December Crypto Economic Calendar: Key events this month that could set the stage for 2026

November saw price swings not seen since the start of the year, but December could set the tone for crypto markets going into 2026, with events like the Ethereum Fusaka upgrade and the Fed’s interest rate decision already on the radar. Watch these dates, they could move markets.

What happened in November?

Bitcoin’s latest slide has investors asking that exact question: what happened? The market is flashing echoes of the turbulence last seen at the beginning of 2025, which also marked the last time Bitcoin tested levels near $80,000. For much of the year, institutional flows into spot Bitcoin ETFs were widely credited with smoothing out volatility. That held true, until November.

Since the start of the month, Bitcoin has drifted sharply lower, falling from roughly $110,000 to the $85,000–$90,000 range by late November. The sudden resurgence in volatility has triggered a swirl of theories. Some analysts argue it’s a classic shift to risk-off positioning among large institutions. Others point to pressure on Bitcoin-treasury companies after MSCI signalled it may exclude firms heavily invested in Bitcoin from flagship benchmarks. Another camp cites the Fed’s hawkish tone during its 29 October rate cut, when Bitcoin was still trading above $110,000. Or is it a mix of the above? 

Despite the selling, there are pockets of divergence. The number of mid-sized holders, wallets with at least 100 BTC, has been rising since 11 November. It has been incremental, but still a potential early sign of incoming support, according to market watchers. Whether that proves durable, or meaningful, is still too early to call.

What’s happening in December? 

Fusaka Ethereum upgrade

3 December

Why investors care

The Ethereum “Fusaka upgrade” is a major network overhaul that aims to make Ethereum faster and cheaper by changing how it stores and validates data. It enables high‑volume Layer‑2 activity while keeping the network secure. Ethereum upgrade timelines have in the past been marked by delays and postponements, and the date could shift. 

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Fed interest rate decision

10 December

Why investors care

There was a notable market dip in stock and crypto markets after the last Fed rate cut at the end of October, where Fed Chair Jerome Powell warned investors that another rate cut in December wasn’t a given. That sentiment has since improved with two Fed governors saying in the last week of November that a deteriorating labour market justifies another cut, and one Goldman Sachs economist foreseeing numerous cuts into next year. 

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FOMC economic projections

10 December

Why investors care

The Federal Open Market Committee provides a forecast of key economic indicators such as GDP growth, unemployment rates, inflation, and the future path of the federal funds rate. They only happen four times a year and help markets, economists, and policymakers understand the Federal Reserve’s outlook on the economy and its likely monetary policy moves.

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Bittensor (TAO) halving 

14 December 

Why investors care

Bittensor’s scheduled halving will cut daily TAO issuance from roughly 7,200 to 3,600, lowering token inflation and tightening supply, a setup that could support prices if demand for the AI-crypto network continues to grow.

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US unemployment 

16 December

Why investors care

Data releases for the US labour market have been intermittent due to the government shutdown, which was only recently resolved. With the September figures arriving only in November, they will have to serve as the basis for the Fed’s rate decision on 10 December, given that the November numbers are only due after the Fed decision. The November numbers will be the first current economic data for the Fed since October.

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US inflation

18 December

Why investors care

Like the unemployment figures, this month’s Consumer Price Index data will be released after the Fed’s final rate decision of the year. The timing is unusual – almost a horse-before-the-cart scenario – due to the government shutdown. Still, for the first time since October, investors and policymakers will receive a crucial snapshot of the US economy’s current health.

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FOMC minutes 

30 December 

Why investors care

Markets have been particularly sensitive to the Fed’s tone since it began cutting rates in September, with the last hawkish rate cut a notable example. Investors will be scrutinising the minutes to gauge sentiment among the 12 FOMC policymakers.

*This information is not intended to be nor does it constitute financial, tax, legal, investment or other advice; nor is it a call to trade. The information is intended as general market commentary for information purposes only. Before making any decision or taking any action regarding your finances, you should consult a qualified Financial Advisor.