（来源：吴说） 来源：市场资讯 吴说获悉，Wintermute 最新市场更新称，近期加密市场在更有韧性的区间震荡，资金集中回到 BTC 和 ETH，零售与机构均呈偏多但低杠杆配置。BTC 回到约 92,000 美元，总市值约 3.25 万亿美元，虽上周 曾因连环爆仓一小时急跌约 4,000 美元、触发约 20 亿美元爆仓，但市场快速吸收抛压、未延续下行。 期现基差压缩、年末隐含波动偏高，资金在等待美联储议息与宏观明确信号，偏向 Delta 中性与 Carry 策略，而非追逐山寨方向性机会，区间震荡仍是主旋律。 ...

Core Insights - The global cryptocurrency market is experiencing accelerated regulatory measures alongside market risk management, with significant developments in both domestic and international contexts [1][7][10]. Domestic Developments - The Hong Kong Securities and Futures Commission (SFC) plans to expand the product and service scope of licensed virtual asset trading platforms, including the removal of the 12-month track record requirement for professional investors [2][3]. - The People's Bank of China (PBOC) is exploring new cross-border payment solutions using digital RMB, emphasizing compliance and interoperability [4]. - Taiwan is considering Bitcoin as a strategic reserve and plans to draft supportive regulations [5]. - The Ministry of Industry and Information Technology and other departments are encouraging the use of AI and blockchain technologies to enhance consumer experiences [6]. - The PBOC held a meeting to coordinate efforts against virtual currency trading speculation, emphasizing that virtual currencies do not have the same legal status as fiat currencies [6]. International Developments - The U.S. Commodity Futures Trading Commission (CFTC) is expected to allow stablecoins as acceptable collateral in the derivatives market, with policy details anticipated early next year [7][8]. - The U.S. Senate Banking Committee plans to vote on a cryptocurrency market structure bill in December, aiming to clarify regulatory boundaries between the SEC and CFTC [9]. - The European Central Bank warns of cross-border regulatory arbitrage risks associated with stablecoins, calling for a unified global regulatory framework [10]. - The UK tax authority requires cryptocurrency exchanges to collect and report transaction data from UK customers starting January 2026 [11]. Security Incidents and Trends - In November, approximately $172.4 million was lost due to security incidents in the cryptocurrency sector, with phishing scams accounting for the highest percentage of losses [1][26]. - Notable security events include a $113 million loss from a hack on the Balancer protocol and a $36.8 million loss from an attack on Upbit [26][27]. Legal Cases and Enforcement - A court in Zhejiang concluded a case involving over 5 million yuan related to USDT and information network crime [12][13]. - In Hong Kong, police have arrested 16 individuals linked to the JPEX case, with total losses exceeding 1.6 billion HKD [14][15]. - A report on a major Bitcoin theft incident from 2020 suggests involvement by a state-level hacking organization [18][19].

2025 年对全球最大加密货币比特币（BTC-USD）而言，可谓是大起大落的一年，经历了数次创纪录高 点与暴跌，该币种正面临自 2022 年以来首个年度下跌的风险。 全球主要股指今年同样跌宕起伏，受关祱、利率以及潜在人工智能泡沫的担忧冲击市场，股指屡创历史 峰值后又回落。尽管股票年初至今整体呈上涨态势，但比特币与股价的整体相关性在今年显著增强。 加密货币市值排行网站 CoinMarketCap・美元计价 比特币兑美元（BTC-USD）追踪查看报价详情90，539.42 美元下跌 1，164.41 美元（跌幅 - 1.27%）数 据截至协调世界时上午 8 点 30 分，市场处于开盘状态高级图表 分析师表示，随着传统散户和机构投资者涌入加密货币市场，比特币的波动越来越紧跟股市情绪；明 年，其走势或与驱动股市及其他风险资产的因素（如货币政策转向、对人工智能相关股票高估值的担 忧）联系得更为紧密。 加密货币算法交易公司 Wintermute 的交易台策略师贾斯珀・德梅尔称："2025 年的一个持续主题就是加 密货币会对整体股市的动向做出反应。" 周一，比特币价格徘徊在 8.9 万美元左右。 今年早些时候，随着对加密货 ...

Core Insights - Binance has achieved a significant milestone by surpassing 300 million users by December 2025, demonstrating rapid growth compared to traditional internet giants like Facebook and Instagram [1][2] - The company has also made strides in regulatory compliance, receiving authorization from the Financial Services Regulatory Authority (FSRA) in Abu Dhabi, which signifies its adherence to high international standards in governance and consumer protection [2][3] User Growth - Binance's user growth trajectory has accelerated dramatically, taking nearly five years to reach its first 100 million users, 26 months to reach 200 million, and only 17 months to reach 300 million [1] - This growth is indicative of a shift in the Web3 landscape, where Binance has established itself as a leader in user acquisition [1][7] Regulatory Compliance - Binance has actively pursued regulatory approvals, including registration with India's Financial Intelligence Unit and obtaining licenses in Kazakhstan and Brazil, marking its 21st global regulatory milestone [4][5] - The company's compliance efforts are aimed at transitioning from a "disruptor" to a "builder," seeking sustainable growth within existing financial and legal frameworks [6] Security and Trust - Binance has built a robust security framework, with its security team helping recover assets for 7.5 million users and preventing nearly $10 billion in potential fraud losses [8][9] - The company has implemented a proof of reserves system and established a user asset protection fund, providing a safety net of up to $1 billion for users [9] Product Ecosystem - Binance has developed a comprehensive product matrix that includes wealth management, payment solutions, and decentralized finance (DeFi) services, creating a "savings-consumption-investment-exploration" closed loop [10][11] - The platform has processed over $230 billion in payment transactions, demonstrating its utility in real-world applications and helping users save approximately $1.75 billion in cross-border fees [10] Investment and Market Position - Binance secured a $2 billion investment from Abu Dhabi's MGX, marking the largest single investment in a crypto company and symbolizing the convergence of traditional finance and Web3 [11][12] - This investment positions Binance as a next-generation global financial infrastructure, reflecting its growing acceptance among institutional investors [11][12]

数字资产ETP上周净流入7.16亿美元 据CoinShares最新周报数据，截至12月6日当周，数字资产ETP录得7.16亿美元资金净流入，推动管理资产总额升至1800亿美元。资金主要流入美国（4.83 亿美元）、德国（9690万美元）和加拿大（8070万美元）。比特币吸引3.52亿美元，XRP录得2.45亿美元，Chainlink流入5280万美元创历史新高，占其管 理资产54%。做空比特币产品大幅流出，显示市场看空情绪减弱。 2 12月可能是近期加密市场的转折点，大幅上涨几率远大于再次下跌 据CoinDesk报道，K33 Research分析师Vetle Lunde表示，12月可能是近期加密市场的转折点，结构性上涨空间正在形成，比特币目前估值更多地反映市场 恐慌情绪，而非基本面因素，市场大幅上涨的几率远大于再次下跌80%的几率，12月或有大胆建仓良机。K33认为市场对遥远的威胁反应过度，诸如量子 计算风险、Strategy (MSTR) 可能抛售比特币等，然而忽略了近期的强势信号，诸如包括可能允许在401(k)退休账户中使用加密货币，以及美联储转向支持 加密货币。 3 链上货币市场LayerBank完成2 ...

每经AI快讯，12月8日，美股三大指数开盘涨跌不一，道琼斯指数跌0.02%，标普500指数涨0.09%，纳 斯达克综合指数涨0.31%。加密货币概念股普涨，Coinbase、Strategy涨超1%。博通涨近3%。 ...

Market Overview - The Dow Jones Industrial Average decreased by 0.06%, while the S&P 500 index increased by 0.09% and the Nasdaq rose by 0.32% [1] Cryptocurrency Sector - Cryptocurrency-related stocks experienced a general increase, with Coinbase and Strategy both rising over 1% [1] Semiconductor Industry - Broadcom shares rose nearly 3% amid reports that Microsoft is in discussions with Broadcom for a custom chip collaboration [1] Automotive Sector - Rivian shares fell by 2.5% and Tesla shares decreased by 1.7%, following a downgrade in ratings from Morgan Stanley for both companies [1] Retail Sector - Carvana, a used car retailer, saw its shares increase by 9.0%, while CRH shares rose by 6.7% after both companies were added to the S&P 500 index [1] Media and Entertainment - Warner Bros. Discovery shares increased by 5.6% after Paramount made a $30 per share acquisition offer to the company [1] Debt Market - CoreWeave shares dropped by 5.4% as the company plans to issue $2 billion in convertible bonds [1]

12月8日，比特币近期的深度回调让市场情绪急速转弱，但 NCE平台认为，这种情绪面主导的行情正在 与基本面出现显著背离，反而为12月提供了潜在的反转契机。K33 Research 的分析同样显示，尽管市场 恐惧正在加速释放，关键技术区间、杠杆结构和资金定位都指向价格正在接近周期底部，而非新一轮大 幅下跌的开始。NCE平台表示，从历史经验与结构性数据来看，剧烈调整通常伴随着过度悲观，而这正 是机会孕育的阶段。 比特币在经历自上一轮熊市以来最大幅度的修正后，价格一度下探至约 90，680 美元。这一过程中，现 货比特币 ETF 从长期净买入转为 11 月的阶段性净卖出，成为压制价格的关键力量。同时，CME 的期 货交易量降至多年低位，传统机构表现趋于谨慎，价格相对股票资产的疲弱使比特币与纳斯达克的比值 达到自 2024 年末以来的最低水平。尽管如此，NCE平台认为，这些因素多具有短期扰动属性，并非趋 势性恶化的证据。尤其在永续合约市场中，杠杆使用率处于低位，这意味着市场并未出现系统性的过 热，反而体现了谨慎但稳健的持仓结构。 K33 Research 强调，市场正在对远期风险做过度反应，同时忽视了近端的强韧信号。 ...

在全球目光的聚焦下，美国川普政府于近日发布了其最新的《国家安全战略》（NSS）报告。这份纲领性文件旨在勾勒出未来美国在全球舞台上的核心利 益与战略优先事项。然而，令整个加密货币行业感到意外甚至错愕的是，在这份长篇报告中，曾被总统本人多次提及的加密货币与区块链技术，却遭遇了 彻底的"数字沉默"——通篇未被提及。 这种沉默与川普总统本人及其政府此前展现出的"加密货币友好"姿态形成了剧烈反差，不仅在加密社区引发了广泛讨论，更直接导致市场情绪波动，比特 币价格应声下跌。这份战略文件的"留白"究竟意味着什么？是无心之失，还是深思熟虑的战略选择？这背后揭示了华盛顿决策层对于这一新兴领域的真实 看法，以及加密资产在全球宏观经济棋局中所处的微妙位置。 口号与现实 然而，当所有人都期待这些言论和行动会转化为国家顶层战略的一部分时，最新的《国家安全战略》报告却给出了一个沉默的答案。这种言行上的断裂， 不禁让人发问：加密货币在白宫的真实定位，究竟是什么？ 战略新焦点 政策推动：他签署行政命令，撤销了前任政府的部分强硬监管政策，并协助推动了美国首部联邦层面的稳定币监管法案《GENIUS法案》的落地。 机构设立与禁令：成立了"总统数字 ...

Core Points - SocialChain Inc., the company behind Pi Network, is facing a $10 million lawsuit for allegedly orchestrating a fraud scheme involving unauthorized token transfers and secret sales of 2 billion Pi tokens, which led to a significant drop in the token's price from $307.49 to $1.67 [1][4] - The lawsuit was filed on October 24 in the US District Court for the Northern District of California, targeting Pi Network founders Chengdiao Fan and Nicolas Kokkalis, along with SocialChain Inc. [2] - The plaintiff, Harro Moen Moen, claims that 5,137 Pi tokens were transferred from his verified wallet without authorization and that his remaining 1,403 tokens were not migrated to the Pi Network Mainnet [3] - The complaint alleges that despite marketing Pi Network as decentralized, the company maintained centralized control by operating only three validator nodes, and it also raises concerns about Pi being an unregistered security [5] Community Response - The Pi Core Team has not publicly addressed the lawsuit, but the Pi community has challenged several claims made by the plaintiff, suggesting that unauthorized token transfers could be due to compromised login credentials or phishing attempts, rather than wrongdoing by the team [6]