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

未来值得关注的是，以隐私为先、专注于支付的区块链将如何发展。

摩根大通分析师团队（由高级策略师 Nikolaos Panigirtzoglou 领导）于 12 月 4 日发布了一份研究报告。

项目,agent,加密代理人是下一个重要趋势 金色财经,AgentFi自动优化收益，简化交易策略。

2025年11月，MS发布了“Financial Inclusion via FinTech: From Digital Payments to Platform Investments”一文。

外汇市场根本不是我以为的"换汇市场"。 更准确地说，在那每日7.5万亿美元的庞大交易量里，大部分压根不是在"换汇"——而是一个庞大且隐形的全球美元借贷网络。

金融在西方是一种社会动员手段，只有在“国家—社会”分立乃至对立的情况下才能发挥奇效，但在家国同构的东方大国，社会动员依赖于水利工程和治理能力。

连续两个周五中国内地政府和行业组织对虚拟货币重拳出击，尤其是对稳定币和RWA的定性和定调，震动业界。它禁止了什么，留下了什么，关上这扇门，是否还会打开另外一扇窗？

一位券商首席分析师告诉巴伦中文网，此前内地的RWA项目肯定不符合最新的监管精神。截至目前，内地此前尝试的RWA项目几乎都已经停止。

金色周刊是金色财经推出的一档每周区块链行业总结栏目，内容涵盖一周重点新闻、行情与合约数据、矿业信息、项目动态、技术进展等行业动态。

本周共有 25 家区块链初创公司获得融资，总额达 4.789 亿美元。CoinMENA 在并购（M&A）融资轮中获得 2.4 亿美元——为本周最大融资。