Bitcoin News Today: Bitcoin's Financial Plumbing Lays Ground for ETF-Driven Bull Run

Coinbase's Premium Index for Bitcoin surged above zero in early December 2025, signaling a potential resurgence in U.S. ETF-driven demand for the cryptocurrency. This development coincided with a series of large on-chain deposits from BlackRock into Coinbase Prime, the exchange's institutional custody and execution platform. The deposits, totaling over $422 million in Bitcoin and Ethereum, underscore the growing role of institutional players in shaping Bitcoin's price dynamics and liquidity landscape.

According to blockchain analytics from Lookonchain and Arkham Intelligence, BlackRock transferred 3,722 BTC ($321.19 million) and 36,283 ETH ($101.72 million) to Coinbase Prime on November 24, 2025 according to blockchain analytics. These movements followed a prior deposit of 4,471 BTC ($390.8 million) in the same week according to reports, highlighting the asset manager's active participation in the spot Bitcoin and Ethereum ETF ecosystem. Such inflows are often interpreted as preparatory steps for ETF liquidity management, including creation or redemption cycles. For traders, these actions align with historical patterns where institutional accumulation has coincided with short-term bullish momentum, particularly as Bitcoin hovered near key resistance levels.

The timing of these deposits is significant against a backdrop of expanding derivatives markets. Nasdaq's recent proposal to increase the options contract limit for BlackRock's iShares Bitcoin Trust (IBIT) to 1 million contracts-a 40-fold expansion-has been cited by analysts as a structural catalyst for institutional adoption. Max Keiser, a prominent crypto commentator, argued that this move resolves liquidity constraints for market makers, potentially unlocking leveraged demand and propelling Bitcoin toward a new all-time high. "The financial plumbing is now in place for institutions to deploy capital at scale," he noted, referencing the correlation between inventory accumulation and price stability.

Current on-chain metrics, however, suggest a mixed picture for Bitcoin bulls. While the asset reclaimed $90,000 in late November, Glassnode data indicated thin liquidity above $84,000 and a low Short-Term Holder (STH) Profit/Loss Ratio of 0.07x, reflecting ongoing selling pressure. Analysts emphasized that sustained demand between $84,000 and $90,000 is critical to solidify the recent rebound. Meanwhile, derivatives activity remained dominated by short-covering rather than long-position building, with open interest declining and funding rates near neutral.

Weekend volatility further complicated the outlook. Bitcoin's push toward $90,000–$100,000 faced resistance as large sell orders emerged in the $88,000–$91,000 range. Traders cautioned that weekend-driven rallies often fizzle without institutional support during weekdays, a pattern observed in prior attempts to break through $100,000. Technical analysts noted that Bitcoin's ability to hold above $85,300-respecting a Fair Value Gap-remained a key near-term test.

The broader market context also points to the interplay between crypto and traditional finance. BlackRock's ETF inflows have been linked to correlations with tech-heavy indices like the Nasdaq, where companies with crypto exposure have seen valuation boosts according to blockchain analytics. Meanwhile, the Federal Reserve's upcoming rate decisions are expected to influence year-end sentiment, with short-term momentum remaining fragile.

For now, the market is watching whether BlackRock's continued deposits and derivatives expansion can catalyze a sustained rally. While institutional flows reinforce Bitcoin's integration into mainstream finance, traders must navigate thin liquidity and resistance clusters as they assess the next phase of the bull case.