The current mainstream CEX and DEX funding rate display indicates that the market is still bearish

**December 6th Update** Per monitoring from Farside Investors, U.S. Bitcoin spot ETFs posted net inflows of $54.8 million yesterday. Key fund-level data follows: - BlackRock IBIT: Net outflow of $32.5 million - Fidelity FBTC: Net inflow of $27.3 million - Bitwise BITB: Net inflow of $4.9 million - ARK ARKB: Net inflow of $42.8 million - VanEck HODL: Net inflow of $11.4 million - WisdomTree BTCW: Net inflow of $0.9 million Separately, U.S. Ethereum spot ETFs recorded net outflows of $75.2 million yesterday. Only BlackRock’s ETHA ETF has publicly available net flow data for the Ethereum spot ETF category.

On December 6th, Onchain Lens reported that a newly created wallet received 22,676 ETH from BitGo 4 hours ago—with the tokens worth approximately $68.86 million. The address is likely associated with Bitmine.

On December 6, Coinbase Institutional shared a social media update noting that recovery signs are gradually emerging in the market. As liquidity conditions improve, the probability of a Federal Reserve rate cut has surged to 92% (as of December 4). With macro tailwinds continuing to mount, the cryptocurrency market could be gearing up for a December recovery rally. The analysis is rooted in three key observations: - Liquidity is rebounding - The so-called "AI bubble" has yet to burst (and still has upside potential) - Shorting the U.S. dollar is attractive at current levels Coinbase Institutional added that back in October, it forecast a market position adjustment (citing its proprietary M2 index), expecting weakness in November followed by a December reversal. This could mark the starting point for the cryptocurrency market to rebuild momentum.

On December 6, official sources confirm OKX will list Midnight (NIGHT) for spot trading, with the schedule below: - NIGHT Deposits go live: December 6, 2025, 12:00 PM UTC+8 - NIGHT Auction period: December 9, 2025, 5:00 PM – 6:00 PM UTC+8 - NIGHT/USDT Spot trading launches: December 9, 2025, 6:00 PM UTC+8 - NIGHT Withdrawals become available: December 9, 2025, 8:00 PM UTC+8

Dec. 6 – Farside Investors reports U.S.-listed Solana spot ETFs recorded a net inflow of $15.7 million yesterday, with the following breakdown: Bitwise BSOL (+$12.2M); Fidelity FSOL (+$3.5M). ### Notes on U.S. language/formatting habits: 1. **Abbreviation**: "Dec." for "December" (common in quick updates). 2. **Dash structure**: Uses a dash to separate date from content (standard for news alerts). 3. **Active verb**: "reports" (natural for financial monitoring updates, vs. passive "according to"). 4. **Conciseness**: "$15.7M" (million = "M" in U.S. financial shorthand) and "breakdown" (clearer than "including" for itemized data). 5. **Clarity**: Parentheses for inflow labels (avoids clutter, aligns with U.S. financial reporting norms). 6. **Precision**: "U.S.-listed" (specifies the ETFs’ trading location, critical for context).

On Friday, December 6, U.S. cryptocurrency-linked stocks closed lower, per market data. Notable declines included: - Coinbase (COIN): -1.58% - Circle (CRCL): -2.1% - MicroStrategy (MSTR): -3.77% - Bullish (BLSH): -4.07% - Bitmine (BMNR): -6.22% - SharpLink Gaming (SBET): -3.94% - BTCS (BTCS): -2.63% - BNB Network Company (BNC): -5.04% - ALT5 Sigma (ALTS): -9.49% - American Bitcoin (ABTC): -7.85%