December 8th. QCP released its daily market observation, stating that on Sunday, BTC experienced intense volatility in the $88,000 to $92,000 range, while ETH quickly surged from $2,910 to $3,150. As year-end liquidity continues to decline, the market has become particularly sensitive to small fund flows.However, despite the strong oscillation, the liquidation scale remains small, indicating that market participation and positions have been declining this quarter. The open interest of the two major asset perpetual contracts has dropped 40–50% from the October high, and retail sentiment has returned to bear market levels.Meanwhile, the supply side is significantly tightening. Around 25,000 BTC have been withdrawn from exchanges in the past two weeks, ETF and corporate holdings have exceeded exchange balances for the first time, and ETH exchange reserves have also dropped to nearly a decade low, indicating that institutional funds are quietly accumulating when retail investors are exiting.The market focus is now on Wednesday's FOMC meeting. Although the market generally expects a 25bp rate cut, the balance sheet guidance will determine the year-end direction of risk assets. Currently, BTC is still oscillating between $84,000 and $100,000, with market depth continuously deteriorating. As the year-end holidays approach, any breakthrough on either side could trigger the next major trend.

December 8th, CryptoQuant analyst Darkfost recently stated in an article that in this current cycle, altcoins have generally performed poorly, causing investors to become more cautious in their altcoin choices. However, the latest trading volume data indicates that the market may be entering a phase more favorable for Dollar Cost Averaging (DCA) into altcoins.The latest data shows that the 30-day trading volume of altcoins paired with stablecoins has once again fallen below the annual average, a range that has historically been seen as an "accumulation phase," suitable for investors betting on the continuation of the bull market trend to gradually build their positions.The analysis points out that this low-volume phase may last for several weeks or even months, providing a relatively ample time window to optimize the DCA strategy. However, given the current high uncertainty in the market environment, investors need to simultaneously devise stop-loss and invalidation strategies to guard against further market decline. At the same time, this cycle has already demonstrated extensively: timely profit-taking is crucial when trading volume picks up again and sentiment improves.

December 8th, according to Coinglass data, in the past 4 hours, the total liquidation across the entire network was $50.63 million, with long liquidations totaling $6.0198 million and short liquidations totaling $44.6113 million.In the past 24 hours, a total of 129,131 people were liquidated globally, with a total liquidation amount of $474 million. The largest single liquidation occurred on Hyperliquid - ETH-USD, amounting to $17.8128 million.

December 8th, according to the latest weekly report from CoinShares, last week saw a net inflow of $7.16 billion into digital asset investment products, bringing the total assets under management to $180 billion, still far below the all-time high of $264 billion.Bitcoin attracted $3.52 billion in inflows, while XRP ($2.45 billion) and Chainlink ($52.8 million, a record inflow accounting for 54% of the asset management scale) also saw strong demand; products shorting Bitcoin saw significant outflows, suggesting a relief in negative sentiment.Almost all regions globally saw inflows, with the most notable being the United States, Germany, and Canada, receiving inflows of $4.83 billion, $96.9 million, and $80.7 million, respectively.

December 8th, Elon Musk proposed deploying a localized AI satellite in a sun-synchronous orbit and building a satellite factory on the moon, adding gigawatts of computing power annually to advance toward a "Kardashev Type II civilization." Google's "Sun Catcher" and Amazon's LEO project are also betting on space-based computing power to alleviate the pressure of AI on data centers and electricity. BiyaPay analysts believe that once space-based computing power is established, it will reshape the global computing power and settlement network, benefiting cross-border payments and digital asset transactions. As a multi-asset trading wallet, BiyaPay has already supported trading USDT for US stocks, Hong Kong stocks, and futures, and provides zero-fee cryptocurrency spot contracts.

December 7th, according to GMGN data, BNB Chain ecosystem Meme coin DOYR surged over 45% in the past 2 hours, with a market capitalization of $15.38 million and a total trading volume of $41.40 million.Last night, Binance Co-CEO He Yi stated in a post that issuing coins by "finding angles" from tweets is a community behavior, and users should be aware of investment risks regarding DOYR (a typo where DYOR was mistakenly written as DOYR). Subsequently, CZ retweeted this post, stating, "DOYR = DO Your meme? Tweeting does not imply endorsement of any meme or symbol."BlockBeats reminds users that Meme coins often lack practical use cases, experience significant price fluctuations, and investment should be approached with caution.

December 7th, CryptoRank released the latest data showing that the average cash cost for a mining firm to mine 1 Bitcoin has risen to $74,600. When factoring in depreciation and stock-based compensation (SBC), the total cost reaches $137,800.With the total network hashrate surpassing the symbolic milestone of 1 ZH/s, competition has significantly intensified, leading to a sharp decline in miner profitability. This trend is prompting many publicly listed mining firms to shift their capacities to higher-profit businesses such as AI/HPC (High-Performance Computing), rather than continuing to invest in traditional Bitcoin mining. The industry is thus diverging into two major models:• Infrastructure Providers: Repositioning mining data centers for high-margin computing businesses• Traditional Miners: Struggling to survive in an increasingly competitive, near-zero-profit environment

December 7th, Jupiter's Chief Operating Officer Kash Dhanda recently responded to community inquiries, stating that the team's previous claim on social media that Jupiter Lend's treasury has "zero contagion risk" was inaccurate. Jupiter had previously promoted its lending treasury as having a "risk-isolated" structure, stating that there would be "no cross-contamination between trading pairs, thereby eliminating any contagion risk," but this content has since been deleted.In a video posted on Platform X, Dhanda confirmed that the treasury is indeed designed with isolation but also acknowledged the presence of rehypothecated assets in Jupiter Lend. Last week, the Solana lending platform Kamino, out of concern that the risk model could mislead users, temporarily banned Jupiter Lend's migration tool. Kamino's co-founder also publicly criticized Jupiter's risk description.

December 7th, Bloomberg's Senior ETF Analyst Eric Balchunas wrote that, despite Bitcoin's recent sharp correction, comparing it to the 17th-century "Tulip Mania" is not appropriate. He pointed out that the tulip mania lasted only about three years, was completely eliminated after a collapse, whereas Bitcoin has experienced 6-7 rounds of sharp declines, set multiple historical highs, and has survived for the past 17 years.Bitcoin has continued to rise by about 250% in the past three years and surged 122% last year. The current decline is more like a "retracement of last year's excessive rise." Even if it remains flat or slightly falls for the whole year in 2025, its long-term average annualized return is still around 50%.Eric emphasized that the only common point between Bitcoin and tulips is "non-productive assets." However, gold, Picasso paintings, rare stamps, and other non-productive assets have long been seen as valuable assets. The tulip mania was a typical "one-time frenzy + collapse" structure, while Bitcoin is clearly in a completely different asset category.

December 7th, according to HTX market data, the concept coins in the bankruptcy sector continued to rise, including:· USTC surged over 78% in the past 24 hours, with a market cap of $69.35 million;· LUNA surged over 39% in the past 24 hours, with a market cap of $160 million;· LUNC surged over 19% in the past 24 hours, with a market cap of $363 million;· FTT surged over 18% in the past 24 hours, with a market cap of $234 million.BlockBeats reported yesterday that SBF has been vocal recently after his fellow inmate was pardoned, raising the potential for his own pardon. However, the prediction market on Polymarket still hovers at around a 2% probability for "Will Trump pardon SBF by 2025?"