Gate Daily (December 24): The Central Bank of Russia plans to open up investment in Crypto Assets; Ethereum ETF ends outflows.

Bitcoin (BTC) continues its weak fall, reported around $87,750 on December 24. The U.S. GDP for the third quarter grew at an annual rate of 4.3%, above market expectations. The Central Bank of Russia plans to open up cryptocurrency investments, setting new regulations to differentiate investor levels. Ethereum ETF ends the outflow of funds, while XRP products reach a new high in several weeks.

Macro Events & Coin Circle Hotspots

1. The Central Bank of Russia has released a draft concept for regulating the cryptocurrency market, proposing to allow both qualified and non-qualified investors to invest in crypto assets under certain regulations. Non-qualified investors may purchase high liquidity cryptocurrencies through a single intermediary, up to a maximum of 300,000 rubles (approximately 3,800 USD) annually after passing a test; qualified investors can invest without limit in any cryptocurrency except for anonymous coins after a risk test. The concept also suggests that crypto transactions will be conducted through existing licensed institutions, with relevant legislation expected to be completed by July 2026, and legal responsibilities for illegal intermediaries to be imposed starting July 2027.

2. The US spot Ethereum ETF recorded a net inflow of $84.6 million on Monday, ending seven consecutive days of outflows, marking one of the largest single-day reversals this month. Previously, over $700 million worth of spot Ethereum had flowed out. Last week's product price increase highlighted the easing of selling pressure. According to data from SoSoValue, this rebound has increased the cumulative net inflow of funds to approximately $12.5 billion. Meanwhile, the XRP ETF continued its inflow momentum, recording a net inflow of $43.9 million on Monday, achieving the highest single-day performance since early December. The XRP ETF has never experienced a net outflow since its launch, with a cumulative net inflow exceeding $1.1 billion.

3. Data released by the U.S. Department of Commerce shows that the U.S. GDP for the third quarter grew at an annual rate of 4.3%, significantly higher than the economists' forecast of 3.2% from the Dow Jones survey. However, Trump stated: “Out of 61 Bloomberg economists, 60 made a misjudgment. Success comes from good government governance and tariff policies. Consumer spending is strong, net exports have risen significantly, imports and the trade deficit have significantly decreased, and there is no inflation! Due to my tax plan (that great and beautiful plan) and tariff policies, investment is hitting record levels.”

News Update

1. The Central Bank of Russia plans to open up encryption investments and is drafting new regulations to distinguish investor levels.

2. The SEC has sued three fake cryptocurrency trading platforms and four investment clubs, suspected of defrauding 14 million dollars.

3. U.S. Treasury Secretary Becerra supports reconsidering the Federal Reserve's 2% inflation target.

4. The VC valuation of Fuel and Bubblemaps is 1 billion USD, while their current market values are only 11 million and 6 million respectively.

5. Nasdaq-listed company iPower has reached a $30 million convertible note financing agreement to launch the DAT strategy.

6. Former FTX US President completes $35 million financing and launches new exchange AX.

7. Yardeni Research: Gold will reach $6,000 by the end of 2026.

8. The US economy expanded at a rate of 4.3% in the third quarter, achieving the fastest growth in two years.

9. The preliminary value of the U.S. GDP for the third quarter exceeded expectations, and the core PCE met expectations.

10. IG Releases 2026 Commodities Outlook: The rise in gold is expected to continue, the rise in gold is expected to continue.

11. Sentora: Bitcoin may encounter multiple benefits in 2026, driving BTC to break through the 150,000 USD mark.

Market Trend

1. Latest news on Bitcoin: $BTC continues to decline in weakness, currently reported at around 87,750 USD, with a liquidation of 84.5 million USD in the past 24 hours, mainly from long positions;

2. The U.S. stock market closed in the red on December 23, with the S&P 500 index hitting a new closing high, rising for four consecutive trading days. Despite strong economic growth data pushing up government bond yields and weakening market expectations for a Federal Reserve (Fed) interest rate cut in January, tech stocks surged strongly, overriding investors' concerns about the direction of interest rates. As the Christmas holiday approaches, market trading volume has become lighter, but the recent upward trend has ignited enthusiasm for the “Christmas Rally.” The Dow Jones Industrial Average rose 79.73 points, an increase of 0.2%, closing at 48,442.41 points. The S&P 500 index rose 31.30 points, an increase of 0.5%, closing at 6,909.79 points. The Nasdaq Composite Index rose 133.02 points, an increase of 0.6%, closing at 23,561.84 points.

(Source: Gate)

3. In the Gate BTC/USDT liquidation map, based on the current 87,663.90 USDT, if it falls to around 86,918 USD, the cumulative liquidation amount for long positions exceeds 107 million USD; if it rises to around 88,632 USD, the cumulative liquidation amount for short positions exceeds 420 million USD. The liquidation amount for shorts is significantly higher than that for longs, and it is advisable to reasonably control leverage ratios to avoid triggering large-scale liquidations during market fluctuations.

(Source: Coinglass)

4. In the past 24 hours, BTC spot inflow was $1.54 billion, outflow was $1.82 billion, with a net outflow of $280 million.

(Source: Coinglass)

5. In the past 24 hours, contracts such as $BEAT, $PIPPIN, $ANIME, $RAVE, and $ICNT have seen net outflows, indicating trading opportunities.

X KOL Selected Insights

Phyrex Ni (@Phyrex_Ni): “The announcement of the US GDP growth for the third quarter today is quite good, far exceeding expectations, but the impact on risk markets is very weak, mainly because the market is worried that a too good economy will hinder the Federal Reserve from cutting interest rates in 2026. This concern has led to Trump making a speech, the essence of which is to call for trust in the Federal Reserve Chairman to cut interest rates. Trump feels powerless against Powell now; all that remains is the end of the term.”

“In the data of the ETF, it has been mentioned multiple times that we have already entered the Christmas market. Some investors have already started their holidays, and liquidity and trading volume have begun to show a significant decline. In this situation, a narrow range of fluctuations is very likely. The willingness to buy and sell in the market at this stage has already decreased. Tomorrow is Christmas Eve, and trading volume will inevitably decline further.”

“Looking back at the data of Bitcoin, it is still very difficult for BTC's price to impact $90,000. Even though the trading volume has started to decline, I have not seen a drop in the turnover rate. I am a bit confused now. I used to think it was quant trading back and forth, but now the trading volume has obviously dropped by over 20%, yet the turnover rate is still rising. What is all this Bitcoin on-chain doing?”

“However, the overall structure of the chips is still relatively stable, and there are no signs of panic among investors. Most holders are still in a wait-and-see attitude. Personally, I think the next change may start with Trump's announcement of a new Federal Reserve chairman.”

Today Outlook

1. The number of initial unemployment claims in the U.S. last week (in thousands) (as of 1220) was 224, revised from the previous value.

2. The Bank of Canada released the minutes of the monetary policy meeting.

3. Italy Christmas Eve holiday market closure

4. The trading half-day in Hong Kong before Christmas randomly closes between 12:08 and 12:10.

5. Canada will close early on Christmas Eve at 02:00 Beijing time on the 25th.

6. On Christmas Eve in Australia, the market will close early at 11:10 Beijing time.

7. On the eve of Christmas in the United States, the market will close early at 02:00 on December 25th Beijing time.

8. Christmas Eve trading half-day in France

9. New Zealand will close early at 08:00 Beijing time on Christmas Eve.

10. On Christmas Eve in the UK, the market will close early at 20:30 Beijing time.

11. Germany Christmas Eve Holiday Market Closed