MARKETS week ahead: December 15 – 21Crypto Total Market Cap, $CRYPTOCAP:TOTALXBTFXLast week in the news The Fed cut interest rates by 25 basis points, aligning with market expectations. US equity markets reacted positively, however, concerns regarding AI-valuation made Friday a red-day, where S&P 500 closed the week at 6.827. Weakening US Dollar supported the price of gold which headed higher, modestly below its ATH, closing the week at $4.299. Notes from some Fed officials over uncertainty whether interest rates should be further lowered, pushed the 10Y US yields higher on Friday, closing the week modestly below the 4,2%. The crypto market aligned with general market volatility, however, BTC managed to hold ground at $90K. As it was highly expected, the Fed decreased interest rates by 25 basis points. The balance of risks and a focus on Fed's dual mandate continues to be at the core of Fed's decisions. As per Fed Chair Powell, the economy is perceived to be expanding at a moderate pace, with evident slowing in the labour market, and an unemployment rate edging up. Inflation continues to be “somewhat elevated”, with risks to the upside. It has been also announced that the Fed will initiate purchases of short-term Treasury securities as needed to maintain an ample supply of reserve balances. According to the Summary of Economic Projections, the GDP forecasts were modestly upgraded for 2026, with inflation projections still above the 2% target. The course of monetary actions in 2026 for the moment remains unclear, and would depend on data. U.S. markets and crypto investors are watching as the Bank of Japan (BOJ) prepares to raise interest rates to the highest level in about 30 years, signalling a shift away from decades of ultra-low monetary policy. Rising Japanese rates and a stronger yen are seen as potential headwinds for risk assets, including Bitcoin, because they threaten to unwind the long-standing yen carry trade that has supported liquidity for speculative investments. This tightening could put downward pressure on Bitcoin prices even as other central banks, like the Fed, maintain easier policy. Crypto markets are reacting with increased volatility as traders reassess macro risks tied to global rate shifts. There has been a lot of discussion in the news regarding the potential new Fed Chair, after the mandate of current Chair Powell expires in May 2026. JPMorgan CEO Jamie Dimon publicly endorsed former Federal Reserve governor Kevin Warsh as a strong candidate to be the next Fed chair. His comments come as President Donald Trump is reportedly considering Warsh along with White House economic adviser Kevin Hassett for the role. Dimon suggested Hassett may be more likely to push for near-term rate cuts, aligning with Trump’s preferences, but emphasized his support for Warsh’s qualifications. Oracle (ORCL) posted its quarterly results on Wednesday, posting a total revenue increase of around 14% y/y, which was slightly below analysts’ expectation. Its revenue from cloud services grew strongly, around 34%, however, it was not enough to offset broader concerns. The company raised its fiscal 2026 capex forecast primarily for AI-focused cloud data centers and GPU capacity expansions. Regardless of relatively solid results, Oracle's stocks fell sharply, as a result of investors concerns whether the AI-facility milestones could be achieved. U.S. regulators have given preliminary approval to several major cryptocurrency firms, including Ripple, Circle, BitGo, Paxos and Fidelity Digital Assets, to establish national trust banks under federal oversight. These conditional charters would allow the companies to manage and hold assets and settle payments nationwide, though they cannot yet accept deposits or make loans, and final approval is still required. The move represents a notable step toward integrating digital-asset businesses into the traditional banking framework. CRYPTO MARKET The crypto market faces pressure from weak liquidity, large leveraged liquidations, and ETF outflows, amid macro concerns. Regardless of the Fed rate cut by another 25 bps, the Bank of Japan is set to lift rates to a 30-year high, strengthening the yen and threatening the carry trade that fuels risk assets. Crypto markets are reacting with heightened volatility as traders reassess global monetary risks, as well as future economic outlook and monetary measures in the US. The crypto market was traded in a mixed manner during the previous week. Total crypto market capitalization was increased by less than 1%, where $21B has been added. Daily trading volumes also remained flat on a weekly level, trading around $224B on a daily basis. Total crypto market capitalization increase from the beginning of this year currently stands in a negative territory of -6%, with a total funds outflow of $185B. During the week crypto coins had their both red and green days, leaving the total weekly change flat. BTC ended the week flat, while ETH managed to add less than 2% to its total value. ZCash continues to gain market attention, managing this week to increase its value by 27%, and was one of the extremely rare coins with such a strong performance. Monero added 5% w/w to its total value, while DOGE gained 3% w/w, same as Theta. Few coins which finished the week in red were Filecoin, with a drop of more than 10%, Polkadot was down by 5%, same as Tron. This week DASH closed in a red zone, with a drop of 6,2% in value. Increasing activity among circulating coins continues. This week, BTC added new coins to the market by 0,1% w/w. It was also interesting that DOGE increased its number of circulating coins by 3,9%. Solana had an increase of 0,3%, while Avalance, DASH, ZCash and Algorand increased the number of coins by 0,1%. This week Filecoin added 0,3% of new coins. Crypto futures market The crypto futures market edged modestly higher over the week, as both Bitcoin and Ether futures posted small but consistent gains across the curve. The move reflects a period of stabilization following recent consolidation, with price action suggesting cautious re-engagement rather than a decisive shift in sentiment. Bitcoin futures advanced by 0.86% to 0.95% across maturities. Gains were evenly distributed along the curve, with December 2025 closing at $90,440 and longer-dated maturities such as March 2027 settling at $97,730. The parallel nature of the move indicates incremental buying interest rather than aggressive positioning, while the maintained upward slope of the curve continues to point to steady medium-term expectations. Ether futures outperformed Bitcoin on a relative basis, rising between 1.83% and 1.95% w/w. The December 2025 maturity closed at $3,088, while March 2027 settled at $3,398. The consistent gains across maturities suggest improved confidence in ETH, with buyers gradually returning after several weeks of subdued activity. Overall, this week’s performance reflects a constructive but cautious tone in crypto futures markets. The limited magnitude of gains suggests that participants remain selective, awaiting clearer directional signals. Nonetheless, the stability of the curve structure and steady upward adjustments indicate that the market is building a foundation for potential further recovery.