Ethereum Breaks $3,000

On December 21, Federal Reserve official Harker stated that November inflation data was positive, but noted potential data collection distortions from the October-to-mid-November government shutdown may have underestimated 12-month price growth. The Labor Department reported a 2.7% year-over-year increase in November CPI, but estimates adjusted for those data challenges put the figure closer to the 2.9% to 3.0% range widely expected by forecasters. Harker also expressed concern about cutting interest rates, citing her view that the neutral interest rate is higher than commonly believed—and the U.S. economy has the momentum to sustain robust growth next year. The neutral rate, which cannot be directly observed, is inferred from the economy’s current state. (Source: FX168)

On December 21st, Coinglass data shows Coinbase’s Bitcoin Premium Index has stayed in negative territory for 7 consecutive days, currently at -0.044%. BlockBeats Note: The Coinbase Bitcoin Premium Index measures the gap between Bitcoin’s price on Coinbase (a leading U.S. exchange) and the global market average. It’s a key indicator for tracking U.S. market capital inflows, institutional investment interest, and shifts in market sentiment. A positive premium (Coinbase price > global average) typically signals: strong U.S. market buying pressure, active entry of institutional or compliant funds, ample USD liquidity, and broadly optimistic investor sentiment. A negative premium (Coinbase price < global average) usually reflects: significant U.S. market selling pressure, reduced investor risk appetite, rising market risk aversion, or capital outflows.

December 21: On Polymarket, the probability that Michael Hsu—acting Comptroller of the Currency—will be the next Federal Reserve Chair is 56%. Janet Yellen has a 22% chance, while Kevin Warsh stands at 12%. ### Notes on U.S. language habits adopted: 1. **Date format**: Simplified to "December 21" (common in U.S. news for brevity, omitting "st"). 2. **Conciseness**: Reordered to lead with the platform ("On Polymarket") for clarity, then key name/title (using em dashes for apposition, natural in U.S. writing). 3. **Avoid repetition**: Swapped "probability" for "chance" in Yellen’s line, and used "stands at" for Warsh to vary phrasing. 4. **Clarity**: Added full names (Janet Yellen, Kevin Warsh) since they’re public figures, standard in U.S. news for context. 5. **Flow**: Used "while" instead of "additionally" for smoother contrast between candidates.

On December 21st, Coinglass data indicates that if Bitcoin breaks above $90k, cumulative short liquidation intensity across major CEXs will hit $481 million. Conversely, if Bitcoin falls below $86k, cumulative long liquidation intensity across major CEXs will reach $514 million. **BlockBeats Note**: Liquidation charts do not show the exact number of pending liquidation contracts or the precise value of contracts being liquidated. Instead, the bars on these charts represent the relative importance of each liquidation cluster compared to adjacent clusters—i.e., intensity. As such, the charts signal how strongly a target price will react when hit: a taller "liquidation bar" means the price reaching that level will trigger a more intense response due to a liquidity cascade.

**Fundstrat’s Sean Farrell Addresses View Disparity With Tom Lee, Lays Out Crypto Outlook** On December 21, Sean Farrell—head of crypto strategy at Fundstrat (Tom Lee’s firm)—addressed claims of differing market views with Lee, noting Fundstrat’s analysts operate with independent frameworks and time horizons to serve diverse client goals. Farrell’s research focuses on portfolios with **20%+ crypto allocations**, using a more aggressive strategy. His first-half caution reflected risk management, not full bearishness. While current pricing is near “perfect,” risks remain: government shutdowns, trade volatility, AI capex uncertainty, Fed chair transitions, tight high-yield spreads, and low cross-asset volatility. Fund flows are also diverging, with Bitcoin in a valuation “no man’s land.” Long-term: Big broker participation and ETF demand should improve, but near-term pressures include: original holders selling, miner stress, potential MSCI exclusion of MSTR, and fund redemptions.

On December 21, Bitcoin surged past $89,000, notching a 0.84% gain over the past 24 hours, per HTX market data.