Huoxun Finance reported on December 21st that analyst Murphy, analyzing on the X platform, observed signs of sentiment recovery in on-chain data. The red area in the chart below represents the number of addresses that switched from "holding BTC" to "completely liquidating" in the past 30 days. This means addresses whose account balances were greater than zero 30 days ago but have now been liquidated. It reflects investors' behavior of choosing to completely exit their holdings under the dual pressure of price and time. The number of addresses liquidating BTC surged from November 13th to 25th. This period also coincided with the fastest and largest drop in BTC price, reflecting the panic and pessimism in market sentiment behind the large number of liquidations. However, during the subsequent period from December 1st to 18th, as BTC repeatedly tested the bottom, the number of liquidated addresses began to decrease.

According to a report by Decrypt on December 21st, a new price model proposed by Kraken's CFBenchmarks analysts Gabriel Selby and Mark Pilipczuk suggests that Bitcoin will account for approximately 33% of gold's market capitalization, with an expected annualized return of 30.1%, reaching a price of $1.4 million by 2035. The report points out that as institutional participation deepens, volatility is likely to continue to decrease, while Bitcoin's dependence on currency devaluation keeps its correlation with most major asset classes consistently low, thus enhancing portfolio diversification. Furthermore, increased regulatory transparency, greater institutional acceptance, and improved liquidity will enhance Bitcoin's investment value. Renowned tech investor Cathie Wood previously predicted that Bitcoin would reach $1.2 million by 2030, but due to the rapid adoption of stablecoins, this target is 20% lower than her previous forecast of $1.5 million.

Huoxun Finance News, December 21st - According to an official announcement, BinanceWallet stated that Bitway's (BTW) Pre-TGE will take place on December 22nd from 16:00 to 18:00 (UTC+8). Eligible users can participate in this Pre-TGE event through the Alpha event page. Participation will consume 15 points. The Pre-TGE event reward tokens have a lock-up period stipulated by the project team. During the lock-up period, the tokens cannot be traded, transferred, or used. The project team may not disclose the unlocking time in advance.

Odaily Planet Daily reports that the cryptocurrency industry expressed regret over the announcement by pro-cryptocurrency U.S. Senator Cynthia Lummis that she will not seek re-election in 2026. Lummis stated that while she is a devout legislator, she feels she lacks the energy to sustain another six-year term. Collin McCune, head of government affairs at a16z, commented that the crypto industry would not be where it is today without Lummis's efforts in Congress. David Sacks, White House AI and Cryptocurrency Director, praised her as a great ally in the crypto space. Previously, Lummis had strongly advocated for the Responsible Finance Innovation Act and the American Clarity Act, aiming to provide regulatory clarity for digital assets. Kyle Samani, managing partner at Multicoin, stated that although Lummis has decided to leave office, policy-making is not yet complete, and legislation still needs to be passed in 2026.

According to Murphy's monitoring, on-chain data shows signs of market sentiment recovery. Between November 13th and November 25th, the number of addresses switching from holding BTC to completely liquidating their positions surged. During this period, the price of BTC fell rapidly and significantly, reflecting market panic and pessimism. Subsequently, during the repeated bottoming-out of BTC from December 1st to December 18th, the number of liquidating addresses began to decrease. This phenomenon aligns with bullish behavior and sentiment changes in the futures market. In the past 30 days, liquidating addresses are defined as addresses with an account balance greater than zero 30 days ago but which have now cleared their positions, reflecting investors' complete exit from holdings under price and time pressure.