Bitget Daily Briefing (December 5) | 21shares launches 2x leveraged SUI ETF on Nasdaq; US Treasury debt surpasses $30 trillion; Morgan: Whether Strategy can hold up may be key to Bitcoin's short-term trend

Today's Outlook

1. Yesterday, after receiving approval from the U.S. Securities and Exchange Commission (SEC), 21shares launched the first leveraged SUI ETF "2x leveraged SUI ETF" (ticker: TXXS) on Nasdaq.
2. The U.S. SEC held a meeting on tokenization regulation issues, where Citadel suggested that the SEC strictly define the roles of intermediaries such as decentralized trading protocols, sparking opposition from some in the crypto community who believe traditional rules cannot be applied to DeFi structures. There is a clear divergence between traditional finance and the crypto industry on the topic of "decentralization."
3. U.S. CFTC: Spot cryptocurrencies can now be traded on exchanges registered with the CFTC.

Macro & Hot Topics

1. The U.S. Treasury's debt has surpassed $30 trillion, doubling since 2018.
2. A Reuters survey: The Federal Reserve is expected to cut interest rates by 25 basis points in the December rate decision to support a cooling labor market. Among the 108 economists surveyed, a significant majority (82%) of them (89 economists) hold this view.
3. JPMorgan: Whether the strategy can hold up may be key to Bitcoin's short-term performance.

Market Trends

1. In the past 24 hours, the cryptocurrency market saw a total liquidation of $266 million, with $171 million from short positions. BTC liquidations amounted to $90 million, while ETH liquidations were $85 million.
2. U.S. stocks: The Dow Jones fell by 0.07%, the S&P 500 rose by 0.11%, and the Nasdaq Composite rose by 0.22%.
   
3. Bitget BTC/USDT liquidation map shows: The cumulative short liquidation volume is significantly larger above the current price level of around $92,319. If the price continues to rise, it may trigger a chain reaction of short squeezes. The long leverage liquidation area below has been largely cleared, indicating weak support; if it falls below the $91k region, it may trigger passive selling risks for long positions.
   
4. In the past 24 hours, BTC spot inflow was $74 million, outflow was $91 million, resulting in a net outflow of -$17 million.
   

News Updates

1. The IMF warns that stablecoins may undermine monetary sovereignty and recommends setting limits to prevent alternative risks.
2. Notable investor Jez San's associated address withdrew over $15 million worth of altcoins from Coinbase Prime.
3. SoFi plans to raise $1.5 billion through discounted stock sales to expand into new business areas.

Project Progress

1. Bitmine reportedly bought back 41,946 ETH about 5 hours ago, valued at approximately $130 million.
2. GlobeNewswire: AlphaTON Capital announced it has exited the SEC's "baby shelf" financing restrictions and submitted a $420.69 million shelf registration statement, intended to expand GPU computing infrastructure supporting the Telegram Cocoon AI network and acquire revenue-generating companies within the Telegram ecosystem.
3. PANews: On-chain data shows that the Aster team will repurchase $80 million worth of tokens in their wallet for on-chain destruction operations.
4. Base launched a cross-chain bridge with Solana, enabling bidirectional asset interoperability.
5. Bloomberg: Polymarket is recruiting new employees to form an internal market-making team.
6. UAE's Mashreq Capital has included a Bitcoin ETF in its new multi-asset fund.
7. The official website of the meme coin PEPE has been compromised by attackers, currently redirecting users to malicious links.
8. The Bitcoin native interoperability protocol Portal to Bitcoin has completed a $25 million financing round, led by JTSA Global.
9. Aave Labs has expanded its collaboration with CoW Swap, integrating the DEX aggregator's solver network into all of Aave's Swap functionalities and launching a flash loan product specifically designed for intent-based infrastructure.
10. Matrixport has withdrawn a total of 2,805 BTC, valued at $260 million, from Binance in the past 8 hours.
    Disclaimer: This report is generated by AI, with human involvement only for information verification and does not constitute any investment advice.