Last week, funds have flowed into #Bitcoin, #Ethereum, and #Hyperliquid.

On-chain analyst Ai Yi (@ai_9684xtpa) noted on December 6th that 17 hours prior, the second-largest ETH long position holder on Hyperliquid closed a nearly four-day-old position, securing $1.285 million in profits—significantly down from the $5.3 million peak unrealized gain it had accumulated. After locking in that profit, the whale opened two more ETH long positions, both of which resulted in losses, erasing nearly $230,000 of the earlier gains. Overall, the whale’s three ETH long positions generated a cumulative profit of $1.055 million.

On December 6th, on-chain analyst Ai Auntie (@ai_9684xtpa) reported that the whale address "0xDE3...ddFCc" spent 8 million USDT over the past hour to acquire 2,640 ETH, at an average price of $3,027.33. This marks the address’s first-ever ETH purchase.

On December 6, KobeissiLetter released data showing U.S. leading economic indicators continue to deteriorate. The ratio of leading to coincident economic indicators has dropped to 0.85 — the lowest level since 2008 — and has declined for four consecutive years. The Conference Board’s Leading Economic Index (LEI) tracks forward-looking metrics including consumer expectations, manufacturing new orders, average weekly hours worked, and initial jobless claims, among others. The Coincident Economic Index (CEI), meanwhile, provides a real-time read on current economic conditions, such as nonfarm payroll employment. Historically, the U.S. economy has been in recession whenever this ratio has seen such a sharp decline.

On December 6, on-chain data analyst Murphy noted that the short-term Behavior-Weighted Trend Signal (BWTS) can identify true hodler sell-offs and trend surrender behavior. The indicator accounts for both whether investors are selling BTC at a loss and measures "held-for-a-period" forced capitulation chips. Historical data shows that when the BWTS (red line) and BTC price (black line) diverge, it signals a gradual clearing of panic selling—often leading to a rebound or reversal. After the May 2022 Luna flash crash, the previously near-zero BWTS diverged sharply again, breaking the prior divergence pattern; the rebound did not turn into a reversal, instead leading to a deeper bear phase. Currently, the BWTS pattern resembles past setups, indicating potential conditions for a rebound. The rebound is not considered over until this divergence breaks.

OKX is set to list NIGHT (Midnight) spot trading, with the NIGHT/USDT spot pair scheduled to go live on December 9, 2025 at 18:00 UTC+8.

December 6th — Per the Securities Times, at the 8th Member Conference of the China Securities Association, Wu Qing, Chairman of the China Securities Regulatory Commission (CSRC), stated that financial technology innovation is booming, profoundly transforming and reshaping the financial market ecosystem. Industry institutions should embrace, adapt to, and actively drive change: conduct in-depth research, explore steadily, and push deployment and application of technologies like artificial intelligence (AI), big data, and blockchain in the capital market. The CSRC will collaborate with industry associations to advance the securities industry’s innovation pilot program mechanism, expand regulatory sandbox and other application scenarios, and strengthen monitoring, supervision, and risk response for financial innovation activities.