1. Market Watch.
Keywords: BTC, SHIB, ETH.
Mara Holdings has acquired a 240 MW wind farm in Texas to support its mining operations. Despite the challenges that the Bitcoin halving in 2024 may bring, the company remains committed to its expansion plans. However, the industry also faces adjustment pressures, as Bitcoin miner Foundry has laid off 16% of its U.S. staff, reflecting the current pressures in the mining market.
Since the approval of the spot Bitcoin ETF in January this year, BlackRock's iShares Bitcoin Trust ETF has accumulated over $48 billion in Bitcoin, becoming an important institutional force in the cryptocurrency market. BitMEX founder Arthur Hayes pointed out that Bitcoin has stabilized at around $95,000, with market analysts generally optimistic about its prospects, predicting it will break $100,000 within the next five years, with a longer-term target of $1 million. This positive trend has also boosted other cryptocurrencies, such as Shiba Inu (SHIB) and other altcoins, which are expected to see significant growth when Bitcoin reaches $120,000.
The market has also seen some notable movements: a Bitcoin wallet dormant for over a decade recently became active, yielding an astonishing 10,817% return for its holder. Meanwhile, another wallet holding $257 million in Bitcoin transferred 2,700 BTC after nearly 11 years.
In terms of business applications, Virgin Voyages has become the first cruise company to accept Bitcoin bookings, showcasing the potential for cryptocurrency in the real economy. Several U.S. states are also considering legislation related to establishing Bitcoin reserves. However, the market also faces some challenges: Cash App has canceled its zero-fee Bitcoin transfer service, and Singapore's dtcpay plans to replace Bitcoin and Ethereum with stablecoins before 2025 due to price volatility. Meanwhile, crypto expert Ki Young Ju reminds investors to pay attention to and address the liquidity challenges posed by Bitcoin outflows.
2. Key Data (as of December 4 at 09:45 HKT).
S&P 500: 6,049.88 points (up 26.84% year-to-date).
NASDAQ: 19,480.91 points (up 29.77% year-to-date).
10-Year U.S. Treasury Yield: 4.222% (up 35.03 basis points year-to-date).
U.S. Dollar Index: 106.230 (up 4.87% year-to-date).
Bitcoin: $95,826.57 (up 126.73% year-to-date), with a daily spot trading volume of $66.92 billion.
Ethereum: $3,679.32 (up 61.27% year-to-date), with a daily spot trading volume of $39.35 billion.
3. ETF Flows (December 3 EST).
Bitcoin ETF: -$17.3 million.
Ethereum ETF: +$67.3 million.
4. Important Dates (Hong Kong Time).
ISM Manufacturing PMI (December 2 at 11:00 PM).
Actual: 48.4 / Previous: 46.5 / Expected: 47.5.
JOLTS Job Openings (December 3 at 11:00 PM).
Actual: 7.744 million / Previous: 7.372 million / Expected: 7.49 million.
ISM Services PMI (December 4 at 11:00 PM).
Actual: Pending announcement / Previous: 56 / Expected: 55.5.
Non-Farm Payrolls (December 6 at 9:30 PM).
Actual: Pending announcement / Previous: 12,000 / Expected: 183,000.
Unemployment Rate (December 6 at 9:30 PM).
Actual: Pending announcement / Previous: 4.1% / Expected: 4.1%.
5. Hot News.
Trump's team plans to appoint former SEC Commissioner Paul Atkins to replace Gary Gensler, but Paul Atkins is negative about this position.
Everclear will migrate the NEXT token to CLEAR on December 6 and launch a new tokenomics model.
Mining company Foundry cuts about 60% of its employees, reducing the total number from 250 to about 80 to 90.
BNB rises over 19% to $765 per coin during the day, reaching a new all-time high.
TRON (TRX) fell back after reaching $0.45, achieving a new all-time high.
The Chief of Staff and Chief Secretary of the South Korean Presidential Office collectively resign.
Crypto AI company GAIB completes $5 million in Pre-Seed funding, led by Hack VC.
Grayscale applies to convert Solana Trust Fund into an ETF.
Coinbase international station will launch Morpho perpetual futures contracts.
Over 163 million USDT flowed into Upbit within 1 hour after 'martial law' was announced in South Korea.
Coinbase lists MOG Coin (MOG) on the coin listing roadmap.
BTC briefly dipped 30% on Upbit, while XRP briefly dropped 60%.
Vitalik outlines his vision for the development of an ideal crypto wallet: focusing on cross-L2 transactions and privacy protection.
XRP Ledger has reduced the minimum reserve requirement from 10 XRP to 1 XRP.
Shen Yu: Leveraged trading in crypto is the most difficult, no longer expecting to escape at the top.
Arthur Hayes: Be cautious about high FDV, low liquidity projects supported by VCs.
Hashflow through a burn proposal: 50% of protocol fees will be used for buyback and burn.
Magic Eden will open ME token airdrop eligibility inquiries on December 4, with TGE scheduled for December 10.
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