[U.S. Senate to Question Trump’s Nominee for CFTC Chair Michael Selig] The U.S. Senate plans to question Michael Selig, the Commodity Futures Trading Commission (CFTC) chair nominee appointed by President Trump, on Wednesday. The focus will be on topics such as cryptocurrency regulation and election prediction markets. Selig is currently the Chief Legal Advisor for the Securities and Exchange Commission (SEC) Cryptocurrency Special Task Force and previously served as an advisor to Republican SEC Chair Paul Atkins, who was appointed by Trump. The questioning is expected to cover the CLARITY Act, a bill that, if passed, would grant the CFTC greater authority in regulating the cryptocurrency industry. Additionally, Selig will be asked about the collaboration between the CFTC and SEC, as well as regulatory plans for markets allowing Americans to bet on election outcomes. Currently, the CFTC is led by its sole Republican commissioner, Caroline Pham, who has stated she will step down after the new chair is confirmed.

[Analyst Says Bitcoin at a Critical Juncture, Macro Surprises Could Trigger Volatility] BRN Research Director Timothy Misir stated that Bitcoin is at a critical juncture, with long-term holders increasing their exposure while short-term buyers continue to incur losses. Recently, approximately 31,800 Bitcoins were transferred to exchanges in a loss state, and the number of wallets holding more than 1,000 Bitcoins grew by 2.2%, marking the fastest growth rate in four months. Misir pointed out that ETF outflows and insufficient institutional absorption of BTC and ETH have intensified market deleveraging shocks, leaving Bitcoin stuck in the approximately $9,000 range. The market is highly sensitive to scenarios of rate cuts or delays, and any macro surprises could trigger significant volatility.

[10,113 Bitcoins Transferred from BitMEX to Unknown Wallet] According to Whale Alert data monitoring, 10,113 Bitcoins (valued at $926,494,336) have been transferred out of the BitMEX exchange and moved to an unknown wallet address.

[Bitcoin Price Remains Above $90,000, Retail Selling Intensifies] Bitcoin's price currently remains above $90,000, with retail selling, ETF outflows, and downward hedging pressure affecting market structure. Analysis shows that short-term holders and Wall Street investors are selling heavily, while long-term holders are steadily increasing their positions. BRN Research Director Timothy Misir pointed out that Bitcoin is at a critical stage, with approximately 31,800 Bitcoins recently transferred to exchanges at a loss, and the number of wallets holding over 1,000 Bitcoins has increased by 2.2%, marking the highest growth rate in four months.

Bitcoin has held the low-$90,000 area as retail selling accelerates while whale buyers accumulate, according to BRN Research.Derive.xyz data show increased hedging, and options markets now assign a 50% probability that BTC ends the year below $90,000.Market structure has shifted firmly into a short-term reset, but not a full cycle breakdown, per 21Shares’ latest cycle update.