Bitcoin On-Chain Data Update December 15, 2025

Bitcoin On-Chain Data Update
December 15, 2025 | Updated at 23:00 UTC
📊 [Breaking News] Correction Continues, Concerns Over Sharp Hash Rate Decline
Current Price
$89,596
📉 -2.1% (relative to recent high)
Hash Rate
912 EH/s
⚡ -10.8% (24h)
Active Addresses
109,552
👥 Slight Decline
Trading Volume (24h)
$19.77B
💰 Maintaining High Levels
📋 Key Data Summary
Market Cap: $1,788B
24h Transactions: 360,204
24h Volume: 220,903 BTC
Block Reward: 3.125 BTC + Fee
📈 Detailed On-Chain Metrics
⚡
Hash Rate Hashrate: Significant Decline Alert
912 EH/s (-10.76%)
A significant decline suggests miners are withdrawing (capitulating). The price drop has led to a decline in profitability (-11%), likely resulting in inefficient miners ceasing operations.
👥
Active Addresses: Weak
109,552 (-0.7%)
Network activity appears to be stagnating. This suggests a temporary slowdown in the influx of new entrants amid a price correction.
🐋
Whale Activity: Selling Pressure
$3.4B (December Sales)
Since the beginning of December, whales (large investors) have been observed selling approximately $3.4 billion worth of shares. Profit-taking continues, limiting the upside.
📊
MVRV Ratio: Healthy Range
Estimated 1.8 – 2.2
The market value to realized value ratio remains within a healthy bull market range. Overheating is beginning to subside, suggesting a healthy correction within the long-term uptrend.
💰
High Transaction Volume
220,903 BTC ($19.77B)
On-chain fund movements remain high even during the price correction. Market liquidity is strong, suggesting dip-buying demand exists.
🎯 Overall Analysis and Outlook
Market Status: Focus on correction and miner activity.
Price Trends: Tracing around $89,596. Down approximately 2.1% from the recent high, the price is testing the $89,000 support line. While the upside is heavy, a sudden collapse has yet to occur.
Miners’ Plight: The most worrying indicators are the sharp decline in hash rate (-10.76%) and the deterioration of miner profits (-11%). As the price decline has caused miners to fall below their break-even point, they are shutting down their machines, posing a risk of short-term selling pressure due to the resulting sale of BTC holdings (miner capitulation).
Supply and Demand Balance: Profit-taking is dominant, with large investors (whales) selling the equivalent of $3.4B in December. Meanwhile, valuation indicators such as MVRV remain at levels that do not suggest overheating, suggesting a healthy adjustment in the medium to long term.
Outlook: In the short term, maintaining support at $89k-$90k is crucial. Caution is warranted until the hash rate decline stops and miner selling pressure subsides. A recovery in the number of active addresses will likely be a leading indicator of a return to the next uptrend.
⚠️ Disclaimer: This report is for informational purposes only, based on publicly available on-chain data, and does not constitute investment advice. Cryptocurrency trading involves high risk. Investment decisions are made at your own risk. Data current as of December 15, 2025.