According to Michal van de Poppe (@CryptoMichNL), the Chinese yuan (CNY) is breaking higher, which he characterizes as a bullish signal for the business cycle, source: X post, Dec 24, 2025. He states that the ETH/BTC pair bottomed when the yuan bottomed in April, indicating a historical correlation between CNY inflection points and ETH relative performance, source: Michal van de Poppe on X, Dec 24, 2025. He expects that as CNY breaks upwards, ETH could see a strong upside breakout, making ETH price action a potential beneficiary if the correlation holds, source: Michal van de Poppe on X, Dec 24, 2025.

According to @ReutersBiz, global equities rose while safe-haven assets including gold and government bonds fell on signs of easing US-China trade tensions, source: Reuters Business reut.rs/4owIDFM. For crypto trading, this risk-on backdrop is material because BTC and ETH have shown increased correlation with equities since 2020, indicating higher sensitivity to macro news flow, source: IMF blog Crypto Prices Move More in Sync With Stocks, imf.org, January 2022.

According to Cas Abbé, gold is rallying toward a new all-time high and he argues BTC typically lags gold, implying a potential BTC ATH if gold breaks out, source: Cas Abbé on X, Aug 30, 2025. Cas Abbé cites a prior instance where gold set an ATH in April and Bitcoin printed a new ATH roughly one month later as evidence of this lag pattern, source: Cas Abbé on X, Aug 30, 2025. Based on Cas Abbé’s view, traders can monitor a confirmed gold ATH breakout as a leading indicator for BTC momentum and time entries around a presumed one-month lag while maintaining risk controls given this is an observational correlation, source: Cas Abbé on X, Aug 30, 2025.

According to GreeksLive, the overall market sentiment is predominantly bearish in the short term, following a sharp decline to the $98-99K range. Most traders expect further downside movement towards the $94-96K range, driven by macroeconomic correlations. This information is crucial for traders considering short-selling opportunities or hedging against potential losses.