The week of December 2–8, 2025, marked a historic turning point for the cryptocurrency industry. From Bitcoin’s unprecedented surge past $100,000 to explosive growth in altcoins, NFTs, and global trading volumes, the digital asset landscape demonstrated both maturity and volatility. This comprehensive review explores the key developments shaping the market, including geopolitical influences, regulatory shifts, and emerging investment trends.
Bitcoin Breaks $100K: A 16-Year Journey to $1.97 Trillion Market Cap
On December 5, Bitcoin achieved a monumental milestone—surpassing $100,000 for the first time in its history. This momentous event capped a 16-year journey that began in 2009 with a mere $0.0008 valuation. With this surge, Bitcoin’s market capitalization soared to $1.97 trillion, underscoring its transformation from an obscure digital experiment to a globally recognized store of value.
Bitcoin’s whitepaper, released by Satoshi Nakamoto on October 31, 2008, laid the foundation for decentralized finance. The network officially launched on January 3, 2009, and has since weathered skepticism, regulatory scrutiny, and extreme volatility to emerge as the flagship cryptocurrency.
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Crypto Market Reaches New Heights: Total Value Tops $3.8 Trillion
The broader crypto market followed Bitcoin’s lead, with total market capitalization exceeding $3.8 trillion on December 5—a new all-time high. This surge was fueled by strong momentum throughout November, during which Bitcoin gained an astonishing $26,115.98, closing the month at $96,407.99.
Economist Carl Menger described the rally as just the “beginning” of Bitcoin’s long-term trajectory. Analyst Aksel Kibar noted that monthly breakout patterns have now been confirmed, signaling sustained institutional and retail interest.
Altcoin Season Ignites: Diversification Gains Momentum
While Bitcoin dominated headlines, altcoins showed remarkable strength. The Altcoin Season Index surged to 90—a yearly high—indicating broad market participation beyond BTC.
Bitcoin’s dominance (BTC.D) dropped to 51.4%, down from 61.78% at the peak of the bull run on November 21. This shift reflects increased capital flow into alternative ecosystems.
Since November 5, the total market cap excluding Bitcoin (TOTAL2) has risen nearly 98.8%, bottoming out at $856.1 billion before accelerating upward. Notable gainers include:
- XRP: Surged amid anticipation of regulatory clarity
- BNB: Strengthened by Binance’s ecosystem expansion
- HYPE: Benefited from Hyperliquid’s successful token launch
- SUI and ENA: Gained traction due to strong DeFi fundamentals
Geopolitical Forces Shape Crypto Adoption
Putin Endorses Bitcoin Over Dollar Reserves
Russian President Vladimir Putin made headlines on December 5 by questioning the reliability of foreign exchange reserves, citing political risks of asset seizure. He argued that investing in domestic assets or digital currencies like Bitcoin is more secure than holding U.S. dollars.
Putin criticized the weaponization of the dollar, stating it undermines confidence in its role as a global reserve currency. His remarks signaled growing acceptance of cryptocurrencies among world leaders concerned about financial sovereignty.
South Korea’s Emergency Martial Law Sparks Market Turmoil
On December 3, South Korean President Yoon Suk-yeol declared emergency martial law, triggering immediate chaos in local crypto markets. On Upbit, Bitcoin briefly "pinned" down to $71,814 amid panic selling, while altcoins experienced flash crashes.
By December 4, the National Assembly voted to invalidate the decree, restoring calm. However, the incident highlighted the sensitivity of regional markets to political instability.
Despite the turmoil, South Korea’s crypto trading volume surged dramatically.
South Korea Emerges as a Global Crypto Hub
In November 2025, South Korea’s top five exchanges—Upbit, Bithumb, Coinone, Korbit, and GOPAX—recorded approximately $11.5 billion (16.17 trillion KRW) in stablecoin trading volume. This represents a sevenfold increase from年初 figures and marks the first time monthly stablecoin volume exceeded 10 trillion KRW.
As of early December, South Korea accounted for 9.05% of global 24-hour crypto trading volume—totaling 23 trillion KRW ($164 billion USD equivalent). Experts suggest this growth may be driven by investors moving assets offshore amid regulatory uncertainty.
Regulatory Shifts in the United States
Trump Appoints Pro-Crypto Regulators
Former U.S. President Donald Trump announced two major appointments signaling a pro-innovation stance toward digital assets:
- Paul Atkins named as incoming SEC Chair: A former SEC commissioner under George W. Bush, Atkins opposes excessive corporate penalties and supported lighter regulation post-2008 crisis.
- David Sacks, PayPal co-founder and Craft Ventures partner, appointed as White House AI and Cryptocurrency Lead: Tasked with positioning the U.S. as a global leader in both fields while protecting free speech online.
These moves are widely interpreted as bullish for crypto regulation reform and institutional adoption.
Institutional Recognition: Financial Times Apologizes for Past Skepticism
In a surprising turn, Financial Times column Alphaville issued a public apology on December 5 for its historically negative coverage of cryptocurrencies over the past 14 years.
“If at any point over the last decade and a half you missed buying into an appreciating asset because of our reporting—we’re sorry.”
This symbolic gesture reflects shifting sentiment among traditional financial media toward blockchain technology.
NFT Market Revival: Blue-Chip Floor Prices Rebound
The NFT sector showed signs of recovery with significant gains across top collections:
- Bored Ape Yacht Club (BAYC): Floor price up 35.82% to 21.5 ETH
- Pudgy Penguins: Up 21.95% to 16.4 ETH
- Azuki: Gained 21.78% to 6.15 ETH
- Mutant Ape Yacht Club (MAYC): Soared 60.88%
Pudgy Penguins further energized the space by launching its native token PENGU on Solana with a massive supply of 888 billion tokens allocated across community, team, and liquidity pools.
Major Token Launches and Listings
Magic Eden ME Token Airdrop Goes Live
On December 5, Magic Eden opened its ME token airdrop portal ahead of the Token Generation Event (TGE) scheduled for December 10. The platform will distribute 12.5% of its 1 billion token supply (125 million ME) directly to eligible users.
An additional 22.5% is reserved for future protocol incentives. Pre-market trading on Aevo valued ME at $3.51 per token.
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Ripple Confirms RLUSD Stablecoin Delay
Ripple clarified on December 5 that its stablecoin RLUSD would not launch immediately despite speculation. The project remains under final review by the New York Department of Financial Services (NYDFS). The company emphasized its commitment to launching only after full regulatory approval.
Record-Breaking Trading Volumes Signal Market Maturation
December 5 saw crypto trading volumes surpass $10 trillion for the first time—driven by both centralized and derivatives platforms.
- CEX Spot Volume: Rose 128% month-over-month to $3.43 trillion
- Derivatives Volume: Increased 89% to $6.99 trillion (excluding DeFi)
This marks the second-highest spot volume since May 2021 and confirms growing liquidity across exchanges worldwide.
Industry Consolidation: Foundry and Circle Announce Restructuring
Amid rapid growth, some firms are streamlining operations:
- Foundry, the world’s largest Bitcoin mining pool operator, cut 27% of staff in a strategic pivot to focus on core mining services.
- Circle, issuer of USDC, reduced workforce by nearly 6%, citing efficiency improvements and AI-driven optimization.
Both companies affirmed continued investment in infrastructure despite downsizing.
Frequently Asked Questions (FAQ)
Q: What caused Bitcoin to break $100K?
A: A combination of macroeconomic factors—including inflation hedging, institutional adoption, favorable U.S. regulatory signals, and limited supply—drove demand beyond previous resistance levels.
Q: Is South Korea becoming a crypto safe haven?
A: While political events caused short-term volatility, South Korea's rising trading volume suggests strong domestic interest and potential offshore capital movement due to favorable tax policies and active retail participation.
Q: How did altcoins perform during Bitcoin’s rally?
A: Contrary to typical “Bitcoin dominance” patterns, altcoins thrived—with XRP, ENA, HYPE, and Solana-based memecoins posting double- and triple-digit gains—indicating a healthy diversification phase.
Q: What does Putin’s endorsement mean for crypto legitimacy?
A: While symbolic, his comments reflect growing recognition among global leaders that decentralized assets offer alternatives to traditional fiat systems vulnerable to geopolitical manipulation.
Q: Are NFTs making a comeback?
A: Yes—blue-chip NFT floor prices rose sharply week-over-week, and new token launches like PENGU indicate renewed developer activity and community engagement.
Q: Will regulatory changes under new U.S. leadership benefit crypto?
A: Appointments like Paul Atkins and David Sacks suggest a pro-innovation agenda could accelerate clear regulations, reduce enforcement overreach, and foster responsible growth in blockchain technology.
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