If Bitcoin drops below $86,000, the mainstream CEX long liquidation pressure will reach $1.017 billion

December 23rd — Ghana’s parliament has passed the *Virtual Asset Service Providers Act*, per a Monday announcement from the Ghanaian side. Under the legislation, individuals or institutions operating digital asset-related businesses must register with and be regulated by either the Bank of Ghana or the Ghana Securities and Exchange Commission, depending on the nature of their operations. Bank of Ghana Governor Johnson Asiama said the act lays the groundwork for licensing and regulating the virtual asset industry, ensuring emerging activities fit into a clear, accountable, and well-governed framework. In a prior speech, he noted the law means people will no longer face arrest for trading cryptocurrency, with the new framework’s goal to effectively manage associated risks. Data shows Ghana processed roughly $3 billion in cryptocurrency transactions between July 2023 and June 2024, and an estimated 17% of the country’s adults have used cryptocurrency. Looking ahead to 2026, Gh

December 23rd – Per Coinglass data, centralized exchanges (CEXs) recorded a cumulative net outflow of 15,200 ETH in the past 24 hours. The top three exchanges by ETH outflows were: · Binance: 26,300 ETH outflow; · Bybit: 2,616.43 ETH outflow; · Gate: 1,334.72 ETH outflow. Additionally, Kraken saw an inflow of 13,300 ETH, topping the inflow rankings.

On December 23, Coinglass data shows that if Ethereum drops below $2,900, the total long liquidation value across major centralized exchanges (CEXs) will hit $630 million. Conversely, should Ethereum break above $3,100, the total short liquidation value for these top CEXs will reach $918 million. **BlockBeats Note**: Liquidation charts do not display the exact number or value of contracts subject to liquidation. Instead, the bars on these charts represent the **relative importance** of each liquidation cluster compared to neighboring clusters — in other words, their "strength." As such, the chart illustrates how impactful reaching a specific price level will be: a taller "liquidation bar" means the price hitting that level will trigger a more intense response due to a liquidity cascade.

Per on-chain data, BlackRock’s address added 4,534 ETH and 45.379 BTC to its holdings 9 hours ago on December 23. The address’s total asset value now stands at $79.127 billion.

On December 23, QCP released its daily market note, noting that cryptocurrency market liquidity has weakened significantly as the Christmas holiday nears. While gold prices hit a fresh all-time high, Bitcoin has continued to trade in a narrow range. Data shows open interest for BTC perpetual contracts on major exchanges fell by roughly $3 billion overnight, with ETH perpetual contracts dropping by about $2 billion—signaling the market is actively deleveraging rather than repositioning. Contracted liquidity has raised the risk of two-way price pressure over the holiday period. Historically, Bitcoin typically sees 5-7% price swings during Christmas week, often tied to concentrated year-end options expirations. This Friday will bring a major expiration: around 300,000 BTC options contracts (valued at ~$23.7 billion) and 446,000 IBIT options contracts will expire. Over 50% of Deribit’s open interest is concentrated in these holiday expirations, with key strike prices at $100,000 a

On December 23, Coinglass data shows centralized exchanges (CEXs) recorded a net BTC inflow of 1,596.23 over the past 24 hours. Top 3 CEX inflows: - Kraken: +2,045.55 BTC - OKX: +233.79 BTC - Coinbase Pro: +167.13 BTC Binance led net outflows with -873.88 BTC.