Garlinghouse ignites bold $180K Bitcoin call

December 04, 2025

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Garlinghouse signals $180K ambition as Bitcoin holds near highs and derivatives heat up

Key points:

  • Bitcoin is steady near $93,500 as analysts cite stabilizing leverage, improving spot flows, and a developing inverse head and shoulders pattern that requires a close above $93,200.

  • Ripple CEO Brad Garlinghouse expects Bitcoin to reach $180,000 by the end of 2026, adding a long-term bullish backdrop as derivatives data shows rising short pressure and fragile spot demand.

News - Bitcoin is trading near its weekly high around $93,500 as early signs of recovery appear across leverage metrics and market sentiment. The Fear and Greed Index climbed to 27 out of 100 while ether reached $3,200 after completing its Fusaka upgrade. 

Analysts note that Bitcoin still needs to clear $98,500 to reverse the broader downtrend that began in October.

Ripple CEO Brad Garlinghouse joined Solana Foundation President Lily Liu and Binance CEO Richard Teng at a panel where he predicted Bitcoin will reach $180,000 by the end of 2026. Liu expects Bitcoin above $100,000, while Teng maintained a long-term growth outlook without naming a target.

At the same time, on-chain and derivatives data paint a complex picture. Bitfinex analysts say extreme deleveraging and seller fatigue created conditions for a relief bounce. Bitcoin’s implied volatility has fallen to 48.44%, its lowest since mid-November, and analysts note that the market is running on a leaner leverage base.

Derivatives lean bearish but set up a short squeeze - More than $6 billion in positions are at risk ahead of the Federal Reserve’s rate decision. Roughly $3 billion in shorts face liquidation if Bitcoin rises to $96,250, while $3.52 billion in longs risk wipeout if the price breaks below $89,209. 

Falling open interest and rising perpetual CVD suggest short covering rather than new bullish conviction.

Altcoins stay weak - Altcoin momentum continues to fade. The altcoin season index slipped to 20 out of 100. Privacy coins retreated after strong rallies with ZEC and DASH dropping sharply over the week. A few tokens such as TAO, ENA, and AVAX gained between 4.5% and 8.5%.

Key levels to watch - Bitcoin is approaching a breakout structure on the 12-hour chart. A close above $93,200 opens the door to $96,600 and $99,800. Weakness emerges below $90,400.

Key points:

  • Grayscale’s new Chainlink ETF launched with around $41 million in first-day inflows and more than 1.17 million shares traded, marking a strong debut for the first US spot LINK ETF.

  • LINK climbed between 7% and 9.8% over the week as whale accumulation, rising Open Interest, and a technical breakout strengthened institutional interest.

News - Grayscale’s Chainlink ETF made its US debut on NYSE Arca with a solid opening, drawing about $41 million in net inflows and more than $13 million in trading volume. 

Bloomberg analyst Eric Balchunas described the launch as successful, noting that long-tail assets can still attract sizable ETF demand. SoSoValue data showed $40.90 million in inflows and total net assets reaching $67.55 million on day one.

The ETF, trading under the ticker GLNK, was converted from Grayscale’s existing Chainlink Trust. Grayscale said the launch followed an SEC pathway outlined during the government shutdown and highlighted Chainlink’s suitability as an ETF due to years of product operation and its foundational role in oracle infrastructure.

LINK reacted strongly to the debut. The token rallied between 7% and 9.8% over the past week, briefly hitting $14.63 resistance as volume surged 183% above average. LINK maintained higher lows from its $13.35 base, supported by whale activity. 

Lookonchain reported that 39 wallets withdrew 9.94 million LINK worth $188 million from Binance since October’s correction.

Market dynamics - Open Interest has recovered to around $7 million after an earlier dip, signaling renewed derivatives engagement. Whale positioning remains a critical factor after one wallet accumulated 2.33 million LINK over six months and now faces an unrealized loss of $10.5 million. 

Analysts caution that profit-taking at breakeven levels could add volatility even as institutional demand grows.

Why LINK’s outlook remains divided - Institutional flows through GLNK and strong accumulation trends point to a constructive outlook, yet LINK’s broader recovery still hinges on whether whales continue to hold through resistance tests. 

With price consolidating between $14.39 and $14.44 and buyers watching for a breakout toward $14.63, both continuation and short-term corrections remain possible.

Solana’s new SKR token arrives as Ledger warns of unpatchable smartphone chip threat

Key points:

  • Ledger revealed that MediaTek’s Dimensity 7300 chip, used in Solana’s Seeker phone, contains an unfixable flaw allowing attackers to seize full device control.

  • Solana Mobile confirmed its SKR token launch for January 2026 with a 10 billion supply, designed to govern and support the Seeker ecosystem.

News - A critical security warning collided with Solana Mobile’s ecosystem expansion this week. Ledger disclosed that the MediaTek Dimensity 7300 chip used in the Seeker smartphone contains an unpatchable vulnerability in its boot ROM that allowed researchers to gain full control of the device using electromagnetic pulses. 

Ledger’s Donjon team bypassed the chip’s protections during startup, escalating privileges to the highest ARM level and extracting private keys stored on the device.

Ledger engineers Charles Christen and Léo Benito said the flaw is embedded at the silicon level and cannot be corrected with software updates. They estimated a 0.1% to 1% success rate per attempt but noted that repeated injections enable full compromise “within minutes.” 

MediaTek responded that such hardware attacks are outside the chip’s design scope because it is a consumer-grade component rather than a secure financial module.

Solana Mobile details SKR token launch - Alongside the security disclosure, Solana Mobile released new information about SKR, the native token for its Seeker ecosystem. 

SKR will launch in January 2026 with a total supply of 10 billion tokens. Distribution includes 30% for airdrops, 25% for growth and partnerships, 10% for liquidity, 10% for a community treasury, 15% for Solana Mobile, and 10% for Solana Labs.

SKR will incorporate a linear inflation model that begins at 10% in its first year, decays by 25% annually, and eventually stabilizes at a 2% terminal rate. The token will underpin governance, staking rewards, and coordination across the expanding Solana Mobile network.

How guardians fit into the mobile ecosystem - Solana Mobile also introduced a system of “guardians,” beginning with Solana Mobile itself, followed by groups such as Helius Labs, Double Zero, and Triton One in 2026. 

Guardians validate device authenticity, review DApp submissions, and enforce community standards. Users who stake SKR to guardians will earn rewards for supporting security and ecosystem maintenance.

Fink and Armstrong say crypto is entering the establishment as banks quietly embrace stablecoins

Key points:

  • BlackRock CEO Larry Fink and Coinbase CEO Brian Armstrong said institutional momentum and new legislation are pushing digital assets deeper into mainstream finance.

  • Armstrong revealed that major US banks are already running pilots in stablecoins, crypto custody, and digital-asset trading through Coinbase partnerships.

News - Crypto’s relationship with traditional finance is shifting quickly, according to BlackRock’s Larry Fink and Coinbase’s Brian Armstrong, who appeared together at the New York Times DealBook Summit. 

Armstrong highlighted progress in US policy, pointing to movement on stablecoin legislation and market structure bills that are advancing through Congress. He said 2025 marked a turning point, describing the shift from a “gray market” to clearer federal oversight.

Armstrong criticized earlier federal policy for driving activity offshore and noted that groups such as Fairshake, backed by crypto supporters, are working to push transparent rules forward. He reiterated that Bitcoin has “no chance” of going to zero, pushing back on long-standing critiques from Warren Buffett and the late Charlie Munger.

Fink echoed that sentiment, saying client conversations led him to rethink Bitcoin over the past few years. He characterized the asset as a hedge used during financial and physical insecurity, adding that deficits and asset debasement remain long-term drivers. Fink also noted that leveraged players still influence short-term price action.

Banks move into stablecoins - Armstrong confirmed that major US banks are running pilots with Coinbase to test stablecoin payments, crypto custody, and digital asset trading. 

While he did not name institutions, he warned that banks slow to adopt crypto “will get left behind.” He said top banks are treating stablecoins as an opportunity rather than a threat, despite lobby groups pushing back against the GENIUS Act and other regulatory efforts.

Why regulation matters now - Armstrong said he hopes the Senate will vote on the CLARITY Act soon, noting that well-defined rules will determine how exchanges, token issuers, and banks operate. He believes traditional banks will eventually offer yield on stablecoins once competitive pressure forces them to adapt.

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Interesting facts

  • A South Korean province built a digital tracking system to hunt crypto tax evaders - Gyeonggi Province’s tax department used a new digital system that linked resident registration data with mobile numbers and exchange accounts, helping it track down crypto holders and collect about 6.2 billion won ($4.6 million) in unpaid taxes in 2023.

  • JPM Coin quietly became one of the most used institutional blockchains - In October 2023, JPMorgan’s global Head of Payments said the bank processed over $1 billion in daily transactions through its permissioned JPM Coin system for wholesale clients.

  • Lugano’s “Plan B” turned Bitcoin and Tether into de facto legal tender at the city level - In March 2022, the Swiss city of Lugano partnered with Tether to let residents pay taxes and many local merchants in Bitcoin, USDT, and the city’s LVGA Points token as part of its Plan B initiative.

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Top 3 coins of the day

Zcash (ZEC)

Key points:

  • ZEC was last seen around $362, extending its rebound after recovering from yesterday’s pullback.

  • The DMI kept its bearish posture, with the negative directional line still leading while ADX stayed elevated, signaling that trend strength remained present.

What you should know:

Zcash posted a steady recovery after slipping to its recent lows, with today’s green candle forming alongside a mild pickup in volume. The Supertrend indicator stayed in its sell phase, reflecting a broader downtrend, although the latest price action showed early signs of stabilizing near the lower band of the setup. The DMI continued to lean toward sellers, with the -DI holding above the +DI and ADX showing that momentum still favored the prevailing trend. A couple of external drivers added to the backdrop. Binance’s updated collateral parameters for ZEC have softened some forced-selling pressure, while a broader market rebound helped lift altcoin sentiment. As of now, traders are watching whether ZEC can hold above the $350–$360 area, with the Supertrend flip zone remaining the key region to monitor for any sustained shift in direction.

Bittensor (TAO)

Key points:

  • TAO traded near $314, extending its recovery after climbing back above the 20 SMA.

  • The Awesome Oscillator printed two green bars below the zero line, signaling easing bearish pressure while overall momentum remained negative.

What you should know:

TAO added to its rebound after recently finding a floor near the $280 region, with today’s candle closing comfortably above the 20 SMA around $301. Volume stayed moderate but supportive, reflecting steady dip-buying after several weeks of declines. The wider MA ribbon still trended downward, keeping the broader structure bearish for now, though reclaiming the short-term band marked an initial shift in tone. On the momentum side, the Awesome Oscillator printed two green bars while remaining below zero, showing that sellers lost strength even if a full momentum reversal had not taken shape yet. Sector interest also helped, as the AI narrative regained attention and traders positioned ahead of TAO’s upcoming halving. For now, price action around the $330 zone remains key, with the MA ribbon overhead acting as the next area to monitor for trend confirmation.

Ethereum (ETH)

Key points:

  • ETH traded near $3,205, adding to its recent rebound as price pressed into the lower edge of the Supertrend resistance band.

  • The EWO continued to climb from last week’s lows, with red bars shrinking steadily even as momentum stayed below zero.

What you should know:

Ethereum carried its recovery forward after bouncing sharply from the sub-$2,800 region earlier this week. Today’s candle closed inside the first layer of the bearish Supertrend cloud, showing that buyers kept pressure on a zone that still acts as resistance. Volume stayed healthy during the upswing, although it held below the spike levels seen during the initial reversal. The EWO rose closer to the zero line, with fading red bars pointing to easing bearish momentum. Beyond the chart, interest picked up around Ethereum’s Fusaka upgrade and renewed whale accumulation, both of which helped sentiment improve. For now, traders are watching the $3,250–$3,350 range, where a clear close above the Supertrend cloud would signal stronger upside potential while keeping $3,000 as a near-term support reference.

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