Huang Renxun has left Beijing, and NVIDIA has not disclosed whether Huang Renxun met with the DeepSeek founder.

Data from Coinglass shows Bitcoin (BTC) had a net outflow of 510.29 BTC across centralized exchanges (CEXs) in the past 24 hours. The top three CEXs by BTC outflow were: - Kraken: 1,219.12 BTC out - Gemini: 481.69 BTC out - Gate: 140.12 BTC out Additionally, Binance led CEX inflows with 1,671.26 BTC coming in.

December 25 – Per data from Coinbob Popular Address Monitoring (https://t.me/Coinbob_track_CN), most crypto whales showed no new activity over Christmas. The “BTC OG Insider Whale” has kept liquidation exposure above $40 million for a week, while the “CZ Contrarian” whale remains long on ETH and XRP with total exposure near $30 million. Key updates: - **BTC OG Insider Whale**: No position changes since flattening ETH/SOL longs on Dec 18. Total liquidation exposure ~$48.2M. Top holding: ETH long ($41.21M exposure, -34%), avg entry $3,147, size ~$603M. Also holds BTC/SOL longs; total size ~$723M (Hyperliquid’s top ETH long). - **CZ Contrarian**: ETH long: ~$13.8M exposure (-122%), size ~$168M, avg $2,947, liquidation price $2,669, floating profit $75k. XRP long: ~$724.1M size, $16.59M exposure (-229%). No changes in 7 days; total exposure $30.42M (Hyperliquid’s largest XRP long, 2nd-largest ETH long). - **pension-usdt.eth**: 3x-leveraged ETH long: ~$88.32M size, avg $2,967, liquidat

**December 25th Update** According to Coinglass data, Ethereum’s cumulative long liquidation intensity across major centralized exchanges (CEXs) will hit $796 million if the token falls below $2800. Conversely, cumulative short liquidation intensity on major CEXs will reach $889 million if Ethereum breaks above $3100. **BlockBeats Note** Liquidation charts do not display the exact number of contracts awaiting liquidation or the precise value of contracts being liquidated. The bars on these charts actually reflect how important each liquidation cluster is relative to its adjacent clusters—i.e., "intensity." Thus, the chart shows the extent to which the underlying asset’s price will be affected when it hits a specific level. A taller "liquidation bar" signals a more intense price reaction due to a liquidity cascade.

On December 25, monitoring data from HyperInsight (via https://t.me/HyperInsight) shows the "BTC OG Insider Whale" still holds a combined $723.14 million in long positions across BTC, ETH, and SOL. Its total floating loss has narrowed to $49 million, and it has paid $2.706 million in funding fees. **Position breakdown**: - ETH long: $598.65 million, entry price $3,147.39, floating loss $41.19 million - BTC long: $87.61 million, entry price $91,506.7, floating loss $3.89 million - SOL long: $36.93 million, entry price $135.2, floating loss $3.82 million

December 25th — Per monitoring from HyperInsight (via its Telegram channel @HyperInsight), the Ethereum long position tied to the "Buddy" address (linked to Huang Lizheng) now has an unrealized loss of over $230,000. **Key Details**: - 7,400 ETH long position with 25x leverage - Entry price: $2,976.22 - Liquidation price: $2,866.48 The address posted a $200,000 profit over the past 7 days but has lost $3.46 million in the last month.

Per Lookonchain data as of December 25th: A new wallet (0x89BC) has deposited 4 million USDC into Hyperliquid over the past 4 days to execute BTC longs and ETH shorts, currently sitting on ~$50k in net profit. Current Positions: - 10x BTC Long: 218.6 BTC (~$19.15M) | Unrealized Loss: $88k - 10x ETH Short: 5,294 ETH (~$15.59M) | Unrealized Gain: $139k