Santa forgets about crypto this year and David Beckham's pronetics hits the breaks on its Bitcoin

Strategy. You're watching Coin Desk Daily. I'm your host, Jen Sanassi.

Bitcoin and ether plummeted more than 22% in the fourth quarter, closing up December

without the much-anticipated Santa Rally.

That missing holiday boost highlights just how fragile these markets become when liquidity dries up and risk appetite fades.

Historically, a Santa Rally sees prices climb during the final week of December as investors rebalance portfolios.

But this year, the late year flows were

missing. Instead of a new leg higher, December looked more like a massive positioning reset.

In fact, this was Bitcoin's worst December since 2018, shifting the quarterly narrative firmly

into risk off territory. Utility or privacy. The transparency of traditional blockchains forces a difficult

choice. Break free from this limitation with midnight. Meanwhile, Cypherpunk Technologies, the digital asset

firm backed by the Winklevoss Twins is scooping out more Zcash. The company just purchased $28 million

worth of the cryptocurrency, bringing its total holdings to over 290,000 tokens, that accounts for

nearly 1.8% of the entire circulating supply. While the broader market corrected in October,

Zcash has been a massive outlier, surging over 1,200 since September. Cypherpunk's average

costs sits at roughly $334 per token, making them one of the few treasury

firms currently in the black. Despite the aggressive buys, shares of Sife were down over 6% this

morning. And finally, the health sciences firm co-founded by football icon David Beckham is halting

its Bitcoin buying spree. Pernetic says the prolonged downturn in the market has forced to change in

strategy. Just two months ago, CEO Danny Young said the firm was targeting $1 billion in revenue

into Bitcoin within five years, buying one Bitcoin every single day to scale the business.

That strategy officially came to an end on December 4th. Pernetic says it won't sell what it already has.

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