⌚ Bitcoin’s Time Machine is Broken

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After nearly 2.5 years of steady growth, Bitcoin’s Realized Cap has finally stalled, according to CryptoQuant founder Ki Young Ju.

So guys, a strong recovery might still come but it could take a few more months. In short-term, Bitcoin’s clearly losing steam.

Here’s what we got for you today:

• 👀 What’s new: BTC, ETH, UNI, BCH, ZEC?

• ⭐ We’re no longer just watching BTC price

• ⭐ Ethereum's got 2 big plans for 2026

• 🔥 Burning hot takes for the road

Right now, $BTC ( ▲ 3.87% ) is stuck between 2 key zones: a potential double bottom forming around $80k–$83k, or a short-term breakout that might fail fast at $92k–$94k.

In this analysis, Eugene will walk through what he’s actually watching on BTC, $BCH ( ▲ 5.85% ) , UNI, and $ZEC ( ▲ 0.51% ) . If you want to understand where BTC could get rejected or supported next. This breakdown will help you see the market more clearly.

2️⃣ BEGINNERS ROAD TO PRO TRADERS

DAY 2: CEX vs DEX & “Not Your Keys, Not Your Crypto”

In Day 1, we have helped you understand what crypto and blockchain actually are. Now it is time to answer the next big question: “Where do I actually buy and trade this stuff?”

For day 2, to answer that question, we’ll walk you through:

• What an exchange is in crypto

• The difference between a centralized exchange (CEX) and a decentralized exchange (DEX)

• Why people keep repeating: “Not your keys, not your crypto”

And more,… If you’re still thinking “CEX vs DEX feels too technical”… don’t worry, this lesson explains everything in the easiest way.

🚢 WE’RE NO LONGER JUST WATCHING BTC’S PRICE

For years, BTC’s four-year cycle has been one of the most trusted patterns in crypto. But now, that model might be breaking, and top analysts are starting to notice.

Tom Lee says we could be seeing a structural shift, a break from Bitcoin’s classic 4-year cycle. And he’s not alone.

Price still matters, but institutions and long-time strategists are now focusing on deeper signals.

Instead of asking, “Will BTC bounce this week?” the better question is: “Is Bitcoin breaking away from the 4-year cycle for good?”

It’s more interesting (and messier) than it looks.

So what's happening beneath the surface?

• Institutional money is flowing in, but it’s being absorbed by heavy sell pressure from long-term holders and OG whales

• Some analysts think we’re just in a typical post-peak correction. Others believe this cycle might be getting completely rewritten.

• Daan Crypto Trades points out that seasonal patterns broke, Q4 was supposed to be strong, but it wasn’t. Now, all eyes are on Q1 2026 to see if the old patterns still mean anything.

Meanwhile, ETFs and big fund inflows are happening, but not moving price like they used to.

Because those inflows are getting absorbed by whales selling. That demand isn’t translating into new highs anymore.

Kyle Doops adds that the Coinbase premium (which usually shows US institutional interest) has stayed negative. They’re definitely more hesitant.

Basically, the money is still here. It’s just not chasing green candles anymore.

And there’s more.

• We just saw $10.9B worth of BTC move onto exchanges in one month → the highest since May 2021

• That’s usually a red flag. Big exchange inflows often mean investors are getting ready to sell, not hold

• Jacob King says it straight: this looks like a market top forming

Even Ali Charts, who still trusts the 4-year rhythm, says BTC’s cycles tend to be extremely regular → around 1,064 days from bottom to top, then ~364 days down.

And by that count, we’re due for more pain before the next strong leg.

Sean Farrell from Fundstrat agrees that short-term pressure is real, but thinks the long-term outlook is still strong.

We might be heading into a smaller, quicker bear market, and that could mark the end of the old 4-year structure.

And the experts don’t even agree:

• Tom Lee thinks we’re breaking free from the cycle completely

• Jurrien Timmer (Fidelity) says the October 2025 peak was the final top, and 2026 will likely be bearish, with support around $65K–$75K

So yeah… it’s messy out there. Maybe we shouldn’t rely so heavily on the 4-year halving theory anymore.

That idea served us well in the early years, but now that institutions, ETFs, and global macro conditions are driving flows, we may need a new lens.

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💪 ETHEREUM WITH 2 MAJOR UPGRADES IN 2026

Ethereum devs just dropped their roadmap for next year. They’re going for two major ones: Glamsterdam in the first half of 2026 and Hegota in the second.

They're shifting to a faster, twice-a-year upgrade schedule to stay competitive with faster chains that ship quicker. Here’s what we know so far:

Glamsterdam (H1 2026):

• Focuses on scaling + cheaper gas

• Adds a big feature called ePBS (enshrined proposer-builder separation), basically splits up who proposes and who builds blocks, right at the protocol level

• That helps make Ethereum more decentralized and censorship-resistant

• Devs will lock in the final feature list after the holidays

Hegota (H2 2026):

• Combines updates to both the execution layer (Bogota) and consensus layer (Heze)

• The deep-dive discussion starts at the next big All Core Devs call on Jan 8

• Final details will be decided by the end of February

Security is also getting a major boost. Ethereum’s aiming to hit 128-bit verifiable security before 2026 ends.

Because in zkEVM systems, if someone breaks the cryptographic proof, they can literally do anything: mint tokens, change balances, hijack the chain. It’s game over.

In George Kadianakis’s words: “With zkEVM protecting hundreds of billions, we can’t compromise.”

To make this happen, they’re syncing tools like soundcalc in Feb and baking them into Glamsterdam by May.

The devs are also working on stuff to:

• Make Ethereum easier for new users

• Reduce the tech friction that makes it scary for non-devs

• Close the gap between raw power and friendly experience

We’re moving from big, unpredictable forks… to a steady rhythm. Twice a year, like a software update. This 2026 roadmap tells me a few things:

• Ethereum knows it’s lagging behind in UX and speed, and it's finally fixing that

• They're thinking long-term, with a real plan to bring in both developers and institutions

• They make Ethereum feel more like a modern OS: predictable, modular, evolving

Now is a good time to learn what’s under the hood because the Ethereum of 2026 might not behave like the Ethereum we knew.

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🔥 BURNING HOT TAKES FOR THE ROAD

Solana wins 2025! Artemis CEO just dropped the stats, Solana beat Ethereum as the most used chain. See the comparison

$UNI ( ▼ 2.75% ) rallied 32% in 3 days following the UNIfication proposal. With 95.8% voting in favor, the vote will close on Dec 26. Read more

Bhutan allocated 10,000 BTC ($875M) to build the Gelephu Mindfulness City. Is this the world's first Bitcoin-powered nation? Read more

A crypto user lost nearly $50M $USDT ( ▼ 0.07% ) in an address poisoning attack after doing a "test transaction." All in 30 minutes. Read more

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⚠ This newsletter is for informational purposes only and should not be considered investment advice. Traders should conduct thorough research, understand the risks, and carefully evaluate their decisions before investing in cryptocurrency.