1/12 January summary 🧵
This will be the final edition of the recap series.
Many metrics reached new all-time highs.
Total adjusted on-chain volume decreased by 10.5% to $600B (BTC: -4.4%, ETH -23%): 

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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 decreased by 6.3% to $1.32T; Issued supply increased by 3.1% to a new ATH of $175.2B, with USDT at 78% and USDC at 19.6% respective market share: 

3/12 BTC miner revenue decreased by 2.8% to $1.4B, while ETH staker revenue decreased by 9.7% to $309M: 

4/12 A total of 33,906 ETH, equivalent to $113.2M, was burned. Since the implementation of EIP-1559 in early August 2021, a total of 4.56M ETH, equivalent to $12.9B, has been burned: 

5/12 Monthly NFT marketplace volume on Ethereum decreased by 41.3% to $519.2M: 

6/12 Legitimate CEX spot volume decreased by 18.2% to $1.65T: 

7/12 Monthly net flows of all BTC spot ETFs came in at positive $4.9B: 

8/12 Futures: Open interest: BTC: +6%, ETH new ATH: +1%; Trading volume: BTC monthly futures volume decreased by 5.9% to $1.84T (ETH -20.7%): 

9/12 CME's open interest of Bitcoin futures increased by 3% $18.2B (daily avg volume new ATH +1.3% to $10.27B): 

10/12 ETH futures monthly volume decreased by 20.7% to $817B: 

11/12 Options: Open interest: BTC: +61%, ETH: +30%. BTC monthly options volume increased by 12% to $89B (ETH: -16.2% to $19.4B): 

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