Market Round Up: December 22, 2025

Rootstone's Market Round Up

╰ Bitcoin continues to trade sideways as liquidity providers quote conservatively and directional conviction remains limited ahead of clearer macro signals.

╰ Ethereum core developers confirmed the Hegota upgrade timeline for 2026, with a primary focus on state data reduction to improve network efficiency and long-term scalability.

╰ Hyperliquid recorded approximately US$430 million in net weekly outflows, as competition with emerging perpetual DEXs such as Aster and Lighter accelerates and liquidity fragments across venues.

╰ Strategy and Trump-backed American Bitcoin continued dip-buying, yielding ~25% YTD despite rout—countered ETF mixed flows and reinforced treasury trend amid leverage unwind.