According to @KobeissiLetter, BTC fell below $88,000 as roughly $60 million in leveraged longs were liquidated within 30 minutes, while a U.S. government shutdown is now expected and President Trump threatened 100% tariffs on Canada; U.S. equity futures open in less than seven hours, per the same source. Given these catalysts reported by @KobeissiLetter, traders should expect elevated volatility and possible spillover into crypto derivatives and equities, monitor liquidity and funding into the futures open, and consider hedging or reducing leverage around event-driven moves.

According to Glassnode, the options volume put call ratio fell from 1 to 0.4, signaling strong call flow in crypto derivatives. According to Glassnode, the key issue for traders is how short dated the call demand was, rather than whether calls were bought. According to Glassnode, understanding the tenor of this call activity is crucial for assessing how concentrated the flow is around near expiries and its potential impact on positioning dynamics.

According to glassnode, conviction fades further out on the curve as the 3M 25D skew shifted by less than 1.5% and remained firmly in put territory, continuing to price asymmetric downside despite near-dated call demand (source: glassnode). glassnode added that the persistent put-side skew indicates longer-tenor options still reflect downside protection even as short-dated upside interest appears (source: glassnode).

According to @glassnode, at-the-money implied volatility was sold as price moved higher, showing gamma sellers monetized the rally and dampened follow-through, source: @glassnode, glassno.de/3Zqm3UD. @glassnode notes this volatility profile is not typical of sustained breakouts, indicating limited continuation quality for the current move, source: @glassnode. Traders chasing continuation setups should treat the breakout as fragile until volatility dynamics turn supportive, source: @glassnode.

According to @EleanorTerrett, she will moderate a live discussion with SEC Chair @SECPaulSAtkins and CFTC Chair @ChairmanSelig on the agencies' crypto harmonization plans at 10 AM next Tuesday on the CFTC website (Source: @EleanorTerrett on X). For traders, coordinated SEC-CFTC messaging can shape expectations around spot crypto oversight, exchange compliance, derivatives supervision, custody requirements, and stablecoin treatment, so the livestream is important to monitor for any regulatory signals affecting BTC and ETH trading (Source: @EleanorTerrett on X).

According to @EleanorTerrett, the Senate Agriculture Committee released a new crypto market structure draft, Chairman John Boozman said a deal with Democrats was not reached, and a committee markup is scheduled for Tuesday at 3 PM ET. Source: @EleanorTerrett. The committee oversees the Commodity Futures Trading Commission, placing the draft at the center of potential U.S. oversight for digital assets and derivatives trading. Source: U.S. Senate Committee on Agriculture, Nutrition, and Forestry; CFTC. A committee markup is the formal session where members debate and amend a bill before a committee vote. Source: U.S. Senate.

According to @BullTheoryio, Bitcoin (BTC) first rallied from 88k to 90.5k, triggering roughly $80 million in short liquidations, then reversed to 87.3k with about $144 million in long liquidations, before rebounding to 90.5k following a headline that Trump canceled tariffs on the EU. According to @BullTheoryio, this rapid two-way sweep highlights aggressive leverage and derivatives-driven whipsaw risk for BTC traders, with both longs and shorts liquidated in quick succession.

According to @KobeissiLetter, Bitcoin fell by about $2,000 within minutes as roughly $360 million in leveraged long positions were liquidated over the last hour, with BTC dropping back below $87,000 and down 9% over 48 hours (source: @KobeissiLetter).

According to @OnchainLens, the "255 BTC sold" whale has expanded leveraged short positions to a combined 109 million dollars across BTC at 10x and ETH at 15x, holding 751.38 BTC valued at 68.67 million dollars and 12,909.15 ETH valued at 40.79 million dollars, with an unrealized loss exceeding 1.8 million dollars (source: Onchain Lens on X; CoinMarketMan HyperTracker wallet 0x94d3735543ecb3d339064151118644501c933814). @OnchainLens also reported the same wallet’s short book was just over 50 million dollars earlier before scaling to 109 million dollars, indicating rapid position growth in a single wallet’s concentrated short exposure (source: Onchain Lens on X).

According to @dydxfoundation, dYdX Governance approved a BONK integration that enables a community-aligned derivatives deployment powered by dYdX, with 50% of fees flowing to the BONK DAO (source: dYdX Foundation on X, Dec 29, 2025). The same source stated that distribution remains a key theme, highlighting the fee-sharing structure for BONK ecosystem participants (source: dYdX Foundation on X, Dec 29, 2025).

According to @CoinMarketCap, former FTX US president Brett Harrison secured $35 million for Architect to build an institutional trading platform spanning derivatives, equities, futures, and digital assets (source: @CoinMarketCap on X, Dec 25, 2025). The update states the product targets institutional workflows across multiple asset classes but does not disclose investors, a timeline, or a launch date (source: @CoinMarketCap on X, Dec 25, 2025).

According to @simplykashif, a 2025 exchange benchmark reviewed 81 crypto exchanges across more than 100 metrics and indicates stronger regulation and transparency across the industry; source: @simplykashif on X, Dec 23, 2025. According to @simplykashif, Binance received an AA rating and ranked number one in both spot and derivatives in the review; source: @simplykashif on X, Dec 23, 2025. According to @simplykashif, licensing, proof of reserves, and security standards are improving globally, providing traders with venue selection signals for BTC and ETH execution and margin management; source: @simplykashif on X, Dec 23, 2025.

According to @OnchainLens, a whale bought 3,650 ETH worth $10.35M on HyperLiquid and Lighter and simultaneously opened ETH short positions with 20x leverage on both platforms (source: @OnchainLens; CoinMarketMan Hypertracker; LighterPulse). The stated totals imply an average acquisition price near $2,836 per ETH, while the short entries and exact size were not disclosed but can be tracked via the linked dashboards (source: @OnchainLens; CoinMarketMan Hypertracker; LighterPulse). Traders can monitor the wallet and position updates on CoinMarketMan Hypertracker and LighterPulse to track the whale’s ETH short exposure and risk dynamics (source: CoinMarketMan Hypertracker; LighterPulse).

According to @EmberCN, a large crypto whale added 12,405 ETH to long positions about 30 minutes prior to the post, an estimated $35.33M increase based on the stated figures, implying an add price near $2,848 per ETH; source: @EmberCN. The whale’s ETH long stack now totals 203,000 ETH valued at approximately $578M, reflecting concentrated ETH derivatives exposure; source: @EmberCN. The whale’s total long book across ETH, BTC, and SOL is $695M with an unrealized loss of $70.1M, roughly a 10% drawdown on the book; source: @EmberCN.

According to @ai_9684xtpa, the on-chain tracked trader dubbed 1011 flash-crash short now shows aggregate unrealized losses above $74.37M; source: X post Dec 18, 2025 https://x.com/ai_9684xtpa/status/2001465579627266157 and Hyperbot Network trader page https://hyperbot.network/trader/0xb317d2bc2d3d2df5fa441b5bae0ab9d8b07283ae. According to @ai_9684xtpa, ETH-specific unrealized loss is $65.44M, and the ETH position’s stated liquidation price is $2,084.42 with 739.17 of price room remaining; source: X post Dec 18, 2025 https://x.com/ai_9684xtpa/status/2001465579627266157 and Hyperbot Network trader page https://hyperbot.network/trader/0xb317d2bc2d3d2df5fa441b5bae0ab9d8b07283ae. According to @ai_9684xtpa, earlier the same wallet’s drawdown first reached $51.43M with ROI at -39.24% and margin usage at 73.46%; source: X post https://x.com/ai_9684xtpa/status/2000744060139762130 and Hyperbot Network trader page https://hyperbot.network/trader/0xb317d2bc2d3d2df5fa441b5bae0ab9d8b07283ae. According to @ai_9684xtpa, these published metrics such as liquidation level and margin utilization offer reference points traders monitor for ETH short risk management; source: Hyperbot Network trader metrics page https://hyperbot.network/trader/0xb317d2bc2d3d2df5fa441b5bae0ab9d8b07283ae.

According to @ai_9684xtpa, an address labeled 1011 flash-crash short insider holds a 70,001.53 ETH long with an average entry of $3,068.64, showing about $10.21 million in unrealized profit and a notional value near $224 million at the time referenced, based on their X post dated Dec 9, 2025 and the hyperbot.network trader page for 0xb317d2bc2d3d2df5fa441b5bae0ab9d8b07283ae. The same source reports ETH moved from $2,956 to $3,214 around that period, with all figures cited directly from the X post and HyperBot dashboard.

According to @lookonchain, the wallet labeled #BitcoinOG (1011short) increased his ETH long to 67,103.68 ETH valued at $209.8M, with over $4M in unrealized profit and a liquidation price at $2,069.49 (source: @lookonchain). Earlier activity showed he closed 4,513 ETH ($14.06M) for a $305K realized profit and still held a 50,001 ETH ($155.7M) long with $3.4M in unrealized gains before scaling to the current size (source: @lookonchain). For trading, the $2,069.49 liquidation level tied to this $209.8M notional position is a key downside threshold to track for ETH derivatives liquidity and risk management (source: @lookonchain).

According to the source, the U.S. CFTC has launched a pilot program to test tokenized collateral within derivatives markets. Source: @WatcherGuru tweet dated Dec 8, 2025. The source post did not specify eligible assets, margin haircuts, participating DCOs/DCMs, or the start date—details that determine leverage, margin requirements, and capital efficiency. Source: @WatcherGuru tweet dated Dec 8, 2025. Collateral eligibility and haircuts for cleared derivatives are governed by CFTC-regulated clearinghouses and exchanges, which directly affect margin models for futures and swaps. Source: U.S. CFTC overview of Designated Contract Markets (DCMs), Derivatives Clearing Organizations (DCOs), and customer funds and margin requirements. Traders should await a formal CFTC press release or Federal Register notice defining the pilot’s scope and risk controls, and monitor CME-listed crypto futures basis, open interest, and spreads for sentiment shifts tied to regulatory headlines during U.S. hours. Source: CFTC rulemaking and notice process; CME Group product listings for Bitcoin and Ether futures.

According to @glassnode, off-chain crypto market signals were mixed this week, with spot and ETF indicators improving. According to @glassnode, futures and options weakened as leverage and hedging demand declined. According to @glassnode, strength currently sits in spot and ETF, while derivatives continue to soften.

According to @glassnode, Bitcoin rebounded from the mid-$80K region and stabilized near $91K after last week’s drawdown, with buyers active at the lows (source: @glassnode). Conviction remains uneven across on-chain, derivatives, and ETF signals, setting a cautiously constructive but mixed market tone for BTC trading (source: @glassnode). Key trading areas referenced are the mid-$80K buy-support zone and the ~$91K stabilization level for near-term risk management (source: @glassnode).