According to PANews, the latest weekly report from Glassnode highlights similarities between the current market conditions and the early stages of the 2022 bear market, also known as the crypto winter. During November to December, open interest has consistently declined, indicating a reduced risk appetite among investors, particularly following the flash crash on October 10. The options market reflects cautious sentiment, with investors preferring to sell rather than chase potential gains. Earlier this week, as Bitcoin's price approached $80,000, put options dominated the market. However, as prices stabilized, investor panic subsided, and funds shifted towards call options. Perpetual contract funding rates have remained mostly neutral, with only brief periods of negative values, while funding premiums have significantly decreased. This suggests a more balanced market environment with reduced speculation. Demand for ETFs continues to weaken, with IBIT experiencing outflows for the sixth consecutive week, marking the longest streak of negative flows since its launch in January 2024. Over the past five weeks, redemptions have totaled more than $2.7 billion. Derivatives data further corroborates the decline in risk appetite.

الرؤى الرئيسية واجهت شركات خزينة البيتكوين (BTC) واقعًا قاسيًا في أواخر عام 2025، حيث بدأت الهندسة المالية التي دعمت صعودها الصاروخي في العمل بشكل عكسي. حلل تقرير إخباري للعملات الرقمية صادر عن شركة Galaxy Digital نقاط الضعف الهيكلية التي ظهرت بمجرد أن تبخرت علاوات الأسهم إلى صافي قيمة أصول البيتكوين. source: https://www.thecoinrepublic.com/ar/2025/12/07/%d8%a3%d8%ae%d8%a8%d8%a7%d8%b1-%d8%a7%d9%84%d8%a8%d9%8a%d8%aa%d9%83%d9%88%d9%8a%d9%86-%d8%aa%d9%82%d8%b1%d9%8a%d8%b1-%d9%8a%d8%b4%d9%83%d9%83-%d9%81%d9%8a-%d9%85%d8%aa%d8%a7%d9%86%d8%a9-%d8%b3%d9%86/

Key Insights Bitcoin (BTC) treasury companies faced a harsh reality in late 2025 as the financial engineering that had powered their meteoric rise began to work in reverse. A crypto news report by Galaxy Digital dissected the structural vulnerabilities that emerged once equity premiums to Bitcoin net asset value evaporated. source: https://www.thecoinrepublic.com/2025/12/07/bitcoin-news-report-questions-btc-treasuries-durability-amid-premiums-collapsing/

Yesterday, Dogecoin officially completed 12 years since its creation. Billy Markus and Jackson Palmer, the founders of DOGE, celebrated the anniversary on X. source: https://www.cryptopolitan.com/dogecoin-celebrates-12th-anniversary/

Grayscale has taken its first major step into the Sui ecosystem, submitting an S-1 registration to the U. S. Securities and Exchange Commission for a new investment vehicle tied directly to the SUI token. source: https://cryptodnes.bg/en/grayscale-files-s-1-for-new-sui-trust-as-institutional-interest-builds/

The current state of the Bitcoin market is beginning to resemble the conditions seen in early 2022, as various on-chain metrics indicate heightened stress levels and potential challenges for investors and traders, according to insights provided by Glassnode, a leading blockchain analytics firm. source: https://www.coindesk.com/markets/2025/12/05/bitcoin-market-echoes-early-2022-as-onchain-stress-mounts-glassnode

"Recent data indicates that the activity surrounding Dogecoin has surged to its highest level in the past three months, reflecting a renewed interest and engagement from its community of users and investors. However, despite this uptick in activity, the price movement of DOGE has continued to exhibit a range-bound behavior, remaining within a relatively stable price range without significant upward or downward trends." source: https://www.coindesk.com/markets/2025/12/07/dogecoin-activity-hits-3-month-high-but-doge-price-action-remains-range-bound

Looking ahead, it's worth paying attention to how blockchain technology, prioritizing privacy and focusing on payments, will develop.

A research report was released on December 4 by a team of analysts at JPMorgan Chase (led by senior strategist Nikolaos Panigirtzoglou).

Projects, agents, and crypto agents are the next major trend. Golden Finance reports that AgentFi automatically optimizes returns and simplifies trading strategies.

In November 2025, MS published an article titled "Financial Inclusion via FinTech: From Digital Payments to Platform Investments".

The foreign exchange market is not at all the "currency exchange market" I thought it was. To be more precise, most of the massive daily trading volume of $7.5 trillion is not "currency exchange" at all—but rather a vast and invisible global dollar lending network.

In the West, finance is a means of social mobilization, and it can only be effective when the "state-society" is separated or even opposed. However, in large Eastern countries where the state and family are structurally similar, social mobilization relies on water conservancy projects and governance capabilities.

For two consecutive Fridays, the Chinese government and industry organizations have launched a crackdown on cryptocurrencies, particularly defining and clarifying the stance on stablecoins and RWA, shaking the industry. What has it banned, what has it preserved, and will closing one door open another window?

A chief analyst at a securities firm told Barron's that previous RWA projects in mainland China certainly did not comply with the latest regulatory guidelines. To date, almost all previously attempted RWA projects in mainland China have been halted.

Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance, covering key news, market and contract data, mining information, project updates, technological advancements, and other industry dynamics.

This week, 25 blockchain startups raised a total of $478.9 million. CoinMENA raised $240 million in its M&A funding round—the largest funding round of the week.