Bitcoin briefly broke through the $90,000 mark again in the evening, and Ethereum rose above $3,000. At this time, Brother Majie closed the long order for Bitcoin and the long order for HYPE.
(Previous context: Fidelity analyst: Bitcoin will be in a "fallow year" in 2026, support range of $65,000 to $75,000)
(Background information: Market share dropped from 80% to 20%, what happened to Hyperliquid?)
Bitcoin surged again this evening (21st), briefly breaking the $90,000 mark around six o'clock, currently reported at $88,793 before press time. Ethereum also rose simultaneously, breaking through $3,000, reaching a high of $3,017.
Despite BTC prices once again nearing the 90,000 mark, the year-end liquidity exhaustion and profit-taking pressure from the U.S. market raises questions about whether Bitcoin can stabilize and break through, with both long and short orders.

According to statistics, 84.7% of the 118 TGEs in 2025 fell below the issue price, with a median drop of 71%. Funds are flowing towards Bitcoin and Ether. Is the new investment strategy failing?
(Previous summary: Aster, Lighter... strong enemies besiege, Hyperliquid's siege battle)
(Background Supplement: Market share dropped from 80% to 20%, what happened to Hyperliquid?)
The year 2025 is about to come to an end, and the primary market for cryptocurrencies has been surprisingly cold during this time. According to Memento Research's statistics on December 20, out of 118 token generation events (TGE) this year, 84.7% of new coins opened below the issue price, with only 15% maintaining an upward trend. For airdrop hunters who have long relied on "new launches" for profit, this year has probably been quite difficult.

The White House launches the "Genesis Project," with 24 top technology companies committed to doubling U.S. scientific productivity within a decade. The plan integrates data and Computing Power from national laboratories, pushing AI from chat applications to nuclear fusion simulations and new material searches, while promoting investment in Computing Power infrastructure from the Capital Market.

The Ethereum Foundation announced that it will fully implement 128-bit security standards by 2026, with a focus on security to attract institutional funds. The plan is divided into three milestones, including the integration of security assessment tools, achieving 100-bit and ultimately 128-bit security. While strengthening security is expected to impact scalability speed, it will be key to attracting high-value applications in the long run.

Citigroup has set a target price of $143,000 for Bitcoin, betting on ETF liquidity and legislative catalysts, while also drawing a risk line at $70,000.
(Previous Context: The largest options expiration in Bitcoin history is about to take place! Glassnode: The market is still pricing in downward risk, and BTC's volatility may explode in the new year.)
(Background information: No Bitcoin, then blow up the building! The Modern Group headquarters received an explosion threat email, and the suspect demanded 13 coins.)
Citigroup released its latest research report on December 19, directly raising the target price of Bitcoin for the next 12 months to $143,000. The report was co-authored by strategists Alex Saunders, Dirk Willer, and Vinh Vo, timing the analysis with Bitcoin's current price at around $88,000, which equates to an additional 62%.

The Museum of Modern Art in New York has announced the inclusion of CryptoPunks in its collection, providing "museum-quality" endorsement for NFTs.
(Previously: Bought CryptoPunks as a reserve, didn't expect PunkStrategy to really take off)
(Background: Yuga Labs sold CryptoPunks! Infinite Node Foundation acquired the intellectual property rights: will continue the spirit of cyberpunk)
The Museum of Modern Art in New York ( MoMA ) has announced the inclusion of the NFT avatar series CryptoPunks in its permanent collection. It has been listed on the collection page. This announcement, following the retreat of the NFT bubble, is seen as a milestone for traditional art institutions formally engaging with blockchain assets.
This batch of CryptoPunks is from multiple private collectors.

The Delaware Supreme Court of the United States reinstated Musk's $139 billion compensation package, bringing his wealth to $749 billion, making him the first person in history to surpass $700 billion. Tesla's stock Options are back in effect due to the court's reversal, and additionally, SpaceX's valuation has also pumped to $800 billion, further enhancing Musk's status as a billionaire.

Fidelity Macro Chief Timmer pointed out that the four-year cycle may be reaching a phase end, estimating that if Bitcoin continues to decline in 2026, it will test the support at $65,000–$75,000.
(Background: The largest Bitcoin options expiration in history is approaching! Glassnode: Market is still pricing in downside risk, BTC volatility may erupt in the New Year)
(Additional context: No Bitcoin, no building! Modern Group headquarters received an explosion threat email, the suspect demands 13 BTC)
Bitcoin (BTC) has been fluctuating narrowly around $88,000 in the past 24 hours, while Ethereum is very close to $3,000 but has yet to truly break above it. Meanwhile, Fidelity Investment’s Global Macro Head Jurrien Timmer recently used historical charts to compare and directly pointed out that the peak of the Bitcoin "four-year halving cycle" may have already appeared.

Tom Lee strongly advocates for Bitcoin and Ethereum, but the Wall Street financial strategy fund Fundstrat he is backed by has released a very different report. The reasons for the two different scenarios are due to different risk control considerations.
(Background: When Ethereum fell below $2800, BitMine added an additional 30,000 ETH, holding over 3.3% of the supply)
(Additional background: Ondo Finance teamed up with LayerZero to launch a "Securities Cross-Chain Bridge": seamless transfer of tokenized stocks and ETFs, now supporting Ethereum and BSC)
Nicknamed "Crypto forever bullish," Tom Lee repeatedly announced in financial media interviews that Bitcoin and Ethereum would break their all-time highs by January 2026. However, the internal report from Fundstrat, where he works, shows a completely opposite outlook.