Bitcoin On-Chain Data Update – December 23, 2025
📊 [Breaking News] BTC On-Chain
Price: $87,435 📉 (-1.3% decline)
Trading Volume: $23.79B (Last 24h) 💰
Active Addresses: 141,485 (Stable/Low) 👥
Hash Rate: 1.01 EH/s (-5.6% decline) ⚡
→ Continued adjustment amid extreme fear (24) ahead of $27B options expiration (26-27)
Data Updated: December 23, 2025 07:30 UTC
📋 Key Data Summary
Current Price
$87,435
24-Hour Trading Volume
272,072 BTC
Market Cap
$1,745.33B
Total Blocks
929,088
📈 Detailed On-Chain Metrics
👥
Active Addresses
141,485
Almost flat since the previous reading of 141,642. Despite the price drop, there has been no significant dropoff, indicating the network’s resilience, but it remains at a low level.
🟡 Stable at a low level
💥
Coinday Destruction
0.9154 (Surge)
Doubled from the previous reading (0.4222). Active movement of older coins is occurring, suggesting some long-term holders are adjusting or distributing positions ahead of option expiration.
🔴 Selling Pressure Increasing
⚡
Hashrate
1.01 EH/s (-5.6%)
A reversal of the previous recovery. The price’s decline to the $87,000 range may have once again caused miners near the break-even point to cease operations.
🔴 Reversal of Decline
😨
Fear & Greed Index
24 (Extreme Fear)
Market sentiment has deteriorated to “Extreme Fear.” Historically, the low 20s have often been a buying opportunity for contrarians.
🔴 Extreme Fear
📊
SOPR
Est. 0.98-1.01
Falling near the break-even point. Short-term holders are exiting at small or equal losses, reflecting market uncertainty and hesitation.
🟡 Break-Even Point
📈
MVRV Ratio
1.54-1.65
Falling to the lowest level in 2025. Market value is approaching realized value, entering fundamentally undervalued territory.
🟢 Undervaluation Suggestion
🎯 Overall Analysis
Market Conditions: Price fell back to $87,435 (-1.3%). The biggest concern is the upcoming $27 billion (approximately ¥4 trillion) options expiration on December 26-27, the largest of the year. The resulting uncertainty, combined with thin trading during the holiday season, is pushing the market into “Extreme Fear (index 24).”
Key Points to Watch:
1. $27 Billion Options Expiration: High volatility will remain until the expiration on the 26th and 27th. There will be strong pressure to adjust positions.
2. Coinday Destruction Spike: The sudden rise to 0.9154 is a warning signal. Old coins are moving, and there may be risk-averse selling ahead of the expiration.
3. MVRV Undervaluation: The decline to the 1.5 range is near the bottom in 2025. While weak in the short term, it suggests an attractive entry level in the medium to long term.
4. Hashrate Instability: The high correlation with price indicates that the business environment for miners remains challenging.
Outlook: A cautious approach is necessary in the short term. Amid holiday-like low liquidity, nervousness continues as options expire. However, the combination of extreme fear and low MVRV levels has historically been a favorable opportunity for a reversal. Whether the $85,000 support line can be held will determine the trend over the New Year.
⚠️ Investment decisions are made at your own risk. This data is for informational purposes only.
