1/12 December summary 🧵
Many metrics reached new all-time highs.
Total adjusted on-chain volume decreased by 5.9% to $670B (BTC: -5.4%, ETH -6.9%): 

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Written by: Ugo Translated by: Luffy, Foresight News In February 2024, I entered the world of Meme coin trading with $80, only to lose it all. I've had this kind of disastrous experience twice.<br/...

Using wallet tracking, he turned $50 into a millionaire at age 18.

There is no eternal winter or summer in crypto; survival is the only narrative.

A Retrospective of Crypto Project Fatalities in 2025: Nearly $700 Million in Funding Raised, Former Star Projects Exit One After Another

The charts speak for themselves, and market sentiment has shifted accordingly. As 2025 draws to a close, we must face reality: Bitcoin has officially entered a bear market.

For months, traders and analysts have debated whether the price action was merely a consolidation phase or a deeper correction. Now, confirmation signals have arrived, not only in price but also in on-chain data, reversals in capital flows, and the convergence of fragmented market structures. While the term "bear market" often triggers panic, understanding the mechanisms behind this downturn is the first step to navigating this difficult period successfully.

This in-depth analysis will break down the factors defining the current landscape at the end of 2025...

Bitcoin has officially entered a bear market: On-chain evidence, fund flows, and how investors can profit.

2/12 Adjusted transaction volume of stablecoins increased by 20.3% to a new ATH of $1.41T; Issued supply increased by 1.7% to a new ATH of $170B, with USDT at 79.2% and USDC at 18.3% respective market share: 

3/12 BTC miner revenue increased by 18.9% to $1.44B, while ETH staker revenue increased by 30.2% to $342M: 

4/12 A total of 47,064 ETH, equivalent to $174.4M, was burned. Since the implementation of EIP-1559 in early August 2021, a total of 4.53M ETH, equivalent to $12.8B, has been burned: 

5/12 Monthly NFT marketplace volume on Ethereum increased by 350.7% to $884.8M. This was mainly due to Pudgy Penguins token launch and OpenSea's token teaser: 

6/12 Legitimate CEX spot volume increased by 6.8% to $2.01T: 

7/12 Monthly net flows of all BTC spot ETFs came in at positive $4.6B: 

8/12 Futures: Open interest: BTC: -9.4%, ETH new ATH: +0.5%; Trading volume: BTC monthly futures volume decreased by 7.4% to $1.96T (ETH +9.6%): 

9/12 CME's open interest of Bitcoin futures decreased by 12.4% $17.6B (daily avg volume new ATH +3.1% to $10.14B): 

10/12 ETH futures monthly volume increased by 9.6% to $1.03T: 

11/12 Options: Open interest: BTC: -36%, ETH: -30.2%. BTC monthly options volume decreased by 28.4% to $79.5B (ETH: +5.6% to $23.1B): 

12/12 As always you can find many of these metrics, and other live metrics, on our Data Dashboard: