Crypto x Macro Monthly | December 2025
December closed quietly in crypto markets, capping a year of exceptional progress for digital assets. Bitcoin and Ethereum traded largely range-bound through year's end, trailing gold and silver as macro caution and thin holiday liquidity

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Monthly stablecoin volume reached $7.2 trillion in February 2026, surpassing the Automated Clearing House (ACH) network for the first time, which had $6.8 trillion.
ACH is an outgoing payment system...