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The cryptocurrency market experienced fluctuations and rebounds this week, with both Bitcoin and Ethereum recording significant gains, indicating market expectations for changes in macroeconomic policies. Recent events such as the anonymous transfer of 300 BTC and Ripple's share sale suggest that institutional investors remain attentive. Although there is some uncertainty surrounding optimistic predictions for the U.S. stock market, the increased centralization in the Perp DEX market and active financing in the DeFi sector reflect market vitality. At the same time, the recent liquidation events serve as a reminder for investors to pay attention to risk management. The Federal Reserve may face policy divergence, intensifying market volatility. The decline in altcoin trading volume indicates that market sentiment is leaning towards value-based assets. Overall, the cryptocurrency market is currently in a wait-and-see adjustment phase, and future trends will need to closely monitor changes in macroeconomic and regulatory policies. Currently, the cryptocurrency market presents a cautiously optimistic attitude.

FTX bankruptcy causes turbulence in the cryptocurrency market, with Bitcoin dropping to $89,320, a daily decline of 3.3%. The U.S. SEC and CFTC are intensifying investigations, and there are calls within the industry for stricter regulations. Meanwhile, Ethereum founder Vitalik Buterin announced a major upgrade of 'Ethereum 2.0' to be launched in December, aiming to enhance scalability and security, which is expected to significantly improve network performance. This change may restore confidence in the crypto market and alleviate current downward pressure. Investors should pay attention to regulatory developments and technological upgrades, and must not overlook risk management.

The Financial Supervisory Commission announced that foreign virtual currency traders can register in Taiwan. Once the relevant special law is passed, they must obtain a license to conduct business. So far, nine companies have completed registration, including HeYa Digital Technology, TuoHuang Digital Technology, Modern Wealth Technology, Weight Technology, FuSheng Digital, Cross-Chain Technology, CoinTrust Technology, HongZhu Digital, and Chain Science. The Financial Supervisory Commission emphasized that any VASP (Virtual Asset Service Provider) that has not completed anti-money laundering registration is not allowed to provide services. Currently, the Taiwan dollar regulatory system has entered the third stage, implementing an anti-money laundering registration management system. The next step will be to promote the formulation of the Special Legislation for the Virtual Asset Service Act, with the draft already submitted for review by the Executive Yuan. In simple terms, Taiwan is gradually incorporating foreign virtual currency traders into its domestic regulatory system, and in the future, they must obtain a license to provide services.

Binance has recently obtained authorization from the Abu Dhabi Global Market (ADGM), becoming the first global cryptocurrency exchange to operate under an internationally recognized framework. This move enhances its compliance network and brings greater trust to users. The approval from the Abu Dhabi Financial Services Regulatory Authority (FSRA) highlights its stringent consumer protection and transparency standards, indicating that the region is moving towards an advanced digital asset regulatory hub. With the new license, Binance can expand globally while providing a regulated and robust trading environment for institutional and long-term investors, signaling a safer and more mature future for the crypto ecosystem.

0x Information Report, December 8, despite the market seemingly viewing another interest rate cut by the Federal Reserve as a foregone conclusion, pushing the U.S. stock market close to historical highs last Friday, the results of this week's Federal Reserve policy meeting may not provide the true impetus for a bull market in stocks and other risk assets from interest rates. After quietly halting the balance sheet reduction, how the Federal Reserve manages its massive balance sheet and whether it injects new liquidity into the market is crucial. The global interest rate strategy team at Bank of America stated last Friday that they expect the Federal Reserve to announce this week that it will begin purchasing Treasury bills with maturities of one year or less at a pace of $45 billion per month starting in January as part of "reserve management operations." Others believe it may take more time, and that the Federal Reserve doesn't need to take excessive action to keep the market running smoothly. Roger Hallam, the global interest rate head at Vanguard Fixed Income Group, expects the Federal Reserve to start purchasing Treasury bills at a pace of $15 billion to $20 billion per month by the end of the first quarter or early second quarter of next year. Kelly from PineBridge expects the Federal Reserve to cut rates again by 25 basis points on December 10, which will bring the policy rate down to a range of 3.5%-3.75%, moving one step closer to the historical neutral rate of about 3% aimed at maintaining stable economic operations.

0x Information Report: The U.S. Securities and Exchange Commission (SEC) will hold a roundtable discussion on December 15 to delve into policy issues related to financial surveillance and privacy. Among the guests for the discussion titled 'Discussion on Financial Surveillance and Privacy Issues' are Yaya J. Fanusie, Global Policy Director of the Aleo Network Foundation; Jill Gunter, Chief Strategy Officer of Espresso Systems; Zooko Wilcox, Founder of Zcash; Koh, Executive Director and CEO of the Aleo Network Foundation; Simon Letort, Strategic Planning Director of Digital Asset; Nikhil Raghuveera, Co-Founder and CEO of Predicate; and Wayne Chang, Founder and CEO of SpruceID. Guests for the 'Financial Surveillance and Privacy Task Force' include Katherine Kirkpatrick Bos, General Counsel of StarkWare; Carole House, CEO of Penumbra Strategies; Linda Jeng, CEO of Digital Self Labs; Summer Mersinger, CEO of Blockchain Association; Jay Stanley, Senior Policy Analyst of the American Civil Liberties Union; J.W. Verret, Associate Professor at George Mason University School of Law; and Steve Yelderman, General Counsel of Etherealize.

The Shiba Inu has recently stabilized and is approaching the range of 0.0000095-0.0000105. The RSI has rebounded from around 40, indicating that buyers are re-entering the market. The sell-off of Ethereum has also slowed down, forming a bottom in the range, with the RSI around 40, suggesting that upward momentum is beginning to recover. XRP has firmly held the support level of 2.00-2.10; if the sell-off weakens, it may rebound to 2.16-2.20, or even break through to 2.28-2.40. The overall market structure has changed, with buyers starting to absorb supply, making it difficult for sellers to further lower prices, indicating a potential opportunity for recovery. It is important to note that Shiba Inu may drop a zero, and investors should remain cautious when following the upward trend.

The Federal Reserve of the United States may cut interest rates by 25 basis points in December, as the latest PCE index is below expectations. Speculators believe that the cut will boost the prices of crypto assets. The market is closely watching Powell's speech to confirm the direction of the central bank's policy. Meanwhile, the trade conflict between China and the United States and the volatility in the crypto market continue, with BTC having fallen to $80,000. A rate cut is expected to provide a boost by the end of the year.

0xzx shows Coinglass data for December 7: If Bitcoin falls below $87,000, the cumulative liquidation intensity of long positions on mainstream centralized exchanges will reach 491 million; if it breaks above $91,000, the liquidation intensity of short positions will drop to 866 million. The chart does not represent precise liquidation numbers or values, but rather the relative importance intensity of each liquidation cluster. The higher the column, the more intense the reaction will be due to liquidity waves when the price reaches that range.

The cryptocurrency market is experiencing fluctuations and adjustments, with Bitcoin retracting to around $88,000, showing a slightly larger decline than Ethereum, which has fallen below $3,000. Recently, there has been large-scale liquidation across multiple platforms, particularly in long positions, indicating a bearish market sentiment. The unrealized losses of large holders continue to expand, with some institutions, like Huang Licheng, experiencing significant losses and re-entering long positions, reflecting the intense tug-of-war between bulls and bears in the market. Tokens like PEPE and HEMI, which have gained attention, have also seen declines. Overall, the market exhibits a high degree of uncertainty, necessitating close attention to macroeconomic data and regulatory developments. 📉💰🚀 Summary: The current cryptocurrency market is under overall pressure, with a clear downward trend.

The cryptocurrency market is facing multiple impacts today. XRP's spot ETF recorded a trading volume of $58 million on its first day, indicating strong market interest in Ripple. The Babylon mainnet upgrade introduces a joint staking mechanism aimed at optimizing the token economic model. The Canary staking SEI ETF has been listed on DTCC, further enriching investor choices. BlackRock's BUIDL has now become a trading collateral on Binance, increasing market liquidity. Federal Reserve's Kashkari expressed a wait-and-see attitude towards the December decision, which does not affect short-term market sentiment. 666.53 BTC were transferred out from Strategy, valued at approximately $66.81 million, and 195.68 BTC were transferred from an anonymous address, valued at approximately $14.95 million, indicating significant capital flow in the market. VanEck has submitted the 8-A form for the Solana spot ETF to the SEC, bringing new investment tools to the market. However, the cryptocurrency market is hit hard again, with Bitcoin reaching $98,000, and U.S. stock cryptocurrency concept stocks all declining, indicating that market sentiment remains fragile. The Luxembourg finance minister stated that the country's national fund allocates assets solely to Bitcoin, showing continued trust from institutional investors in Bitcoin. 21Shares launched two cryptocurrency index funds, providing more options for investors. Overall, the current cryptocurrency market is in a consolidation phase, with a generally weak trend. 🚀📈💼 Summary: The overall trend of the current cryptocurrency market is weak, but institutional interest remains strong.

Federal Reserve's Williams expects to soon launch a bond purchase program, a move that could further boost market liquidity. Pakistan is considering issuing a rupee-backed stablecoin, with a CBDC pilot project under development, signaling an increased acceptance of crypto in emerging markets. In the past 24 hours, the total liquidation across the network reached $469 million, with the amount of short liquidations exceeding that of long liquidations, indicating a cautious market sentiment. This week, significant net outflows of $1.7161 billion were observed in U.S. Ethereum and Bitcoin spot ETFs, reflecting institutional investors' wait-and-see attitude towards the current market. The Hyperliquid platform has a whale holding of $5.38 billion, with a long-short ratio of 0.84; the top 100% win-rate whales have shifted from long to short, holding $9.24 million in BTC short positions while going long on BTC with 40x leverage, suggesting increasing market divergence. Binance Alpha has launched MetaArena (TIMI), potentially injecting new vitality into the market. ETH has fallen below $3,400, facing adjustment pressure. A newly established wallet deposited 6.27 million USDC on HyperLiquid and went long on ZEC, with Yi Li Hua suggesting that bottom-fishing and liquidation should adjust according to market changes. Overall, the current cryptocurrency market is in a correction phase, and investors should remain cautious.

By introducing CCIP as the cross-chain infrastructure for wstETH, more possibilities have been provided for the expansion of wstETH's liquidity and application scenarios, which helps enhance its market competitiveness. MetaMask's perpetual contract trading volume has surpassed $1 billion, indicating that the decentralized finance (DeFi) sector continues to maintain growth momentum. In addition, ATA and 1INCH have risen by over 12% and 10% respectively, demonstrating strong market demand for high-performance applications and liquidity solutions. From a fundamental perspective, ETH's performance is particularly outstanding. Yi Lihua believes that ETH's fundamentals are strong, and gradually accumulating positions is currently a better investment strategy. Huang Licheng has continuously increased his long position in ETH, with the current position valued at approximately $4.55 million, further confirming the market's optimistic expectations for ETH. Additionally, the Solana board approved a $100 million stock buyback plan, showcasing management's confidence in the project's long-term development. WisdomTree's partnership with Chainlink will bring the net asset value data of the tokenized private credit fund CRDT on-chain, providing investors with a more transparent and efficient investment tool. However, market risks still exist. Data shows that if ETH breaks above $3,521, the cumulative short position liquidation intensity on mainstream trading platforms will reach $1.343 billion, indicating strong bullish sentiment for ETH in the market. Similarly, if BTC drops below $97,652, the cumulative long position liquidation intensity on mainstream trading platforms will reach $2.403 billion, showing significant bearish pressure on BTC. Recently, the "1011 Insider Whale" increased its position by 3,000 ETH and 100 BTC long positions, while the "Chunk Whale" once again increased its position by 259.83 ETH after reducing holdings, indicating that large funds still have a positive outlook on the long-term prospects of the cryptocurrency market. In the past 24 hours, the total liquidation across the network was $1.697 billion, of which long positions accounted for $1.294 billion and short positions accounted for $403 million, showing significant market volatility, and investors need to operate cautiously. In summary, the current cryptocurrency market presents an overall positive trend, but short-term volatility risks cannot be ignored. As the core assets of the market, ETH and BTC's price movements will continue to be influenced by both market sentiment and technical factors. 📈💰🚀 Summary: The current overall trend of the cryptocurrency market is positive, but short-term volatility risks should be monitored.

In the current financial market, the upward trend of the US dollar index has reached 100.225, while the daily increase of the US dollar against the Canadian dollar has reached 0.32%, indicating a strong momentum for the US dollar. This strong dollar environment undoubtedly increases pressure on the cryptocurrency market. Bitcoin (BTC) and Ethereum (ETH), as the leaders in the cryptocurrency market, have both experienced significant price declines, falling below the important support levels of $100,000 and $3,200 respectively, marking new lows since June. Moreover, in the past 24 hours, the total liquidation amount across the network has reached $1.322 billion, with a majority coming from long positions, reflecting the pessimistic market sentiment and the inability of bulls to resist. More notably, the total contract holdings of Ethereum on the network decreased by 13.6% in 24 hours, indicating that investors' concerns about the market outlook are intensifying, and they are also reducing positions to avoid risk. In terms of technical analysis, if Ethereum can break through $3,479, it will trigger the liquidation of $777 million in short positions, while if Bitcoin can rebound to $105,658, it will trigger the liquidation of $2.085 billion in short positions. However, currently, these two price levels are difficult targets for BTC and ETH. At the same time, the market has observed an inflow of $100 million USDT into Binance, as well as a net outflow of $43.1425 million USDT from Binance in the past hour. These capital flow situations indicate that market participants are adjusting their strategies to cope with the current market volatility. In summary, the current trend of the cryptocurrency market remains downward, with insufficient investor confidence and a relatively pessimistic market sentiment. Summary: The cryptocurrency market is currently in a period of adjustment, facing significant pressure in the short term. 📈📉📊

The cryptocurrency market fluctuated significantly today, with Bitcoin's price dropping below $103,000, a decline of 3.25% within 24 hours, indicating a bearish market sentiment. Ethereum performed even weaker, with a 24-hour decline of 4.94%, bringing its price down to $3,546.96. SuiLend is closely monitoring the significant losses issue of Stream Finance and has contacted Elixir to request loan repayment, which may raise concerns about the risks associated with lending platforms in the market. The Sui ecosystem project tokens AIA and MMT both surged significantly, and the AIFI narrative may become a new hot topic, reflecting the market's positive response to innovative projects. The three major U.S. stock indices opened lower collectively, with the Dow Jones falling by 0.68%, and spot gold dropping by 1.76%, indicating a general downturn in financial market sentiment. TAO Synergies made its first investment of $750,000 in the Bittensor subnet fund, while the stablecoin public chain Stable announced the launch of its public testnet, showing that the industry is still actively developing. The founder of ZKsync released a proposal for a ZK token update, stating that all network revenues will be used for repurchasing and destroying ZK tokens, which is expected to boost market confidence. Bitcoin mining company Cipher Mining will issue senior secured notes to raise $1.4 billion, while MMT surged above $0.88 after opening, reflecting a maximum increase of 885% compared to the Binance TGE price, demonstrating the market's high recognition of quality projects. Overall trend: The market is generally bearish, but some innovative projects are performing well, and attention should be paid to risks in the short term.

Bitcoin fluctuated slightly higher with low volatility; Ethereum experienced a larger pullback and continued downward pressure. Market quick review: BTC $110,246 (24h +0.02%) briefly fell below 110k before being bought up by whales and orders were placed, with a net inflow of 144 Bitcoin ETFs, indicating institutional buying intent; ETH $3,881 (24h -0.42%) saw a net outflow of 49,364 Ethereum ETFs, putting pressure on the funds 📉. Infrastructure and custody expansion (Coinbase added custody, Zelle explored stablecoins, Tether high profit expectations) enhance long-term resilience; TeraWulf bonds and Ripple's acquisition signal industry capitalization release, events like Bonk and Curve bring short-term speculation and liquidity differentiation, and CLANKER's short-term surge is a high-risk event 🚀. Overall, the market shows a differentiated pattern of funds favoring institutions and infrastructure asset flow, coexisting with short-term speculative trends. One-sentence summary: The current cryptocurrency market is generally characterized by differentiated fluctuations, with institutional buying support making infrastructure and major coins relatively stable, while speculative coins exhibit extreme volatility.

Overview: Macroeconomic risk appetite rises (S&P, Dow Jones strengthen), frequent actions from institutions and asset management: slight net inflow into Bitcoin ETF, large net outflow from Ethereum ETF, Coinbase Prime expands custody, Ripple's acquisition and mining companies issue bonds, Zelle considers stablecoin cross-border, exacerbating structural differentiation in the market📊. On-chain whales are buying in and increasing positions, along with large transfers to CEX, compounded by BTC having fallen below critical levels and the existence of triggers for long position liquidations, short-term volatility is rising but there is active buying support below⚖️. Overall, we see that liquidity and institutional demand provide medium-term support, while in the short term, we need to be wary of liquidation risks and the impact of ETF flows🔎📉📈 In summary: Under the support of institutional demand and liquidity, the market shows a slight upward trend amidst fluctuations, but short-term volatility and liquidation risks are significant.

Key Interpretation: Federal Reserve officials (Powell, Collins) suggest the possibility of interest rate cuts coexisting with 'moderate tightening.' The dollar index fell to 99.046, and the stock market showed divergence. Market liquidity signals are positive—24h Binance net inflow of 172 million USDT and 85 million USDT entering; meanwhile, approximately 716 million dollars were liquidated across the network (long positions 492 million, short positions 224 million), indicating short-term leverage squeeze and increased volatility. ETH contract holdings decreased by 5.2%, indicating some deleveraging; CME launched Solana contracts and Japan plans to ban insider trading, reflecting progress in compliance and institutionalization. Overall judgment: the funding environment leans towards risk assets driving upward, but uncertainties in macroeconomics and regulation still exist, with short-term focus on high-volatility oscillating upward. 📉📈🔁 One-sentence summary of the current trend: Short-term oscillation is biased upwards, and under liquidity support, risk assets have rebound potential, but macro and regulatory risks still pose a high probability of pullback.

Macro and On-Chain Overview: U.S. stocks strengthen, NVIDIA hits new highs driving an increase in risk appetite, leading to capital inflows into cryptocurrencies (Binance net inflow in the last hour ≈ 30,991,300 USDT) 📈; if BTC falls below 110,000 USD, CEX long liquidation intensity may reach 1.519 billion USD, and volatility will significantly increase ⚠️. UXLINK suspected to be breached, approximately 11.3 million USD has flowed out, security incidents exacerbate selling pressure and credit risk 🔐. Federal Reserve officials' rhetoric indicates a long-term expectation of interest rate cuts but short-term caution, with uncertainty in the interest rate path, maintaining market polarization 🏦. Kraken plans to launch a Bitcoin yield protocol and whale accumulation ASTER indicates an increase in institutional arbitrage and alternative coin demand, ETH's eight-hour average funding rate approaches neutral (0.0009%), with the perpetual market overall not biased towards long or short 💱. Operation Suggestions: participate in the short term trend but with strict stop-loss, focus on BTC's key thresholds and developments in security incidents. One-sentence summary: The current market is driven by risk appetite showing moderate upward movement, but macro interest rate uncertainty and security incidents may trigger severe pullbacks at any time.