X plans to implement new Terms of Service on Jan. 15, 2026, redefining user "Content" to explicitly include AI prompts, inputs, outputs, and information created or obtained through its services, while keeping the current Nov. 15, 2024 terms active until then. Under the updated contract, users grant X a broad license to reuse this Content for any purpose, including AI training, face new bans on AI "jailbreaking" and scraping, and remain subject to a $100 liability cap and Texas-based dispute rules that critics say could chill research and speech.

President Donald Trump said this week the U.S. has taken in roughly $18 trillion from tariffs. Treasury data shows customs duties totaled about $195 billion in fiscal year 2025, with monthly collections in late 2025 exceeding $30 billion, and reviews note his tally bundles investment pledges rather than cash receipts. The administration is also pushing blockchain-based transparency for public financial data.

Whale Alert flagged an on-chain transfer of 43,033 BTC worth about $3.93 billion, with intelligence dashboards clustering the receiving address to Twenty One. Jack Mallers said the firm plans to start trading on December 9 and will move "over 43,500 Bitcoin out of escrow and into our custody," describing the shift as a custody realignment.

Bitcoin climbed back toward $93,000 after traders lifted December Federal Reserve rate cut probabilities into the mid-to-high 80% range and the dollar posted its ninth consecutive daily decline. Market attention has also shifted to potential successors for Fed Chair Jerome Powell, whose term concludes in May 2026, with former Coinbase advisor Kevin Hassett emerging as a leading candidate, according to Reuters.

Bitcoin's cyclical market structure remains intact despite recurring claims of fundamental change, with analysis of miner economics, fee revenue, and institutional flows pointing to a potential bear market bottom near $49,000 in early 2026. The framework examines security budget dynamics, hashrate elasticity from miner diversification into AI hosting, and ETF flow patterns to assess three scenarios for the next downturn. Key indicators include sustained hashprice below $40 per petahash daily, fee contributions dropping below 10% of miner revenue, and persistent negative ETF flows.

Social media narratives frequently oversimplify relationships between M2 money supply, the U.S. dollar, and Bitcoin price movements. Analysis of 12 months of daily data shows liquidity measures and the DXY index affect Bitcoin through distinct time lags and regime-dependent correlations rather than direct causality. M2 demonstrates an 84-day correlation window, while dollar strength operates through faster mechanisms, with both relationships shifting around market cycle phases.

Multiple cryptocurrency companies have launched or filed for public listings near Bitcoin's recent all-time high, repeating a pattern seen in previous market cycles. Bullish debuted on August 13, 2025, and Figure priced its IPO on September 10, 2025—both within weeks of Bitcoin's October 6 peak near $126,198. Grayscale filed publicly on November 13, 2025, roughly 38 days after that top, reporting $318.7 million in revenue and $203.3 million in net income for the first nine months of 2025.

Bitcoin dropped below $85,000, triggering over $2 billion in derivatives liquidations across major exchanges within 24 hours. The cryptocurrency reached an overnight low of $81,600. Long positions accounted for approximately $1.86 billion of the liquidations, while short positions represented around $140 million, data show.

Bitcoin could decline toward $85,000 as it continues following liquidity-driven price movements tracked over 18 months. Order-book analysis shows the current channel between $90,000 and $85,000 represents the next major support zone. If selling pressure persists, deeper support levels exist at $73,000.