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QCP: Christmas Week Liquidity Contraction, Cryptocurrency Market Maintains Range-Bound Trading

2 hours ago

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 and $85,000, and the largest pain point near $95,000. Recent data shows open interest for $85,000 put options has declined, while $100,000 call options remain relatively stable—reflecting limited bullish expectations for a “Christmas rally” in the market. Meanwhile, the risk reversal indicator shows sentiment has eased slightly from the past 30 days but remains slightly bearish overall. Analysts note that beyond options fund flows, year-end tax-loss selling could amplify short-term volatility in the low-liquidity environment. However, historical trends show holiday moves tend to mean-revert once liquidity returns in January. Without a clear directional breakout, the crypto market may continue ranging in the near term.
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VanEck: Mining Activity Decline Is a 'Bullish Signal' for Bitcoin Price

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macOS Trojan Update: Spreading through Signed App with User Data Encryption Poses Increased Stealth Risk

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「Aster Traders Showdown」 Event Point: 28 traders from Team Fund have been liquidated, triggering a 25% overall drawdown and resulting in their defeat

December 23rd Per data from Aster’s official website, today is the final day of the **Aster Man vs. Machine Competition**. - **Trader Team**: 28 members hold nearly zero balances; overall ROI has dropped to 25.6%. - **AI Team**: Has seen a smaller overall drawdown, roughly 5.03%. On the total profit leaderboard: - Trader **Tippy** (X: @tippy_crypto) leads with ~$27,400 in balance (a ~$8,640 loss over the past 24 hours). - Trader **Xiaoxia the Trader** (X: @traderxiaoxia) is second with ~$24,900 (a ~$2,400 loss in 24 hours). - Trader **Panke** (X: @AsterGod) is third with ~$23,600 (a ~$567 gain in 24 hours). The AI Team’s top performers are variants of Claude Sonnet 4.5, ranking 15th and 22nd overall. The top AI entry, **Claude Sonnet 4.5 Aggressive**, has ~$15,500 (a ~$236 gain in 24 hours). Per Aster’s official announcement: - The competition features two teams (Traders vs. AI); each participant started with $10,000. - The event has run for 15 days as of toda

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Analysis: Bitcoin on Track for Worst Q4 Performance Since 2018, Market Rebound 'Lackluster'

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Yesterday, the US Ethereum Spot ETF saw a net inflow of $84.6 million, ending seven consecutive days of net outflows.

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