📅Top 10 Hottest Chinese-Language Topics on December 16, 2025

**Central Bank Cryptocurrency Activity (Major):** The People's Bank of China (PBoC) has again been accused of illegal cryptocurrency activities, dampening market sentiment and considered one of the main reasons for today's decline.

**BTC Falls Below $86,000:** Bitcoin's price fell below the $86,000 mark (currently trading at approximately $86,280), a nearly 30% pullback from its all-time high of $126,000 in October.

**HashKey Listing Tomorrow:** Hong Kong-licensed exchange HashKey completed its IPO pricing (HK$6.68, near the upper limit), raising $206 million, and will officially list on the Hong Kong Stock Exchange tomorrow (December 17).

**Lido Co-founder Sells Off:** On-chain data shows that an address associated with Lido co-founder Konstantin Lomashuk sold 14,585 ETH (approximately $42 million) in the past hour.

** Morgan Stanley Bullish on Gold: Morgan Stanley released a report stating that stablecoin companies are aggressively purchasing gold reserves, a potential risk factor for rising gold prices.

Altcoins Buck the Trend: Amid a general market decline, ACE, EDEN, and PORTAL bucked the trend, rising by 8%-18% respectively.

US Crypto Sector: In pre-market trading, MicroStrategy (MSTR) and Coinbase (COIN) both fell, reflecting risk aversion in the market.

Hong Kong Tax Investigation: The Hong Kong Financial Services and the Treasury Bureau stated that it will strengthen information sharing on crypto assets to combat tax fraud and evasion.

Global Market Cap Shrinks: The total global cryptocurrency market capitalization fell to $3.07 trillion, a slight decrease of 0.05% in the past 24 hours.

Macroeconomic Data Await: The market awaits the release of US non-farm payroll data; institutional analysts believe that the market is currently in an observation period of "economic reset."