By the end of Q1 2025, the Bitcoin spot total trading volume on CEX platforms had dropped to $10 billion, a decrease of approximately 77% from the peak on February 3rd.

On December 13, J.P. Morgan’s Scott Lucas—Managing Director and Head of Digital Asset Markets—spoke at the Solana Breakpoint Conference, emphasizing the community’s innovation, spirit of exploration, and the value of engaging with cutting-edge ideas. Lucas noted: “This community is brimming with amazing innovations and a deep spirit of exploration. When you combine those two, you start to see where business opportunities originate—and how they tie into the core of economic growth. That’s part of the bigger story. So the key, I think, is to truly engage: weave that entrepreneurial spirit and innovation into exploring opportunities. Not every innovation fits neatly into regulated markets, and that’s perfectly normal. Some target retail users, others focus on niche spaces—but there are always key insights here that deserve deep engagement and learning. Even if some ideas are temporarily outside our current business scope, drawing inspiration from these sparks and advancing the con

As of Dec. 13, Coinglass data indicates that if Bitcoin drops below $88,000, the cumulative long liquidation intensity across major centralized exchanges (CEXs) will reach $1.071 billion. Conversely, should Bitcoin climb above $92,000, the total short liquidation intensity for these CEXs will hit $1.057 billion. BlockBeats Note: Liquidation charts do not display the exact number or value of contracts being liquidated. Instead, their bars represent the relative importance of each liquidation cluster compared to adjacent clusters—i.e., their intensity. This means the chart illustrates how significantly the underlying asset’s price will be impacted when it hits a specific level. A taller “liquidation bar” signals a more intense reaction due to a liquidity cascade at that price point.

On December 13, data from Coinglass indicates that funding rates for major centralized (CEX) and decentralized (DEX) exchanges across mainstream cryptocurrencies remain broadly bearish. Specific funding rates for leading coins are detailed in the attached chart. **BlockBeats Note**: Funding rates are fees set by crypto exchanges to align perpetual contract prices with the underlying asset’s spot price. They operate as a capital exchange mechanism between long and short traders—exchanges do not collect this fee themselves. The rate adjusts the cost or profit of position holders to keep contract prices close to the underlying asset. **Rate Context**: A 0.01% funding rate acts as the baseline. Rates above 0.01% signal a generally bullish market, while rates below 0.005% indicate a broadly bearish market.

December 13: Per Arkham’s monitoring, two wallet addresses tied to the same whale (9uuDsd and 9jnPPD) transferred a total of 2.299 billion PUMP tokens to FalconX early this morning, valued at roughly $6.3 million. Historical data shows the whale has been accumulating PUMP consistently for over three months—first entering near the token’s price peak, then adding to its holdings during multiple market dips. Should the whale sell these tokens now, it could realize a loss of roughly $5 million.

Decrypt reported on December 13 that Florida prosecutors have seized approximately $1.5 million in cryptocurrency linked to Chinese national Tu Weizhi. The seized wallet contained AVAX, DOGE, PEPE, and SOL tokens. The Florida State Attorney’s Office Economic Crimes Unit obtained a court order to freeze assets controlled by Tu, who faces charges of money laundering, grand theft, and organized fraud. Florida authorities stated Tu will be arrested if he attempts to enter the U.S. The seizure stems from an investigation launched in July 2024, after an Orange County resident reported losing $47,421 wired to what appeared to be an online investment scam. Investigators traced the funds to Tu’s wallet.

Dec. 13 – Per Farside Investors’ monitoring, U.S. Bitcoin spot ETFs saw a net inflow of $49.1 million yesterday, including: - BlackRock IBIT: +$51.1M - Fidelity FBTC: -$2M Additionally, U.S. Ethereum spot ETFs recorded a net outflow of $19.4 million yesterday, with breakdowns as follows: - BlackRock ETHA: +$23.2M - Fidelity FETH: -$6.1M - Grayscale ETHE: -$14.4M - Grayscale Ethereum Trust: -$22.1M