McGlone: Bitcoin Likely Below $84K by Year-End

Solana started a recovery wave above the $132 zone. SOL price is now consolidating and faces hurdles near the $138 zone.

• SOL price started a decent recovery wave above $130 and $132 against the US Dollar.
• The price is now trading below $138 and the 100-hourly simple moving average.
• There was a break above a key bearish trend line with resistance at $132 on the hourly chart of the SOL/USD pair (data source from Kraken).
• The price could continue to move up if it clears $138 and $140.

Solana Price Eyes Upside Break

Solana price remained stable and started a decent recovery wave from $128, like Bitcoin and Ethereum. SOL was able to climb above the $130 level.

There was a move above the 23.6% Fib retracement level of the downward move from the $147 swing high to the $128 low. Besides, there was a break above a key bearish trend line with resistance at $132 on the hourly chart of the SOL/USD pair.

Solana is now trading below $138 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $137 level, the 100-hourly simple moving average, and the 50% Fib retracement level of the downward move from the $147 swing high to the $128 low.

The next major resistance is near the $140 level. The main resistance could be $142. A successful close above the $142 resistance zone could set the pace for another steady increase. The next key resistance is $150. Any more gains might send the price toward the $155 level.

Another Decline In SOL?

If SOL fails to rise above the $140 resistance, it could continue to move down. Initial support on the downside is near the $132 zone. The first major support is near the $130 level.

A break below the $130 level might send the price toward the $128 support zone. If there is a close below the $128 support, the price could decline toward the $120 zone in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.

Major Support Levels – $132 and $130.

Major Resistance Levels – $138 and $140.

Binance, a major crypto exchange platform, has received full authorization from Abu Dhabi’s Financial Services Regulatory Authority (FSRA), which enables the company to operate trading venues, clearing infrastructure, and broker-dealer activities in the emirate.

The authorization reflects the UAE’s growing leadership in digital finance and provides Binance with a trusted regulatory home to support global operations. It also reinforces Binance's expansion into jurisdictions with clear crypto frameworks as the exchange continues to facilitate trading and custody services globally.

Regulated activities are scheduled to commence in early 2026, providing users with enhanced protection under ADGM’s gold-standard framework.

Richard Teng, Binance's co-CEO who previously worked in financial regulation at Abu Dhabi Global Market, has emphasized the company's focus on regulatory compliance as it pursues strategic growth opportunities.

Coinbase has resumed onboarding users in India after more than two years, marking a return to a market where regulatory barriers previously forced the U.S. crypto exchange to scale back operations, according to TechCrunch.

TechCrunch reported Sunday that Coinbase has reopened its app to Indian users through an early-access program in October and has now made registrations fully available.

Coinbase APAC Director John O'Loghlen said at India Blockchain Week that for now, Indian customers can conduct only crypto-to-crypto trades. A full fiat on-ramp is planned for 2026, according to the report.

The Block has reached out to Coinbase for further information.

Coinbase disabled its support for the Unified Payments Interface in April 2022, just days after launching in the country. UPI is a real-time payment system developed by the National Payments Corporation of India to facilitate inter-bank transactions using a mobile phone. In September 2023, the exchange reportedly halted all services from local users.

Since then, the company has been working to rebuild its presence in India. It stepped up its engagement with local regulators this year, registering with the Financial Intelligence Unit to comply with anti-money laundering oversight. That registration paved the way for Coinbase's reopening.

In October, the company announced an investment in local crypto exchange CoinDCX as part of its broader expansion strategy across India and the Middle East.

India continues to see vibrant crypto activity. The country ranked first in global crypto adoption for the third consecutive year, ahead of the U.S., Pakistan, the Philippines and Brazil, according to an October report from TRM Labs.

Some other global exchanges have also made their way back into India. In September, Bybit said it restored full access to its app on both the App Store and Google Play for users in the country. Binance also re-entered India in August 2024 after paying a $2.25 million penalty.

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© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

XRP price started a recovery wave above $2.050. The price is now showing positive signs but might struggle to clear the $2.10 resistance.

• XRP price started a recovery wave above the $2.050 zone.
• The price is now trading above $2.060 and the 100-hourly Simple Moving Average.
• There is a connecting bearish trend line forming with resistance at $2.090 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair could continue to move up if it settles above $2.160.

XRP Price Faces Uphill Task

XRP price remained supported above $2.00 and started a recovery wave, like Bitcoin and Ethereum. The price was able to climb above $2.020 and $2.050 to enter a positive zone.

There was a clear move above the 23.6% Fib retracement level of the downward move from the $2.2130 swing high to the $1.990 low. However, the price is now facing resistance near $2.10. There is also a connecting bearish trend line forming with resistance at $2.090 on the hourly chart of the XRP/USD pair.

The price is now trading above $2.060 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $2.10 level and the trend line. The first major resistance is near the $2.1250 level.

A close above $2.1250 could send the price to $2.160 and the 76.4% Fib retracement level of the downward move from the $2.2130 swing high to the $1.990 low. The next hurdle sits at $2.220. A clear move above the $2.220 resistance might send the price toward the $2.280 resistance. Any more gains might send the price toward the $2.350 resistance. The next major hurdle for the bulls might be near $2.450.

Another Decline?

If XRP fails to clear the $2.10 resistance zone, it could start a fresh decline. Initial support on the downside is near the $2.050 level. The next major support is near the $2.00 level.

If there is a downside break and a close below the $2.00 level, the price might continue to decline toward $1.9650. The next major support sits near the $1.920 zone, below which the price could continue lower toward $1.850.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $2.020 and $2.00.

Major Resistance Levels – $2.10 and $2.160.

The Trump administration’s newly released 2025 National Security Strategy (NSS) failed to mention digital assets and blockchain tech. The focuses instead on AI, biotech, and quantum computing.

Released Friday, the NSS is a key policy document framed by the White House. The policy papers lay out how the President views global threats and opportunities.

The pro-crypto administration has so far taken significant steps for the industry, including establishing the President’s Working Group on Digital Asset Markets, signing the GENIUS Act for stablecoin regulation and dropping several enforcement actions against crypto firms.

However, skipping any mention of Bitcoin in global economic policy discussions suggests that digital assets remain outside core security planning.

“We want to ensure that U.S. technology and U.S. standards — particularly in AI, biotech, and quantum computing — drive the world forward,” the national security strategy statement read.

Besides, Trump, who campaigned on becoming the “crypto president”, established a strategic national Bitcoin reserve. However, he later said that the stash will be funded with seized Bitcoin and not fresh BTC purchases.Trump’s Commitment Over Crypto as National Strategic Issue

The President has previously made strong on-record commitments, framing digital assets as part of the US’ national strategic issue.

For instance, at the Bitcoin Conference in Nashville in 2024, Trump stressed that the future of crypto and the future of Bitcoin “will be made in the USA, not driven overseas.”

Further, in several policy rollouts, Trump positioned global competitors as potential beneficiaries if the US fails to adopt crypto-friendly policies.

The strategy has only mentioned “digital finance” in non-crypto terms, pointing to international economic systems and payment rails, failing to address decentralized networks.National Security Strategy Shakes BTC Price, Token Slid Below $88K Over Weekend

The impact of the White House’s latest document was reflected in the price of Bitcoin, plunging below $88,000 over the weekend.

However, the world’s largest crypto has risen 1.96% in the past 24 hours to $91,429, per CoinMarketCap data. A close above $91,600 could target $93K, while failure risks a pullback to $89.5K support. Bitcoin is trading at $91,143 at press time.

One enigmatic post from Michael Saylor propelled Bitcoin over $4,000 in less than three hours early in Asian morning on Monday. His “₿ack to Orange Dots?” message sparked speculation about MicroStrategy’s accumulation strategy, pushing the digital asset from just below $88,000 to above $91,000.

This response highlights how the executive chairman’s communications can strongly influence market sentiment, even while the overall market sentiment remains gripped by extreme fear.

Decoding the Orange and Green Dot System

Michael Saylor’s color-coded system wields major market influence. The “orange dots” denote each Bitcoin purchase event by MicroStrategy, visible on the company’s StrategyTracker.com portfolio chart. Each marker represents another step in the company’s robust Bitcoin accumulation plan.

The chart’s green line displays the average purchase price of all acquisitions, serving as a performance benchmark. As of Dec 8, MicroStrategy held 650,000 BTC valued at $57.80 billion, with an average cost of $74,436 per coin. This position reflected a gain of 19.47%, translating to about $9.42 billion in unrealized profits.

Recently, Saylor added a new twist to this visual vocabulary. His cryptic “green dots” have spurred speculation about potential strategy changes. The green dashed line—tracking the average cost—has taken center stage. Some analysts believe higher buying activity could move this metric upward.

Within hours of Saylor’s update, the price soared above $91,000. The day’s range stretched from $87,887 to $91,673, highlighting marked volatility around the signal.

Market Dynamics and Trader Positioning

Despite the rally, market sentiment remained fragile. The Fear and Greed Index signaled continued anxiety, but long-short ratios showed bullish trader positioning. As fear and profit transitioned, market psychology remained complex.

Data from CoinGlass revealed Binance and OKX reported 52.22% long positions versus 47.78% short, while Bybit’s bullish skew was even stronger at 54.22% long and 45.78% short. The latest four-hour futures volume showed $106.77 million (56.23%) long against $83.11 million (43.77%) short. Traders seemed optimistic despite fearful sentiment metrics.

The split between sentiment indicators and trader positioning highlights today’s market complexity. Many are willing to wager on sustained momentum, especially after influential signals from major holders, though fear persists in the background.

MicroStrategy’s influence extends further. The company recently built a $1.44 billion cash reserve to cover dividends and provide 21 months of liquidity. On December 1, 2024, it acquired 130 BTC for about $11.7 million at $89,960 per coin, bringing total holdings to 650,000 BTC.

Strategic Evolution and Market Implications

The corporate approach has shifted in recent weeks. CEO Phong Le recently admitted MicroStrategy could sell Bitcoin if the stock drops below 1x modified Net Asset Value—should equity or debt not be raised. In November 2024, the mNAV touched 0.95, bringing this scenario closer to reality.

This marks a move away from the former “never sell” stance. Annual dividend requirements of $750 million to $800 million have forced the firm to consider new liquidity, making its market role resemble a leveraged Bitcoin ETF. Shares have lost over 60% from highs, raising questions about continued accumulation in volatile times.