Bitcoin Long-Term Holder (LTH) data has once again become the focus of market attention. On November 21, after Bitcoin rebounded from its bottom to around $80,000, the supply of long-term holders simultaneously dropped to a cyclical low. As the price of Bitcoin recovered to around $90,000, rebounding about 15% from the low, on-chain data shows that after a 36% deep correction, the selling pressure from the spot market has significantly eased. This year, Bitcoin's prolonged sideways movement has mainly been influenced by selling pressure from long-term holders. LTH refers to users who have held Bitcoin for at least 155 days, and their behavior often represents deeper market trends. When Bitcoin held by short-term holders "matures" into long-term holdings, LTH supply usually increases; conversely, when long-term holders sell, it often indicates that the market is in a profit-taking or risk-averse phase.

VTB, Russia's second-largest bank, is planning to launch a regulated spot cryptocurrency trading service in 2026, targeting high-net-worth and qualified investors. This move marks the first official entry of a major Russian bank into the spot cryptocurrency market, and also indicates that Russia is accelerating the implementation of its digital asset regulatory framework under the pressure of international sanctions. According to local media reports on December 3, VTB has already begun testing crypto trading services with select high-net-worth clients. The bank emphasized that in the future, this service will be limited to qualified investors who meet specific portfolio size or income standards and will not be fully open to the general public. The move aims to provide a diversified asset allocation channel for a limited range of clients under controllable regulatory conditions.

With Bitcoin holding above $91,000, XRP has seen strong buying interest at the $2 psychological level. Latest data shows that after breaking through a key support, XRP's trading volume surged by 251% around $2, reflecting institutional funds absorbing market liquidity at this price point. The US spot XRP ETF continues to demonstrate strong appeal, with cumulative inflows exceeding $1 billion since its launch, making it the fastest-growing altcoin ETF. Although retail interest remains subdued, institutional demand is steadily expanding. The growth in ETF inflows has effectively offset the decline in open interest in the derivatives market, making the capital environment more favorable for long-term allocation.

Recently, two addresses of Abraxas Capital have been continuously closing ETH short positions, with a total closed amount of $217 million. The current position size is $51.57 million, with an unrealized profit of $6.68 million. At the same time, part of the funds has been used to increase holdings of HYPE spot, indicating a proactive adjustment strategy in the market.

ChainCatcher reports that the whale "1011 Insider" has increased their position to approximately 54,514 ETH after opening a 5x leveraged long position in Ethereum last night, through a series of very rapid and decisive additional buys and order placements. The liquidation price is around $1,801. Since opening the long position, the spot price of ETH has risen from the $2,950 range to the $3,105 range, an increase of over 5%. Given the current lack of market liquidity, this scale and approach could have an impact on the broader market.

FOLKS broke through 13.692 USDT in the spot market, with an increase of over 69%, reaching a cumulative gain of 227%. Folks Finance is a DeFi platform that offers lending, trading, and other functions. Users can earn returns by depositing assets, providing collateral, and participating in governance.

According to Jinse Finance, crypto analyst TXMC pointed out that despite the decline in Bitcoin prices, the liveliness metric continues to rise, indicating a bottom in spot demand and suggesting that the market bull cycle may not be over. This metric reflects the long-term trend of on-chain Bitcoin activity and shows an influx of new investment capital.

Analysts point out that the increase in Bitcoin activity indicators may suggest that the market cycle is not over. Despite the price decline, activity continues to rise, indicating a demand floor for spot Bitcoin and showing that market momentum remains positive.

According to data from blockchain intelligence analytics platform Nansen, "smart money" is anticipating a short-term decline in Ethereum, with short positions increasing by $2.8 million, bringing the total to over $21 million. At the same time, demand for spot Ethereum ETFs is insufficient, with net outflows for two consecutive days totaling approximately $75.2 million.

According to Gate News bot, and the official Gate announcement on December 8, 2025 Gate will launch Stable (STABLE) spot trading for the first time at 21:00 (UTC+8) on December 8, 2025, with the trading pair STABLE/USDT. StableChain is a USDT-native Layer 1 blockchain designed specifically for stablecoin payments. Every transaction is settled in USDT, featuring sub-second finality and low fees. The official website of the project is https://www.stable.xyz/, and the Twitter account is https://x.com/stable.

金色财经报道，周五（12月5日）纽约尾盘，现货黄金跌0.30%，报4194.86美元/盎司，本周累计下跌1.03%。

BlackRock's IBIT attracted $222.9 million in inflows over the past two weeks, while spot Bitcoin ETFs saw outflows of $275.6 million. During this period, Ethereum's inflows contrasted sharply with Bitcoin's outflows, and the ETH/BTC exchange rate rose by 5.77%.

PANews 12月5日消息，据mlmonchain监测，某巨鲸在过去30分钟内做空了37.5万枚HYPE（价值1,210万美元）——此空头规模几乎与其现货持仓量相当。 该钱包目前持有40万枚HYPE（价值1,290万美元），其中20万枚已质押，另外20万枚正处于解除质押队列中。

In the past two weeks, Ethereum (ETH) has strongly outperformed Bitcoin (BTC), with both capital flows and price structure indicating that market sentiment is clearly shifting towards ETH. The latest data shows that spot Ethereum ETFs recorded a net inflow of $360 million during the same period, while Bitcoin ETFs saw only $120 million—a threefold difference that highlights investors’ growing preference for the Ethereum ecosystem. In terms of price performance, ETH recently broke through the key resistance level of $3,200, completing a daily structure reversal, which means the trend has entered a new upward phase. Meanwhile, BTC still needs to break above $96,000 to confirm a breakout, giving ETH a structural advantage in terms of trend.

U.S. spot Bitcoin ETFs recorded a net outflow of $194.6 million on Thursday, marking the largest single-day outflow since November 20, intensifying short-term risk-off sentiment in the market. According to SoSoValue data, BlackRock's IBIT led the outflow list with a single-day outflow of $112.9 million; Fidelity's FBTC saw $54.2 million in outflows, while VanEck's HODL, Grayscale's GBTC, and Bitwise's BITB also continued their capital outflow trends. This outflow continued Wednesday's net outflow of $14.9 million, accompanied by a persistent decline in trading volume—total ETF turnover on Thursday fell to $3.1 billion, down significantly from $4.2 billion on Wednesday and $5.3 billion on Tuesday. This "weak volume and price" structure further reflects a rise in market wait-and-see sentiment.

Dogecoin (DOGE) declined again in the latest trading session, as the optimism brought by the ETF frenzy failed to reverse the weak market structure. Although 21Shares and Grayscale have successively filed for spot DOGE ETFs, briefly boosting network activity, the price still broke through key support levels, indicating that technical selling is dominating the trend. On-chain data shows that active DOGE addresses once rose to 71,589, the highest level since September, reflecting increased user participation. However, whale transactions remain sluggish, and there has been no significant ETF-related capital inflow. The sharp contrast between improving fundamentals and weak prices highlights the impact of declining market risk appetite.

Gate News 机器人消息，一位重要的“永续转现货”巨鲸交易者新开了一个 20 倍杠杆多头头寸，共计 4,046.83 ETH，总价值为 1,272 万美元。目前该头寸浮亏 -24.04 万美元，爆仓价格为 738 美元。 该交易者的整体表现

BlockBeats News, December 4, according to The Block, BRN Research analysts stated that despite limited spot momentum, Bitcoin's fundamental structure is steadily improving. BRN Head of Research Timothy Misir pointed out that, according to data from CryptoQuant and Glassnode, exchange balances have dropped to about 1.8 million BTC, the lowest level since 2017. Bitcoin’s realized market capitalization (monthly growth) remains positive, indicating that even as the overall market trades within a consolidation range, new capital continues to flow into BTC. Misir stated: "The market opened steadily and strongly, accumulation buying continues, exchange supply is decreasing, and the price is stabilizing above the real market average. What is currently lacking is a breakthrough of 96,000

BlockBeats News, December 4, DEX platform Reya stated in a post, "The Reya ICO attracted participation from over 4,000 users across more than 60 countries. This 2% token supply has been oversubscribed. The next steps are to complete distribution, launch the spot market, and list REYA on the Reya platform." Previously, it was reported that Reya would conduct its token sale on Coinlist from November 25 to December 2, selling 160 million tokens at a price of $0.01875 each, corresponding to a $150 million FDV. 50% will be

The US spot XRP ETF continues to attract capital, with net inflows for 12 consecutive days as of December 2, bringing total assets under management to $844.9 million—just one step away from the $1 billion AUM milestone. On December 1, there was an inflow of $89.65 million, followed by an additional $67.7 million the next day. Meanwhile, companies such as Invesco and Franklin Templeton have submitted applications to launch their own XRP ETFs. In comparison, the spot Solana ETF has an AUM of $651 million, while spot Bitcoin and Ethereum ETFs have $57.7 billion and $12.8 billion, respectively. In the DeFi sector, XRP is seeing new staking opportunities. The Firelight protocol, incubated by Sentora and supported by Flare, has launched an on-chain insurance product based on staking, offering yield options for XRP holders and addressing the insurance gap for over $1 billion in annual losses from exploit attacks, bringing real economic value to investors.

Chainlink (LINK) experienced a significant market correction this Monday, dropping to as low as $11.74. However, the price quickly rebounded and, as of press time, has risen approximately 24% from the low, currently trading at $14.61. Although the short-term recovery has been strong, the technical structure and liquidity distribution indicate that LINK’s upside potential may be limited. Recently, LINK surged 15% within six days, reaching a high of $13.57, driven by ETF-related news and spot buying. However, the rapid reversal also revealed that its long-term trend remains weak. Although the daily chart turned bullish after breaking above $13.57, the overall trend has yet to fully reverse.

Gate News Bot reported on December 4 that, according to CoinMarketCap data, as of press time, LAB (LAB) is currently priced at $0.09, up 17.22% in 24 hours, reaching a high of $0.11 and a low of $0.07. The current market cap is approximately $216,000, an increase of $31,700 compared to yesterday. LAB is a multi-chain trading infrastructure project. Users can access the LAB platform by logging in through Telegram or using a Google account. The project is currently in an invite-only phase, and interested users can join the waiting list. LAB also welcomes institutions or individuals interested in collaboration to contact them. Recent important news about LAB: 1️⃣ **Ness LAB (NESS) will be listed for spot trading on Gate** Gate will launch spot trading for Ness LAB (NESS) in January 2025.

BlockBeats News, December 4th, according to monitoring by HyperInsight, most whales with short positions exceeding $10 million on Hyperliquid are simultaneously holding spot positions. Among the top 3 addresses on the HYPE short position leaderboard: the largest HYPE short, "BobbyBigSize," holds a short position of approximately $51.5 million and a spot position of about $11.85 million; "Abraxas Capital" holds HYPE short positions totaling about $71 million across two addresses, and has been continuously increasing its HYPE spot holdings since the beginning of this month, rising from $56 million to $63 million in the past 3 days; "Flash Swing Hunter" holds a HYPE short position of approximately $32.91 million and a spot position of about $6.68 million.

Bitcoin is attempting to reclaim $100,000, supported by a significant contraction in volatility and a weakening US dollar, both of which bolster the upward trend. Ethereum, along with XRP and Solana, also display varying degrees of bullish structure, as market risk appetite continues to improve. Bitcoin: Volatility breaks below trendline, sending bullish signal Bitcoin's 30-day Implied Volatility Index (BVIV) has dropped to 48, falling below the upward trendline established since September for the first time, indicating that panic is gradually dissipating. Decreased volatility typically supports spot prices, while renewed weakness in the US Dollar Index further strengthens Bitcoin's upward momentum.

Charles Schwab CEO Rick Wurster recently confirmed at the Reuters Next conference in New York that the $12 trillion giant will officially launch spot trading for Bitcoin (BTC) and Ethereum (ETH) in the first half of 2026. According to the plan, the new service will first be tested internally among company employees, then rolled out to a small group of clients, and eventually expanded to all users in a phased launch. Wurster stated that Charles Schwab will advance cryptocurrency trading with a prudent approach to ensure system stability and regulatory compliance. After the initial pilot is completed, the platform will gradually expand participation, providing digital asset trading services to a broader range of investors. This strategy not only reduces technical risks but also helps ensure a smooth integration with Charles Schwab’s vast traditional financial system.

Franklin Solana ETF was listed on NYSE Arca on December 3, with the stock ticker SOEZ, becoming the seventh US Solana spot ETF. There was no net inflow on the first day of listing, with a trading volume of $120,000 and total net assets of $2.4 million. The total net assets of Solana spot ETFs have reached $915 million.

According to SoSoValue data, as of December 3, Grayscale LINK Spot ETF GLNK recorded a single-day net inflow of $3.84 million, with a net asset value of $67.55 million and a LINK net asset ratio of 0.67%. Meanwhile, Grayscale DOGE Spot ETF GDOG saw a single-day net inflow of $177,000, with a total net asset value of $6.99 million and a DOGE net asset ratio of 0.03%.

ChainCatcher news, according to CoinDesk, options trading volume linked to BlackRock's Bitcoin ETF (IBIT) has surged, with a total of 7,714,246 IBIT options contracts open or outstanding as of Tuesday. According to data from optioncharts.io, among options linked to US-listed stocks, ETFs, and indexes, IBIT options rank ninth in open interest; when considering only stock options, IBIT options rank second in open interest. The report notes that IBIT options have already surpassed gold ETFs and major tech stocks, highlighting Bitcoin's growing appeal as a macro asset. Despite the decline in Bitcoin's price, trading activity for IBIT options is higher than that for options linked to the SPDR Gold Trust ETF, which has risen this year.

In 2025, due to tightening global liquidity, increasing financial stress, and capital outflows, investors have increasingly favored safe-haven assets such as gold, while Bitcoin has come under relative pressure. Spot gold continues to strengthen, currently finding support near $4,000 and is expected to move toward the $4,500 resistance zone. In contrast, Bitcoin has pulled back after reaching an all-time high in October and, constrained by tight financing and market leverage pressures, is currently seeking a rebound at the key $80,000 support level. Macroeconomic factors have led to a clear divergence between the two: the overnight financing rate (SOFR) is near 4.0%, the Treasury General Account (TGA) remains elevated, global liquidity is restricted, and systemic financial stress is rising. Demand for risk assets has weakened, while demand for safe-haven assets has rebounded, pushing gold prices higher. At the same time, financial market volatility and the unwinding of arbitrage trades have exacerbated short-term pressure on Bitcoin.

The options contract activity for BlackRock's spot Bitcoin ETF (IBIT) continues to climb. As of Tuesday, IBIT had 7,714,246 open interest (O.I.) contracts, ranking ninth among all U.S.-listed stocks, ETFs, and index options, and second among stock options alone. Data shows that Bitcoin ETF options are rapidly becoming one of the most closely watched macro assets in the U.S. market. BloFin Research pointed out that if Deribit open interest is included, IBIT options' scale can rival that of VIX and SPY options, further solidifying Bitcoin’s status as a macro asset. IBIT options were launched in November 2024, providing ETF holders with risk management tools while meeting institutional investors' demand for regulated options trading. Traders widely use these options for hedging, speculation, and covered call strategies.

21Shares has submitted a revised Dogecoin ETF application to the U.S. Securities and Exchange Commission (SEC), confirming the management fee and disclosing additional details. This spot Dogecoin ETF is expected to join the ranks of Grayscale (GDOG) and Bitwise Dogecoin ETF (BWOW), further driving up the price of Dogecoin. According to the latest filing, 21Shares has amended its S-1 document for the fifth time, confirming a management fee of 0.50%, which accrues daily and is paid weekly in the form of Dogecoin (in arrears). The document also retains a delayed issuance clause, which may take effect after submitting the 8(a) application, but no fee waiver information has been disclosed at this time.

Franklin Templeton's Solana ETF has received official approval from the New York Stock Exchange Arca (NYSE Arca) and is about to enter the trading phase. This means the fund will soon become one of the newest Solana (SOL) spot ETFs on the US market, competing with six existing SOL funds for the attention of institutional and retail investors. According to the latest filing submitted to the US Securities and Exchange Commission (SEC), NYSE Arca has approved the ETF's listing application, which is the final key step before the product begins trading. Franklin Templeton had previously submitted its final regulatory documents, which typically means the fund can be launched on the market within a few days. Notably, the company recently successfully launched an XRP ETF, and the advancement of this SOL ETF is seen as an important move in its proactive strategy to expand into crypto assets.

Bitcoin (BTC) rebounded after five consecutive weeks of decline, but its upward momentum remains weak, with key levels still needing to be broken before a true reversal can occur. Although BTC regained a critical price point in the past 24 hours, institutional demand and on-chain activity remain sluggish, leaving this week’s market conditions fragile. The biggest risk currently comes from insufficient demand. According to Farside data, spot Bitcoin ETFs saw only $8.5 million in inflows on Monday, but experienced outflows as high as $61.6 million. This means the price recovery of Bitcoin has not been supported by actual institutional funds. ETFs are typically seen as a barometer of institutional sentiment, and the recent continued net outflows reflect a still-cautious market. However, this trend has started to reverse: on Tuesday, Bitcoin ETFs saw a net inflow of $58.5 million, while Ethereum ETFs experienced a net outflow of $9.9 million.

In the past three months, Bitcoin has dropped by about 18%, sparking concerns in the market about a potential “crypto winter.” On Tuesday, the stock price of US Bitcoin companies plummeted by around 40%, causing panic among some investors. However, the latest report from Glassnode and Fasanara Digital indicates that market structure indicators suggest this downturn is more of a cyclical adjustment rather than a complete collapse. The report points out that since the cycle low in 2022, Bitcoin has attracted over $732 billion in new capital, with a realized market value of around $1.1 trillion. The spot price has risen from $16,000 to approximately $126,000. Realized market value is typically the first indicator to contract during a crypto winter, but there has been no significant shrinkage so far. At the same time, one-year realized volatility has decreased from 84% to about 43%, indicating increased liquidity. ETFs and cash-margined derivatives trading have become active, suppressing price volatility.

The US Securities and Exchange Commission (SEC) is reviewing an application to approve the launch of FLEX stock options on the BlackRock Bitcoin ETF (IBIT). According to a filing submitted on December 2, the BOX Exchange has requested a rule change to allow trading of FLEX IBIT options and is seeking an SEC waiver for the 30-day implementation delay in order to protect investor interests and ensure fair competition among exchanges. Nasdaq PHLX and Nasdaq ISE have also submitted similar proposals, with Nasdaq ISE becoming the first exchange approved to list options on IBIT. The introduction of FLEX IBIT options aims to help market participants manage the volatility risk of the BlackRock Bitcoin ETF more effectively, while also increasing liquidity and reducing counterparty credit risk. In addition, BlackRock is awaiting approval for the iShares Bitcoin Yield Plus ETF (ETHA), which will provide investors with yield-focused Bitcoin strategies. Unlike IBIT, which only tracks the spot price of Bitcoin, this ETF will offer more stable returns for yield-oriented investors. The SEC is expected to decide on the listing of options and ETFs for IBIT and ETHA in the first quarter of 2026.

The latest report from Glassnode shows that the Bitcoin market is entering a more mature cycle, with a significant increase in institutional participation, decreased market volatility, and rapid expansion in the scale of tokenized real-world assets (RWA). Data indicates that approximately $732 billion in new capital has been absorbed this cycle, and one-year realized volatility has nearly halved, demonstrating sustained improvement in market stability. In the past 90 days, Bitcoin’s on-chain settlement volume was about $6.9 trillion, on par with payment giants such as Visa and Mastercard. Although some trading has shifted to ETFs and brokerage channels, on-chain transactions still dominate. Capital inflows into regulated ETFs are driving funds to move through traditional channels, enhancing market liquidity and reducing spot volatility.

Hedera (HBAR) saw a significant price rebound after Vanguard Group launched its first HBAR ETF, rising 12.7% in 24 hours. This marks a continued increase in institutional interest in the Hedera ecosystem, following Canary Capital's HBAR ETF attracting $80 million in inflows last month. On Tuesday, Vanguard Group, which manages $11 trillion in assets, confirmed the issuance of the HBAR ETF, seen as an important signal of traditional finance further entering the crypto asset space. The market responded positively, with HBAR rebounding along with the broader crypto market that day, but the core driver behind its rise was the new spot demand brought by the ETF listing.

Gate News Bot reports that as of December 3rd, according to CoinMarketCap data, LINK (Chainlink) is currently priced at $14.23, up 17.59% in the past 24 hours, reaching a high of $14.23 and a low of $11.76 in the same period. The 24-hour trading volume has reached $974 million. The current market capitalization is approximately $9.919 billion, up $1.484 billion compared to yesterday. Chainlink is the industry-standard oracle platform, supporting decentralized finance and driving capital markets on-chain. Chainlink provides reliable external data sources for smart contracts, enabling them to securely interact with off-chain resources. Recent important news about LINK: 1️⃣ **The first Chainlink spot ETF is about to be listed** Grayscale Chai

Litecoin (LTC) surged 10% today, making it one of the best-performing major cryptocurrencies in the market. One of the key factors driving the rally is the official launch of Vanguard’s LTCC spot ETF channel this morning, which provides traditional finance users with more convenient access to Litecoin exposure and has significantly boosted market sentiment. From a price structure perspective, LTC is currently moving within an increasingly tight symmetrical triangle. It has recently found strong support and rebounded near $77.51, and at the time of writing, remains stable at around $82.94. The pattern is approaching its apex, indicating a potential breakout may be imminent. Each time the price tests the lower boundary it quickly rebounds, showing that buying momentum is strengthening.

Foresight News reports that stablecoin trading and payment infrastructure platform OSL Group has announced it will offer compliant digital asset spot and derivatives trading services in Europe through direct operations and partnerships with local collaborators. The service is expected to officially launch in the first quarter of 2026.