In Q4 2025, Bitcoin fell by 30% after breaking below $90k, slipping under its 50-week EMA and putting the broader uptrend at risk. Some analysts argue that even a move down to the $60k-$70k area would represent a macro range and potential bottom rather than a classic bear market, despite around 7 million BTC now sitting at a loss.

Crypto market sentiment has slid into "extreme fear" ahead of the Bank of Japan's 19 December rate call, with prior comparable episodes noted in mid-November and Q1 2025. Polymarket indicates consensus for a 25 bps hike in December, while options data shows bearish positioning around $85K. At press time, Bitcoin traded near $87K, with key liquidity levels clustered at $90.8K, $94.5K–$95K, and $83K.

Aave stated on December 16 that the SEC had closed its four-year investigation, referencing a letter the team received in mid-August. Founder Stani Kulechov said the process drained resources and declared "DeFi will win." Following the update, AAVE fell about 4% to $183, while Binance Altcoin Netflow pointed to exchange outflows and possible accumulation below $200.

On 15 December, Strategy purchased 10.6K BTC worth over $980 million, after acquiring another $962 million in Bitcoin the previous week, lifting its total BTC investment above $50 billion. Analysts claim Michael Saylor’s rapid, share-funded accumulation suggests he is positioning for potential BTC-backed banking products, even as critics warn about MSTR stock dilution and the price dropped over 8%.

Bitcoin has underperformed U.S. tech stocks in H2 2025, with the Nasdaq up 17% while BTC fell about 15%, and last week slipping from $94k to below $90k. CPI arrives Thursday (18th) and the BoJ decision Friday (19th December), with Glassnode highlighting a $85.5–$87k liquidation zone and $83k as U.S. spot ETF cost basis, as $94k stands as heavy resistance.

In 2025, a New York Times report alleged that U.S. President Donald Trump and his family profited from dismissed or settled crypto enforcement actions through political contributions and business relationships. The report claimed that one-third of Biden-era crypto cases were dropped, far above the rate in other sectors, and highlighted examples involving Coinbase, Binance, and other firms. SEC Commissioner Hester M. Peirce later argued that many of these cases lacked a proper legal foundation and should not have been filed.

Mantra’s OM token has lost over 99% of its value in 2025 after an April crash, with the project team and exchange OKX trading accusations over what caused the collapse. OKX alleged the team borrowed large amounts of USDT using OM as collateral to inflate the token price before liquidations triggered heavy selling, while Mantra’s CEO denied any ongoing legal battle with the exchange as the project prepares to migrate OM to MANTRA by 15 January 2026.

Aave Labs is under scrutiny from Aave's governance community after a CowSwap integration reportedly redirected swap revenue away from the DAO treasury. One delegate estimated the DAO could lose more than $10 million in annual fee income under the new structure, intensifying debate over who owns the protocol's brand, interfaces, and revenues. While critics accuse Aave Labs of privatizing value that should accrue to tokenholders, the firm argues its long-term development work and products like Aave V4 and GHO still channel revenue back to the DAO.

Bitcoin has traded around $90.2k and stayed under $100k for four weeks, even after a recent dovish U.S. Federal Reserve rate cut. Analysts see potential support from the Fed's shift toward 'stealth QE' into Q1 2026, but flag risks from the 19 December Bank of Japan decision and a mid-January MSCI index review that could still pressure BTC price.