Opinion: Bitcoin hit a low of $55,000 in this cycle, and the " $35,000 bottom" theory is nonsense

On December 2nd, data from Farside Investors shows U.S. Ethereum spot ETFs recorded a net outflow of $79 million yesterday, snapping a five-day streak of net inflows. Among them, Grayscale’s ETHE posted a net outflow of $49.8 million, while Grayscale’s ETH saw a net outflow of $20.3 million.

On December 2nd, data from Farside Investors showed U.S. Bitcoin spot ETFs posted a net inflow of $8.5 million yesterday—marking the fourth straight day of net inflows. Notably, BlackRock’s BIT recorded a net outflow of $65.9 million, while Fidelity’s FBTC saw a net inflow of $67 million.

On December 2, Canaan Inc. announced a partnership with green energy developer SynVista Energy to jointly build a Bitcoin mining platform that dynamically adjusts based on renewable energy—further boosting the company’s green energy initiatives. The platform will leverage an AI scheduling system to real-time match fluctuations in renewable energy supply with mining machines’ power demands, aiming to improve clean energy utilization and avoid straining the power grid. Per the Cambridge Bitcoin Electricity Consumption Index, Bitcoin currently accounts for roughly 0.8% of global electricity consumption. (Cointelegraph)

As of December 2nd, OnchainLens monitoring reveals a wallet linked to the WLFI team (DHf6...VM8m) deposited 73.16 million WLFI tokens into Binance 13 hours ago, with the deposit valued at $11.11 million.

On December 2nd, French Bitcoin savings app Bitstack announced it has closed a $15 million Series A funding round, led by 13books Capital, with participation from YC, Serena, Plug and Play, and other existing shareholders. The new capital will fund European expansion and product upgrades, including the January 2026 launch of a Visa debit card with Bitcoin rewards (dubbed Stackback). Bitstack aims to become Europe’s leading Bitcoin savings platform.

Per LookOnChain monitoring, whale wallet **pension-usdt.eth** has made two notable ETH trades recently: - **Yesterday**: The whale took a 2x leveraged short position on ETH worth $18 million, then closed it for a $910,000 profit shortly after a sharp ETH price drop. - **Dec. 2**: The same whale switched to a long position, opening a 2x leveraged long on 20,000 ETH (valued at $56 million) with an entry average price of $2,825.9. ### Notes on American English adaptation: - Uses **bullet points** for readability (common in crypto/finance quick updates). - Replaces awkward phrasing like "doubled shorted" with standard "2x leveraged short position" (industry-standard terminology). - Adds commas for thousand separators (e.g., $2,825.9) and clear time framing (separate "Yesterday" / "Dec. 2" sections). - Keeps wallet address consistent (no unnecessary changes to on-chain identifiers). - Prioritizes brevity while retaining all key data (position size, leverage, value, profit,