#加密货币监管 The Central Bank of Argentina is considering lifting the ban on bank crypto transactions, and this signal is worth paying attention to.
From an on-chain perspective, this reflects a reality: Argentina is already one of the most active crypto adopters globally, with a large amount of funds flowing into Bitcoin and stablecoins. Although there is a ban, the demand for capital flow still exists—it's just being pushed into the shadow financial system. Once banks obtain regulatory approval to participate, we can expect changes in two directions:
**First, on-chain activity may decrease.** Cu

#区块链金融创新 Seeing the N3XT case, several on-chain financial innovation signals are worth noting. The $72 million funding round and the participation of leading institutions like Paradigm and Winklevoss Capital indicate that the RWA track is indeed gaining capital recognition.
More importantly, this model design—full reserve system + private blockchain + smart contract automatic settlement—is essentially moving the traditional banking payment and settlement layer onto the chain. From a data perspective, the daily disclosure of reserve status is very interesting, as it means on-chain verifiabilit

#美联储降息政策 Polymarket data is very clear—93% chance of rate cuts in December, which is almost a certainty. But what’s truly worth paying attention to is the subsequent liquidity absorption capacity.
The operation of repurchasing $45 billion worth of US Treasuries per month indeed increases the chips, which explains why Coinbase is confident about the December market. However, rate cuts themselves are just catalysts; the key factor is still the flow of funds. Whale movement data shows that large transfers have increased in the past two days, especially the accelerated inflow of stablecoins into

#美国经济数据 Core PCE unexpectedly fell to 2.8%, this data point is worth paying attention to. The expectation was for a third consecutive month at 2.9%, but it broke downward, indicating that inflationary pressures are indeed easing.
From an on-chain perspective, such macroeconomic data often influence subsequent capital flows. Adjustments in Federal Reserve policy expectations will be directly reflected in the capital movements of mainstream cryptocurrencies—whale addresses usually position themselves in advance. It is recommended to monitor large transfers and exchange outflows within the next

#代币发行与融资 Strategy 8.5 days to raise $1.44 billion to establish a dividend reserve. This data point is worth noting. From on-chain fund flows, this financing scale is equivalent to 21 months of dividend payments, enough to dispel market doubts about its solvency.
Key observation: During the downtrend, the strategy still maintains an accumulation approach, raising funds through equity and debt issuance at a premium to buy Bitcoin. This reflects the confidence of institutional players in the long-term bullish outlook. Although the pace of accumulation may slow down, the strategic direction remai

#美联储降息政策 The probability of the Federal Reserve cutting interest rates by 25bp in December on Polymarket has risen to 94%, and this data is worth paying attention to. The $260 million trading volume reflects a high consensus in the market for rate cuts, with some funds even betting on an extreme scenario of a 50bp cut.
From an on-chain perspective, such changes in expectations typically trigger capital flows. Coinbase institutional insights also confirm this — they had anticipated position adjustments based on the M2 index as early as October, with a reversal in December after a weak November

#预测市场活动 The Stable mainnet launches tonight at 21:00, and the prediction market data on Polymarket is quite interesting. There is an 85% probability that the FDV on the first day of betting will exceed $2 billion, while the pre-market price already corresponds to $3.5 billion. The discrepancy between these two figures is worth noting.
From on-chain signals, there is an inconsistency between market pricing and predicted probabilities. If calculated based on the pre-market price, the FDV has already exceeded the predicted upper limit, but the prediction market only assigns a 20% chance for valu

#比特币价格技术面 After reviewing JPMorgan's latest report, several data points are worth noting:
**Technical Bottom Signals**: BTC has fallen from 120,000 to 82,000, a decline of over 30%, but JPM has lowered the production cost to $90,000, indicating that the current price is approaching the mining cost line. If prices hover below the production cost for a long time, it will trigger miners to exit → difficulty decreases → costs continue to decline in a self-reinforcing cycle, similar to the pattern seen in 2018.
**Key Monitoring Indicators**: Strategy's mNAV remains at 1.13, above the warning line

#稳定币安全与风险 After reviewing this Chainalysis data, there are several details worth analyzing.
Russia received the equivalent of $376.3 billion in crypto assets in 2024-2025, maintaining its position as the top in Europe. This number itself is not news, but the structural changes behind it are key—shifting from USDT to A7A5, from Garantex to Grinex, the tighter the sanctions, the faster the shadow economy evolves.
The most noteworthy aspect is the evolution of the role of stablecoins. USDT used to be a tool for circumvention; now it has become a source of risk—freezing a USDT wallet with a balan

#加密货币监管趋势 From on-chain data, the recent cryptocurrency market regulatory environment has become increasingly strict. French President Macron warned that loosening regulations in the US could trigger financial instability, and the EU is pushing for more stringent MiCA regulations. Meanwhile, China has explicitly reaffirmed its ban on virtual currencies and has included stablecoins in its crackdown scope. This global regulatory trend is worth paying attention to, as it may affect capital flows and market patterns. Close monitoring of policy developments in various countries is necessary to ana

#ETF市场需求变化 After analysis, the recent decline in Bitcoin prices is mainly influenced by three major factors: liquidation pressure, weak ETF demand, and macroeconomic uncertainty. Data shows that 140,000 traders were forcibly liquidated within 24 hours, resulting in nearly $500 million in losses. Notably, the iShares Bitcoin Trust has experienced net outflows for six consecutive weeks, totaling over $2.8 billion, reflecting weakening institutional demand. Meanwhile, hints of potential rate hikes by the Bank of Japan have also heightened market concerns.
On-chain data indicates that Matrixport

#加密市场情绪 Recent market sentiment has shown obvious fluctuations. ETF fund outflows continue, and derivatives data indicate a decline in risk appetite, all of which are typical safe-haven signals. However, after Bitcoin prices stabilize, investor panic sentiment has eased, and funds are beginning to shift toward bullish options, which may suggest that market confidence is gradually recovering. From on-chain data, changes in open interest and financing rates also confirm that the market environment is becoming more balanced. Overall, the current market situation does resemble the early stages of

Analyzing recent Bitcoin price trends, several key factors are influencing the market: First, liquidation pressure is evident, with approximately 140,000 traders forced to liquidate within 24 hours, resulting in nearly $500 million in losses. Second, institutional demand remains weak, with ETF funds continuously experiencing net outflows. Additionally, increased macroeconomic uncertainty, such as the Bank of Japan potentially raising interest rates, adds pressure to the market. On-chain data shows that some long-term holders are increasing their positions, but a large amount of chips are still

#美联储政策与经济走势 Seeing US Treasury Secretary Yellen expect this year's GDP growth to reach 3%, this data is indeed encouraging. However, we still need to objectively analyze the logic behind this expectation. Typically, GDP growth is closely related to monetary policy, fiscal stimulus, employment market, and other factors. If this expectation materializes, it could mean that the Federal Reserve has achieved some success in controlling inflation, while not excessively suppressing economic growth.
For the crypto market, the strong performance of the US economy may have a dual impact. On one hand, e

#比特币市场分析 Just saw Ansem predict that Bitcoin might test $80,000 again in December. This prediction is worth paying attention to, but more data is needed to support it. I will closely monitor on-chain indicators such as the fund flows of large wallet addresses and changes in exchange reserves to verify the possibility of this prediction. At the same time, we should also pay attention to the impact of macroeconomic environment and regulatory developments on the market. It is too early to draw conclusions now; more signals are needed for confirmation. The price trend and trading volume changes i

#美国经济指标和通胀趋势 By analyzing leading economic indicators in the United States, I have noticed some noteworthy trends. The ratio of leading to coincident economic indicators has fallen to 0.85, a new low since 2008, and has declined for four consecutive years. This indicator combines forward-looking data such as consumer expectations and manufacturing new orders, and is often seen as a barometer of economic direction.
Historical data shows that whenever this ratio experiences such a significant decline, the U.S. economy is often already in recession. Although current employment data and other coi

#加密货币相关股票表现 Observed that Moer Thread's debut day performance was astonishing, soaring nearly 470%, with a market capitalization surpassing 300 billion, sparking heated discussions in the market. However, the controversy surrounding its co-founder Li Feng in the crypto circle has resurfaced and warrants attention. Li Feng previously participated in the "Malego Coin" project, which had numerous issues, including exaggerated whitepapers and fabricated team backgrounds. More seriously, he was accused of borrowing 1500 BTC and not returning it, currently valued at approximately $135 million. Such

#加密货币交易所动态 Recently, the whale activity on exchanges has caught my attention. Data shows that the CEX whale ratio has surged sharply, especially with the 14-day exponential moving average on Binance reaching a new high in nearly 8 months. This often indicates the potential for a large-scale sell-off.
Notably, the 30-day simple moving average of BTC inflows into Binance is approaching its peak for the year, reaching 8,915 coins. Historically, similar inflow peaks have often been accompanied by significant market corrections.
These data suggest that after Bitcoin's recent rally, large holders m

#比特币价格走势分析 Analyze the recent price trend of Bitcoin and identify two major factors causing sustained pressure: first, the decline in hash rate and difficulty; second, the developments related to MicroStrategy. The decrease in hash rate reflects China's reaffirmation of the mining ban and high-cost miners exiting the market. Although a decline in hash rate typically increases revenue, the current prices are still below production costs, exerting selling pressure on the market. According to estimates from JPMorgan, production costs have fallen to $90,000, and a $0.01 increase in electricity pr

#数字货币与跨境支付 According to the latest statements from the China Securities Regulatory Commission, the regulatory attitude towards crypto assets is becoming more stringent. They require "in-depth analysis and cautious handling," and emphasize that "those that cannot be clearly seen or controlled will not be expanded," indicating that regulatory authorities hold a cautious and conservative stance towards crypto assets. This may further restrict the development space for related businesses. From an on-chain data perspective, it is necessary to closely monitor changes in capital flows, especially cr