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Bitcoin's (BTC-USD)volatile streak continues into Decemberas the crypto asset fluttered above and below $85,000 per token multiple times on Monday. The downward price action since bitcoin's record high from early October has arrested the cryptocurrency's gains for 2025.
Yahoo Finance senior markets reporterInes Ferrécomes on Market Domination to talk more about Wall Street sentiments on the crypto sector and the impact that the broader sell-off has had on crypto-exposed stocks like Coinbase Global (COIN), Strategy (MSTR), and Circle Internet Group (CRCL).
To watch more expert insights and analysis on the latest market action, check out moreMarket Domination.
Bitcoin is kicking off December under pressure, trading just around $85,000 a coin. That's a sharp reversal from its Black Friday peak above 92,000. For more, we're bringing in Yahoo Finance senior markets reporter Inez Ferre. And Inez, it's just been a pretty brutal stretch for crypto and Bitcoin in particular, we're seeing uh the Bitcoin, the world's largest cryptocurrency down around 9% now since the start of the year.
Yeah, Allie, and that bounce that we saw last week, it did not follow through. There was some resistance around the 92,000 level, and now we're seeing it down to 85,000 as you just noted. This comes after Bitcoin uh ETFs posted their worst outflow uh monthly outflows uh on record. uh their second worst, that is. With respect to the uh Japanese yen and concerns over the Japanese yen. This may be what has sparked some of the sell-off that we saw coming into today, uh where we're now seeing Bitcoin down uh more than 7%. The last time some strategists have been pointing out that this concern over the Japanese yen happened was in August 2024. You saw Bitcoin prices plunging 18% over a span of just days and then a couple months later it recovered to new highs. But we'll have to see what happens here because there are strategists that are saying that Bitcoin is still there there are still needs to be signs of of bottoming here when it comes to uh Bitcoin and uh the that 81,000 level that we saw last month. Uh any type of macro shocks can uh send this the cryptocurrency and others uh with it lower. Uh there is one strategist that has been pointing out a range of anywhere between 70 and 100,000 range until the end of this year and then for next year, it'll be different. But looking at crypto stocks as well, Allie, uh these have just been hammered today. And if we just take a look at uh Coinbase, that is down, you've got strategy that's down, circle that's down. strategy off the lows of the session. There's been some concerns that if Bitcoin goes much lower then strategy would need to sell some of its uh Bitcoin. But today the company announced that a reserve fund, a US uh dollar fund of $1.44 billion dollars. That would go to fund any future dividend and also interest payments. So that should give them cover for about 21 months during this sort of Bitcoin volatility. uh and that should ease concerns, investor concerns about that. Now, they did update their full year forecast so it now ranges from a net income, the possibility of a net income loss to a net income profit. That's just because of this range of sort of volatility out there when it comes to crypto. But Bernstein analysts are noting that really concerns about strategy are overblown. Uh they don't see uh these issues with strategy they're saying that these are overstated and there's no real material risk here. They're saying that these companies are fundamentally sound.
Yeah, and Inez we'll be digging more into the moves that we're seeing across the crypto space along with some of those companies that you were mentioning like strategy. Thank you so much.