News & Research

The open interest for both BTC and ETH futures increased in December amid a sideways trend in the broader cryptocurrency market, according to an analysis by CryptoQuant contributor Crazzyblockk. The contributor noted that BTC open interest grew by $1 billion to $23 billion, while ETH open interest rose from $13 billion to $15 billion. The analysis added that across major exchanges like Binance, Bybit, and OKX, investors have maintained or expanded their positions rather than liquidating them, suggesting that they are still betting on a market recovery.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - ETH: $28.6 million liquidated (80.75% shorts) - BTC: $26 million liquidated (88.83% shorts) - SOL: $10.34 million liquidated (87.88% shorts)

South Korean crypto exchanges Upbit, Bithumb, and Coinone have announced the temporary suspension of deposits and withdrawals for Flow (FLOW), citing a security issue.

Bitmain has staked 74,880 ETH, worth $210 million, after several months of accumulation, Onchainlens reported. Meanwhile, Shapelink unstaked 35,627 ETH, valued at $100 million.

Chinese mining rig manufacturer Bitmain is offering significant discounts on its flagship products as the Bitcoin mining industry grapples with declining profitability, Cointelegraph reported. The discounts apply to most of the company's products, including its S19 and S21 series. Additionally, Bitmain has shifted some products from fixed pricing to an auction-based sales model, a move rarely seen during previous industry booms. The report notes that the current hash rate price has fallen below the minimum profit margin for mining operators.

Stani Kulechov, founder of the crypto lending protocol Aave, has clarified that his recent purchase of $15 million worth of AAVE was not intended to expand his governance influence. He explained that while the purchase is factual, he did not use the tokens in governance voting. The clarification follows a controversy that arose after a proposal for the Aave DAO to absorb Aave Labs, the protocol's developer, was rejected. Kulechov's large token acquisition at the time had sparked concerns about his potential to unduly influence the protocol.

Crypto analyst Gamza Khanzadaev has warned that Bitcoin (BTC) could fall as low as $67,000 if it breaks below the $86,000 support level, U.Today reported. Khanzadaev explained that if BTC fails to reclaim $90,000 before the weekly candle closes, a dead cross pattern on its weekly chart will persist. This technical formation occurs when the 50-week moving average is at risk of crossing below the 200-week moving average. He noted that a breach of the key $86,000 support would open the door to the next major support level at $74,111, rather than $80,000. While the dead cross is not yet confirmed, the analyst believes a lack of strong buying pressure this week could initiate a medium- to long-term downtrend.

Crypto analyst Kaleo, who has approximately 728,000 followers on X, suggested that Bitcoin's recent price movements are similar to those of autumn 2020 and forecasted that the asset will reach a new all-time high next year. In a post on X, Kaleo explained that in 2020, BTC was recovering from a major crash and had broken below a key long-term uptrend line. At the time, U.S. stocks, particularly in the tech sector, significantly outpaced Bitcoin's recovery following the COVID-19 crisis, while the altcoin market remained subdued. He noted that sentiment was so low that many believed Bitcoin was dead, yet a major bull run followed. The analyst believes Bitcoin is likely still in a long-term bull market and will not adhere to the traditional four-year cycle typically observed around halving events. Instead, he predicts that a new all-time high next year will usher in a new "supercycle." This cycle would be characterized by a more prolonged uptrend, a true altcoin season, and a new wave of retail investor enthusiasm. Kaleo added that while a longer bear market would likely follow, those who navigate the cycle will be able to endure it.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $75.68 million liquidated (75.95% shorts) - ETH: $29.66 million liquidated (52.48% longs) - SOL: $10.75 million liquidated (82.5% longs)

An address associated with Winslow Strong, a board member of the Qualia Research Institute, withdrew 307 CBBTC ($27.03 million) and 1,900 ETH ($5.6 million) from the Aave lending protocol and deposited the assets into Coinbase eight hours ago, Lookonchain reported.