Key Dynamics of the Overnight Crypto Market on December 5

From 21:00 to 7:00, the following major news items emerged:

1. Bitcoin Price Fluctuation: BTC successfully broke through the key level of $98,500, attracting significant market attention.

2. Putin Supports Digital Assets: Putin stated that Bitcoin and digital assets still have development potential in the future, adding positive expectations to the industry.

3. Changes in U.S. SEC Personnel: Trump has appointed Paul Atkins as the Chairman of the U.S. Securities and Exchange Commission (SEC), drawing attention to regulatory direction.

4. Meitu Asset Adjustments: Meitu has reduced its holdings, selling approximately 31,000 Ethereum and 940 Bitcoin, indicating a clear move to recover funds.

5. Powell on Bitcoin's Positioning: Federal Reserve Chairman Powell reiterated his view that Bitcoin's competitive benchmark is gold, not the dollar, highlighting its speculative nature.

6. Coinbase Listing Plan: Coinbase has included GIGA and TURBO in its listing roadmap, potentially bringing trading opportunities for related cryptocurrencies.

7. Hut 8's Major Moves: Bitcoin mining company Hut 8 announced two major plans: investing $500 million to promote an ATM plan and spending $250 million to buy back stock, showcasing the company's strategic layout.

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