Crypto Market Slides as BTC, ETH Drop; Audiera Surges on Web3 Growth

I. Crypto Market Overview

Key Takeaways

Macro Environment

The US House is advancing a crypto tax framework with safe harbor for stablecoin payments and deferred staking taxes, aiming to boost adoption. The Federal Reserve's $6.8B liquidity injection and cooling inflation at 2.6% are supporting risk assets. The Bank of Japan's rate hike signals global policy divergence, potentially impacting capital flows into digital assets.

Crypto Market

The crypto market saw broad declines over the past 12 hours, with Bitcoin down 4.43% to $97,474 and Ethereum dropping 9.27% to $3,144.86, pressured by ETF outflows and weak demand. Altcoins mostly fell, with Audiera (BEAT) bucking the trend, up 16.7%, driven by Web3 music platform growth. Midnight (NIGHT) dropped 4.5%, and MemeCore (M) slipped 1.9%. Meme and DeFi sectors underperformed amid risk-off sentiment.

Today's Outlook

No major token unlocks or protocol launches are scheduled for today. Market focus remains on macroeconomic signals and regulatory developments, with participants awaiting tomorrow’s US Q3 GDP and personal income data for further direction.

Fear and Greed Index

96.00% Annual Percentile

28 Fear

Total Crypto Market Cap

$3.01T

0.65%

Total Market Trading Volume

$72.25B

32.98%

Altcoin Season Index

25.00%

Quarterly Percentile

17 / 100

Total Futures Market Open Interest

3.45B

0.69%

Futures

743.56B

1.74%

Perpetuals

II. Industry Updates

Macro-economic Policies

The U.S. House is drafting a new crypto tax framework introducing a safe harbor for stablecoin transactions and delayed taxation on staking rewards, which could boost DeFi participation and enhance crypto market liquidity.

The Federal Reserve will inject $6.8 billion into financial markets this week, increasing total liquidity injections to $38 billion over ten days, potentially supporting Bitcoin price stability and overall crypto market sentiment.

The U.S. unemployment rate rose to 4.6% in November, while core CPI fell to 2.6%. These signals of a cooling labor market and easing inflation may increase expectations for Fed rate cuts, influencing BTC and risk asset flows.

The Bank of Japan raised interest rates by 25 basis points, marking a significant policy shift. This move could strengthen the yen and impact global risk appetite, potentially affecting capital flows into digital assets.

Spot platinum and silver prices surged to multi-year highs, reflecting strong safe-haven demand amid macroeconomic uncertainty. This trend may drive increased interest in digital assets as alternative stores of value.

Cryptocurrency Regulatory Trends

The U.S. House is drafting a new crypto tax framework proposing a safe harbor for stablecoin transactions under $200 and delayed taxation on staking rewards, aiming to align crypto tax rules with traditional securities and boost investor confidence.

The U.S. FDIC now allows banks to engage in crypto transactions, including custody and trading, without prior approval, provided risk controls are in place, potentially increasing institutional participation in digital assets.

A U.S. senator has introduced a bill to exempt small stablecoin payments and offer tax deferral for staking rewards, which could reduce tax burdens and encourage broader crypto adoption.

Russian regulators are discussing new frameworks for cryptocurrency oversight, with future crypto transactions likely to be limited to licensed entities, signaling tighter compliance and potential impacts on cross-border flows.

Audiera (BEAT): Audiera surged 62.8% in 24h to $3.88, reaching a $623M market cap and $150M volume. The rally is driven by strong user engagement in its Web3 music and AI platform, with a new all-time high set in the last 5 hours.

Midnight (NIGHT): Midnight rose 29.1% in 24h, trading at $0.1033. The token's momentum is linked to renewed Cardano community interest and speculation, with trading volume and price both sharply up from recent lows.

MemeCore (M): MemeCore gained 10.8% in 24h to $1.50, with a $1.86B market cap and $16.7M volume. The increase is fueled by its unique Layer 1 meme coin infrastructure and growing on-chain participation incentives.

Smart Money Movements

A whale sold 230,350 AAVE tokens worth $37.59 million within three hours, causing a 10% price drop as funds were converted to stETH and WBTC.

Michael Saylor's firm purchased nearly $1 billion in Bitcoin, but the acquisition was followed by a 4% decline in BTC price, highlighting ongoing market uncertainty.

A smart money address opened a 3x long position on Ethereum with an $89 million investment via Hyperliquid, following a previous $19 million profit in one month.

A whale opened a $61.46 million Bitcoin short position at $87,940.1 with 40x leverage, now facing liquidation risk as the price nears the $88,801.83 threshold.

XRP saw $1.18 billion in ETF inflows since November 2025, supporting a technical breakout and signaling strong institutional interest in the asset.

Events to Watch

Dec 23 (Tue)

US Q3 2025 GDP and Personal Income data will be released, offering key insights into US economic growth and corporate profits.

Dec 26 (Fri)

Bank of Japan to announce interest rate decision; Year’s largest options expiry may drive volatility in $81,000-$93,000 range; MEET48 2026 AI Entertainment & Web3.0 conference in Seoul.

Dec 28 (Sun)

Bitcoin Munari will launch its public token, transitioning from presale to network operations and validator participation.

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