Bitget Daily Digest (Dec. 2) | Spot Bitcoin ETFs saw USD 3.5 billion in outflows in November; Massimo added BTC to its treasury reserve strategy; Benchmark says there is no need to worry about Strategy’s solvency

Today’s Outlook

1、A suspected Bitmine or Sharplink Gaming address received over 7,080 ETH.

2、The FDIC is expected to release the first regulatory draft for stablecoin issuance under the GENIUS Act later this month.

3、SEC Chair Paul Atkins will deliver a speech at the New York Stock Exchange tonight, focusing on the 250th-anniversary reform vision for the U.S. capital markets.

4、Spot Bitcoin ETFs saw USD 3.5 billion in outflows in November, marking the largest monthly outflow since February.

 

Macro & Hot Topics

1、The probability of a 25-basis-point Fed rate cut in December stands at 87.6%.

2、Polygon co-founder: hopes Strategy will not become the LUNA of this cycle; Wall Street broker Benchmark says there is no solvency concern for Strategy.

3、Kalshi and Polymarket recorded USD 5.8 billion and USD 3.74 billion in trading volume in November, both hitting all-time highs.

4、Bitfinex Alpha: the crypto market is approaching a local bottom, with Q4 likely to build a foundation for sustainable recovery.

5、Data shows publicly listed companies globally net-bought USD 21.86 million worth of BTC last week.

 

Market Performance

1、Over the past 24 hours, total crypto liquidations reached USD 583 million, including USD 457 million in long liquidations. BTC liquidations totaled USD 281 million, and ETH liquidations totaled USD 124 million.

2、U.S. equities: Dow -0.9%, S&P 500 -0.53%, Nasdaq Composite -0.38%.

3、BTC is trading at USD 86,420, positioned in the center of a high-leverage long liquidation cluster (around USD 85,400–88,000). Downward moves may trigger cascading long liquidations. Major short-liquidation zones are above USD 88,500; a breakout could force short covering and drive prices higher.

4、In the past 24 hours, BTC spot inflows totaled USD 219 million and outflows totaled USD 215 million, resulting in a net inflow of USD 4 million.

News

1、Bloomberg: Stablecoin issuer First Digital plans to go public via a SPAC merger.

2、Bitcoin mining profitability has compressed to historical lows, pushing the industry into a survival-selection phase.

3、Google has expanded Gemini 3 and Nano Banana Pro AI search capabilities to nearly 120 countries.

 

Project Updates

1、A whale transferred 6.2 million LDO to Binance after two years of inactivity, facing a loss of over USD 6 million.

2、A whale moved over 10,000 ETH to Kraken, possibly ending a five-year holding period.

3、Vanguard, the world’s second-largest custodian, has opened cryptocurrency ETF trading, supporting BTC, ETH, and other major assets.

4、Kalshi has migrated thousands of prediction markets to Solana.

5、Synthesis’s long-term strategic investment in Sushi includes purchasing over 10 million SUSHI tokens.

6、USDC Treasury burned 55 million USDC on the Ethereum network.

7、Jared Grey announced he is stepping down from Sushi’s leadership role and transitioning to an advisory role; Sushi also received a major investment from Synthesis.

8、U.S.-listed company Massimo announced it will include Bitcoin in its long-term treasury reserve strategy.

9、Strategy updated its FY2025 profit outlook: if BTC ends the year between USD 85,000–110,000, revenue could reach USD 7–9.5 billion.

 

Disclaimer: This report is generated by AI and manually reviewed only for information verification. It does not constitute any investment advice.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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