bitcoin Bottom, Anticipates $28.3 Trillion Challenge To Gold By 2026</a>



With most DATs&#8217; crypto holdings failing to generate any cash flow, these companies are now finding it difficult to make&nbsp;interest and dividend payments on&nbsp;the debt they incurred to purchase the tokens. This has resulted in a decrease in investor enthusiasm and a decline in capital raising opportunities.



Despite the downturn, some DATs are contemplating acquisitions of&nbsp;smaller DATs that are worth&nbsp;less than their holdings, suggesting potential future activity in this sector.



Why It Matters: The downfall of DATs underscores the risks associated with heavy investment in volatile assets like cryptocurrencies. Companies that jumped on the crypto bandwagon, inspired by early successes, are now facing the harsh reality of a market downturn. 



With no yield from these holdings and a struggle to meet debt obligations, these companies are facing a crisis of investor confidence. 



The potential for acquisitions of smaller DATs indicates that despite the losses, there may still be some belief in the long-term potential of digital assets. However, the immediate future looks challenging for these firms.



Read Next



<a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/48886353/bitcoin-tumbles-deeper-into-bear-territory-hard-won-rally-could-be-on-verge-of-vanishing" target="_blank" rel="noreferrer noopener">Bitcoin Tumbles Deeper Into Bear Territory, Hard-Won Rally Could Be On Verge Of Vanishing</a>

Public Companies' Crypto Strategy Backfires: From 2600% Gains To 86% Losses

Bitcoin is trading just below the $90,000 mark on Saturday as <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/12/49233398/september-pce-report-michigan-consumer-sentiment-rebounds">cooling inflation data</a> is driving risk-off sentiment.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Bitcoin</td><td><a href="https://www.benzinga.com/quote/BTC" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a></td><td>$89,496.98</td></tr><tr><td>Ethereum</td><td><a href="https://www.benzinga.com/quote/ETH" target="_blank" class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a></td><td>$3,024.66</td></tr><tr><td>Solana</td><td><a href="https://www.benzinga.com/quote/SOL" target="_blank" class="ticker-link" data-ticker="SOL" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</a></td><td>$132.33</td></tr><tr><td>XRP</td><td><a href="https://www.benzinga.com/quote/XRP" target="_blank" class="ticker-link" data-ticker="XRP" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</a></td><td>$2.02</td></tr><tr><td>Dogecoin</td><td><a href="https://www.benzinga.com/quote/DOGE" target="_blank" class="ticker-link" data-ticker="DOGE" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</a></td><td>$0.1384</td></tr><tr><td>Shiba Inu</td><td><a href="https://www.benzinga.com/quote/SHIB" target="_blank" class="ticker-link" data-ticker="SHIB" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</a></td><td>$0.058201</td></tr></tbody></table></figure>



Notable Developments:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49235038/trumps-bitcoin-eth-xrp-reserve-isnt-happening-anymore-in-2025-polymarket-traders-predict">Trump&#8217;s Bitcoin, ETH, XRP Reserve Isn&#8217;t Happening Anymore In 2025, Polymarket Traders Predict</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49230608/blackrocks-ibit-bitcoin-etf-sees-record-2-7-billion-exodus">BlackRock&#8217;s IBIT Bitcoin ETF Sees Record $2.7 Billion Exodus</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49234480/blackrocks-larry-fink-says-sovereign-wealth-funds-are-buying-bitcoin-with-purpose">BlackRock&#8217;s Larry Fink Says Sovereign Wealth Funds Are Buying Bitcoin &#8216;With Purpose&#8217;</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49228497/tom-lee-says-eth-is-grossly-undervalued-and-targets-at-least-12000">Tom Lee Says ETH Is &#8216;Grossly Undervalued&#8217; And Targets (At Least) $12,000</a></li>



<li><a href="https://www.benzinga.com/Opinion/25/12/49220061/does-the-fusaka-upgrade-put-a-floor-on-ethereum-prices">Does The Fusaka Upgrade Put A Floor On Ethereum Prices?</a></li>
</ul>



Trader Notes: IncomeSharks <a href="https://x.com/IncomeSharks/status/1996999343082295771">emphasized</a> that real Bitcoin bottoms take time to form, warning traders not to rush since markets typically provide multiple buying opportunities over several months.



Crypto trader Jelle <a href="https://x.com/CryptoJelleNL/status/1996937088244039866">noted</a> that Bitcoin is approaching a retest of the monthly open; if that level breaks, limited support below could send the price toward at least $88,000, making it crucial for bulls to defend.



Crypto Chase <a href="https://x.com/Crypto_Chase/status/1996994378552733779">observed</a> that a planned $94,000 short would have played out, but he skipped the trade as price front-ran the level before moving directly to his target.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49237758/if-strategy-holds-its-bitcoin-mstrs-drawdown-will-be-muted-report">If Strategy Holds Its Bitcoin, MSTR&#8217;s Drawdown Will Be Muted: Report</a></li>
</ul>



Image: Shutterstock

Bitcoin Stuck Below $90,000 As Ethereum, XRP, Dogecoin Extend Losses

Bitcoin <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> is about to get a Wall Street coming out party unlike anything the industry has seen before. On December 9, Twenty One Capital will debut on the New York Stock Exchange under ticker symbol XXI, marking the first Bitcoin native company to trade on the prestigious exchange and positioning itself as the largest Bitcoin treasury firm on the NYSE.



The listing comes after shareholders approved the merger between Twenty One Capital and Cantor Equity Partners Inc. <a href="https://www.benzinga.com/quote/CEP" target="_blank" class="ticker-link" data-ticker="CEP" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/CEP">CEP</a>)</a> on December 3, clearing the final hurdle for what promises to be a watershed moment for crypto&#8217;s integration into traditional finance. The merger is set to close on December 8, with trading beginning just one day later.



<h2 class="wp-block-heading">Leading The Bitcoin Treasury Movement</h2>



Twenty One Capital will launch with approximately 43,514 BTC valued at roughly $4 billion, making it among the top three publicly traded Bitcoin holders globally and the largest specifically on the NYSE. Strategy Inc. <a href="https://www.benzinga.com/quote/MSTR" target="_blank" class="ticker-link" data-ticker="MSTR" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MSTR">MSTR</a>)</a>, formerly known as MicroStrategy, remains the undisputed leader with approximately <a href="https://www.benzinga.com/Opinion/25/12/49204110/bitcoin-whales-accumulate-again-after-the-selloff-does-this-confirm-the-next-bull-cycle">650,000 BTC</a>, while MARA Holdings Inc. <a href="https://www.benzinga.com/quote/MARA" target="_blank" class="ticker-link" data-ticker="MARA" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MARA">MARA</a>)</a> holds around 52,000 BTC.



The company is led by Jack Mallers, founder and CEO of Strike, the Bitcoin Lightning Network payments company. Mallers has become a prominent voice in the crypto industry, most notably for his role in helping El Salvador adopt Bitcoin as legal tender in 2021. His selection as Twenty One Capital&#8217;s CEO signals the company&#8217;s commitment to pure play Bitcoin exposure.



Twenty One Capital has backing from major institutional players, including Tether and Bitfinex as majority owners, alongside significant investments from SoftBank Group and Cantor Fitzgerald. This heavyweight support underscores growing institutional confidence in Bitcoin as a corporate treasury asset.



<h2 class="wp-block-heading">Differentiation Through Bitcoin Per Share Metric</h2>



What sets Twenty One Capital apart from other digital asset treasury companies is its introduction of the Bitcoin Per Share metric, which will allow investors to track the company&#8217;s Bitcoin holdings in real time through onchain proof of reserves. This level of transparency aims to give shareholders verifiable data on their exposure, addressing concerns about opacity that have plagued some competitors.



The company has positioned itself as &#8220;the first Bitcoin native company&#8221; and emphasizes capital efficient Bitcoin accumulation as its core strategy. Unlike Strategy, which still maintains a legacy software business, or mining companies like Marathon that generate Bitcoin through operations, Twenty One Capital plans to focus exclusively on Bitcoin related business lines.



Pre-merger, Cantor Equity Partners raised $585 million through Private Investment in Public Equity financing, while Twenty One Capital sold $100 million in convertible notes. These funds have already been partially deployed to expand the Bitcoin treasury, with Tether contributing an additional 5,800 BTC in July to bring total holdings above 43,000 coins.



<h2 class="wp-block-heading">Entering A Competitive But Growing Market</h2>



The Bitcoin treasury company model has experienced significant growth in 2025, with institutional adoption accelerating as regulatory clarity improves. Strategy remains the dominant player with over 650,000 BTC accumulated through aggressive at-the-market stock offerings and convertible debt issuances.



However, the Bitcoin treasury model faces scrutiny as market dynamics shift. <a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49237758/if-strategy-holds-its-bitcoin-mstrs-drawdown-will-be-muted-report">Strategy&#8217;s drawdown</a> could be muted if it holds its Bitcoin through volatility, raising questions about sustainability as Bitcoin spot ETFs provide simpler exposure options for investors. Critics argue these companies rely on perpetual market enthusiasm rather than fundamental business value.



Twenty One Capital enters this competitive landscape with the advantage of institutional credibility from its Cantor Fitzgerald backing and NYSE listing, potentially attracting conservative investors who prefer the exchange&#8217;s regulatory oversight and 200 year history of customer protections.



<h2 class="wp-block-heading">Timing And Market Context</h2>



The December 9 debut comes during a volatile period for Bitcoin, which has struggled to maintain momentum above $95,000 despite earlier rallies past $100,000 in October. Broader <a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49218460/bitcoins-2025-bull-run-is-over-expert-asserts-but-2026-will-surprise">crypto market sentiment</a> remains cautious, with analysts suggesting Bitcoin&#8217;s 2025 bull run may be over while 2026 could surprise investors.



Twenty One Capital&#8217;s NYSE listing will test whether Wall Street appetite for Bitcoin exposure through equity markets remains strong, or if the model faces headwinds as spot ETFs and direct custody options mature. <a href="https://www.businesswire.com/news/home/20251203945488/en/Twenty-One-Capital-and-Cantor-Equity-Partners-Announce-Expected-Closing-of-Business-Combination-and-NYSE-Listing" rel="nofollow">According to the company</a>, the combined entity will operate under Twenty One Capital, Inc. beginning December 9, 2025.



For investors watching the Bitcoin treasury trend, December 9 marks a significant milestone. Whether Twenty One Capital can deliver on its promise of shareholder value through pure play Bitcoin exposure, or succumbs to the same valuation challenges facing competitors, will likely influence the next wave of corporate crypto adoption. As CoinDesk reports, the firm&#8217;s business will focus on capital efficient Bitcoin accumulation and developing services related to the Bitcoin ecosystem.



Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content or accuracy.

Twenty One Capital Set To Make History On NYSE With $4B Treasury

Switzerland-based ETF issuer 21Shares has launched the first U.S.-traded<a href="https://www.benzinga.com/etfs"> exchange-traded product</a> tracking the price of Sui <a class="ticker-link" data-ticker="SUI" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/SUI-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">SUI</a>)</a>, a fast-growing cryptocurrency, as the surge in crypto ETF launches shows no signs of slowing.



The 21Shares 2x SUI ETF <a class="ticker-link" data-ticker="TXXS" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/TXXS" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TXXS">TXXS</a>)</a> is a leveraged fund designed to deliver twice the daily return of the Sui token, offering investors a high-risk, high-reward vehicle to capitalize on price movements. Russell Barlow, CEO of 21Shares, emphasized the growing demand for simplified digital asset products. He noted that with this ETF, the issuer aims to capitalize on one of the winners rising to the occasion and ushering in the next era of blockchain technology, which is dominated by simplicity.



Sui is a decentralized cryptocurrency that uses a proof-of-stake consensus mechanism to enable peer-to-peer transactions without intermediaries. Its native token is used to pay transaction fees on the network, participate in network governance, and stake. The network has consistently processed over $180 billion in stablecoin transfer volume per month for 4 months in a row and has exceeded $10 billion in 30-day decentralized exchange volume, underscoring its growing adoption.



Funds like TXXS are typically designed for sophisticated active traders; the use of a derivatives-based strategy increases risk beyond that of most simple, long positions. Recently, the U.S. Securities and Exchange Commission blocked several would-be launches of 3x and 5x leveraged ETFs, reinforcing caution in the sector. ETF.com observed that regulators summarily rejected efforts to game Rule 18f-4 by using non-underlying assets for leverage tests.



Setting a rare precedent, TXXS is one of the first crypto-based ETFs to enter the U.S. market as a leveraged product. According to Bloomberg Senior ETF Analyst Eric Balchunas, TXXS is the 74th crypto-based ETF this year and 128th overall, but there could be as many as 80 more within the next 12 months.



The launch follows FalconX&#8217;s acquisition of 21Shares last month, which saw it also unveil its leveraged Dogecoin ETF, the 21Shares 2x Long Dogecoin ETF <a class="ticker-link" data-ticker="TXXD" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/TXXD" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/TXXD">TXXD</a>)</a>, amid a continued broadening of crypto-linked investment products in the U.S. market.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/12/49235848/netflixs-82-billion-warner-bros-deal-could-tilt-this-big-etfs-balance">Netflix&#8217;s $82 Billion Warner Bros Deal Could Tilt This Big ETF&#8217;s Balance</a></li>
</ul>



Photo: photo_gonzo/shutterstock

Sui Token Gets Wall Street Debut With 21Shares' Leveraged ETF

The U.S. Department of Justice is urging a federal judge to impose a full 12-year prison sentence on Terra founder Do Kwon, citing the scale of the multibillion-dollar fraud that triggered one of <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47069373/terraform-labs-founder-do-kwon-pleads-guilty-to-fraud-in-60b-terra-luna-collapse">crypto's worst collapses.</a>



What Happened: Under his August plea deal, Kwon faces a maximum request of 12 years, though the underlying charges of conspiracy to defraud and wire fraud could carry up to 25 years. 



Prosecutors argue the top-end sentence is warranted, noting that Kwon's $40 billion Terra–LUNA implosion caused more damage than several comparable cases.



The DOJ specifically pointed to Sam Bankman-Fried's 25-year sentence as a benchmark, while rejecting comparisons to Celsius founder Alex Mashinsky's 12-year term. They emphasized that Kwon's alleged attempt to flee using a fake passport, combined with the global fallout of Terra's collapse, justified a harsher penalty, Decrypt <a href="https://decrypt.co/351106/trump-doj-wants-terra-founder-do-kwon-behind-bars-12-years-sbf">reported</a> on Friday.



Kwon, extradited from Montenegro after a months-long jurisdictional battle, is scheduled for sentencing on Dec. 11 in Manhattan federal court.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49234480/blackrocks-larry-fink-says-sovereign-wealth-funds-are-buying-bitcoin-with-purpose">BlackRock&#8217;s Larry Fink Says Sovereign Wealth Funds Are Buying Bitcoin &#8216;With Purpose&#8217;</a>



Why It Matters: The DOJ's request comes just as Kwon petitioned the court to <a href="https://decrypt.co/351106/trump-doj-wants-terra-founder-do-kwon-behind-bars-12-years-sbf">limit</a> his sentence to five years, arguing that he has accepted responsibility for his role in the Terra collapse. 



But prosecutors maintain he presided over one of the largest fraud-driven failures in crypto history, wiping out $40 billion in market value and sparking a chain reaction of bankruptcies and contagion across the industry.



UST and LUNA's sudden implosion in May 2022 devastated retail investors, lenders, and hedge funds globally, reshaping the regulatory landscape and fuelling worldwide investigations.



Kwon's sentencing next week will close one of crypto's most high-profile criminal chapters, but its ripple effects continue to influence enforcement trends, stablecoin scrutiny, and institutional risk management.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49237758/if-strategy-holds-its-bitcoin-mstrs-drawdown-will-be-muted-report">If Strategy Holds Its Bitcoin, MSTR&#8217;s Drawdown Will Be Muted: Report</a></li>
</ul>



Image: Shutterstock

Terra Founder Do Kwon Faces Possible 12-Year Prison Term As DOJ Pushes For Maximum Sentence

Major Wall Street indexes were slightly higher by midday Friday, supported by economic data that strengthened expectations of a Federal Reserve interest <a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/12/49233398/september-pce-report-michigan-consumer-sentiment-rebounds">rate cut next week.</a>



The S&amp;P 500 ticked up 0.2% to roughly 6,875 — still about half a percentage point shy of its late‑October high. Tech stocks rose 0.4%, yet remained nearly 2 percentage points below their prior peaks.



The core Personal Consumption Expenditures price index — the Fed's preferred inflation gauge — slowed slightly, dropping from 2.9% to 2.8% year over year in September, a tad below expectations. According to the CME FedWatch tool, markets still place an 87% chance on a 25‑basis‑point cut next week.



The preliminary December consumer survey from the University of Michigan showed an improvement in the overall sentiment, up from 51 to 53.3,&nbsp;with inflation expectations softening further.



Among mega‑cap stocks, Adobe Inc. <a class="ticker-link" data-ticker="ADBE" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/ADBE" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ADBE">ADBE</a>)</a> surged over 5%, eyeing a sixth straight day of gains after slumping more than 50% from its January 2024 highs. Investors are now betting on a strong Dec. 10 earnings report and a potential turnaround in the company&#8217;s AI strategy.



Meanwhile, Netflix Inc. <a class="ticker-link" data-ticker="NFLX" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/NFLX" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/NFLX">NFLX</a>)</a> dropped 3.5% in a volatile session, after announcing a definitive agreement to acquire Warner Bros. Discovery Inc. <a class="ticker-link" data-ticker="WBD" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/WBD" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/WBD">WBD</a>)</a>, including its film and television studios as well as HBO and HBO Max — a transaction valuing Warner Bros. Discovery at $27.75 per share, implying an equity value of roughly $72 billion. Shares of Paramount Skydance Corp. <a class="ticker-link" data-ticker="PSKY" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/PSKY" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PSKY">PSKY</a>)</a> tumbled 7% after the company alleged the auction was biased and potentially rigged in Netflix's favor.



In earnings news, shares of Ulta Beauty Inc. <a href="https://www.benzinga.com/quote/ULTA" target="_blank" class="ticker-link" data-ticker="ULTA" data-exchange="NASDAQ" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ULTA">ULTA</a>)</a> jumped 14% after the company beat analysts' estimates and raised its outlook, while shares of DocuSign Inc. <a class="ticker-link" data-ticker="DOCU" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/DOCU" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DOCU">DOCU</a>)</a> fell 6.5%.



In crypto markets, Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> slipped 2.6% below $90,000, unable to overcome resistance near $95,000. Meanwhile, gold edged up 0.2% to $4,217 an ounce, and crude oil rose 1% to $60 a barrel, amid rising geopolitical risk. 



<h2 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><tbody><tr><td>Major Indices</td><td>Price</td><td>1-day %</td></tr><tr><td>Nasdaq 100</td><td>25,680.72</td><td>0.4%</td></tr><tr><td>Dow Jones</td><td>48,003.72</td><td>0.3%</td></tr><tr><td>S&amp;P 500</td><td>6,873.35</td><td>0.2%</td></tr><tr><td>Russell 2000</td><td>2,524.13</td><td>-0.3%</td></tr></tbody></table><figcaption class="wp-element-caption">Updated by 1:20 p.m. ET</figcaption></figure>



According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:



<ul class="wp-block-list">
<li>The&nbsp;Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VOO">VOO</a>) inched 0.2% higher to $630.40.</li>



<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DIA">DIA</a>) edged 0.2% up to $480.30.</li>



<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/QQQ">QQQ</a>)&nbsp;rose 0.4% to $625.26.</li>



<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/IWM">IWM</a>) eased 0.3% to $251.07.</li>



<li>The&nbsp;Communication Services&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLC">XLC</a>) outperformed, up 1.2%; the&nbsp;HealthCare&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/XLV">XLV</a>) lagged, down 0.5%.</li>
</ul>



<h2 class="wp-block-heading">Russell 1000&#8217;s Top Gainers And Losers On Friday</h2>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Stock Name</th><th>Chg %</th></tr></thead><tbody><tr><td>Ulta Beauty Inc. </td><td>13.39%</td></tr><tr><td>The Cooper Companies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/COO">COO</a>)</td><td>8.18%</td></tr><tr><td>Dollar Tree Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/DLTR">DLTR</a>)</td><td>7.73%</td></tr><tr><td>Dollar General Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/DG">DG</a>)</td><td>7.06%</td></tr><tr><td>Albemarle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/ALB">ALB</a>)</td><td>6.42%</td></tr></tbody></table></figure>



<figure class="wp-block-table is-style-stripes"><table class="has-fixed-layout"><thead><tr><th>Stock Name</th><th>Chg %</th></tr></thead><tbody><tr><td>Paramount Skydance Corp. </td><td>-6.17%</td></tr><tr><td>W. R. Berkley Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/WRB">WRB</a>)</td><td>-5.20%</td></tr><tr><td>Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/VST">VST</a>)</td><td>-3.67%</td></tr><tr><td>Huntington Ingalls Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/HII">HII</a>)</td><td>-3.63%</td></tr><tr><td>Insulet Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PODD">PODD</a>)</td><td>-3.53%</td></tr></tbody></table></figure>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/economic-data/25/12/49231371/buy-the-dip-stocks-to-watch-december-2025-january-2026-what-to-buy">These 2025 Laggards Might Be The Stocks Everyone&#8217;s Buying In Early 2026</a></li>
</ul>



Image created using artificial intelligence via Midjourney.

S&P 500 Flirts With Records, Netflix Drops After Warner Bros Deal: What's Moving Markets Friday?

Strategy's <a class="ticker-link" data-ticker="MSTR" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/MSTR" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/MSTR">MSTR</a>)</a> Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> accumulation has slowed sharply in 2025, but analysts say its newly fortified reserves could drastically limit downside <a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49187757/we-are-not-bitcoin-traders-were-bitcoin-investors-says-strategy-ceo-fong-lee">risk this cycle</a>.



What Happened: A new CryptoQuant <a href="https://cryptoquant.com/insights/research/69304f96ee281d07131bb9d4-03-December-2025-Change-of-Strategy-MSTR-Prepares-for-a-Bear-Market-as-it-Builds?utm_source=twitter&amp;utm_medium=sns&amp;utm_campaign=research&amp;utm_content=crypto-weekly-report">report</a> outlines a major shift in Strategy's treasury approach. 



After years of aggressively raising debt and equity to buy Bitcoin, the company has now built a $1.44 billion U.S. dollar reserve to fully cover all preferred dividends and interest expenses for at least 12 months, with plans to extend this to 24 months.



This marks a transition to a dual-reserve model:



<ul class="wp-block-list">
<li>Long-duration BTC holdings</li>



<li>Short-duration U.S. Dollar liquidity for obligations</li>
</ul>



Crucially, Strategy also disclosed it may sell Bitcoin or use derivatives if needed, a notable change from the previous "never sell" posture. 



While this reduces one of Bitcoin's strongest sources of marginal demand, it also slashes the probability of forced BTC sales during market stress.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49234480/blackrocks-larry-fink-says-sovereign-wealth-funds-are-buying-bitcoin-with-purpose">BlackRock&#8217;s Larry Fink Says Sovereign Wealth Funds Are Buying Bitcoin &#8216;With Purpose&#8217;</a>



Why It Matters: CryptoQuant CEO Ki Young Ju <a href="https://x.com/ki_young_ju/status/1996272140912599220">says</a> if Strategy maintains its ~650,000 BTC stack this cycle, or trims only modestly, the market is unlikely to face anything close to the brutal –65% drawdown of 2022. 



With Bitcoin trading about 25% below its ATH, Ju argues that even a bear phase would likely look more like sideways compression rather than a deep capitulation.



Long-term holders, he says, should avoid panic: today's liquidity profile is far healthier, and structural risk has meaningfully reduced.



<a href="https://x.com/cryptoquant_com/status/1996274730618253644">Data</a> shows the magnitude of Strategy's slowdown:



<ul class="wp-block-list">
<li>134,000 BTC purchased monthly at the 2024 peak</li>



<li>9,100 BTC in November 2025</li>



<li>Just 135 BTC so far this month</li>
</ul>



The newly built 24-month cash buffer signals a defensive stance and preparation for a potentially prolonged consolidation in 2026.



Notably, Saylor's <a href="https://x.com/laurashin/status/1996643896286159236">blended</a> BTC cost basis is roughly $75,000, versus spot prices near $92,000. Over the last 2–4 years, his returns have lagged gold and other major benchmarks. 



Heavy buying near cycle tops, $115,000, $120,000, even $125,000, has not aged well as the market grinds into late-cycle behaviour.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49218460/bitcoins-2025-bull-run-is-over-expert-asserts-but-2026-will-surprise">Bitcoin&#8217;s 2025 Bull Run Is Over, Expert Asserts—But 2026 Will Surprise</a></li>
</ul>



Image: Shutterstock

If Strategy Holds Its Bitcoin, MSTR's Drawdown Will Be Muted: Report

XRP <a class="ticker-link" data-ticker="XRP" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/XRP-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</a> slipped 2% on Friday as Cardano <a class="ticker-link" data-ticker="ADA" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/ADA-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>)</a> and Solana <a class="ticker-link" data-ticker="SOL" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/SOL-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</a> extended their declines, with each chart now approaching critical technical levels that could <a href="https://www.benzinga.com/money/ripple-xrp-price-prediction">determine short-term direction</a>.



<h3 class="wp-block-heading">Solana Drops 5% As Downtrend Remains Firm</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="694" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05121919/sol-dec-5-bz-1024x694.png" alt="" class="wp-image-1199780" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05121919/sol-dec-5-bz-1024x694.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05121919/sol-dec-5-bz-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05121919/sol-dec-5-bz-768x520.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05121919/sol-dec-5-bz-1536x1040.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05121919/sol-dec-5-bz.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/SOLUSD/">SOL Price Prediction (Source: TradingView)</a>



Solana fell about 5% and remains capped beneath a steep downtrend line that has rejected every attempt at recovery.&nbsp;



The latest bounce faded at the trendline and the 20-day EMA near $140, reinforcing this area as the first major barrier.



A dense band of Fibonacci resistance between $141 and $153 has repeatedly stopped upside attempts.&nbsp;



Until Solana clears this zone, rallies are likely to fade rather than trigger sustained momentum.



RSI near 41 shows cooling momentum without signs of exhaustion, consistent with a slow-bleed environment.&nbsp;



If selling continues, price could revisit the earlier base at $122–$121, where buyers stepped in during the previous downturn.



If bulls regain control, the next targets sit at $163 and $173 after clearing the trendline.&nbsp;



<h3 class="wp-block-heading">Cardano Slides 7% And Tests Major Multi-Month Support</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="694" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05121819/image-3-58-1024x694.png" alt="" class="wp-image-1199777" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05121819/image-3-58-1024x694.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05121819/image-3-58-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05121819/image-3-58-768x520.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05121819/image-3-58-1536x1040.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05121819/image-3-58.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/ADAUSD/">ADA Price Dynamics (Source: TradingView)</a>



Cardano declined almost 7% as the chart continues to track a clean downtrend that has been intact since October.&nbsp;



Every attempt to break the trendline has failed, and each bounce has weakened, highlighting fading demand.



Price is testing a heavy support cluster at $0.38–$0.41, an area that anchored several consolidation phases earlier this year.&nbsp;



Buyers are reacting, but momentum remains soft and confidence limited.



The most important reference on the chart is the 2-Year MA Multiplier, which is currently sitting well above price and has turned flat.&nbsp;



Unless ADA breaks its trendline convincingly, sellers are likely to treat each rebound as an exit opportunity.



On the upside, the first levels to watch are $0.43 and $0.48.&nbsp;



Above the trendline, the next zone sits near $0.60.&nbsp;



If support gives way, downside risk extends toward $0.32, the last major accumulation area on the chart.



<h3 class="wp-block-heading">XRP Compresses Inside A Large Triangle As Sellers Hold Control</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="694" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05121824/image-104-1024x694.png" alt="" class="wp-image-1199778" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05121824/image-104-1024x694.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05121824/image-104-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05121824/image-104-768x520.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05121824/image-104-1536x1040.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05121824/image-104.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/XRPUSD/">Price Prediction for XRP (Source: TradingView)</a>



The token is trading inside a broad descending triangle, with lower highs reflecting consistent rejection from a trendline that stretches back to July.&nbsp;



Each rebound has lost momentum sooner than the last, underscoring persistent selling pressure at the top of the structure.



The most important level on the chart is rising support near $1.94.&nbsp;



Buyers have defended this line several times, turning it into a key reference point for sentiment.&nbsp;



A break below it would mark a major shift and remove one of the last structural supports in the pattern.



XRP also remains pinned beneath the Supertrend at $2.41, the first ceiling bulls need to reclaim before any strength narrative becomes credible.&nbsp;



The Parabolic SAR has flipped bearish again, with signals printing above price and momentum still favoring sellers.



Compression is reaching its final stage as the triangle approaches its late-December to early-January apex.&nbsp;



A close above $2.41 opens a path toward $2.90, while a breakdown from the rising base exposes $1.75 to $1.60.&nbsp;



Broader sentiment remains weak, with Bitcoin <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> down about 4.5% and Ethereum <a href="https://www.benzinga.com/quote/ETH-USD" target="_blank" class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a> lower by almost 4%, reinforcing a risk-off backdrop that limits follow-through on altcoin rebounds



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49235038/trumps-bitcoin-eth-xrp-reserve-isnt-happening-anymore-in-2025-polymarket-traders-predict">Trump&#8217;s Bitcoin, ETH, XRP Reserve Isn&#8217;t Happening Anymore In 2025, Polymarket Traders Predict</a></li>
</ul>



Image: Shutterstock

Cardano Crashes 7%, Solana 5% — XRP Is Next If This Support Breaks

Polymarket traders now assign almost zero probability that the <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49027738/trump-established-bitcoin-reserve-and-digital-asset-stockpile-may-be-underwater">Trump administration's proposed national cryptocurrency</a> reserve will become operational in 2025, marking a sharp collapse in confidence after early-year optimism.



<h3 class="wp-block-heading">White House Policy Announced In March But Lacks Execution</h3>



The initiative began on March 6, when the White House <a href="https://www.benzinga.com/25/03/44183572/trump-establishes-strategic-bitcoin-reserve-funded-by-forfeited-assets-i-made-the-promise">issued</a> an executive order establishing a Strategic Bitcoin Reserve and a broader U.S. Digital Asset Stockpile. 



The order instructed federal agencies to consolidate Bitcoin <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> and other seized digital assets and prohibited the government from selling Bitcoin designated for the reserve.



Days later, President Trump said the reserve would eventually include additional assets such as Ethereum <a href="https://www.benzinga.com/quote/ETH-USD" target="_blank" class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a>, XRP <a href="https://www.benzinga.com/quote/XRP-USD" target="_blank" class="ticker-link" data-ticker="XRP" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</a>, Solana <a href="https://www.benzinga.com/quote/SOL-USD" target="_blank" class="ticker-link" data-ticker="SOL" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</a>, and Cardano <a href="https://www.benzinga.com/quote/ADA-USD" target="_blank" class="ticker-link" data-ticker="ADA" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>)</a>.&nbsp;



The remarks sparked brief enthusiasm among retail traders who interpreted the comments as the start of a national accumulation plan.



The order did not authorize government buying, did not allocate public funds, and did not set up a regulatory or custody framework for ongoing accumulation.



Instead, the plan depended solely on seized assets and vague "budget-neutral strategies," leaving no credible path to building a meaningful reserve structure.



<h3 class="wp-block-heading">Analysts Question Viability Of A National Crypto Reserve</h3>



Skepticism surfaced quickly as analysts questioned whether the government could run a sovereign crypto reserve without clear reporting standards, legislative support or basic infrastructure.



Critics warned that consolidating digital assets under federal control could create political risk, fuel speculation, or complicate oversight of the financial system.



Tokens most closely linked to the administration's narrative, including XRP, ADA, and SOL — posted short-lived gains <a href="https://www.coindesk.com/markets/2025/03/07/xrp-doge-ada-slump-9-as-trump-douses-bullish-crypto-reserve-hopes">before</a> giving back ground.



However, there is no indication the policy has been revoked.&nbsp;



No document has superseded the March order, and no reversal has been issued.&nbsp;



The reserve remains active on paper but appears to lack operational depth.



<h3 class="wp-block-heading">Polymarket Prices Collapse As Confidence Evaporates</h3>



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="720" height="568" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05105309/image-103.png" alt="" class="wp-image-1199605" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05105309/image-103.png 720w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05105309/image-103-300x237.png 300w" sizes="(max-width: 720px) 100vw, 720px" /></figure>



<a href="https://polymarket.com/event/us-national-bitcoin-reserve-in-2025?tid=1764948993192">US National Bitcoin Reserve Probability (Source: Polymarket)</a>



Polymarket contracts tracking a functioning U.S. Bitcoin reserve by year-end traded above 60% in February and March but declined throughout the year before ending at 2% in December.



Contracts tied to an XRP reserve <a href="https://polymarket.com/event/us-national-xrp-reserve-in-2025?tid=1764949748599">dropped</a> to 1% after briefly trading above 20% in March.&nbsp;



Markets tracking an Ethereum reserve <a href="https://polymarket.com/event/us-national-ethereum-reserve-in-2025?tid=1764949697305">followed</a> a similar path, falling from roughly 30–40% in early March to 1% in December.



Across all three markets, traders are essentially betting that no credible reserve will materialize — meaning no meaningful accumulation, no public balance sheet, and no institutional framework to manage it.



Without those elements, the idea of a strategic national asset remains a political narrative rather than an executable policy.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/12/49232144/whats-going-on-with-hewlett-packard-shares-friday">What&#8217;s Going On With Hewlett Packard Shares Friday?</a></li>
</ul>



Image: Shutterstock

Trump's Bitcoin, ETH, XRP Reserve Isn't Happening Anymore In 2025, Polymarket Traders Predict

BlackRock <a class="ticker-link" data-ticker="BLK" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/BLK" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/BLK">BLK</a>)</a> CEO Larry Fink on Thursday said the global financial system is undergoing a seismic transformation — from stablecoins and prediction markets to tokenization and regulatory reform, with Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> now playing a <a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49230608/blackrocks-ibit-bitcoin-etf-sees-record-2-7-billion-exodus">central, strategic role</a>.



What Happened: Speaking at The New York Times DealBook Summit, Fink <a href="https://www.youtube.com/watch?v=HeFwIsrtgVQ">said</a> several sovereign wealth funds are actively accumulating Bitcoin, adding at key price levels around $120,000, $100,000, and even the $80,000s. 



These institutions, he stressed, are not treating BTC as a trading instrument but as a long-horizon strategic reserve asset.



"They're buying it with purpose," Fink said, reinforcing his view that Bitcoin is a long-term position, not a speculative trade.



He also reiterated Bitcoin's role as a "fear asset," one investor turn to during geopolitical uncertainty or periods of financial stress. 



Still, he warned that volatility remains high due to leveraged offshore players and speculative flows.



On regulation and lobbying, Fink echoed Jamie Dimon's caution about avoiding the appearance of influence-buying, noting BlackRock splits donations evenly and proceeds carefully.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49228179/bitcoin-below-92000-ethereum-xrp-dogecoin-weaken-ahead-of-inflation-data">Bitcoin Below $92,000, Ethereum, XRP, Dogecoin Weaken Ahead Of Inflation Data</a>



What's Next: Fink sees a future where every asset, stocks, bonds, real estate, is digitized and tokenized, eliminating intermediaries and enabling money to move frictionlessly between digital wallets and investments.



He warned that the U.S. is falling behind countries like India and Brazil in building modern digital financial infrastructure. 



Coinbase CEO Brian Armstrong agreed, arguing that banks are resisting stablecoins to protect profits but will eventually adopt them, and may even issue interest-bearing stablecoins.



On AI, Fink said the world doesn't yet know whether it's overspending or underspending, but demand for compute will continue to explode. 



Major winners, and major failures, are coming, but the U.S. must accelerate or risk losing technological leadership.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49218460/bitcoins-2025-bull-run-is-over-expert-asserts-but-2026-will-surprise">Bitcoin&#8217;s 2025 Bull Run Is Over, Expert Asserts—But 2026 Will Surprise</a></li>
</ul>



Image: Shutterstock

BlackRock's Larry Fink Says Sovereign Wealth Funds Are Buying Bitcoin 'With Purpose'

BlackRock Inc. <a class="ticker-link" data-ticker="BLK" data-exchange="NYSE" href="https://www.benzinga.com/quote/BLK" target="_blank" rel="noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/quote/BLK">BLK</a>)</a> is seeing persistent withdrawals from its iShares Bitcoin Trust <a class="ticker-link" data-ticker="IBIT" data-exchange="NASDAQ" href="https://www.benzinga.com/quote/IBIT" target="_blank" rel="noopener">(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/IBIT">IBIT</a>)</a> as investors pulled more than $2.7 billion over <a href="https://www.benzinga.com/crypto/cryptocurrency/25/11/49089049/etf-expert-blasts-faulty-bitcoin-outflow-chart-as-way-off-but-ibits-slide-toward-43-is-very-real">five consecutive weeks</a>.



<h3 class="wp-block-heading">Largest Outflow Stretch Since IBIT's Launch</h3>



IBIT is <a href="https://www.bloomberg.com/news/articles/2025-12-05/blackrock-bitcoin-btc-etf-loses-2-7-billion-in-longest-outflows-run-ibit">facing</a> its longest run of withdrawals since it began trading in January 2024, Bloomberg reported on Friday.



Bloomberg data shows more than $2.7 billion left the fund over the five weeks through Nov. 28, with another $113 million exiting on Thursday.



The steady pullback follows Bitcoin's <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a> deeper correction in October, when a rapid liquidation erased more than $1 trillion in cryptocurrency market value.



With more than $71 billion in assets, the ETF has been a key vehicle for institutional exposure, making the reversal in flows notable.



The sustained withdrawals also erase the institutional inflow regime that acted as Bitcoin's primary macro advantage for most of the year.&nbsp;



Earlier this week, blockchain analytics firm Glassnode said the pullback shows a "clear transition away from the strong inflow regime that supported price earlier in the year."



<h3 class="wp-block-heading">IBIT Technical Structure Weakens After Trendline Breakdown</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="694" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05085346/image-3-57-1024x694.png" alt="" class="wp-image-1199349" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05085346/image-3-57-1024x694.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05085346/image-3-57-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05085346/image-3-57-768x520.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05085346/image-3-57-1536x1040.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05085346/image-3-57.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/NASDAQ-IBIT/">IBIT Price Analysis (Source: TradingView)</a>



IBIT has slipped below a rising trendline that supported price throughout last year, marking a notable change in structure. 



The breakdown turned former support into resistance and left IBIT trading beneath the major EMAs.



The recent rebound toward $52–$53 appears to be a routine oversold reaction rather than a confirmed reversal.&nbsp;



The 20-day EMA near $53.3 remains the first major barrier.&nbsp;



Failure to close above this level keeps momentum tilted lower.



The $47–$48 region acted as a temporary base, but losing that floor on another rejection may expose IBIT to the broader support range near $44–$45.&nbsp;



RSI remains below 50, reinforcing weak upside momentum.



<h3 class="wp-block-heading">BlackRock Shares Attempt Recovery As Technical Tests Loom</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="694" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05085349/image-101-1024x694.png" alt="" class="wp-image-1199350" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05085349/image-101-1024x694.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05085349/image-101-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05085349/image-101-768x520.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05085349/image-101-1536x1040.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05085349/image-101.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/NYSE-BLK/">BLK Price Prediction (Source: TradingView)</a>



Shares of BlackRock Inc. have bounced from steep October lows near $986 but now face key Fibonacci resistance.&nbsp;



The $1,073–$1,075 area marks the first major hurdle, aligning with the 0.382 retracement of the prior decline.



A larger cluster of resistance sits between $1,100 and $1,127, an area that corresponds with a prior breakdown zone.&nbsp;



Clearing this region would require strong buying conviction and may signal a more durable trend shift.



Support sits around $1,040, followed by psychological backing near $1,000.&nbsp;



Momentum indicators have improved, with the Supertrend flipping positive and the Parabolic SAR now printing below price.



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Image: Shutterstock

BlackRock's IBIT Bitcoin ETF Sees Record $2.7 Billion Exodus

XRP's <a class="ticker-link" data-ticker="XRP" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/XRP-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</a> social sentiment has flipped deeply negative, even as on-chain and ETF data paint a far more <a href="https://www.benzinga.com/money/ripple-xrp-price-prediction">constructive picture</a>.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td><td>Market Cap</td><td>7-Day Trend</td></tr><tr><td>XRP</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.06</td><td>$124.8 billion</td><td>-5.9%</td></tr><tr><td>Bitcoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$90,734</td><td>$1.82 trillion</td><td>-0.3%</td></tr><tr><td>Ethereum</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$3,110</td><td>$377.7 billion</td><td>+3%</td></tr></tbody></table></figure>



Trader Notes: Cryptoinsightuk <a href="https://x.com/Cryptoinsightuk/status/1996563541499736298">highlighted</a> that XRP's higher-time-frame structure remains firmly bullish. The yearly range lows, previously a seven-year resistance, continue to act as major support.



On lower time frames, XRP has printed a higher low from that range, though the lack of a confirmed higher high signals ongoing consolidation or a potential retest of support before any breakout.



A meaningful trend reversal, he said, hinges on breaking the descending trendline and reclaiming $2.30. 



Liquidity conditions and structural strength still point toward a medium-term push to new all-time highs, despite short-term volatility.



Statistics: Santiment <a href="https://x.com/santimentfeed/status/1996704473599598843">data</a> shows XRP is experiencing its strongest Fear, Uncertainty, and Doubt (FUD) levels since October after a 31% two-month decline. 



The last time sentiment was this negative — Nov. 21 — XRP rallied 22% in just three days before momentum cooled, suggesting current conditions may again present a strong contrarian setup.



ETF flows remain a bright spot: SoSoValue data shows U.S. XRP ETFs brought in $12.8 million in net inflows on Dec. 4, even as Bitcoin and Ethereum ETFs saw outflows. 



Assets under management have already reached $881.3 million, making XRP the second-fastest crypto ETF to approach $1 billion, behind only Bitcoin.



Community News: Ripple CTO David Schwartz <a href="https://x.com/JoelKatz/status/1996630615421341764">opened</a> his XRPL Hub to the public, emphasizing ecosystem transparency and reaffirming that protocol upgrades will remain evidence-driven and tightly controlled.



Read Next:&nbsp;



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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49139956/xrp-drops-8-but-why-do-technicals-scream-buy-the-dip">XRP Drops 8%, But Why Do Technicals Scream &#8216;Buy The Dip&#8217;?</a></li>
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Image: Shutterstock

XRP Approaches $2 Again—Here's Why It Just Can't Catch A Break

Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a>-centric decentralized finance protocol Solv Foundation (SOLV) announced Friday that it is integrating with Stellar <a class="ticker-link" data-ticker="XLM" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/XLM-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xlm/usd">XLM</a>)</a>, a cross-border payments network, aiming to turn its USDC <a class="ticker-link" data-ticker="USDC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/USDC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>)</a> liquidity into something more useful.



<h2 class="wp-block-heading">Turning Idle USDC &#8216;Productive?&#8217;</h2>



The launch would enable yield generation for the $200 million worth of USDC supply on Stellar, according to a press release shared with Benzinga.



Solv provides various <a href="https://www.benzinga.com/money/what-is-defi#:~:text=In%20simple%20terms%2C%20DeFi%20involves,use%20of%20a%20centralized%20intermediary.">Bitcoin financial services</a> such as lending, liquid staking and earning interest, helping Bitcoin holders use their idle BTC to generate returns, similar to assets like Ethereum <a class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/ETH-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a> and Solana <a class="ticker-link" data-ticker="SOL" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/SOL-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</a>. As of this writing, Solv had roughly $1.217 billion in total value locked, <a href="https://defillama.com/protocol/solv-protocol">according </a>to DeFiLlama.



As part of the launch, Solv will integrate its BTC+ vault, an automated vault for generating yield on BTC holdings, with Stellar, helping remittance providers, fintech companies and retail users to convert the USDC payment liquidity into yield.



See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/09/47682976/bitcoin-flat-as-fed-policy-meet-looms-ethereum-dogecoin-xrp-decline-analyst-flags-support-where-they-plan-to-load-heavily-on-eth">Bitcoin Flat As Fed Policy Meet Looms; Ethereum, Dogecoin, XRP Decline: Analyst Flags Support Where They Plan To ‘Load Heavily' On ETH</a>



<h2 class="wp-block-heading">&#8216;Next Phase Of Stablecoin Utility&#8217;</h2>



&#8220;On Stellar, we're empowering users and fintechs to unlock productive capital strategies on USDC. This marks the next phase of stablecoin utility, moving from cross-border transfers to capital-efficient DeFi,&#8221; said Ryan Chow, co-founder of Solv.



Stellar, meanwhile, is known for facilitating cross-border transactions, claiming an average settlement time of 5.3 seconds and an average transaction fee of $0.0006718. It has stablecoin deposits worth $223 million, with USDC accounting for <a href="https://defillama.com/chain/stellar">94% </a>of the total.



Price Action: At the time of writing, BTC was exchanging hands at $92,064, up 1.27% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 



Stellar&#8217;s native token XLM traded down 0.47% at $0.2528 at last check. Solv Foundation&#8217;s native token SOLV was down 0.49% to $0.01694.



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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/09/47676978/bitcoin-to-reach-750000-in-the-next-5-years-pantera-capitals-dan-morehead-says">Bitcoin To Reach $750,000 In The Next 5 Years, Pantera Capital's Dan Morehead Says</a></li>
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Photo Courtesy: DIAMOND VISUALS on Shutterstock.com

Bitcoin DeFi Protocol Solv Partners With Stellar To Turn Idle USDC 'Productive' — Next Phase Of Stablecoin Utility?

Fundstrat's Tom Lee on Thursday said Ethereum <a class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/ETH-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a> is "grossly undervalued" relative to Bitcoin <a class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO" href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noopener">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a>, arguing that current valuations ignore long-term adoption trends and structural tailwinds <a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49215764/bitcoins-market-structure-now-resembles-early-2022-cause-for-concern">in digital finance.</a>



<h3 class="wp-block-heading">Lee Outlines $12,000–$62,000 Ethereum Framework&nbsp;</h3>



Speaking at Binance Blockchain Week, Lee said Bitcoin could hit $250,000 within a few months.



He added that if Ethereum's ETH/BTC ratio goes back to its long-term average of 0.0479, ETH would be valued near $12,000.



Lee called this a "huge move," noting that the ratio has held over an extended period.



He added that if Bitcoin reached $250,000 and Ethereum matched its 2021 cycle high ratio of 0.0873, the implied ETH price would be $22,000



This frames it as a reasonable outcome if markets priced Ethereum similarly to its previous peak.



For a longer-term view, Lee said Ethereum could evolve into the "future of finance" and "payment rails of the future."&nbsp;



Under that scenario, he expects an ETH/BTC ratio of 0.25, which implies an Ethereum price of $62,000 at Bitcoin $250,000, indicating a significant structural re-rating.



<h3 class="wp-block-heading">Technical Setup Remains Defensive Despite Bounce</h3>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="694" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05073405/image-3-53-1024x694.png" alt="" class="wp-image-1199212" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05073405/image-3-53-1024x694.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05073405/image-3-53-300x203.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05073405/image-3-53-768x520.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05073405/image-3-53-1536x1040.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/12/05073405/image-3-53.png 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<a href="https://in.tradingview.com/symbols/ETHUSD/">ETH Price Action (Source: TradingView)</a>



Ethereum failed to extend its recent rebound and remains stuck beneath a heavy cluster of resistance levels.



Price is pinned below the 0.5 Fibonacci retracement at $3,123 and the 0.618 at $3,242, which have repeatedly rejected upside attempts.



The chart looks weak because Ethereum is still trading below its major moving averages.



The 20-day is around $3,078, the 50-day is at $3,349, and the 100-day is near $3,550.



These levels act like "ceilings" that block the price from moving higher.



The $3,242–$3,400 region has become the central rejection zone, with sellers defending each attempt to break above it.



One small positive sign is that the Parabolic SAR flipped bullish, which shows early strength after a long period of downward pressure.



It is not a full trend reversal, just a hint that selling is slowing down.



Coinglass data <a href="https://www.coinglass.com/currencies/ETH/spot">shows</a> persistent outflows, with $42 million leaving spot markets on December 5 as investors continued to scale back exposure.&nbsp;



<h3 class="wp-block-heading">Key Levels To Watch</h3>



Losing $2,856 exposes $2,747 and the lower range at $2,618, levels that would unwind recent gains and pressure sentiment.&nbsp;



On the upside, ETH must break $3,242 and reclaim $3,400 to shift the chart from defensive to constructive.&nbsp;



A sustained move toward $3,550 and above the 100-day EMA would mark a trend change, though current signals do not point to that outcome without a catalyst.



Ethereum at $3,000 looks cheap in Lee's macro valuation model, but the chart remains controlled by sellers, with flows, moving averages, and SAR signaling caution.&nbsp;



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Image: Shutterstock

Tom Lee Says ETH Is 'Grossly Undervalued' And Targets (At Least) $12,000

<a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49168722/bitcoin-roars-back-to-91000-counter-trend-rally-is-coming-but-be-patient-analyst-says">Bitcoin remains above</a> $90,000 despite continuing market weakness, with liquidations of $289.05 million over the past 24 hours.



Bitcoin ETFs saw $194.6 million in net outflows on Thursday, while Ethereum ETFs reported $41.6 million in net outflows.



Bitcoin Trading Sideways



Crypto chart analyst Ali Martinez <a href="https://x.com/ali_charts/status/1996732751953711285">highlighted</a> that roughly 300,648 BTC were accumulated around $84,400, marking it as a major support area now being defended.



Michael van de Poppe <a href="https://x.com/CryptoMichNL/status/1996851482549772398">noted</a> Bitcoin is still stuck in the same price band with little directional conviction. 



A breakdown from here could send BTC back toward $85,000 for a potential double-bottom, but structurally the correction appears to be stabilizing.



If $91,500 holds, he expects an attempt at $100,000 in the coming week.



For Ethereum, Martinez <a href="https://x.com/ali_charts/status/1996838448519696723">sees</a> $4,800 as the must-reclaim level. Only a decisive flip of that zone paves the way toward $6,800 and $8,800.



Santiment <a href="https://x.com/santimentfeed/status/1996704473599598843">data</a> shows XRP down 31% in two months and facing the most uncertainty since October. 



Historically, similar fear spikes preceded sharp rebounds, the Nov. 21 panic was followed by a +22% rally in three days, hinting another sentiment-driven opportunity might be forming.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td> Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Bitcoin</td><td><a href="https://www.benzinga.com/quote/BTC" target="_blank" class="ticker-link" data-ticker="BTC" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</a></td><td>$91,420.19</td></tr><tr><td>Ethereum</td><td><a href="https://www.benzinga.com/quote/ETH" target="_blank" class="ticker-link" data-ticker="ETH" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</a></td><td>$3,142.30</td></tr><tr><td>Solana</td><td><a href="https://www.benzinga.com/quote/SOL" target="_blank" class="ticker-link" data-ticker="SOL" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</a></td><td>$137.77&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td></tr><tr><td>XRP</td><td><a href="https://www.benzinga.com/quote/XRP" target="_blank" class="ticker-link" data-ticker="XRP" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</a></td><td>$2.06</td></tr></tbody></table></figure>



The meme-coin sector slumped 4.5% in the past 24 hours in line with broader market weakness.



Martinez also <a href="https://x.com/ali_charts/status/1996811269295219065">flagged</a> $0.20 as Dogecoin's key resistance, where roughly 11.7 billion DOGE cluster.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Dogecoin</td><td><a href="https://www.benzinga.com/quote/DOGE" target="_blank" class="ticker-link" data-ticker="DOGE" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</a></td><td>$0.1449</td></tr><tr><td>Shiba Inu</td><td><a href="https://www.benzinga.com/quote/SHIB" target="_blank" class="ticker-link" data-ticker="SHIB" data-exchange="CRYPTO">(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</a></td><td>$0.058460</td></tr></tbody></table></figure>



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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/12/49218460/bitcoins-2025-bull-run-is-over-expert-asserts-but-2026-will-surprise">Bitcoin&#8217;s 2025 Bull Run Is Over, Expert Asserts—But 2026 Will Surprise</a></li>
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Image: Shutterstock

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