✍️Useful signal from VanEck's December ChainCheck.
https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-vaneck-mid-december-2025-bitcoin-chaincheck/
🟢While ETP holders are dumping, corporate treasuries bought 42,000 $BTC ($3.7B) in the first half of December - largest monthly haul since July.
🟢Hashrate dropped 4% (worst since April 2024), which historically preceded 90-day gains 65% of the time. The split is clear: 1-5 year holders are selling, 5+ year holders aren't moving.
🟢VanEck's read: weak on-chain, but liquidity improving, smart money accumulating. Bullish structure forming under the correction.