1. Market observation

Keywords: BTC, SOL, ETH

The cryptocurrency market has recently experienced a major turmoil, with the overall market value shrinking by more than $250 billion. In this wave of decline, Bitcoin depreciated by 5% to $95,519, while Ethereum also fell sharply from its recent high to $3,500. This market volatility not only affected the price of the currency, but also triggered significant movements among industry insiders. Among them, Ethereum researcher Max Resnick chose to leave Ethereum and switch to the Solana camp. More strikingly, Tron founder Justin Sun decisively sold his Ethereum portfolio worth about $119.7 million after Ethereum broke through the $4,000 mark, which triggered widespread market speculation about his investment strategy.

Despite these seemingly negative signals in the market, the cryptocurrency sector still shows many positive developments. At the government level, a Russian lawmaker proposed to establish a national Bitcoin reserve to deal with sanctions, which reflects that digital assets are gradually being integrated into the global financial strategy. At the same time, the acceptance of Bitcoin in the corporate world is also increasing. With the support of the National Center for Public Policy, Amazon shareholders proposed to convert at least 5% of the company's assets into Bitcoin, and Microsoft has previously considered a similar plan. Cryptocurrency mining company Riot Platforms plans to raise $500 million for Bitcoin acquisitions through private placement of convertible senior notes, showing the continued confidence of institutions in the cryptocurrency market.

From the perspective of market analysis, Tom Lee, an analyst at Fundstrat, pointed out that the recent rise in Bitcoin may indicate a future strength in the S&P 500 index, a judgment based on the current high risk appetite of investors. He also emphasized the correlation between Bitcoin and the U.S. stock index, which also explains the possible connection between the current Bitcoin pullback and the stock market decline. It is worth mentioning that the Indian company Jetking Infotrain purchased 12 Bitcoins, becoming the country's first listed company to hold Bitcoin. This groundbreaking move is particularly important under India's strict regulatory environment and may open up new prospects for the development of cryptocurrencies in the region.

2. Key data (as of 09:42 HKT, December 11)

• S&P 500: 6,034.91 (+26.52% year-to-date)

• Nasdaq: 19,687.24 (+31.15% year-to-date)

• 10-year Treasury yield: 4.235% (+21.01 basis points this year)

• US dollar index: 106.058 (+4.64% year-to-date)

• Bitcoin: $96,094.72 (+127.36% year-to-date), with a daily spot volume of $103.89 billion

• Ethereum: $3,573.56 (+56.64% year-to-date), with a daily spot volume of $56.27 billion

3. ETF flows (December 10 EST)

• Bitcoin ETF: +$154.5 million

• Ethereum ETF: +$224 million

4. Important Dates (Hong Kong Time)

Non-farm payrolls (09:30 p.m., December 6)

• Actual: 227,000 / Previous: 36,000 / Expected: 200,000

Unemployment rate (09:30 p.m., December 6)

• Actual: 4.2% / Previous: 4.1% / Expected: 4.2%

Core inflation annual rate (09:30 p.m., December 11)

• Actual: To be announced / Previous value: 3.3% / Expected: 3.3%

Annual inflation rate (09:30 p.m., December 11)

• Actual: To be announced / Previous value: 2.6% / Expected: 2.7%

PPI monthly rate (09:30 p.m., December 12)

• Actual: To be announced / Previous value: 0.2% / Expected: 0.3%

5. Hot News

• Japanese Crypto Exchange Coincheck to List on Nasdaq Today

• Source: Trump wants Bitcoin to reach $150,000 during his presidency

• Goldman Sachs CEO: If regulations change, we will consider participating in cryptocurrency trading

• Ripple receives final approval from New York State Department of Financial Services for stablecoin RLUSD

• Italy to scale back cryptocurrency capital gains tax increase

• Coinbase has launched Magic Eden(ME) and will launch Gigachad(GIGA) and Turbo(TURBO)

• Microsoft Shareholders Vote Against Bitcoin Investment Proposal

• MARA Holdings Increases Holdings by 11,774 Bitcoins

• Fuel Labs announces launch of native FUEL token and launches Fuel Genesis program

• DWF Labs announces $20 million AI Agent Fund

• Binance to List RAY, KOMA, VIRTUAL, and SPX U Perpetual Contracts

• GSR makes market for MOVE tokens, 70 million tokens have been deposited to the exchange

• Decentralized trading platform Bluefin may launch BLUE on December 11

• Binance launches Magic Eden (ME)

• Matrixport: Greed and Fear Index shows that Bitcoin may enter a consolidation period

• Market News: South Korea's parliament approves postponement of taxation on cryptocurrency income

• Michael Saylor: Even if Bitcoin price reaches $1 million, I will continue to buy

• Google announces quantum computing progress: It takes less than five minutes to complete a supercomputer's 10 to the 25th power year calculation

• Morgan Creek founder: Crypto market expected to enter bear market in mid-2025

• OpenAI officially launches AI video generation model Sora

• Ethereum Developer Max Resnick Joins Solana Camp Out of ‘Frustration’ with Ethereum

• Russian Lawmaker Proposes Creating a National Bitcoin Reserve

Powered by OSL - Hong Kong's largest OTC trading platform, providing regulated digital asset services to the market since 2018.