A large holder rotated 1,969 BTC, valued at $177.9 million, into 58,149 ETH worth $181.4 million, signaling a shift from Bitcoin into Ethereum. Ethereum traded near $3,118 after a recent rejection at $3.4k, while fund premiums turned positive and exchange netflows stayed negative as investors accumulated, yet overall market structure remained bearish.

Bitcoin underperformed while the S&P 500 and Nasdaq advanced in 2025, with BTC facing roughly a 36% drawdown in the fourth quarter as cross-asset correlations hit yearly lows. BTC's link to equities turned negative, limiting participation in stock rallies and underscoring a decoupling that reshaped traders' macro assumptions.

Pendle’s price recently slid to a $2.02 low and was trading around $2.17, extending a multi‑month downtrend with notable daily and monthly losses. On-chain data indicated that Polychain Capital sold about 4.114 million PENDLE at roughly $2.19 after accumulating near $3.16, realizing an estimated $3.99 million loss amid persistent sell pressure. Technical indicators showed weak momentum and a near-oversold setup, with $2 acting as a key support level and $2.25–$2.50 emerging as potential recovery targets.

Pump.fun's PUMP token has fallen about 30.4% over the past month to $0.002754 after a major holder sold roughly $6.3 million in tokens at a loss. Despite the team conducting daily buybacks in December totaling around $12.7 million, indicators show persistent bearish momentum and a risk of losing support near $0.0025.

Onyxcoin (XCN) spiked 39% from $0.005 support to a local high of $0.00695 before pulling back to $0.0055. Trading volume jumped 219% to $45.53 million and buy volume outpaced sells by 110 million over the past 24 hours, as top holders added 911 million tokens. Momentum gauges showed RVGI at 0.046 while RSI eased to 48.

Major XRP holders accumulated 48 billion tokens, reaching a seven-year high, while wallets holding over 100 million tokens declined 20.6% in eight weeks, according to Santiment data. XRP traded at $2.02, down 8.42% weekly, as technical indicators maintained bearish momentum. Large-order activity sustained for 30 consecutive days, with buy orders dominating market execution for three straight weeks.

XRP holdings on centralized exchanges have declined 34.18% over two months, dropping from 3.95 billion to 2.6 billion tokens as investors shift assets to self-custody. Whale-to-exchange flows decreased from 48,700 in October to approximately 1,000 currently. Newly launched XRP spot ETFs have accumulated $439 million in net assets within two weeks of trading.

The Hyperliquid team transferred 2.6 million HYPE tokens valued at $90.18 million from staking to a spot wallet, data show. HYPE traded at $35.47 at press time, down 0.8% daily but up 7.03% weekly. Despite the transfer and a $344 million cliff unlock, whale demand remained steady with negative spot netflow of -$7.87 million indicating continued accumulation.

A Bitcoin holder sold 500 BTC worth $45.37 million, realizing a $10.5 million loss after acquiring the position at $111,899 in October. Short-term holders realized losses of 10,200 BTC while long-term holders recorded 2,237.152 BTC in losses. Mega-whale entities accumulated over 100,000 BTC for three consecutive days as Bitcoin trades near $90,000.