Crypto Markets: The Game Is Changing

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(December 23 Edition)

Bitcoin is heading into the largest options expiry of the year on December 26, with nearly $23.7 billion in contracts rolling off at once, and that usually brings volatility. A huge amount of open interest is stacked in options, mostly calls, which shows traders are still leaning bullish. But those positions are heavily hedged in spot and futures, and that hedging creates real buying and selling pressure that can distort price. When so much size is concentrated around key strike levels, Bitcoin often gets choppy, rejected at highs, wicked aggressively, or stuck in fake breakouts. Right now, the most important level is around $96,000, the so called max pain zone where option holders lose the most at settlement. Bitcoin does not have to trade there, but with this much money expiring at once, price often reacts near those levels.

Expect messy, unpredictable moves into expiry, then cleaner and more directional price action once the hedging pressure clears after December 26.

NASDAQ is filing paperwork with the SEC to allow trading up to 23 hours a day on weekdays, which is a major shift from traditional market hours. This move is largely inspired by crypto markets, where trading never stops and investors expect access at any time, no matter the time zone. As more people get used to 24/7 crypto trading, stock markets closing overnight feels restrictive and outdated. NASDAQ wants to stay competitive, attract global traders, and keep capital flowing instead of letting attention and liquidity move entirely to crypto.

Coinbase announcing that stock trading is now available shows how much the company is expanding beyond pure crypto. The idea is to become a one stop financial app where users can trade crypto, stocks, and potentially more, all in the same place. This makes investing simpler for everyday users and lowers the barrier between traditional markets and crypto. It also flips the script, instead of TradFi slowly adding crypto, crypto native platforms are now absorbing traditional assets.

Jim Cramer has built a reputation in the crypto world for being consistently wrong on major calls, especially around market tops, bottoms, and long term crypto trends. Because of this, an account called Not Jim Cramer was created to do the exact opposite of what Cramer suggests. Over time, the returns from following the opposite strategy have reportedly outperformed his calls. While it started as a joke, it highlights how reactionary mainstream financial commentary can be, compared to patient, conviction driven investing that many crypto participants follow.

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Magic Eden switching to revenue sharing for stakers is a big alignment move for its community. Instead of all value flowing only to the company, a portion of platform revenue will be shared with users who stake and support the ecosystem. They also plan to move away from seasonal reward programs in favor of a more consistent revenue sharing model. This rewards long term believers and encourages real participation instead of short term speculation. The community response has been mixed, since the exact amount stakers will receive has not been disclosed yet, creating both excitement and uncertainty.

Overall, it reflects a core crypto principle, users should benefit directly from the growth and success of the platforms they help build. Many platforms are now exploring similar revenue sharing models to attract and retain long term investors.