Bitcoin Hovers Near Production Cost as Bull/Bear Line Tightens

Vanguard's recent policy reversal to allow spot ETFs for Bitcoin, Ethereum, XRP, and Solana has catalyzed a significant +6% rally in Bitcoin prices on December 2-3, 2025. This shift marks a departure from Vanguard's historically conservative stance in traditional finance, indicating a newfound openness to cryptocurrency investments.

Strategy's monthly Bitcoin purchases have significantly decreased in the latter half of 2025, coinciding with a downturn in the crypto treasury market. This decline reflects broader market instability, as Bitcoin's value has plummeted, impacting investor confidence.

Ethereum has activated the Fusaka upgrade, introducing PeerDAS, a system that allows validators to check smaller data slices instead of entire blobs, which aims to reduce costs and computational load for both validators and layer-2 networks.

Analysts from Cryptoquant have identified a significant structural shift in Strategy's Bitcoin accumulation plans, indicating a change in approach as the company adapts to current market conditions. This shift comes amid fluctuating Bitcoin prices and broader market instability.

Fanatics, a leading sports clothing and collectibles company, has launched Fanatics Markets, an app that allows users to trade on the outcomes of various events, including sports and politics, now available in ten states. The company plans to expand its offerings to include cryptocurrency and IPO bets by 2026.

Bitcoin's price is currently hovering around $93,117, nearing the $94,000 mark, driven by strong institutional demand and a significant trading volume of $81 billion in the last 24 hours. This bullish setup follows a recovery from a recent dip, indicating renewed investor confidence in the cryptocurrency market.

XRP is experiencing renewed strength as traders analyze charts for a potential rally towards the $2.30 to $2.50 range, with speculation that Bitcoin's short-term performance may significantly influence this movement. Recent data shows XRP's price has stabilized around the critical $2 mark, which is pivotal for its future trajectory.

Solana Mobile has announced the upcoming launch of the SKR Token in January, with a total supply of 10 billion tokens. The distribution plan allocates 30% for airdrops, 25% for growth initiatives, and 10% for liquidity and launch support, aiming to bolster the Solana ecosystem.