After the final FOMC meeting of 2025, markets pivot toward US data to gauge the next year’s liquidity trajectory. Key releases include retail sales, jobless claims, CPI, PCE, and speeches from Fed officials, with rate-path repricing risk rising. As BRN Research Director Timothy Misir notes, the macro agenda now dominates trading, shifting focus from last week’s cut to data that could validate or challenge that policy move. Strong inflation prints could reinforce a hawkish tilt; softer prints could reopen room for risk assets into year-end.

On-chain metrics show diminishing selling pressure from large holders. CryptoQuant data indicate that wholecoin whale transfers to Binance have fallen to multi-year lows, with the annual average near 6,500 BTC and weekly around 5,200 BTC. This trend signals a reduced willingness to liquidate by top BTC holders, while broader ecosystem expansion pulls funds away from centralized venues. Misir adds that collapsing whale inflows imply waning sell pressure, even as price action remains uneven.