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On one hand, Vanguard has opened Bitcoin ETF trading, while on the other hand, CoinShares has withdrawn its applications for XRP, Solana Staking, and Litecoin ETFs, highlighting a significant divergence in institutional attitudes toward ETFs for different cryptocurrencies.
Bitcoin's price remains stable above the real market mean, but the market structure is similar to Q1 2022, with 25% of supply currently at a loss. The key support range is between $96.1K and $106K; breaking below this range will increase downside risk. ETF capital flows are negative, demand in both spot and derivatives markets is weakening, and volatility in the options market is underestimated. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively updated by the Mars AI model.
Ethereum has activated the key "Fusaka" upgrade, increasing Layer-2 data capacity eightfold through PeerDAS technology. Combined with the BPO fork mechanism and the blob base price mechanism, this upgrade is expected to significantly reduce Layer-2 operating costs and ensure the network’s long-term economic sustainability.
Cryptocurrency projects related to the Trump family were once market favorites, but are now experiencing a dramatic collapse in trust.
Bank of America believes that there is little to fear if Trump nominates a new Federal Reserve Chair, as the White House's ability to exert pressure will be significantly limited if Powell remains as a board member. In addition, a more hawkish committee would leave a Chair seeking to accommodate Trump's hopes for rate cuts with no room to maneuver.
BTC has strongly returned to $93,000. Although there appears to be no direct positive catalyst, in reality, four macro factors are resonating simultaneously to trigger a potential structural turning point: expectations of interest rate cuts, improving liquidity, political transitions, and the loosening stance of traditional institutions.
- 07:38Data: Hyperliquid platform whales currently hold $4.507 billions in positions, with a long-short ratio of 0.87.According to ChainCatcher, citing Coinglass data, whales on the Hyperliquid platform currently hold positions totaling $4.507 billions, with long positions at $2.098 billions, accounting for 46.56% of the total, and short positions at $2.409 billions, accounting for 53.44%. The profit and loss for long positions is -$46.5935 millions, while for short positions it is $159 millions. Among them, the whale address 0x9eec..ab has taken a 15x leveraged full position long on ETH at a price of $3,201.03, with an unrealized profit and loss of -$316,000 at present.
- 07:32HSBC: The current private chain standard for tokenized deposits is now compatible with Ethereum and aligned with ERC-20According to ChainCatcher, Sun Lei, Global Head of Local and Innovative Payment Products at HSBC Global Payments Solutions, stated in an exclusive interview that HSBC has long been investing resources to advance tokenized deposit business. In the future, even if only 5%–10% of commercial bank deposits are tokenized, the scale would still far exceed that of any current cryptocurrency in the market. HSBC's current private chain adopts technical standards identical to Ethereum's EVM compatibility and ERC-20 standards, and it is not ruled out that some user scenarios in the future may require choosing a public chain technology route. Regarding whether tokenized loans will be launched in the next step, HSBC is already discussing related programmable applications with clients.
- 07:32U.S. Treasury yields rise during Asian trading session as markets continue to bet on rate cutsChainCatcher news, according to Golden Ten Data, U.S. Treasury yields rose during the Asian trading session, reversing Wednesday's decline but still remaining within the recent range. This week’s initial jobless claims data will be released this afternoon, serving as a potentially important input ahead of the Federal Reserve’s December rate decision. According to LSEG data, money markets continue to bet on a rate cut, pricing in an 85% probability of a 25 basis point cut. Wednesday’s ADP private sector employment data was weak, showing an unexpected decline in employment for November. According to Tradeweb data, the two-year Treasury yield rose by 1.8 basis points to 3.503%, and the ten-year Treasury yield rose by 2.5 basis points to 4.082%.