💥 $UNI vGoes Full Power Mode

Why ETHZilla is Cold-Blooded on $ETH?

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The market is basically welcoming Christmas in bright red 🎄🔴 In the last 24 hours, over $250M has been liquidated, here’s what we can clearly see:

  • US stocks are rallying hard, while gold and silver keep breaking new ATHs → capital is clearly being pulled out of crypto

  • The US government is considering higher taxes on Chinese semiconductor chips → concerns over renewed US–China tensions are rising again

If you were part of that $250M liquidation, you’ve basically lost Christmas already 🎅 

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Here’s what we got for you today:

  • 👀 3 steps for beginner day trading strategy

  • ⭐ BTC is stuck between $85K and $90K

  • ⭐ Telegram groups are "dark webs" for scams

  • 🔥 Burning hot takes for the road

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Is Your "Winning" Trade Actually a Bad One?

I just finished reading Eugene Le’s latest breakdown on Beginner Day Trading, and honestly, it cuts through a lot of the noise we usually see on Crypto X/Twitter.

A good trade has nothing to do with making money. It sounds counter-intuitive, right? Here’s his analysis of the 3-step mechanical framework 👇

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4️⃣ BEGINNERS ROAD TO PRO TRADERS

DAY 4: How to Research a Crypto Token?

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If you followed Day 3, you’ve finally taken your crypto off the exchange and secured your private keys. You are officially your own bank. But an empty bank isn’t very fun.

So, what should you actually put in your wallet? This is where most beginners lose everything.

→ They see a green candle, a tweet from an "influencer" → they buy without thinking.

In day 4, we are moving from Defense (Security) to Offense (Research). We’ll help you separate Gamblers from Investors.

If you can master these basic research steps, you stop being "exit liquidity" for smart traders and start spotting real value before the crowd does.

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🧵 BTC IS STUCK BETWEEN $85K–$90K, WHY?

If you've been staring at the charts lately wondering “Why isn’t Bitcoin doing… anything?”, you're not alone.

Between $85,000 and $90,000, $BTC ( ▼ 1.59% ) has managed to annoy both bulls and bears at the same time, just going sideways with no real breakout.

The real reason is derivatives, specifically options market mechanics and dealer gamma.

First, in just 2 days (Dec 26), we’re heading into the largest Bitcoin options expiry in history, with ~$23.8–24B in notional value rolling off. For comparison:

  • 2021: ~$6.1B

  • 2023: ~$11B

  • Earlier 2024: ~$19.8B

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Expiring Bitcoin Options. Source: Deribit

That alone tells you how much institutions now dominate BTC derivatives.

Right now, dealer gamma is running the show. Dealers are sitting on about $507M of gamma, while daily ETF flows are only ~$38M → that’s a 13x gap.

So when you wonder, “Why doesn’t BTC move even on good news?”, this is why. Math beats narratives for now.

So why price feels glued between $85K–$90K?

Everything revolves around the gamma flip near $88K.

  • Above ~$88K, dealers are short gamma, so they sell into pumps and buy dips, killing volatility and dragging price back to the middle

  • Below ~$88K, the opposite happens, hedging starts adding fuel to the move, making drops or bounces more aggressive

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That’s how we end up with this fake calm, fake balance. You’ve probably noticed these levels already:

  • $90K keeps rejecting because there are tons of call options there. Every time price gets close, dealers hedge by selling BTC, and boom, breakout fails again

  • $85K keeps holding because of a big pile of put options. When price dips, dealers are forced buyers, soaking up selling pressure

→ Above $90K → lots of shorts ready to get liquidated
→ Below ~$86K → lots of longs waiting to get wiped

Both options and futures are basically saying: “Stay in the box.”

But here’s the key part everyone should be watching: On Dec 26, about 46% of dealer gamma disappears, and estimates say ~75% of current gamma exposure is gone after expiry.

In other words, the mechanical force that’s pinned BTC since mid-December fades away. It just means BTC can finally move again.

I don’t think this range-bound action reflects real belief or disbelief in Bitcoin. Dealers are just defending their books, and the easiest way to do that is to keep price stuck where the most options expire worthless.

If we hold $85K after expiry, I think upside can come quicker than people expect.

But if we lose $85K when gamma drops, downside could be sharp, because the same forces that were cushioning price won’t be there anymore.

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Getting paid is good. Getting paid early is even better. When you deposit paychecks into Cash App, you can make that a regular thing.

As soon as we get your paycheck, it’s ready for you - up to 2 days earlier than many banks. You’re in control of what happens next - choose a percentage of your paycheck to save, invest, or even buy bitcoin.* And with no monthly fees, your money stays yours.

Plus, you can relax knowing your money is protected by 24/7 fraud prevention and real-time activity alerts.

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⚠ CHINESE TELEGRAM GROUPS = "DARK WEB" FOR CRYPTO SCAMS

Chinese-speaking groups have basically turned Telegram into a new kind of dark web, and in many ways, it’s even bigger and more efficient than the old dark web ever was.

Let me walk you through it, because the scale here is honestly crazy.

At this point, Chinese-language Telegram networks are the backbone of the largest illegal crypto economy in the world.

Some key facts you should know:

  • According to Elliptic, Huione Guarantee (later renamed Haowang Guarantee) processed $27B from 2021–2025, more than any dark web market in history

  • After Telegram shut it down in May 2024, activity didn’t stop, it just migrated

  • Two markets now dominate:

    • Tudou Guarantee: ~$1.1B per month

    • Xinbi Guarantee: ~$850M per month

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So when people think “dark web = crime”, that’s outdated. Telegram has replaced it.

Why Telegram works better than the dark web?

→ Because Telegram offers public channels, built-in escrow-like middlemen, and global access instantly. Anyone can join.

These Telegram markets basically cloned everything the dark web had:

  • Vendor reputation and rating systems

  • Escrow and dispute resolution

  • Stablecoin payments

  • Ability to rebrand and relaunch quickly after shutdowns

In reality, Telegram has become a “no-barrier dark web”, like it’s open, fast, and shockingly resilient.

Do you know what are they selling here? Definitely not drugs or weapons at scale, but tools for scamming people:

  • Money laundering services

  • Fake investment platforms

  • Stolen personal identities

  • Telecom and social media impersonation tools

In the US alone, these scams generate ~$10B per year, according to federal data. Then, AI is pouring gasoline on the fire. This is where it gets even darker.

And yes… $USDT ( ▼ 0.02% ) is the financial backbone. Almost all transactions use Tether (USDT). Even though USDT can freeze accounts, in practice this power is rarely used at scale.

So the most centralized stablecoin has become the core settlement layer for the largest illegal crypto markets ever recorded.

Telegram has taken down many of these markets, but every time one is shut, another pops up within weeks, and the system keeps running.

So many users shared their scam stories with me, so I think this post is really worth a read.

Be extra skeptical. Video calls don’t mean real people anymore. “Too professional” platforms can be fake. And just because something is happening in public doesn’t mean it’s safe.

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With a Cash App Card, teens can take their first steps toward independence with a secure debit card. They’ll learn how to spend, save, and manage money, all with your guidance and oversight to help them get started.

1. Learn to spend responsibly: A debit card gives them a safe way to practice managing money under your supervision. It gives you the opportunity to teach them how to make smart spending choices.

2. Start saving for their goals:
Setting goals can help them see how saving a little at a time can help them reach their short-term and long-term goals.

3. Manage their own money:
Whether they get paid with direct deposit or use Cash App to get allowance or gifts, they get real experience with money.

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🔥 BURNING HOT TAKES FOR THE ROAD

Stop blindly following KOLs, a new study analyzed the 50 most influential Crypto X accounts to map out their belief systems. See the list

$UNI ( ▼ 6.09% ) holders voted 99% YES to activate the fee switch and burn 100M tokens (Uniswap's UNIfication proposal.) Read more

ETHZilla sold another 24K $ETH ( ▼ 1.94% ) for $74.5M to pay debts, officially abandoning its DAT strategy. Is this bubble finally bursting? Read more

Civil War at Aave: The DAO is fighting Aave Labs over who owns the brand and the money. Read more

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🤡 SPICY MEME

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My Xmas Gift: Better Luck Next Time

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💌 SHOUTOUT FROM OUR FIRESTARTER

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⚠ This newsletter is for informational purposes only and should not be considered investment advice. Traders should conduct thorough research, understand the risks, and carefully evaluate their decisions before investing in cryptocurrency.

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