10 #Bitcoin ETFs outflows 4,964 $BTC(-$458.3M) and 9 #Ethereum ETFs outflows 4,701 $ETH(-$15.21M) yesterday.

December 23rd — Official website data from Pacifica and Hyperliquid shows pre-market perpetual contracts for Lighter (LIT) are trading with price and funding rate discrepancies across the two platforms, prompting some traders to pursue arbitrage hedging. Currently, LIT trades at ~$3.94 on Pacifica, with a -0.0134% funding rate (shorts pay longs). On Hyperliquid, the token is priced ~$4.05, with a +0.0013% rate (longs pay shorts). The price gap is roughly 1%, and their funding rate directions are opposite. Earlier today, Hyperliquid launched LIT (Lighter) USDC perpetual contracts, supporting up to 3x leverage. On-chain data analysis and copy trading tool Coinbob has rolled out Coinbob Pacifica (@CoinbobPAC_bot), letting users copy high-frequency traders’ strategies, earn trading points, and gear up for potential airdrop opportunities.

**December 23 Update** On-chain analyst Ai Auntie (@ai_9684xtpa) notes that address 0xEfa...C8222 staked UNI tokens before the Uniswap governance proposal’s submission, accumulating 1.68 million UNI over the past week with an unrealized gain of $1.37 million. Between December 15 and 23, the address withdrew 1,682,220 UNI from Coinbase—valued at $8.75 million at an average withdrawal price of $5.2 per token. The proposal went to a final governance vote on December 18, passed on December 22, and UNI hit a peak of $6.5 during this window.

December 23rd — Per the Coinbob Popular Address Monitor, the "Ultimate Short" address closed a portion of its BTC short position over the past 5 hours, locking in approximately $1.17 million in profit. The closure size totaled around $4.35 million. Since November, this whale address has executed 5 similar profit-taking moves at local lows without covering its short positions. Compared to its $136 million peak short position at the end of October, its current BTC short exposure has dropped by roughly $93 million — with $57 million closed this month alone, marking an accelerating profit-taking trend. Currently, the whale still holds ~$43.63 million in BTC short positions, with $12.2 million in unrealized profit (558% return), an average entry price of $11.15k, and a liquidation price of $10.23k. Additionally, it placed take-profit orders in the $67.2k-$76.2k range yesterday. Since establishing this batch of BTC short positions on May 9th, the address has engaged in multiple swin

On December 23, Coinglass data shows Bitcoin (BTC) briefly surged above $90,000 overnight before retreating to around $87,000. Subsequently, funding rates across major centralized exchanges (CEX) and decentralized exchanges (DEX) signaled a market-wide shift back to bearish sentiment. Currently, only BTC and ETH perpetual contract pairs on Binance and Bitget are holding neutral funding rates. OKX, Bybit, and other platforms have seen their rates fall back into bearish territory. Low-cap altcoins (often colloquially referred to as "shitcoins") continue to post significantly negative funding rates. Specific funding rates for major coins are shown in the attached image. **BlockBeats Note**: Funding rates are fees set by crypto trading platforms to align perpetual contract prices with the underlying asset’s market value. This is a mechanism for fund transfers between long and short traders—exchanges do not collect these fees. Instead, they adjust the costs or profits of traders

**Dec. 23** VanEck’s latest report notes a recent drop in Bitcoin mining activity could signal an impending price rise—aligning with historical market trends. In their Monday report *Mid-December 2025 ChainCheck*, VanEck analysts highlight Bitcoin has historically seen higher odds of positive returns following falling mining activity. Since 2014, Bitcoin’s forward 90-day return has been positive 65% of the time when the network’s hash rate dropped, versus 54% when hash rate rose. The analysts add: “Empirical evidence suggests hash rate drops may benefit long-term Bitcoin holders,” calling the pattern a “reverse signal” tied to miner capitulation—where weaker operators exit the network amid financial strain. This correlation is repeating now: Bitcoin’s hash rate fell 4% in the month ending Dec. 15, marking its biggest drop since April 2024. The report further notes: “Additionally, when hash rate compression lasts for an extended period, positive expected returns tend to be mo