On December 25, 2025, the cryptocurrency market was weak. Bitcoin fell 0.23% from the previous day to $87,494.89, while Ethereum rose 0.13% to $2,943.88. Major Altcoin generally declined, with only BNB recording a 0.71% increase. Ripple (-1.10%), Solana (-0.95%), Dogecoin (-0.66%), Cardano (-1.45%), and Tron (-0.63%) all showed declines.
The total market capitalization is approximately $2.9544 trillion, with Bitcoin accounting for 59.13% and Ethereum accounting for 12.03%. Total trading volume in the past 24 hours was approximately $809 billion. Trading volumes in DeFi (-12.64%), stablecoins (-17.83%), and derivatives (-19.49%) all declined, confirming the overall market contraction.
Concurrently, leveraged positions totaling $122.2 million were liquidated, bringing market volatility back into focus. Of all liquidations, 78.7% were short positions, indicating that recent price increases triggered large-scale forced short covering. By exchange, the largest liquidations were at Hyperliquid ($72.2 million), Binance ($69.5 million), and Bybit ($40.5 million), with the majority being short liquidations.
By currency, Bitcoin led the liquidations with $56.22 million, followed by Ethereum ($46.68 million), Solana ($7.71 million), Pepe ($10.74 million), and Bit ($6.07 million). Particularly noteworthy was the concentrated liquidation of short positions across most major cryptocurrencies, reinforcing market expectations that the rebound trend may continue.
On the other hand, Trend Research recently increased its holdings by 46,379 ETH, bringing its total holdings to over 580,000 ETH. Reports suggesting Circle was issuing gold/silver tokens have been confirmed as false, and the official statement confirms that there is no such platform as Circle Metals.
