According to glassnode on X on Dec 12, 2025, the Federal Reserve delivered the expected rate cut while the pace of future cuts remains uncertain, and the market reaction is visible through volatility, skew, and options flow. According to glassnode, traders should read the move by tracking changes in implied volatility, shifts in skew that reflect demand for downside versus upside protection, and options flow that reveals positioning and hedging across crypto derivatives. According to glassnode, these derivatives metrics provide the fastest signal of how macro policy is being repriced in the crypto market and can guide short-term risk management and entries.

According to @EmberCN, a whale who initially opened ETH longs with USD 120 million has increased the ETH long to 140,000 ETH, and the price did not continue to drop (source: @EmberCN on X, Dec 12, 2025). According to @EmberCN, three hours ago the same address deposited 110 million USDC to Hyperliquid and added new long positions in BTC and SOL (source: @EmberCN on X, Dec 12, 2025). According to @EmberCN, the trader is now using roughly USD 230 million in capital to hold about USD 555 million of long exposure on Hyperliquid at an estimated 2.3x low leverage (source: @EmberCN on X, Dec 12, 2025).

According to @BitMEXResearch, a new long read by @izakaminska at The Blind Spot recounts how crypto's hottest derivative came to be and is recommended for traders to review, highlighting its market significance. source: BitMEX Research on X Dec 11 2025; The Blind Spot by Izabella Kaminska the-blindspot.com For trading context, the product in focus is the BTC perpetual swap, a no-expiry futures contract pioneered by BitMEX in 2016 that introduced funding rate payments to keep the contract aligned with spot prices. source: BitMEX Blog The Perpetual Contract 2016 blog.bitmex.com; BitMEX Docs Perpetual Contracts bitmex.com Actionable signal 1: sustained positive funding typically reflects crowded longs and potential mean-reversion risk, while negative funding signals short crowding; monitoring funding and open interest can help time entries and hedges in BTC perps. source: BitMEX Docs Funding Rate bitmex.com; Binance Futures Education funding rate guide binance.com Actionable signal 2: high available leverage in perps has historically amplified liquidation cascades, so traders should track liquidation metrics, insurance fund levels, and auto-deleveraging indicators during volatility. source: BitMEX Docs Leverage and Liquidation bitmex.com; BitMEX Insurance Fund resources bitmex.com

According to @OnchainLens, a newly created wallet deposited $1.67M USDC into HyperLiquid and opened an ETH long position with 3x leverage, indicating fresh leveraged exposure on a decentralized perpetuals venue; source: @OnchainLens on X, Dec 11, 2025. For sizing context, using the reported $1.67M deposit, the maximum theoretical notional at 3x leverage would be roughly $5.01M if the full collateral were deployed, which traders can use to benchmark potential order size and risk; figures source: @OnchainLens, calculation based on reported deposit and leverage. Traders can monitor live position updates for this wallet via HyperTracker to track fills and risk in real time; source: app.coinmarketman.com/hypertracker/wallet/0x310a61ada99f2267949b45ca90ad75660dae350c. No entry price, exact position notional, or liquidation levels were disclosed in the source, so risk parameters should be inferred cautiously from the available on-chain alert; source: @OnchainLens.

According to @KobeissiLetter, Bitcoin fell below $90,000 and is down over 5% as levered long liquidations resumed, source: @KobeissiLetter on X, Dec 11, 2025. According to @KobeissiLetter, about $250 million of levered BTC long positions were liquidated over the last 4 hours, indicating acute deleveraging pressure in the derivatives market during that window, source: @KobeissiLetter on X, Dec 11, 2025.

According to Lookonchain, the trader known as BitcoinOG (1011short) has expanded his ETH long to 120,094 ETH valued at $392.5M, as reported by Lookonchain on X and evidenced by the linked Hyperdash trader page. According to Lookonchain on X, the position’s liquidation price is $2,234.69. The Hyperdash trader page referenced by Lookonchain corroborates the position size and provides ongoing updates. For traders, the $2,234.69 level is the key liquidation threshold for this account, per Lookonchain on X.

According to @EleanorTerrett, CFTC Acting Chair Caroline D. Pham has named 12 exchange CEOs to the new CFTC CEO Innovation Council to address derivatives market structure. Source: Eleanor Terrett on X, Dec 10, 2025. Selected leaders include executives from Cboe, CME Group, Nasdaq, ICE, LSEG, Kraken, Gemini, Crypto.com, Bullish, Bitnomial, Kalshi, and Polymarket. Source: Eleanor Terrett on X, Dec 10, 2025. The council will advise on tokenization, perpetuals, prediction markets, 24/7 trading, and blockchain-based market infrastructure. Source: Eleanor Terrett on X, Dec 10, 2025.

According to @QCPgroup, crypto derivatives still show hesitation, keeping the market in a holding pattern while positioning remains light and liquidity thin into year end (source: QCPgroup on X, Dec 10, 2025).

According to @phantom, new perpetual futures markets went live in Phantom between Dec 2 and Dec 8, 2025 (source: Phantom on X, Dec 9, 2025). This confirms additional perps listings became available for execution inside the Phantom interface during that week, expanding the platform's tradable derivatives set for active traders (source: Phantom on X, Dec 9, 2025). The announcement did not specify individual pairs in the note shared, indicating traders should reference Phantom's in-app markets list for full details during the 12/2–12/8 launch window (source: Phantom on X, Dec 9, 2025).

According to @phantom, Phantom Perps are not available in all regions. source: Phantom on X, Dec 8, 2025. According to @phantom, trading perpetual contracts carries significant risk and may be unsuitable for some users. source: Phantom on X, Dec 8, 2025. According to @phantom, tokens from launchpads and newly listed assets can be highly volatile and speculative. source: Phantom on X, Dec 8, 2025.

According to @iampaulgrewal, the U.S. Commodity Futures Trading Commission has published Press Release 9146-25 at cftc.gov/PressRoom/PressReleases/9146-25. Source: @iampaulgrewal on X (twitter.com/paulgrewal/status/1998148717652677092); U.S. CFTC (cftc.gov/PressRoom/PressReleases/9146-25). The post shares only the official link and does not include policy or enforcement details, so traders should review the CFTC release directly before adjusting crypto derivatives exposure, margin, or compliance workflows. Source: @iampaulgrewal on X (tweet contains link only); U.S. CFTC (cftc.gov/PressRoom/PressReleases/9146-25).

According to @GracyBitget, at a weekend alumni event a participant said they use Bitget to trade both crypto and U.S. stock contracts, demonstrating real-world usage beyond crypto-native circles (source: @GracyBitget on X, Dec 8, 2025). For traders, the post confirms Bitget supports crypto and U.S. stock contract trading and promotes a clear, easy trading experience, inviting new users to try the platform (source: @GracyBitget on X, Dec 8, 2025).

According to @EmberCN, a whale moved 70 million USDC into Hyperliquid and opened a long position worth 166 million USD in Ethereum totaling 54,000 ETH at an average entry price of 3,048, source: @EmberCN and hyperbot.network. According to @EmberCN, the position’s current unrealized profit is approximately 0.91 million USD at the time of reporting, source: @EmberCN and hyperbot.network. According to @EmberCN, the trader address and real-time position details can be monitored on the Hyperliquid analytics page on hyperbot.network, source: @EmberCN and hyperbot.network.

According to @bubblemaps, a tracked ETH long position expanded to $120M with $20M margin left, based on their X post on Dec 7, 2025, source: Bubblemaps on X. According to @bubblemaps, an earlier update the same day said the 'infamous BTC shorter' opened a $42M long on ETH, source: Bubblemaps on X. According to @bubblemaps, the posts did not disclose the exchange, entry price, or liquidation level, source: Bubblemaps on X.

According to @ai_9684xtpa, an additional $30 million in margin was deposited into the trading account on Dec 7, 2025 (source: @ai_9684xtpa on X). According to @ai_9684xtpa, the account now holds a position of 38,988 ETH valued at approximately $120 million (source: @ai_9684xtpa on X). According to @ai_9684xtpa, the unrealized profit on this ETH position stands at about $2.9 million (source: @ai_9684xtpa on X). According to @ai_9684xtpa, there are pending orders totaling $47.27 million still on the book (source: @ai_9684xtpa on X). According to @ai_9684xtpa, this is the most aggressive order activity observed since the 10/11 flash crash (source: @ai_9684xtpa on X).

According to @CoinMarketCap, Ethereum-based perpetuals DEX Lighter is launching spot trading starting with ETH, expanding beyond its core perps business. According to @CoinMarketCap, the platform recorded 292.5 billion dollars in trading volume in November.

According to The Kobeissi Letter, Bitcoin (BTC) fell back below 90,000 USD as crypto liquidations resumed, with about 200 million USD in leveraged positions wiped out over the last 4 hours; source: The Kobeissi Letter.

According to @glassnode, Bitcoin (BTC) options open interest is dominated by calls even as spot BTC trades quietly, indicating call-leaning positioning; source: @glassnode on X, Dec 5, 2025, https://twitter.com/glassnode/status/1996950113126625642 and data: https://glassno.de/49UDOSD. The put-call ratio has dropped sharply over the past two weeks, signaling traders still want exposure to a potential year-end upside move; source: @glassnode on X, Dec 5, 2025, https://twitter.com/glassnode/status/1996950113126625642 and data: https://glassno.de/49UDOSD.

According to @glassnode, the net call premium at the $95K call strike has been gradually declining across short- and mid-term maturities over recent days, indicating a clear absence of market strength that traders should factor into BTC options positioning (source: Glassnode via X on Dec 5, 2025; glassno.de/4pMeYZF).

According to @ai_9684xtpa, Binance Futures’ Smart Money all-time PnL leaderboard has a new first place as user 0xPickleCati opened real trading visibility, taking the top spot by cumulative profits; source: X post by @ai_9684xtpa. The Binance Smart Money profile for 0xPickleCati shows an all-time cumulative PnL of $45.46 million and the No.1 rank under rankingType=PNL and timeRange=ALL; source: https://www.binance.com/zh-CN/smart-money/profile/4814568371709014273?rankingType=PNL&timeRange=ALL. The profile currently does not display open positions or detailed trade history, limiting direct strategy replication; source: https://www.binance.com/zh-CN/smart-money/profile/4814568371709014273?rankingType=PNL&timeRange=ALL. The PnL curve shows pronounced growth during Jan–Apr 2024 and Oct–Nov 2024, aligning with the author’s observation of sharp gains in those periods; source: X post by @ai_9684xtpa and the referenced Binance Smart Money profile.