Bitcoin Surges Past $88,000 as Ethereum Exchange Supply Hits 2016 Low

2025-12-20 11:31

Bitcoin's price has surged beyond $88,000, marking a significant milestone as Ethereum's exchange supply reaches its lowest level since 2016. This reduction in Ethereum availability indicates a trend towards long-term holding, thereby increasing buying pressure on the cryptocurrency. Meanwhile, Bitcoin's dominance in the market is on the rise. In related developments, Bitcoin miner Cango reported generating 125.8 BTC this week. Additionally, Ethereum co-founder Vitalik Buterin sold 29,500 KNC and 30.5 million STRAYDOG tokens for USDC. The broader crypto market is buoyed by expectations of Federal Reserve rate cuts, following a weak U.S. labor market report, which also lifted the Nasdaq 100 by 1%.

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