2025-12-29 17:22:08

Recent on-chain data over the past week has shown several interesting signals. Institutional activity on BTC has been significant—one leading asset management firm increased its holdings by 1,229 Bitcoins, investing $108.8 million, which diluted the price to approximately $88,568 per Bitcoin. During the same period, a mining company also took action, purchasing 44,463 Ethereum, spending $130 million.

From staking data, Ethereum's situation is worth noting. The latest statistics show that the number of ETH waiting to be staked has surpassed the exit queue for the first time in half a year. Validators' enthusiasm has clearly rebounded, with staking demand roughly twice the withdrawal demand—indicating an improving market outlook for Ethereum's long-term prospects.

Another interesting data point is that approximately 33.5% of Bitcoin is currently in loss, a ratio last seen in October 2023 when BTC was only $26,000. Looking at precious metals benchmarks, the Bitcoin-to-gold ratio has fallen to 19 (a new low since November 2023), and the Bitcoin-to-silver ratio has dropped to 1,104 (a new low since September 2023). Compared to the bear market bottom in 2022 at 680 and 9, respectively, current metal ratios remain significantly higher.

On the macro front, there are also developments. The Federal Reserve will release the latest monetary policy meeting minutes on December 31st early morning, and Trump may nominate a new Federal Reserve Chair in the first week of January. These policy changes often influence market expectations for risk assets.

BTC-0.69%

ETH-0.39%

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WalletManager

· 6h ago

Institutions invested 108.8 million in BTC, and mining companies hold 44,463 ETH... This pace is a bit like laying the groundwork for the upcoming interest rate decision. The proportion of positions with a 33.5% loss has returned to October 2023 levels, indicating that the chip distribution is still quite even and not easily pushed by a one-sided sell-off. The reversal of the staking queue is the real highlight; on-chain demand is only half of staking demand, and validators are voting with their feet. In the long term, ETH's fundamentals are indeed recovering. At this point, it's important to secure private keys and multi-signature configurations to avoid contract vulnerabilities. Although the Bitcoin-to-metal ratio has hit a new low, there is still room compared to the 680 at the 2022 bear bottom. The risk factor isn't that exaggerated... It all depends on how the Federal Reserve's decision at the end of the year plays out.

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DAOdreamer

· 6h ago

Institutions' buying rhythm this time is really decisive, but to be honest, those who still dare to spend over 100 million to buy BTC now are either truly confident or are gamblers. I lean towards the former... ETH staking hitting record highs makes it easy to sign, and how loud will the cries of those leaving the network be now, haha.

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AirdropHarvester

· 6h ago

This move by the institutions is really impressive, but I'm still a bit worried about catching the falling knife at high levels.

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BearMarketHustler

· 6h ago

The institutional bottom-fishing rhythm is quite aggressive, but these data look a bit awkward... 33.5% of the coins are still in loss, indicating that there are still quite a few people trapped. The staking part is somewhat interesting, although it's uncertain whether it can hold until next year. If the Federal Reserve really appoints a new chairman, risk assets will tremble.

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