Bitget Daily Morning Report: U.S. House mulls tax safe harbor for stablecoins and crypto staking
TechFlow Selected TechFlow Selected
Bitget Daily Morning Report: U.S. House mulls tax safe harbor for stablecoins and crypto staking
BTC's relative strength index (RSI) is approaching its lowest level in nearly 3 years.
Navigating Web3 tides with focused insightsAuthor: Bitget
Today's Outlook
1. Zhitong Caijing: The U.S. House is considering establishing a tax safe harbor for stablecoins and crypto staking, aiming to clarify tax treatment.
2. Michael Saylor: If Strategy holds 5% of the total BTC supply, Bitcoin could reach $1 million. Yesterday, Michael Saylor released another Bitcoin tracker update, with new accumulation data expected this week.
3. Spot gold breaks above $4,350 per ounce, up 0.26% on the day; spot silver rises to $67.5 per ounce, hitting a new all-time high.
Macro & Highlights
1. Hassett: The current three-month average core inflation rate is 1.6%. Trump seeks data-dependent candidates among Federal Reserve chair nominees.
2. Cathie Wood: Inflation could fall to 0% by 2026, making it a "just right" year.
3. Fed's Hammack: No need to adjust rates after consecutive cuts; rates will remain unchanged at least until spring.
Market Trends
1. Over the past 24 hours, total liquidations in the crypto market reached $181 million, with short liquidations at $108 million. BTC liquidations amounted to $45 million, ETH to $41 million.
2. U.S. major indices mixed: Dow +0.38%, S&P 500 +0.88%, Nasdaq Composite +1.31%. Additionally, NVIDIA (NVDA) +3.93%, Circle (CRCL) +6.35%, MicroStrategy (MSTR) +4.16%.
3. Bitget BTC/USDT liquidation map shows that the current price level (~88.6k) is a battle line between bulls and bears: Above, the 89k–90k range has densely stacked 50x–100x long position liquidations; a strong breakout could trigger short squeeze and accelerated upward momentum. However, below, the 84k–86k zone shows weak short liquidations and support, with high long position concentration. If the rally fails and prices retreat, watch out for rapid pullbacks and long liquidations following a false breakout.
4. In the past 24 hours, BTC spot inflows were approximately $255 million, outflows $245 million, resulting in a net inflow of $10 million.
News Updates
1. Maple Finance co-founder Sidney Powell: Traditional DeFi is "dead." The future's decisive force will be on-chain capital markets. As institutions gradually move trading, clearing, and settlement on-chain, traditional Wall Street intermediary models and infrastructure will be increasingly squeezed, with on-chain markets eventually overtaking Wall Street.
2. Casa co-founder: Quantum computing poses a long-term risk to Bitcoin; upgrading may take 5 to 10 years.
3. Report: Crypto activity in Brazil grew 43% in 2025, with average user investment exceeding $1,000.
Project Updates
1. Ethereum Community Fund: Stop truncating address displays to prevent USDT phishing attacks.
2. This week, tokens including H, XPL, and SOON will undergo large-scale unlocks, with H unlocking worth about $14.8 million.
3. Bitcoin treasury company BTCS S.A. partners with QCP and increases its Bitcoin holdings to 137 BTC.
4. 10x Research: BTC mining firms and crypto companies underperformed this week; the market has not yet reversed its downturn.
5. Cointelegraph reports that Bitcoin’s Relative Strength Index (RSI) is near a 3-year low, placing the market at a critical make-or-break moment.
6. Analyst Murphy on X platform notes signs of sentiment recovery from on-chain data. The red area in the chart below represents addresses that switched from "holding BTC" to "fully exiting" within the past 30 days.
7. Ethereum Foundation: Security becomes the focus; plans to implement 128-bit security standards next year.
8. PANews, citing Onchain Lens data: A whale sold 230,000 AAVE, causing prices to drop about 10%.
9. BNB Chain: BSCScan API is now deprecated; users must switch to Etherscan API V2.
10. F2Pool co-founder Wang Chun once transferred 500 BTC to a suspicious address while testing private key security, losing 490 BTC.
Disclaimer: This report is AI-generated. Human input was limited to information verification. It does not constitute any investment advice.
Join TechFlow official community to stay tuned
Telegram:https://t.me/TechFlowDaily
X (Twitter):https://x.com/TechFlowPost
X (Twitter) EN:https://x.com/BlockFlow_News
