Offshore RMB against the US dollar breaks through the 7 mark, reaching a new high since 2024. Onshore RMB against the US dollar also surpasses 7.01, influenced by a weakening US dollar and China's strong economy. The RMB exchange rate is expected to remain strong, but whether it can stabilize above the 7.0 mark will still need to be watched.

This article summarizes cryptocurrency news as of December 25, 2025, including the latest Bitcoin updates, Ethereum upgrades, Dogecoin trends, real-time cryptocurrency prices, and price forecasts. Major Web3 events today include: 1. The stablecoin market cap surpasses $310 billion, reaching a record high, with Bitwise aiming for $500 billion by 2026; 2. Bitcoin ETFs have experienced outflows of $825 million over five days, with the US being the largest seller; 3. Two major Russian stock exchanges are ready to launch cryptocurrency trading.

Against the backdrop of decreased liquidity during the holiday season, US spot Bitcoin ETFs have once again experienced significant outflows. Data shows a single-day net outflow of $175 million, marking the fifth consecutive trading day of net outflows, reflecting cautious attitudes among institutional investors regarding short-term Bitcoin price movements. According to Farside Investors data, this round of capital outflows is still led by BlackRock's iShares Bitcoin Trust (IBIT), which saw a net outflow of approximately $91.4 million on that day. Grayscale GBTC and Fidelity FBTC experienced outflows of about $24.6 million and $17.2 million, respectively. Spot Bitcoin ETFs from Bitwise, Ark 21Shares, VanEck, and Franklin Templeton also saw simultaneous capital withdrawals. As a result, the total net inflow of spot Bitcoin ETFs has fallen from $62.7 billion to approximately $56.8 billion.

Garrett Jin stated on the X platform that last week's sell-off of AI concept stocks in the US stock market was likely caused by misinterpretation by analysts. This week, the artificial intelligence sector has begun to rebound, indicating that the panic sentiment has ended. ETH has a high correlation with the Nasdaq 100 Index, which may suggest that ETH will bottom out and rebound.

Before and after the Christmas holiday, US Bitcoin ETFs continued to face pressure, with institutional funds accelerating outflows. The latest data shows that over the past five trading days, US spot Bitcoin ETFs have experienced a total net outflow of approximately $825 million, making the US temporarily the largest seller of Bitcoin globally. According to Farside Investors data, on Christmas Eve, US spot Bitcoin ETFs recorded a net outflow of about $175 million again. Although Wall Street continued normal trading, institutional investors chose to reduce risk exposure before the holiday, resulting in continued negative fund flows into Bitcoin ETFs. Since December 15, except for brief positive turns on some trading days, most of the time has seen capital outflows.

Billionaire Elon Musk recently expressed an optimistic outlook on the US economic prospects, drawing significant attention from the Bitcoin community. Musk stated on the X platform that the US economy is expected to achieve "double-digit growth" within the next 12 to 18 months, with the earliest possible achievement by the end of 2026. He also pointed out that if the role of artificial intelligence in boosting productivity and economic growth is fully realized, there is even a possibility of achieving "triple-digit growth" within the next five years. This statement quickly sparked discussions in the crypto market. For a long time, Bitcoin investors have closely monitored macroeconomic trends, Federal Reserve monetary policy, and liquidity changes, as these factors often directly impact Bitcoin prices and overall crypto asset valuations. As market expectations for a rate cut cycle increase, a loose financial environment is seen as a key catalyst supporting risk assets.

Odaily星球日报讯 据新浪报价，离岸人民币兑美元再度升破 7.0 大关。据中国货币网，在岸人民币兑美元升破 7.01 关口，创 2024 年 9 月 27 日以来新高。（金十）

JPMorgan analysts point out that by 2025, retail investors' funds in the US stock market will grow by 53%, reaching $303 billion, becoming the main force driving the stock market rally. Retail trading volume accounts for 20% to 25% of the total, reaching a high of 35% in April, and this momentum is expected to continue into next year.

By 2025, Elon Musk's Department of Government Efficiency implemented massive layoffs, but the number of US government employees decreased by 9% and failed to effectively save costs, with expenditures actually increasing by nearly 6%. Musk had considered establishing a third party but later resumed donations to the Republican Party.

The US Treasury is facing unprecedented pressure. In the fiscal year 2025, the interest payments on the US federal government debt will exceed $1 trillion for the first time, surpassing defense spending and also exceeding Medicare expenditures, setting a record high. This change has sparked widespread discussions about the sustainability of US finances and has also brought significant attention to the role of stablecoins in the macro financial system. Data shows that in the fiscal year 2020, the US net interest expense was only $345 billion, but by 2025, it has approached $970 billion; including all public debt interest, the total officially exceeds $1 trillion. The Congressional Budget Office estimates that over the next ten years, cumulative interest payments will reach $13.8 trillion, nearly double the amount of the past twenty years. Some institutions even warn that in a more pessimistic scenario, annual interest expenses could rise to $2.2 trillion by 2035.

As the large-scale Bitcoin options expiration approaches, the derivatives market structure is changing. Market participants believe that Bitcoin's price is expected to break out of the sideways trading range of $85,000 to $90,000 since December and make a push towards higher levels. Previously, amid a strong US stock market and gold reaching record highs, Bitcoin was confined to a range-bound oscillation for a long time, disappointing many investors. The key reason behind this was the hedging mechanism in the options market. Near the current price, a large number of options are expiring. Options give traders the right to buy or sell Bitcoin at a specific price, while option sellers typically hedge dynamically through spot and futures markets. Their behavior is influenced by "Delta" and "Gamma." When the price approaches the high Gamma zone, traders need to buy and sell frequently to hedge risks, which suppresses price volatility.

Spot gold first broke through $4,500 per ounce, with an increase of over 70% year-to-date, marking the best annual performance since 1979. Central banks around the world have increased gold reserves due to geopolitical risks and dependence on the US dollar, with Russia and China holding the largest reserves.

After the US GDP growth rate in Q3 2025 significantly exceeded expectations, the direction of monetary policy has once again become the market's focus. The latest data shows that the US Q3 GDP annualized growth rate reached 4.3%, significantly higher than the market consensus of 3.3%. Against this backdrop, President Trump publicly urged the Federal Reserve to start cutting interest rates as soon as possible to support economic expansion and unleash stronger growth momentum. In a public statement, Trump said that such strong economic performance itself proves that inflation risks are not out of control, and the Federal Reserve should adopt a more accommodative monetary policy. He criticized the current high interest rate levels, believing that maintaining high rates during an economic acceleration would instead suppress corporate investment and consumer demand, weakening the long-term potential of the US economy. This stance clearly diverges from the Federal Reserve's current policy approach, which centers on "anti-inflation priority."

Japanese Bitcoin asset management company Metaplanet recently disclosed its capital and Bitcoin reserve plans, continuously strengthening market bullish expectations. Several analysts in the Bitcoin fund management field believe that if macro and crypto market conditions align, a significant rise in Metaplanet's stock before 2027 is not just wishful thinking. Bitcoin fund management analyst Hermes Lux predicts that Metaplanet's US OTC stock MPJPY could increase by approximately 1500% by the end of 2027, with a potential phased increase of 402% in 2026. This judgment is based on two key assumptions: first, that Bitcoin prices will maintain an average annual compound growth of about 40% over the next few years; second, that Metaplanet plans to increase its Bitcoin holdings to 100,000 BTC by 2026, and further to approximately 210,000 BTC in 2027.

Under the dual influence of year-end holidays and tightening liquidity, US spot Bitcoin and Ethereum ETFs experienced significant net fund outflows on the eve of Christmas, and market risk aversion sentiment has increased. Data shows that this round of capital withdrawal mainly reflects phased rebalancing and seasonal factors, rather than a fundamental change in institutional outlook on the long-term prospects of cryptocurrencies. According to SoSoValue data, the US spot Bitcoin ETF recorded approximately $188.6 million in net outflows on Tuesday, marking the fourth consecutive trading day of capital outflow. Among them, BlackRock's IBIT was the largest outflow product, with a single-day net outflow of up to $157.3 million. Meanwhile, Fidelity's FBTC, Grayscale's GBTC, and Bitwise's BITB also experienced varying degrees of capital outflows. Overall, the spot Bitcoin ETFs saw a total net outflow of about $497.1 million last week, contrasting sharply with the nearly $287 million net inflow in the previous week.

Despite the US stock market hitting new highs repeatedly this year, Bitcoin (BTC) has significantly underperformed the stock market. However, on-chain data reveals an intriguing signal: in the context of sideways price movement and weak sentiment, Bitcoin whales are still continuously buying, making the market structure appear less pessimistic than it seems on the surface. First, a key change comes from exchange data. Recently, the monthly reserve changes of Bitcoin exchanges have turned negative, indicating that the amount of BTC withdrawn from exchanges exceeds the amount deposited. Typically, Bitcoin flowing out of exchanges is seen as a signal that investors are choosing to hold long-term rather than trade short-term. While this phenomenon can occur in both bull and bear markets, sustained outflows reduce immediate selling pressure and reinforce confidence in Bitcoin’s long-term value.

PANews December 24 News, Trump signed an executive order, and U.S. federal government agencies will be on a three-day holiday from December 24 to December 26. As a result, the U.S. Energy Information Administration (EIA) will postpone the release of this week's crude oil and natural gas inventory data to December 29 (next Monday) at 23:30 and December 30 (next Tuesday) at 01:00, respectively. Additionally, U.S. initial jobless claims data will be released early due to the Christmas holiday on December 24 (today) at 21:30. Investors are advised to stay alert.

ChainCatcher news, according to Jin10, the US Dollar Index has fallen to 97.777, the lowest level since October 3. Meanwhile, the Euro against the US Dollar has risen to a three-month high of 1.180575.

According to ChainCatcher news and Jin10 reports, US President Trump praised the third quarter GDP data in a post on social media, noting that the growth rate reached 4.2%, far exceeding the expected 2.5%. He criticized the market's reaction as abnormal, believing that good news actually led to the stock market remaining flat or falling, as Wall Street is concerned that interest rate hikes could prevent potential inflation. Trump hopes that the new Fed chairman will cut interest rates when the market is doing well, rather than suppressing the market, and stated that the inflation issue will naturally ease and should never be addressed by raising rates to curb a pump.

According to BlockBeats news, on December 24, the Atlanta Federal Reserve released its preliminary forecast for the U.S. GDP in the fourth quarter, estimating a rise of 3%.

BlockBeats news, on December 24, U.S. National Economic Council Director Hassett was interviewed by CNBC, stating that U.S. economic data shows that artificial intelligence productivity is thriving. If GDP growth remains around 4%, we will see monthly job additions recover to between 100,000 and 150,000. The GDP data is a wonderful Christmas gift for the American people.

Odaily News Former FTX US President Brett Harrison has completed a $35 million funding round for his newly founded Architect Financial Technologies, with a valuation of approximately $187 million. Its exchange AX focuses on traditional asset Perptual Futures (stocks and forex), rather than encryption Perptual Futures. The platform is regulated in Bermuda and is only open to non-U.S. institutional investors, as the U.S. has not yet approved perpetual futures products.

The US stock market is expected to close quietly on the last full trading day before the Christmas holiday. Yardeni Research has raised its gold price target for the coming years, expecting it to reach $5,000 by the end of next year and possibly touch $10,000 by the end of 2029.

PANews, December 23 news, according to Jin10 data, the preliminary value of the annualized quarterly real GDP for the third quarter in the United States recorded 4.3%, far exceeding the expected 3.3% and the previous value of 3.8%. The preliminary value of the core PCE price index annualized quarterly rate is 2.9%, in line with market expectations, higher than the previous value of 2.6%. Additionally, the preliminary value of real personal consumption expenditures quarterly rate is 3.5%, significantly higher than the expected 2.7% and the previous value of 2.5%.

The 2025 annual report on the crypto market released by K33 Research indicates that Bitcoin's fundamentals are strong but prices are weak, with the US government and some national pension funds actively investing in Bitcoin. The report believes there are investment opportunities during market adjustments and expects positive performance in 2026, especially under potential loose monetary policy.

Ethereum (ETH) is facing significant phase pressure. Recent data shows that after several weeks of capital inflows, approximately $555 million was withdrawn from Ethereum-related products last week, making it the largest outflow among digital asset funds during that period. This change has significantly cooled market expectations for "Ethereum to dominate the altcoin season in 2026." According to data disclosed by CoinShares, this is the first week of net outflow for Ethereum in a month. Analysts believe that the delay of the Clarity Act at a critical juncture is one of the important factors triggering the capital withdrawal. The flow of funds shows that almost all ETH outflows come from the US market, indicating that the price trend of Ethereum is highly related to the US crypto regulatory environment.

Golden Finance reports that the US Dollar Index DXY has fallen below 98, reaching a new low in 5 days.

Since 2025, the performance of major global assets has shown significant divergence. In the context of investors simultaneously pursuing safe-haven and growth assets, Bitcoin has unexpectedly lagged behind two assets with completely opposite attributes - gold and copper. This phenomenon reflects that, driven by macro uncertainty and the AI boom, market preferences are shifting towards "tangible assets." According to data from the beginning of the year to now, gold, as a traditional safe-haven asset and inflation hedge, has accumulated a rise of 70%, with prices breaking through 4450 USD per ounce, setting a historical high and becoming the strongest performing asset. Meanwhile, copper, regarded as a key material for the global economy and artificial intelligence infrastructure, has risen about 35%, ranking second. In contrast, the S&P 500 index and the Nasdaq index of the US stock market have risen 17% and 21% respectively, the 10-year US Treasury bond has fallen 9%, the US dollar index has dropped nearly 10%, while Bitcoin has decreased by about 6%.

Golden Finance reports that Paul Ciana, a strategist from Bank of America Global Research, pointed out that the ICE Dollar Index against major currencies has shown a "golden cross pattern," indicating that the dollar may strengthen in the coming months. This is the 39th "golden cross pattern" signal since 1970, and previous instances have typically driven the dollar to rise.

BlockBeats news, on December 23, according to Farside monitoring, yesterday the net inflow of the U.S. Spot Ethereum ETF was 84.6 million USD, ending a streak of seven consecutive trading days of net outflows, among which: ETHE net inflow was 53.7 million USD; Grayscale ETH net inflow was 30.9 million USD.

Strategy has recently significantly expanded its USD reserve fund, prompting the market to reassess its financial security. The company announced an additional cash reserve of approximately 748 million USD, bringing the total USD reserve size close to 2.2 billion USD. This fund was first disclosed last December, with its core purpose being to cover dividend expenditures related to preferred shares, which are an important tool used by Strategy for financing and continuously increasing its Bitcoin holdings. From a financial structure perspective, this US dollar reserve is currently sufficient to cover about 31 months of medium-term debt expenditures. Meanwhile, of the approximately 8 billion dollars in debt accumulated by Strategy, most is concentrated in maturities beyond three years, with the earliest repayment time set for 2028. This timing mismatch has significantly alleviated the market's concerns about its liquidity risk in the short term. Analyst James Van Straten pointed out that the core objective of this move is to ease market panic regarding bankruptcy risks and the potential exclusion from the MSCI index.

Golden Finance reports that, according to SoSoValue data, the net inflow for the US Spot XRP ETF yesterday was 13.21 million dollars, while the total net inflow for the US Spot Solana ETF was 7.47 million dollars.

According to ChainCatcher news, Markus Thielen, an analyst at Matrixport, stated that gold prices have repeatedly hit new highs, achieving nearly 80% excess returns relative to Bitcoin over the past year, with remarkable performance in phases. From a macro perspective, the weakening of the US dollar, asset diversification, and the demand for value-storing assets remain several key lines in the current market. However, in this round of market trends, excess returns have been more concentrated in traditional hedging assets like gold, which corresponds to falling interest rates, declining inflation, and an increasing expectation that the market will turn more dovish on the Federal Reserve in 2026. Although BlackRock has been strengthening the narrative of Bitcoin as "digital gold" in recent years, central banks around the world still prioritize gold in their reserve asset allocation. Due to its high volatility, exposure, and certain political sensitivities, Bitcoin is currently difficult to be widely included in official reserve assets. In the medium to long term, the United States

According to ChainCatcher news and beincrypto, Bitcoin financial service company Fold Holdings (NASDAQ: FLD) announced on December 22 that it has been included in the US small-cap benchmark index Russell 2000, becoming the first publicly listed Bitcoin financial service company to be selected, currently holding over 1,500 BTC. At the same time, global index providers

Golden Finance reported that on Monday (December 22), at the New York close (Tuesday, Beijing time 05:59), the offshore RMB (CNH) against the US dollar was reported at 7.0311 yuan, an increase of 31 points compared to last Friday's New York close, with intraday trading overall in the range of 7.0369-7.0298 yuan.

Odaily News Traders are heavily buying Treasury options, betting that the yield on the 10-year U.S. Treasury will rise back to 4% in the coming weeks — a level not reached since late November last year. This bullish bet comes at a time when U.S. Treasury yields have actually ticked up slightly, with the 10-year yield hitting around 4.20% earlier this month before fluctuating to 4.16% on Monday, as investors weigh the latest economic data and look for clues on the future magnitude and timing of rate cuts from Fed officials. Data from the CME on open interest released on Monday showed a significant amount of buying in 10-year Treasury options contracts set to expire in March over the past week. The total premiums paid for this position have been unusually large, totaling about $80 million, and the number of open contracts has surged to 171,153 contracts, spiking within a week.

Golden Finance reports that Google's parent company Alphabet (GOOG.O) has agreed to acquire clean energy developer Intersect Power LLC for $4.75 billion in cash plus assuming existing debts. This is one of the largest deals the company has made to significantly expand its data center capacity to support its AI business. Currently, the aging power grid in the U.S. is struggling to meet the surge in electricity demand not seen in decades due to the development of AI, the construction of new factories, and economic electrification. This acquisition aims to secure more power for Google's data centers. According to previous media reports, Google has held a minority stake in this energy supplier by partnering with Intersect to build a large power plant near its data center campus last year. Sundar Pichai, CEO of Google and Alphabet, stated in a press release: "Intersect will help us expand our capacity as we build new.

BlockBeats news, on December 22, Solstice announced on the X platform that its Token SLX has been opened for public sale at Legion, with a fundraising target of 4 million USD and a cap of 6.5 million USD. The deadline for this public sale is December 25 at 21:00 (UTC+8), and it is not available to users in the UK and the US.

ChainCatcher news, according to Jin10, the US Dollar Index DXY fell 0.5% intraday, currently reported at 98.24. The GBP/USD rose to 1.3457, reaching a new high since October 17.

Golden Finance reports that Japan's Finance Minister Katsuyuki Kitamura has stated: "I have received 'full authorization' to take decisive action on the yen. Actions can be taken based on the US-Japan joint protocol, and we are always ready to act."

According to ChainCatcher news and Jin10 reports, although the dollar softened on Monday, the decline may be limited due to the overall stability of the US Treasury yield curve. Exness strategist Maria Agustina Patti pointed out that the 10-year US Treasury yield is currently close to 4.16%, providing some support for the dollar. As the end of the year approaches, market liquidity continues to thin, increasing the risk of short-term fluctuations in the forex and bond markets. Investors are preparing for the upcoming US GDP and durable goods orders data to be released on Tuesday.

According to Jincai Finance, as the US dollar index falls and technology stocks rise, the price of Bitcoin was boosted this Monday. Currently, the 30-day implied volatility of Bitcoin remains stable at around 45%, which seems to indicate that trading will tend to be flat as the end of the year approaches, while the 30-day implied volatility of Ether has dropped to 70%, marking the lowest level since October 9. The open interest of Bitcoin futures on the Chicago Mercantile Exchange has fallen below 120,000 contracts for the first time since the beginning of 2024, indicating a decrease in institutional participation.

Derek Halpenny, head of forex research at Mitsubishi UFJ, stated that the dollar is expected to continue depreciating in 2026, with a milder decline compared to this year, and the dollar index is projected to fall by about 5%. The main reason is that the Fed may implement multiple rate cuts, while the European Central Bank may keep interest rates unchanged.

As the year-end approaches, the US stock market enters the "Santa Claus Rally" phase, with returns higher than the annual average. In contrast, Bitcoin has entered a period of consolidation due to a slowdown in ETF funding, and analysts suggest controlling positions to wait for direction confirmation. BiyaPay supports flexible trading of Digital Money and US stocks.

BlockBeats news, on December 22, according to Globenewswire, the US-listed company Datavault AI Inc. (DVLT) announced that it has obtained two key US patents, advancing its on-chain content management and tokenization of intellectual property portfolio. The newly issued patents cover breakthrough systems and methods for secure content licensing and tokenization of currency using blockchain technology and smart contracts.