The crypto market saw a broad correction today, with Bitcoin slipping below $88,000 and altcoins like Audiera and WIF posting sharp losses. Ethereum hovered near $3,000 after a 1.5% drop, while the NFT sector led declines with over 9% losses across top collections. The crypto market plunged $58 billion today. The total market cap is down to $2.91 trillion. BTC dragged altcoins like Midnight (NIGHT) down by a whopping 28% in the last 24 hours.
Despite everything, VanEck, issued a rather optimistic forecast for 2026. But 2025 was not all bad. According to a Financial Times report, a record $8.6 billion worth of crypto deals were struck in 2025. PitchBook data suggests that 267 crypto deals were struck this year. This marks an 18% rise compared to 2024. “It’s been the busiest year for us in crypto deals by a mile,” said Charles Kerrigan, partner at law firm CMS. Furthermore, in 2026 the number of crypto deals are expected to go up.
“Traditional financial players realise this asset class is here to stay,” said Diego Ballon Ossio, partner at Clifford Chance. “And they need to get their business into that so they just need to acquire.”
Explore: Bitcoin Pattern Suggests 2026 Is Likely “A Consolidation Year,” Says VanEck 2026 Predictions Report
World Liberty Financial’s USD1 Stablecoin Surges By $150 Million
Solana is down 37%. Dogecoin and Cardano lost over 60%. Avalanche and Shiba Inu took the worst hits, declining nearly 70%.
While Altcoins are struggling, US President Donald Trump’s World Liberty Financial’s USD1 Stablecoin’s market value rose by $150 million. It climbed roughly $2.74 billion to $2.9 billion.
The Trump family-linked stablecoin, USD1, just saw a $150M supply increase in a single day.
As the asset cements its position as a top-10 stablecoin, the market is reacting to its massive integration into global exchange liquidity. #USD1 pic.twitter.com/4qAY6uWnf0
— Conor Kenny (@conorfkenny) December 24, 2025
The surge came shortly after Binance announced its USD1 Boost Program. Binance is offering enhanced yields of up to 20% annual percentage rate on USD1 held in its Simple Earn Flexible products. According to the company, it is designed to help USD1 holders to maximise their rewards. “We are kickstarting the first promotion with USD1 Simple Earn Flexible Products,” said Binance.
Santa came early
@Binance just unwrapped a massive gift for the USD1 community. USD1 holders can now earn up to 20% APR on @Binance Earn, limited at $50,000 USD1 per user.
More Details
: https://t.co/pra5ia2mjh
— WLFI (@worldlibertyfi) December 24, 2025
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Russia Unveils Proposal To Regulate Crypto
Russia is set to permit both qualified and non-qualified (retail) investors to acquire digital assets under specific rules. However, investors will be limited to purchasing 300,000 rubles worth of crypto annually under the new framework.
Interestingly, both qualified and non-qualified investors will need to pass a test in order to invest.
“According to the concept, digital currencies and stablecoins are recognized as currency values, they can be bought and sold, but they cannot be used to pay within the country,” the government statement said.
Bank of Russia prepares cryptocurrency regulation, may let unqualified investors buy crypto assets.
pic.twitter.com/t6ZgV4k1y7
— Kenny Nguyen (@mrnguyen007) December 23, 2025
Meanwhile, qualified investors will be able to buy unlimited amounts of any cryptocurrencies, except anonymous tokens, after passing a risk-awareness test.
DISCOVER: 16+ New and Upcoming Binance Listings in 2025
US Spot Bitcoin and Ethereum ETFs saw net outflows yesterday ahead of the holiday season.
US-listed Bitcoin and Ethereum ETFs saw net outflows yesterday ahead of the holiday season. Bitcoin ETFs saw net outflows of nearly $188.6 million yesterday and $500 million last week, per SoSoValue data. Holiday trading volumes thinned out, amplifying volatility as Bitcoin tested $84,450 support and Ethereum’s RSI signalled bearish momentum.
ETF FLOWS: On December 23.#BTC ETFs saw $-188,63M in net outflow.#ETH ETFs saw $-95,52M in net outflow.#XRP ETFs saw $8,18M in net inflow.#SOL ETFs saw $4,19M in net inflow. pic.twitter.com/6VI3fK7TTP
— mracrypto (@MRACRYPTO_) December 24, 2025
Vincent Liu, CIO of Kronos Research, said the outflows from BTC and ETH ETFs reflect year-end mechanics rather than a shift in investor conviction, with thin liquidity, portfolio rebalancing, and profit-taking driving the moves.
The Bank of Japan raised rates by 25 basis points. This too contributes to a risk-off sentiment that saw crypto markets extend slides even as equities surged. Japan also proposed cutting crypto tax to a flat 20%, boosting local traders under a separate framework.
The post Crypto News Today: Latest Updates for 24 Dec 2025, Bitcoin Slips Below $88k, Drags Altcoins Down appeared first on 99Bitcoins.