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According to Odaily, Bloomberg Intelligence Senior Commodity Strategist Mike McGlone posted on X that bitcoin may retest $50,000, and the bitcoin/gold ratio could fall to 13x. The market's extreme complacency suggests that risk assets may face further downside, with bitcoin likely to bear the brunt.
Mike McGlone stated that Bloomberg's economic model shows the bitcoin/gold ratio was about 20x on December 1, while its fair value should be close to 13x—the key driver for this ratio to revert is that the S&P 500 Index's 120-day volatility is approaching its lowest year-end level since 2017.
According to Odaily, perpetual contract DEX Aster announced that the Stage 3 airdrop checker is now live, but token claims have not yet started. This page currently only supports eligibility verification. The claim window is from 12:00 UTC, December 15, 2025, to 12:00 UTC, January 15, 2026.
According to Odaily, monitoring by Bubblemaps shows that after the 1011 flash crash, three insider whale addresses that opened short positions—0xf6fd, 0xF744, and 0x4116—have cumulatively borrowed 220 millions USDT from Aave and sent it to an exchange. These addresses still hold over $500 million in assets on-chain.
According to Odaily, the spot trading volume on crypto exchanges in November fell to $1.59 trillion, down 26.7% from October's $2.17 trillion, marking the lowest level since June. One exchange remained in the lead with $599.34 billion, but this was a significant drop from October; other exchanges recorded $105.8 billion, $96.75 billion, and $93.41 billion, respectively. Kronos Research CIO Vincent Liu stated that after an overheated market in October, November saw low volatility and low momentum, with the decline in trading mainly due to profit-taking and a narrowing trading range.
DefiLlama data shows that in November, decentralized exchange (DEX) trading volume also dropped to $397.78 billion, the lowest since June; Uniswap and PancakeSwap recorded $79.98 billion and $70.57 billion, respectively, both showing a significant decline from the previous month. The DEX/CEX trading ratio fell from 17.56% in October to 15.73%. Liu believes this mainly reflects a change in trading structure: narrower volatility ranges make CEXs, with their depth and spread advantages, more efficient, while weaker on-chain incentives and speculative fervor have dragged down DEX trading.
On the market side, bitcoin fell from around $110,000 in November to a low of about $81,000; as of press time, it had dropped 4.6% in the past 24 hours to $86,500. SoSoValue data shows that in November, US spot bitcoin ETFs saw a net outflow of $3.48 billion, the largest single-month outflow since February. (The Block)
According to Odaily, in response to accusations from Monad ecosystem developers that Wintermute, as a market maker, is shorting MON, Wintermute founder Evgeny Gaevoy refuted the claim, saying "Don't make statements that cannot be substantiated."
Later, when a community member asked Evgeny if he was going long, Evgeny replied: "In fact, yes."
