Bitget Daily Briefing (December 23) | Michael Selig appointed as the 16th Chairman of the CFTC; Powell has secured three rate cuts; Strategy increases reserves by $748 million

Today's Outlook

1. CFTC Acting Chair Caroline Pham steps down, Michael Selig is sworn in as the 16th Chair.

2. Sources say Trump may appoint a new Federal Reserve Chair in the first week of January next year.

3. Sources say JPMorgan is considering offering cryptocurrency trading services to institutional clients.

Macro & Hot Topics

1. Federal Reserve Governor Milan: Powell has secured three rate cuts.

2. Last week, global listed companies net bought $26.35 million in BTC, while Strategy did not increase its holdings. This week, Strategy increased its reserves by $748 million, now holding $2.19 billion.

3. Glassnode: As Bitcoin's price returns above $90,000, leveraged long positions are accumulating again.

Market Trends

1. In the past 24 hours, the cryptocurrency market saw a total liquidation of $210 million, with long positions accounting for $210 million. BTC liquidations amounted to approximately $85.5 million, while ETH liquidations were around $58 million.

2. U.S. stocks: The Dow Jones initially rose by 0.47%, the S&P 500 increased by 0.64%, and the Nasdaq gained 0.52%. Oracle (ORCL.N) rose by 3%, Nvidia (NVDA.O) and Tesla (TSLA.O) increased by over 1%, while Trump Media Technology Group (DJT.O) fell by over 10%. Blockchain concept stocks had mixed results, with CRCL (Circle) up 1.01%; MSTR (Strategy) down about 0.3%; COIN (Coinbase) up about 1.13%.

3. Bitget BTC/USDT liquidation map shows: The current price around 88.5k is at a pivotal point for longs and shorts, with long liquidations mostly cleared below, while a large number of 50x-100x short positions are piled up in the 90k-92k range above. A breakout above could easily trigger a continuous short squeeze, amplifying gains. Conversely, if the price falls back to around 86k, new long leverage may start to accumulate, posing a risk of a rapid "backward sweep" of longs. The overall structure indicates increased volatility, but the direction heavily relies on breaking key price levels.

4. In the past 24 hours, BTC spot inflows were approximately $7.2 million, outflows were about $9.7 million, resulting in a net outflow of $2.5 million.

News Updates

1. Thiel-backed digital bank Erebor completes $350 million financing, doubling its valuation to $4.35 billion.

2. Trump's Trump Media increases its holdings by 450 BTC, bringing the total to 11,542 BTC.

3. Bitcoin financial services company Fold is included in the Russell 2000 index.

Project Progress

1. Justin Sun's address is still blocked by the WLFI project team, with locked tokens losing $60 million in value over three months.

2. The Espresso airdrop registration portal is now live, with official claims starting in early 2026.

3. Onchain Lens: A whale transferred 3.8 billion PUMP (approximately $7.57 million) to FalconX, initially withdrawing this batch of tokens from Binance for $19.53 million, incurring a loss of $12.22 million during the holding period.

4. Aave founder invests over $5 million to increase AAVE holdings, with an unrealized loss of $2.29 million.

5. Citigroup lowers Strategy's target stock price from $485 to $325, maintaining a buy rating.

6. NYSE-listed company Shift4 launches a stablecoin settlement platform, supporting USDC, USDT, and other stablecoins.

7. ETHZilla sells 24,200 ETH to redeem bonds and shifts its business focus to RWA tokenization.

8. USDC Treasury mints an additional 250 million USDC on the Solana network.

9. BitMine increased its holdings by 98,800 ETH last week, bringing the total to 4.066 million ETH.

10. GMX has integrated with the Ethereum mainnet, allowing users to trade or provide liquidity directly.

Disclaimer: This report is generated by AI, with human verification for information only, and does not constitute any investment advice.