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 potential challenges posed by the Bitcoin halving in 2024, the company remains committed to its expansion plans. However, the industry also faces adjustment pressures, as Bitcoin miner Foundry has cut 16% of its U.S. workforce, reflecting the current stress 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 a significant institutional force in the crypto market. BitMEX founder Arthur Hayes pointed out that Bitcoin is currently stabilizing at around $95,000, and market analysts are generally optimistic about its development prospects, predicting it will break through $100,000 in the next five years, with a long-term target of $1 million. This positive trend has also driven other cryptocurrencies, with altcoins like Shiba Inu (SHIB) likely to see significant growth when Bitcoin reaches $120,000.
Several notable movements have emerged in the market: A Bitcoin wallet that had been dormant for over ten years recently became active, yielding an astonishing 10,817% return for its holder. At the same time, another wallet holding $257 million in Bitcoin also transferred 2,700 BTC after nearly 11 years.
In terms of commercial applications, Virgin Voyages has become the first cruise company to accept Bitcoin bookings, showcasing the potential of cryptocurrency in the real economy. Several U.S. states are also considering legislation related to establishing Bitcoin reserves. However, the market 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 brought by Bitcoin outflows.
2. Key Data (as of December 4, 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, 11:00 PM)
Actual: 48.4 / Previous: 46.5 / Expected: 47.5
JOLTS Job Openings (December 3, 11:00 PM)
Actual: 7.744 million / Previous: 7.372 million / Expected: 7.49 million
ISM Services PMI (December 4, 11:00 PM)
Actual: To be announced / Previous: 56 / Expected: 55.5
Non-Farm Employment Change (December 6, 09:30 PM)
Actual: To be announced / Previous: 12,000 / Expected: 183,000
Unemployment Rate (December 6, 09:30 PM)
Actual: To be announced / Previous: 4.1% / Expected: 4.1%
5. Hot News
The Trump team plans to appoint former SEC Commissioner Paul Atkins to replace Gary Gensler, but Paul Atkins has a negative attitude towards this position.
Everclear will migrate the NEXT token to CLEAR on December 6 and launch a new tokenomics model.
Mining company Foundry has cut about 60% of its employees, reducing the total number from 250 to about 80 to 90.
BNB surged over 19% during the day to $765 per coin, setting a new all-time high for the price.
TRON (TRX) fell back after reaching $0.45, marking a new historical price high.
The Chief of Staff and Chief Secretary to the South Korean President collectively resigned.
Crypto AI company GAIB completed a $5 million Pre-Seed round financing, led by Hack VC.
Grayscale has applied to convert the Solana Trust Fund into an ETF.
Coinbase's international site will launch Morpho perpetual futures contracts.
Within 1 hour after the announcement of 'martial law' in South Korea, over 163 million USDT flowed into Upbit.
Coinbase has included MOG Coin (MOG) in its listing roadmap.
BTC on Upbit briefly spiked down 30%, while XRP briefly spiked down 60%.
Vitalik outlined his vision for the ideal crypto wallet's development, focusing on cross-L2 transactions and privacy protection.
XRP Ledger has reduced its minimum reserve requirement from 10 XRP to 1 XRP.
Shen Yu: Leveraged trading in crypto is the hardest, no longer expecting to escape the top.
Arthur Hayes: Be cautious with VC-backed projects that have high FDV and low circulation.
Hashflow through its burn proposal: 50% of protocol fees will be used for buyback and burn.
Magic Eden will open ME token airdrop eligibility checks on December 4, with TGE scheduled for December 10.
Supported by OSL - Hong Kong's largest over-the-counter trading platform, continuously providing regulated digital asset services to the market since 2018.
