Bitcoin remains trapped within an unsustainable range, with a gradual decline toward $85,600 indicating ongoing oversupply. The narrow trading band between $93,000 and $120,000 continues to impede recovery efforts. The inability to breach approximately $95,000, coupled with a short-term holder value of $101,500, is constraining upward movement. Despite consistent selling pressure, sustained buyer demand has maintained the true market average near $81,300, preventing a more pronounced decline.

Bitcoin trades steady amid broader market caution

Caroline Pham, the Acting Chair of the Commodity Futures Trading Commission, is joining MoonPay to lead its legal and regulatory efforts.

Today's summary and tomorrow's events. https://t.me/bingx1/2147483647

Trump predicts next year will be the largest tax refund season on record and claims the U.S. is preparing for a major economic boom.

Coinbase Launches Stock Trading, Prediction Markets, and Decentralized Exchange Activities

Coinbase has launched new offerings including stock trading, prediction markets through Kalshi, Solana decentralized exchange trading via Jupiter, and a range of financial products, according to The Block.

Additionally, the company has received regulatory approval from Indian authorities to acquire a stake in CoinDCX. cointelegraph

The Federal Reserve has rescinded its 2023 guidelines that limited small banks from participating in the cryptocurrency sector.

WLFI considers allocating $120 million from its treasury to support the adoption of the USD1 stablecoin, aiming to compete with larger rivals. cointelegraph

Ethereum developers are considering increasing the network's gas limit to 80 million in January, which could lead to faster transaction speeds. cointelegraph

CryptoRank reports that since September, weekly transactions on Polymarket have risen from approximately 1 million to 6.1 million.

CryptoRank reports that since September, weekly transactions on Polymarket have risen from approximately 1 million to 6.1 million.

Deutsche Bank initiates coverage on Coinbase with a Buy rating, projecting a 40% upside to $340. The Block.

Yesterday, the total net inflow for spot Bitcoin ETFs was approximately $457.3 million, while the total net outflow for spot Ethereum ETFs amounted to approximately $22.4 million.

The Jito Foundation, focused on the development of the Jito platform, has announced its re-entry into the U.S. market. cointelegraph

Ark Invest purchased $10.56 million of BitMine shares, $5.9 million of Coinbase shares, and $8.85 million of Bullish shares yesterday.

Digital Wealth Partners Launches Algorithmic XRP Trading for Qualified Retirement Accounts. coindesk

Whale Transactions:

1. A whale converted 7,654 ETH ($21.62 million) on Binance, realizing approximately $4 million in profit.

2. Keith, who previously acquired 68.25 million ASTER (valued at $113.34 million) at $1.66 across 15 wallets, sold 4.68 million ASTER ($3.34 million) at $0.71 each. He retains 63.22 million ASTER valued at $45.52 million, resulting in a loss exceeding $64 million.

3. Address 0x5Ae4 deposited 20 million USDC on Hyperliquid, placing limit orders to buy HYPE at $15.

4. Address 0xE867 added 10 million USDC to Hyperliquid to purchase more HYPE, now holding 926,488 HYPE worth approximately $22.4 million.

5. Address 0x23Af deposited 7.1 million USDC on Hyperliquid to buy 277,420 HYPE at $25.6 each.

Cryptocurrency firms could be forced to liquidate up to $15 billion in digital assets if Morgan Stanley Capital International Index (MSCI) proceeds with removing them from its benchmarks. cointelegraph

SOL DePIN Project on Solana Fuse Energy Secures $70 Million in Second Financing Round at $5 Billion Valuation

U.S. consumer inflation remained steady in November, with the Consumer Price Index rising 0.3% month-over-month, matching economists’ estimates and the previous month’s gain. On a yearly basis, CPI increased 2.7%, slower than the 3.1% forecast and down from 3.0% in October. Core inflation, excluding food and energy, slowed to 2.6% year-over-year from 3.0%, below expectations. Initial jobless claims held at 230,000, consistent with prior readings.