BTC falls below the $86000 mark

[Whale pension-usdt.eth closes ETH short position and opens a 1000 BTC long position] Whale pension-usdt.eth closed its ETH short position 1 day ago with a loss of $2.097 million. Early this morning, it opened a BTC long position and gradually increased its holdings to 1000 BTC (valued at $85.658 million). Currently, it has an unrealized loss of $716,000. Over the past week, the whale's total profit is approximately $1.21 million, with total profits on HyperLiquid amounting to around $23.15 million.

[Approximately $23 Billion in Bitcoin Options to Expire Next Friday] Approximately $23 billion in Bitcoin options will expire next Friday, accounting for more than half of the open interest on the largest Bitcoin options platform, Deribit. Market volatility has significantly increased.

[Federal Reserve Reserve Balances Drop to $2.93 Trillion, Hitting Lowest Level Since December 3] As of the week ending December 17, the Federal Reserve's reserve balances dropped to $2.93 trillion, a decrease of $40.1 billion compared to the previous week. This level marks the lowest point since December 3 of this year.

Charles Hoskinson pointed out that the launch of Trump Coin has led to a shift in cryptocurrency from a bipartisan consensus to being seen as synonymous with Trump, bad things, and corruption. （Decrypt）

[David Sacks: Looking forward to completing cryptocurrency market structure legislation in January] David Sacks, the White House's cryptocurrency and artificial intelligence lead, stated on the X platform that the legislation for cryptocurrency market structure is 'closer than ever' to being passed and is looking forward to completing this work in January.