Daily Report 2025.12.30

Yesterday, the US stock market experienced a slight pullback after opening, and BTC is also showing signs of a correction, with several attempts to reach $90,000 but failing to stabilize, indicating that selling pressure above is still quite heavy.

From on-chain data, BTC's turnover rate remains low, suggesting that most investors are still in holiday mode, and market liquidity is relatively poor.

The chip structure shows that BTC has formed a bottom around $83,000, with the holding volume at $87,000 exceeding 800,000 BTC, and short-term volatility may increase.

However, the overall chip structure is still healthy, with chips trapped at high levels remaining stable, and selling pressure is not significant.

MicroStrategy spent another $108.8 million last week to buy 1,229 BTC, with an average purchase price of $88,568, currently at a floating loss.
Meanwhile, MicroStrategy's ETH BMNR seems to have entered a defensive mode.

Last week, their purchase volume hit a new low, adding only 44,000 ETH, and for the first time, they announced plans to stake some of their tokens.

Their company's upcoming plan is to fully develop their own staking nodes, so that after holding a large amount of ETH, they can stake it to themselves to generate more ETH income.

They are shifting from previously aggressive accumulation to a more stable staking defense.

Ethereum's staking queue has reversed for the first time in the past six months, ending a continuous outflow, with the number of ETH waiting to be staked now more than twice the amount waiting to exit.

This may be attributed to Tom Lee's recent large-scale staking.