Bitcoin Analyst Warns of Possible Price Drop to $10,000

By: crypto insight|2025/12/18 18:00:15

Key Takeaways

Bitcoin’s recent stability around $87,000 highlights market uncertainty and pressure.
Analysts suggest a potential plummet to $10,000, impacting major altcoins like Ethereum and Cardano.
Bitcoin’s recovery momentum has weakened, with rapid price rebounds and declines.
Defensive strategies are increasing in the derivatives market, particularly with near-future options.

WEEX Crypto News, 18 December 2025

Navigating Current Bitcoin Market Dynamics

The cryptocurrency market is undergoing significant pressure, underscored by the fluctuating Bitcoin prices around $87,000. Recent patterns suggest an alarming possibility, with analysts warning of a potential drop in Bitcoin’s value to an unprecedented $10,000. Such a decline could also bring about severe consequences for key altcoins such as Ethereum (ETH), Cardano (ADA), and Ripple (XRP).

Market Pressure and Uncertainty

Bitcoin has been exhibiting weakened recovery momentum, characterized by temporary spikes followed by swift downturns. This behavior has been amplified by the broader uncertainties in the macroeconomic environment. Unlike traditional stock markets, Bitcoin’s performance has been relatively weaker, reflecting its vulnerability to economic volatility.

During a notable rebound on Wednesday evening, Bitcoin briefly surpassed the $90,000 mark before quickly dropping back below $87,000. This volatile pattern has further complicated predictions on the cryptocurrency’s future trajectory. The derivatives market has responded to these fluctuations by increasingly preparing for potential downturns.

The Role of Derivatives in Market Sentiment

A significant indicator of the current market sentiment is the influx of put options, notably concentrated at the $85,000 strike price. These options are set to mature around December 26, creating an atmosphere of caution. Derive.xyz notes that the 30-day implied volatility has escalated to nearly 45%, while the skew remains in a negative territory, signifying the market’s heightened awareness of possible downside risks. This bearish mood is expected to persist into the first half of 2026.

Analysts’ Perspectives on Bitcoin’s Trajectory

According to FxPro’s chief analyst, Alex Kuptsikevich, the uptrend seen in late November has been disrupted, with the current market structure closely resembling previous deep correction phases. As a result, defensive trading strategies have noticeably increased, reflecting market concerns.

Regarding Ethereum, the short-term market sentiment remains cautious. There is an ongoing accumulation of put options around the $2,500 mark, which expires on December 26. This trend suggests a persistent apprehension about ETH’s short-term performance.

Longer-term Market Outlook

Bloomberg strategist Mike McGlone offers a long-term perspective, warning that Bitcoin’s previous surge beyond $100,000 might be paving the way for a more significant cyclical downturn. In extreme scenarios, this could lead to a drop towards the $10,000 range by 2026. McGlone attributes this speculation to the tendency of highly speculative assets to undergo sharp corrections after a period of rapid wealth accumulation.

On-chain data reveals that short-term holders have been incurring losses for over a month, while long-term holders have been selling or enduring paper losses of approximately 500,000 Bitcoins since July.

Factors Influencing the Future of Bitcoin

Looking ahead, several factors will play a crucial role in shaping Bitcoin’s and the broader cryptocurrency market’s direction. Geopolitical risks, market leverage levels, and the liquidity environment will serve as essential variables influencing these market conditions.

As Bitcoin’s trajectory remains uncertain, investors and market participants must remain vigilant and informed. Platforms like WEEX offer an accessible gateway for engaging with these developments [register here](https://www.weex.com/register?vipCode=vrmi).

FAQ

What is the current state of the Bitcoin market?

The Bitcoin market is currently experiencing instability, with prices fluctuating around $87,000. Recent trends suggest that Bitcoin may face a significant downturn, potentially dropping to $10,000. Analysts emphasize caution due to macroeconomic uncertainties and market volatility.

Why are derivatives markets significant in assessing Bitcoin’s outlook?

Derivatives markets, particularly options, provide insight into traders’ expectations about future price movements. The recent increase in put options around key price levels indicates a defensive posture among traders, anticipating further price declines.

What are the implications for major altcoins?

Should Bitcoin’s price drop to $10,000, major altcoins like Ethereum, Cardano, and Ripple could face detrimental impacts, reflecting a broader market correction. The interconnected nature of cryptocurrencies often results in cascading effects across various digital assets.

How might geopolitical risks affect Bitcoin’s future?

Geopolitical risks contribute to market uncertainty and can impact investor confidence and market liquidity. Such risks can exacerbate existing volatility in the cryptocurrency market.

How can investors stay informed?

Investors should remain informed about the latest market trends and analyses. Utilizing platforms like WEEX, which provide real-time updates and insights, can be valuable for making informed decisions in the dynamic cryptocurrency landscape.

-- Price

On March 16, 2026, in Dallas, Texas, USA, CanGu Company (New York Stock Exchange code: CANG, hereinafter referred to as "CanGu" or the "Company") today announced its unaudited financial performance for the fourth quarter and full year ended December 31, 2025. As a btc-42">bitcoin mining enterprise relying on a globally operated layout and dedicated to building an integrated energy and AI computing power platform, CanGu is actively advancing its business transformation and infrastructure development.

2025 Full Year and Fourth Quarter Financial and Operational Highlights

• Financial Performance:

Total revenue for the full year 2025 was $688.1 million, with $179.5 million in the fourth quarter.

Bitcoin mining business revenue for the full year was $675.5 million, with $172.4 million in the fourth quarter.

Full-year adjusted EBITDA was $24.5 million, while the fourth quarter was -$156.3 million.

• Mining Operations and Costs:

A total of 6,594.6 bitcoins were mined throughout the year, averaging 18.07 bitcoins per day; of which 1,718.3 bitcoins were mined in the fourth quarter, averaging 18.68 bitcoins per day.

The average mining cost for the full year (excluding miner depreciation) was $79,707 per bitcoin, and for the fourth quarter, it was $84,552;

The all-in sustaining costs were $97,272 and $106,251 per bitcoin, respectively.

As of the end of December 2025, the company has cumulatively produced 7,528.4 bitcoins since entering the bitcoin mining business.

• Strategic Progress:

The company has completed the termination of the American Depositary Receipt (ADR) program and transitioned to a direct listing on the NYSE to enhance information transparency and align with its strategic direction, with a long-term goal of expanding its investor base.

CEO Paul Yu stated: "2025 marked the company's first full year as a bitcoin mining enterprise, characterized by rapid execution and structural reshaping. We completed a comprehensive adjustment of our asset system and established a globally distributed mining network. Additionally, the company introduced a new management team, further strengthening our capabilities and competitive advantage in the digital asset and energy infrastructure space. The completion of the NYSE direct listing and USD pricing also signifies our transformation into a global AI infrastructure company."

"As we enter 2026, the company will continue to optimize its balance sheet structure and enhance operational efficiency and cost resilience through adjustments to the miner portfolio. At the same time, we are advancing our strategic transformation into an AI infrastructure provider. Leveraging EcoHash, we will utilize our capabilities in scalable computing power and energy networks to provide cost-effective AI inference solutions. The relevant site transformations and product development are progressing simultaneously, and the company is well-positioned to sustain its execution in the new phase."

The company's Chief Financial Officer, Michael Zhang, stated: "By 2025, the company is expected to achieve significant revenue growth through its scaled mining operations. Despite recording a net loss of $452.8 million from ongoing operations, mainly due to one-time transformation costs and market-driven fair value adjustments, the company, from a financial perspective, will reduce its leverage, optimize its Bitcoin reserve strategy and liquidity management, introduce new capital to strengthen its financial position, and seize investment opportunities in high-potential areas such as AI infrastructure while navigating market volatility."

Fourth Quarter 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the fourth quarter was $1.795 billion. Of this, the Bitcoin mining business contributed $1.724 billion in revenue, generating 1,718.3 Bitcoins during the quarter. Revenue from the international automobile trading business was $4.8 million.

Operating Costs and Expenses

The total operating costs and expenses for the fourth quarter amounted to $4.56 billion, primarily attributed to expenses related to the Bitcoin mining business, as well as impairment of mining machines and fair value losses on Bitcoin collateral receivables.

This includes:

· Cost of Revenue (excluding depreciation): $1.553 billion

· Cost of Revenue (depreciation): $38.1 million

· Operating Expenses: $9.9 million (including related-party expenses of $1.1 million)

· Mining Machine Impairment Loss: $81.4 million

· Fair Value Loss on Bitcoin Collateral Receivables: $171.4 million

Profit Situation

The operating loss for the fourth quarter was $276.6 million, a significant increase from a loss of $0.7 million in the same period of 2024, primarily due to the downward trend in Bitcoin prices.

The net loss from ongoing operations was $285 million, compared to a net profit of $2.4 million in the same period last year.

The adjusted EBITDA was -$156.3 million, compared to $2.4 million in the same period last year.

Full Year 2025 Ongoing Operations Financial Performance

Revenue

The total revenue for the full year was $6.881 billion. Of this, the revenue from the Bitcoin mining business was $6.755 billion, with a total output of 6,594.6 Bitcoins for the year. Revenue from the international automobile trading business was $9.8 million.

Operating Costs and Expenses

The total annual operating costs and expenses amount to $1.1 billion.

Specifically, they include:

· Revenue Cost (excluding depreciation): $543.3 million

· Revenue Cost (depreciation): $116.6 million

· Operating Expenses: $28.9 million (including related-party expenses of $1.1 million)

· Miner Impairment Loss: $338.3 million

· Bitcoin Collateral Receivable Fair Value Change Loss: $96.5 million

Profitability

The full-year operating loss is $437.1 million. The continuing operations net loss is $452.8 million, while in 2024, there was a net profit of $4.8 million.

The 2025 non-GAAP adjusted net profit is $24.5 million (compared to $5.7 million in 2024). This measure does not include share-based compensation expenses; refer to "Use of Non-GAAP Financial Measures" for details.

Financial Position

As of December 31, 2025, the company's key assets and liabilities are as follows:

· Cash and Cash Equivalents: $41.2 million

· Bitcoin Collateral Receivable (Non-current, related party): $663.0 million

· Miner Net Value: $248.7 million

· Long-Term Debt (related party): $557.6 million

In February 2026, the company sold 4,451 bitcoins and repaid a portion of related-party long-term debt to reduce financial leverage and optimize the asset-liability structure.

Stock Repurchase

As per the stock repurchase plan disclosed on March 13, 2025, as of December 31, 2025, the company had repurchased a total of 890,155 shares of Class A common stock for approximately $1.2 million.

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