Bitget Daily Briefing (December 11) | The Federal Reserve announces a 25 basis point cut in the benchmark interest rate; Bitmine purchases 33,504 ETH; CBOE has approved the listing and registration of the 21Shares XRP ETF

Bitget

2025-12-11 11:01:33

Collection

Bitget December 11 Morning Report

Today's Outlook

Cointelegraph reports that the Chicago Board Options Exchange (CBOE) has approved the listing and registration of the 21Shares XRP ETF.
Sygnum survey: 60% of high-net-worth individuals in Asia plan to increase their cryptocurrency purchases.
Cointelegraph reports that the Financial Services Agency (FSA) of Japan has released a report planning to shift the regulation of crypto assets from the Payment Services Act (PSA) to the Financial Instruments and Exchange Act (FIEA), treating them as investment products for regulation.

Macro & Hot Topics

On December 10 local time, the Federal Reserve announced a 25 basis point cut to the benchmark interest rate, lowering it from the current range of 3.75% - 4% to 3.5% - 3.75%. This marks the third consecutive rate cut by the Fed, totaling a reduction of 75 basis points. Additionally, Trump criticized the Fed for its lack of aggressive rate cuts, and "another Kevin" had his final interview today.
"Fed Mouthpiece": Three rate cuts fail to quell internal disputes, caution against "stagflation risks."
Powell: The Fed is shifting to a wait-and-see strategy, and further rate hikes are not a baseline expectation at this time.
Analyst Ali: Six out of the seven FOMC meetings this year have led to BTC price corrections.

Market Trends

In the past 24 hours, the cryptocurrency market saw a total liquidation of $423 million, with long positions accounting for $286 million. The liquidation amount for BTC was $153 million, while for ETH it was $125 million.
U.S. stocks: The Dow Jones increased by 1.05%, the S&P 500 fluctuated by 0.67%, and the Nasdaq Composite rose by 0.33%. Additionally, Nvidia (NVDA) fell by 0.64%, Circle (CRCL) dropped by 0.53%, and Strategy (MSTR) decreased by 2.3%.

Bitget Daily Report (December 11) | Fed announces a 25 basis point cut to the benchmark interest rate; Bitmine purchases 33,504 ETH; CBOE has approved the listing and registration of the 21Shares XRP ETF image 0

Bitget BTC/USDT liquidation map shows that the current price range for BTC (around $90,182) is the most concentrated liquidation point for high-leverage long positions (50-100x). A drop in price would trigger significant cascading liquidations of long positions. Meanwhile, the accumulated liquidation amount for shorts below is far greater than that for longs above, indicating that if the price continues to rise, the liquidation pressure from shorts will be stronger, providing more upward momentum.

In the past 24 hours, BTC saw an inflow of approximately $225 million and an outflow of about $315 million, resulting in a net outflow of $90 million.

News Updates

Michael Saylor criticizes MSCI's plan to exclude companies with high cryptocurrency holdings from its index.
GameStop (stock code GME) holds Bitcoin valued at $519.4 million, with a loss of $9.2 million in holdings from Q2 to Q3.
SpaceX plans to raise over $30 billion in its IPO, potentially becoming the largest in history. Bloomberg reports that if SpaceX goes public in 2026 with a valuation of $1.5 trillion, Elon Musk's net worth will jump from the current $460.6 billion to about $952 billion, with the value of his SpaceX shares alone reaching $625 billion.

Project Progress

Figure plans to introduce the securitized stablecoin YLDS to Solana. YLDS is a securitized stablecoin designed to maintain a fixed dollar price and provide continuous returns through U.S. Treasury bonds and repurchase agreements.
The U.S. government has transferred 1,934 WETH and 13.58 million BUSD from the seized FTX Alameda funds to a new wallet.
State Street and Galaxy plan to launch a tokenized liquidity fund in early 2026, which will use stablecoins to facilitate round-the-clock investor fund flows, thereby expanding the application of public chains in institutional cash management.
VanEck has renamed its Gaming ETF to "Degen Economy ETF," focusing on new business models in the digital economy.
The crypto AI platform Surf has completed a $15 million financing round, led by Pantera Capital.
Sei will collaborate with Xiaomi to pre-install Web3 payment applications on new smartphones globally.
ETHZilla has acquired a 15% stake in the digital mortgage platform Zippy for approximately $21 million.
SpaceX has transferred 1,021 BTC to a new wallet, valued at $94.48 million.
Bitmine has once again purchased 33,504 ETH from FalconX, valued at $112 million.
Yesterday, global asset management giant Invesco submitted Form 8-A to the U.S. Securities and Exchange Commission (SEC) for its Invesco Galaxy Solana ETF, a step typically taken before the product's official launch. Following such submissions, trading usually begins the next day.