BTC, ETH price analysis: Bitcoin, ether drop 22% in one of their weakest Decembers

Bitcoin and ether concluded December poorly, failing to achieve the typical year-end 'Santa rally,' which signals a fragile crypto market amid thinning liquidity and reduced risk appetite. Bitcoin is set to end December down approximately 22%, marking its worst monthly performance since December 2018, while ether is projected to finish Q4 2025 down 28.07%. This weak finish is significant because strong late-year flows usually build momentum for the early cycle, but this December suggested a positioning reset instead. In contrast to precious metals like gold, which hit records due to rate cut expectations and geopolitical stress, Bitcoin traded more like a high-beta asset, struggling to hold gains without broader risk appetite. The market's immediate focus is whether Bitcoin can sustain recent support levels into the new year; failure to do so might indicate a deeper market reset is needed before the next sustained upward trend.

(Source：CoinDesk)