Initial Jobless Claims in the US Fall Short of Expectations
Initial jobless claims in the US for the week ending December 20 were reported at 214,000. This figure fell significantly short of market expectations of 224,000. The data points to continued strength in the labor market. There were no signs of a rapid deterioration in employment, especially as the end of the year approaches. The announcement limits expectations of short-term interest rate cuts by the Fed.
Gold and Dollar Unmoved After Unemployment Data
Spot gold and the DXY dollar index showed no significant movement in the short-term following the announcement of initial jobless claims. US stock futures also traded mostly flat. According to CME data, the probability of the Fed cutting rates by 25 basis points next month remained at 13.3%. The market does not seem to view the data as a surprise. This indicates that current price levels are largely intact.
Bitcoin Prepares for Its Largest Ever Options Expiration
On Friday, approximately $23.6 billion worth of Bitcoin options will expire. This amount will go down in Bitcoin history as the largest options expiration to date. Market data shows that positions are predominantly long (call). The maximum pain point is at the $96,000 level. This structure indicates that upward price pressure could increase in the short term.
Musk’s DOGE Report: Employment Declined, Spending Increased
The Government Efficiency Department ($DOGE), led by Elon Musk, announced that despite severe employment cuts by the end of 2025, savings could not be achieved. The number of federal employees fell by approximately 9% during the year, while total spending increased by 6%. Spending rose from $7.135 trillion to $7.558 trillion. Although Musk mentioned the possibility of a third party in the summer, it was noted that he recently made donations to the Republican Party again. The report brought the debate on public finance efficiency back to the agenda.
Mt. Gox Hacker-Linked Addresses Sold 1,300 BTC
Addresses linked to the Mt. Gox attack were found to have sold approximately 1,300 BTC in the last 7 days. The total value of the sales is estimated at approximately $114 million. It is noted that the relevant addresses still hold approximately 4,100 BTC. The U.S. Department of Justice has charged Aleksey Bilyuchenko with the Mt. Gox hack and money laundering. The development has reignited concerns about supply pressure in the market.
B HODL Approves Collateralized Credit Facility for Bitcoin Purchases
Bitcoin treasury company B HODL Plc announced that it has approved a Bitcoin-backed credit facility. The company will use CoinCorner’s credit products to collateralize its BTC assets. Credit terms include a 50% loan-to-value ratio and a maximum four-year maturity. Total credit exposure is capped at 20% of Bitcoin reserves. The funds provided are planned to be used directly for new Bitcoin purchases.
Solana Foundation Prepares to Launch ConnectorKit SDK
The Solana Foundation has announced that it will soon release its new wallet connection SDK, ConnectorKit. ConnectorKit offers a web3js-compatible and framework-independent structure. Its headless architecture provides developers with flexible integration options. The SDK includes user-friendly hooks and modular components. Features such as Kora and Passkeys will also be integrated natively.
