Daily Crypto Briefing – December 17, 2025

Markets remained volatile today as Bitcoin tested key support levels while regulatory developments and institutional moves shaped sentiment across the crypto landscape.

Top Stories

Bitcoin Volatility Continues - Bitcoin experienced another whipsaw session, briefly reclaiming $90,000 before retreating to around $87,000. The move triggered $148 million in liquidations as traders scrambled to adjust positions. Analysts suggest sell pressure from long-term holders may be nearing exhaustion.

Senate Crypto Bill Progress - Industry insiders met with Senate Banking Committee members to discuss market structure legislation. Separately, senators introduced bipartisan legislation to combat crypto fraud through a federal task force after $9.3 billion in losses.

Hyperliquid Token Burn - Despite erasing $1 billion in token supply, HYPE token continues to face selling pressure, highlighting how quickly sentiment can shift in crypto markets.

Regulation

• Russia Limits Crypto Use - Russia restricts crypto to investment purposes only, ruling out domestic payments and potentially limiting innovation
• Caroline Ellison Update - The former Alameda Research CEO was transferred to community confinement after 11 months in prison
• SAFE Crypto Act - New bipartisan bill targets crypto scams with enhanced federal coordination

Markets & Trading

• ETF Outflows Continue - Bitcoin and Ethereum ETFs saw $582 million in combined outflows despite BitMine adding $140 million in ETH to its treasury
• DTCC Tokenization Pilot - The clearinghouse begins limited Treasury tokenization testing on Canton Network after SEC approval
• HashKey IPO Debut - Hong Kong's largest crypto exchange went public with mixed results, shares dropping 3% despite raising $206 million

DeFi & Technology

• Aave Expansion Plans - The lending protocol charts post-SEC growth strategy focusing on V4 upgrade and real-world asset lending
• XRP DeFi Development - Ripple and SBI are targeting billion-dollar yield streams through new infrastructure partnerships
• Lightning Network Growth - Bitcoin's Layer 2 solution reached new capacity highs as major exchanges add liquidity

Corporate Moves

• Hut 8 AI Deal - The Bitcoin miner's stock surged 25% on a $7 billion AI data center lease backed by Google
• Binance US Strategy - Reports suggest the exchange is mulling new US market approach with CZ potentially reducing his stake
• Tether Password Manager - The stablecoin issuer launched PearPass, a peer-to-peer password manager avoiding cloud storage risks

Quick Hits

• Bhutan pledges $1 billion in Bitcoin for Mindfulness City construction without selling reserves
• Ethereum on-chain activity hits seven-month lows amid mounting sell pressure
• Circle partners with LianLian Global to explore USDC-powered cross-border payments
• Phantom wallet adds Kalshi prediction markets for Solana users
• Bitfinex eliminates trading fees across all products including spot and perpetuals

What to Watch

• Fed Chair Speculation - Trump reportedly considering Christopher Waller for Fed Chair, a crypto-friendly candidate
• Senate Banking Committee - Continued negotiations on comprehensive crypto market structure legislation
• Bitcoin Support Levels - Key technical levels around $86,000-$88,000 as analysts watch for potential breakdown to $80,000
• Altcoin Performance - Major tokens like XRP, DOT, and DOGE testing lower support levels amid broader market weakness
• Institutional Adoption - Growing tokenization initiatives from traditional finance players like DTCC