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Russian Police Detain 7 Power Company Employees for Allegedly Assisting Illegal Cryptocurrency Mining Causing Around $129,000 in Damages

2 hours ago

December 29th — Russian police have detained seven employees of Rosseti Moscow Region, suspected of aiding illegal cryptocurrency mining operations in the Moscow region. The detained individuals held positions ranging from regular electricians to senior engineers. Investigators stated the power company employees provided paid "services" to illegal mining farms, including artificially lowering electricity meter readings, helping to bypass regulations, and giving advance notice of inspections. According to Russia’s Ministry of Internal Affairs, preliminary economic damage from these activities totals approximately 10 million rubles. (Bits Media)
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British fintech company GSTechnologies acquires Polish cryptocurrency service provider Finferno

UK fintech GSTechnologies Ltd (London Stock Exchange: GST) announced Wednesday (December 29th) it has acquired Polish virtual asset service provider Finferno Spó?ka z Ograniczon? Odpowiedzialno?ci? (Finferno Sp. z o.o.) for an undisclosed sum. The deal was funded with GST’s existing cash reserves and aims to expand the company’s digital asset footprint in Poland and Central Europe. Through the acquisition, GST will launch a new digital asset exchange and wealth management service in Poland—initially operating in pilot mode. (Source: Investing.com)

16 minutes ago

Bloomberg Analyst: All Asset Classes May See Broad Declines Next Year, Bitcoin Could Fall to $50,000

On December 29, Bloomberg Intelligence Senior Commodity Strategist Mike McGlone warned in a post that Bitcoin could fall to $50,000 by 2026—and potentially drop another 90% to $10,000. “Bitcoin was the first cryptocurrency, launched in 2009, but it now faces millions of digital asset rivals,” McGlone noted. “In contrast, gold has just three competitors: silver, platinum, and palladium.” He predicts gold will climb another 10% by 2026, trading above $5,000 per ounce. McGlone added that 2026 will be a tough year for all asset classes. Gold’s relative outperformance “may signal a pullback in U.S. equities in 2026, with crude oil, copper, silver, and all risk assets facing headwinds.”

16 minutes ago

Bitcoin's Morning Rally Sees $2 Billion Increase in Long Positions

On December 29th, CryptoQuant analyst @Darkfost_Coc noted that total Bitcoin network contract holdings rose by $2 billion amid this morning’s Bitcoin price surge. @Darkfost_Coc added that in cases like this, price swings tend to be short-lived. Leveraged positions are often temporary, which typically prevents the market from establishing a solid bottom—making it harder to see a sustainable bullish reversal.

16 minutes ago

QCP: BTC Price Distortion due to Holiday Liquidity Thinning, Directional Choices Await Liquidity Reversion

On Dec 29, analysts at QCP Capital noted Bitcoin (BTC) surged ~2.6% in early trading, with holiday-related illiquidity driving price distortions. The rally was fueled more by spot and perpetual buying pressure than liquidation activity. Deribit’s BTC perpetual funding rate climbed above 30%, signaling traders hold short gamma positions on the upside. If BTC holds above $94k, it could trigger amplified hedging buying pressure. On the downside: $85k December put options were not rolled over, with open interest dropping ~50% post-expiry. This reflects market participants’ focus on monitoring, directional uncertainty, or a wait for liquidity to return.

16 minutes ago

During a Whale's Downtrend, They Shorted Bitcoin 10x, Holding a Position Worth Over $36 Million

On December 29, Onchain Lens data shows a whale address that previously sold 255 BTC doubled down on shorting Bitcoin amid the market dip. The address currently holds 409.58 BTC worth $36 million, with an entry price of $87,892.

16 minutes ago

The "Buddy" continued to accumulate ETH and enter long positions on HYPE during the downturn, increasing the total position value to $25.2 million

December 29: Per HyperInsight monitoring, the entity “Big Brother” continued ramping up its long positions in Ethereum (ETH) and HYPE amid a market downturn. As of press time, its total position value has climbed to $25.2 million. Position details: - 25x ETH long: 8,000 coins, liquidation price $2,875 - 10x HYPE long: 55,000 coins

16 minutes ago

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