Ether looking strong but Bitcoin struggles below $90K

Crypto prices rise again but full-blown rally still MIA

Crypto prices continue their divergence with equity markets, being left behind as the latter continues to rally. While we continue to hold above the November lows, it has been a bounce distinctly lacking in enthusiasm, and last week saw the price shy away from $94,000 for bitcoin for the second time in a month. It is a more positive picture for ether, whose recovery has been more convincing, but until the price can clear the November highs then this rally remains suspect.

UK pushes forward with crypto regulation

The UK Treasury plans to bring cryptocurrencies under FCA oversight from 2027, aligning digital assets more closely with rules that govern traditional financial products. The move follows a rise in crypto-related scams and aims to improve consumer protection while providing regulatory clarity. For crypto markets, this means a more restrictive but clearer operating environment. Higher compliance costs will likely squeeze smaller or riskier operators, while larger, better-capitalised firms should benefit. Tighter rules may slow innovation at the margins, but should also support institutional participation over time.

What we’re watching – More central bank decisions and data deluge

December isn’t going quietly it seems. The Fed rate cut might be behind us but we still have plenty this week, including a BoE rate cut and a rate hike in Japan. Meanwhile, payrolls, inflation and retail sales all come out in the US, providing plenty for crypto traders and others to chew over. For the moment stock appear to be in a rotation phase, with investors having moved away from tech in the wake of Broadcom and Oracle’s numbers. Given crypto’s strong alignment with big tech, this might continue to crimp the rebound in bitcoin, ether and the rest.