Bitget Daily Morning Report: Bitmine purchases over $200 million worth of ETH again, U.S. Q3 real GDP annualized quarterly preliminary value recorded at 4.3%
Author: Bitget
Today's Preview
1. Bitmine purchased another 67,886 ETH in the past 24 hours, worth over $200 million.
2. The Central Bank of Russia has released a draft concept for cryptocurrency market regulation, proposing to allow both qualified and non-qualified investors to invest in crypto assets under certain conditions. Non-qualified investors, after passing a test, can purchase up to 300,000 rubles (about $3,800) of highly liquid cryptocurrencies per year through a single intermediary; qualified investors, after passing a risk test, can invest unlimited amounts in any cryptocurrency except privacy coins.
3. US Treasury Secretary Bessent supports reconsidering the Federal Reserve's 2% inflation target.
Macro & Hot Topics
1. US Bureau of Economic Analysis: The economy expanded at a 4.3% pace in the third quarter, marking the fastest growth in two years.
2. The US Q3 real GDP annualized quarterly rate preliminary reading was 4.3%, far exceeding the expected 3.3% and the previous value of 3.8%. The core PCE price index annualized quarterly rate preliminary reading was 2.9%, in line with the market expectation of 2.9% and higher than the previous value of 2.6%. The actual personal consumption expenditure quarterly rate preliminary reading was 3.5%, significantly higher than the expected 2.7% and the previous value of 2.5%.
3. Spot gold once again stood at $4,522/oz; spot silver reached the $72/oz mark for the first time, up more than $43 this year.
Market Trends
1. In the past 24 hours, the entire cryptocurrency market saw $254 million in liquidations, with $200 million in long positions liquidated. BTC liquidation amount was about $84 million, and ETH liquidation amount was about $62 million.
2. US stocks closed higher on Tuesday, with the Dow preliminarily up 0.16%, the Nasdaq up 0.57%. The S&P 500 index rose 0.46%, hitting a new closing high. Nvidia (NVDA.O) rose 3%, Circle (CRCL.N) fell nearly 5%, and MSTR (Strategy) dropped about 3.92%.
3. Bitget BTC/USDT liquidation map shows: the current price around 87.5k is at the long-short liquidation boundary. In the 88k–90k range above, a large number of 50x–100x leveraged long positions are accumulated. If there is a breakout with volume, it could easily trigger a rapid short squeeze. In the 85k–86k area below, short liquidation and support are relatively weak. If a false breakout and pullback occur, the price may quickly fall, presenting an overall structure of "crowded longs, amplified volatility, and vulnerability to liquidation."
4. In the past 24 hours, BTC spot inflows were about $85 million, outflows were about $82 million, with a net inflow of $3 million.
News Updates
1. CertiK annual report: 248 phishing incidents were recorded in 2025, with losses of about $723 million.
2. Yardeni Research: Gold will reach $6,000 by the end of 2026.
3. Asset management company Amplify ETFs launched two new ETFs: Amplify Stablecoin Technology ETF (STBQ) and Amplify Tokenization Technology ETF (TKNQ), providing investors with opportunities in the stablecoin and asset tokenization sectors.
Project Developments
1. ETH Strategy holds 11,778 ETH, worth about $34.4 million.
2. Fuel and Bubblemaps, which had VC valuations of $1 billion, currently have market caps of only $11 million and $6 million, respectively. A comparison chart released by CryptoRank shows that most projects' market caps have shrunk significantly compared to their VC valuations, reflecting a correction of overvalued projects as market sentiment shifts.
3. Fasanara Capital purchased 6,569 ETH within two days and deposited them into Morpho as collateral.
4. USDC Treasury burned 50 million USDC on the Ethereum chain.
5. Resolv expanded into the altcoin market, with the first supported assets being HYPE and SOL.
6. Bitcoin ETF had a net outflow of about $60.1 million in one day; Ethereum ETF had a net outflow of about $358,000 in one day; Solana ETF had a net inflow of about $6.39 million in one day.
7. USDe's market cap dropped from $14.7 billion to about $6.4 billion after a trust crisis and collapse in October.
8. Nasdaq-listed company iPower reached a $30 million convertible note financing agreement to launch its DAT strategy.
9. SharpLink earned 460 ETH in staking rewards last week, with cumulative staking rewards reaching 9,701 ETH.
10. Arkham data: Trump Media transferred 2,000 BTC, worth about $174.8 million, 8 hours ago.
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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