BTC breaks through the $87000 mark

In the past week, 10 newly created wallets received 2612 BTC worth approximately $231 million from BitGo. （Lookonchain）

[Crypto Market Plummets, Bitcoin Falls Below $84,000, Nearly $1 Billion Liquidated in 24 Hours] On December 2, Bitcoin briefly fell below $84,000, dropping over 8% at one point. The total market capitalization of the crypto market fell below $3 trillion, with $974 million liquidated across the network in the past 24 hours, including $851 million in long positions, affecting over 260,000 traders. Arthur Hayes stated that the Bank of Japan hinted at a possible rate hike in December, with the USD/JPY exchange rate fluctuating in the 155-160 range, indicating a hawkish stance by the Bank of Japan, which could impact global liquidity expectations. Threshold Network co-founder Maclane Wilkison noted that the Bank of Japan's rate hike signal has shaken risk assets. Additionally, the market is concerned that Bitcoin's weakening price could force Strategy to sell coins due to insufficient cash reserves. S&P Global Ratings downgraded USDT's stability rating to "weak," warning that Bitcoin's decline could trigger under-collateralization risks. Tether CEO Paolo Ardoino responded, stating that the group's equity is close to $30 billion and that S&P did not take into account the group's additional equity and U.S. Treasury yields. Boris Revsin, partner at Tribe Capital, described this as a "leverage washout," citing an unfavorable macro environment and weak performance of risk assets. Cardiff founder William Stern commented that with the Federal Reserve meeting approaching, institutional investors are reducing risk exposure and cutting back on holdings of highly volatile assets like Bitcoin.

Monitoring shows that the wallet associated with Paradigm Capital has deposited 6300 ETH worth approximately $17.6 million into Coinbase. The flow of funds shows that the ETH has been transferred to the Coinbase platform. （Onchain Lens）

Binance co-founder Zhao Changpeng and YZi Labs are pushing for a management restructuring of CEA Industries, the BNB treasury of the listed company. （Decrypt）

["Calm Order King" Bottom-Fishing BTC, ETH, SOL, Total Positions Reach $13.61 Million] In the past 7 hours, "Calm Order King" opened new long positions in BTC, ETH, and SOL when BTC was around $84,900, bringing the total position size to $13.61 million. At 10 PM yesterday, this address closed a BTC short position, earning $50,000 in profit. Previously, short positions in MON, ZEC, and SOL were also closed. Since November 27, after depositing approximately $200,000 into Hyperliquid, this address has repeatedly opened positions, increasing account funds to $780,000. The current main positions are: - $6.51 million in BTC long positions with 40x leverage, unrealized profit of $100,000; - $3.52 million in SOL long positions with 20x leverage, unrealized profit of $60,000; - $3.50 million in ETH long positions with 25x leverage, unrealized profit of $58,000. This trader previously earned over $30 million through precise predictions, but multiple mistakes in November have nearly wiped out those profits.