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 operations. Despite the challenges that may arise from the Bitcoin halving in 2024, the company is sticking to its expansion plans. However, the industry is also facing pressure to adjust. Bitcoin miner Foundry has laid off 16% of its US employees, reflecting the pressure in the current mining market.

Since the spot Bitcoin ETF was approved in January this year, BlackRock's iShares Bitcoin Trust ETF has accumulated more than $48 billion in Bitcoin, becoming an important institutional force in the cryptocurrency market. Arthur Hayes, founder of BitMEX, pointed out that Bitcoin is currently stabilizing at $95,000, and market analysts are generally optimistic about its development prospects, predicting that it will exceed $100,000 in the next five years, with a long-term target of $1 million. This positive trend has also driven other cryptocurrencies, such as altcoins such as Shiba Inu (SHIB), which are expected to achieve significant growth when Bitcoin reaches $120,000.

There have also been some notable moves in the market: a Bitcoin wallet that had been dormant for more than a decade has recently seen activity, bringing holders a staggering 10,817% return. Meanwhile, another wallet holding $257 million in Bitcoin also moved 2,700 BTC after nearly 11 years.

In terms of commercial applications, Virgin Voyages became the first cruise company to accept Bitcoin bookings, demonstrating the potential for the application of cryptocurrencies in the real economy. Several U.S. states are also considering legislation to establish Bitcoin reserves. However, the market also faces some challenges: Cash App 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. At the same time, cryptocurrency expert Ki Young Ju reminded investors that they need to pay attention to and respond to the liquidity challenges brought about by Bitcoin capital outflows.

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

• S&P 500: 6,049.88 (+26.84% year-to-date)

• Nasdaq: 19,480.91 (+29.77% year-to-date)

• 10-year Treasury yield: 4.222% (+35.03 basis points this year)

• US dollar index: 106.230 (+4.87% year-to-date)

• Bitcoin: $95,826.57 (+126.73% year-to-date), with a daily spot volume of $66.92 billion

• Ethereum: $3,679.32 (+61.27% year-to-date), with a daily spot 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 p.m., December 2)

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

JOLTS job openings (December 3 at 11:00 pm)

• Actual: 7.744 million / Previous value: 7.372 million / Expected: 7.49 million

ISM Services PMI (11:00 p.m., December 4)

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

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

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

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

• Actual: To be announced / Previous value: 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 the position

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

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

• BNB rose by more than 19% to $765 per coin during the day, setting a new all-time high

• TRON (TRX) hits $0.45 before falling back, hitting a new all-time high

• South Korea's Presidential Office Director and Chief Secretary resign collectively

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

• Grayscale applies to convert Solana Trust into ETF

• Coinbase International will launch Morpho perpetual futures contracts

• More than 163 million USDT flowed into Upbit within one hour after South Korea declared "martial law"

• Coinbase Adds MOG Coin (MOG) to its Listing Roadmap

• On Upbit, BTC fell 30% in a short period of time, and XRP fell 60% in a short period of time.

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

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

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

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

• Hashflow passed the destruction proposal: 50% of the protocol fees will be used for repurchase and destruction

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

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