Morning Thoughts

Yesterday morning, there was an initial surge reaching around 97600, followed by a period of fluctuations. In the evening, another successful surge brought it to around 101800, after which it faced downward pressure and is currently operating near 101000. Yesterday's strategy successfully gained 3000 + 140 points.

Operational Suggestions
Bitcoin: Sell around 101500 to 102000, target around 100500 to 100000.
Ethereum: Sell around 3860 to 3880, target around 3800 to 3750.

The gold content of this Silu doesn't need much explanation, the large pancake is perfectly fine and just started to decline after stopping at Ying, the Aunty is just a bit off, and then it started to decline, the large pancake Aunty gained 1800➕100 points.

Morning group message Dandan, Big Cake Aunt successfully stops Ying, Big Cake earns 1300 points, Aunt earns 60 points ​​​

Morning Thoughts on December 11

Yesterday, Bitcoin fell from around 98300 to a low of about 94200, and then began to rise, currently trading around 96500.

Trading Suggestions
Bitcoin buy around 96000 to 96300, target 97200 to 97800.
Ethereum buy around 3580 to 3600, target 3650 to 3680.

Floki and Mastercard launch debit card supporting 13 cryptocurrencies in Europe

Floki and Mastercard have launched a debit card that can be issued in 31 countries corresponding to the EU and EFTA member states, available in both physical and virtual forms, usable at all locations accepting Visa and Mastercard. The card supports eight blockchains and can be topped up using FLOKI and other cryptocurrencies. There are no transaction fees for the card, but there is a 2% top-up fee and a one-time setup fee. Its daily limit is 5,000 USDT. The card can be topped up with cryptocurrencies such as FLOKI, BTC, ETH, three stablecoins from Tether (USDT, EURT, XAUT), Circle's stablecoin USDC, BNB, SOL, DOGS, HMSTR, TON, and NOT. Floki announced its plans to issue the debit card in March, which is one of the first elements on its roadmap. Floki's flagship product, the Valhalla game metaverse mainnet, is expected to launch in the first quarter of 2025, having been previously delayed. Its ecosystem is based on the Ethereum and BNB Smart Chain networks.

The cryptocurrency market sectors all experienced a general decline of 10%, with BTC, ETH, and the CeFi sector performing relatively well.

All sectors of the cryptocurrency market saw a general decline of 10%, with BTC, ETH, and the CeFi sector showing relatively strong performance. Among them, BTC had a 24H drop of 1.73%, ETH had a 24H drop of 5.16%, and the CeFi sector had a 24H drop of 5.29%, which is the smallest decline among all other sectors. In other sectors, the Layer1 sector had a 24H drop of -9.92%, the Layer2 sector had a drop of -10%, the Meme sector had a drop of -11.2%, the RWA sector had a drop of -11.27%, and the DeFi sector had a drop of -11.83%.

The Czech Republic implements financial reforms to become a cryptocurrency hub, allowing crypto companies and investors to open bank accounts

The Czech Republic has approved extensive financial market reforms aimed at promoting the development of the cryptocurrency and blockchain sectors, positioning itself as a cryptocurrency center. Reportedly, the newly passed legislation addresses key barriers faced by cryptocurrency companies and investors, demonstrating the country's commitment to embracing digital finance. At the core of the reforms is the assurance that cryptocurrency companies and their investors can open bank accounts without undue restrictions, effectively eliminating significant operational barriers that previously hindered their activities. This change is expected to streamline the financial operations of cryptocurrency businesses and enhance their stability and growth prospects in the country.

The Grayscale report categorizes the cryptocurrency industry into five major sectors, including Currency, Smart Contract Platforms, Financials, Consumer & Culture, and Utilities & Services.

Grayscale has released a cryptocurrency industry classification framework that divides the digital asset market into five major sectors: Currency (Currencies), Smart Contract Platforms, Financials, Consumer & Culture, and Utilities & Services. The report shows that, despite a significant increase in Bitcoin this year, the overall performance of cryptocurrency asset categories has shown differentiation. Currency assets include Bitcoin, XRP, and Zcash; Smart Contract Platforms include Ethereum, Solana, and Polygon; Financials include Maker, Uniswap, and Aave; the Consumer & Culture sector includes ApeCoin, Decentraland, and Sandbox; and Infrastructure Services include Chainlink, Filecoin, and Lido DAO.

Magic Eden CEO states that he and the company's co-founders plan to lock their ME token holdings for 18 months

Magic Eden co-founder and CEO Jack Lu posted on X, stating that Magic Eden is committed to long-term development and does not intend to prioritize short-term price fluctuations. To double down on this effort, my co-founders and I will lock our ME tokens for 18 months.

. Research: Hyperliquid's revenue has reached $96 million year-to-date, making it the 9th most profitable crypto project of the year.

The revenue of the Hyperliquid platform includes instant listing auction fees, profits and losses from HLP market makers (Market Maker, abbreviated as MM), and platform fees. The first two are public information, but the team recently clarified the last source of revenue. Based on this, it can be estimated that Hyperliquid's year-to-date revenue is $44 million, with HLP contributing $40 million; HLP Strategy A at -$2 million, HLP Strategy B at $2 million; and revenue from liquidation at $4 million. When HYPE launched, the team used the Assistance Fund wallet to purchase HYPE on the market; assuming the team does not have multiple USDC AF wallets, the year-to-date profit and loss for USDC AF is $52 million. Therefore, adding HLP's $44 million and USDC AF's $52 million results in Hyperliquid's year-to-date revenue being approximately $96 million, surpassing Lido and becoming the 9th most profitable crypto project of 2024.

The Czech Republic implements financial reforms to become a cryptocurrency hub, allowing crypto companies and investors to open bank accounts

The Czech Republic has approved extensive financial market reforms aimed at promoting the development of the cryptocurrency and blockchain sectors, positioning itself as a cryptocurrency center. Reportedly, the newly passed legislation addresses key obstacles faced by cryptocurrency companies and investors, demonstrating the country's commitment to embracing digital finance. At the heart of the reforms is the guarantee that cryptocurrency companies and their investors can open bank accounts without undue restrictions, effectively eliminating significant operational barriers that previously hindered their activities. This change is expected to simplify the financial operations of cryptocurrency businesses and enhance their stability and growth prospects in the country.

Bitcoin long-term holders have sold 827,783 BTC in the last 30 days, possibly reaching a potential peak

Since November 8, long-term Bitcoin holders (wallets holding Bitcoin for at least 155 days) have sold 827,783 BTC, worth approximately $8.259 billion. Maartuun emphasized that during the same period, MicroStrategy purchased about 149,800 BTC, while the inflow of spot Bitcoin ETFs was 84,193 BTC. However, these only account for 30% of the amount sold by long-term holders. According to CryptoQuant's retail demand 30-day change chart, Maartuun stated that despite the strong selling pressure faced by long-term holders, Bitcoin remains strong due to retail demand also reaching an 'annual high.' Maartuun also mentioned that the seller risk ratio and the number of net takers may indicate that Bitcoin 'has reached a potential peak.'

Cryptocurrency Theft Scam Uses Fake Meeting Applications to Target Web3 Workers

Cado Security Labs has issued a warning that a cyber scam targeting Web3 workers is spreading. Scammers are injecting malware through fake meeting applications to steal login credentials for websites, apps, and password wallets. They impersonate legitimate companies by generating and populating websites and social media accounts using artificial intelligence, then contact potential targets to lure them into downloading a fake meeting app called "Meeten" (which is currently known as "Meetio" and frequently changes names, having previously used names like Clusee.com, Cuesee, Meeten.gg, Meeten.us, and Meetone.gg). Once users download and install the app, the built-in Realst information stealer begins to search for sensitive information such as Telegram login details, bank card information, and password wallet information, sending this information back to the scammers. Additionally, this stealer can search for browser cookies and autofill credentials from browsers like Google Chrome and Microsoft Edge, as well as information from wallets such as Ledger, Trezor, and Binance. To enhance credibility, the scammers also set up company websites that include AI-generated blogs, product content, and social media accounts. These fake websites not only lure users into downloading malware but also use JavaScript to steal cryptocurrency stored in web browsers, even stealing it before the malware is installed. Some users have reported downloading the software while participating in calls related to Web3 work, resulting in stolen cryptocurrency. The scam has been active for about four months, and the scammers have also created malware variants for macOS and Windows systems.

El Salvador may scale back its Bitcoin plan to reach a $1.3 billion agreement with the IMF

El Salvador is planning to adjust its Bitcoin policy in exchange for a $1.3 billion loan from the International Monetary Fund (IMF). According to the draft agreement, El Salvador will eliminate the mandatory requirement for businesses to accept Bitcoin payments, switching to voluntary acceptance, while committing to reduce the fiscal deficit by 3.5 percentage points over three years through spending cuts and tax increases. Additionally, El Salvador will enhance its foreign exchange reserves to $15 billion through anti-corruption legislation. If negotiations between the IMF and El Salvador are successful, the country will secure an additional $2 billion loan from the World Bank and the Inter-American Development Bank, helping El Salvador reintegrate into the international financial market. Despite President Bukele facing controversy for advancing Bitcoin policy, El Salvador's bond prices have significantly risen recently, with its risk premium dropping from 3,500 basis points in July 2022 to 398 basis points recently. The Bukele administration is seeking to promote national development through economic recovery and foreign investment while continuing to push its signature Bitcoin policy. Although many Salvadorans still prefer to use the US dollar, Bukele has stated that the country's Bitcoin reserves have appreciated to over $600 million, a 127% increase, describing it as "El Salvador's first Bitcoin piggy bank."

10x Research: Bitcoin market momentum weakens, South Korean trading volume drops from $25 billion to $6.7 billion

The current market situation of Bitcoin can be likened to the 'death zone' of climbing Mount Everest, a critical phase where risks increase. Although Bitcoin may not have reached its peak, some indicators show that market momentum is weakening, necessitating heightened vigilance. Over the past two weeks, Bitcoin's price has fluctuated within a narrow range, touching the upper and lower limits of the range last week before returning to the middle, forming a Doji pattern that indicates market hesitation. Historically, this pattern may signal a continuation of the trend after a short-term adjustment, but combined with on-chain data and market structure analysis, there remains uncertainty for the future. Furthermore, South Korea's cryptocurrency trading volume has significantly decreased from $25 billion to $6.7 billion, indicating a noticeable decline in market activity.

The "2024 Bitcoin Act" proposes the establishment of a U.S. strategic Bitcoin reserve, with funding sources posing a key challenge.

The "2024 Bitcoin Act" proposes that the U.S. government establish a strategic Bitcoin reserve, with some funding sourced from the Federal Reserve's profit remittances. However, the Federal Reserve is currently losing over $1 billion each week, with cumulative losses reaching $212 billion, and cannot restore remittances until these losses are offset. Therefore, the initial funding for the bill may depend on the revaluation and remonetization of the U.S. Treasury's gold reserves.

Reuters: Donald Trump's second son has a 'whale-only' pass priced at $9,999 for the BTC conference in Abu Dhabi

Eric Trump, the second son of former U.S. President Donald Trump and current Executive Vice President of the Trump Organization, along with Steve Witkoff, the new U.S. Special Envoy for the Middle East and co-founder of World Liberty Financial, will attend the Bitcoin conference in Abu Dhabi. It is reported that Eric Trump will deliver a keynote speech at the conference, followed by a 'whale-only' chat in the VIP lounge. Steve Witkoff will give a speech specifically for a more exclusive group of individuals, and attending this group requires purchasing a 'whale' pass for $9,999.

The Argentine securities regulator announces the allowance of foreign investment products related to various cryptocurrency ETF opportunities entering the market.

The Argentine securities regulator CNV announced a measure for the entire market, allowing foreign investment products related to various cryptocurrency ETF opportunities (including Ethereum, Bitcoin, gold, etc.) to enter the market. The chairman of the Argentine securities regulator, Roberto Silva, emphasized: "Through these measures, we are elevating Argentina to the standards of the most developed markets internationally."

The American think tank 'National Center for Public Policy Research' proposes that Amazon establish a Bitcoin treasury

The National Center for Public Policy Research, a free-market think tank located in Washington, D.C., has submitted a shareholder proposal to Amazon, advocating for the consideration of adopting Bitcoin as a corporate treasury strategy at the shareholder meeting in April 2025. The proposal states: 'At a minimum, Amazon should evaluate the benefits of holding a portion of its assets (even if only 5%) in Bitcoin.' The think tank pointed out in its letter that the current Consumer Price Index (CPI) measuring inflation in the United States is 4.95%, but this metric is 'extremely poor' at measuring the true devaluation of currency. The authors believe that the real inflation rate could be twice the CPI reported figure; this greatly erodes Amazon's $88 billion in cash and short-term cash equivalents. To protect shareholder value, Bitcoin should be used to hedge this risk. The think tank wrote: 'As of December 6, 2024, the price of Bitcoin has increased by 131% year-on-year, averaging better performance than corporate bonds by 126%. Over the past five years, the price of Bitcoin has risen by 1,246%, outperforming corporate bonds by 1,242% on average.'

The entire cryptocurrency market segment has corrected with an average decline of 10%. BTC, ETH, and the CeFi segment performed relatively well.

The entire cryptocurrency market segment has corrected with an average decline of 10%. BTC's 24H drop is 1.73%, ETH's 24H drop is 5.16%, and the CeFi segment's 24H drop is 5.29%, which is the smallest decline among all other segments. In other segments, the Layer 1 segment has a 24H drop of -9.92%, the Layer 2 segment has a drop of -10%, the Meme segment has a drop of -11.2%, the RWA segment has a drop of -11.27%, and the DeFi segment has a drop of -11.83%.