12.09 Briefing

BTC Price: Around 90,300

Technical Analysis:

After a sharp decline last night, BTC has been consolidating around the 90,000 mark. From the 15-minute chart, the price is running below the MA25, indicating a weak short-term sentiment, but the MA99 still maintains a relatively smooth upward structure, suggesting that the larger trend has not been disrupted; rather, the rapid pullback is more due to market news disturbances.

On the news front, U.S. banks have officially opened channels for advisors to recommend cryptocurrency assets, seen as an important signal of traditional finance further embracing digital assets. Meanwhile, the Canada Revenue Agency continues to intensify its regulatory scrutiny of cryptocurrency users, obtaining information on 2,500 users from DapperLabs and initiating a new round of tax investigations. This combination of “easing + tightening” has led to fluctuations in market sentiment: the incremental increase from institutions is a positive sign, but the details of regulation have also brought short-term uncertainty.

Overall, considering the low risk of macro events this week, BTC is expected to maintain a range-bound pattern, with a focus on the gains and losses within the 89,800—91,000 USD range and changes in trading volume.

Hot News:

1. Binance: Confirms an employee used internal information for personal gain, has been suspended and legal responsibilities will be pursued.

As the world's largest cryptocurrency exchange, such incidents inevitably affect users' confidence in platform information security and internal governance. It is hoped that Binance will provide more details in the future and further strengthen employee behavior supervision and information isolation mechanisms to reduce similar risks.

2. UAE National Security Senior Official: Bitcoin has become a key pillar for future financing.

A senior official from UAE national security stated that Bitcoin has become a key pillar for future financing, highlighting the country's acceleration in embracing cryptocurrency assets to achieve economic diversification. Currently, the UAE has the highest rate of cryptocurrency holdings globally, and this statement may indicate more policy support coming into effect.