Emmanuel Macron: US Easing Crypto Regulation Could Trigger Financial Turbulence

Last Friday, December 8, the cryptocurrency ETF market saw a notable divergence: Bitcoin (BTC) and Ethereum (ETH)-related products posted large net outflows, while various altcoin ETFs—especially XRP-tied funds—continued to attract institutional capital, signaling a meaningful shift in fund allocations. Mainstream asset outflows were striking: - Bitcoin spot ETFs recorded a single-day net outflow of ~$195 million, one of their weakest weekly performances in recent weeks. - Ethereum ETFs also saw significant net outflows, ending a brief stretch of net inflows earlier that week. Analysts note that macroeconomic uncertainty—particularly pending inflation data—is prompting institutions to temporarily reduce risk exposure rather than fully exit the market. Trading volume for mainstream crypto ETFs has declined, reflecting investors’ wait-and-see stance. In stark contrast to pressure on BTC and ETH, XRP ETFs have posted consecutive weekly net inflows, with cumulative inflows appro

**December 8th Update** HTX DeepThink columnist and HTX Research researcher Chloe notes that as the year winds down, the global macro environment has grown more volatile due to diverging U.S. and Japanese policies—pressuring risk assets including Bitcoin. ### Core Drivers & Contradictory Signals - **U.S. Policy Uncertainty**: While inflation data points to a slowdown and markets are pricing in more rate cuts, news that former Trump advisor Kevin Hassett could take over as Federal Reserve Chair has pushed bond yields higher. - **Japanese Policy Shift**: The Nikkei reports Bank of Japan (BOJ) officials are leaning toward hiking the policy rate to 0.75% at their December 19 meeting—its highest level since 1995—deepening the U.S.-Japan policy divergence. ### Bitcoin Market Performance - **Institutional Positioning**: ETFs have seen net outflows, and futures open interest has declined—signaling institutions are taking a defensive stance. - **Option Market Contradictions**: I

On December 8, data from Coinbob Popular Address Monitoring shows two key addresses—“BTC OG Insider Whale” and “pension-usdt.eth”—opened large ETH long positions today, while the largest BTC short whale on Hyperliquid (dubbed the “Ultimate Short Whale”) partially closed shorts at a profitable level. Here’s a breakdown: - **BTC OG Insider Whale**: Holds a 5x-leveraged ETH long position with a $4.46M (13%) unrealized profit. Average entry: $3,048; liquidation price: $1,801; position size: ~$170M. Added $70M to its position overnight and this morning, now Hyperliquid’s largest ETH long. - **pension-usdt.eth**: Opened a new 2x-leveraged ETH long at 3:00 AM today. Position size: ~$62.55M; average entry: $3,087; unrealized profit: $880K (2.8%); weekly profit: $6.14M. - **Calm Order Opening King**: Over the past two days, its BTC/ZEC/SOL shorts flipped from a $600K unrealized profit to a loss. Current total position: ~$19.09M; total unrealized loss: $930K. Account balance dropped from

Per Coinglass data as of December 8: - If Ethereum (ETH) breaks above $3,200, the total liquidation strength for short positions across major centralized exchanges (CEXs) will hit $746 million. - Conversely, if ETH falls below $3,050, the total liquidation strength for long positions on major CEXs will reach $573 million. BlockBeats Note: Liquidation charts do not show the exact number or value of contracts set to be liquidated. Instead, the bars on these charts represent how significant each liquidation cluster is relative to its neighboring clusters—i.e., "liquidation strength." As such, the chart illustrates the impact level when a target price hits a specific threshold: the taller the "liquidation bar," the more intense the reaction will be due to a liquidity cascade when the price reaches that level.

On December 8th, Binance Alpha is set to launch Midnight (NIGHT) on December 9th. Eligible users can claim the airdrop via the Binance Alpha event page using their Binance Alpha points once trading goes live. More details will be announced soon.

December 8 — The U.S. dollar weakened Thursday (note: if the original doesn’t specify the weekday, use “December 8” directly) as markets await the Federal Reserve’s policy decision later this week. A rate cut is widely expected at the meeting. Deutsche Bank analysts said in a report the Fed may announce its third and final 25-basis-point rate cut of 2025 on Wednesday, with the decision likely not to have unanimous support. The analysts noted Fed Chair Jerome Powell’s press conference and accompanying statement will be critical: “We expect Powell to stress that the bar for further rate cuts in early 2026 is high, signaling a temporary pause in cuts.” ### Notes on American English adjustments: 1. **Conciseness**: Replaced "it is widely expected that this meeting will once again result in a rate cut" with the tighter "A rate cut is widely expected at the meeting" (avoids redundant "once again" as context implies). 2. **Colloquial precision**: Swapped "threshold" for "bar" (a mor