Written by Omkar Godbole (all times Eastern Time unless otherwise noted)
Last week, CoinDesk issued a warning on the potential for crypto cross-pair movement, even as major tokens and the market as a whole look lackluster against the dollar. Since then, the largest cross by market capitalization, Ether Ethereum$3,315.53 Priced in Bitcoin BTC$92,033.03was delivered and today reached 0.036, the highest price since October 27th.
The ADA/BTC pair also rose, reaching its strongest level since November 20th. BTC$92,033.03 It briefly soared to $94,500 late Tuesday before falling back. ETH, ADA, and privacy coins XMR and ZEC all rose over 7% in 24 hours, while SOL, DOGE, XLM, LINK, and HYPE rose about 2%.
If the Fed cuts rates by 25 basis points, as expected, and, more importantly, Powell strikes a dovish tone, reigniting expectations for further rate cuts next year, the cross pair could extend its gains. For now, the market appears to be anticipating hawkish forward guidance, which should keep 10-year Treasury yields rising.
Beyond the Fed, a pending Supreme Court ruling on the legality of President Donald Trump’s “reciprocal” tariffs could add further instability. A decision will be made at any time.
If the court invalidates the tariffs, it would remove a source of inflation concerns and trade uncertainty, potentially reinforcing the risk-on trend toward the end of the year.
Several investment banks, including Goldman Sachs, have said the Trump administration could still resort to other tools, such as the Section 232 tax, to reimpose trade pressures.
In other policy news, the IMF has warned that stablecoins could pose currency risks to emerging markets, but experts argue that stablecoins are not yet large enough to truly impact the system. In Washington, D.C., the teachers’ union AFT denounced the latest cryptocurrency market bill, warning of “significant risks” to Americans’ retirement plans.
In the traditional market, silver soared to an all-time high of $61.60 per ounce. This year, it has more than doubled. The dollar index remains near 99.00, while the 10-year Treasury yield has risen to its highest level since September 4th. Stay alert.
More information: For an analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today.
what to see
For a more comprehensive list of this week’s events, see CoinDesk’s “Crypto Week Ahead.”
- cryptography
- December 10: Celo’s Jello hard fork introduces fault proofing using ZK to the network.
- macro
- December 10th, 7:00 am: Brazil’s November headline inflation rate year-on-year forecast. 4.49%, month-on-month estimate. 0.09%.
- December 10th, 9:45am: Bank of Canada interest rate decision. Benchmark rate estimate is 2.25%. 10:30am press conference
- December 10th, 2:00 pm: Federal Open Market Committee (FOMC) US interest rate decision (expected to be cut by 25 basis points from 3.5% to 3.75%) and economic forecast. Press conference (watch live) at 2:30 p.m.
- December 10th, 4:30 pm: Brazilian Central Bank interest rate decision. Benchmark rate (previously 15%).
- revenue (estimated based on FactSet data)
token event
For a more comprehensive list of this week’s events, see CoinDesk’s “Crypto Week Ahead.”
- Governance votes and calls
- MoonDAO is voting on MDP-204 to switch to quarterly voting and monthly reporting and overhaul the project system. Voting ends on December 10th.
- December 10th: PancakeSwap hosts an ask me anything (AMA) session with CoinW.
- December 10: Horizen celebrates mainnet launch on Base via livestream.
- unlock
- December 10th: line$0.007928 Release 6.76% of circulating supply worth $14.63 million.
- Activate token
- December 10th: lava$0.2176 Scheduled to be listed on Kraken.
- December 10th: plume$0.02148 It is scheduled to be listed on Coinbase.
conference
For a more comprehensive list of this week’s events, see CoinDesk’s “Crypto Week Ahead.”
- Day 3 of 4: Abu Dhabi Financial Week 2025 (Abu Dhabi)
- Day 1 of 2: Indonesia Blockchain Week 2025 (Jakarta)
market movements
- BTC is up 0.29% since Tuesday at 4:00 PM ET to $92,941.70 (24h: +3.02%).
- ETH rose 1.37% to $3,347.76 (24h: +8.07%)
- CoinDesk 20 rose 0.25% to 2,994.20 (24 hours: +4.48%)
- Ether CESR overall staking interest rate decreased by 1bp to 2.81%
- BTC funding rate is 0.0014% (1.4925% p.a.) on Binance.
- DXY fell 0.1% to 99.12.
- Gold futures fell 0.27% to $4,224.60.
- Silver futures rose 1% to $61.45.
- The Nikkei 225 closed 0.1% lower at 50,602.80.
- The Hang Seng rose 0.42% to close at 25,540.78.
- FTSE rose 0.12% to 9,653.16.
- The Euro Stoxx 50 fell 0.18% to 5,708.20.
- The DJIA closed 0.38% lower at 47,560.29 on Tuesday.
- The S&P 500 closed unchanged at 6,840.51.
- The Nasdaq Composite Index rose 0.13% to end at 23,576.49.
- The S&P/TSX Composite Index closed 0.24% higher at 31,244.37.
- The S&P 40 Latin America Index rose 0.27% to end at 3,135.99.
- US 10-year government bond interest rate rose 1.9bps to 4.205%
- E-mini S&P 500 futures unchanged at 6,851.50
- E-mini NASDAQ 100 futures were unchanged at 25,708.50.
- E-mini Dow Jones Industrial Average futures unchanged at 47,602.00
bitcoin statistics
- BTC Dominance: 59.14% (+0.08%)
- Ether to Bitcoin ratio: 0.03586 (0.16%)
- Hashrate (7-day moving average): 1,043 EH/s
- Hash Price (Spot): $39.21
- Total fees: 2.98 BTC / $273,149
- CME futures open interest: 123,905 BTC
- BTC Gold Price: 22oz
- BTC vs. Gold Market Cap: 6.19%
technical analysis
Hourly chart of SOL in candlestick format. (Trading View)
- The chart is Solana’s sol$137.09 Displays hourly price fluctuations in candlestick format.
- Solana’s native token continues to trade in a sideways channel with a ceiling of $145 and a floor of $125.
- The next big move is likely to lead to an eventual resolution of the range.
crypto assets
- Coinbase Global (COIN): Tuesday close $277.36 (+1.15%), pre-market $277.63 (+0.1%)
- Circle (CRCL): $88.88 (+5.86%), +0.24% to end at $89.09
- Galaxy Digital (GLXY): $29.45 (+12.88%), +0.2% to end at $29.51
- Bullish (BLSH): $46.11 (+0.39%), -0.46% to close at $45.90
- MARA Holdings (MARA): $12.25 (+1.66%), +0.24% to close at $12.28
- Riot Platform (RIOT): unchanged pre-market, closing at $15.51 (+3.68%)
- Core Scientific (CORZ): $17.49 (-1.13%), +0.34% to close at $17.55
- CleanSpark (CLSK): $14.85 (+6.91%), -0.13% to close at $14.83
- CoinShares Valkyrie Bitcoin Miners ETF (WGMI): Ended at $47.43 (+2.15%)
- Exodus Movement (EXOD): Closed at $15.28 (+2.96%)
crypto asset company
- Strategy (MSTR): $188.99 (+2.89%), +0.69% to end at $190.30
- Semler Scientific (SMLR): $20.37 (+3.03%), +1.57% to end at $20.69
- SharpLink Gaming (SBET): $11.60 (+4.88%), -0.17% to close at $11.58
- Upexi (UPXI): Closed unchanged from pre-market at $2.56 (-1.92%)
- Lite Strategy (LITS): Closed at $1.83 (+6.4%)
ETF flow
Spot BTC ETF
- Daily net flow: $151.9 million
- Cumulative net flow: $57.69 billion
- Total BTC holdings ~1.3 million
Spot ETH ETF
- Daily net flow: $177.7 million
- Cumulative net flow: $13.11 billion
- Total ETH holdings ~6.26 million
Source: Farside Investors
while you were sleeping
- Cryptocurrency traders seek more security as kidnappings rise (Bloomberg): A surge in physical attacks linked to online exposure is prompting those involved in cryptocurrencies to reduce their public activities and adopt stricter personal and wallet protections to avoid becoming personally identifiable targets.
- IMF cites stablecoins as a source of risk in emerging markets, experts say we’re not there yet (CoinDesk): The fund’s warning focuses on dollar-linked tokens that enable rapid capital outflows and currency pressures in fragile economies, but analysts counter that today’s stablecoin market remains too small to influence macro conditions.
