📈 The State of Bitcoin (December 2025)

Bitcoin is currently showing a "tug-of-war" between buyers and sellers, recently trading in the $86,000–$88,000 range after a brief rejection from the $90,000 psychological barrier.
Key Market Drivers:
Whales vs. Retail: Recent on-chain data shows a fascinating split. While "whales" (large holders) have recently distributed nearly $2.8 billion in BTC, retail and mid-sized wallets are actively "buying the dip," absorbing hundreds of millions in buy-side flow.
Institutional Stability: Despite some ETF outflows, Bitcoin exchange reserves are at record lows. This scarcity is a major "bullish" signal for long-term holders, as it limits the available supply for major sell-offs.
Macro Headwinds: Global liquidity is being squeezed by hawkish signals from the Bank of Japan and uncertainty regarding U.S. crypto legislation, which has been deferred to 2026.
The 2025 Context: 2025 has been a year of maturation. With a crypto-friendly U.S. administration and the establishment of a strategic Bitcoin reserve earlier this year, BTC is increasingly viewed as a "digital gold" hedge against fiscal stress.

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