The Federal Reserve is about to hold its FOMC meeting, and former Fed Vice Chair Lael Brainard stated in an interview that if she were to participate in the upcoming interest rate decision, she might opt ​​for a hawkish rate cut. Brainard indicated that, given the lack of official data, she would refer to employment data from non-governmental sources such as ADP and Revelio Labs (both of which show a decline in US job creation). Given that the Fed does not want to see the economy enter a self-reinforcing downward spiral leading to more layoffs, she personally favors one more rate cut, followed by maintaining the rate unchanged for a period, with a firm commitment to reducing inflation to 2% over the next two years—a so-called hawkish rate cut. She stated that for Americans, the primary concern is inflation and prices. (Jinshi)

Bitcoin traded lower on Tuesday as investors remained cautious ahead of a major Federal Reserve policy meeting, where markets overwhelmingly expect a quarter-point rate cut but remain uncertain about the path of easing into 2026.The world’s largest cryptocurrency slipped 1.5% to $90,011 at 01:16 ET (06:16 GMT), holding within its recent $90,000–$92,000 range amid fading momentum and thin liquidity.Cautious Trading Ahead of Fed DecisionWith the Fed’s two-day meeting set to begin today, traders avoided taking new directional positions.Futures markets imply an 87% probability of a 25-basis-point cut, driven by:Cooling U.S. labor-market indicatorsModerating, though still persistent, inflationSofter economic data entering year-endHowever, Fed officials remain divided, leaving open the risk of a surprise hold—a scenario that would weigh on risk assets, including crypto.Lower rates typically weaken the U.S. dollar and reduce yields on cash and bonds, supporting assets such as Bitcoin. BTC’s late-2024 resurgence was fueled largely by expectations of a prolonged Fed easing cycle.MicroStrategy Adds 10,624 BTCMicroStrategy (NASDAQ: MSTR), the world’s largest Bitcoin-treasury company, revealed it purchased 10,624 BTC between Dec. 1–7 at an average price of $90,615.The firm now holds 660,624 BTC, solidifying its position as a key institutional driver of BTC demand.The purchase comes as MicroStrategy risks potential removal from major equity benchmarks such as MSCI, a move that could trigger outflows from index-tracking funds.Altcoins Trade Soft as Broader Market Stays Risk-OffMost large-cap cryptocurrencies drifted lower:Ether (ETH): −0.8% to $3,104XRP: −1.4% to $2.05Solana (SOL): −2%Polygon (MATIC): −2%Cardano (ADA): flatDogecoin (DOGE) and TRUMP: −1%Across majors, intraday rebounds continue to be sold into, reflecting defensive positioning ahead of the Fed.Why the Crypto Market Is Down TodayAfter a brief rebound, digital assets are trading modestly lower. The prevailing message across trading desks: “steady but fragile.”Key Drivers Behind Today’s Pullback1. Fed uncertaintyWhile a 25 bps cut is priced in, markets lack clarity on:How many cuts will follow in 2026The Fed’s latest view on inflation risksWhether policy will stay dovish into a potential slowdownA less dovish message could weigh sharply on crypto.2. Year-end liquidity + profit-takingSeasonally thin order books mean small sell orders move price more dramatically.After 2024–2025 rallies, many traders used recent bounces to:Lock in profitsReduce leverageLimit exposure into event risk3. Technical range-bound structureBitcoin remains trapped between:Support: mid-$80Ks to high-$80KsResistance: low-$90Ks to mid-$90KsRepeated failures to break above $92–93K have encouraged short-term “fade the bounce” strategies.4. Sentiment remains cautiousThe Crypto Fear & Greed Index at 25 signals persistent fear:Weak risk appetiteRallies sold quicklySignificant cash remains sidelinedTechnical Picture: No Breakout Signals YetBTC continues to oscillate inside a broad multi-week range:Support: $86,000–$88,500Resistance: $92,000–$95,000Until either boundary breaks decisively:Bulls lack convictionBears lack momentumSideways volatility continuesEthereum and other majors show similar patterns—failed breakouts, quick reversals, and low follow-through buying.What to Watch Next1. The Fed’s tone and Dot PlotA surprise “hawkish hold” or slower easing path could hit risk assets.A dovish message could lift BTC back toward $94–95K.2. BTC reaction at $90KBreak below $90K exposes the $88K pocket.Holding above keeps the range intact.3. ETF flowsInflows into BTC and ETH spot ETFs will signal whether institutional demand is returning or stepping back.4. Liquidity conditionsOrder-book depth typically thins sharply into year-end; volatility may increase.5. Sentiment recoveryA shift from fear to neutral often precedes sustainable upside.

In a recent client briefing, Bitwise CIO Matt Hougan stated that the crypto market is poised for 10-20x growth over the next decade. He cited a prediction from SEC Chairman Paul Atkins, who stated that all U.S. stocks will be on-chain “within a few years.” Currently, the U.S. stock market is worth approximately $68 trillion, while on-chain tokenized stocks represent only about $670 million, indicating significant growth potential. Hougan believes that stablecoins, tokenization, and Bitcoin will become increasingly important, but given the uncertainty of which blockchain network will ultimately prevail, he advises investors to seek broad market exposure through market capitalization-weighted crypto index funds rather than betting on a single network. (The Block)

Coinbase has listed Plume, an EVM-compatible Layer 1 blockchain for tokenizing real-world assets. PLUME rose 8% as Bitcoin (BTC) oscillated between $90,000 and $92,000 amid lack of significant momentum.   Other altcoins, including Hype (HYPE) and Cronos (CRO), are trading higher despite overall caution source: https://coinjournal.net/news/plume-token-gains-8-as-coinbase-adds-trading-support/

"Hyperliquid Slips Again – Here is Why Traders Are Concerned That a Further Decline Towards the $20 Mark Could Be the Next Development in the Market." In this expanded version, we are emphasizing the ongoing issues surrounding Hyperliquid and delving into the reasons behind traders' apprehensions regarding a potential drop in value. source: https://blocknews.com/hyperliquid-slips-again-here-is-why-traders-fear-a-drop-toward-20-might-be-next/

Bitwise CIO Matt Hougan said crypto is positioned for 10–20x growth as tokenization, bitcoin, and stablecoins gain mainstream adoption. source: https://www.theblock.co/post/381855/bitwise-cio-10-20x-crypto-growth-sec-chair-68-trillion-usd-onchain-forecast?utm_source=rss&utm_medium=rss

Stablecoin issuer authorized to operate in ADGM as UAE digital asset framework expands source: https://www.blockhead.co/2025/12/09/circle-receives-abu-dhabi-money-services-license/

According to BlockBeats, the Singapore Exchange (SGX) has reported that its Bitcoin and Ethereum perpetual futures have achieved a cumulative trading volume of $250 million since their launch two weeks ago. SGX President Michael Syn noted that these products are drawing new liquidity rather than diverting funds from other exchanges. Institutional investors are primarily engaging in spot-futures arbitrage trading with these regulated contracts, rather than simply taking long positions.

As meme cryptocurrency Shiba Inu (SHIB) continues to show short-term recovery, on-chain data indicates that the token has recorded a sharp resurgence in large-scale whale activity. Specifically, Shiba Inu has recorded its highest level of major investor activity in six months, with the network reporting 406 whale transactions within a day, according to Santiment data shared on December 9. Each transfer exceeded $100,000, marking the highest concentration of large movements since June 6. This spike coincided with a significant shift in exchange supply, as more than 1 source: https://finbold.com/shib-sees-a-monster-6-month-spike-in-whale-activity/

According to PANews, EU Financial Services Commissioner Maria Luis Albuquerque stated on Tuesday that the European Union intends to implement its comprehensive capital market reform package by 2027, marking the first time a timeline has been provided for the initiative. Albuquerque emphasized the importance of swiftly discussing and approving the proposal, ideally aiming for implementation by 2027. Last week, the European Commission announced plans to enhance the supervisory and enforcement powers of the European Securities and Markets Authority (ESMA) as part of efforts to integrate fragmented capital markets. The proposal requires approval from the European Parliament and the EU Council, with some member states expressing strong opposition. Centralizing regulatory authority would bring key clearinghouses, central securities depositories, and trading platforms under ESMA's jurisdiction, including cryptocurrency companies. Additionally, the EU has pledged to conduct a comprehensive review of banking regulatory rules by the end of next year. The European Central Bank is set to unveil proposals for simplified bank regulation on Thursday, which will be incorporated into the EU Commission's broader reform efforts.

From DeFi to RWA, and now to the SEC's conclusion of its investigation, Ondo has seized every market opportunity, which may be the secret to its continued popularity.

When the "Fear & Greed Index" remains in an unsettlingly low range for an extended period, the market is often shrouded in fear and uncertainty.

A Binance employee was suspended for using insider information to promote a new token on the exchange’s official social media account. The token gained rapid attention and value, and Binance rewarded whistleblowers while promising stronger controls to prevent similar misconduct.

Jupiter and SOLANA: Sparking a Solana "Civil War"? What are Kamino and Jupiter really fighting over? (Golden Finance: The Dispute Between Kamino and Jupiter)

Fidelity CEO Abigail Johnson shared insights on topics such as Bitcoin and early mining, crypto custody, stablecoins, innovative investment models, and "building your own vs. acquiring."

ChatGPT users saw prompts in their chats that looked like ads, causing confusion and concern. OpenAI said these were just experimental app suggestions, not paid advertisements, and has now removed the feature.

This Thursday (Beijing time), the Federal Reserve will announce its final interest rate decision of the year.

For an AI agent to truly become a "widely deployable autonomous software," it needs two core capabilities: composability and verifiability.

Some have pointed out that Paradigm is an investor in Kalshi (participating in all three of the most recent funding rounds), and Huang's repost was seen as "smearing a competitor."

X402, combined with stablecoins and crypto-on-chain infrastructure, will gradually and continuously impact the existing payment system. It not only utilizes stablecoins but also transfers money, credit, identity, and data into a parallel financial universe.