Crypto Market News Today, December 11: The Rise and Fall of Do Kwon as 15-Year Jailtime Sentenced, YouTube PayPal Stablecoin Payout, All While Bitcoin Price About to Pounce

The cryptocurrency market experienced a significant sell-off as a change in the Federal Reserve chair under the Trump administration unsettled traders, compounded by increasing macroeconomic challenges in the U.S. This led to a risk-off sentiment among investors, resulting in declines for Bitcoin and altcoins.

PayPal, the issuer of the PYUSD stablecoin, has applied for an industrial bank license in Utah, aiming to expand its financial services by offering business lending and interest-bearing savings accounts. This move signifies PayPal's commitment to integrating cryptocurrency into traditional banking frameworks.

As 2025 comes to a close, Bitcoin's early movements have slowed significantly, with only eight block rewards from 2010 being utilized. This stagnation reflects a broader trend in the cryptocurrency market, where trading activity appears to be consolidating.

Michael Saylor, the executive chairman of Strategy, has made headlines by purchasing nearly $1 billion worth of Bitcoin. However, shortly after this significant investment, the value of Bitcoin experienced a 4% decline, raising concerns about market volatility and the timing of such large acquisitions.

Fidelity has issued a cautionary outlook on the cryptocurrency market as it approaches 2026, highlighting short-term risks for investors while suggesting that long-term holders may still find opportunities to enter. This perspective reflects a significant shift in the crypto landscape, where volatility and uncertainty prevail.

Bitcoin's price has slid to $86,000, significantly below its recent trading range, as concerns over slower rate cuts and issues in the AI stock market weigh heavily on investor sentiment. This decline is part of a broader downturn affecting the cryptocurrency market, with many assets experiencing increased sell pressure.

Bitcoin's price has dropped below $86,000, primarily due to $2.78 billion in selling by large investors, known as whales, which has overshadowed the buying activity from smaller traders. This significant decline raises questions about the ability of Bitcoin to maintain its value above this critical threshold.

Bitcoin and Ether have shown a rebound in the latest ETF weekly recap, while Solana and XRP have extended their inflow streaks, indicating a positive shift in investor sentiment towards these cryptocurrencies. The report highlights a significant inflow of $224 million into Bitcoin ETFs, alongside renewed interest in Ether as ETF inflows resume, suggesting a recovery from previous market volatility.