Dogecoin Triangle Support Test Maps Out Recovery Roadmap And When To Sell

Stablecoin giant Tether's $1.3 billion offer to buy Italian football club Juventus was rejected within just 24 hours after Italy's Agnelli family, through their holding company Exor, reaffirmed their commitment not to sell any part of the team. 

"Exor reaffirms its previous, consistent statements that it has no intention of selling any of its shares in Juventus to a third party, including but not restricted to El Salvador-based Tether," the Exor board said in a statement.

The rejection came swiftly after Tether publicly announced its binding all-cash bid on Friday, offering €2.66 per share for Exor's 65.4% controlling stake—a roughly 21% premium to Juventus's Friday closing price of €2.19. The offer valued the club at approximately €1.1 billion ($1.3 billion). As The Block previously reported, Tether had pledged to invest an additional €1 billion in the club's development if the acquisition was approved. 

“For me, Juventus has always been part of my life,” Tether CEO Paolo Ardoino said in a statement at the time. “I grew up with this team. As a boy, I learned what commitment, resilience, and responsibility meant by watching Juventus face success and adversity with dignity."

Tether first purchased a minority stake in the football club in February, increasing it to over 10% in April. Ardoino said the partnership would help Tether "explore avenues for innovative collaborations and the potential to revolutionize the global sports landscape" in a statement at the time. Tether also backed Dr. Francesco Garino as a candidate for the Juventus board; he joined the board in November. 

The failed bid marks a setback for Tether's diversification strategy beyond its core stablecoin business. The company, which reported net profits exceeding $10 billion in the first nine months of 2025, has been aggressively investing in artificial intelligence, robotics, bitcoin mining, and other sectors. Just last week, Tether joined a €70 million funding round for Italian humanoid robotics startup Generative Bionics.

Juventus has faced recurring financial challenges in recent years, requiring more than €1 billion in capital injections over the past seven years. Despite these difficulties, the Agnelli family has shown no willingness to cede control. Tether did not immediately respond to a request for comment from The Block. 

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Bitcoin’s bearish momentum has since reached a cool-off state, as price maintains above the last swing low established late November. However, although there has been a steady uptrend, signs of a bullish reversal remain weak. Interestingly, a recent evaluation has been published, which delves into the factors that may affect Bitcoin’s next major move.

Analyst Points To Key Support, Resistance Zones Using MVRV Metric

In an X post released on December 12, market analyst Ali Martinez shares that Bitcoin’s next significant move depends on how the price acts around a set of identified critical levels using data from the MVRV Extreme Deviation Pricing Bands. For context, this metric is used to identify when Bitcoin is undervalued or overvalued, with past activity around certain levels being a defining factor. It serves this function by comparing Bitcoin’s market price to its Realized Price and plotting extreme levels of likely deviation, such as ±0.5 and ±1.0, around the realized price.

From the chart below, $99,000 stands in correspondence to the +0.5 standard deviation band. This price level has historically functioned as a local top, especially in resistance against short-term bullish momentum. This happens because there is an increase in profit-taking among sellers, as they are prone to exiting in the presence of any real opposition. Interestingly, a significant break above this $99,000 resistance level could be a sign of awakening bullish interest, potentially causing the inflow of bullish momentum upon its retest.

On the flipside, the most immediate support zone is seen to lie around the $76,000 price. Notably, this region corresponds to the –0.5 deviation band, suggesting that it is a price level where Bitcoin would become undervalued if reached.

Past market cycles also reveal that pullbacks into this price region have often preceded increased upward momentum, owing to the ‘buy-the-dip’ mentality that must have prevailed. Expectedly, a slip beneath this key support zone would be a result of intensified sell pressure within the market. When this development occurs, the Bitcoin price could see an even deeper correction towards the south side of the price.

Metric Suggests $122,000 And $53,000 Are Next Crucial Zones To Watch

Notably, Bitcoin is expected to face another battle in the scenario where it breaks above the $99,000 resistance. Readings from the metric reveal that the +1 standard deviation band stands roughly at $122,000. Bullish rallies have often reached this price region, with significant resistance met to send prices sharply downwards. A break above the +1.0 deviation could therefore precede the formation of a new all-time-high price.

Also, the –1.0 deviation stands at the $53,000 price level. If the –0.5 deviation were to fail, the Bitcoin price could begin a bearish cycle towards $53,000, as it stands as the next significant support. This is so because it has historically functioned as a strong accumulation zone, where a bit of sideways movement was seen before major price expansions followed. At press time, Bitcoin stands at approximately $90,400, with a loss of %1.24 recorded since the last day, per CoinMarketCap data.

As Coinbase prepares to expand its suite of products ahead of the upcoming “Coinbase System Update,” it is planning to launch a prediction market on its platform.

While this aligns with Coinbase’s mission to efficiently serve its customers, it is planning to add the new product in collaboration with Kalshi, a CFTC regulated exchange and prediction market that allows users to trade on the outcome of real-world events.

Coinbase prepares for major event Dec. 17

While the new feature is yet to be fully confirmed by the exchange, it will be powered by Kalshi as it is expected to be unveiled as early as next week.

While the partnership is described as non-exclusive, Kalshi will reportedly serve as the sole prediction market operator integrated into Coinbase’s platform.

While Coinbase has promised to unpack exclusive new features during its upcoming “Coinbase System Update” event scheduled for Dec. 17, it appears that the feature will be officially announced during the event.

At the “Coinbase System Update,” the exchange is expected to unveil its newly proposed features, including its plans for tokenized stock offerings.

Notably, the potential update aligns with Coinbase’s broader strategy to turn its platform into a multi-asset financial marketplace rather than only a crypto exchange.

With the new prediction markets feature, Coinbase will be able to allow users to trade contracts related to real-world events, ranging from economic data releases to political outcomes.

While it is partnering with Kalshi, which operates under U.S. regulatory oversight, Coinbase will be able to offer the products within a compliant framework.

Nonetheless, Coinbase’s decision to expand into prediction markets and tokenized equities will help the exchange attract a wider audience and expand its growing user base.

The SEC’s Office of Investor Education and Assistance has released an Investor Bulletin to educate retail investors on crypto asset custody options.

The bulletin covers the essentials of crypto wallets, including the distinction between hot and cold wallets, as well as the importance of securing private keys and seed phrases. It also provides guidance to help investors choose custody methods and outlines factors investors should weigh when deciding how to store their crypto assets.

In the post–Gary Gensler era, the SEC has intensified efforts to bring greater oversight to digital asset markets, seeking to balance innovation with customer protection.

SEC Chair Paul Atkins has stated that most crypto assets do not qualify as securities, distancing the agency from prior interpretations. His agenda emphasizes self-custody, the development of super-apps that integrate multiple services, and reshoring crypto distribution activities to the US.

Recent developments include the approval of in-kind redemptions for crypto ETPs and the establishment of generic listing standards for spot crypto products.

The Enforcement Division has dropped multiple crypto probes, indicating a reduced emphasis on enforcement actions.