【币界】行情跳水，狗狗币也没逃过。24小时里未平仓合约缩水4.03%，从15.1亿美元直接跳水，币价本身也跟着松动，跌幅1.22%至0.127美元。
不过有意思的是，狗狗币前阵子是涨起来的，现在在0.126到0.135美元这个区间来回摆，看起来是在为下一步动作蓄势。这个位置既不算低，也没冲太高，属于修整阶段。市场这波调整虽然猛烈，但也给了不少人重新审视狗狗币走势的机会。

The Hong Kong Securities and Futures Commission has listed "Sheng" Sauce Aroma Original Liquor and related RWA tokens as suspicious investment products, warning investors to be cautious of investments claiming to be backed by physical assets. It emphasizes the importance of paying attention to operational and asset security details to prevent risks caused by blindly following trends.

A major mainstream exchange announced the 2025 Reserve Transparency Report, highlighting 38 consecutive months of reserve proof releases, with a core asset reserve rate of 100%. USDT holdings increased by 150%, and market share rose by 2.06%, ranking first. The platform has expanded asset transparency, including more verifiable assets, demonstrating a commitment to user trust.

【比推】数据监测显示，12月24日15:22，一笔4,611.46万USDT的大额资金从未知钱包流入某头部交易所。这样的资金异动往往预示着市场参与者在调整头寸。年末行情波动加剧的背景下，大鱼们的动向值得关注——究竟是抄底布局还是减仓回避，链上数据会说话。

[Coin World] NIGHT's recent performance is indeed contradictory. The pressure on derivation is evident—open contracts have shrunk by 12%, with a net outflow of $12.7 million. However, looking at the spot market, buyer enthusiasm has not diminished at all: the trading volume surged to $301 million in 5 days, and this momentum is real.
The market data looks a bit frightening. The 24-hour trading volume has halved by 50% to $3.97 billion, and the market cap has shrunk from $1.94 billion to $1.52 billion. If we say that no one is optimistic, the result is that the number of investors has instead risen to 6,500 people - this is an interesting signal. More importantly, the liquidation heatmap has not shown a dense breakout, indicating that although short positions have been reduced, there has not been a cascade effect.
From this perspective, the recent decline may really just be a technical adjustment, and the bottom risk is not significant.

[Coin World] Bitcoin continues its volatile trend today, currently priced at $86977.43, down 1.35% in the last 24 hours, with relatively active market trading. After a pullback from yesterday's high, BTC has been repeatedly testing the range of 86000-88000 recently, with trading volume maintaining at $45.049 billion. In the short term, Bitcoin faces some selling pressure, but the positioning attitude of mainstream institutions remains unchanged, and the market is still looking for a new equilibrium.

easy.fun recently completed a $2 million seed round of funding, led by Mirana Ventures. The project builds an on-chain trading arena on Hyperliquid, turning trading into a skill competition through competitive elements, aiming to accelerate product development, expand the team, and launch global events to attract more traders to participate.

The S&P 500 Index has performed well these past few days, rising for four consecutive days, mainly driven by technology stocks. However, interestingly, the year-end data seems a bit different—showing both highlights and concerns. This mixed trend is something that friends who follow global asset allocation should pay more attention to. The strong performance of technology stocks has always been a barometer for the market, especially for those in the Chain Community who are concerned about macroeconomic trends; this kind of signal is still worth pondering.

[Coin World] An interesting thing has happened. FalconX has just transferred 31,745 ETH to an unknown Wallet, and this transaction is worth approximately 93.66 million USD.
This transfer is quite significant. For friends who pay attention to on-chain dynamics, such large liquidity often implies something—either reconfiguring assets or preparing for the next operation. Currently, the transfer is to an unknown Wallet, so the specific intention is still not very clear.
Recently, the price of ETH has been fluctuating around the $9300 level, and the movements of institutional players are always worth pondering. Some say this is a selling signal, while others think it might just be capital consolidation. Anyway, there are always stories on the chain.

Economist Peter Schiff pointed out that Bitcoin will face difficulties in the next four years, criticizing its role as "digital gold" as no longer effective. Market funds are flowing from Bitcoin to traditional safe-haven assets such as gold and bonds, and Bloomberg analysts have described Bitcoin as "dead money," reflecting doubts about its risks and returns.

U.S. stocks opened weak today, with the Dow Jones and S&P 500 both down 0.1%, while the Nasdaq index remained flat. Cryptocurrency concept stocks were collectively under pressure, with BitMine leading the decline at 3.16%. Meanwhile, the decentralization of RWA tokenization continues to expand, with the platform having launched hundreds of RWA tokens, connecting CeFi and DeFi.

Bitcoin has recently underperformed compared to gold and silver, mainly due to institutional investors continuously reducing their holdings, resulting in a shrinkage of $5.1 billion in ETFs. Safe-haven funds are flowing into gold and silver, while the correlation between Bitcoin and tech stocks has weakened, showing reverse fluctuations. The market is following the upcoming PCE data, which will affect future trends.

The Central Bank of Russia is reconsidering cryptocurrency regulation and plans to ease participation restrictions on crypto assets, possibly allowing more institutions and individuals to invest. This marks a gradual change in the status of crypto assets in TradFi and signals a breakthrough in global market regulatory barriers.

[Chain News] Recently saw an interesting market research report that summarized the core characteristics of the 2025 Crypto Assets market - the fundamentals and price performance are completely two different matters.
Looking back at the situation in 2025 is indeed a bit frustrating. The U.S. established a strategic Bitcoin reserve, the Trump administration pushed for 401(k) to be included as a digital asset through executive orders, and updates in the SEC leadership brought a regulatory shift... These positive developments came one after another, but Bitcoin's performance was not as impressive as expected. Instead, early holders sold off in large volumes, and coupled with market structure adjustments, even though volatility hit a historic low, Bitcoin still underperformed compared to U.S. stocks and gold.
That being said, the expectations for 2026 are much more optimistic. Some analyses predict that Bitcoin will once again outperform stock indices and gold, with the key reason being that the positive effects of regulation will outweigh the pressures of capital allocation.
The macro environment is worth paying attention to. It is expected that Trump will appoint a dovish Federal Reserve.

[Block Rhythm] The Canadian listed company Matador Technologies has recently made significant moves. They plan to raise $58 million specifically to buy more BTC. And this is not a small-scale operation — the company's goal is quite clear, preparing to hold 1,000 Bitcoins by the end of 2026. With this funding injection, the company's ambitions in crypto asset allocation are indeed substantial. From the scale of the financing and the holdings target, institutional investors' confidence in the long-term value of BTC remains strong.

The overall Computing Power of Bitcoin has decreased by about 4%, referred to as "Miner Capitulation", which typically indicates that miners are choosing to exit due to low profits. Historical data shows that this phenomenon often signals that the price of Bitcoin is nearing the bottom and may soon rebound, but the specific trend still requires following market performance.

A leading exchange announced that it will delist 10 pairs of cross-margin and isolated-margin trading pairs priced in FDUSD on December 30, and will suspend its lending function starting from December 24. Holdings users need to act quickly to avoid liquidation or lending renewal issues, and it is recommended to close positions in a timely manner and transfer assets.

[Chain News] A certain leading exchange has officially announced that the 0626 quarterly delivery contract will be officially launched after 08:00 (UTC) on December 26, 2025. This new product includes mainstream assets such as BTC, ETH, BNB, XRP, SOL, covering two types of contracts: USDⓈ-M and COIN-M, with a maximum leverage of up to 50 times.
It is worth noting that the launch time of the new contract closely follows the delivery cycle of the existing 0926 quarterly contract—after waiting for the old contract to expire and complete delivery, the new quarter will be launched just a few hours later, so traders do not need to worry about any gaps in between. This seamless connection design allows players who continuously trade quarterly contracts to smoothly transition to the next trading cycle.
If you are interested in quarterly Delivery contracts, you can pay attention to this time point in advance to prepare for participation.