Cryptocurrencies experienced a significant decline on December 23, 2025, driven by fears of a potential Bank of Japan (BOJ) rate hike and substantial sell-offs by large holders. Bitcoin's price fell by 1.75% to $87,224.28, while Ethereum saw a 2.50% decrease, landing at $2,953.32. The market's fear and greed index plummeted to extreme fear levels, reflecting heightened investor anxiety. Lookonchain reported a notable $15.76 million Ethereum sell-off by a whale, alongside another investor offloading PUMP tokens at a 62% loss. Despite the downturn, notable figures like Tom Lee and Trump Media increased their cryptocurrency holdings, indicating continued long-term confidence in the market's potential.