Bitcoin finds its legs: Crypto Daybook Americas

Bitcoin finds its legs: Crypto Daybook Americas Your day-ahead look for Dec. 22, 2025 What to know: You are viewing Crypto Daybook Americas, your morning briefing on what happened in the crypto markets overnight and what's expected during the coming day. Crypto Daybook Americas will kickstart your morning with comprehensive insights. If you're not already subscribed to the email, click here . You won't want to start your day without it. (Mathias Reding/Unsplash modified by CoinDesk ) BTC is looking to retake the bullish trendline from Nov. 21 lows. (TradingView) By Omkar Godbole (All times ET unless indicated otherwise) The week is off to a positive start with bitcoin up more than 1% at $89,800, approaching the upper end of the recent week-long range play between $85,000 and $90,000. Overhead supply between $92,000 and $95,000 remains a key hurdle to beat for the bulls, according to BRN. See all newsletters This week’s U.S. economic calendar is light but relevant, with third-quarter U.S. gross domestic product (GDP) and consumer confidence reports on Tuesday, followed by jobless claims on Wednesday. These figures could influence investors' risk sentiment, although year-end holidays could keep market liquidity thin, leading to erratic price moves. On Friday, BTC and ETH options worth $27 billion are set to expire on Deribit, with positioning leaning bullish ahead of the event. Some analysts remain cautious despite the price bounce. "The short-term positive momentum may be misleading, and the broader picture of disappointment compared to hopes at the start of the year should not be overlooked," Alex Kuptsikevich, chief market analyst at the FxPro said in an email. "Bitcoin is 30% below its peak and trading at a level lower than it was at the beginning of 2025. Attempts to bring YTD momentum to zero are little consolation in this context," he added. The largest cryptocurrency started the year around $93,400, CoinDesk data show. In the broader market, tokens like HYPE, KAS, SKY and NIGHT have gained 4% to 6% in 24 hours while major altcoins such as XRP, ETH, and SOL are trading mixed. The CoinDesk 20 and CoinDesk 80 indexes are little changed. Uniswap's UNI token is down over 1% as voting starts on a proposal to activate the protocol fee switch and turn the token into a value-accruing instrument. Voting has been overwhelming in support of the protocol. In traditional markets, gold hit a record high $4,420 as longer dated bond yields in Japan continued to rise, highlighting fiscal concerns. The dollar index fell back slightly to $98.48, erasing Friday's gain. Stay alert! Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today What to Watch For a more comprehensive list of events this week, see CoinDesk's " Crypto Week Ahead ". Crypto Dec.22, 11 p.m.: end-of-year AMA on X . Dec.22, 11 p.m.: Macro Dec.22, 8:30 a.m.: Canada Nov. PPI YoY (Prev. 6%), MoM Est. 0.3%. Earnings (Estimates based on FactSet data) Nothing scheduled. Token Events For a more comprehensive list of...

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