OSL trading time: Upbit's BTC short-term negative premium reached 30% last night, TRX and BNB hit record highs

1. Market Observation

Keywords: BTC, SHIB, ETH

Mara Holdings has acquired a 240 megawatt wind farm in Texas to support its mining business. Although the 2024 Bitcoin halving may pose challenges, the company is sticking to its expansion plans. However, the industry is also facing adjustment pressure, with Bitcoin miner Foundry having laid off 16% of its US staff, reflecting the current pressure 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 points out that Bitcoin is currently stabilizing at around $95,000, and market analysts are generally optimistic about its development prospects, expecting it to break through $100,000 within 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) expected to see significant growth when Bitcoin reaches $120,000.

There have also been some notable developments in the market: a Bitcoin wallet that has been dormant for over a decade has recently shown activity, bringing its holder a staggering 10,817% return. Meanwhile, another wallet holding $257 million in Bitcoin has also moved 2,700 BTC after nearly 11 years.

In terms of business applications, Virgin Voyages has become the first cruise line to accept Bitcoin bookings, demonstrating the potential for cryptocurrency applications in the real economy. Several US states are also considering legislation to establish 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 by 2025 due to price volatility. Meanwhile, cryptocurrency expert Ki Young Ju has warned investors to be aware of and address the liquidity challenges posed by Bitcoin capital outflows.

2. Key Data (as of 09:45 HKT on December 4)

• S&P 500: 6,049.88 points (up 26.84% YTD)

• Nasdaq: 19,480.91 points (up 29.77% YTD)

• 10-year US Treasury yield: 4.222% (up 35.03 bps YTD)

• US Dollar Index: 106.230 (up 4.87% YTD)

• Bitcoin: $95,826.57 (up 126.73% YTD), with a daily spot trading volume of $66.92 billion

• Ethereum: $3,679.32 (up 61.27% YTD), 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 (11:00 pm on December 2)

• Actual: 48.4 / Previous: 46.5 / Expected: 47.5

JOLTS Job Openings (11:00 pm on December 3)

• Actual: 7.74 million / Previous: 7.37 million / Expected: 7.49 million

ISM Services PMI (11:00 pm on December 4)

• Actual: To be announced / Previous: 56 / Expected: 55.5

Nonfarm Payrolls (9:30 am on December 6)

• Actual: To be announced / Previous: 12,000 / Expected: 183,000

Unemployment Rate (9:30 am on December 6)

• Actual: To be announced / Previous: 4.1% / Expected: 4.1%

5. Hot News

• Trump team plans to appoint former SEC commissioner Paul Atkins to replace Gary Gensler, but Paul Atkins is negative about this position

• Everclear will migrate NEXT tokens to CLEAR on December 6 and launch a new token economic model

• Mining company Foundry has laid off about 60% of its employees, reducing the total number from 250 to about 80-90

• BNB surged over 19% intraday to $765 per coin, setting a new all-time high

• TRON (TRX) retreated after reaching $0.45, setting a new all-time high

• The Chief of Staff and Chief Secretary of the South Korean President's Office have collectively resigned

• Crypto AI company GAIB completes a $5 million Pre-Seed round, led by Hack VC

• Grayscale applies to convert Solana Trust Fund to ETF

• Coinbase International will list Morpho perpetual futures contracts

• Over $163 million in USDT flowed into Upbit within 1 hour after the "state of emergency" was declared in South Korea

• Coinbase will add MOG Coin (MOG) to its listing roadmap

• Upbit's BTC saw a short-term plunge of 30%, and XRP saw a short-term plunge of 60%

• Vitalik outlines his vision for the development of the ideal cryptocurrency wallet: focusing on cross-L2 transactions and privacy protection

• The XRP Ledger has reduced the minimum reserve requirement from 10 XRP to 1 XRP

• Shenyu: Leverage trading is the most difficult in cryptocurrency trading, and I no longer expect to escape the top

• Arthur Hayes: Be cautious about VC-backed projects with high FDV and low liquidity

• Hashflow proposes to burn 50% of protocol fees

• Magic Eden will open the ME token airdrop eligibility query on December 4, and the TGE is scheduled for December 10

Supported by OSL - Hong Kong's largest over-the-counter trading platform, providing regulated digital asset services since 2018.