Overview
- Following a 25 bp rate cut, the New York Fed outlined roughly $40 billion in short-term Treasury purchases as Chair Jerome Powell emphasized a data-dependent path.
- Bitcoin whipsawed from an intraday low near $89,000 to trade back in the $92,000–$94,000 range, reflecting fragile short-term momentum.
- Glassnode estimates roughly $350 billion in unrealized crypto losses, including about $85 billion in Bitcoin, as lower stablecoin inflows, thinner market-maker depth, and softer spot volumes point to higher volatility risk.
- Accumulation addresses added about 75,000 BTC from Dec. 1–10, on-chain data show, with record withdrawals and lighter deposits on Binance suggesting supply is moving off exchanges as whale and short-term holder selling cools.
- In a policy development, House Financial Services Committee members urged the SEC to permit digital assets in 401(k) plans, a step that could broaden longer-term demand if adopted.