Analysis: Bitcoin experienced a strong short-term rally yesterday. Caution is advised for those looking to chase long positions at the moment. The current support level is $89,923.

**December 3rd — Per OnchainLens data, a whale address used 10 million DAI ($10M) to purchase 3,297 ETH at an average price of $3,035 per token.** **Previously, the same whale had bought 2,640 ETH for $10.79 million, then sold those holdings for $10 million — incurring a $790,000 loss.** **This transaction boosted their ETH stack by 657 tokens, a textbook example of "sell low, buy lower."** **Involved addresses:** 0x0741c7e02d097383861a2c8b9bf7593503b9b748 0x489defef6d8ea607a52249e0a345476f54090f74

Per Coinglass data as of December 3rd: If Ethereum (ETH) breaks above $3,150, the cumulative short liquidation intensity across mainstream centralized exchanges (CEXs) will hit 542 million USD. Conversely, if ETH falls below $2,950, the cumulative long liquidation intensity for these CEXs will reach 946 million USD. BlockBeats Note: The liquidation chart does not show the exact number of contracts at risk of liquidation or the precise value of those contracts. Instead, the bars reflect the relative significance of each liquidation cluster compared to neighboring clusters—this is what’s meant by "intensity." Accordingly, the chart illustrates how strongly the price reaching a specific level will impact the market: a taller liquidation bar signals a more pronounced reaction driven by a liquidity cascade.

December 3 — Crypto exchange-traded product (ETP) issuer 21Shares today launched two new ETPs, giving investors access to top decentralized finance (DeFi) infrastructure: the 21Shares Ethena ETP (ticker: EENA) and 21Shares Morpho ETP (ticker: MORPH). Both products are now listed on major European exchanges, including the SIX Swiss Exchange, Euronext Amsterdam, and Euronext Paris, and support trading in U.S. dollars (USD) and euros (EUR).

On December 3, MGBX will launch its **Long vs Short Trend Battle** event, running December 4–10, 2025 (Singapore Time, SGT), open to all platform users. The battle outcome will be settled based on overall BTC/USDT perpetual contract price movement during the event period. Rewards are split across three categories, with a total prize pool of 9,000 USDT: - **Trend-followers**: 3,000 USDT (distributed by profit rate ranking) - **Countertrend traders**: 1,000 USDT (distributed by profit rate ranking) - **Trading Volume**: Additional 5,000 USDT (distributed by accumulated trading volume ranking)

**December 3rd (Coinglass Data):** Centralized exchanges (CEXs) saw a cumulative net outflow of 8,830.51 BTC over the past 24 hours. Top 3 CEXs by outflow volume: - Binance: 6,294.74 BTC out - Gemini: 1,221.66 BTC out - OKX: 1,023.75 BTC out Notably, Bitfinex topped the inflow list with 1,123.51 BTC incoming.

December 3 Global central banks net bought 53 tons of gold in October, according to World Gold Council (WGC) data — a 36% jump from September, marking the largest monthly net purchase since 2025. Emerging market central banks including Poland, Brazil and Uzbekistan were active buyers, underscoring gold’s role as a strategic reserve asset. Year-to-date official net gold purchases total 254 tons, with Poland leading at 83 tons. WGC surveys show 95% of central banks plan to keep increasing their gold holdings over the next year.