Core Insights - The cryptocurrency market is experiencing a strong structural breakthrough, with Bitcoin successfully surpassing $96,240, marking a two-month high. This surge is primarily driven by a concentrated short position covering, triggered by Bitcoin breaking through the critical resistance level of $94,500, which had previously failed three times [1][2][4] Market Dynamics - Over the past four hours, the total liquidation amount in the futures market exceeded $500 million, which has not only cleansed market leverage but also provided momentum for subsequent upward movements [1][2] - The Bitcoin futures open interest has decreased from $31.5 billion to $30.6 billion, indicating a rapid covering of short positions in the derivatives market, while the spot market shows strong buying interest [3][4] Altcoin Performance - The altcoin market has seen a collective surge, with tokens like DASH reaching 2021 highs and others such as OP and TIA experiencing double-digit percentage increases, signaling a departure from the previous deep correction phase and a notable recovery in traders' risk appetite [3][4] Valuation Recovery - The recent market rally is largely attributed to a valuation correction following a period of extreme "overselling." The "Fear and Greed Index" for the crypto market has lingered in the extreme fear zone, which often signals potential reversal opportunities [2][4] - Bitcoin's market share has decreased from 59.3% to 58.6%, indicating a shift of capital from a single asset to a more diversified ecosystem, reflecting an increase in market health [2][4] Short-term Outlook - The $94,500 level has transitioned from a resistance to a new key support level. If this level can be effectively retested and held, Bitcoin's next target will be $99,000, which has served as a significant support level from June to November of the previous year [2][4] - If the market fails to maintain the $94,500 level, it may undergo deeper consolidation within the range of $85,000 to $94,500 [2][4]

Market Overview - Bitcoin briefly reached a two-month high of $96,240, with significant trading activity in altcoins [1] - Over $500 million in futures positions were liquidated as Bitcoin broke the key level of $94,500 for the first time since November [1] Futures and Open Interest - Open interest for Bitcoin futures is currently at $30.6 billion, down from a high of $31.5 billion, indicating aggressive buying in spot markets and traders covering shorts [2] Altcoin Performance - Privacy coin DASH rose to its highest point since 2021, signaling confidence among traders and leading to widespread gains in altcoins [3] - Optimism (OP) increased by 18.5%, while TIA and PENGU rose by 14% over a 24-hour period, reflecting renewed trader optimism [3] Bitcoin Dominance and Index Performance - Bitcoin dominance decreased from 59.3% on December 24 to 58.6%, as several altcoins outperformed Bitcoin [4] - The CoinDesk 80 Index (CD80) is up by 8% day-to-date, while the CoinDesk 20 (CD20) is up by 6.35% [4] Market Sentiment and Trends - The market has rebounded despite a lack of bullish catalysts, as traders have shifted sentiment following a significant liquidation event in October [5] - Traders have moved away from crypto to precious metals and AI stocks, indicating a shift in investment focus [6] Short-term Outlook - In the short term, Bitcoin is expected to re-test the $94,500 level as a new floor, with a potential rise to $99,000 as the next key resistance level [7] - A failure to maintain the $94,500 level could lead to Bitcoin falling between $85,000 and $94,500 [7]

Staking Program Details - TIA Flash Rewards program offers high rewards for staking TIA [1] - Up to 10,900 TIA can be allocated per participant [1] - The program offers a 15% per annum (p.a.) reward [1] - A 14-day lockup period is required for staked TIA [1] - The program is limited to the first 217,800 TIA worth of allocations [1] Program Timeline - The program runs from December 25, 2025, to January 8, 2026 [1]

Core Insights - Bitwise has launched the Bitwise Celestia Staking ETP (Ticker TIAB) on Euronext Paris, providing exchange-traded exposure to TIA, the native token of the Celestia blockchain, while allowing investors to earn staking rewards without managing the technical aspects of staking [1][4] Product Overview - The Bitwise Celestia Staking ETP aims to deliver efficient staking returns with a target net staking reward of 7.54% and a total expense ratio (TER) of 0.85% per annum [8] - The ETP is fully backed by TIA tokens held in cold storage custody, allowing investors to buy and sell it like stocks or ETFs without needing a new account or crypto wallet [4][8] - Staking rewards accumulate daily, increasing the cryptocurrency entitlement per ETP unit over time, and the issuer retains 33% of the total staking rewards generated as a Staking Service Fee [8] Market Context - Celestia is positioned as a leader in modular blockchains, designed for high data throughput and low costs, with significant growth in the usage of its "namespaces" over the past year, reflecting a fivefold increase [2] - The demand for staking products is rising, as evidenced by the Bitwise Solana Staking ETP surpassing $100 million in invested assets and the Bitwise Ethereum Staking ETP crossing the $300 million threshold [3] Strategic Positioning - Bitwise's Head of Europe highlighted the relevance of the Celestia Staking ETP in their product suite, emphasizing Celestia's modular approach and its potential to attract new users [3] - The modular architecture of Celestia is designed to support high-performance applications, enabling faster market entry and scalability compared to traditional monolithic Layer 1 blockchains [5] Company Background - Bitwise is a leading crypto specialist asset manager with over $15 billion in client assets, providing a broad suite of index and active solutions across ETPs and other investment vehicles [11] - The company has developed an extensive suite of crypto ETPs in Europe, including the most traded bitcoin ETP and the first diversified Crypto Basket ETP [12]

Star Projects of MEXC’s 0 Trading Fee Fest (Oct 14, 2025)!🏆 Top 3 Gainers:🏅 $ENA | @ethena_labs🥈 $TIA | @CelestiaOrg🥉 $CAKE | @PancakeSwapNo trading fees, just pure gains!#MEXC0Fee ...

Crypto Market Crash - The crypto market experienced a significant crash, with several cryptocurrencies experiencing substantial losses in the last 24 hours [1] - $DEXE experienced a 70% decrease [1] - $KAVA experienced a 68% decrease [1] - $IOTX experienced a 68% decrease [1] - $MYX experienced a 62% decrease [1] - $NEIRO experienced a 62% decrease [1] - $LUNC experienced a 61% decrease [1] - $TIA experienced a 59% decrease [1] - $SSV experienced a 29% decrease [1] - $FRAX experienced a 57% decrease [1] - $KAIA experienced a 56% decrease [1] - $DOG experienced a 55% decrease [1]

Market Crash - Crypto market experienced one of the biggest crashes in 5 years [1] - The last 24 hours saw the worst performing cryptocurrencies [1] Significantly Affected Cryptocurrencies - $DEXE experienced a 70% decrease [1] - $KAVA and $IOTX both experienced a 68% decrease [1] - $MYX and $NEIRO both experienced a 62% decrease [1] - $LUNC experienced a 61% decrease [1] - $TIA and $SSV both experienced a 59% decrease [1] - $FRAX experienced a 57% decrease [1] - $KAIA experienced a 56% decrease [1] - $DOG experienced a 55% decrease [1]

Market Crash - Crypto market experienced a significant crash within 24 hours [1] - Several cryptocurrencies experienced substantial losses, with some declining by over 50% [1] Worst Performing Cryptocurrencies - $DEXE declined by 70% [1] - $KAVA declined by 68% [1] - $IOTX declined by 68% [1] - $MYX declined by 62% [1] - $NEIRO declined by 62% [1] - $LUNC declined by 61% [1] - $TIA declined by 59% [1] - $SSV declined by 59% [1] - $FRAX declined by 57% [1] - $KAIA declined by 56% [1] - $DOG declined by 55% [1]

Core Viewpoint - The company Jinzi Ham (002515.SZ) plans to invest up to 300 million RMB in Zhongsheng Microelectronics (Hangzhou) Co., Ltd. to acquire up to 20% equity, recognizing the potential of the AI industry and the optical communication market [1][2] Group 1: Investment Details - The investment will be made through capital increase and expansion, with a focus on the optical communication chip sector [1] - The target company specializes in the R&D and design of high-speed optical module core chips for 400G/800G/1.6T and above, with applications in AI, cloud computing, and telecommunications [1] - The target company has a world-class design team with over 20 years of experience in high-speed module chip development [1] Group 2: Financial Considerations - The target company is currently not profitable, and its future profitability remains uncertain [2] - The first round of investment will be based on a pre-investment valuation of 1 billion to 1.3 billion RMB, with a potential appreciation rate of 9710% if calculated at the lower valuation [2] - The investment aligns with the company's overall development strategy and aims to utilize idle funds more efficiently in the context of the digital economy [2]

Token Unlocks Overview - Over the next 7 days, major token unlocks (each exceeding $5 million) are scheduled for ENS, IMX, and ELX [1] - Linear daily unlocks exceeding $1 million are expected for SOL, WLD, TIA, DOGE, TAO, AVAX, SUI, DOT, IP, MORPHO, ETHFI, JTO, and others [1] - The total estimated value of these unlocks exceeds $453 million [1]